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��14�1199 12 �4} materially fails t� camply with covenants �n the Note, this Security Instrument or the Re�ulatary Agreement respecting physical care, maintenan��, construction, abandonm�nt, dem��ition, �r insurance against casualty of th� M�rtgaged Prop�rty; or �5} r�tains �oss�ss'r�n of Rents to wh�ch Lender or �ts assigns have tne right of �oss�ssion under the terms of the Loan Documents. 2. UNiF�RM ��ItiI1MERC�AL C�DE SE�URITY A�REEMENT. This Se�ur�ty Instrum�nt �s als� a security agreement und�r the Unif�rm �ommercial ��de for any af the Martgaged Property which, under appfE�able �aw, may be sub�ect to a security inter�st under the Uniform �ommercial �ode, whether ac�uired naw or in the future, and all products and cash proceeds and nan-cash pr�ce�ds ther�of�collecti�ely, "UCC C�Ilateral"}, and Borrower hereby grants to Lender a security interest in the U�� �ol�at�ral. B�rrawer hereby authnrizes Lender ta file financing statements, continuation statem�nts and amendment�, in such f�rm as L�nder may r�quire tv perf�ct or continue the �erfection of this security interest. B�rrower agrees tv ent�r into any agreem�nts, in form as Lender may requir�, that the Uniform ��mmer�ial �ade requEres to perf��t and cant�nue perfecti�n of Lender's security interest �n th� �or�ian of U�C ��llatera� that requires L�nder c�ntroi to attain such perfection. B�rrawer shail pay all filing costs and all c�sts and expenses of any record searches for financing statements that Lender may require. 11Vithout the pri�r writt�n ��nsent of Lend�r, Borr�w�r shal� nat creat� ar permit to exist any vther li�n ar security inter�st in any of the U�C �ollateraf. Borrow�r repres�nts and warrants t� Lend�r that na UCC filings have be�n made aga�nst 8orraw�r, th� Praj�ct or the Project Ass�ts �riar t� the init�af or initiallfinal end�rsement of th� Not� by H U D, and ��rr�wer has taken and shall take na action that �ould giv� rise to such UCC filings, exc�pt f�r any U�� fiiings in connecti�n with th� acqu�sit�on of any Personalty that has been approved in writing by HUD. Borrower alsa represents and warrants to Lend�r that it has not entered into, and wil! not enter Ento, any agr��ment with any party other than L�nder in conjunction wi�h th� present L�an transacti�n that a�l�ws for the perf�ctf�n af any partion of th� U�C C��lat�ral.lf an E��nt of Defauit has �ccurred and is continuing, Lender shaf! have the r�medies af a s�Gured party und�r th� Uniform �ommercial �ode, in addition to a�l r�medies provided by this Security lnstrument or existing under appiicab�e law. In exercising any reme�i�s, Lender may �xercise its remedi�s against the U�� Collateral separately or tagether, and in any order, without �n any way affecting the a�ailability �f Lend�r's �ther r�m�dies. This Security Instrum�nt const�tutes a f'rxture fi�ing financ�ng statement with respect t� any part of the M�rtgaged Praperty which is �r may b�c�me a Fixture and which shall be filed in the Iocal real estate records. 3. ASSiCN11�lENT �F RENTS; APP�INT�IIENT �F RE�EIVER; LENDER IN P�SSESSl�N. Previous editions are❑bsolete HU❑MF 5ecurity Instrument HUC]-94D��M(Rev.�41�1}