Hobart Clause Samples

Hobart. Summerville and the Tenant acknowledge that the LaPorte and Niles Facilities are financed by a HUD-insured mortgage, and that Landlord intends to refinance the Hobart Facility by a HUD-insured mortgage under Section 232. Summerville and the Tenant agree to reasonably cooperate with Landlord in connection with this process, at no cost to Summerville or Tenant, and to sign the FHA certificate (disclosure of pending and anticipated Section 232 applications within 18-month period, per HUD Notice H 01-03) required for the Section 232 application for the refinancing of the Hobart Facility, without regard to any effect which such financing may have on other HUD/FHA financing of facilities operated by Summerville, the Tenant, or Affiliates thereof; provided, however, that in connection with the refinancing, Landlord shall cause the prospective Mortgagee of the HUD-insured loan, with all required authorization by HUD, to execute and deliver a SNDA to the Tenant of the Hobart Facility, prior to the granting of the new Mortgage.