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��14��134 at the time such Distribution is made, arid must retain su�h documenta.tion in accorda.r�ce with Program�bligations, f�r audit and HUD man�taring purpo�es. 17. RESIDUAL RE�EIPTS. (a} Any Non-Prnfit Barrower shal�establish and maintain a Residua.l I�eceipts account. Unless�d until oth�rwise appro�ed in writing by HL�D,Residua�Receipts and the �e�idual R.eceipts ac�ount shali be restri�ted as set farth in this Section 17. Within ninety(9�} days aft�r the end of the a.nnua.l or semi-anr�ua�1 fiscai per�od f�r Which Surplus Cash is cal�ulated, Borrower�hal�depasit into the Residua.l Receipts acca�u�t an amount equal ta the ea�c�ss, if any, �f�i) Sur�lus Gash as of the end�f such fiscal peri�d over(ii)th�am�unt of any permitted D�str�but��ns therefrom. �b} �esidual Recei�ts shall b�deposited with�ender or in a safe and re�pansib�e depositary designat��b�Lender in a�corda.�ce with Program C�bl�gatinns. Residua� Receipts shall at all times remain under the cantrol �f Lender or Lender's designee,whether in the form of a cash dep�sit or in�ested in ob�igations of, or fully guaranteed as to�rincipal by,the LTnited States�f Amer�ea or�n such other i�.ves�ment�as may be allowed by HUI] and sha1�be he1�ir�accnunts insur�d or guaranteed by a federal agen�y and in aGcordance,with Pr�gxam �bligat�ons. �c� Borrower shall carry�he balan�e in such acG�unt on the financial records a.s a restri�ted asset. Ftesidual�e�eipt� shal�b�invested ir�acc�rdance with Program �bligati�x�s, and any�r�terest earned on the in�estment sha�1 be dep�sited in�he Residua� . Receipts accour�t f�r us�by the Project in acGordance�vith this S�ction 17. �d} Disbur�ements from such accaur�t shall only be made after consent, in writing,4f HUD,whrch may be given or withheld in its sole d�scre�ion,provid�d that, if the Non-Profit Borrower has been�ermitted t�take Distribution�as ind�cat�d on the first page af this Agre�ment,then HUD shall app�y the��nditions enumerat�d in Sect�on 16��e)in granting or VV1��717��.C�lri�5L1C�1 C(�I15�rit. In th�ev�nt of a na�ification of default under the terms af the Borro�rer's Security Instrurnent,pursuant t� whi�h the Indebtedness has been acce�er�ted, a written n�tif cation by H[JI]t�Borrower c�f a�ialatian of thi�A�reement ar a�such other times as deterrr�ined solely by HUI],HLJD may d�rect the appliGation of the balance in such a�caunt to . the arnount due an the Indebtedness as acce��rated�r far such other purposes as may be determined s��e�y b�HiJD. �e� Upon Borr�wer's fu�I s�atisfactio�n of all its❑��igations und�r the �,oan I)ocuments, all funds reznainin�in the Residual Receipts aGcoun�shall be rel�ased to th� I��rrower. �f� Borrower may, only w�th the advanc�wri�ten a�prava� Qf HUD,harr�w funds fram Res�dual Re�eipts for Reasanable �perating Expenses as prov�ded�n Prograrn C]b�igations or for su�h other purposes a.s HUD may permit. Such�nds sha�l be repaid to the �r2.esidual T�.ec�ipts account pursu.ant�a�the t�rxx�s appro�ed by HUI]prior ta the making af su�h loan. To th�ext�nt HUD does not specify repa�m�nt requirements,Borrower shall repay t,h� Residual Receipts account in full within thi�y�3�}days of the approv�d withdrawal. If Pre�ivus�ersi�ns�hsolete Page 13 of�8 farm HU�]-924Sf-aRCF�Rev.D3113}