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201303290
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Last modified
12/31/2013 3:00:35 PM
Creation date
4/29/2013 12:22:33 PM
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DEEDS
Inst Number
201303290
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201303290 <br /> 23 <br /> holder, after receiving such Notice and demand, may declare the whole Indebtedness <br /> due and payable and thereupon proceed with foreclosure of the Security Instrument or <br /> assignment of the Note and Security Instrument to HUD as provided in Program <br /> Obligations. Upon assignment of the Note and Security Instrument to HUD, HUD may <br /> then proceed with the foreclosure of the Security Instrument; <br /> iii. Collect all Rents and charges in connection with the operation of the Project and <br /> use such collections to pay Borrower's obligations under this Agreement and under the <br /> Note and Security Instrument and the necessary expenses of preserving and operating <br /> the Mortgaged Property; <br /> iv. Take possession of the Mortgaged Property, bring any action necessary to <br /> enforce any rights of Borrower growing out of the Mortgaged Property's operation, and <br /> maintain the Mortgaged Property in decent, safe, and sanitary condition and good <br /> repair; <br /> v. Apply to any court, state or federal, for specific performance of this Agreement, <br /> for an injunction against any Violations of this Agreement, for the appointment of a <br /> receiver to take over and operate the Project in accordance with this terms of the <br /> Agreement, or for such other relief as may be appropriate, as the injury to HUD arising <br /> from a default under any of the terms of this Agreement would be irreparable and the <br /> amount of damage would be difficult to ascertain; and, <br /> vi. Collect reasonable attorney fees related to enforcing Borrower's compliance with <br /> this Agreement. <br /> c. Any forbearance by HUD in exercising any right or remedy under this Agreement <br /> or otherwise afforded by applicable law shall not be a waiver of or preclude the exercise <br /> of any right or remedy. <br /> 39. MEASURE OF DAMAGES. The damage to HUD as a result of Borrower's <br /> breach of duties and obligations under this Agreement shall be, in the case of failure to <br /> maintain the Mortgaged Property as required by this Agreement, the cost of the repairs <br /> required to return the Project to decent, safe and sanitary condition and good repair. <br /> This contractual provision shall not abrogate or limit any other remedy or measure of <br /> damages available to HUD under any civil, criminal or common law. <br /> Previous editions are obsolete; Regulatory Agreement HUD-92466M(Rev. 04/11) <br /> Replaces form HUD-92466(11/02) <br />
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