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2 01302395 Covenants. Borrower and Lender covenant and agree as follows: 1. DEFINITIONS. The definition of any capitalized term or word used herein can be found in this Security Instrument, and then if not found in this Security Instrument, then found in the Regulatory Agreement between Borrower and HUD, and /or in the Note. The following terms, when used in this Security Instrument (including when used in the above recitals), shall have the following meanings: (a) "Borrower" means all entities identified as "Borrower" in the first paragraph of this Security Instrument, together with any successors and assigns (jointly and severally). Borrower shall include any entity taking title to the Mortgaged Property whether or not such entity assumes the Note. Whenever the term "Borrower" is used herein, the same shall be deemed to include the obligor of the debt secured by the Security Instrument, and so long as the Note is insured or held by HUD shall also be deemed to be the mortgagor as defined by Program Obligations. (b) "Building Loan Agreement" means the HUD - approved form of the agreement between Borrower and Lender setting forth the terms and conditions for a construction loan. (c) "Business Day" is defined in Section 31. (d) "Claim" is defined in Section 48(m). (e) "Collateral Agreement" means any separate agreement between Borrower and Lender for the purpose of establishing replacement reserves for the Mortgaged Property, establishing an account to assure the completion of repairs or Improvements specified in that agreement, or any other agreement or agreements between Borrower and Lender which provide for the establishment of any other fund, reserve or account including but not limited to those reserves and escrows required by HUD. (f) (g) (h) "Contract of Insurance" is defined in 24 C.F.R. Part 207, Subpart B. "Environmental Inspections" is defined in Section 48(h). "Event of Default" means the occurrence of any event listed in Section 22. (i) "Fixtures" means all property or goods that become so related or attached to the Land or the Improvements that an interest arises in them under real property law, whether acquired now or in the future, excluding all tenant owned goods and property, and including but not limited to: machinery, equipment, engines, boilers, incinerators, installed building materials; systems and equipment for the purpose of supplying or distributing heating, cooling, electricity, gas, water, air, or light; antennas, cable, wiring and conduits used in connection with radio, television, computers, security, fire prevention, or fire Previous editions are obsolete HUD MF Security Instrument HUD -94000M (Rev. 04/11) Contingent Repayment Mortgage Page 6 FRENCH VILLAGE