Common use of Lender Provisions Clause in Contracts

Lender Provisions. A. Nothing in this Agreement prohibits any holder of a mortgage or other lien against the Property or Project from foreclosing its lien or accepting a deed in lieu of foreclosure. Any lien holder shall give HUD, as a courtesy, written notice prior to declaring an event of default. Any lien holder shall provide HUD concurrent notice with any written filing of foreclosure filed in accordance with state law provided that the foreclosure sale shall not occur sooner than sixty days (60) days after such notice to HUD. The Notice to HUD may be personally delivered or sent by U.S. certified or registered mail, return receipt requested, first class postage prepaid, addressed as follows: If for PBRA transactions: U.S. Department of Housing and Urban Development 000 0xx Xxxxxx XX, Xxxx 0000 Washington, DC 20410 Attention: Office of the Assistant Secretary for Housing - Rental Assistance Demonstration If for PBV transactions: U.S. Department of Housing and Urban Development 000 0xx Xxxxxx XX, Xxxx 0000 Washington, DC 20410 Attention: Office of the Assistant Secretary for Public and Indian Housing - Rental Assistance Demonstration

Lender Provisions. A. Nothing in this Agreement prohibits any holder of a mortgage or other lien against the Property or Project from foreclosing its lien or accepting a deed in lieu of foreclosureforeclosure or exercising other rights and remedies available to it. Any lien holder shall give HUD, as a courtesy, written notice prior to declaring an event of default. Any lien holder shall provide HUD concurrent notice with any written filing of foreclosure filed in accordance with state law provided that the foreclosure sale shall not occur sooner than sixty days (60) days after such notice to HUD. The Notice to HUD may be personally delivered or sent by U.S. certified or registered mail, return receipt requested, first class postage prepaid, addressed as follows: If for PBRA transactions: U.S. Department of Housing and Urban Development 000 0xx Xxxxxx XX, Xxxx 0000 Washington, DC 20410 Attention: Office of the Assistant Secretary for Housing - Rental Assistance Demonstration If for PBV transactions: U.S. Department of Housing and Urban Development 000 0xx Xxxxxx XX, Xxxx 0000 Washington, DC 20410 Attention: Office of the Assistant Secretary for Public and Indian Housing - Rental Assistance Demonstration