COMPLETIONREPAIRANDSECURITYAGREEMENTA.docVIP

Fannie Mae Completion/Repair and Security Agreement Form 4505 4/00 (Page page \* arabic11) ? 1997-2000 Fannie Mae COMPLETION/REPAIR AND SECURITY AGREEMENTPRIVATE  THIS COMPLETION/REPAIR AND SECURITY AGREEMENT (this Agreement) is made this ______ day of _____________, __________ by ____________________________ (Borrower), and _______________________________ its successors, transferee and assigns (Lender). RECITALS: seq level0 \h \r0 seq level1 \h \r0 seq level2 \h \r0 seq level3 \h \r0 seq level4 \h \r0 seq level5 \h \r0 seq level6 \h \r0 seq level7 \h \r0 seq level0 \*ALPHABETICA. This Agreement is being executed in connection with Lenders making a mortgage loan to Borrower in the original principal amount of $___________________ (the Loan). The proceeds of the Loan will be used to finance a multifamily project known as _________________________________________________________, and located in _____________________________________________________________________ (the Property). seq level0 \*ALPHABETICB. The Loan is evidenced by a Multifamily Note (including any addenda, the Note), dated the date of this Agreement, made by Borrower and is secured by, among other things, a Multifamily [Mortgage] [Deed of Trust] [Deed to Secure Debt], Assignment of Rents and Security Agreement (including any Riders, the Security Instrument), dated the date of this Agreement, granting a first lien on the Property. The Note, Security Instrument, this Agreement and all other documents executed in connection with the Loan are collectively referred to as the Loan Documents. seq level0 \*ALPHABETICC. Lender requires as a condition of making the Loan that Borrower deposit with Lender the Deposit (as defined below) as additional security for all of the Borrowers obligations under the Loan Documents. NOW, THEREFORE, in consideration of the above and the mutual promises contained in this Agreement, the receipt and sufficiency of which are acknowl