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<br /> Q Lt8NTS1. PAOPEATY RB�L�'�S'PIONE L�IEN . -
<br /> � � . _ : :: �;�;-;;, ,;./ ` _ ==
<br />- The un�egsigne8 gtog���y .�t�►ness; �hereaftes, the HO1tROHt�?:F}. � ���' �C,�:- _
<br /> ia ccnsi8��atiqai�of ttd� .��caipt ,Qf TiaeAty. �Tt�ousand efgf���ine � �; `:'
<br /> � r.�° < � � and 50�til��.Do311az� t�2a��$9.50? .as �.d��cze� F�3t�ent ���' �:�:, _ _ _
<br /> -'_: t.- .:. fao� th+e�G�'�Y�-.48 GREND IBLat�ID t he���i-�e��;tb��:��der) far �the �����- � �
<br /> � �;;R �_- - :� .� _: sehabiii�a�;lari, gresesvation an����ihance�a�nt �o��:�rimasily . . . �==-
<br /> �-�`�s
<br /> ;�,=;a�.�, :..�,�: rental ses�8e�ntial seal propezty conta�l����g etg�t units fos
<br /> �Y'�� • sent or l�ase to tenants, rhic� is comma�ly knov�a� a8 ,,�16- � � . _ —
<br /> �` ';`�'r� � �ifl 1/� p^e�t�enia an8 2�3-�,,t a t i2 geiatA Walnut and
<br /> :��s�. -�"� , leg�ii� deecz ibed as: .
<br /> _4. ,
<br /> SR�'.. r a �'� � _
<br /> � ` Lots 5 & 6, 81ock 98, Railsoad �dditio� to the � _
<br /> ' , City of f3ran8 isiand
<br /> .. ' � the�einaftes, tfie BROJECT) � �� -__
<br /> legal t1s equitable title to vhic�t� is held by �h�:;80RROW8R, ____=---
<br /> hereb�� agree an� �onsent to the�'±�r�aticu and�fmposition of a =__-_-
<br /> li�A u�on th� PROJECT fos the bea�fit o� the LBNDER, subiect =
<br />- ' to the £ailq�inq tezms and coa8itions: ._ . �_ '---
<br /> 1) Suah Iien shall be in the full amount of the 8efesre� ��`=`�-_
<br /> �� payza�n� loaa gtven by the LENOER to tt�e HORROWER. � '"°`•h=•°=--�—
<br /> `��
<br /> � 2) The �ORItOWER agrees that any defaul� o» a superios lien �'' �?
<br /> . ehali be .a 8efault on this lien an8 shall rendes the balance . � -__
<br /> hereundq� at once due aad payable. � � �:='-
<br /> ' �) Tho HORROWER agsees: to keep d�relling unita� in the ,.�;,_-t.;�
<br /> ; � PROJLCT i�n good con8ltion and repais, fully tere�ble an� not �:���'-;r=�ti:--
<br /> :, �- ' to r�mnve oz demolish an�+ ci�oelling unit tbezeons to complete _;_... �.�.�:`,s_:_::-:
<br /> os sea�ore promptly and in qood and �oskmanlike manneY any .. , �»��;��=
<br /> 8velling unit �bieh may be constsucted, 8amage8 or 8estxoye8 �� 't;��•• � �� "
<br /> _ thereon and to pa mhen due all claims for labor performed � ' �`�"�`�
<br /> . y �;. � �„t.,.,.,.
<br /> � and ma�e�ials fusnishe�9 to the PROJECT: to comply with a21 :,.�t.�; . � . :.
<br /> lavs af¢acting said BROJECT or reguiring aay alteratians or � �'' � . �
<br /> ' lmprovem�nte to be ma8e thexeon; not to commit oz pesmit :,� ''.•-;:•,�', •'
<br /> ` . ,,.;_.. . �
<br /> ' ` • vaote thQSeoEj not to commit, suffer or pesmit any �ct ``'�"+;���-_:��{ : � :�•
<br /> ��. lheseon it► violation of la�r. �
<br /> • .� . .`,. ,
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<br /> ' ; � ' 41 Thu BORROWER agsees: !o provide, maintain and deliver to ' � .,
<br /> the LBNDLtt evi8ence of fise ancl extended covesage insuzance • •
<br /> ;. BotlataaCory to the LENDER in the or8es an8 amount sufficient � . . • ,
<br /> to pe�mlt repair os seplacement pussuar�t to pasagzaph 3, ' ' . �
<br /> above, of the balanee outstanding of this lien.
<br /> ��� , � 51 Tt1c3 BGRROWER agrees to pay all taxes, assessnents,
<br /> ,,, , utilities and othes exee�ses of the PROJECT When due an8 �
<br /> � . �rithout del�nquer►cy an8 shail not pesmit any liens to be ..
<br /> fmpoeed on the BROJECT by reason of any 8elinquency.
<br /> � � 61 THE BORROWER egrees not to convest tAe drreliing units in � � �
<br /> ' !►. � tho PROJBCT to conaominium avnesshSp or to any form of _
<br /> _ � ;� � , eoopetative ovnership mhorein rents ase no� affozdable to
<br /> - � . � lover in�o�ae houaeholaa �ea lheae terms „affordable" and �
<br /> � � "lvves l�come houeehol8s" ma� be 8efine8 by the LENDER). � .
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