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<br /> � . . - ' -� � . � ��`iti aa��a
<br /> �: _-_,- :.::,- ._ - or athers co such cenant ugon reques�in addi6on to the. mo:tgage. , - ' ����'°�=�`=�r��
<br /> �- �-- -- -. • fas�ities and senrice�inct�d�d i�n the a1Proved Pmf e�t id) APPjY��Y�urt.St�ate orF�eral.forsp�afc D�,�, � �"` �� - ---
<br /> "° �. ' ', . � i . Rental Assistaiace Convaci. ance af tbis Agteemtnt,�for an fi�mction ag�lt � � --�
<br /> =� .:�_`'._�. . . � � (�,Nothingcantainedinti�isAgreementsF�allbeccnistruedto vIotation of this A�eemen�for the appointment of-.. ' ���_-_-
<br /> �. � , -: . -,:. � relievetneMo�gagorofaayobl3gadons�mdertIteProiect reoGiver to teYe over and operRU the�topetty in tsccoY. �. ----
<br />��. , ,�:.;. :-..- - Rcau[alAssistanceConasci. , dancawiththc[�nnsofthisAgtetmen�.or,faranChother � _-
<br /> -� . , ' 13. Mortgagor will comgly aid�the provkians of any Fedaal, relief as may 6C appropriaze.since tha iqjuey tm RUD .
<br />-;= •�. � � • Stazeortocaliawpmlu'6itingdisamuna�oninhansinSantlie �8 fr9m a default�mder any,of the tezms of this �
<br />� � . , � . ds of race,color,creed,a8�ses.bandicaP,familial �entaoutQbeiaep�a62eastdthea�rtmmtof'da�a-
<br />�: ' � �. aga would be di�cultto ascertain. • .
<br />__ , , stan�sornatiomlorigin,incladingTitle.YLoftheCivilRigtits
<br />__;� � � - � , � , Act of 1964 (42U.S.C.2000d-1),the Fair Housing Act (e) Require the Mortgagor to uansfer all ofits rigRt a�2eated.
<br /> - , > , , {42U.S.C.3601), Seccion 504 of tLe Rehabitit�ion Acs of interestinthepmjectaadwallprojcetasseutoagrivate
<br /> � �. �• . � 1973{29U.S.C.T94), Age Discriminaaan Act af nanpmfit coiporadon designated by HUD and.for this .
<br /> ' �� 1475(A2U.S.C.SI01)ExecutiveOrdeisiI053 andli?A6,Section pcupose the Mortgagor hereby eonsdtutes and appoints,
<br />_:�: ..< ._ : 3oftheHousingandIIrbaaDevetopa�tActof1968.andthe . ' HilDitsavaa�dlawfulauo�uey-m-facttvrithfiillpower .
<br /> _F='----;--�,-`:- .- - - --affirmat€vefaithousingmazf«dagaequueaaeats-az�24CFR-�-� --- - . .. oY-subsdt�itunint�eprccnists,tot�sf��htprojectand
<br /> �. , part 20a,snbpan M. . all Pmject assets t�o ths prIvau nonpmfit casga�atFon
<br /> • . ,: ' . . I4. Noli6gauonseetdngthe�covesyofasuminexcessof�5.�0 ���byAUD.iftheMor�gagartaitsor�efnscs.to
<br /> _ . . nar any aaion for speci&c.perfoAn�ce vr othes equitable maYe such a tr�sfer as reqi�c�ed by FIU'D
<br /> - .- - � reGefshallbeinsciacednorshallanyclain►foraswninexcess I6:(a) Mtmgagar has executed tAe Ptoject Rea�ta!Assistaztet .
<br /> -� . - � ofS5U0UbesetQe3arcompro�isedbytheMortP,aBarmiless Contract. 1he tenns of the Project Rental Assistance ��., �.
<br /> . � . , prior waitten consent thereto kas been obtained from HUD. Conuact;when executed,shall be incosgo�ated by refer• s�,;�
<br /> - . � Suchcsu,senc may 6e subject to s�terms aad condidans as ence into tt�is Regalawry Agreemen� . . - —
<br /> : - HUDmayprescdbe. . (b) AvioltuIanoftheProjectRentalAssistanceContractmay �,._-
<br /> ''� � I5. Upon a violadon of any of the above pmvislons of this Ue construed w constitute a default hereunder in the sole 9"� _
<br />=v; � . . ,,�fi�_;
<br />� � ` � Agreem�t by Maztgagor.HiJD aay gi�e ariuen notice. discc�on of HETI� ��;�.,�
<br />"* � ' '. '�f, to Mortgagor,by regiscet2d ot certttied ma7,ad• - -=
<br /> - - :.. -. -.--�--�-- dressed to the add�ss a�ated i�dus Agreanent,or s�ch other (c) In the event said Pcoject Renml Assistance Contract .�
<br /> � � � addnssasmaysub�ently.nponappropriatewrtttennotice eapicesosum�inates6efore�.�eapirationortenninadan: " �`�
<br /> �hereof to HUA,be cesignated by the MbrtgaSor as iis tegal of this Agreemen�the provisio#�s of this paragia�h an� -. , :;~.�_
<br />= � � ' 6�ess address. If such violarion is not corre�ted to the any other reference to said Contract,and co assIsted imits ��.�: � ;=�_
<br />_ . � �. satisfaction of H[TD within 30 days after the date such nodce ���� herein shall be self-canselling�:d shal!no ,: °���
<br />; � � is mailed or within such fiuther time as HUD de[ennines is longer be effecdve as of che date of the e�piration or �� �_
<br />- � � necessarywcorrect�ieviolatlon.wIthontfiu�hexaoticeHUD tarninauonoftheProjectRentalNssistanceCon�act. �.-,-°�
<br /> -- . . � .. . ` may de�lare a Default�mder this Agreen�ent e�eaive on @►e 17. As used in d,is Agreement th�term: •' '_
<br /> �.�1'
<br /> =� ' dateof$achdeclaradonofd$fan1tan�suchdefanitHUDm�y: . =�m-,�--
<br />_��::� � _ . -- � ,. (a) "DefauI�' mean,a dafanit declared by HbTD ahen a ��T:;.i,_
<br /> °�j � (a) Takepo�essionofthepmjecs.6ti�tganYa����Y . vio1ationofttwAgreemea�tisrtotconectedmitssat�sf�c- :�'"'��:.��•=_-
<br /> =_.� ..�;::.,,':.-
<br /> �;� � . � to enforce any rights of the Mortgagosgroa✓Sng outof the tion within the time allowed by tt�s Agc�ement or sueh � �'`:�_;:.,w�_:
<br /> '� . project operation,and opeiaie the Drnject in eccordance furthes time as may be allowed by HUD affer aritten ° �. _:���,:.�-�-=
<br />����. wi�h the cemis of this Agreement wlp'l such tune as II[JD nodce; � �'�_
<br /> -°` _...... inirsdiscreaondeterminesthat�eMon orisa m _ y,�� .:;�1�
<br /> Sa8 S��
<br />_�a . � � . . � � a posidon to operate the proir�t in aceordance with the (b) "Distribution"rneans any withdrawal ortalang of c�sh or � :`••r'�
<br />- ceims of�his Agreement and incompliance with the re- other assets of the pmject other than for payment af � ,
<br /> r ; . �.
<br />— . • �• � quirementsofU►eNoteanQMongage.orrequirePowerof reasonabte expenses incideni co its wnsuuction,opera � � 't�i�f:
<br />- don and maintenance; � ' '
<br /> - : ... : Auamey from Mortgagor w effecaiaze uansfer of the - � :: ,�;
<br /> �� � �`' . . Droject to aIitJDapprovedr�.unp�+ofit corpolatFon �. „ : � ., .
<br /> �- # (c) Mangage includes `Deed of Tiust",'�Qiauel Mort- � � +"._:
<br />�r. ' � (b) ColIect all rents and chargas in cam�ectian with the �aBe"Declaration of Covenants"and any other sec�uity �. � ;�
<br />-� - ' operadonofthep�jectaaduses¢chcollectionstopaytAe fartReNot�identifiedheiein; . . , ��
<br />-� : _ Martgagor'sobligationstmderthisAg[�eementandnnder �d) "MortgagedPcaperty"includesDroPec►Y,real,ye+sonal. "..,i�
<br /> � • �fie Noce and Mortgage,and the necessary expenses of ; ��
<br /> - ....- h ormixed,covered6ythemortgageormortgagessecuring ,, < _
<br />_ . � , P�8��DroP�Y.��A'���e P�3�- the note held[�y HUD; � • „
<br /> �.=� �r (c) Declare the whote ofsald inde6tedness immediately due .. ,. � � . . ����
<br />=;�• % � - � � and payable and then proceed with t�e foreclosure of the �e) Mortgagee refers to the holder of the mortgage identi• � ; r- �,
<br />__}��. � ;� , ., fied herein.i�successors and assigns; _ �.
<br />-;.,. �� � � 3 :
<br /> _, �. . � :: .
<br />:�,� � . . . ' . Page 4 of 5 torm HUD�8246S�A � � � � .' .
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