NOTICE OF DEFAULT AND FORECLOSURE SALE WHEREAS, on September 26, 2012, a certain Mortgage was executed by Reliable Housing Apartments, Inc., as Mortgagor, in favor of the United States of America, acting by and through the Secretary of Housing and Urban Development (the Secretary), as Mortgagee, and was recorded on September 26, 2012, as Instrument No. 3425448 in the Recorder's Office of Beaver County, Pennsylvania. WHEREAS, the Mortgage was issued by the Secretary pursuant to Section 202 of the National Housing Act of 1959, 12 U.S.C Section 1701q, for the purpose of providing multifamily housing to the elderly; and WHEREAS, the beneficial interest in the Mortgage is still owned by the Secretary; WHEREAS, by virtue of this default, the Secretary has declared the entire amount of the indebtedness secured by the Mortgage to be immediately due and payable; NOW THEREFORE, pursuant to powers vested in me by the Multifamily Mortgage Foreclosure Act of 1981, 12 U.S.C. 3701 et seq., by 24 CFR Part 27, and by the Secretary's designation of me as Foreclosure Commissioner, notice is hereby given that on May 21st, 2021 at 12:00PM (Noon) local time, all real and personal property at or used in connection with the following described premises located at 622 Seventeenth Street, Beaver Falls, Pennsylvania 15010, will be sold at public auction to the highest bidder: The sale will be held at the Beaver County Courthouse, 810 Third Street, Beaver, Pennsylvania 15009 The Commissioner's deed to the successful bidder will contain covenants which obligate the grantee to operate the Project in accordance with the appropriate conditions. Also, the successful bidder (other than the Secretary) must receive previous participation clearance in accordance with procedures set out in 24 C.F.R. 200.210 et seq. Additional information about this sale, including the terms under which the sale is being conducted, is provided in a bid package which is available from: https://hud.gov/program_offices/housing/mfh/pd/mfplist All parties who are interested in bidding at the sale must obtain a bid package. The bid package contains sample copies of documents that the purchaser must deliver at the sale and copies of documents that the purchaser must execute at closing. The bid package also describes, among other things, the procedure for prorating real estate taxes, and the purchaser's obligations after the sale. When making their bid, all bidders except the Secretary must submit a deposit totaling $10,000.00 in the form of a certified check or cashier's check made out to the Secretary of Housing and Urban Development. The deposit is nonrefundable. The remainder of the purchase price must be delivered within 30 days of the sale or at such other time as the Secretary may determine for good cause shown, time being of the essence. This amount, like the bid deposits, must be delivered in the form of a certified or cashier's check. If the Secretary is the high bidder, he need not pay the bid amount in cash. The successful bidder will pay all conveyance fees, all real estate and other taxes that are due on or after the date of closing and all other costs associated with the transfer of title. Before being accepted as the purchaser, the high bidder must deliver to the Commissioner, at the time of sale, an executed Acknowledgment by Bidder form. In this form, the high bidder acknowledges that he understands the terms of the sale and the obligations to which he will be bound after the sale. The Secretary may grant an extension of time within which to close. All extensions will be for 30 days, and purchaser must pay a fee, which is the greater of 1.5% of the purchase price or HUD's current holding cost. The extension fee shall be paid in the form of a certified or cashiers check made payable to the Secretary of Housing and Urban Development. If the high bidder closes the sale prior to the expiration of any extension period, the unused portion of the extension fee shall be applied toward the amount due at closing. If the high bidder is unable to close the sale within the required period, or within any extensions of time granted by the Secretary, the high bidder's deposit will be forfeited, and the Commissioner may offer the Project to the second highest bidder for an amount equal to the highest price offered by that bidder. All other terms of the sale would remain the same. If the second highest bidder rejects the Commissioner's offer, no further offers will be made and the sale will be canceled.