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201302389
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201302389
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Last modified
3/27/2013 4:30:05 PM
Creation date
3/27/2013 3:24:59 PM
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DEEDS
Inst Number
201302389
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Previous editions are obsolete <br />201302389 <br />(e) Borrower shall, promptly upon Lender's request, deliver to Lender an <br />executed copy of each residential Lease then in effect. All Leases for residential <br />dwelling units shall be acceptable to Lender and shall comply with Program Obligations. <br />(f) Borrower shall not lease any portion of the Mortgaged Property for non- <br />residential use (which includes any Lease of the Mortgaged Property for <br />telecommunications uses) except with the prior written consent of Lender, and Lender's <br />prior written approval of the Lease agreement. Borrower shall not modify the terms of, <br />or extend or terminate, any Lease for non - residential use (including any Lease in <br />existence on the date of this Security Instrument) without the prior written consent of <br />Lender. Borrower shall, without request by Lender, deliver an executed copy of each <br />non - residential Lease to Lender promptly after such Lease is signed. <br />18 <br />(1) All non - residential Leases, including renewals or extensions of existing <br />Leases, shall specifically provide that (i) such Leases are subordinate to <br />the lien of this Security Instrument and (ii) the tenant shall, upon receipt <br />after the occurrence of an Event of Default of a written request from <br />Lender, pay all Rents payable under the Lease to Lender; and <br />(2) All non - residential Leases, including renewals or extensions of existing <br />Leases but excepting Leases of the entire Project, also shall provide that <br />(i) the tenant shall attorn to Lender and any purchaser at a foreclosure <br />sale, such attornment to be self - executing and effective upon acquisition <br />of title to the Mortgaged Property by any purchaser at a foreclosure sale <br />or by Lender in any manner; (ii) the tenant agrees to execute such <br />further evidences of attornment as Lender or any purchaser at a <br />foreclosure sale may from time to time request; (iii) the Lease shall not <br />be terminated by foreclosure or any other transfer of the Mortgaged <br />Property; and (iv) after a foreclosure sale of the Mortgaged Property or <br />after transfer of the Mortgaged Property to Lender by a deed -in -lieu of <br />foreclosure, Lender or any purchaser at such foreclosure sale may, at <br />Lender's or such purchaser's option, accept or terminate such Lease. <br />(g) Borrower shall not receive or accept Rent under any Lease (whether <br />residential or non - residential) for more than two months in advance. <br />5. PAYMENT OF INDEBTEDNESS; PERFORMANCE UNDER LOAN <br />DOCUMENTS; PREPAYMENT PREMIUM. Borrower shall pay the Indebtedness when <br />due in accordance with the terms of the Note and this Security instrument and shall <br />perform, observe and comply with all other provisions of the Note and this Security <br />Instrument. Borrower shall pay a prepayment premium in connection with certain <br />HUD MF Security Instrument HUD- 94000M (Rev.11/12) <br />
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