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201302395
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Last modified
3/27/2013 4:41:58 PM
Creation date
3/27/2013 3:39:28 PM
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DEEDS
Inst Number
201302395
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20/302395 <br />(2) All non - residential Leases, including renewals or extensions of existing <br />Leases but excepting Leases of the entire Project, also shall provide that (i) the <br />tenant shall attorn to Lender and any purchaser at a foreclosure sale, such <br />attornment to be self- executing and effective upon acquisition of title to the <br />Mortgaged Property by any purchaser at a foreclosure sale or by Lender in any <br />manner; (ii) the tenant agrees to execute such further evidences of attornment as <br />Lender or any purchaser at a foreclosure sale may from time to time request; (iii) the <br />Lease shall not be terminated by foreclosure or any other transfer of the Mortgaged <br />Property; and (iv) after a foreclosure sale of the Mortgaged Property or after transfer <br />of the Mortgaged Property to Lender by a deed -in -lieu of foreclosure, Lender or any <br />purchaser at such foreclosure sale may, at Lender's or such purchaser's option, <br />accept or terminate such Lease. <br />(g) Borrower shall not receive or accept Rent under any Lease (whether <br />residential or non - residential) for more than two months in advance. <br />5. PAYMENT OF INDEBTEDNESS; PERFORMANCE UNDER LOAN <br />DOCUMENTS; PREPAYMENT PREMIUM. Borrower shall pay the Indebtedness when <br />due in accordance with the terms of the Note and this Security Instrument and shall <br />perform, observe and comply with all other provisions of the Note and this Security <br />Instrument. Borrower shall pay a prepayment premium in connection with certain <br />prepayments of the Indebtedness, including a payment made after Lender's exercise of <br />any right of acceleration of the Indebtedness, as provided in the Note. <br />6. EXCULPATION. Except for personal liability expressly provided for in this <br />Security Instrument or in the Note or in the Regulatory Agreement, the execution of the <br />Note shall impose no personal liability upon Borrower and LORNA B. RATONEL for <br />payment of the Indebtedness evidenced thereby and in the Event of Default, the holder of <br />the Note shall look solely to the Mortgaged Property in satisfaction of the Indebtedness and <br />will not seek or obtain any deficiency or personal judgment against Borrower and LORNA <br />B. RATONEL except such judgment or decree as may be necessary to foreclose or bar <br />its interest in the Mortgaged Property and all other property mortgaged, pledged, conveyed <br />or assigned to secure payment of the Indebtedness; provided, that nothing in this Section <br />6 of this Security Instrument and no action so taken shall operate to impair any obligation <br />of Borrower under the Regulatory Agreement. <br />7. DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. <br />(a) Borrower shall pay to and deposit with Lender, together with and in addition <br />to the monthly payments of interest or of principal and interest payable under the terms of <br />the Note on the first day of each month after the commencement of amortization under the <br />Note, and continuing until the debt secured hereby is paid in full, the following sums: <br />Previous editions are obsolete HUD MF Security Instrument HUD- 94000M (Rev. 04111) <br />Contingent Repayment Mortgage Page 17 FRENCH VILLAGE <br />
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