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201406137
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Last modified
7/20/2017 8:56:04 PM
Creation date
9/26/2014 2:33:17 PM
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DEEDS
Inst Number
201406137
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��14��137 <br /> Tenant andlar �perat�r may withh�ld payments of amounts due vendnrs <br /> for operational expenses that Master Tenant or �perator, �n good faith, <br /> � dispute. <br /> (c} In the event that Master Tenant receives a vvritten notice from HUD or <br /> Lender ti} stating that a default exists urader the Borrower's Regulatory <br /> Agreement, the BorroWer's Se�urity Instrument or ar�y note ar security <br /> instrument With respect to the Praj ect that is insured or held by HUI], a.nd <br /> (ii} direct�ng Master Tenant t� make future payments due under the Master <br /> Lease to HUD or Lender, Master Tenant shall thereafter make all future <br /> payments under the Master Lease to HUD or Lender as so directed. <br /> 6. TR.ANSFERS; �HAN�E IN C�NTR�L; MASTER LEASE�AMENDMENTS. <br /> �a} Without the prior Written consent af HUD, there shall be no �hange in or <br /> transfer of <br /> �i} th� management, operation, �r cantrol of the Proj ect or the <br /> Healthcare Facility, or <br /> �ii� any change in th� �wnership or �ontrol of th� Master Tenant as set <br /> forth in Program�bligations. <br /> �b� The Master Lease shal� not be t�rminated pri�r to the expiration date <br /> thereof or ass�gned w�thout the prior written approval of HUD. In the <br /> e�ent of any ass�gnment of the Master Lease, as a candition to such <br /> assignment, the assignee shall execute and del�v�r a regulatory agreement <br /> in form and substan�e satisfactory to HUI]. The Master Lease shall nat be <br /> amended Without the prior written approval �f HUD if such amendment <br /> . vvou�d (i} reduce the rent or �ther payments due thereunder, �ii} increase <br /> the �bligations of the Borr�wer ar the rights of the Master Tenant, (iii} <br /> decrease the rights of the Barrower or the nbligations of the Master <br /> Tenant, or ��v� alter any pr�visivn af the Master Lease that HUD required <br /> t� be inc�uded therein. �apies nf all amendments to the Master Lease shail <br /> be promptly furnished to HUI] and the Lender. <br /> . <br /> 7. MANA�EMENT A�REEMENTS. <br /> Na management agreement�s} may b� executed concerning the Healthcare <br /> Facility or any portion af the Proj ect �"Management Agreem�nt"}, unless such <br /> Management Agreement �s ap�ra�ed by HUI]. Any such Management <br /> Agreement shall cantain a provision that, in the e�ent HUD issues a.ny notice of <br /> violation or defauit under this Agreement, the �perat�r's Regulatory Agreement, <br /> or the Borrower's Regulat�ry Agreement, the Management Agreement(s} shall be <br /> subj ect to terminat�on without pena�t� upan wr�tten re�uest af HUD. Upon such <br /> request, Master T�nant shall immediately arrange to terminate the Manag�ment <br /> Previous versions vbsole#e Page 8 of'14 fQrm HUD-9�33?-�RCF�Re�.�31�3} <br />
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