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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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201302395 <br />The representations and warranties in this Section 48 shall be continuing <br />representations and warranties that shall be deemed to be made by Borrower throughout <br />the term of the Loan, until the Indebtedness has been paid in full. <br />(g) Borrower shall promptly notify Lender in writing upon the occurrence of any <br />of the following events: <br />(1) Borrower's discovery of any Prohibited Activity or Condition; <br />(2) Borrower's receipt of or knowledge of any complaint, order, notice of <br />violation or other communication from any Governmental Authority or other person <br />with regard to present or future alleged Prohibited Activities or Conditions or any <br />other environmental, health or safety matters affecting the Mortgaged Property or <br />any other property of Borrower that is adjacent to the Mortgaged Property; and <br />(3) any representation or warranty in this Section 48 becoming untrue <br />after the date of this Security Instrument. <br />Any such Notice given by Borrower shall not relieve Borrower of, or result in a waiver of, <br />any obligation under this Security Instrument, the Note, or any other Loan Document. <br />(h) Borrower shall pay promptly the costs of any environmental inspections, tests <br />or audits ( "Environmental Inspections ") required by Lender in connection with any <br />foreclosure or deed in lieu of foreclosure, or as a condition of Lender's consent to any <br />transfer under Section 21, or required by Lender following a reasonable determination by <br />Lender that Prohibited Activities or Conditions may exist. Any such costs incurred by <br />Lender (including the fees and out -of- pocket costs of attorneys and technical consultants <br />whether incurred in connection with any judicial (appellate or otherwise) or administrative <br />process or otherwise) which Borrower fails to pay promptly shall not become an additional <br />part of the Indebtedness as provided in Section 13, unless such advances receive the prior <br />written approval of HUD and provided further that unless approved by HUD, Lender shall <br />have no obligation to make such further advances. The results of all Environmental <br />Inspections made by Lender shall at all times remain the property of Lender and Lender <br />shall have no obligation to disclose or otherwise make available to any party other than <br />Borrower, and so long as the Loan is insured by HUD, to HUD, such results or any other <br />information obtained by Lender in connection with its Environmental Inspections. Lender <br />hereby reserves the right, and Borrower hereby expressly authorizes Lender, to make <br />available to any party, including any prospective bidder at a foreclosure sale of the <br />Mortgaged Property, the results of any Environmental Inspections made by Lender with <br />respect to the Mortgaged Property. Borrower consents to Lender notifying any party (either <br />as part of a notice of sale or otherwise) of the results of any of Lender's Environmental <br />Inspections. Borrower acknowledges that Lender cannot control or otherwise assure the <br />truthfulness or accuracy of the results of any of its Environmental Inspections and that the <br />release of such results to prospective bidders at a foreclosure sale of the Mortgaged <br />Pretious editions are obsolete HUD MF Security Instrument HUD- 94000M (Rev. 04111) <br />Contingent Repayment Mortgage Page 40 FRENCH VILLAGE <br />
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