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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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201302389 <br />23 <br />Loan is insured or held by HUD, the Regulatory Agreement, and Program Obligations <br />including lead -based paint maintenance requirements of 24 CFR Part 35, subpart G, <br />and any successor regulations; including but not limited to those of the foregoing <br />pertaining to: health and safety; construction of Improvements on the Mortgaged <br />Property; fair housing; civil rights; zoning and land use; Leases; and maintenance and <br />disposition of tenant security deposits; and, with respect to all of the foregoing, all <br />subsequent amendments, revisions, promulgations or enactments. Borrower shall at all <br />times maintain records sufficient to demonstrate compliance with the provisions of this <br />Section 11. Borrower shall take appropriate measures to prevent, and shall not engage <br />in or knowingly permit, any illegal activities at the Mortgaged Property, including those <br />that could endanger tenants or visitors, result in damage to the Mortgaged Property, <br />result in forfeiture of the Mortgaged Property, or otherwise impair the lien created by this <br />Security Instrument or Lender's interest in the Mortgaged Property. Borrower <br />represents and warrants to Lender that no portion of the Mortgaged Property has been <br />or will be purchased with the proceeds of any illegal activity. <br />12. USE OF PROPERTY. Unless permitted by applicable law and approved <br />by Lender, Borrower shall not (a) allow changes in the use for which all or any part of <br />the Mortgaged Property is being used at the time this Security Instrument was <br />executed, (b) convert any individual dwelling units or common areas to commercial use, <br />(c) initiate or acquiesce in a change in the zoning classification of the Mortgaged <br />Property that results in any change in permitted use that was in effect at the time of <br />initial /final endorsement, (d) establish any condominium or cooperative regime with <br />respect to the Mortgaged Property, (e) materially change any unit configurations or <br />change the number of units in the Mortgaged Property, (f) combine all or any part of the <br />Mortgaged Property with all or any part of a tax parcel which is not part of the <br />Mortgaged Property, (g) subdivide or otherwise split any tax parcel constituting all or <br />any part of the Mortgaged Property, or (h) so long as the Note is insured or held by <br />HUD, permit the Mortgaged Property to be used as transient housing or as a hotel in <br />violation of Section 513 of the National Housing Act, as amended. <br />13. PROTECTION OF LENDER'S SECURITY. <br />(a) If Borrower fails to perform any of its obligations under this Security <br />Instrument, Note or Regulatory Agreement, or if any action or proceeding is <br />commenced which purports to affect the Mortgaged Property, Lender's security or <br />Lender's rights under this Security Instrument, including eminent domain, insolvency, <br />Waste, code enforcement, civil or criminal forfeiture, enforcement of Hazardous <br />Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a <br />bankrupt or decedent, then Lender at Lender's option may make such appearances, <br />advance such sums and take such actions as Lender reasonably deems necessary to <br />Previous editions are obsolete <br />HUD MF Security Instrument HUD- 94000M (Rev.11/12) <br />
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