Laserfiche WebLink
��14��133 <br /> permitted use that was in �ffect at the time of initiallfinai endorsement, (d� �stablish any <br /> condominium or�ooperative regime with respect to the Mortgaged Property, �e} materially <br /> change any un�t configurations ar change the number of units in the Mortgaged Property, (�] <br /> combine all or any part of the M�r�gaged Property with all or any par�of a tax par�el which is . <br /> n�t part�f the Martgaged Property, �g} suhdi�ide or otherwise split any tax parcel constituting <br /> all or any par�of the M�rtgaged Property, �r(h} sa lon�as the Note is insured �r held by HUD, <br /> permit the Mortgaged Property to be used as transient housing or as a hotel in violation of <br /> Section S I 3 of the National Housing Act, as amended. <br /> 13. PRUTE�TI�N �F LENDER'S SECURITY. <br /> (a} �f Borrovv�r fails to perfnrrn any of its ol�ligations under this Security Instrument, <br /> Note or B�rr�wer's Regulatory Agreement, or if any action vr pro�eeding is�ommenced which <br /> purports to affect the Mortgaged Property, Lender's security or Lender's rights under this <br /> Security Instrument, tncluding�minent domain, insolvency, �Vaste, code enforcem�nt, C1V1I aC <br /> crirninal farfeiture, er�forcement of Hazardous M.ater�ais Lavvs, fraudulent con�eyance or <br /> reorganizations ar proceedings inv�lving a l�ankrupt or decedent,then Lender at Lender's optian <br /> may make such appearances, ad�ance such sums and take such actions as Lender reasonably <br /> deems necessary t�perform such obligations of B�rrower and to protect Lender's interest, <br /> including(1}payment of fees and out-of-po�ket exp�nses of attorneys �including fees for <br /> litigatinn at all le�els}, accountants, inspectors and consultants, �2�entry upon the Mortgaged <br /> Property to make repairs ar secure the Mor�gaged Property, �3}procurement�f the insurance <br /> required hy Sectian �9, and�4}payment of am�unts whi�h Barrower has failed t�pay under <br /> Sectian 16 or any other Section of this Security Instrumer�t. <br /> (b} Any amounts ad�ar�ced by Lender for taxes, special assessments, water rates, <br /> which are liens pr��r to this Security Instrument, insurin�th� Praj ect and mor�gage insurance <br /> premiums,paid after an Event of I]efault, shall be added to, and b�came part of the <br /> Indebtedness, and shall be immediately due and payable and shall b�ar interest from the date of <br /> the ad�ance until paid at the interest rate�specified in the Note. So long as th� Loan is insured ar <br /> held by HUD, Lender does not ha�e any obligation to mak� advances��cept as requir�d und�r <br /> Program �bligations, and any ad�ance by Lender oth�r than as required by Program �bligati�ns <br /> reyuires prior HUD appraval hefore such ad�ance car�he added to th� Indebtedness. <br /> �c} Nathing in Se�tion 13 shall reyuire Lender to incur any expense nr take any action <br /> to protect its security. <br /> 14. INSPECTIC]N. Upon r�asonab�e noti�e, Lender andlor HUD, a�dlor the agents, <br /> repr�sentati�es, and designees of either, may make or cause to be made entries upon and <br /> inspect�ons of the Mor�gaged Property �including any en�ironmental inspections and t�sts} � <br /> during normal business hours, ar at any other reasonable time. <br /> 15. B��KS AND REC�RDS; FINANCIAL REP�RTING. Borro�ver shall <br /> comply with the books, records, and reporting requirements of the Borrower's Re�ulatory <br /> Agreement. <br /> Previous�ersians obsole#e Page �D of 40 form HUD-94�00-�RCF�R�v.�3113} <br />