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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 />Secretary, as amended by rider of even date herewith (collectively, the "Mortgage <br />Restructuring Mortgage "), recorded among the Land Records the jurisdiction in which the <br />Mortgaged Property is located prior to the recordation hereof, which Mortgage Restructuring <br />Mortgage secures a certain Mortgage Restructuring Deed of TrustNote of even date <br />herewith evidencing an indebtedness of the Borrower to the Secretary in the original <br />principal amount of Nine Hundred Eighteen Thousand Two Hundred Seventy - four and <br />70/100 Dollars ($918,274.70) (the "Mortgage Restructuring Loan "). <br />5. Deposits For Taxes, Insurance and Other Charges. Without limiting any terms <br />and conditions contained in the Security Instrument, in order to more fully protect the security of <br />the Contingent Repayment Loan, together with, and in addition to, the payments of Restricted <br />Surplus Cash payable under the terms of the Note (instead of the monthly payments of interest or of <br />principal and interest referenced as payable under the Section 7 of the Security Instrument), the <br />Borrower agrees to comply fully with Section 7 of the Security Instrument, except, however, <br />Borrower shall not have any obligations with respect to mortgage insurance premiums or service <br />charges associated with the Contingent Repayment Loan. Notwithstanding the foregoing, if <br />Borrower is obligated to pay the charges required under Section 7 pursuant to a Mortgage that is <br />superior in priority to the Contingent Repayment Mortgage, Borrower shall not be obligated to pay <br />such charges unless and until Borrower is not otherwise obligated to make them. <br />6. Liens; Encumbrances. Notwithstanding anything to the contrary contained in <br />Section 17 of the Security Instrument, any lien or payment obligation inferior to the Contingent <br />Repayment Loan may only be paid with the express approval of Lender, from funds available to <br />Borrower under the Contingent Repayment Loan. <br />7. Transfers of the Mortgaged Property or Interests in Borrower. Notwithstanding <br />anything to the contrary contained in Section 21 of the Security Instrument, Borrower shall not <br />permit the conveyance, assignment or transfer of any interest in Borrower, without Lender's written <br />consent, which consent may be given or withheld in accordance with and subject to Program <br />Obligations. <br />8. No Impairment. Nothing contained in this Rider shall in any way alter, waive, <br />compromise, annul, impair or prejudice any provision, condition or covenant in the Security <br />Instrument, except as specifically provided herein. <br />9. Binding Effect. This Rider shall be binding upon and inure to the benefit of the <br />Borrower and Lender, and their respective successors and/or assigns. <br />10. Severability. Notwithstanding anything herein contained, if any one or more of the <br />provisions of this Rider shall for any reason whatsoever be held to be illegal, invalid or <br />unenforceable in any respect, such illegality, invalidity or unenforceability shall not affect any other <br />provision of this Rider, and this Rider shall be construed as if such illegal, invalid or unenforceable <br />provision had never been contained herein. <br />Rental - Rider to CR Mortgage 01 -2012 3 FRENCH VILLAGE <br />
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