Laserfiche WebLink
��14��133 <br /> "Accaunts Recei�able"means al� right,titl� and interest of�perator in and ta the following, in <br /> ea�h case arising from the operation of the Healthcare Facility�acated on the Mortgaged <br /> Property in the ordinary course af business: (a�a1I rights to payment of a monetary ohligation, <br /> whether or not earned by perfarman�e, including, but r�ot limited to, accounts recei�able, heaith- <br /> care insurance recei�ables, M�dicaid and MediCare receivabies, Veterans Administration <br /> receivab�es, or other governmental receivables, pri�ate patient receivahles, and HM� <br /> recei�ables, (b�payment intangib�es, ��} guaranties, letter-of-credit rights and other supp�rting <br /> ob}igations relating to the property described in clauses (a}and [b�; and(d� a�1 of the proceeds of <br /> the property descri�ed in clauses �a�, �b} and(c}. Notw�thstanding the foregoing, "Accounts <br /> Rece��able" sha�l not inCiude accounts arising from the sale�f�perator's equipment, �n�entory <br /> or other gaods, other than accaunts arising from the sale of�perator's inventory in the ordinary <br /> course of�perator's business. <br /> "Affiliate" is defined in 24 C.F.R. 2�U.Z15, or any successor regulation. <br /> "An�i�lary Agreement"means any separate agreement between Borrower and Lender for the <br /> purpos� of estab�ishing escrovvs or replac�ment reser�es for the Martgaged Praperty, establishing <br /> an account to assure the completi�n of repairs or impro�ements spec�fied in such agreement, ar <br /> any other agreement or agreements between Borrower and Lender which pra�ide for the <br /> estab�ishment of any other fund, reserve or a�count includ�ng but not �imited to thase reser�es <br /> and escrovvs required by HUD in Connection with c�nstruction activity, if any, and those reser�es <br /> and escrows required by HUD in cannection w�th the Project. Such agreements may include, but <br /> are not �imited ta, any sinking fund agreement, vvhich provides for a depreciation reimbursement <br /> account to pay future principa� payments under the Note, where Medicaid or third-party <br /> reimbursement is on a depreciation plus interest basis; any depreciation reserve fund agreement <br /> which pravides for an escrow or trust account vvith an approved custodian or trustee established <br /> for replacin��quipment and for funding af depreciation in accordance vvith a schedule approved <br /> by HUD. <br /> "Appro�ed Use"means the use�f the Project for the op�ratian of the Healthcare Facility as a <br /> assisted livin�fac�lity vvith 37 unit5 and such �ther uses as may be approved in writing fr�m <br /> time to time�y HUD bas�d upon a request made by Borrower, Master Tenar�t, or�perator, but <br /> excluding an}�uses that are discantinued with th�written approval �f HUD. <br /> "Assisted Li�ing Facility"means a publ�c facility, proprietary facility, or faciiity of a private <br /> nonprafit corporation that�1} is licensed and r�gulated by the 5tate �or if there is no state law <br /> providing for su�h licensing and r�gulatiar�by the State, by the municipaiity or oth�r politica� <br /> subdi�ision} in which the faci�ity is located; (2� makes a�ailable to residents supportive s�rvices <br /> to assist the residents in carrying�ut activit�es af dai�y li�ing, ar�d may make available ta <br /> residents home healthcare ser�ices, such as nursing and therapy; and �3}provid�s separate <br /> dwelling un�ts far residents, each�f which may conta�n a full kitchen and bathroom, and which <br /> includes common rooms and other facilities appropriate for the pro�ision of supporti�e ser�ice t� <br /> the residents of the facil�ty. <br /> "Baard and CarQ Hame"means any residential facility pro�iding roam, board, and continuous <br /> protecti�e o�ersight that is regulated by a State pursuant to the pro�isions�f Section 161 d(e}of <br /> the Soc�al Security Act. <br /> Pre�ious�ersions obsvlete Page �of 4� form HUD-94���-�RCF�Rev.�31'�3} <br />