201406134 - Laserfiche WebLink

Browse

��14��134 but can r�asonab��be corrected in a time�y manner,and�iv� �orrow�r,Master Tenant, or �perator comm�nces t�correct such Violation, or cau�e such correction ta be commenced, during such thir�y�3��day per��d ai.nd thereafter diligently ar�d cor�tinuously pro�eeds to�orrect, or�ause Gorrection of, suc�Violat�on. If,after delivery�f such ViQlatian Noti�e and a�plicab�e cure per��d,th�Vi�lat�on is n�t corrected t�the satisfacti�n of HLTD,I�UD may declare a,n Event of Default under this Agreement Withou�further Notice. A�ternati�el�, if ne�essary i� . HUD's d��erm�nation to prate��he health and safety o��he tena.ra.ts or the financial or o�eratianal�iability�f the H�althcare Facilit�, HUD may declare an Ev�n��f Default at aray �ime during the ea�istenGe af a Violation witha�ut providing pr�or written natice of the Violativn. ��} Nr�twithstanding any c�ther provisions c�f this Agreement, if HUI] determines at any time that an�of the Permits and Approva�s are at subs�ar�tial and imminen�risk of being�erminated, suspended or�therwise r�stricted if such termination, susp�n�ion, or other restrictian would have a materially adverse effect on the Proj ect,in�lud�n�vvithvut�imitation, HUD's determination that there is a substa,ntial risk tha�deficiencies ident�fied b�appl�cabie stat�ar�.dlor fed��ral regulatary andlar funding agencies cannot be �ured�r�su�h mar�ner and within such time p�riods as would avoid the 1oss, suspensi�n, or diminutian of a.ny of the Permits and Appr��als that would ha�e a mater�ally ad�erse effect on the Project, or�f HUI]determines at any time that,as a result af a Vialatian,the�ralue of�he Mort�ag�d Property is at su�stantial and imminent risk af materia�adverse diminuti�n,then HUD may immedia�ely(without thirty �3�}days n��ice)declare an Event af Default of this Agreement and may irnmediat�ly proceed to take actions to pursue its remedie�. (�} Upon any declaration of an Ev�nt of I3�fault,HLJD may: �i� If HUD holds the Note,declare the whole�f the Indebtedness immediately du� ar�d payable ar�d then proceed with the f�reclosure of the Borr�wer's Security Instrument or otherw�se dispose of HL�I]'s interest in the Note and the Borra�wer's Security Instrument pursuant to Program�bligatio�s; �ii� If�he Note is nc�ti held by HUD, na�tify the ho�der vf the Note�f su�h d�fau�t and r�quir��he hold�r to declare a defauit und�r the Note and�he�orrower's Security Instrument,and the h��der after recei�in�such Noti�e and demand, shall d�clare the whole of the Indebtedness due and payal�le and�hereu�ao�proce�d with foreclosr�re of the B�rrower's Security Instru.�rient ar�d the��ercis� of other remedi�s ava��able t�Lender under the Loan I7acuments or at 1aw or equ�ty,or assign the Note and the Barrower's Security In�trument t�HUD as pra�ided ira Pragram�bligation�. Upon assigx�ment of the Note and the B�rrower's Security Instrumen.t t� HUI�, HUD may then proceed with the f�reclasure vf the Borrower's �e�urity Instrument�r otherwise dispase of HUD's znterest in the Note and the Borrawer's Security Instrument �ursuan�ta Program C)bligatxons; Pre�ious versians obsolete Page 24 af�S form HUD-924fi6�-�RGF�Rev.D3113}