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201406133
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201406133
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Last modified
7/20/2017 8:55:27 PM
Creation date
9/26/2014 2:16:30 PM
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DEEDS
Inst Number
201406133
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��14��133 <br /> or terminate any Lease as such rights are Iimited or affe�ted by the terms of the Loan D�cuments <br /> and Program �bligations. Upon the occurrence of an Event of Default and throughaut its <br /> continuatian,th�perm i ssi�n gi�en to Borrower pursuant to the preceding sentence to exerci se �ts <br /> rights, pawer and authority under Leases shall automatical�y terminat�. B�rrower shall cornply <br /> with and obser�e Borrovver's abligations under atl Leases, including Borrower's abligati�ns, if <br /> any, pertaining to the maintenance and disposition�f security deposits. <br /> �c} Borrovver acknowledges and agrees tha�the exercise by Lender, either directly or <br /> by its designee, of any af the rights conferred under this S�ction 4 shall nat be construed to make <br /> Lender a lender-in-possession of the Mortgaged Prop�rty so long as Lender, or an authorized <br /> agent of Lender, has not entered into actual possession of the Land and the Improvements. The <br /> acceptance by Lender of the assignment af the Leases pursuant ta Section 4(a} shall n�t at any <br /> time or in any event obligate Lender to take any a�tion under this Security �nstrument or to <br /> expend any money or to incur any expenses. Lender shall not be liable in any way for any injury <br /> or damage to person or praperty sustained by any person or persons, firm or corporatian in or <br /> about th� Mnrtgaged Praperty unless Lender is a lender-in-passession. Prior to Lender's actual <br /> entry into and taking possession of the Mor�gaged Property, Lender shall nat�1��e obli�ated to <br /> perform any of the t�rms, covenants and conditinns c�ntained �n any Lease �or otherwise ha�e <br /> any obligation with respect to any Lease}; �2}be obligated to appear in or defend any action or <br /> praceeding relating ta the Lease or the Mortgaged Property; or(3}be respansible f�r the <br /> operati�n, contro�, care, management or repair of th�Mortgaged Property or any portion of the <br /> Mortgaged Property. The�x�cut�on af this Security Instrument by Barrower shall constitute <br /> c�nc�usi�e evid�nc�that all responsibi�ity far the operation, control, care, managem�nt and <br /> repair of the Mortgaged Property is and sha�l he that of Borrower,prior to �uch actual entry and <br /> taking of poss�ssion. <br /> (d} �[lpon deliv�ry �f Notice by Lender to Borrower of Lender's exercise of Lender's <br /> rights under this Section 4 at any time after the occurrence�f an Event af Default, and without <br /> th�ne�essity af Lender ent�ring upon and ta.king and maintaining�ontral of the Mortgaged <br /> Praperty directly, by a receiver, or by any other manner or proceeding permitted by the laws af <br /> the Prop�rty Jurisdiction, Lender immediately shall have all rights,powers and authority granted <br /> to Borrawer under any Lease, �ncluding the right, power and authority ta modify the terms of any <br /> such Lease, or extend or terminate any such Lease. <br /> (e} Borrower shall not receive or accept, nor permit�peratnr t� receive ar acc�pt, <br /> Rent under any Lea�e (whether resident�a� ar non-residential} for more than two months in <br /> ad�ance. <br /> 5. PAYMENT �F INDEBTEDNESS; PERF�RMAN�E UNDER THE L�AN <br /> DUCUMENTS; PREPAYMENT PREMIUM. B�rrawer shall pay the Indebtedness�vhen due <br /> tn acC�rdance with the terms of the Note and this Security Instrument and shal�perfarm, obser�e <br /> and comply with all oth�r pro�isions of the Note and this Security Instrument. Barrower shall <br /> pay a prepayment premium in connectian with certain prepayments of the Indebtedness, <br /> including a payment made after Lender's exercise of any right nf a�celeration nf the <br /> Indebt�dness, as pra�ided in the Note. <br /> Previous vsrsions abs�lete Page 15 of 4D fiarm HUa-940�a-C]RCF�Re�.D3113} <br />
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