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2� 1 ���438
<br /> "Re�idential Agre�ment" means a�ease, adr��ss�on agreement or�ther resident agreement
<br /> b�tween�perat�r and a resident setting for�h t�i�terms of the resid�nt's living.arrangements and
<br /> the provisi�r�af any related services.
<br /> Z. SUB�RDI�ATI�N. Any Borrower-�peratar Agreerr�ent sha�� be subj ect and
<br /> subord�nate to th�s Agreerr�er�t, the B�rrowe�'s Security Instrument,the �perator's Secur�ty.
<br /> Agreement, �.nd the Barrower's Regulat�ry Agreement. ��erator sha1l make payments und�r
<br /> any Borrower-�peratar Agreement when due. If ar�d fnr so long as paym�nt� by �perator to
<br /> Borrawer, �nc�uding without lir�itati�n any rent due pursuant to an�perator Lease, are re�}uired
<br /> pursuant to a Borrower--�perator Agreement, such payments shal� be suff cient to a11aw
<br /> Borrower t�pay aIl BorroW�r's required mortgage loan payments, including w�t�out 1�mitation,
<br /> any payments to reserves or�scrows f�r ta�es or insurar�ce, payments t� replacement reserves,
<br /> payments to debt service reser�es andlor escrows, and to fund any maintenance andlor repairs for
<br /> which Borrower has respons�bility.
<br /> 3. APPR�VED USE; PERMITS AND APPR�VALS.
<br /> (a� As used herein, "Apprv�ed Use" mea.r�s the use of the Project for the operat�on of
<br /> the Healthcare Faci�ity as an Ass�sted Livin� Facility wxth tw�nty-seven_�27, beds and such other
<br /> uses as may be approved in wr�ting from time ta time by HUD based upon a request made by
<br /> Barr�Wer or�perator, but excluding any uses that are d�scantinued wxth the written appr�val of
<br /> HUD. �peratar sha�1 operat�the Hea�thcare Facility in accordance with the Approved Use.
<br /> �b} As used herein, "Permits and Appro�aXs" means and includes ali cert�f�cates �f
<br /> need, bed authority, provider agreements, li�enses, permits and approvais reasonably necessary
<br /> ta operate the Healthcare Faci�ity or to fund the ap�ration of the Proj ect f�r th� Approved Use.
<br /> The security�nterests granted pursuant to the �perator's Security Agreement referred to �n
<br /> Section 21 hereof sha11 canst�tute,to the �xtent permitted by 1aw, a f�rst lien upon all of
<br /> �perator's rights, titles and interest, if any, in the Perm�ts and Appr�vals. However, in the event
<br /> of either a monetary or other default under this Agreement, th� Borr�wer's Regulatary
<br /> Agreement, any other regu�atory agreement made for the benefit of HUD r�Iat�ng to the Praj ect,
<br /> or any n�te or security instrument With respect ta the Proj ect that is �nsured �r he�d by HUI�,
<br /> �perator sha�l caoperate in any Iegal and lawful manner necessary or required to permit the
<br /> cont�nued operat�on of the Hea�thcare Facil�ty for the Appr�ved Use inc�ud�ng, as determined by
<br /> HUD, in cansultation with Lender, the necessary conveyanc�, assignment or transfer of the
<br /> Permits and Approva�s. For the intents and purposes herein, �perat�r her�by irrevoca�iy
<br /> naminates and appaints HUD, and with HUD's prior written approval, Lender, and the
<br /> respective successors and assigns �f each in its �wn capacity, as �perator's att�rney-in-fact
<br /> coupled with an interest t� do ali things that any such attorney-in-fact deems to be n�cessary or
<br /> appr�priate in order t� faci��tate the continued operation af the Healthcare Facility for the
<br /> Approved Us�, inc�uding but not Iimited to the power an.d author�ty to provide any and all
<br /> information and data, pay such fees as may be r�quired, and execute and s�gn in the name of
<br /> �perat�r, its successors or assigns, any and a11 documents, as may be required by any
<br /> governmental entity exercising jurisdiction over the Project. �peratar sha�l nat a�ter or
<br /> t�rminate, or suffer or permit the alterati�n, r���nquishment or terminat�on of any af the Perm�ts
<br /> and Approva�s that are issued or held in the name of�p�rator without the prior written consent
<br /> Previous versions obsol�te Page 4 form H U D-924�fiA-�RCF �Re�. �CI���4}
<br /> Re�laces H U a-9�46�-N HL
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