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title to the Mortgaged Property against all claims and demands, subject to said easements and restrictions. Covenants. Borrower and Lender covenant and agree as follows: 1. DEFINITIONS. The definition of any capitalized term or word used herein can be found in this Security Instrument, and then if not found in this Security Instrument, then found in the Regulatory Agreement between Borrower and HUD, and /or in the Note. The following terms, when used in this Security Instrument (including when used in the above recitals), shall have the following meanings: (a) "Borrower" means all entities identified as "Borrower" in the first paragraph of this Security Instrument, together with any successors and assigns (jointly and severally). Borrower shall include any entity taking title to the Mortgaged Property whether or not such entity assumes the Note. Whenever the term "Borrower" is used herein, the same shall be deemed to include the obligor of the debt secured by the Security Instrument, and so long as the Note is insured or held by HUD shall also be deemed to be the mortgagor as defined by Program Obligations. (b) "Building Loan Agreement" means the HUD - approved form of the agreement between Borrower and Lender setting forth the terms and conditions for a construction loan. (c) "Business Day" is defined in Section 31. (d) "Claim" is defined in Section 48(m). Previous editions are obsolete 201302389 (e) "Collateral Agreement" means any separate agreement between Borrower and Lender for the purpose of establishing replacement reserves for the Mortgaged Property, establishing an account to assure the completion of repairs or Improvements specified in that agreement, or any other agreement or agreements between Borrower and Lender which provide for the establishment of any other fund, reserve or account including but not limited to those reserves and escrows required by HUD. (f) "Contract of Insurance" is defined in 24 C.F.R. Part 207, Subpart B. (g) "Environmental Inspections" is defined in Section 48(h). (h) "Event of Default" means the occurrence of any event listed in Section 22. 6 HUD MF Security Instrument HUD- 94000M (Rev.11/12)