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79003354
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1/13/2010 12:11:56 AM
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1/13/2010 12:11:47 AM
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DEEDS
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79003354
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79-- ~;t13354 <br />-a- <br />(13) Mortgagor will comply with the provisions of any Federal, State or 'local law prohibiting <br />discrimination in housing on the grounds of race, color, creed or national origin, including <br />Title VI of the Civil Rights Act of 1964 (P.L. 88-352, 42 U.S.C. 2000d-1), Title VIII of the <br />Civil Rights Act of 1968 (P.L. 90-284, 42 U.S.C. 3601) and Executive Order 11063 (27 F.R. <br />11527), and all requirements imposed by or pursuant to the regulations of the Dcpazcment <br />of Housing and Urban Development (24 CFR) issued pursuant to Title VI, Title VIII, or <br />Executive Order 11063. <br />(I4) No litigation seeking the recovery of a slim in excess of 55,000 nor any action for specific <br />performance or other equitable relief shall be instituted nor shall any claim for a sum in <br />excess of 55,000 be settled or compromised by the Mortgagor unless prier written consent <br />thereto has been obtained from HUB. Such consent may be subject to such terms and <br />condirions as HUD may prescribe. <br />(15) Upon a violation of any of the above provisions of this Agreement by Mortgagor, HUD may <br />give written notice, thereof, to Mortgagor, b}~ registered or certified mail, addressed to the <br />address stated in this Agreement, or such other address as may subsequently, upon appropriate <br />written notice thereof to HUD, be designated by the Mortgagor as its legal business address. If <br />such violation is not corrected to the satisfaction of HUD within 30 days after the date such <br />notice is mailed or within such further time as HUD determines it is necessary to correct the <br />violation, without further notice HUD may declaze a Default under this Agreement effective <br />on the date of such declazation of default and upon such Default HUB may: <br />(1) Take possession of the proiect, bring any action necessazy to enforce any rights of the <br />mortgagor growing out of the project operation, and operate the project in accordance <br />with the terms of this Agreement until such time as HUD in its discretion determines <br />that the mortgagor is again in a position to operate the project in accordance with the <br />terms of this Agreement and in compliance with the requirements of the Note and <br />Mortgage. <br />(2) CoIlect all renu and charges in connection with the operation of the project and use <br />such collections to pay the mortgagor's obligations under this Agreement and under <br />the Note and Mortgag:,, and the necessary expenses of preserving the property and <br />operating the project. <br />{3) Declare the whole of said indebtedness immediately due and payable and then proceed <br />with the foreclosure of the mortgage. <br />(4) Apply to any court, State or Federal, for specific performance of this Agreement, for <br />an injunction against any violation of the Agreement, for the appointment of a receiver <br />to take over and operate the property in accordance with the terms of the Agreement, <br />or for such other relief as may be appropriate, since the injury to HUD arising from a <br />default under any of the terms of this Agreement would be irrepazable and the amount <br />of damage would be difficult to ascertain. <br />(lb) (a) Mortgagor has executed an Agreement to enter into a Housing Assistance Payments <br />Contract. The terms of the Housing Assistance Payments Contract, when executed, <br />shaL1 be incorporated by reference into this Regulatory Agreement-, <br />(b} A violation of the Housing Assistance Payments Contract may be construed to consti- <br />tute adefault hereunder in the sole discretion of HUD; <br />(c) In the event said Housing Assistance Payments Contract expires or terminates before <br />the expiration or termination of this Agreement, the provisions cf this paragraph and <br />any other reference to said contract, to Section 8 and to Section 8 units contained <br />herein shall be self-cancellirtg shall no longer be effective as of the date of the expiration <br />or termination of the Housing Assistanee Payments Contract. <br />{Q7) As used in this Agreement the term: <br />(a) "Mortgage" includes "Deed of Trust", "Chattel Mortgage" and any ocher security for <br />the Note identified herein; <br />(b} "Mortgagee" refers to the holder of the mortgage identified herein, its successors and <br />asstgns; <br />(c} "Mortgaged Property" includes proaerry, real, personal, or mixed, covered by the <br />mortgage or mortgages securing the note held by HUD; <br />(d} "Project" includes the mortgaged property and all its other assets or whatsoever situate, <br />used in or owned by the business conducted on said mortgaged property; <br />(e) "Distribution" means any withdrawal ar taking of cash or other assets of the project <br />other than for mortgage pa-yments or for payment of reasonable expenses incident co <br />its construction, operation and maintenance; <br />(f) "Default" means a default declared by HUD when a violation of this Agreement is not <br />corrected to its satisfactio.^. within. *.he time allowed by this Agreement or such further <br />time as malr be allowed by HUD after written notice; <br />
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