Rider to Multifamily Loan and Security Agreement s2

Rider to Multifamily Loan and Security Agreement s2

<p> RIDER TO MULTIFAMILY LOAN AND SECURITY AGREEMENT</p><p>ALUMINUM WIRING </p><p>(Revised 5-5-2017) </p><p>The following changes are made to the Loan Agreement which precedes this Rider:</p><p>A. Section 6.09(h) is deleted and replaced with the following:</p><p>(h) Aluminum Wiring. Without limiting any other provisions of this Section 6.09, Borrower’s obligations set forth in Section 6.09(a), 6.09(c), and Section 6.09(e) will also include all of the following:</p><p>(i) Borrower will inspect aluminum wiring at the Mortgaged Property for potential failures.</p><p>(ii) Borrower will promptly have an experienced licensed electrician either replace all aluminum wiring with copper wiring, or install industry standard aluminum conductor compatible connection devices approved by the Consumer Safety Products Commission (“Industry Standard Connection Devices”) on all aluminum branch circuit wiring terminations, if, following consultation with an experienced licensed electrical engineer who is acceptable to Lender, such replacement or installation is deemed prudent to prevent damage to the Mortgaged Property.</p><p>(iii) Borrower will promptly have an experienced licensed electrician either replace all aluminum wiring with copper wiring or install Industry Standard Connection Devices on all aluminum branch circuit wiring terminations (A) at the direction of any Governmental Authority, to comply with any applicable law or ordinance, or (B) upon the occurrence of any failure of aluminum wiring.</p><p>(iv) Borrower will promptly repair, restore, or replace any of the Mortgaged Property damaged by any failure of any aluminum wiring.</p><p>B. Section 6.09(e)(vi) is deleted and replaced with the following:</p><p>(vi) Repairs made pursuant to Section 6.09(h).</p><p>C. The following definition is added to Article XII:</p><p>“Industry Standard Connection Devices” is defined in Section 6.09(h)(ii).</p><p>Rider to Multifamily Loan and Security Agreement Aluminum Wiring</p>

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