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2� 1 ��43� Th�s Hea�thcare Regulata�y Agreement—Borr�wer(this "Agreement"� �s entered into t��s 15�da �f Se tember 2�16, between �RAND ISLANI] C�LTNTRYH�USE, LL�, a limited liabi��ty company organizec�and exist�ng�nder the �a�s of the State of Wyom�ng, whose address is 25 Avenida De �rinda, �rinda, CA 94563, its succ�sso�s, heirs, and assigns �jointly and severaliy� �"Borr�wer"� and the U.S. I]epartm�nt o�Housing and Urban Deve�opment, act�ng by and thr�ugh t�e Secretary, his or h�r succ�ssors, ass�gns ar designates ("HUD"}. BorraW�r is sometimes also referred to as "�wner" or"Mortgag�r" in th�e Loan 17ocuments a.nd Program �bligatians. If Borrower is also ��e�ator, references in this Agreement t� �perat�r refer ta B�rrower. Ta the extent that B�rrower contracts with any �ther party t� �erf�rm any functions included in th�s Agre�ment, Borrower s�all maintain u�timate respansibility f�r performance of all requ�red functions included herein. - In cansid�rat�on of, and in exchange for an actxon by HUD, HUI] and Borr�wer agree to the terms of this Agreement. The HUI� action may be one of the fo�lovving: HUD's endorsem�nt for insurance �f the N�te, HUD's �onsent to the transfer�f any of the M�rtgaged Property, HUD's sa�e and conveyance af any of the Mortgaged Pr�perty, or HUD's consent t� other act��ns related to B orrawer, the Pr�j ect, or to the M�rtgaged Pr�per�y. B�rrovver and HUI] e�ecute this Agreement in�rder t� c�mply with Program �bligatians, with the requ�rements of the National Housing Act, as amended, and the regulations adopted by HUD pursuant thereto. This Agreement shall continue during such period�f time as HUD shal� be the ov�mer, holder, or insurer of the N�te. Upon satisfaction af the Nate, as evidenced by the discharge or release �f the B�rr�wer's Security Instrument, this Agreement sha11 automatically terminat�. How�ver, Barr�wer shall be responsible for any�io�atians of this Agreement which occurred prior to term�nation. Vi�lation of this Agreement�r Program �b�igations may subj ect B�rr�wer and�ther signatories hereto to adverse acti�ns. Borrower and HUD c�venant and agree as foi�o,ws: I. DEFINITI�NS. 1. DEFINITI�NS. Any capitalized term or word used herein but not defrned shal� have the meaning given to such term in the B�rr�wer's Secur�ty Instrument. The fallowing terms, vvhen used in th�s Agreement (including when used�n the ab�ve recitals�, shall have the fol�awing meanings, whether capitalized ar not and whether singular�r plural, ur��ess, �n the context, an in�ongruity resu�ts: "Af�liate" is defined in 24 �.F.R. 2��.��S, or any suc�essor regulatian. "Appro�ed Use" means the use of the Praject far the operation of the Heaithcare Facility as a an Assisted Living Facility With tvventy-seven (27� b�ds and such other uses as may be apprav�d in writing fr�m time to t�me by HUD based upon a request made by B�rrower or �perat�r, but excluding any uses that are discontinued with the written approva� af HUD. Previous versions obsolete �age 2 0#3S form HU�-9�4Sfi-�RCF �fl61��'�4}