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201303289
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Last modified
12/31/2013 2:59:17 PM
Creation date
4/29/2013 12:27:37 PM
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DEEDS
Inst Number
201303289
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201303289 <br /> 42 <br /> (3) reimburse Indemnitees for any and all expenses, including fees <br /> and out-of-pocket expenses of attorneys and expert witnesses, <br /> paid or incurred in connection with the enforcement by Indemnitees <br /> of their rights under this Section 48, or in monitoring and <br /> participating in any legal (including appellate) or administrative <br /> proceeding. <br /> (p) In any circumstances in which the indemnity under this Section 48 <br /> applies, Lender may employ its own legal counsel and consultants to prosecute, defend <br /> or negotiate any claim or legal or administrative proceeding and Lender, with the prior <br /> written consent of Borrower (which shall not be unreasonably withheld, delayed or <br /> conditioned), may settle or compromise any action or legal or administrative <br /> proceeding. Borrower shall reimburse Lender upon demand for all costs and expenses <br /> incurred by Lender, including all costs of settlements entered into in good faith, and the <br /> fees and out of pocket expenses of such attorneys (including but not limited to appellate <br /> litigation) and consultants. <br /> (q) The provisions of this Section 48 shall be in addition to any and all other <br /> obligations and liabilities that Borrower may have under applicable law or under other <br /> Loan Documents, and each Indemnitee shall be entitled to indemnification under this <br /> Section 48 without regard to whether Lender or that Indemnitee has exercised any <br /> rights against the Mortgaged Property or any other security, pursued any rights against <br /> any guarantor, or pursued any other rights available under the Loan Documents or <br /> applicable law. If Borrower consists of more than one entity, the obligation of those <br /> entities to indemnify the Indemnitees under this Section 48 shall be joint and several. <br /> The obligation of Borrower to indemnify the Indemnitees under this Section 48 shall <br /> survive any repayment or discharge of the Indebtedness, any foreclosure proceeding, <br /> any foreclosure sale, any delivery of any deed in lieu of foreclosure, and any release of <br /> record of the lien of this Security Instrument. Notwithstanding anything in Section 48 to <br /> the contrary, so long as the Loan is insured or held by HUD, indemnification costs and <br /> reimbursements to Lender or to any or all Indemnitees shall be paid only from the <br /> available proceeds of an appropriate insurance policy or from Surplus Cash or other <br /> escrow accounts. II ff II <br /> `I) JV IVlly QJ IIIC LVQII ■J IIIJUICJ VI held by HUD, all iefeielit.CJ to LCIIUCI III <br /> this Section 48 shall also be construed to refer to HUD as its interest appears (solely as <br /> determined by HUD) and all notifications to Lender must also be made to HUD and all <br /> Lender approvals and exercises of discretion by Lender under this Section 48 must first <br /> have the prior written approval of HUD, provided, that, so long as the Loan is insured or <br /> held by HUD, the reference to Lender as an Indemnitee shall be construed to refer to <br /> HUD, and Borrower's obligations to indemnify HUD as an Indemnitee shall remain in <br /> effect in accordance with this Section 48, notwithstanding the termination or expiration <br /> of insurance of the Loan by HUD. <br />
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