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<br /> � �`7-UE� ;? 334
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<br /> � �_ � � (dj "AAaitBa&�����PenY"� iacludes �a12� P�PeCtS'.��seal,� persoaal, oi �mixed, covered by� the mr�rigage or. m+ortgages� � ` �
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<br /> " a �,9. , sersuuag ihe ncte eadorsed 53r iasuraace or #ield by the S�cretary:
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<br /> S �� ( e3 :`Project" incYudes the mortgaged psepertq aad al! 3ts atfxer assets c�f w3�aLsoeuec aature or whaRsoevrr ,: ' S� ,
<br /> , situate, used i:n or awned bq the bussaess coaducted on said snortgaged p�+aperty, whica business is ;piovid- � - • ' �
<br /> �,� ;
<br /> ' �a� ing housing aaad otlser acti+ritaes as ara ixxcideatai t}�eceto, �, �
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<br /> a r�,`�,�'; �{f} "Stupius Cash" meaas any eash remaiaEng after_ , " r , . ,,
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<br /> ; �� (1) the payment of: � :` „'
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<br /> � � (i) A!I sums due or curreatly reqnired to be gaid uader the tesms o£ any mortgage ar note insaied ar �
<br /> �;� held by the �ecaetary; ' �' ; '
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<br /> � {ii) A31 amoanss reqnired to be c�e�osited in the reserve fua<} for replecements; _ �'
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<br /> ' � . (ui} All ahL3gatioa of the project a�thez thaa tise iz�sured mortgage unless funds tor paymeat are ses aside ' '.
<br /> ;� o� deEezmeaio£ payaeatf�asb+e�n appsoved by tha Secretary; aad �
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<br /> � � � ' (2) the segregation of: ,.
<br /> ,y� (i) Aa amouni egual iv ihe aggregate flf ail speciai fuxsds requirei3 to be mainta'sx�3 bs�. the praject; °'
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<br /> :� �u? �+13 tea�at srcurity deposits held: '
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<br /> ,4 � {�? "�isL:iL»stioa" :nee� :zay withdrawal or 2akisg of cash or aay ssseLz of the project, iacludiag these�rega_ M� .
<br /> , � tion of cash oz assets far s�sequent matfidzawai vvithia t}ce iimitatioas a€ Paragragh6 (e} hrsea£, aad ex- �,
<br /> � aluding paymeat for reasoaab3e eapeases inddeni to the operation aad maiauenaace af x�e praject. ,'
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<br /> ° ��' �h) "Default" meaas a defauit declazed bp kfie Secretary wFiea a vioiatioir o£ rfiis Ageesne�z is aot cpr- � ' `
<br /> rected to his satisfaction veiY�ia Lhe time aZlowed bv t3�is Agreemertt or such furXher tiase as may be allaw-
<br /> � ed by tht Secretarq after writtea aotace;
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<br /> , ; ; ( i) "Sectiaa" refers to Sectioa of the Natioaal Hovsing Act, as .affiendex£.
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<br /> � '.� ; 14. This iastrumeac slsall bias€, aac4 tae beae€its shalt inure to, Lhe respective Ownecs, L�eir heirs, legal segresea-
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<br /> ;,% ' tafine�s, esecvtors, admiaisraators, successocs, 3n oifice ox icrtenesi, and assi�;as, aad to the SecaeSary
<br /> , �„` aad h:s s��tssurs so loag as #he cetttcact a4 mortgage insurance coaunues ia effect, aad during such fiar« ' . . ,'� ' `
<br /> r �$ �. Yhsr time as t3�e Secresary skaii be tbe owaa, 3�ola+�r, or zeinstszu of t�e �ortgage, ar obligated to r�iu-
<br /> � , sure the morcgage.
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<br /> ` I5. Owners warcant th�x they }aave no2, and will aot, e�cecuee any other a�eezneet with provisioas matrarlictarg ,
<br /> ,x"t ;� o£, or in v�acsiLioa to, the provisions Fnereaf, and that, in any evesst, the requiremeats of 4h3s Agreemen2 arc �.
<br /> , para�ount and coatzolling as iot.herighis and obliga2ioas set fotih and supersede any aher requizemenhs tn
<br />� q'� � cocsflicit zherewi2h . �
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<br />�� (� 16. 'The invsa2id":fy of aa�y classsa, part or �uo�rision of tnis Agrcerseat s�aall met aifect the vaiidxiq ac cE�e z�Sa�i�-
<br /> y iag portiaas therevf. ,
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<br /> y` '� 29. Thefo2lomiagO�Naers: GRAt�1L� VIE 'W APAR7ME ?�ITS . LT6 . , AN2? MI �LtA#��2 . s�. , SE �..1� IN ,
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<br />� �. .. . � HEOFJ' URE� � AN . S�LDSt^1 AhtD� STAS�iL.EY G . SIL.YERN9.AdJ:. � .: - . .
<br />� � �� cACti A GENEFYAL PA1R '�NER r- r .
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<br />�, � do aot assume ersonai liabilit for ments due uades the aote azad saari a
<br /> P Y P�Y g ae, or fos the pavmeazs to tt�e
<br />�� � sese�re f�^ replacements, or for matteis noi �nder iheir coaztol, pravided fEvat said Ow�rs sSali recaain
<br /> �� 2iabl� and�r Uxis Agreeaeat aa3y with resprca zo t2r maiters hereanahe� staie�; aasa�dce
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<br /> x , ,:,� (a) for fxz�ds or pzoperty af the projecY comiag iaio the;r ?�.aac� wicich, bs• *he �rovisioas heneoi, z3aey ase
<br />+� �?' act eatii3ed to retain: aad
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<br /> r t > � (h) €or their ov�n acYs and dee�d:s nr acis aad Beeeis af other wfiich t1�ey have authorized in vaotaLo� of c?:e
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<br /> fa ° pmvisiasts .�serenf. :r�' `
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