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201406134
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Last modified
7/20/2017 8:55:51 PM
Creation date
9/26/2014 2:20:47 PM
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DEEDS
Inst Number
201406134
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��14��134 <br /> ZS. PR�FESSI�NAL LIABILITY INSURAN�E. I�orrower shall ma�nta.i�.,ar <br /> cause��erat�r ar any less�e or ma.nagernent a�ent to maintain,pr�fe�sianal liability insurance <br /> tha�com�lies with the applicabl�requ�rements af HUI7. Annually, ��rr�wer sha�l prov�d�, or <br /> cause�per�.t�r or any le�see or mar�agement agent ta prQvidea to �TJD and�,�nder, a <br /> certifica�i�n of campiian�e with such pr�fessionall�ability insurance requirements as evidenced <br /> b�axa Acord or certified c�py of the insurance pol�cy. <br /> 29. PR�IPEI�.'�Y MANA��MEN7' AGREEMENTS. Zf, �n ac�ditio�to or i��ieu�f <br /> a.ny�B�rrower-�perator Agreement, �orrower enters in�� a property management agreem�nt�r <br /> ather do�ument outlirung proeedures for managing the H�a��hca.re Fac���ty("Managemen.t <br /> A�reement"�, such agreement�r document must be a�apro�ed by HUD and cons�stent with <br /> Pr�gram��l�gations. Any managem�nt agent must be approved b�HUD and must e�e�ut�and <br /> deliver a Maraagement Certification�f�rm HUI]-953�-�R�F, or su�ce�sar form] in such farrn as <br /> a�pro�ed by HLJD. Any Management Agreerrient shall contain the f��lowing provisions: �1� <br /> the Management Agreement sha��l terminate w�thou��enalty upon fai�ure to��mply with fihe <br /> prov�sions of Management Certificatian to HUD, or far other goad cause, including w�thout <br /> limitation for violati�ns of the Borrower's Regu�atory Agreement, �perator's Regulator� <br /> Agreement, andlor Mas�er Tenant's Regu�atory Agre�ment,if any,thir�y days after HUD has <br /> � mailed to Barrow�r,or C]perator, a�applicable, a written notice�f its desir�t�terminate th.e <br /> Management Agre�ment; �2��n th�event that H�.JD determines that any of the Permits and <br /> Approvais reasor�ably nec�ssary to operate the�iea�t�icare Facil�ty is at subs�antia�and imminent <br /> risk �f be�n�terminated, suspended or c�therwis�restr�ct�d, �f such�errninati�n, suspension or <br /> other restriction would ha�e a ma�er�ally adverse effect on th�Pr�ject,the Manag�ment <br /> Agreement shall�ermin�te immediately without penalty upori HUD's issuarace of a notice of <br /> termination to Borr�wer, �r�perator, as app�i�ab�e,and such management agent; and��}the <br /> Management Agreement may not�e assigned withaut the p�.or written appro�al of HUI). [Jpvn <br /> HUD's request far termination, Borrawer,ar�perator� as a�plicab�e, shall immedrate�y arrang� <br /> to t�rm�nate any such Management Agr�ement and sha11 make arrangements sat�sfa�t�ry to HUI] <br /> for the continuing pr�per management of the Healthcaxe Facili�y ax�d the Project. Any material <br /> amendment to the mar�agement agreem�nt must be acc�pta.bl�to HLJI], in ac�ardance with <br /> Pra�ram�b�iga�ians. <br /> 3D. ACCEPTABILI7'Y�F MANAGEMENT[��'THE M�RT�A�El3 <br /> PTl.[]PE1�TY. Borrower shal�pro��de rr�anagement�f the M�rtgaged Proper�y in a man�.�r <br /> cansi�tent with Program�b�iga���ns ar�d ac��ptable t�HUD. Borrower shall take such actions <br /> as shall cause the Pr�j�c�to confarm to Program ��li�at�ons. . <br /> 31. TERNIINATI�N �F �'�NTRACTS. Ex�ept as o�herwise permi�ted by HUD, <br /> any cantraGt pertain�ng ta the Proj ect with a vendor ha�ing a.n identity of in.terest�vith the <br /> Borra�tiver a.ndlnr�p�rator,as determ�ned by HUD pursuant to Pr�gram��Zigations, shall <br /> pro�ide: ��� in the ev�nt of a default u.r�der this Agreement, Master Tenant's Regutat�ry <br /> A�r�ement, vr the�peratar's Re�ulator�A�reement,the c�ntract shall be subje�t to termination <br /> w�thvut penalty and without cause upon wr�tt�n request by HUI], withYn thirty�3�� days notice <br /> of such termination; a,nd��� in the event that HUD determines that any of the Permits and <br /> Approva�s are at substantial and imminent risk of bein�terminated, suspended or atherwise <br /> restricted s� as t�ha�e a material adverse effect on the Proj ect, the �vntract shal�be subj e�t to <br /> terminatior�immediately w�thout p�naliy and without cause upon writt�n request by HUD. Upa�a <br /> Previous�ersions vbsolete Page 2❑of�S form HUa-9Z4SG�RCF�Rev.D31�3} <br />
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