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��14�1�� �5 45.PRESENT ASS��NMENT. B�rrower irre�ocably and un�onditi�nally assigns, pledges, martgages and transfers ta HUD its rights to the Rents, charges, fees, carrying �harg�s, Pro�ect accounts, security dep�sits, and other revenues and rece�pts of v�hats�ever sort that it may rec�iv� ar b� entitfed to recei�e frvm the vperation of th� Martgaged Property, subject t� th� assignm�nt �f Rents in th� Secur�ty Instrument. Until a defau�t is declared under this Agreement, a revocable licens� is granted to Borrawer to �oil��t and retain such Rents, �harg�s, fees, carrying charges, Pr�ject acc�unts, security depasits, and other re�enues and re�eipts, but up�n a Declaration of D�fauft under this Agreement or under the Secur�ty �nstrument, this re��able �icense is automatically terminated. 45.N�TICE. a. All n�tices, demands and ath�r communications �"N�t��e"} under �r concern�ng th�s R�gulat�ry Agr�em�nt shall be �n v�riting. Each N�tice shall be addressed ta Borro►nrer, with a Gopy to L�nd�r, at th�ir respecti�e add resses set forth belaw �and nnt�ces to H U D �hali b� addressed t� th� appropriate HUD field office resp�nsible f�r servicing the Mortgag�d Prop�rty}, and shall be deemed g��en �n the earl��st to �ccur of �i} the date when the Notic� is re�ei�ed by the addr�ssee; �ii} th� first Business Day after the Notice �s del��red to a recognized avernight caurier s�rvice, with arrangements mad� for payment vf charges for next Busin�ss Day �e�ivery, or �ii'r} the third Business Day after the Notice is d�posit�d in the United State mai� with postage pr�paid, certif�ed mail, return receipt request�d. The Term "Bus�ness Day" means any day other than a �aturday, a Sunday �r any other day on which Lender or HUD is nat open far busin�ss. b. Any party ta this Agr��ment may change the address to which N�tices intended for it are ta b� dire�ted by means �f N�ti�e given to th� �ther party in acc�rdance with this Se�t�an 46. Each �arty agrees that �t shalf not refuse or r�je�t deli�ery of any Notice gi�en �n ac�ordanCe with this S��tion 4�, that it shall ac�nowledge, in wr�t�ng, th� receipt of any N�t�c� upon request by th� other party and that any Notice rejecte� or r�fused by . it sha�� b� de�m�d for �urpos�s of this Section 4� to ha�e been rec�i�ed by the rej�ctin� party on th� date s� refused or reje�ted, as c�nclusi��ly estabiished by th� r�cords �f th� LJ.S. Pastal Serv�ce or the couri�r servrce. Pr�vious editions are absokete; Regu�a�ory Agreement HU�-924fi�M tRev. �41�1} Replaces form HUD-924�6��110�}