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201406184
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Last modified
7/20/2017 8:58:53 PM
Creation date
9/29/2014 12:58:31 PM
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DEEDS
Inst Number
201406184
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��14��154 <br /> Z�14���37 <br /> determine is r�ec�ssa,ry tv correct the �io�ation for so l�ng as, HUD <br /> determines, in its r�asanable discret�o�n, that: ��� Bonvwer is t�mely <br /> sa�ti�fy�ng a11 payrnent obligatxons in the Loan Documents; (ii�none�f the <br /> Permits or Approvals is at substa.nt�al. and, imminent risk of be�n� <br /> terminat�d; ��i�)such��ol�tion canr�ot reasonab�y be eorrected during such <br /> thirty�34)day per��ds�aut can�easonably be C�rrec��d in a t�mely manner, <br /> and {��� Master Tenant comm�nces �� �orrect sueh vio�ation durin� such <br /> thir�y �3�� day peri�d and thereafter diligen�iy and continuously pro�eeds <br /> to��rrect such violation,or cause such��rre�ti�e action ta be commenced <br /> and d��xg�n�Iy pursued. If upon the exp�rat�on af such cure per�od, the <br /> vi��ation is nat cured ta HUD's satisfaction, HUD may, vrri�hvut fi�r�her <br /> natice, declare an Event �f Defauit. U�r� declaring an E�ent of Defau�t, <br /> HUI�may: <br /> �. Term��a�e, or�ause th�terminativn vf,the Mast�r Lease, seek the <br /> appoin�rnent of a re�e�v�r far the�iealthcare Facility,terminat�any <br /> Bo�rower--��rafi�r Agr�ement, andlor require the Master Tenant <br /> tc� immed�ate�y procure a replacement operator �including an <br /> it�terim upera#�or where appropriate);an�lvr <br /> 2. Apply to any cnurt, state or f�et-a.l, for s�ecif c �erf�rmance of <br /> this Agreement, for ar� �nj unet�an agaxnst ari� violati�n of the <br /> A�reement,ar f�r�u�h u#her relief as rr�ay be appropriat�. <br /> Ngtwithstanding any other provision� of this agreement, if I�UD <br /> determines at any time that any of th� Permits and Appro�als are at <br /> � substantia�ar�d imminent r��k of beir�g terminated, suspended or�therwise <br /> restricted, if such term�nation,.suspension, or other restr��tivn w�u��have <br /> a materially ad�erse ef�ect an the Project, including with�ut limitatian, <br /> �IUD's de�ermination th�t there is a substan.ttal risk that deficienc�e� <br /> identified by applicabl� 5tate andl�r f�ieral r�gulatory a.ndlar funding <br /> agencies cannot be cured in such manner and�ithin such tim� periods as <br /> would a�o�d th� �oss, suspension, �r dirn�utian af any Pernut� and <br /> ApproWals that would have a materially ad�erse effect an th�Projec�,or if <br /> HUD determ�n�s at any time that the hea�th and safety of�he resid�nts c�f <br /> the Healtheare Faci�ity are at substaratial and imminent �isk, th�n HUD � <br /> may immed.iate�}�(without thirty(34} day�notice} declare a defau�t under <br /> this Ag�eement and rnay imm�d�ate�y praceed ta take action.s pursuant tv <br /> su�asectior�s ta}(1}andlor(a)���above. <br /> �b� Master T�nant acknowledges that the viab�e operation of the Health�a�re <br /> Facility, and thus the preservatian of the security far th� �orrawer's <br /> 5ecurity Instrument, depends upon t�mely satisfact��n of debts incurred <br /> related to the operati�n vf th� H�althcar� Fac��ity. In adc�it�an to ful�y <br /> complying with any payment o��ig;ations in the Mast�r Lea.se, 1V�aster <br /> Tenant shall timely pay [or cause 4perator t� p�y� a�I debts ir�curred <br /> related ta the operation of the Health�are Facili�y, provided, Ma�ter <br /> Previous versians obsolete Page T o#14 �arm HUD-92337�RCF�Re�.�3113�} <br />
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