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��14��154
<br /> Z�14��137
<br /> provid�d that neither the Bvrr�wer-�gerator A�reement nor Ma�ter I�ease �ha�l Ue cons�dered a
<br /> La�an D�cu.ment.
<br /> i`Master Lease" means that ��rtain Master I.�ase, relating to the leasing af, xnt�er �lia, the
<br /> Healthcare Facility by Borr�wer tc�Master Tenant.
<br /> "Master'�"enant S��uri#y Agr�ement"means that�ertain Master Tenant 5ecurity Agre�m�n�
<br /> dated�s of substantial�y even date h�rew�ith,relating to the Project,and made by Mast�x Tenant
<br /> to Lender. �
<br /> " p " � `., ,� �,_..,�,d liab��itv
<br /> erat�r means rand Isl�nd Bi�kford �o#ta�� �pcv, LL�, a Kansas limife,„,..,,,�„
<br /> campany,the aperatvr.af the Hea�thcare F�cility, pursuant to that certai�i Sublease A,g,reement,
<br /> .,, ,,,,,,,,,,,,,,,.�.�_,,,,,, ,,.. --
<br /> by and between�perator and Master Tenant.
<br /> �`�perator's Regu�atax-� Agreea�ent" means tha� certain Hea�thcare Regu�atory Agre�ment -
<br /> 4perarar,reiatin�ta the Praj ec�and entered in�o by���ratar for the ben�fit af HUD. �
<br /> "Pr�ject" means any and all ass�#s of wh�.te�er nature or wh�re�er situated related t� the Loar�
<br /> kn�wn by the FHA prvject number listed vn the first page of this Agreement, inc�uding without
<br /> 1im�tatic�n th�Mar�gaged Praperty, the H�a�th�are FaGi��ty,any Impra�ements,and any�vllatera�
<br /> �wned by t,he�peratvr securing the Loat�.
<br /> "Reason�►ble�perating E�penses" means expense�that arise frvm the o�ra�ion, maintenanc�
<br /> at�d rautine repaur of the Proj ect, �ncluding a11 payments and deposxts required under this
<br /> Agreement and at�y Loan Document, and c�mply with t�ie requirexnents vf�� �FR�3�.1�47,or
<br /> succ�ssor re�u�ation.
<br /> N�VL� THEREFt]RE, in cvn�iderati�n ❑f HUD's consent �v the �easing of the aforesaid
<br /> Hea.�thcare Faci�ity by Borrawer to Master Tenar�t and in order t� comply with the requirements
<br /> af the National Housing Act ax�d the Regulation..� adopted by HUD pursu�a�t theretox Master
<br /> Tenant �grees to the terms of�h�s Agreement f�r itself, its successors, h��rs and aS51�t1.5, �n
<br /> c�nnectian with the c��rati�n v�'the HealthGare Facility,the�Vlortgaged Prnperty,and�he Project
<br /> operated therean.
<br /> �. SUB�RDII�AT��N.
<br /> The Ma�ter Lease shal� be subject and subordinate to �his A�reement, th� Ma.�ter
<br /> Tenant Secuar�ty A�reement, the Borr�wer's Se�urity Instrum�nt, the Barrower's
<br /> Regulatory Agreement, and the C]perator'� Regulatory Agreement. Master
<br /> Ter�ant sha.�l make payments under the Master Lease when due, and such
<br /> payments sha11 be sufficient to a11�w Borrower to pay a11 Borruwer's required
<br /> Loan, payments, including without �imitation, any payments t� r�serv�es fo�r taxes
<br /> or inswrance, payments ta rep�acem�nt r�serves, payments ta debt serv�ce
<br /> resei-�res, and to fund ar�y rnaintenance andlor repairs far which the Barrower has
<br /> responsibility. I�at the end of any calendar year, ar any fiscal year if the Project
<br /> operates an the basis �f a f scal year, payments under the Master Lea.se ha�� not
<br /> been suff'ici�nt to pay f�r the aboWe items, the Borr�wer and Ma.ster Ten�nt upon
<br /> prev�aus versions obsolet� Page 3 of 1� form HUD-SZ33T�RCF��tev.�3J13y
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