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201302390
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Last modified
8/19/2014 2:22:39 PM
Creation date
3/27/2013 3:29:55 PM
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DEEDS
Inst Number
201302390
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201302390 <br />24 <br />holder, after receiving such Notice and demand, may declare the whole Indebtedness <br />due and payable and thereupon proceed with foreclosure of the Security Instrument or <br />assignment of the Note and Security Instrument to HUD as provided in Program <br />Obligations. Upon assignment of the Note and Security Instrument to HUD, HUD may <br />then proceed with the foreclosure of the Security Instrument; <br />iii. Collect all Rents and charges in connection with the operation of the Project and <br />use such collections to pay Borrower's obligations under this Agreement and under the <br />Note and Security Instrument and the necessary expenses of preserving and operating <br />the Mortgaged Property; <br />iv. Take possession of the Mortgaged Property, bring any action necessary to enforce <br />any rights of Borrower growing out of the Mortgaged Property's operation, and maintain <br />the Mortgaged Property in decent, safe, and sanitary condition and good repair; <br />v. Apply to any court, state or federal, for specific performance of this Agreement, for <br />an injunction against any Violations of this Agreement, for the appointment of a receiver <br />to take over and operate the Project in accordance with this terms of the Agreement, or <br />for such other relief as may be appropriate, as the injury to HUD arising from a default <br />under any of the terms of this Agreement would be irreparable and the amount of <br />damage would be difficult to ascertain; and, <br />vi. Collect reasonable attorney fees related to enforcing Borrower's compliance with <br />this Agreement. <br />c. Any forbearance by HUD in exercising any right or remedy under this Agreement or <br />otherwise afforded by applicable law shall not be a waiver of or preclude the exercise of <br />any right or remedy. <br />39. MEASURE OF DAMAGES. The damage to HUD as a result of Borrower's breach <br />of duties and obligations under this Agreement shall be, in the case of failure to <br />maintain the Mortgaged Property as required by this Agreement, the cost of the repairs <br />required to return the Project to decent, safe and sanitary condition and good repair. <br />This contractual provision shall not abrogate or limit any other remedy or measure of <br />damages available to HUD under any civil, criminal or common law. <br />40. COMPLIANCE WITH LAWS. <br />VIII. MISCELLANEOUS <br />Previous editions are obsolete; Regulatory Agreement HUD- 92466M (Rev. 04/11) <br />Replaces form HUD -92466 (11/02) <br />
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