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[reservation of rights letter] [Servicer's Letterhead]


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[RESERVATION OF RIGHTS LETTER]

[Servicer's Letterhead]

[Date]
VIA EMAIL:__________________



and VIA CERTIFIED MAIL,

RETURN RECEIPT REQUESTED
[Borrower Name and Address]

Re: Fannie Mae Mortgage Loan Number: (the “Mortgage Loan”)

Mortgaged Property: ____________________________(the “Property”)
Unauthorized (select one) [Partial Release] [Easement] [Condemnation Action] [Mineral Rights and Subsurface Oil and/or Gas Rights] [Conversion of Use]
Dear Borrower:
Reference is hereby made to the $ ____________________Multifamily Note dated (the “Note”), executed by _____________ (“Borrower”), payable to the order of ____________ (the “Servicer”). The Servicer assigned, negotiated, and transferred the Note to Fannie Mae, the current owner and holder of the Note.
In connection with the Mortgage Loan, please be advised as follows:
1. There has been (select one) [a partial release granted on the Property. The granting of a partial release without approval by Fannie Mae is not permitted under the Note and related Loan Documents.] OR [an easement granted on the Property. The granting of an easement without approval by Fannie Mae is not permitted under the Note and related Loan Documents.] OR [a condemnation action affecting the property. A condemnation action or other taking of any part of the Property through the exercise of the power of eminent domain without notifying Fannie Mae is not permitted under the Note and related Loan Documents] OR [mineral rights and subsurface oil and/or gas rights granted on the Property. The granting of mineral rights and subsurface oil and/or gas rights without approval by Fannie Mae is not permitted under the Note and related Loan Documents.] OR [a conversion of use or condominium conversion granted on the Property. The granting of a conversion of use or condominium conversion without approval by Fannie Mae is not permitted under the Note and related Loan Documents.]
2. The Servicer’s or Fannie Mae’s acceptance of any payment on the Mortgage Loan should not be considered an approval of the (select one) [Partial Release] [Easement] [Condemnation Action] [Mineral Rights and Subsurface Oil and/or Gas Rights] [Conversion of Use] or a novation, modification, or renewal of the Mortgage Loan. Notwithstanding the acceptance of any payments or any other amounts at any time by the Servicer, Fannie Mae does not waive any default which may exist under the Note and related Loan Documents executed in connection with the Note. Furthermore, acceptance of any payment shall not act as a waiver of, nor prevent Fannie Mae from exercising any right, remedy, or power available to Fannie Mae, including, without limitation, all rights, remedies, and powers granted under the Security Instrument and any related Loan Documents and at law or in equity.


  1. This written notice is being transmitted as a courtesy to you and is not intended as an admission that any written notice is otherwise due you.

4. The only agreements that continue to exist between Fannie Mae and you are those set forth in the Note and any related Loan Documents, which may only be amended by agreement of the parties in writing.


If you have any further questions regarding this matter, please do not hesitate to call me at the above number.
Sincerely,

cc: , Fannie Mae



, [Servicer]

, [Key Principal(s)]

Reservation of Rights Letter Form 4804 Page

Fannie Mae 05-10 © 2010 Fannie Mae


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