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RE.Rwo;Rm12 00008000 200006301
<br />]tmnlgaped propclto, suhjcrt, howcccr. b, anv a •:iynmc11l ,,I (rids in (h) , Ilcf:tull" n1c :uls a dchndt cicchicd Ili, (lie 5ccrchua
<br />III,,- insoted pmttg:ogc lcfcroed In hrrcin. IInlil :t dcfa1111 is dcrlmcl violation of Ihis Agrc•c]ttcitt is nol corrected In his still, r....! It
<br />miller Ihis AgrccownI. howccer. prtmis•.ion i•: yi:murd I„ t tv, itrr I„ trilhin life lime :dlmvcd by this Ag)cc]tlenl or such fult1l + ilia
<br />collect and tclain mill(':-Ihc 1)111%isiolts of Ihis Aylremcut such n me. ;1s nlay he allowed 13y life Sec•rchuy after tvrilten notice;
<br />profits, inco11le, :]till charges, 13111 111,1,11 dcfl11oll this pclnliv. ion i•;
<br />lenninatcd as In :ill tents doe or eollcoed Ihcicallct, li 1 "Sccti,,n" refers Ul a Section of the Notion ❑) Iluusing Act.
<br />as :nllcoded.
<br />�. As used in this Al ❑cc:mcnl Ib( Ict m:
<br />la) `NIr,Ilpayt" incl11dcs "Mcd of It11•,1'. 'r 11:11111 Ahnl }+:i}•c•'.
<br />"Security hednonlenr :old nil "flier •rrmits fill Illc• nrne
<br />idcnlilicd hctcnn. ;nod end +tscd I,n in.nt :ntrc n brll I +� 1131
<br />Sccrctarr:
<br />(b) "Moog :lgcc" refers to Ihc holder ill Ihc nfullfayc idcafificd
<br />lIC101, its sac•ccssors and :Is6plls:
<br />(c) "M11crs" 10cts to Ihc I'mm'lls na11lc•d in Ihc lit•.I I,atayt:Il,h
<br />hctcnf and ticsivnatcd as M%livp.. Ihrir snrccc ut licit•; :111,1
<br />:Issig]ts:
<br />Id) "NIottgavcd I'll lluliv" inrlmlcs :ill 1m l•ct1s. rral. l'u1s.1nal ,rr
<br />mixed, c•ovelcd 13y Ilic it nn•tlyayc•; srrntiny. Ihc m•Ic
<br />cndorscd fill itn;utancc w hcl:l In Ihc Sr( tctrtc:
<br />ft-.) ' I'ro,jccl•' includes Ihc mortgaged and all its olhcr
<br />assets of ahaleoctcr mafut(' or Mwif•snelc•r sittmtc•. n•c11 in „:
<br />owned 13v Ihc• husinrss c.,ndoc:cd „n sail unnlvaved I,rrgnof�.
<br />which husincss is Inot idiny h,-ll'•irlf, :old 011t'l 2rtk ific'; a, :It(.
<br />iucidc111:11 IhclOw
<br />(f) "Sutl,Ius trash" nicmts ti11v cash oc•mai11i11y Awl:
<br />(1) flit- pavnlcat of:
<br />(i) All sums due c,r cmucnlh rr.giihvd 1, 13c 1,;10 under Ihc:
<br />tcr]tIs of nll ]tnntvagc ur nofc i11slncd m held In IIm:
<br />Secrclaty:
<br />(ii) All mimotiv; w(ItHird In by deli +silc,l in fife tcst•.nc
<br />fund for rcplacculefils;
<br />(iii) All Ailipatirms r,f lilt- I,rniccl ofhct fh:m Ibc insured
<br />mnitgal!r Inlless f11nds fill Inacmcnt :1117 eel ❑side if
<br />deferment of p:rinlcnt has hall :ggionvcd ht Ihc: Scc-
<br />rctars
<br />(1) the scgirgatioll of:
<br />(i) An Iultoumt egtml.lo Ihc ;rgvrcvatc of all special funds
<br />required to Ire nntitttnined by the pn,jlet; m[d
<br />(ii) All tctimit serulily deposits held.
<br />(g) 'Vishillution" ulcmis any wi(lldntn;ol rrt taking of c•tisb or fnry
<br />asscls of the pfnicc•l. inc•lu,li]ty Ihc scglcgali „n of cash nr asserts
<br />for snhserp!crtl %:01vit:mO within lilt, Iimil:-tinne of 1'alnPtaI'll
<br />till) hctcnf, told excluding 1tivn1cnl lot a :nnnahlr cxpcnsci
<br />incidc11t In file operation ruin Illai life na11cc of file project.
<br />Rltplfices �) IA•24fG which may be usotl until �upltly cxh�]tsltld
<br />Ij t "I )ispla('cd I,ctsnns or honilics” shall nn:an it fantilq of families.
<br />n a persml di•+l,laccd Imnl :ill mhan o lie"' l tirc.ot. or as the
<br />1Csoll of frmcillownl action. ur as a lesult of a ultyor disaster as
<br />determined lfy life I'Icsidcnt putsu:ull to life f)is:tslcr Relief Act
<br />of 19711.
<br />(It-) "Flilmly person" Incluts arty person, luarried or single, who is
<br />slxh, two vealti of Ilgc of over.
<br />11. 'I his illshvnlcnt shall bind, mid the hcncfils shall inure hl, the
<br />resperlive Owflcrs, tbcit hens, 1(:gnl rc.Incscntllllvm executors,
<br />adnfinistraloos. successors in office or iuteic;t_ told assigns, told to tbc.
<br />Srctctary nod WS SucccSSots Sit loaf! os Ihc Contra('( of moligagc
<br />insurnocc continues in cffccL told ('luring such furtbe time as the
<br />Sccictary shall he the owner, bolder, or rciosulcr of fbc mmigttgr., or
<br />obliptcd to !Cinsulc t1m: nnntgm,c.
<br />I
<br />15. (hvncrs wart :nd that they have nol, ;old will not, execute any other
<br />agrecntc ill will) plovisions enlltradiclory of, or in opposition hl, the
<br />I,rovisilnrs hereof, :old that, ill tury event, the rcquift:utenls of this
<br />Aylecnlcnl :tic 1,111 :onnunt told.c•onholling its ht file rights and
<br />ohlip:11imis set forth and superscdc ally rlttler Icgtlrrellterlls Ill corlfllct
<br />thcictvilll.
<br />16. 'Ihc illi nlidily of any clause. plot or provisions of this Agreement
<br />shall uol affect the vnlldity or [lie imimiui11g poltious thereof.
<br />17' Il'e lnllowing Owners: RE!cent , L. L. C. a Nebraska
<br />Limited Liability Co., General Partner
<br />of French Village Limited Partnership;
<br />or it's member manager James G. Rector
<br />or it's other member Robert R. Rector;
<br />or any limited partners of the French
<br />Village Limited Partnership.
<br />Do not assume personal liability for
<br />payments. du.e under the note and mo.rt- .
<br />gage, or for the nnyments to the re-
<br />serve for replacements, or for matters
<br />not under their control, provided that
<br />said Owners shall remain liable under
<br />this Agreement only with respect to the
<br />matters hereinafter stated; namely:
<br />(a) for funds of property of the pro-
<br />ject coming into their hands which,
<br />by the provisions hereof, they are
<br />not entitled to retain; and
<br />(b) for their own acts and deeds or
<br />acts and deeds of others which -they
<br />have authorized in violation of the
<br />provisions hereof.
<br />To be executed with formalities for
<br />Fagotiolti recording a deed to real estate.)
<br />
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