Common use of Cross Default and Cross Collateralization Clause in Contracts

Cross Default and Cross Collateralization. 1. For Mortgage Loans that are cross-defaulted and cross-collateralized and a single Note evidences the Mortgage Loan secured by Security Instruments on two (2) or more Mortgaged Properties: (a) Modifications to Multifamily Loan and Security Agreement (Cross- Collateralization: Single Note) (6204). (b) Modifications to Security Instrument (Cross-Collateralization: Single Note) (6306). 2. For Mortgage Loans that are cross-defaulted and cross-collateralized and are evidenced by separate Notes: (a) Modifications to Multifamily Loan and Security Agreement (Cross-Default and Cross-Collateralization: Multi-Note) (6203). (b) Modifications to Security Instrument (Cross-Default and Cross- Collateralization: Multi-Note) (6305).