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201302388
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Last modified
8/19/2014 2:22:39 PM
Creation date
3/27/2013 3:23:15 PM
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DEEDS
Inst Number
201302388
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201302388 <br />11. VIOLATIONS; SECRETARY'S REMEDIES. If the Secretary determines that the Owner <br />has violated any of the terms of this Agreement, including, but not limited to, failure to comply with <br />any of the requirements imposed under Section 10 above, the Secretary shall notify the Owner of its <br />determination and the Owner shall have ninety (90) calendar days after receipt of such notification <br />in which to cure the violation. Promptly following the expiration of the foregoing ninety (90) day <br />period, the Secretary shall reinspect the Project and /or take other investigative steps as it deems <br />necessary in order to ensure compliance. The failure to cure any violation to the Secretary's <br />satisfaction within such ninety (90) day period shall constitute a covenant default under the <br />Regulatory Agreement for Projects with Mortgage Restructuring Mortgages in the Mark-to-Market <br />Program, which may result in the acceleration of the Mortgage Restructuring Note that is held by the <br />Secretary and the Mortgage Restructuring Mortgage secured by the Project, payment of relocation <br />expenses to tenants admitted to the Project in violation of the Affordability Requirement; and, the <br />imposition of any other remedies, administrative actions and/or sanctions provided under or <br />authorized by applicable law and regulations, including those provided under 24 CFR Part 24. The <br />parties further agree that upon any default under this Agreement, the Secretary may apply to any <br />court, state or federal, for specific performance of this Agreement, for an injunction against violation <br />of this Agreement or for such other equitable relief as may be appropriate, since the injury to the <br />Secretary arising from a violation under any of the terms of this Agreement would be irreparable and <br />the amount of damage would be difficult to ascertain. <br />12. SUBMISSION OF CERTIFICATIONS. The Owner must submit to the Secretary or the <br />Participating Administrative Entity ( "PAE "), within thirty (30) calendar days following the <br />Secretary's request therefor, any certifications, statements or other information as the Secretary may <br />reasonably require relating to the monitoring of the Owner's compliance with this Agreement. <br />During the term of this Agreement, the Owner shall submit to the Secretary (by delivery to the local <br />HUD office), the PAE (if serving as the Use Agreement Monitor), and to the unit of local <br />government responsible for providing affordable housing to the jurisdiction in which the Project is <br />located (the "Affected Unit of Local Government "), within thirty (30) calendar days following each <br />anniversary of the execution of this Agreement, an executed original of the Owner' s Compliance <br />Certification, in the form attached hereto as Exhibit C, certifying that the Owner is in compliance <br />with the terms of this Agreement. The Owner shall maintain on file, for a period of not less than <br />eight (8) years from the date thereof, a copy of each Owner's Compliance Certification submitted <br />in accordance with this Section. <br />13. COVENANTS TO RUN WITH LAND. The Owner hereby subjects the Property to the <br />covenants, reservations and restrictions set forth in this Agreement. The Owner hereby declares its <br />express intent that the covenants, reservations and restrictions set forth herein shall be deemed <br />covenants running with the land to the extent permitted by law and shall pass to and be binding upon <br />the successors in title to the Property throughout the Term. Each and every contract, deed, mortgage <br />or other instrument hereafter executed covering or conveying the Property or any portion thereof <br />shall conclusively be held to have been executed, delivered and accepted subject to such covenants, <br />reservations and restrictions, regardless of whether such covenants, reservations and restrictions are <br />set forth in such contract, deed or other instrument. The Secretary hereby agrees that, upon the <br />WQMUseAgrrtRevised for Green initiative (October 2011) FRENCH VLLAGE <br />
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