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200509638
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9/28/2005 2:14:33 PM
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9/28/2005 2:14:32 PM
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DEEDS
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200509638
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<br />~ <br /> <br />(ii) All obligations of the project other than the <br />mortgage held by HUD unless funds for pay- <br />ment are set aside or deferment of payment has <br />been approved by HUD; and <br /> <br />(2) The segregation of; <br /> <br />(i) An amount equal to the aggregate of all special <br />funds required to be maintained by the project; <br /> <br />(ii) All tenant security deposits held. <br /> <br />(h) "Assisted Units" refer to units assisted pursuant to <br />Project Rental Assistance Contract. <br /> <br />(i) "Assistance Contract" refers to a Project Rental <br />Assistance Contract between the Mortgagor <br />and HUD under Section 202 ofthe Housing Act <br />of 1959 or between the Mortgagor and HUD <br />under Section 8ll(d)(2) of the National Afford- <br />able Housing Act of 1990. <br /> <br />18. HUD shall not be liable for any of its actions hereunder <br />except for arbitrary and capricious conduct. <br /> <br />19. This instrument shall bind, and the benefits shall inure to, <br />the respective parties hereto, their legal representatives, <br />executors, administrators, successors in office or interest, <br />and assigns, and all owners of the mortgaged property, so <br />long as the Mortgage is outstanding. <br /> <br /> <br />c 51eJe:- G <br /> <br />Official Title <br /> <br />Dale <br /> <br />MF Dil'~ cfc;v <br /> <br />qp(p oS- <br /> <br />Page 5 of 5 <br /> <br />200509638 <br /> <br />20. The invalidity of any clause, part or proVISIOn of this <br />Agreement shall not affect the validity of the remaining <br />portions thereof. <br /> <br />21. Mortgagor warrants that it has not, and will not, execute any <br />other agreement with provisions contradictory of, or in <br />opposition to, the provisions hereto, and that, in any evcnt, <br />the requirements of this Agreement are paramount and <br />controlling as to the rights and obligations set forth and <br />supersede any other requirements in conflict therewith. <br /> <br />22. Mortgagor does not assume personal liability for payments <br />due under the Note and mortgage or for payments to the <br />reserve for replacement fund. However, defaults or other <br />failures to follow program requirements may result in lim- <br />ited denial of participation or debarment from HUD or other <br />Federal programs. <br /> <br />23. Mortgagor shall have available necessary equipment or <br />devices and make reasonable accommodations to meet the <br />needs of persons with visual and/or hearing impairmcnts in <br />compliance with Section 504 of the Rehabilitation Act of <br />1973 (29 U.S.c. 794) and 24 CFR Part 8. <br /> <br /> <br />Ann Z. Martin <br />Official Title <br /> <br />Date <br /> <br />9/23/2005 <br /> <br />President <br /> <br />form HUD-92466-CA (4/92) <br />ref. Handbook 4571.4 & 4571.5 <br />
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