My WebLink
|
Help
|
About
|
Sign Out
Browse
201606436
LFImages
>
Deeds
>
Deeds By Year
>
2016
>
201606436
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
7/24/2017 3:45:33 PM
Creation date
9/29/2016 9:21:55 AM
Metadata
Fields
Template:
DEEDS
Inst Number
201606436
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
37
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
2� 1 ���43� <br /> money obl�gations, except as appraved by HUD. As of the date hereof, aIl co�trac�ua� <br /> obiigat�ons re�ating to the Proj ect�ave been fu��y d�sclosed to HUI]. <br /> 1�. PAYMENT S. B�rrower sha�l make promptiy a��payments, inc�uding any <br /> deposits to required reserves, due under the Lo�n Docum�nts, inc�uding without 1ir��tatian the <br /> N�te and the Barrower's Security Ins�rument. � <br /> 11. PR�PERTY AND �PERATI�N; EN�UMBRAN�ES. <br /> (a} Borro,wer shal� deposit al� receipts �f Borrower relat�ng ta the Pr�3ect inc�ud�ng <br /> al� R�nts, Advances, and equity or cap�ta� contributions required under the Firm �ommitment ar <br /> otherwise a�vanced for the�urp�se and as part of the Mortgaged Praperty, in the name of <br /> Borr�wer, for the benefit af th� Proj ect, in a federal�y �nsured d�pository ar depositor�es and in <br /> accordance with Pr�gram �bligations,provided that, in accordance With Program�biigations, <br /> an account held in ar�institution approved by the �overnment National Mortgage Association <br /> may have a balance that exceeds the amount to vvh�ch such dep�sit insurance is limited. Equity <br /> or capital contributions sha�l n�t includ� c�rtair� syndicati�n proceeds, su�h as pr�ceeds fram <br /> Low In�ome Housing Tax �redit transact�ons used t� repay br�dge �oans, all as mor� fully set <br /> forth in Program �biigations. Such funds sha11 be Withdrawn�n�y in a�cardance with the <br /> pr�visions �f this Agre�ment and Pr�gram �bligations. Any person ar entity r�ceiving <br /> Mortgaged Property or any ather proceeds �f the Proj ect other than for elxgxble purposes <br /> pursuant ta this Agreement sha�� immediately deliver su�h Mortgaged Praperty or other proceeds <br /> ta BorroWer f�r the benefit�f th� Proj ect and failing s� t� d� shall hold and be deem�d ta hold <br /> such Mortgaged Property �n trust for the benefit �f the Proj�ct. <br /> �b} B�rrawer shal�not engag� in any business �r acti�ity, including the operation of <br /> any other proj e�t or other healthcare facility, �r other anci��ary business�s, or incur any �xability <br /> or obligation not in c�nnect�on with the Proj ect. Borr�wer sha1� not acquire an Affiliate or <br /> contract to enter into any affiliat�on w�th any party, e�cept as appr�ved by HUI]. <br /> �c} Borrow�r sha11 immediately satisf� ar obtain a release of any mechanic's lzen, <br /> attachment,j udgment lien, or any other lien that attach�s to the Mortgaged Prop�rty, except to <br /> th� ext�nt permitted by HUD. <br /> �d� Pena�t�es, inc�uding but not 1im�ted to delinquent tax penaities, shall not be paid <br /> from the M�rtgaged Property except to the extent such payments ar� consid�red Distributi�ns <br /> and are al�avved pursuant to this Agreement. <br /> (e� Borr�wer sha11 promptly notify HUI] of the appointment of any receiver for the <br /> Pr�j ect, th� f�ling af a pet�ti�n in bankruptcy�r insolvency or for reorganization, as wei� as the <br /> retention af any att�rneys, c�nsultants or other pr�fessionals in anticipation�f such an <br /> appointment or f�ling. <br /> Previous versions o�sofete �'ag�8 of 36 farm HUa-9�4�6-DRGF ��612�14} <br />
The URL can be used to link to this page
Your browser does not support the video tag.