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201606436
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Last modified
7/24/2017 3:45:33 PM
Creation date
9/29/2016 9:21:55 AM
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DEEDS
Inst Number
201606436
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2� 1 ���43� <br /> rulemak�ng shal�become effect�ve only upon cann�p�et��n of the rulemaking pracess, ar�d ��} a�l <br /> current requirements in HUI]hanc�lao�ks and guides, notices, and m�rtgagee letters t�rat a���y to <br /> the Proj ect, and a�l future updates, changes and amendments thereto, as they beeome effective, <br /> except that changes subject t� notice and c�mmer�t rulema��ng shall become effec��ve ar��y upon <br /> c�mpletian of t�ie rulemaking process, and prov�c�ed that such future updates, changes ar�d <br /> amendments shall be app�icable to the Pr�ject only to t�ie extent that they �nterpret, cl�rify an� <br /> im��eme�t t�rms in th�s Agreement rather than ac�d or delete pravis�ons from such dacument. <br /> Handbooks, guides, notices, and mortgag�e letters are availab�e on HUD's �fficial webs�te: <br /> http:llwww.hud.��vloff�cesladmlhud.clipslindex.cfm�r a su�cessor 1�cation to tha� site. <br /> "Pr�j ect"has t�e rneaning set forth in the B�rrovver's Security Ir�strument. <br /> "Property Jurisd�ction" is any jurisdicti�n in vvhich th� Land is located. <br /> "Reas�nable �perating Expens�s" means expenses that arise fr�m the operation, ma�ntenance <br /> and r�utine repair of the Proj ect, including al�payments and dep�s�ts required under this <br /> Agreement and any of the Loan Documents, and comp�y with the r�qu�r�rnents of�4 C.F.R. <br /> 232.I��7, or successor regulation. <br /> "Rent," "Prof�ts" and "Income" sha�i �nclude: a11 r�nt due pursuant to any Master L�ase or <br /> �perator Lease; any payments due pursuant to any R�sid�ntial Agreem�nt; any other lease <br /> payments, revenues, charges, f�es and ass�stance payments arising from the operation of the <br /> Proj ect, inc�uding but not �imited to, if and for sa 1�r�g as applicable, commercial leases, <br /> w�rkers' compensation, socia� se�ur�ty, Medxcare, Medicaid, and other third-party <br /> r�imbursement payments, Acc�unts Rec��vabl� (as d�fned in the Borr�wer's Security <br /> Instrument} and aII payments and income arising fram the �perati�n of the Health�are Facility <br /> andlor the provis�on of servi�es t� residents thereof. <br /> "Reser-�e for Replacement" is def�ned in Section 13. <br /> "Residentia�Agreement" means a�ease or other resident agreement between the �peratar af th� <br /> Hea�thcare Facil�ty and a r�sident setting farth the terms of the resident's living arrangement and <br /> the provision of any related serv�ces. <br /> "Res�dual Re�eipts"means certain funds held hy a Non-Pr�fit Borrower which are restricted �n <br /> their use by this Agre�ment and Program �b�igations, and otherwise described in Section 17. <br /> "Surplus �ash" is d�f�ned iri Section 1 S. <br /> "Taxes"means a11 taxes, assessments, vault r�ntals and�ther charges, if any, general, spe�ia� or <br /> otherwise, inc�uding a�l assessments far schoo�s, public b�tterm�nts and general �r l�cal <br /> improvements, that are levied, assessed or imposed by any public authority or quasi-public <br /> authority, and that, if not paid, c�u1d l�ecome a lien�n the Land�r the Impr�vements. <br /> Pre�ious�ersions obsol�te Page 5 of 3� form HUD-9Z4S6-�RCF �D61��14} <br />
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