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<br /> = __-- `� � . � . . ,; :•�� . -� , �= �� � , � � _
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<br /> F� �•��_��� ♦ � �- -�- � . � . ' '. - . �- � - -
<br /> - . HOMB.'REI3T� PRQPBRTY R�HRB�LITF�TI�i�i LTEN , . ���_;4
<br /> . ; . . . ' . , � . . � �.-_
<br /> - � � TAe uttdersic�ecl 'pzaperty o6rne�s, � lhexeafter, the BBRROWEIZB),. in /� . ---__.
<br /> �. � ��cvn��deration of the �r�ceipt of .NINE liUNDRED N�NETY 2�INE �i�ID T8/ittQ , �-� _--�---
<br /> -- � , � Dollar� �t8l99.T81 as a �e€erred �a�rm'snt� loan fgo� t�e CiTY �F GRAND �Q -
<br /> � ISI,2lND the�ea£ter, the LENDBRy for� the xehabilitatfon, pxeservation
<br /> � ` an� en��icement of primazily =ental sresidential zeal . , -�_
<br /> _— - - g�ropezty con���nia►g twenty.one uaits foa re�t or �t=-
<br /> -- ----= gease tr3 �n�irnt�s, whfch is comus�nly known as 324 West Koer►ia_. �--
<br />- - � and legally descrfbec7 •as s - , _ ___
<br /> � � Y� t� < � �
<br /> _------=_---�_ ._ • . , 3�;gc�s � �nd 6, �Hiack 98, ltailroad addition to.ti��. ,
<br /> �...�;���: . . .�Y�it� o£ GtanB 3�sland ; . �� -
<br /> - --� . ' . . ' . • � � � , '. - - ---
<br /> -----�- - -
<br /> --.-�-i+�[fl1YYt{ai.:l�:•-�A•� _.'___'______.__'..__.__'__._._._____ .._.._'___._...__..._._..__"______.a.'._'.____._ '_.___. ... . -. _-
<br /> .�.t� � ` '( �..
<br /> ^�_x rtf,- . .. .
<br /> - ���ez��;pa��er, �he�PROJECT)„ ...- ,�::
<br /> ��:
<br /> - — . "legat,�,y�� equitable title to yrhich is held by the BORltOWEkt, hereby � �,�-
<br /> — -- agre��:<.r��a; consent to the cr�ation ansl �mpositi�� of a lien upon the
<br /> P.R03$�';�or �he ,benefit of the LENDER; subl�ect to the following term�� ,. �'''
<br /> , _ � �,,and conditior�� `� '. _ � .. - - - , .t.. ��:
<br /> ., . .. . � ` �' �..�_.�
<br /> , 11 .Such lieic�.��a21 be i�n the f•a11 amoun� of ttie deferzed gagctQa� . ' �, , ��_'
<br /> �• ��_
<br /> _ loan given b�r•,.`•`��ie LE�It�ER to. the BORFtOWER. . . . :, , ' y�°-
<br /> .� I 't� '., ,. : • ' , . ' . ;:. . ;rS i:
<br /> , :� {.a'��'� . �-�::•2) Such liet� .�►�a11 b�.��in effect for ten yea�s..:�bm the compb��3oa� ca�'' ' �:;� �+ �',:
<br /> � - :��_ `�� �;�the pro�ect as'evider���l by� �he date o� the C��ificat� of Fii��l � ;�� ��:
<br /> _ ,.x�,.. ��f".: Inspection. - �� � � --
<br /> ..-�., �r�� . � . �` . � -
<br /> �;�°; 3) The B�RROW�SR ag=ees: to� keep dwel2.ing urt�i�.�in tt�;:`�RQJECT .in . -
<br /> � '�'��i:�`.goed condi'tion an� repair, fully tenab2e and �not to x��ttove os . ��`�
<br /> -��' �� demolish any d�relling unit thereon: to comp�e�e or re�to=e p=omptly � . ���.�;�:�
<br /> anc3 in goad an8 wozkmanlike manner any ��elling unit �D�ich may be ,
<br /> . ��const=uctec�, damaged or destroyea thereon and to pay when due .all
<br /> • claims for labos pe�formed and materials furnished to the PROJEeT: to
<br />- •��� �. c6mply with a21 laws affectinq said PROJECT ot requiring any � " � _°
<br /> �:�.:%,:. _
<br /> ��:��':;r��--� alteratlnns or ia►ptovements to be ma8e thereon; not to commit or . ,�`<_
<br /> - `;..,:� ;.:: r -.
<br /> _ ,..... . , permit �aste thereo£; not to commlt, suffer ox pe.rmit anY act ther.eon , �.;�,�.°.
<br /> ,,, ' ; in vidPc�tian o� la�. r� ,
<br /> , ., � ��_ �a�,
<br /> �;,:_�`:. ;. : • �,.:,.,. :,�._,
<br /> _ - _ _ ,:,� ,,, 4.) The` HOt�•�R ag=ees: �o provide, maintain and� delives tb�;,h�e �t�
<br /> �'� ." �LENDER. evide�� of fise and extended coverage insur.ance satisfactosy �', r .
<br /> �`�`µ{�" '.�-''`�'' to �h��LENDER'?it� the order and amount sufficienx tn permit =epair or ��•'� ;� �
<br /> ( � . I �,� 1�;;,., . . , ,...:
<br /> ; �:�. �.� . repla�m�n� pursuant to paragra.ph 3, above, of the balance ,
<br /> �+ �. out���,iifling of this Li�n. . � �
<br /> - �� ; �,,,. . . � • , .: :.
<br /> '��7_J_,t;. . . . �
<br /> ��"% ., 5) The BORRO��. �grees to pa�► a1.1 Caxes, assessmentis, uti2��:5�s and • � "' ':
<br /> � o�he�c expenses .of the BROJEC`P when �ue and �rithout delinquen�y;�,anc] � � � � �
<br /> _ � shall not pe=mit any.,�iens to be� imposed on the. PROJfiCT by �+��t�on o�:'
<br /> - � , any delinguency. ,: . � ,� . ��+�. ' • r
<br /> _ ,�' , . �
<br /> 6) THE SORRmt�t ne�Gees nbt to convest tDe d�elling units ir� �he � r�'
<br /> �. AROJECT ta cci��omia��um o�nezship or .to any �orm of coogerative � ,
<br /> s ble to
<br /> lo�ter income households
<br /> n �� ts ase not �tf.o aa
<br /> o�ners�ip wherei t r�
<br /> '• tas these terms °affcrdable" and "IauPet iacome households" may be
<br /> _ -- =_ � de�ined by the LENDER). � �
<br />__ ?) The BORROAER agrees: not to discrininate against or c]eny ,
<br /> � occupancy.�o any tenant oa �azospective tenant �by reason of �t�eir � ,
<br /> � rec�ipt ofa as eligibilitg for, housing assistance, under any ' �
<br /> , Federal, Staice o= locai ho�ing assistance program; a�nd not to
<br /> � discriminate against osr aeny occupancy to any tenant or prospective ,
<br /> � � ' tenant by, zeason tha� the tenant has a m.inos cbild or chi�dren who � .,
<br /> . �'Y , _ . . . ' .
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