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do(es) not assume personal liability for payments due under the Note and Security Instrument, or <br />for the payments to the Reserve for Replacements, or for matters not under their control, provided <br />that said individuals /entities shall remain personally liable under this Agreement only with respect <br />to the matters hereinafter stated; namely: (a) for funds or property of the Project coming into its <br />hands which, by the provisions hereof, it is not entitled to retain; (b) for authorizing the conveyance, <br />assignment, transfer, pledge, encumbrance, or other disposition of the Mortgaged Property or any <br />interest therein in violation of Section 36(a) of this Agreement without the prior written approval of <br />HUD; and (c) for its own acts and deeds, or acts and deeds of others, which it has authorized in <br />violation of the provisions hereof. The obligations of the individuals /entities referenced above shall <br />survive any foreclosure proceeding, any foreclosure sale, any delivery of any deed in lieu of <br />foreclosure, any termination of this Agreement, or any release of record of the Security Instrument. <br />Previous editions are obsolete <br />Replaces form HUD -92466 (11/02) <br />201.302392 <br />[SEE ATTACHED COUNTERPART NON - RECOURSE RIDER SIGNATURE PAGE] <br />ATTACHED EXHIBITS. The following Exhibits are attached to this Regulatory Agreement: <br />[X] Exhibit A - Description of the Land (required). <br />[X] Rider to U.S. Department of Housing and Urban Development <br />Regulatory Agreement for Multi - Family Projects (HUD- 92466M) <br />(The remainder of this page intentionally left blank.) <br />Mt-Regulatory Agreerrent W- 92466M(Ray.4/11) <br />Page 24 FRBJCFI VLLAGE <br />