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��14��133 �b) �o�enant Events of Default shall ir�ciude: (1} fraud or material misrepresentation or material omissian by Borrower, any . of its officers, dir�ctors, trustees, genera� partners, members, managers or any guarantor in c�nnection with �i}the Loan App�ication f�r or creation of the Indebtedness, �ii} any financial statements, or other repor�ar information pro�ided to Lender or any gavernmental entity during the term of the Indebtedness, or(iii}any reyuest for Lender's consent ta any propos�d acti�n under this Security Instrument or the Note; ��} the commencement of a forfeiture acti�n or proceeding, Whether civil or �riminal, which, in Lender's reasonable judgment, could result in a forf�iture �f the Mortgaged Property or oth�rwise materially�mpair the lien created by this Security Instrument or Lend�r's interest in the Mc�rtgag�d Property; (3} any materiai fai�ure�y Borrawer to perform or compiy vvith any of its obligations under this Security Instrument��ther than those otherwis� spe�if�ed zn this Section 22}, as and when required,which continues f�r a period of thirty �3U�calendar days after Notice of such failure by Lender ta Barrow�r. How�ver, no su�h Notice shall apply in the case of any such material failure which could, �n Lender's judgment, absent immediate exercise by Lend�r of a right or remedy under this �ecurity Instrument, result in harm to Lender or impa�rment of the Nate or this Security I n strument; - �4� so lang as the Loan is �nsured or held by HUD, any failure by Borrawer t� perform any of its ahligations as and vvh�n reQuired under the Borrawer's Regulatory Agreement, which failure continues bey�nd the applicable cure period, if any, specified in the Borrower's Regulatory Agreement; however,vi�lations under the terms of the Borr�wer's Regulatory Agreement may only be treated as a default under this Security Instrument if HUD requests Lender ta tr�at them as such; and, �5) so long as the Laan �s insured�r he�d by HUD, any Ev�nt of Defau�t pursuant to the �perator's Regulatory Agreem�nt,pr��ided that such E�ent of Default pursuant to the �perator's Regulatory Agreemer�t may only be treated as a defau�t under this Security Instrument if HUD requests Lender to treat it as such. �c� Lender shall deiiv�r ta th� Principal�s} of Borrower,Notice, as provided in Section 3�,within five �5�Business Days in each case where Lender has deli�ered Notice to B�rro�ver af an Event of Defau�t, in order to provide the Principal�s� an oppartunity to cure either a Monetary E�ent of D�fault or a�ovenant E�ent of Default. Z3. REMEDIES �UMULATIVE. �ach right and remedy prn�ided in this Security Instrument is distinct from al1 oth�r rights or remedies under this Security Instrument,the Note, Previ�us�ersions obsvlete Page 2fi of 4� form HUO-�40�0-�RCF tRev.431�3}