Common use of Termination Upon Foreclosure and Assignment Clause in Contracts

Termination Upon Foreclosure and Assignment. In the event title to a For Sale Affordable Unit is transferred following foreclosure by, or deed in lieu of foreclosure to a Mortgagee in first position, or a Mortgage in first position is assigned to the Secretary of HUD, the terms of this Covenant applicable to such unit shall automatically terminate subject to Sections 8.3.4 and 8.4.

Termination Upon Foreclosure and Assignment. In the event title to a For Sale Affordable Housing Unit is transferred following foreclosure by, or deed in lieu of foreclosure to to, a Mortgagee in first position, or a Mortgage in first position is assigned to the Secretary of HUD, the terms of this Covenant applicable to such unit shall be automatically terminate terminated subject to Sections 8.3.4 10.3.4 and 8.410.

Termination Upon Foreclosure and Assignment. In the event title to the Property or a For Sale Affordable Unit is transferred following foreclosure by, or deed in lieu of foreclosure to a Mortgagee in first position, or a Mortgage in first position is assigned to the Secretary of HUD, the terms of this Covenant applicable to such unit or the Property shall automatically terminate subject to Sections 8.3.4 and 8.4.

Termination Upon Foreclosure and Assignment. In the event title to a For Sale Affordable Unit is transferred following foreclosure byby foreclosure, or deed in lieu of foreclosure to thereof by a Mortgagee in first position, or a Mortgage in first position is assigned to the Secretary of HUD, the terms of this Covenant applicable to such unit shall be automatically terminate terminated subject to Sections 8.3.4 and 8.4.