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No. 200304289 (as amended and/or assigned through the date hereof, the "Regulatory Agreement "). The Regulatory Agreement is incorporated by reference into and made a part of the Mortgage. D. Pursuant to the terms of the Regulatory Agreement, the Owner and each of its successors, heirs or assigns are bound by the terms of the Regulatory Agreement so long as the Contract of Insurance remains in effect. E. As of the date hereof, the entire indebtedness secured by the Mortgage and evidenced by the Note has been paid by or on behalf of the Owner to the Mortgagee, and the Mortgage and the Note have been released and satisfied, respectively, causing the Contract of Insurance to be of no further force or effect. Therefore, the Owner has requested that the Secretary release the Property from the lien of the Regulatory Agreement and release the Owner from the obligations set forth therein. NOW, THEREFORE, for and in consideration of the termination of the Section 231 mortgage insurance and other good and valuable consideration, the adequacy and receipt of which are hereby acknowledged, HUD does hereby release the Regulatory Agreement filed for record in Recorder's Office, Hall County, in effect with respect to FHA Project No. 103 -11017 and does hereby agree that the Owner, its successors and assigns are released from all obligations set forth in the Regulatory Agreement, which are based on facts or circumstances occurring after the date of this Release; provided however that nothing herein shall constitute a release or waiver of any claims or causes of action, known or unknown that the Secretary may have against the Owner or any other person or entity for violations of the Regulatory Agreement which took place prior to the execution of this document. Iu2MReleaseofRegAgrtt:Faev 9/15/04 (Remainder of this page intentionally left blank) 20/302398 2 FRENCH VLLAGE