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201302390
<br />make Distributions to any individual member or shareholder. The definition of "Non- Profit
<br />Borrower" does not include a non - profit borrower who is treated under the Firm
<br />Commitment as a for profit borrower.
<br />t. "Note" means the Note executed by Borrower described in the Security
<br />Instrument, including all schedules, riders, allonges and addenda, as such Note may be
<br />amended from time to time.
<br />v. "Personalty" means all equipment, inventory, and general intangibles. The
<br />definition of "Personalty" includes furniture, furnishings, machinery, building materials,
<br />appliances, goods, supplies, tools, books, records (whether in written or electronic form),
<br />computer equipment (hardware and software) and other tangible or electronically stored
<br />personal property (other than Fixtures) that are owned, leased or used by Borrower now or
<br />in the future in connection with the ownership, management or operation of the Land or the
<br />Improvements or are located on the Land or in the Improvements, and any operating
<br />agreements relating to the Land or the Improvements, and any surveys, plans and
<br />specifications and contracts for architectural, engineering and construction services relating
<br />to the Land or the Improvements, choses in action and all other intangible property and
<br />rights relating to the operation of, or used in connection with, the Land or the
<br />Improvements, including all certifications, approvals and governmental permits relating to
<br />any activities on the Land. Generally, intangibles shall also include all cash and cash
<br />escrow funds related to the Project, such as but not limited to: Reserve for Replacement
<br />accounts, bank accounts, Residual Receipt accounts, and investments.
<br />Revious editions are obsolete
<br />Replaces form f92466 (11/02)
<br />u. "Notice" is defined in Section 46.
<br />w. "Principal" is defined in 24 C.F.R. 200.215, or any successor regulation.
<br />x. "Project" and "Project Assets" mean the Mortgaged Property.
<br />y. "Program Obligations" means (1) all applicable statutes and any
<br />regulations issued by the Secretary pursuant thereto that apply to the Project, including all
<br />amendments to such statutes and regulations, as they become effective, except that
<br />changes subject to notice and comment rulemaking shall become effective only upon
<br />completion of the rulemaking process, and (2) all current requirements in HUD handbooks
<br />and guides, notices, and mortgagee letters that apply to the Project, and all future updates,
<br />changes and amendments thereto, as they become effective, except that changes subject
<br />to notice and comment rulemaking shall become effective only upon completion of the
<br />rulemaking process, and provided that such future updates, changes and amendments
<br />shall be applicable to the Project only to the extent that they interpret, clarify and implement
<br />terms in this Agreement rather than add or delete provisions from such document.
<br />Handbooks, guides, notices, and mortgagee letters are available on HUD's official website:
<br />(http: / /www.hud.gov /offices /adm/hudclips /index.cfm or a successor location to that site).
<br />z. "Property Jurisdiction" is (are) the jurisdiction(s) in which the Land is
<br />located.
<br />CR- Regulatory Agreement F1A92466M(Rev.4/11)
<br />Page 6 FRENCH VLLAGE
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