Compliance with HUD Program Requirements and HUD Loan Documents. (a) Tenant agrees to comply with all applicable HUD Program Requirements and the HUD Loan Documents. Tenant further agrees that this Lease will be part of the collateral pledged by Landlord to Lender and HUD. Tenant agrees that it will not take any action which would violate any applicable HUD Program Requirements or any of the HUD Loan Documents. (b) In the event of any conflict between the terms and provisions of this Lease and any applicable HUD Program Requirements or the HUD Loan Documents, the HUD Program Requirements and HUD Loan Documents shall control in all respects. Landlord and Tenant agree that no provision of this Lease shall modify any obligation of Landlord or Tenant under the HUD Loan Documents. Landlord and Tenant acknowledge that HUD’s acceptance of this Lease in connection with the closing of the HUD Loan shall in no way constitute HUD’s consent to arrangements which are inconsistent with HUD Program Requirements. This Lease is subject to all HUD Program Requirements.
Appears in 3 contracts
Samples: Lease (Summit Healthcare REIT, Inc), Lease Agreement (Cornerstone Core Properties REIT, Inc.), Lease Agreement (Cornerstone Core Properties REIT, Inc.)
Compliance with HUD Program Requirements and HUD Loan Documents. (a) Tenant agrees to comply with all applicable HUD Program Requirements and the HUD Loan Documents. Tenant further agrees that this Lease will be part of the collateral pledged by Landlord to Lender and HUD. Tenant agrees that it will not take any action which would violate any applicable HUD Program Requirements or any of the HUD Loan Documents.
(b) In the event of any conflict between the terms and provisions of this Lease and any applicable HUD Program Requirements or the HUD Loan Documents, the HUD Program Requirements and HUD Loan Documents shall control in all respects. Landlord and Tenant agree that no provision of this Lease shall modify any obligation of Landlord or Tenant under the HUD Loan Documents. Landlord and Tenant acknowledge that HUD’s acceptance of this Lease in connection with the closing of the HUD Loan shall in no way constitute HUD’s consent to arrangements which are inconsistent with HUD Program Requirements. This Lease is subject to all HUD Program Requirements. If Landlord elects to obtain HUD financing, Landlord shall obtain HUD financing at Landlord’s sole expense.
Appears in 1 contract
Samples: Lease Agreement (Cornerstone Core Properties REIT, Inc.)
