r-:� ,; _ . �. '�. . . . � � �
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<br /> � ---- �_� � 6) 7�N� HOAROW�RS ags�es not to convast the dvelling units !a
<br /> — thw PROJ=CT to coedowiniuw oMn�sship or to any �os■ o!
<br /> coop�sativ� ovo�rship Mb�r�in r�nts as� not alfordwbl� to
<br /> ].ov�s i�ca�� hous�holda (s• th�a� tssas "al�ordabl�" and
<br />�s, "lov�r lacow� hous�hoids" aay b� d�linsd by th� LP�IDZR1.
<br /> — _— 7) The SqRRONBRB ag=eass not to discsiainat� againat os deny
<br /> ����--E— --�— -- occupancy to any t�nant os psospactfva t�nant by raasoo o!
<br /> th�elr ssc�ipt of, or eliqfblllty far, howrsing aa�siatance,
<br /> - und�r an�y leGeral, Sta�t� or local housinq aaaiatance proqra�;
<br />�,�:4. � .�� not ko d�scsiw��nata a�qainst or deny occupancy to a�nX
<br /> _ t��nt Qr prospectYv� t�n�nt by re�a�on that tha t�nant ha�s a
<br />__,..i�:_ --- �s3�o= ch3Pd csx alsil�ren rho tril! be see3ding aitls them, ,
<br /> �� �"� u�i�ss th� PROJ�CT b� ont saserved for elderly kena�ka.
<br /> ��. �
<br /> �.� °� ,� � � 8) The term of �his lien shail be until the balance due !s
<br /> 4'' ° '�'�.t:�i'�..:� paid in lull os for a period ending on the first day of the
<br /> : ��',_� _:,.T�,-� �onth, lirat occurrinq ten (10) yeara aftez the cowpletfon of
<br /> ;�.�,�':��, �-�� the PROJECT zehabilitatio�, preservation, or enha�c�ewent
<br />_ - �'�'`� activitiea £ina�ced in vhoie or !n paxt by �he de�err�d
<br /> F " r pay�ent loa� evidenced by thia 11eo. Uniess prepaid os
<br /> .�fi��.
<br /> � ;,;�����!�!���� . forecloaed, this lien shall be satiaf ied and be released by
<br /> � - - :� `�- °" the G6�NDER on the f irat day of June, 2003. The anniveraary of
<br /> -��_,� �� thia licn shall be the la� day of June in each year following
<br /> -� — �;.��, ..� , . the ao�pletion of activi�ies fft►�ari� by t�a def�zse3 p�ymsn�
<br /> 'f��'''� �•�•� loan avi�enced by thia lien.
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<br /> 9) Unleas accelerated pu=suant to p�ragraph 10, at each
<br /> �::,i;:�> � ,�°;�;:s>>:���'.::�����° anniversary date the balance due hereunder shall be reduced
<br /> "���5�� �w�'"s`' ��"���������? by tea percen� 110t� of the otiqinal amoant of �he doEerred
<br /> ,:�: � r' .
<br />",r�?�!��� :;,�('��,r�'�r�,'''.i�'�~�; a ent loan.
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<br /> ��:.' .�;�•�.���� ' 10) During the term of this lien �be BORROWERS shali make no
<br />—_- •:' � `�;�"� '���'�;�•,,�s�`3 payments of pr incipal or interest; PROVIDEfl NOWEV�R, that if
<br /> __�;,;;;;i' '��;i'i.ja.;^,;'°;:•�;;��,�r,V�, the BORROWER8 shall be in default of any of the terms or =
<br />_1.� � �`r'j�t�;�:y�,�;Fi.`:,'y conditions of this lien, then the unpaid and remaining _
<br /> ;, . ���<,���,�;,�µ. , balance shall becomQ iromedia�ely due and payable upon detoand _
<br /> �� :M��;,•;-� ;;;�,,.,g���, by the L�NDER. "-
<br /> �'b � ..4'^r'�..•:"'L,•l;Fyy},�N)�c —
<br /> ' � ,:} .•4_ �1 , 11) The deferred payment loen evidenced b�+ this lien mey be -
<br /> � assigned and/or assuaaedj PROVIDED, that any and all terms and -
<br /> ,,��� conaitiot►g shall remain in full force and effect foz any � -
<br /> '�`�;�.�, _
<br />-� � >���-^, ° assignee pt saccessor to the HORROWERB and such assignee or �
<br />;;"�'�`�� ":'��''' � � 4..a successoz ahall assume ali fluties and obligations of the °
<br /> `�' �'`'' � �� �' ��'� SOR[dQWBR3 as descrimed hezein. -
<br /> �«��:`,� i����� ' ° .��,.,. -
<br /> ` �.��y�K'� 12� Any suboxdination of this lien to additional liens or
<br /> �,.-.. �y'y*'�'.�.'`L''"n ' —
<br /> ,�'�1���•. ���`��^' � •�� encumbcances of the assignee or successor to the BORROWERS —
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<br /> �4,. �fsit l�il'��,,SS�n'..'Ic�
<br /> f „a;,,.,+7`�'+;�;,-,.�=.";y�• shall be dnly upon 'Che vritten consent ot the LENDER. Such
<br /> ,;, �� �;�;���t��.�,+.,�}���,•� additional 1 ie�s and encumbrances shall extend to and include ;
<br /> 7.i . {:�'y'f. .y1.aW-•�. 4'
<br />_ ;. �,.,:t..�`t�"',,,.,..�:,' any contract fax deed, land contract, or other agseement �
<br /> �� P"�''��` r betvee� the !BORROWERS and 4�is successor ot assignee. Such �-
<br /> , r•iS,,�� .
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<br /> i� �� ` �},����,:;�=;•"� .. conaent to subordinate shall not be unreasonably withheld so =
<br />-:,,,.,�.� ,. ��,3�`�',.�,. �". � . ,, long as LENDER has the assurance, reasonable to the LENDER, -
<br /> :�� �,;ti��' '`. • ; � r � that th� provisions of this lien remain enforceable and are
<br /> .;'U���, r�;,����}1;�yc�;�pi� adequately aecured by the pro�ect . =-
<br />- . . �� ••},,t,i;i,;�R�,1.:.a�,,.,
<br /> .._ �..�K ��k�t;`''li���'.,;<< ;a:� �:.
<br /> 13? To assure �ncl protect its riqhts in this lien and the
<br /> � �i,S:.�: � �_.
<br /> —.-t -c �� t'RVJGL.�� I�.IiC u�pvEc�a �iiaia ,iovc i.i'ysi� 'v� G14VGJJ �.u� :w�..�.:�:vu
<br />.::-y.:_,`;—� _�-i"�'���FY �-�.
<br /> � :��i�';� r , of the PROJECT at reasonable times and with reasonable notice
<br />__r:L�t� ;(,+�f��Y�t"n.� to the BOREtOWER3. �
<br /> - '� rySrs4r `
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<br /> :� ��,tZy .,.�°.�'. :. �9 ) Any forbeaxance by the LENDER with res$ect to any of the 1
<br /> �, .�. �,.,� tezms and conditions of this lien in no vay constitutes a ,
<br /> �;,. ; �,�.� :,:�' .,•.:''. wa ivez of any of the LENDER'S r ights oY pr ivi leges granted
<br /> � ,
<br /> , 'f� l§��.°�:;_.f-.. hexeunder. �
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