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82002283
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Last modified
3/10/2009 5:31:25 AM
Creation date
2/28/2009 12:09:14 AM
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DEEDS
Inst Number
82002283
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<br />:. <br />$2-'1~~+22R3' <br />'1 Agency, neither the GranCee nor any successor in interest to the <br />?revises sna11 ~.ngage in any ~itixrfcing or any other transaction <br />vreating any :nortgag~~ or otno~- encumbrance or lien upon the <br />- Premises, ~.~hether Dy express agreement or ageraton of law, or <br />sFs'fer any enciimbrarace ar lien to be ,made on or attached to the Pre <br />_ rises, except for the, purpose only af'obtainng: <br />- A. Funds only to the extent necessary. for making:' <br />' the improvements; or' <br />B. ~uctx-additional`funds, if any, in an amount vat to <br />exceed Che purchase price. paid by the Grantee. <br />CsnCl issuance of the certificate of completion, Grantee or its <br />successors in interest shall notify the Director of the Community <br />Development agency, in advance, of any financing secured by a mort- <br />gage ar other similar lien instrument which Grantee proposes to <br />enter into with respect to the Premises, and of any encumbrance or <br />Ien that has been created or attached to the Premises b~ invalunt- <br />ary act of the. Grantee, or otherwise. <br />7. 'The".holder o2 anv mortgage authorized by the lirector of <br />the Community Aevelopment agency, including any holder who obtains <br />titla to the Premises ar any parC therea£ as-a result of s"areclosure <br />proceedings ar act;on in lieu thereof fbut not includingi <br />ca arsy oCiser party wtto thereafter obtains title to the <br />Premises ~ar such part from or- Chresugh such ha'lder; <br />ar <br />tb} any other purchaser at forecisoure sale either than <br />the holder>of the:martgage itself,) <br />shall be obligated h~ the.pravisans of this deed"to construct or <br />corrpiete the construction of the improvements, ar to guarantee sucei <br />~ ` <br />~', <br />
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