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2� 1 ���43�
<br /> reins�:rer of the Borrower's Security Ir�strumer�t, or ob�igated to reinsure the Note ar t�e
<br /> BorroWer's Sec�rity Instrumer�t.
<br /> 41. PARAM�]UNT RI�HTS AND �BLI�ATI�NS. B�rrawer warrants that it has
<br /> not, and sha�l not, execute any other agreement with pr�visians contradictory of, or in opposit��n
<br /> ta, the prav�si�ns h�reof, and that, �n any event, the requ�rements of this Agreement are
<br /> paramount and controlling as t� the r�ghts and obligatians set forth and supersede any other
<br /> requirements �n conflict therewit�.
<br /> 4Z. SEVERABILITY. The xnvalidity of any clause, part, ar prov�sion af this
<br /> Agreement shall nat affect the validity of the remaining portions h�reaf.
<br /> 43. RULES �F ��NSTRU�TI�N. The �aptions and headings of the secti�ns of
<br /> this Agreement are for conven��nce on�y and shal�be disr�garded in construing th�s Agreement.
<br /> Any reference in this Agreement to ar�"Exhibit" or a"Se�tion" sha�l, unless �therw�se explic�tly
<br /> provided, be construed as referring, respectively, to an Exhibit attached to this Agreement or to a
<br /> Section of this Agreement. A11 Exhibits attached to �r referred to in this Agreem�nt are
<br /> inc�rporated by reference into thxs Agre�ment. Use �f the singu�ar in this Agreement includes
<br /> the p�ura� and use of the plural includes the singular. As used in this Agreement, the term,
<br /> "including"means "�nclud�ng, but nat ��mited to."
<br /> 44. PRESENT ASSIGNMENT. To the extent permitted by app�x�ab�e law,
<br /> Borrower irrevocab�y and unc�nditionally assigns, p�edges, mortgages and transfers to HUI] its
<br /> rights to Rents, charges, fees, carrying charges, Proj ect accounts, security deposits, and other
<br /> revenues and r�ceipts of Whatsoever s�rt that it rnay re�eive or be entitled to receiv� from the
<br /> operati�n of the Mortgaged Property, subj ect ta the assignment af Rents and ather provisions in
<br /> the Barrow�r's Secur�ty Instrument and, �f Borrawer is alsa �perator, subject to the rights of any
<br /> a�counts r�ceivab�e lender under accounts receivab�e financing that has heen approved by HUD.
<br /> Unti� a defauit �s declared under this Agreement, a revocab�e I���nse is granted to B�rrower t�
<br /> c���ect and retain such Rents, charges, fees, carry�ng charges, Proj ect accounts, security dep�sits,
<br /> and ather revenues and receipts, but upon an Event of Defau�t under this Agr�ement ar under the
<br /> Borrower's Secur�ty Instrument, such rev�cabl� license zs automatically terminated.
<br /> 45. N�TI�E.
<br /> (a) A1� notices, demands and other communicatians t"Not�ce"� under�r concerning
<br /> this Agreement shall be �n writing. A c�urtesy copy of any Notice given�y Borr�w�r or HUD
<br /> shall be sent simu�taneously ta Lender. Each Notice sha�l b� addressed ta th� intended recipi�nts
<br /> at their respective addresses set forth below, and shal� be deemed given on the earliest to occur af
<br /> (i} the date when the Natice is r�ceived by the addressee; (i�} the first or second Business I]ay
<br /> after the Notice is delivered to a recognized overnight c�urier service, with arrangements made
<br /> for payment�f charges for next or second Business Day deiivery, respective�y, or (�i�� the third
<br /> Business I]ay after the Notice is deposit�d in the United States mail with postage prepaid,
<br /> cer��fied mail, return receipt requested. As used in th�s Sectian 45, the term "Business Day"
<br /> means any day other than a Saturday or a Sunday, a federal holiday or h�liday in the state where
<br /> Pr�v�ous�ersi�ns obsolete Page 3'I af 3B form HUD-9246fi-�RCF ��G1��14}
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