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201401200
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Last modified
7/20/2017 10:24:51 AM
Creation date
3/3/2014 1:13:25 PM
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DEEDS
Inst Number
201401200
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��14�1��� <br /> 1S <br /> community de�e�o�m�nt. Borrower may charge f�r th� use flf the M�rtgaged <br /> Prop�rty any f�es vr costs approved �y H lJ D as may normalfy be imposed for the use af <br /> such facilities or may wa��e any su�h fees or costs. <br /> V. ADiVI�SSI�NS AND �C�UPAN�Y <br /> 27. RES�DENTIAL UNITS AND SERVICES. If the Pro�ect is subject ta r�gulation of rent <br /> by HUD, Borrower shail mak� r�sid�ntial units and ser�ices of the Project ava�la��e t� <br /> eiigi�ie tenants at charges nat exc��ding thase esta�li�hed in a�cordanc�vv�th a r�ntal <br /> schedu�e appra�ed �n writing by HUD. <br /> �8. LEASE TERMS F�R RESI DENTIAL UN ITS. Res�dent�al u n its shall n�t b� r�nt�d for <br /> a periad �f fess than tnirty �3D} days or for more than 3 years and shall n�t be used for <br /> transEent or hotel purposes. Rental for transient or hot�! purp�ses shall mean: �a} <br /> rental for a period of �ess than th�rty �3�} �ays ar �b} any r�ntal, if the occupants af the <br /> residential units are pr��ided �ustomary h�tel s�rvices such as raom s�rvi�e far faad <br /> and be�erages, maid ser��ce, furnish�ngs �r laundering of linens, and b�llh�p servic�. <br /> ResidentEal un�ts in pr���cts with Security Instruments initially endor�ed f�r �nsurance <br /> pursuant to Section 231 of the Nat��nal Housin� Act, as amended, may b� rented f�r a <br /> period of mor� than 3 y�ars. <br /> 29.��MMERCIAL �N�N-RESIDENTIAL} LEASES. No porti�n af th� Mortgaged <br /> Property shal� b� leas�d for any comm�rcia! purpose or use with�ut re�e�ving HUD's <br /> prior writt�n approva� as t� terms, f�rm and am�unt, exc�pt that for iease renewa�s or <br /> extensions vr amendments in�a[ving n� chang� in terms or use, rent increases are <br /> permitted without HUD appr��al. Barraw�r must d�li�er an �x�cuted ��py �f the <br /> c�mmerc�al L�ase to HUD. <br /> 3�.SUBLEASES. Ali Leases of residential units by Borravtirer to tenants must also <br /> prohi��t assignm�nt of the leasehold int�rest by th� tenant without th� pr�or written <br /> appro�al vf B�rr�wer. All Leas�s �f residential un�ts by �orrow�r to tenants must <br /> prahibit tenants fram �ntering into any su��eases that do not run f�r at I�ast thirty ���} <br /> days and must require that al! subleases b� appro�ed in ad�ance �n writing by <br /> Borr�w�r. L�ases �f residential units mus� proh�b�t the tenant from granting the ri�ht to <br /> occupy th� pr�mises for a period �f I�ss than thirty �3�} days or from furnishing hotel <br /> s�r�ices, as defined in Section 28. Assignm�nt and subi�asing of units by ath�r than <br /> the �enant thereof withaut the pri�r written appro�al of Borrow�r shall be �rohibEted in <br /> th� Lease. U�on disco�ery �f any una�pra��d assignment, sublease or occupancy, <br /> Barr�wer shali, t� the exten� permitt�d by law, imm�diately d�mand cancei�ation andlor <br /> vacation af the �remises, as apprvpriate, and notify HUD thereof. <br /> 31.TENANT SELECTI�N��CCUPANCY. <br /> a. If the Se�u rity I nstru ment is or�g i na�ly a H U D-held purchase money m�rtgage, or is <br /> �riginai�y endorsed for insurance under any Secti�n of the National Housing Act, as <br /> amended, �ther than Secti�n 231 units specially d�sign�d f�r use and occupancy �f <br /> Elderfy Persons exclus�vely, Borrower shall not, in selecting t�nants, d�s�riminat� <br /> , <br /> Prev�aus�ditions ar�ohsofete; Regulatory Agreement HUD-92456M�Rev. 04111} <br /> Replaces form HUD-92456��11�2} <br />
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