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<br />b. HUD shall be entitled to invoke any remedies available by law to redress any
<br />breach or to compel compliance by Borrower with these requirements, including any
<br />remedies available hereunder.
<br />41. BINDING EFFECT. This Agreement shall bind, and the benefits shall inure to,
<br />Borrower, its heirs, legal representative, executors, administrators, successors in office or interest,
<br />and assigns, and to HUD and HUD's successors, so long as the Contract of Insurance continues
<br />in effect, and during such further time as HUD shall be the Lender, holder, coinsurer, or reinsurer
<br />of the Security Instrument, or obligated to reinsure the Security Instrument.
<br />42. PARAMOUNT RIGHTS AND OBLIGATIONS. Borrower warrants that it has not,
<br />and shall not, execute any other agreement with provisions contradictory of, or in opposition to, the
<br />provisions hereof, and that, in any event, the requirements of this Agreement are paramount and
<br />controlling as to the rights and obligations set forth and supersede any other requirements in
<br />conflict therewith.
<br />43. SEVERABILITY. The invalidity of any clause, part, or provision of this Agreement
<br />shall not affect the validity of the remaining portions hereof.
<br />44. RULES OF CONSTRUCTION. The captions and headings of the Sections of this
<br />Regulatory Agreement are for convenience only and shall be disregarded in construing this
<br />Regulatory Agreement. Any reference in this Regulatory Agreement to an "Exhibit" or a "Section"
<br />shall, unless otherwise explicitly provided, be construed as referring, respectively, to an Exhibit
<br />attached to this Regulatory Agreement or to a Section of this Regulatory Agreement. All Exhibits
<br />attached to or referred to in this Regulatory Agreement are incorporated by reference into this
<br />Regulatory Agreement. Use of the singular in this Regulatory Agreement includes the plural and
<br />use of the plural includes the singular. As used in this Regulatory Agreement, the term, "including"
<br />means "including, but not limited to."
<br />45. PRESENT ASSIGNMENT. Borrower irrevocably and unconditionally assigns,
<br />pledges, mortgages and transfers to HUD its rights to the Rents, charges, fees, carrying charges,
<br />Project accounts, security deposits, and other revenues and receipts of whatsoever sort that it may
<br />receive or be entitled to receive from the operation of the Mortgaged Property, subject to the
<br />assignment of Rents in the Security Instrument. Until a default is declared under this Agreement,
<br />a revocable license is granted to Borrower to collect and retain such Rents, charges, fees, carrying
<br />charges, Project accounts, security deposits, and other revenues and receipts, but upon a
<br />Declaration of Default under this Agreement or under the Security Instrument, this revocable
<br />license is automatically terminated.
<br />46. NOTICE.
<br />a. All notices, demands and other communications ( "Notice ") under or
<br />concerning this Regulatory Agreement shall be in writing. Each Notice shall be addressed
<br />to Borrower, with a copy to Lender, at their respective addresses set forth below (and
<br />notices to HUD shall be addressed to the appropriate HUD field office responsible for
<br />servicing the Mortgaged Property), and shall be deemed given on the earliest to occur of
<br />Revious editions are obsolete
<br />Replaces form I-ILD -92466 (11/02)
<br />MR-Ragulatory Agreerrent I-10-92466M (Rev. 4/11)
<br />Page 22 FRIE1CH VLLAGE
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