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<br />~~ FEDEAAt NOUfNiKa AOaMNrrttTrtATtdN
<br />REttsUl.ATORY /M~i~tIEF.MEltiT FOR IMiS11Rft)1AlN.Tt-FAMILY ~ PROJECT't
<br />(With Sa~ctdan 8 Hooting Atsfittanat P,r~t tbniracnrl
<br />*~ + tt No.: I03-351373--PM'-L8
<br />1f1 OC3r1 J. trKldtX2RAY Gt1.
<br />ire cOrirr~,tT x0-: a<c-aa-a ~
<br />At~tst of ligstrtga~ Note feT2, 7013.130 t)a~s AAPRti~- 1, 2'
<br />5kntgs~e:Itecnrdtd: State ts£BRASKA County HALL Dtte 4/4/80 _1~Ef
<br />Doctmment #$0-001473 '~
<br />4hipna@y tlydaiStd for insuranrx under Section 221-D-4 0€ the National Fiousipg Act:
<br />This Agreement enured into thrs 1ST clay of APRIL , 19 80, betwten
<br />HOLIDAY G+ORLIEN TOMNFK)ItSES whose address is
<br />20139 WESF DEL MAR AVBM+E, GRAM ISLAPD, hE9RA5KA
<br />thew sttactsaon, heirs, acrd assigns i}uintW arrd ses•rrally, hereirojirt referrx! to as (hsmersl and the undcrsigrud Secretary of Housing
<br />and Urban Devtlapment and hiss her successors thereinafter referrer! rr~ as Seerrtasv/.
<br />In c.~trrtsideratictn of the endorsement for msuranct by the Secretary uE the atrasK described Hate or in consitkratitm of ttta
<br />wnsent of tht Secretary to the transfer of the rrwstgaaged property err the fait and canveyttnce of the nwrtgttged property by the
<br />S.cretary. and in order to cc>m}rly with she requirements trf tht Nanona3 tlousrng Oct. as amended and the Regttiatiorts adopttd by
<br />the Sceratary purstrans thcietri, i]wners agrte foe tl'itrtt3~tre8. [heir succtaKrrs, heirs and asaiigns, that in eonrt~tian with the rttarigaged
<br />property and the prn}ect optrattd thtrton and xr h>ng as the cuntrat:t of rttcrrtga~e tnsurantx cantintres in effect, and during such fur-
<br />ther perirrd of titre as [ht Seore[ary shall be the +nvner, holder ex reinaurer :,f the mnrtgage, or dtuing any tutu the Secretary is obli-
<br />gated to insure a martpa~ un the mortgaged proptrty
<br />1. t3svrtcrs, except as ltmrted try paragraph ?4 hereof, assurnc and aKree r:~ rrrakt promptiy all payments due under the Hate
<br />and rtxxtgage-
<br />d. (s} lh.'rrers shalt establcstt cu crxtturue to rnamtam a rearrve toad for replasxnrents 6y the allocation t+.r sudr reserve fond
<br />m a stparate a:~ount wnh the mortgagee or to a safe and respanathte deposttc;ry :lasrgnated by the martgarlee, c~n-
<br />current!}- wrth the' hegmnuig ,rt payments towards anwrtixatran of the prarc~pal of the mortgage msurad or heid by
<br />the Secretary ,rf an ant:+unt e~uai to S. ~,~,~,~_ ,firer nxrnth unless a difftren[ date ur anmunt is ap-
<br />}xezvtd to writmlq try the Stcrttary. Such fund, whether in the farm of a cash dep[Ktt ur invtsicd in obtigatioas of.
<br />,n fully guaranteed rs :~: pr{t-rtt~al tp~, the l'nited States erf Amttri:a shall at amts he urtdtr tht control of the nmrt..
<br />Ltishur~rrrents r, m nch strnd. ~hetht-i Icsr ;he ptrr{h+K „f rff'ecturg ttplarttnrni t,t srruct[rtal eienrents, and
<br />nrecttana:ai eyutprrrertt trf the prnttce ,,r for afro outer ,rurpaax. may he ntadt manly after receir-{ng the consent in
<br />wrists r _:!' ttte $c;-rrtart. !n the :+errt „? z ,lelauh in the ±e;rns ,ri the rntntga~, p.ursuanr tv which the !oars has been
<br />ac~~rated. the Secretar}r ;tia} gip;=,ir ,tr urhorrzerl t ht ap{+irLatrrxr ±,! the i<alarr~~ rn >uc#t fund t,* r#te an~rotmt cue
<br />tru tftt nnx+tgdge debt as aueferartd.
<br />{Za! W?tere tJwreera are acquiring a ,x,aject 3l read} iuhtecr ,,, rn inautc,i inc=rtgrge.:he resetvc tend f„r ,rp':acettteuta t~,
<br />ht estabitclted wtll bt :qua! tt: Use amount dtee to !rc ut such Tune! under rxrstutg agrtenrtnta or charter pn:viatona
<br />at tha nr>u (Twnera neyuire such l-rute+,t. artd paytm{[ts Itereundet steal! hctyn wuh the first payment due no the
<br />mortgage abet acyuisttion. unless arnne othtr ntethrnt +,f estahhstnng and roarnmg the fund +s appnrred to wnutrg
<br />by the Secrrtary
<br />(c) if tTrrrtcrs are a n[rrtproiit entny c:r a hmued dtarrehutton me>rtgagur. llwnct. gall establtxtr and marntatn, ut addi-
<br />u.rn to the reserve fund for replacements, a €es{dual rct~trpts rand trs ,ttpr,aturgt therctcr, wah the tnottgager, !rte
<br />rrrtidtWl reatrpts. as ~Gsfined ktnrtur, with tr0 .toys ai'tnr tt>ti rnd +,i are xanannual ,n artttual iia.ai penckl wnhut
<br />whtcJr sur;h recatptsarr realratd Residual tecerpts airail ire uoder the c,tntr,a „t the St~rrtary..rnd sttali !+r <hsbursvd
<br />Wetly un the directrott t,f ttte Stcrrtary, who shall boos the power sad authonty t„ durci that the ,esrdual n•~~ipla.
<br />or any part therrof, he u~d f,n such pwpuse as trc may r±ct*"rnunr
<br />3. Rtrl property coveted by the mortgage and rho Agreentr.nr u,les.utred rn Schedule A attached bettor
<br />#. l:x:~pt as prondad rn Paragtaptr > hr.rcot,
<br />fa) Owturs still slake dwetluttt a~.omnrudatuans and strsi ~s ,~t tta ptotr~t a+arlat!Ve t„ ,~<cut,ann at ~1,argca rr,~t r~-
<br />[xttling t#ist eatablcsiud to acsorttarr;:e with a ttntal sctrrdule aplrroved ut wttimg by the Srr>•taty :1~~.,t~ta[oda-
<br />ti;rsr shalt nOt 9e rtattd for a parie~ ut trss than that} (3C!} ,laps. ~ar, unkay thr murtgaltr r rnsuieil turJe+ `i,rctt„n
<br />«3t, Errs nwre thou throe ,rears Comnteicral facitatee stsa4 trF rented lot such use and n1MH1 iu;h r,;rna a+,,f=prun~,i
<br />by the Seuetary Suhteasutg of dwelling ace{tu5ntodatxxrs, ea~ept for yuht.aws,+! sutglr <tweftmEa.~~,nrrn,t,,iau„n:
<br />by tht itnatrt theteaf, rltall bt prultihrted w-[thatrt prr>=,r µrnten o-pptut~a! t,r i~h.~t+eta Hoer nc~ tirrrctarti and aft} i~,arr
<br />tTtalt 9cr prt>vtde, t3pcur drscnr~ty ,ri at:p unapptuv~rd subica~ t,fwr~es aitalt nnme~itatnis ,."rnt„n.i tan.eiiazn,;r .u+,:
<br />F};rt rf'4 ttN,` .k"tirw t$ry thtCeiri. '
<br />t_hl - l~~;srr rrru,r ,~-trtt_sn spln,ssal t!y CMt'St~Sr~=t;rrp,±Ts,rtrt~. tta'~ :ti:k rt€ i:. Utz;; te_-tt~r t- ;•r „rs 3~.t.e--- ;,.,r _;-.t,
<br />$ t{t7rn M1I41C tE- trrrrt tn$4 i~ :i,~{tr;1~~ ~~)CC1 'tt ~, ''T'L _-d tt__g nSi3s}t 3.. t .try` (t4a i'ia 3~.. _ S ,_, - -
<br />r'tsxa rt~daw:.W tls: u- 4ai t j`. itat.ar :~y„t rt<76_
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