|
2� 1 ���438
<br /> be subm�tted na �ater than sixty (��� days after the period covered by the r�ports, ex�ept f�r
<br /> reports re�ati�g to the final quarter of eac�i yeax, vvhich sha11 be s�bmitted no later t�an ninety
<br /> �9�� days afte��nd of the fiscal year. Such rep�rts are sub�ect to the sanctians containec�in 18
<br /> U.5.�. Sect�ons 1��1, 1�1�, and 1�I 2. �p�rat�r s�al� subm�t to HUD and Lender,
<br /> simu�tan�ous�y with any such repor�that d�rr�onstrates n.egative Healthcare Facility Wo�king
<br /> �ap�tal, a plan to restore pos�t�ve Hea�thcare Fa�cil�ty Working �apital.
<br /> �d} If�perator�or any direct or inc�irect principal of�perator} �s req��red to pr�vide
<br /> an audited financial statement to any lender, �perator shall simultaneous�y pravide copies of
<br /> such audited financial statements to HUD and Lender. If HUD has reason to b�lieve that
<br /> particular �perat�r-certified statements rnay be unreliab�e (for examp�e, indicate a���e1y
<br /> prohibited use of funds of the Proj ect}, or are presented in a manner that is �ncansi�tent with
<br /> Program �bligations, HUD may, on a case-by-case basis, r�qu�re auc��ted financia� statements
<br /> from �perat�r. Such audited f�nancial statements sha11 be certif�ed by an independent public
<br /> accauntant, at ��erator's expense, and delivered to HUD and Lend�r within ninety �9�} days
<br /> after HUD's notice to �perat�r requiring such statements.
<br /> �e} �onsistent with Program �bligations, �perator shall �btain, or cause ta be
<br /> obtained, contracts f�r goods, materials, supplies, and services �"�oads and S�r-�ices"} at costs,
<br /> amounts, and terms that do n�t e�ce�d reasonable and necessary �eve�s and those custamarily
<br /> paid in the vicin�ty of the Land for�o�ds and Serv�ces rece�ved. The purcha�e price �f Goads
<br /> and Services shall be based an quality, durabi�ity and scop� of W�rk. Reasonable �perating
<br /> Expenses do not include amounts pa�d for betterments as def�ned in the Proj�ct's jurisdiction or
<br /> improvements un�ess determined by HUD to be prudent and apprapriate. If the �perator is
<br /> acquxring �oods and Services whose costs exceed five percent �5%} of the gross ar�nua� revenue
<br /> af the Healthcare Faci�ity, �perator shall salic�t written cast estimates. ��eratar shall keep
<br /> copies �f all vvritten cost estimates ar�d contracts ar other instruments relating to the Project, al�
<br /> or any of which may be subj ect to inspection and examinat�on by HUD at the Healthcare Facility
<br /> or�ther mutually agr�eab�e �ocation.
<br /> (f� If a quarterlylyear-to-date f nancia� statement demonstrates negat�ve H�althcar�
<br /> Faci�ity W�rking �apital as defined by HUD, or if�perator fails to timely submrt such
<br /> statement, then untri a current quart�r�y, year-to-date financial statement demonstrates posit�ve
<br /> Healthcare Facility Worl�ing Capital or unt�� otherwise authorized by HUD, no funds derived
<br /> from �r in conriection,with the op�ration of the H�althcare Facil�ty may be d�stributed, advanced,
<br /> or�therwise used for any purpos� �ther than, as applicable, making payments due pursuant to
<br /> any B�rrower-�perator Agreemer�t andlor Master Lease �if any}, making payments required to
<br /> be made under the Loan Documents, making payments pursuant to any of the AR F�nancing
<br /> I]ocuments, and making payments for Goods and Ser�ices, prov�ded that payments far�oods
<br /> and Services sha11 be subject to the ��mitations set forth in subs�ction(e� above.
<br /> �g� At request of HUD, �perator shall give specific answers, satisfact�ry to HUD, to
<br /> questions posed from t�me to time relating to inc�me, assets, liab��ities, cantracts, �peration, and
<br /> c�nditi�n of the Healthcare Faci��ty, and sha�� pravide ta HUI� copies af a�l books, contracts,
<br /> records, documents and other papers relating to the H�althcare Facriity fram time to time as
<br /> HUD may request.
<br /> Previaus vers�ons obsolete Page 'I 3 form H U L7-924fi6A-�RCF �Rev. �6120�4}
<br /> Replaces HUD-924�6-NHL
<br />
|