201606438 - Laserfiche WebLink

Browse

2� 1 ��438 HUD, W�1� W1��1 ac�ept or rej ect the �or�sultant within three �3� Business I]ays�, hasec�upon t�i� review of the �ansultant's direct�y re�evant vvar�experience, eapac�ty, costs, and�t�ier re��vant factors. F�r purposes herein, any of t�ie fa��avving circumstan�es c�nst�tute a Proaect �perating Deficien�y: �i� �pe�ator fails ta make any payments pursuant ta any Borrower��perator Agreement, if su�h�ayment� are xntended to be usec�by Borrower t� make the required deht serv��e payments pursuant to the Loan Docum�nts and if such fa�lure, in HUD's s�le deterr�ination, has a materially adverse effect on the Praj ect; (�i� Debt service coverage, as calculated in accardance vvith HUD underwriting procedures, is b�low 1.4 f�r one quarter and if, upon request by HUD or lender, the aperator does not promptly pr�vide a plan that is acceptab�e to HUI]to �mprove financial operat�ans; ��ii} Centers for Medicare and Medicaid Services �"�MS"�, or any applicab�e or successor authority, �r its agent, issues a notice t� �p�rator of a denia� �f payments by CMS ��r a fiscal intermediary} far neW admissions at the Healthcare Facil�ty and either (1} HUD c�ncludes that the operat�r is not di��gently and adequateiy vvorking to address su�h denia� of payments or �2} despite operator effort such den�a� is not released w�thin one hundred tw�nty �12�� days; (iv} �MS, or its agent, designates the Hea�thcare Facility to be a"Spec�a� Focus Facil�ty" or another governmental author�ty has made an equ�valent designatian; �v) A n�tice is issued to �perator of a praposed denial, proposed refusal to issue, or proposed termination of the Permits and Appr�va�s for the Health�are Facility and either(1} HUD concludes that the operator is nat diligent�y and ad�quately w�rking to address the matter�r�� despite operatar effort that praposed denia�, proposed refusal t� issue �r praposed termination xs not resc�nded vvithin 12� days; or (vi} A second re�isit sur�ey is required as a result of failure to clear deficiencies cited in any survey or equ�valent examination by any applicab�e government authority. �b} Th� �onsultant shall revi�w the management of the Healthcare Facility ar�d, subject to app�icable legal requirements governi�g the confidentiality of patient records, hav� complete access to the Hea�thcare Fac��ity and its recards, off�es and fa�ri�t�es in arder t� carry �ut its duties under such engagement. �perator shall instruct �onsultant to prepare and del�ver to HUD, the Lender, and �perator a wr�tten report, in a f�rmat appraved by HUI], of the �onsu�tant's f�ndings and recommendat�ons related to the operati�na� andlor f�nancial deficiencies nated in HUD's written nat�ce t� ��erat�r, within thirty (3�} calendar days after its �ngagement. �c� �perator sha�l, within twenty (��} Business I3ays of receiving �onsultant's report, implement any and a�l reas�nab�e recommendations, as approved by HUD �n consultation with ��erator, Lender, and Bnrrower, made by the �onsultant to address any performance Pre�Eous versions obsolete Page 7 form HLJD-924fisA-�RCF�Re�. �61��4} Replaces HUD-92466-NHL