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201302395
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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 />2. Defined Terms. The definition of any capitalized term or word used herein can be <br />found in the Security Instrument or this Rider, and if not found in the Security Instrument or this <br />Rider, then found in the Regulatory Agreement and/or the Note. The following terms shall have the <br />following meanings: <br />(a) "Program Obligations" shall have the meaning found in the Security <br />Instrument but shall be deemed to include all terms and conditions contained in the Housing <br />Assistance Payments Full Mark -To- Market Renewal Contract for the Project ( "HAP <br />Contract "), the Rehabilitation Escrow Deposit Agreement (if any), and use agreements <br />executed as part of the Restructuring. <br />(b) "Regulatory Agreement" as used in the Contingent Repayment Mortgage <br />means the Regulatory Agreement executed by Borrower for the Mortgage Restructuring <br />Loan, as amended by the contemporaneously executed Rider to U.S. Department of Housing <br />and Urban Development Regulatory Agreement For Multifamily Projects (HUD- 92466M). <br />3. Acceleration. Without limiting the provisions contained in Section 43 of the Security <br />Instrument, the Note shall become immediately due and payable, at the option of the holder thereof, <br />in accordance with the provisions for acceleration contained in the Note, which provisions are <br />incorporated herein by reference and made a part hereof. <br />4. Subordinate Lien. Notwithstanding any provision of the Contingent Repayment <br />Mortgage or the Note to the contrary, the Contingent Repayment Mortgage, and all of the parties' <br />respective rights and powers hereunder, are subject and subordinate to: <br />(a) the rights and obligations of the parties set forth in that certain Green <br />Initiative Use Agreement for Mark -to- Market Projects of even date herewith (the "Use <br />Agreement"), by and between the Borrower and the Secretary, to be recorded among the <br />Land Records prior to the recordation hereof. <br />(b) that certain Multifamily Deed of Trust, Assignment of Leases and Rents and <br />Security Agreement of even date therewith , granted by the Borrower for the benefit of Love <br />Finding Corporation, a Virginia corporation (the "Mortgagee "), of even date herewith <br />(the "First Mortgage "), to be recorded among the land records of the jurisdiction in which <br />the Mortgaged Property is located (the "Land Records ") prior to the recordation hereof and <br />encumbering the Mortgaged Property, which First Mortgage secures that certain Deed of <br />Trust Note of even date herewith (the "First Mortgage Note ") evidencing an indebtedness <br />of the Borrower to the Mortgagee in the original principal amount of One Million One <br />Hundred Eighty - six Thousand Six Hundred and No /100 Dollars ($1,186,600.00) (the <br />"Loan ") <br />(c) that certain Multifamily Deed of Trust, Assignment of Leases and Rents and <br />Security Agreement of even date therewith , granted by the Borrower for the benefit of <br />Rental - Rider to CR Mortgage 01 -2012 2 FRENCH VILLAGE <br />
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