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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
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201406133
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��14��133 <br /> (�} Lender's failure ta properly perfect any lien�r security interest <br /> given as security far the Indebtedness. <br /> (�� Borrower sha�l, at its own cost and expense, d�all of the f�llowing: <br /> r <br /> �1} pay or sat�sfy any judgment�r decre�that may be entered against any <br /> Indemnitee or Indemnite�s in any legal ar administrative proceeding <br /> incident ta any mat�ers against which Indemnitees are entitled to be <br /> indemnified under this Secti�n 48; <br /> �2} reimburse Indemnitees f�r any expens�s paid or incurred in connecti�n <br /> with any matters against which Indemnitees ar� ent�tled to be indemnified <br /> under this Sect�on 4�; and <br /> (3} reimburse Indemn�tees for any and a�l expenses, including f��s and out-of- <br /> pocket e�penses of attorneys and expert witnesses, pa�d or incurred in <br /> conr�ection with the enforcernent by Indemnitees of th�ir rights under this <br /> Sectian 4$, or in monitaring and participating in any legal [including <br /> appellate} or administrative pro�eeding. <br /> �p} In any circumstances in which the indemnity under this Section 48 applies, <br /> Lender may employ its own legal counsel and cor�sultants to prosecute, d�fend or negotiate any <br /> claim or legal or administrative proceeding and Lender, with the prior wr�tten consent�f <br /> Borrower�which shall n�t be unreasonably withheld, delayed or conditioned}, may settle or <br /> comprom�se any action nr legal or administrative praceed�ng. B�rrower shall r�imburs� Lend�r <br /> upan demand far al� casts and expenses incurred by Lender, including al� costs of s�ttlements <br /> entered into in good faith, and the fees and out of pocket expenses�f such attorneys (including <br /> �ut not limit�d t� appellate litigation}and consu�tants. <br /> (q� The provisians of this S�ctior�48 shall be in addition to any and all other <br /> obligations and �iabilities that Borrower may have under applicable law or under other L�an <br /> Dacuments, and ea�h Indemnit�e shall b�entitled to indemnifcation under this Section 48 <br /> without r�gard to whether Lender or that Indemnitee has exercised any rights against the <br /> Mortgaged Property or any other se�urity,pursu�d any rights against any�uarantor, or pursued <br /> any other rights available under the Loan Documents or applicable 1aw. If Borrower consists�f <br /> mare than one entity,the obligati�n of those entities t� indemnify the Indemnit�es under this <br /> Se�tion 4$ shall be joint and several. The o��igatian af Borrower to indemnify the Indemnitees <br /> under this Section 4$ shall sur�i��any repayment�r discharge af the Indebtedness, any � <br /> fareclosure proceeding, any foreclasure sa1e, any d�livery of any deed in lieu of foreclosure, and <br /> any release of record of the �ien of this Security Instrument. N�twithstanding anything in <br /> Section 48 to the contrary, so long as the Loan is insured ar held by HUD, indemnification costs <br /> and reimbursements to Lender ar to any or all Indemnite�s shal� be paid anly from the a�ailable <br /> proceeds of an appropriate insurance poli�y or fram Surp�us �ash �if applicable} or ather escraw <br /> accounts. <br /> (r� So long as th� Loan is insured or held by HUD, all references to Lender in this <br /> Section 48 shall also be c�nstrued to refer ta HUD as its interest appears (so�ely as determined <br /> Pre�i�us versions obsalete Page 39 of 4fl farm HUD-94��D-�R�F�Rev.q3113} <br />
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