201401200 - Laserfiche WebLink

Browse

��14�1�� 9 �I. "Vllaste" m�ans a faifure to k�ep the M�rtgaged Property in d�c�nt, saf� and sanitary c�nd�tion and in good repa'rr. During any p�riod �n wh��h HUa insures the Loan or holds a secur�ty interest on th� Mortgag�� Proper�y, VVaste is comm�tted when, with�ut Lender's and HUD's express written consent, Borrower: ��} phy�ica!!y changes the Mortgaged Properky, whether neg��g�ntly or intenti�nal�y, in a manner that reduces its value; ��} fails t� maintain and repair the Martgag�d Property in ac�ordanc� with Pragram �b��gations; �3} fails to pay b�for� delinquency any Taxes secured by a Eien ha��ng �rior�ty ��er the Security I nstrum�nt; �4} materiafly fails t� com�ly w�th covenants in the Note, the Security lnstrument or this Regulatory Agreement respe�ting physical care, maintenanc�, Gonstruction, abandonment, demolition, or insurance against �asualty �f th� Mortgaged Property; or ��} r�tains possessi�n of Rents to which L�nd�r ar its assign� have th� right �f possession under the terms af the Loan D�cuments; !!. C�NSTRUCTl�N; REFINANCEN� 2. ��NSTf�UCTI�N FUNDS. Barrovtirer shalE keep funds of th� Mort�aged Pr�perty to be used for r�pairs or for c�nstructian �r substant�al rehabilitat�on separate and apart from nperating funds vf the Mortgaged Property. Funds for canstruGti�n ar substantiaf rehabilitat��n are �dentifi�d fn the Building Loan Agreement andlor Constru�tion Contract. 3. UNPAID �R �UTSTANDIN� �BLIGATI�NS. Borrower certifies, upon final or initiallfinal endorsement �f th� Note by HUD, Borr�wer shall have no unpa�d obl�gations in cannect��n with the �ur�has� of the Mortgaged Proper�y, the construction or re�air of the M�rtgag�d Pr�perty, or w�th r�s��ct to th� Security Instrum�nt, exce�t such unpaid �bligations a� ha�e the written approvai of HUa as to term�, form and am�unt; and, �x��t for th��e o�[igatians appro�ed by H U D in writing, the Land shall b� paid far in full and is fre� from any �iens or purchase m�ney obligat��ns, or if the Land is sub�ect to a leas�hold interest, it must be subj�ct to a HUD appr�ved i�as�, and it shall b� free from any I�en. As of th� date here�f, Borrower has no knawl�dg� of any li�ns or encumbrances against the Mortgaged Property that ar� not ref�ect�d as except�ans to co�erage i n the I�nder's title �ol�cy i nsu ring the Secu rity I nstrument accepted by H U D or that are n�t shown an the U�C search. All contractual obligations of B�rrawer or on benalf of Borrower w�th any party shall �e fu�fy dis�losed t� HUD. Pre��ous editions are obsolete; Regulatflry Agreement HUD-9�466M tRe�. 041��} Replaces form HUD-924fi6�111�2}