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201406138
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Last modified
7/20/2017 8:56:15 PM
Creation date
9/26/2014 2:35:43 PM
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DEEDS
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201406138
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��14��135 <br /> or Borrower, whi�h may materially impair the �alue of the Col�ateral or the Project or the <br /> aperations thereat; <br /> �g] Filing by or against the Master Tenant af a petition in bankruptcy, for a <br /> reorganization, arrangement or debt adjustment, or for a recei�er, trustee, or similar creditors' <br /> representative for Master Tenant's property or any part there�f, ar of any other proceeding under <br /> any federal or state inso��ency or similar law (and if 5UC�1 �7�t1t1aI7 or pro�eeding is an <br /> involuntary petition or proceeding f led a�ainst the Master Tenant without its acquiescence <br /> therein or thereta at any time, the same is not promptly cantested and, within sixty (�U� calendar <br /> days af the �iling of such in�a�untary p�tition ar pr�ceeding, dismissed or discharged�, or the <br /> making of any general assignment by the Master Tenant for the b�nef t ❑f cr�ditors, or the <br /> Master Tenant d�ssol�es �r is the subject of any disso�ution, wir�ding up ar Iiquidat�on, each if, <br /> for so long as the Laan i s insured or held by HU D, HUD cansents to the treatment of such as an <br /> Event of Default; <br /> (h} The Master Tenant is dissol��d and Iiquidation nf the Master Tenant is <br /> c�mmenc�d in accordance with the Master Tenant's organizational dncuments andlar the law af <br /> the jurisdiction of organization; �r <br /> �i} The Master Tenant changes its name or the jurisdiction �n which it is <br /> located �as that term is defined lI7 th� UC�} or merges or consalidates with or inta an�th�r <br /> Person without the prior written consent of the S�cur�d Party; <br /> (j} Without limiting the generality of Section 3�j}, a change t� �r termination <br /> of any DAISA, nr any new directions instructing a depos�tory bank to transfer funds from the <br /> Gov�rnment Receivables Account to a deposit account that is not then subj ect to a DACA among <br /> the Mast�r Tenant, the Secured Party and the depository bank that maintains such deposit <br /> account, without the prior written consent of the Secur�d Party; or <br /> �k} Any DA�A r�quired by this Agreement or Master Lease Documents or <br /> Loan Documents is not maintained. <br /> 1 U. REMEDIES �N DEFAULT. <br /> �a} Upon the ac�urrenc� of an E�ent of Default,the Secured Party may then, �r <br /> at any time after the occurrence and durxng the c�ntinuation of such Event of Defau�t,upon written <br /> nntice to Master Tenant (A} declare a11 �bligations immediately due ar�d payable, and whereupan <br /> the �bligations wi11 be due and payable automatically and immediately, w�thout notice �r demand, <br /> which the Master Tenant expressly wai�es, and proceed to enforce paymerrt of the �bli�ations; �B} <br /> exercise all of the rights and remedies afforded to the Secured Party�i}pursuant to the terms of the <br /> Master Lease Dn�um�nts and the L�an Documents, �ii} under the U��, andlor(iii} by lavv andlor <br /> in ec�uity �subject,howe�er, to any limitations �mposed by applicable law}; (C) collect and recei�e <br /> the proc�eds af alt Awards (as defined in Exhibit B}, the rights of Master Tenant thereto and <br /> shares af Master Tenant therein b�ing hereby ass�gned t� the S�cured Party, and give praper <br /> receipts and acquittar��es therefar and apply, at its �pti�n, the net proceeds thereof, aft�r <br /> deducting expenses �f collection, as a credit upon any partion, as selected hy the Secured Party, <br /> af the �bli ations; �D} require the Master Tenant to assemble the �ollateral and make it a�ailable <br /> � <br /> Pre�ious versions obsolete Page'I 2 of 2� farm HUD-9�34�-�R�F�Rev.031�3} <br />
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