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201606435
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Last modified
7/24/2017 3:45:16 PM
Creation date
9/29/2016 9:38:39 AM
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DEEDS
Inst Number
201606435
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2� 1 ���435 <br /> permitted by Lender and HUI], Borrower has not er�tered into, and vvill n�t enter into, r�or has it <br /> permitted n�r wil� it permit, �perator or Master T�na�t or any management agent, as appricab��, <br /> ta enter into any agreement with any party ot�er than Lender in cor�ju.r�ct�an�with the present <br /> Loan transaction that al�aws far the perfect��n��f a s��urity interest in any portion af the U�� <br /> Co��ateral. Borr�.wer wil�pr�mptly natify Lender af a�y change in its business or principal <br /> �ocation, name, ��ot�er organizationa� change that vvould requ�re a f��ng under the UCC to <br /> cont�nu�perfection of L�nder's interest, and h�r�by auth�rizes Le�der t� fi��, and wi�l a�s�s� <br /> Lender in filing, any f�rms necessary t� continue the effecti�eness �f existin� finar�cxng <br /> statements or for perfection�f Lender's security inter�st. If an Event of I]efau�t has occurred <br /> and is cantinuing, Lender sha11 have the remedies of a secur�d party under the U��, in ac�dition <br /> to a�� r�medies pr�vxded by th�s Se�urity Instrument or existing unde�app��cable 1aW. In <br /> exerc�s�ng any remedies, L�nder may exercise its remedies against the U�� �ollateral separate�y <br /> or together, and in any order, with�ut�n any way affecting the avai�ability of Lender's other <br /> remedies. This Security Instrument constitutes a fixture filing f�nanc�ng stat�ment w�th respect <br /> to any part of th�Mortgaged Pr�perty which is �r may bec�me a Fixture and whi�h shall be filed <br /> in the 1aca1 r�a� estate records. <br /> �b� In add�tion, to the extent the UC� �ollateral may exclude any af the Mor�gaged <br /> Property, Borrow�r h�r�by grants t� Lender a security inter�st�n any and ai1 of the present or <br /> hereafter acquired Mortgaged Proper�y, and a�1 products, cash praceeds and r�on-cash proceeds <br /> ther�of. <br /> �c} The Borrower acknow�edges and agrees that, in app�ying the law�f any <br /> jurisdiction that at any time enacts a�l or substantialiy all af the un�form provisions of Revised <br /> Arti�le 9 �f the U�� (1999 �ffic�a� Text, as amended}, the definiti�n of Mortgaged Property and <br /> the above co�Iatera� descr�ption co�ers a�� assets of Borrovver. <br /> 3. ��NTR�L �F DEP�SIT AC��UNTS. As part of the�ansideration for the <br /> Indebtedness, Borrower has executed, or has caused �peratar to �xecute, on� ar more d�posit <br /> accou.nt control agreements or similar agreements in a form approved by Lender and HUI�, <br /> pursuant to wh�ch Borrower or �perator, as applicab�e, acknow�edg�s Lender as a secured party, <br /> and grants to Lender c�ntr�l �as defin�d in Section g-1�4 of th�U�C} of ane or mare depasit <br /> acc�unts af the Praj ect and all cash, moneys and other property on dep�sit from time to time <br /> th�rein. Lender shal� exercise such controi �n accordance with such deposit accaunt c�ntrol <br /> agreements or similar agreements, and Barrawer shall continue to execute or cause to be <br /> executed such dep�sit ac�ount contro� agreements or similar agreements v�rith r�s��ct to the <br /> Praj ect's accounts as requ�red by Lend�r and HUD. <br /> 4. ASSI�NMENT �F LEASES� LEASES AFFECTIN� THE M�RTGAGED <br /> PR�PERTY. <br /> �a� As�art of the consideration for the Indebtedness, Borrower al�so�utely and <br /> uncondit�onally assigns and transfers to Lend�r a�l of B�rrower's r�ghts, title and interest in, to <br /> and under the Leases, includ�ng Borrower's r�ght, pow�r and authority to mo�if�the terms of <br /> any su�h Lease, or�xtend or terrninate any such Lease. It �s th� intentian of B�rrower to <br /> estab�ish a present, absolute and �rrevocable transfer and ass�gnm�nt to Lend�r of all of <br /> Previous versions absolete Page '14 farm HUD-94DD0-�RCF �OG12�14} <br />
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