FHA Project No Clause Samples

FHA Project No. 26 27 Project Location: 28 29 Lender: 30 31 Original Principal Amount of Note: Date of Note: 32 33 Originally endorsed for insurance under Section 34 35 This Supplemental Healthcare Regulatory Agreement – Operator (this “Agreement”) is 36 entered into this day of , 20 , between , a organized 37 and existing under the laws of , whose address is , its 38 successors, heirs, and assigns (jointly and severally) (“Operator”) and the U.S. Department of 39 Housing and Urban Development, acting by and through the Secretary, his or her successors, 40 assigns or designates (“HUD”). If Operator is also ▇▇▇▇▇▇▇▇, references to “Borrower” herein 41 shall refer to Operator and the Borrower’s Regulatory Agreement, as defined below, is 42 incorporated herein by this reference.

FHA Project No. 25 26 Project Location: 28 Lender: 29

FHA Project No. 25 26 Project Location: 27 28 Lender: 29 30 Original Principal Amount of Note: Date of Note: 31 32 Originally endorsed for insurance under Section 34 Borrower: Profit-Motivated Non-Profit 35 Is Non-Profit Borrower permitted to take Distributions? Yes No 36 (Failure to check the appropriate space(s) shall not affect the enforceability or application 37 of this Agreement.) 38 This Supplemental Healthcare Regulatory Agreement – Borrower (this “Agreement”) is 39 entered into this day of , 20 , between , a organized 40 and existing under the laws of , whose address is , its successors, heirs, 41 and assigns (jointly and severally) (“Borrower”) and the U.S. Department of Housing and Urban 42 Development, acting by and through the Secretary, his or her successors, assigns or designates 43 (“HUD”). ▇▇▇▇▇▇▇▇ is sometimes also referred to as “Owner” or “Mortgagor” in the Loan 44 Documents and Program Obligations. If Borrower is also Operator, references in this Agreement 45 to Operator refer to Borrower. To the extent that Borrower contracts with any other party to 46 perform any functions included in this Agreement, Borrower shall maintain ultimate 47 responsibility for performance of all required functions included herein. 48 In consideration of, and in exchange for an action by HUD, HUD and ▇▇▇▇▇▇▇▇ agree to 49 the terms of this Agreement. The HUD action may be one of the following: HUD’s 50 endorsement for insurance of the Note, HUD’s consent to the transfer of any of the Mortgaged 51 Property, HUD’s sale and conveyance of any of the Mortgaged Property, or HUD’s consent to 52 other actions related to Borrower, the Project, or to the Mortgaged Property. 53 Borrower and HUD execute this Agreement in order to comply with Program 54 Obligations, with the requirements of the National Housing Act, as amended, and the regulations 55 adopted by HUD pursuant thereto. This Agreement shall continue during such period of time as 56 HUD shall be the owner, holder, or insurer of the Note. Upon satisfaction of the Note, as 57 evidenced by the discharge or release of the Borrower Security Instrument, this Agreement shall 58 automatically terminate. However, Borrower shall be responsible for any violations of this 59 Agreement which occurred prior to termination.