Date of Note. Originally endorsed for insurance under Section This Healthcare Regulatory Agreement – Operator (this “Agreement”) is entered into this _ _ day of __ __, 20_ _, between _ __, a ___ __ organized and existing under the laws of __ __, whose address is , its successors, heirs, and assigns (jointly and severally) (“Operator”) and the U.S. Department of Housing and Urban Development, acting by and through the Secretary, his or her successors, assigns or designates (“HUD”). If Operator is also Borrower, references to “Borrower” herein shall refer to Operator and the Borrower Regulatory Agreement, as defined below, is incorporated herein by this reference. [Use the following language when Operator is not the same legal entity as Borrower: In consideration of HUD’s consent to the Borrower-Operator Agreement, HUD and Operator agree to the terms of this Agreement.] HUD and Operator execute this Agreement in order to comply with Program Obligations, with the requirements of the National Housing Act, as amended, and the regulations adopted by HUD pursuant thereto. This Agreement shall continue during such period of time as HUD shall be the owner, holder, or insurer of the Note. Upon satisfaction of the Note, as evidenced by the discharge or release of the Borrower Security Instrument, this Agreement shall automatically terminate. However, Operator shall be responsible for any violations of this Agreement which occurred prior to termination. Violations of this Agreement or Program Obligations may subject Operator and other signatories hereto to adverse actions.
Date of Note. The Date of this Note shall be the date first written above.
Date of Note. Originally endorsed for insurance under Section Borrower: Profit-Motivated ___ Non-Profit /Public Entity___ (Failure to check the appropriate space(s) shall not affect the enforceability or application of this Agreement.) This Hospital Regulatory Agreement – Borrower (this “Agreement”) is entered into this _ ___ day of __ __, 20 , between __ ___, a __ __ organized and existing under the laws of _ __, whose address is __ __, its successors, heirs, and assigns (jointly and severally) (“Borrower”) and the U.S. Department of Housing and Urban Development, acting by and through the Secretary, his or her successors, assigns or designates (“HUD”). Borrower is sometimes also referred to as “Owner” or “Mortgagor” or “Hospital” in the Loan Documents and Program Obligations. To the extent that Borrower contracts with any other party to perform any functions included in this Agreement, Borrower shall maintain ultimate responsibility for performance of all required functions included herein. In consideration of, and in exchange for an action by HUD, HUD and Xxxxxxxx agree to the terms of this Agreement. The HUD action may be one of the following: HUD’s endorsement for insurance of the Note, HUD’s consent to the transfer of any of the Mortgaged Property, HUD’s sale and conveyance of any of the Mortgaged Property, or HUD’s consent to other actions related to Borrower, the Project, or to the Mortgaged Property. Borrower and HUD execute this Agreement in order to comply with Program Obligations, with the requirements of the National Housing Act, as amended, and the regulations adopted by HUD pursuant thereto. This Agreement shall continue during such period of time as HUD shall be the owner, holder, or insurer of the Note. Upon satisfaction of the Note, as evidenced by the discharge or release of the Borrower’s Security Instrument, this Agreement shall automatically terminate. However, Borrower shall be responsible for any violations of this Agreement which occurred prior to termination. Violation of this Agreement or Program Obligations may subject Borrower and other signatories hereto to adverse actions. Borrower and HUD covenant and agree as follows:
