Effect of Foreclosure on this Covenant. Except as provided in Section 8.3.3, in the event of foreclosure or deed in lieu thereof, this Covenant shall not be released or terminated and the Mortgagee or any Person who takes title to an Affordable Unit through a foreclosure sale shall become a Transferee in accordance with Section 5.8.
Appears in 2 contracts
Samples: Affordable Housing Covenant, Affordable Housing Covenant
Effect of Foreclosure on this Covenant. Except as provided in Section 8.3.310.3.3, in the event of foreclosure or deed in lieu thereof, this Covenant shall not be released or terminated released, and the Mortgagee or any Person who takes title to an a For Sale Affordable Housing Unit through a foreclosure sale shall become a Transferee in accordance with Section 5.85.6.
Appears in 1 contract
Samples: Housing Covenant
Effect of Foreclosure on this Covenant. Except as provided in Section 8.3.3, in the event of foreclosure or deed in lieu thereof, this Covenant shall not be released or terminated and the Mortgagee or any Person who takes title to an Affordable Unit or the Property through a foreclosure sale shall become a Transferee in accordance with Section 5.8.
Appears in 1 contract
Samples: Affordable Housing Covenant
