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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 /> 32. SALE �F N�TE; �HAN�E IN SERVI�ER. The Note�r a partial interest in <br /> the Note �together with this Security Instrument} nnay be sold one ar mare times withaut prior <br /> Notice to Borrow�r. A sale may result in a�hange of the laan ser�icer. There also may be one <br /> or mare changes of the Ioan s�r�icer unreiated ta a sa�e of the Note. If there is a sale ar transfer <br /> of all�r a partial interest in the Note ar a change af the loan ser�icer, Lender shall be responsihle <br /> for ensuring that Borr�wer is gi�en Notice�f the sale,transfer andlor change. <br /> 33. SINGLE ASSET B�RR�WER. Unt�l the Indebtedness is pa�d ir� ful� or unless <br /> otherwise appro�ed in writin�by HUD so lnng as the Laan is insured or held by HUD, (a} <br /> Borrovver shall be a single purpose entity and shall maintain the assets of the Mortgaged Property <br /> in segregated accounts in accordance w�th the Borrovver's Regulatory Agreement and Pragram <br /> �b�igati�ns and (b} B�rrower(1} sha11 not a�quire any real or personal property other than the <br /> Mortgaged Pr�perty and personal pr�perty r�lated ta the operati�n and maintenar�ce of the <br /> Mortgaged Property, and so long as the Loan is insured or held by HUD, except pursuant to the <br /> Borrower's Regulatory Agreement and Program �biigations and�2� shall not own ar operate any <br /> business ather than the ovvnership, mana�em�nt andlor�peration of the Mortgaged Property, and <br /> so long as the Loan is insured or held by HUD, except pursuant to the Barrawer's Regulatory <br /> Agreement and Program �bligations. <br /> 34. SU�CESS�RS AND ASSI�NS B�UND. This S�curity Ir�strument shall bind, <br /> and the rights granted by this Security Instrument shal� inure to,the resp�ctive successors and <br /> assigr�s af Lender and B�rrower. <br /> 35. J�INT AND SEVERAL LIABILITY. If mare than one entity signs this <br /> Security �nstrument as S�rrower,the ob�igations of such entities shall be j oint and several. <br /> 36. RELATI�NSHIP �F PARTIES; N�THIRD PARTY BENEFICIARY. <br /> �a� The relationsh�p between Lender and Borrovver shall be s�lely that af�r�ditor and <br /> debtor, respectively, and nothing cantained lI1 t�715 Security Instrument shall create any other <br /> relatianship betw�en Lender and Borr�wer. <br /> �b� No cred�tflr of any party to this Security Instrument and no other person �the term <br /> "person" 1rlCIUC��Sa �]Ut 15 I1�t 111171t�C�t�, a.I7y C�ri7117erCla� �T g�V�I"t7t17erltal e�ltlty Ur 1I15t1tL1t1�I7} <br /> shall be a third party ben�ficiary�f this Se�urity Instrument,the N�te, or so long as the Loan is <br /> insured or held by HUD ,the Borro�ver's Regulatory Agreement. Without limiting the generatity <br /> of the preceding sentence, (1}any ser�icing arrar�gement between Lender and any loan ser-v�cer <br /> for loss sharing or interim advancement of funds shal�constitute a contractual obligation of such <br /> loan ser�icer that is independent of the o�ligatior� of B�rrower for the paym�nt of the <br /> indebtedness, �2} Borrower shali not be a third party benefciary of any servicing arrangement, <br /> ar�d(3�n�payment by the loan servi�er under any ser-vicing arrangement sha�l reduce the <br /> amount of the Indebtedness. . <br /> 37. SEVER.ABILITY; AMENDMENTS. The in�alidity�r unenf�rceability of any <br /> pravision af this Security Instrument shall not aff�ct the va�idity or enforceability of any other <br /> pr��is�on, and all other pro�isinns shall remain in full f�rce and effe�t. This Security Instrument <br /> contains the entire agreement among the parti�s as to the rights granted and the obligations <br /> Previous�ersions obsalete Page 3D of 40 form HUfl-940D0-�RCF�Rev.43113} <br />
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