Any of the following:

• Foreclosure under the Security InstrumentSecurity InstrumentInstrument creating a lien or encumbrance on 1 or more Properties and securing the obligations under the Loan Documents. ;
• any other exercise by the LenderLenderPerson approved by Fannie Mae to sell or service Mortgage Loans. of rights and remedies (whether under the Security InstrumentSecurity InstrumentInstrument creating a lien or encumbrance on 1 or more Properties and securing the obligations under the Loan Documents. or under applicable law, including Insolvency Laws) as holder of the Mortgage LoanMortgage 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. and/or the Security InstrumentSecurity InstrumentInstrument creating a lien or encumbrance on 1 or more Properties and securing the obligations under the Loan Documents. , as a result of which the LenderLenderPerson approved by Fannie Mae to sell or service Mortgage Loans. (or its designee or nominee) or a third-party purchaser becomes owner of the PropertyPropertyMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). ;
• delivery by the BorrowerBorrowerPerson who is the obligor per the Note. to the LenderLenderPerson approved by Fannie Mae to sell or service Mortgage Loans. (or its designee or nominee) of a deed or other conveyance of the BorrowerBorrowerPerson who is the obligor per the Note. ’s interest in the PropertyPropertyMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). in lieu of any of the foregoing; or
• in Louisiana, any dation en paiement.