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2� 1 ��43� �vi� The balance �f the Residual Rec�ipts accaunt remai�s equa� to n� less than six months of the Borrower's required debt service �inclu�ing.any m�rtgage �nsurance prem�um, es�row d�pasxt, reserve deposits, or any other payments required by B�rrovver pursuant t� the Loan I]ocuments}. - The Non-Prof�t Borrawer makin�I�istributi�ns must evidence, with appr�priat� documentation suffic�e�t f�r audit and HUI]monitor�ng purpases, compliance with each condition I�sted ab�ve at the txme such Distributian is made, and must re�ain such documentation in acc�rc�ance with Pr�gram �bligat�ons, f�r auc�it and HLJI] monit�ring purposes. 17. RESIDUAL RECEIPTS. (a} Any Non-Prof t Borrower shall establxsh and maintain a Residual Receipts account. Unless and until otherwise approved in writing by HUI], Residual Receipts and the Residual R�ce�pts a�count shall be restricted as set forth in this Sect��n 17. Within n�nety�g�} days after the end of the annua� or semi-annual fisca�peri�d for which Suxp�us �ash is calculated, Borrower sha�i deposit int� th� Residual R��eipts accaunt an amount equal to the excess, if any, of�� Surplus �ash as of the end of such fiscal peri�d o�er(i�}the amount of any p�rmitted Distributions therefrom. �b} Residual Receipts shall be deposited with Lender or in a safe and responsible depasitory designated by L�nder in accordance vvith Program �bligations. Residual Receipts shal� at a11 times r�main under the contr�l of Lender�r L�nder's designee, whether in the form af a cash deposit or invested in obligat�ons of, or fully guaranteed as to princ�pal by, th�United States of America or in such�ther�nvestments as may be a�lovved by HUI] and sha��be he�d in accaunts �nsured or guaranteed by a federa� agency and in a�cordance w�th Program �bligatians. �c} B orrow�r shall carry th� ba�ance in such accaunt on the f nancial records as a restricted asset. Residual Receipts shall be invested in accordance with Pr�gram �blxgatians, and any �nterest earned an the investment sha11 be depas�ted in the Residual Rece�pts account for use by the Proj ect in accordance with this S ection 17. �d} I]isbursements from such account sha11 only be made after cons�nt, in writing, of HUD, whxch may be given or withh�ld in its sole discretion, pr�vided that, if the Non-Profit Borr�wer has been p�rmitted to take Distribut�ons as �ndicat�d on the first page of th�s Agreement, then HUD shall apply the conditians enumerat�d in Secti�n 15(�� in grant�ng or withholding such consent. In the event af a notification of default under the terms of the Borrower's Security Instrument, pursuant to vvhich the Indebtedness has been accelerated, a written not�ficati�n by HUD to Borrower of a v�alatian of this Agreement or at such other times as det�rrnin�d solely by HUD, HUD may direct the application of the ba�ance in su�h account to the amount due an the Indebtedness as accelerated or for such other purpases as may be determ�ned solely by HUD. Pre��us versions absalete Page'13 of 36 form HU�-9�4fi�-�RCF��612�14}