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 Fannie Mae approved 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 Fannie Mae approved to sell or service Mortgage Loans. (or its designee or nominee) or a third-party purchaser becomes owner of the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). ;
• delivery by the BorrowerBorrowerPerson who is the obligor per the Note. to the LenderLenderPerson Fannie Mae approved to sell or service Mortgage Loans. (or its designee or nominee) of a deed or other conveyance of the Borrower’sBorrower’sPerson who is the obligor per the Note. interest in the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). in lieu of any of the foregoing; or
• in Louisiana, any dation en paiement.