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2� 1 ��43� reserves; and (2� a�l�of Barrower's �b�igations relatin�to the Proje�t�ther than those requ�red to be paid under the L�an I]ocuments, un�ess funds for suc�i payments have been set asic�e or deferment�f payment has been apprnved by HUD; and (ii} the segregation�f a�� amounts requ�red t� be he�d in trust (e.g., tenant security dep�sits} and al� amounts requ�red to be held (segregate�} in�ther restricted asset accounts �f the Project �e.g., Reserve for Repiacements} pursuant to this Agreement, the Loan Docum�nts and Pr�gram �b�igations. 16. DISTRIBUTI�NS. �a� Borr�wer may make and tal�e I]istributions of Mor�gaged Property, to the e�tent and as permitted by the law�f the applicahle jurisdiction, pursuant to the restrictions below, including without limitation the recanciliat��n requirements set forth in Section 15�d}; provided hawever that, �xcept as may be approved by HUD �r permitted under Program �l�ligations, or as �thervvise provided in this Agreement, I]istributi�ns of Mortgaged Property are prohibited for N�n�Profit Borr�wers. (b� I3istr�butions shall n�t be made: (i� from b�rrovv�d funds (unless the Borrovver is �perator and such Distribution is permxtted under the �perator's Regulatory Agreement and Program �bligations} �r prior ta the complet�on of the construction or �rehahilitat�on�f the Pr�ject; �ii� after HUD has g�ven written notic�to Borrower of a vio�ation or default under this Agreement andlar after Lender has given written n�tice t� Borrower�f a vioiation or default under any of the Loan D�cuments, and unti�the terms af such notices of v�o�ation ar default have been satisfied to the satisfaction of HUI� andlar Lender, as app��cab�e; (ii�} when BarroWer or th�Proj ect is und�r a forbearance agreement; �iv} If: (A� necessary s�rvices for the operati�n�f the Health�are Facility are not being provided on a regu�ar basis, which fai�ure Borrower knows or should have known ab�ut in the ex�rcise of due care; �B� written n�tices af necessary phys�cai repairs or deficiencies involving exigent or significant health or safety risks to res�d�nts in cor�n�ction with the Pr�j ect (including but not�imited to building code vi�lations} by ather ��ernmentai Autharities andlor by HUD have been issued and remain unresolved ta the sat�sfact�on of the �ssuing Governm�nta� Authority, �C} Borrower has been notified in writing by HLTI], Lender�r other �overnmental Authority that n�cessary phys�cal r�pairs andlor def�ci�ncies exist in conn�ctian with the Proj ect and Borrovver has not Pr�vious��rsions❑bsolete Page'�1 of 3S farm HUD-924Sfi-�RCF ��612��4}