Common use of 12B Clause in Contracts

12B. For the avoidance of doubt, if any reported decision of a state appellate court would result in the foregoing clauses (i)(A) and (i)(B) applying in such state or if the legal opinion described in clause (B)(x) of the definition of “Applicable HOA Properties” in respect of a state, is conditioned on the presence of subordination language or the absence of provisions which would otherwise allow a Lien for homeowner’s association fees to extinguish the Lien of a mortgage upon the valid and proper foreclosure of such Lien for homeowner’s association fees, then such state shall constitute an Applicable HOA State.

Appears in 6 contracts

Samples: Loan Agreement (Invitation Homes Inc.), Loan Agreement (Invitation Homes Inc.), Loan Agreement (Invitation Homes Inc.)

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