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201406142
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201406142
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Last modified
7/20/2017 8:56:30 PM
Creation date
9/26/2014 2:31:31 PM
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DEEDS
Inst Number
201406142
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��14��14� <br /> �c} "El�gible AR Loan" shall mean a loan or 1�ne of cred�t obta.ined by <br /> �perat�r from an Eligible AR Lender for the sole purpose of providing w�rking cap�tal f�r the <br /> operati�n of the H�a�thcare Facility and, with the appro�al of �-Ii1D and Secured Party, �ther <br /> healthcare facilities that are encumbered by mortgage loans insured or he�d by HUD, upon such <br /> t�rms as sat�sfactory to the Secured Party and appro�ed by HUI]. <br /> �d} "Event of Defau lt" sha�1 mean an E�ent of Default pursuant to the <br /> Security Agre�ment. . <br /> �e} "Government Payments" shall mean a payment from a go�ei-r�menta� <br /> entity and shall include, without limitation, paym�nts go�erned under the Social Se�urity Act �42 <br /> . <br /> U.S.C. §� 1395 et seq.�, 1riC�L1CIlI7� payments under Medicare, Medicaid and <br /> TRICAREICHAMPUS, and payments administered ar regulated by the �enters for Medicare <br /> and Medicaid Services of I]epartment of Hea�th and Human Services. <br /> ��} "�o�ernment Recei�ables A�counts" shall mean separate deposit <br /> account�s� into which only �overnmer�t Payments are deposit�d. <br /> �g} "Leases" shall mean present and future leases, subleases, licenses, <br /> cancessians or grants or other possessory interests, now or hereafter in farce, whether oral or <br /> written, co�ering or affecting the Health�are Fac�lity, ar any portion of the Healthcare Facility, <br /> and all modif cations, extensi�ns or renewals thereof, 1t1GIl,1C�lI7g W1t�7�Ut 11ri71tat1�I7 a�I R�51C�eI1�1�.� <br /> Agreem�nts. <br /> �h} "Rents" shall mean all rents, payments, and other benefits deri�ed due to <br /> �perator pursuant to the Leases. <br /> �i� "Pra�ider Agreem�nts" means any and all M�C�1Ca1L�., Medicare, <br /> TRI�AREICHAMPUS, or other go�ernmental insurance pro�ider agreements. <br /> (�} "Required Intercredit�r Agreement" means an Intercreditor Agr�ement <br /> executed by the S�cured Par�y, the Eligible AR Lend�r, �perator and Borrower, in form and <br /> substance satisfa�tory to �ecured Party and appro�ed by HUD. <br /> . �k� �`Res�dentia� Agreements" shall mean any lease or other agreement naw <br /> or hereafter entered into hetween �perator and any resider�t of the Healthcare Facility setting <br /> forth the t�rms of the resident's liv�ng arrangement andlor the pro�ision of ser�ices to the <br /> residents thereof. <br /> 2, Pro�isinns: <br /> �a} Any pra��sions of this Agreement sha11 be: [i} subject t�the rights af any <br /> Eligible AR Lender as set for�h in a Required Inter�reditnr Agreement, and (ii� granted to the <br /> fu�lest extent permitt�d by and nat in �i�lation of any applicable �aw �now enacted andlor <br /> hereafter amended} and any Pro�ider Agreements. <br /> �b} T� further secure the �bligat�ons, �perator pledges to Secured Party all <br /> of �peratar's rights, tit�e and int�rest ir�, to and under all Residential Agreements, any other <br /> . ..2_ <br />
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