MH Communities with Tenant Site Lease Protections

A Mortgage Loan Mortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. Test Notes-SV Test Again Sub-bullet test1 Sub-bullet test2 secured by an MH Community MH CommunityResidential real estate development with lots on which manufactured homes are located, together with amenities, utility services, landscaping, roads, and other infrastructure. with Tenant Site Lease Protections Tenant Site Lease ProtectionsMH Site Lease with the Homeowner or tenant of a Manufactured Home with: a 1-year renewable (at the MH Site Lease tenant’s election) lease term, unless good cause for nonrenewal exists; a minimum 30-day written notice of rent increases; 5-day minimum grace period for non-payment of rent,… requires additional monitoring.  The Loan Documents Loan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. require the Borrower BorrowerPerson who is the obligor per the Note. to annually provide:

• a certified copy of the current residential MH Site MH SiteDeveloped lot within an MH Community on which a Manufactured Home can be located. Lease LeaseWritten agreement between an owner and the tenant of a Property stipulating the conditions for possession and use of real estate for a specified period of time and rent. form;
• a certified copy of the notice sent to all MH Site MH SiteDeveloped lot within an MH Community on which a Manufactured Home can be located. Lease LeaseWritten agreement between an owner and the tenant of a Property stipulating the conditions for possession and use of real estate for a specified period of time and rent. tenants if the Tenant Site Lease Protections Tenant Site Lease ProtectionsMH Site Lease with the Homeowner or tenant of a Manufactured Home with: a 1-year renewable (at the MH Site Lease tenant’s election) lease term, unless good cause for nonrenewal exists; a minimum 30-day written notice of rent increases; 5-day minimum grace period for non-payment of rent,… were implemented by the Rules and Regulations;
• copies of any actual MH Site MH SiteDeveloped lot within an MH Community on which a Manufactured Home can be located. Lease LeaseWritten agreement between an owner and the tenant of a Property stipulating the conditions for possession and use of real estate for a specified period of time and rent. requested by Lender LenderPerson Fannie Mae approved to sell or service Mortgage Loans. ; and
• a certification of the actual percentage of MH Site MH SiteDeveloped lot within an MH Community on which a Manufactured Home can be located. Leases LeasesWritten agreement between an owner and the tenant of a Property stipulating the conditions for possession and use of real estate for a specified period of time and rent. that include all required Tenant Site Lease Protections Tenant Site Lease ProtectionsMH Site Lease with the Homeowner or tenant of a Manufactured Home with: a 1-year renewable (at the MH Site Lease tenant’s election) lease term, unless good cause for nonrenewal exists; a minimum 30-day written notice of rent increases; 5-day minimum grace period for non-payment of rent,… , and that no material changes have been made to the MH Community’s MH Community’sResidential real estate development with lots on which manufactured homes are located, together with amenities, utility services, landscaping, roads, and other infrastructure. rules and regulations or to the MH Site MH SiteDeveloped lot within an MH Community on which a Manufactured Home can be located. Lease LeaseWritten agreement between an owner and the tenant of a Property stipulating the conditions for possession and use of real estate for a specified period of time and rent. form.

The Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must:

• confirm the Borrower's Borrower'sPerson who is the obligor per the Note. ongoing compliance with the Loan Documents Loan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. ;
• if the Tenant Site Lease Protections Tenant Site Lease ProtectionsMH Site Lease with the Homeowner or tenant of a Manufactured Home with: a 1-year renewable (at the MH Site Lease tenant’s election) lease term, unless good cause for nonrenewal exists; a minimum 30-day written notice of rent increases; 5-day minimum grace period for non-payment of rent,… were implemented within the MH Community’s MH Community’sResidential real estate development with lots on which manufactured homes are located, together with amenities, utility services, landscaping, roads, and other infrastructure. rules and regulations, confirm:
  • the rules and regulations contain all Tenant Site Lease Protections Tenant Site Lease ProtectionsMH Site Lease with the Homeowner or tenant of a Manufactured Home with: a 1-year renewable (at the MH Site Lease tenant’s election) lease term, unless good cause for nonrenewal exists; a minimum 30-day written notice of rent increases; 5-day minimum grace period for non-payment of rent,… and are publicly posted in the MH Community MH CommunityResidential real estate development with lots on which manufactured homes are located, together with amenities, utility services, landscaping, roads, and other infrastructure. ; and
  • each MH Site MH SiteDeveloped lot within an MH Community on which a Manufactured Home can be located. Lease LeaseWritten agreement between an owner and the tenant of a Property stipulating the conditions for possession and use of real estate for a specified period of time and rent. tenant received written notice of all Tenant Site Lease Protections Tenant Site Lease ProtectionsMH Site Lease with the Homeowner or tenant of a Manufactured Home with: a 1-year renewable (at the MH Site Lease tenant’s election) lease term, unless good cause for nonrenewal exists; a minimum 30-day written notice of rent increases; 5-day minimum grace period for non-payment of rent,… added to the rules and regulations;
• if the Tenant Site Lease Protections Tenant Site Lease ProtectionsMH Site Lease with the Homeowner or tenant of a Manufactured Home with: a 1-year renewable (at the MH Site Lease tenant’s election) lease term, unless good cause for nonrenewal exists; a minimum 30-day written notice of rent increases; 5-day minimum grace period for non-payment of rent,… were implemented within the MH Site MH SiteDeveloped lot within an MH Community on which a Manufactured Home can be located. Lease LeaseWritten agreement between an owner and the tenant of a Property stipulating the conditions for possession and use of real estate for a specified period of time and rent. :
  • confirm the MH Site MH SiteDeveloped lot within an MH Community on which a Manufactured Home can be located. Lease LeaseWritten agreement between an owner and the tenant of a Property stipulating the conditions for possession and use of real estate for a specified period of time and rent. form includes:
    • all Tenant Site Lease Protections Tenant Site Lease ProtectionsMH Site Lease with the Homeowner or tenant of a Manufactured Home with: a 1-year renewable (at the MH Site Lease tenant’s election) lease term, unless good cause for nonrenewal exists; a minimum 30-day written notice of rent increases; 5-day minimum grace period for non-payment of rent,… ; and
    • the required percentage of MH Site MH SiteDeveloped lot within an MH Community on which a Manufactured Home can be located. Leases LeasesWritten agreement between an owner and the tenant of a Property stipulating the conditions for possession and use of real estate for a specified period of time and rent. (i.e., 25%, 50%, or 100%) are covered by the Tenant Site Lease Protections Tenant Site Lease ProtectionsMH Site Lease with the Homeowner or tenant of a Manufactured Home with: a 1-year renewable (at the MH Site Lease tenant’s election) lease term, unless good cause for nonrenewal exists; a minimum 30-day written notice of rent increases; 5-day minimum grace period for non-payment of rent,… ; and
  • annually audit at least 25% of the minimum percentage of MH Site MH SiteDeveloped lot within an MH Community on which a Manufactured Home can be located. Leases LeasesWritten agreement between an owner and the tenant of a Property stipulating the conditions for possession and use of real estate for a specified period of time and rent. required per the Loan Documents Loan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. (i.e., 25%, 50%, or 100%) to ensure all Tenant Site Lease Protections Tenant Site Lease ProtectionsMH Site Lease with the Homeowner or tenant of a Manufactured Home with: a 1-year renewable (at the MH Site Lease tenant’s election) lease term, unless good cause for nonrenewal exists; a minimum 30-day written notice of rent increases; 5-day minimum grace period for non-payment of rent,… are included;
• determine whether the Borrower BorrowerPerson who is the obligor per the Note. complied with all terms of the Tenant Site Lease Protections Tenant Site Lease ProtectionsMH Site Lease with the Homeowner or tenant of a Manufactured Home with: a 1-year renewable (at the MH Site Lease tenant’s election) lease term, unless good cause for nonrenewal exists; a minimum 30-day written notice of rent increases; 5-day minimum grace period for non-payment of rent,… (e.g., the Borrower BorrowerPerson who is the obligor per the Note. only raised MH Site MH SiteDeveloped lot within an MH Community on which a Manufactured Home can be located. Lease LeaseWritten agreement between an owner and the tenant of a Property stipulating the conditions for possession and use of real estate for a specified period of time and rent. rents after required notice);
• retain the review of the Borrower's Borrower'sPerson who is the obligor per the Note. certification and audit results in the Servicing File Servicing FileYour file for each Mortgage Loan serviced. ;
• for Tenant Site Lease Protection Tenant Site Lease ProtectionMH Site Lease with the Homeowner or tenant of a Manufactured Home with: a 1-year renewable (at the MH Site Lease tenant’s election) lease term, unless good cause for nonrenewal exists; a minimum 30-day written notice of rent increases; 5-day minimum grace period for non-payment of rent,…  requirements, notify Multifamily Asset Management Multifamily Asset ManagementTeam that can be contacted at [email protected]. annually via DUS 360 of the Borrower’s Borrower’sPerson who is the obligor per the Note. :
  • certification and compliance; or
  • failure to comply; and
• for any Borrower BorrowerPerson who is the obligor per the Note. failure to comply with the Tenant Site Lease Protection Tenant Site Lease ProtectionMH Site Lease with the Homeowner or tenant of a Manufactured Home with: a 1-year renewable (at the MH Site Lease tenant’s election) lease term, unless good cause for nonrenewal exists; a minimum 30-day written notice of rent increases; 5-day minimum grace period for non-payment of rent,…  requirements in the Loan Documents Loan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. , comply with the following.