Common use of Nonrecourse Debt Clause in Contracts

Nonrecourse Debt. The following individuals or entities identified in the Firm Commitment: Xxxxxxx XxXxxxx and AdCare Health Systems, Inc. as identified in the Firm Commitment does not assume personal liability for payments due under the Note and the Borrower’s Security Instrument, or for the payments to the Reserve for Replacement, or for matters not under its control, provided that each said individual or entity shall remain personally liable under this Agreement only with respect to the matters hereinafter stated; namely: (a) for funds or property of the Project coming into its hands which, by the provisions of this Agreement, it is not entitled to retain; (b) for authorizing the conveyance, assignment, transfer, pledge, encumbrance, or other disposition of the Mortgaged Property or any interest therein in violation of this Agreement without the prior written approval of HUD; and (c) for its own acts and deeds, or acts and deeds of others, which it has authorized in violation of the provisions of this Section. The obligations of the individuals or entities listed in this Section shall survive any foreclosure proceeding, any foreclosure sale, any delivery of any deed in lieu of foreclosure, any termination of this Agreement, and any release of record of the Borrower’s Security Instrument. {SEE ATTACHED COUNTERPART NON-RECOURSE RIDER TO REGULATORY AGREEMENT FOR MULTIFAMILY PROJECTS} ___________________ Individual/Entity ____________________ Individual/Entity Previous versions obsolete Page 24 of 29 form HUD-92466-ORCF (Rev. 06/2014)

Nonrecourse Debt. The following individuals or entities identified in the Firm Commitment: Xxxxxxx XxXxxxx [Insert names of such parties here; such parties must indicate acknowledgement and AdCare Health Systems, Inc. acceptance of this Section by executing below or in counterpart] as identified in the Firm Commitment does not assume personal liability for payments due under the Note and the Borrower’s Security Instrument, or for the payments to the Reserve for Replacement, or for matters not under its control, provided that each said individual or entity shall remain personally liable under this Agreement only with respect to the matters hereinafter stated; namely: (a) for funds or property of the Project coming into its hands which, by the provisions of this Agreement, it is not entitled to retain; (b) for authorizing the conveyance, assignment, transfer, pledge, encumbrance, or other disposition of the Mortgaged Property or any interest therein in violation of this Agreement without the prior written approval of HUD; and (c) for its own acts and deeds, or acts and deeds of others, which it has authorized in violation of the provisions of this Section. The obligations of the individuals or entities listed in this Section shall survive any foreclosure proceeding, any foreclosure sale, any delivery of any deed in lieu of foreclosure, any termination of this Agreement, and any release of record of the Borrower’s Security Instrument. {SEE ATTACHED COUNTERPART NON-RECOURSE RIDER TO REGULATORY AGREEMENT FOR MULTIFAMILY PROJECTS} ___ ________________ Individual/Entity [insert appropriate signature block indicating authorized individual executing document; signature may also be provided in counterpart.] Previous versions obsolete Page 28 of 33 form HUD-92466-ORCF (06/2014) ___ _________________ Individual/Entity ____________________ Individual/Entity Previous versions obsolete Page 24 of 29 form HUD-92466-ORCF (Rev. 06/2014)[insert appropriate signature block indicating authorized individual executing document; signature may also be provided in counterpart.]

Nonrecourse Debt. The following individuals or individuals/entities identified in the Firm Commitment: Xxxxxxx XxXxxxx and AdCare Health Systems, Inc. as identified in the “Firm Commitment does Commitment” (which means the commitment for insurance of advances or commitment for insurance upon completion issued to Lender by HUD under which the debt evidenced by the Note is to be insured pursuant to a Section of the Act, dated _____): do not assume personal liability for payments due under the Note and the Borrower’s Security Instrument, or for the payments to the Reserve for ReplacementReplacements, or for matters not under its their control, provided that each said individual or entity individuals/entities shall remain personally liable under this Agreement only with respect to the matters hereinafter stated; namely: (a) for funds or property of the Project coming into its hands which, by the provisions of this Agreement, it is not entitled to retain; (b) for authorizing the conveyance, assignment, transfer, pledge, encumbrance, or other disposition of the Mortgaged Property or any interest therein in violation of this Agreement without the prior written approval of HUD; and (c) for its own acts and deeds, or acts and deeds of others, which it has authorized in violation of the provisions of this Sectionsection. The obligations of the individuals or individuals/entities listed in this Section paragraph shall survive any foreclosure proceeding, any foreclosure sale, any delivery of any deed in lieu of foreclosure, any termination of this Agreement, and any release of record of the this Borrower’s Security Instrument. {SEE ATTACHED COUNTERPART NON-RECOURSE RIDER TO REGULATORY AGREEMENT FOR MULTIFAMILY PROJECTS} ___________________ Individual/Entity Individual Title ____________________ Individual/Entity Previous versions obsolete Page 24 of 29 form HUD-92466-ORCF (Rev. 06/2014)Individual Title

Nonrecourse Debt. The following individuals or individuals/entities identified in the Firm Commitment: Xxxxxxx XxXxxxx and AdCare Health Systems, Inc. as identified in the “Firm Commitment does Commitment” (which means the commitment for insurance of advances or commitment for insurance upon completion issued to Lender by HUD under which the debt evidenced by the Note is to be insured pursuant to a Section of the Act, dated ): do not assume personal liability for payments due under the Note and the Borrower’s Security Instrument, or for the payments to the Reserve for ReplacementReplacements, or for matters not under its their control, provided that each said individual or entity individuals/entities shall remain personally liable under this Agreement only with respect to the matters hereinafter stated; namely: (a) for funds or property of the Project coming into its hands which, by the provisions of this Agreement, it is not entitled to retain; (b) for authorizing the conveyance, assignment, transfer, pledge, encumbrance, or other disposition of the Mortgaged Property or any interest therein in violation of this Agreement without the prior written approval of HUD; and (c) for its own acts and deeds, or acts and deeds of others, which it has authorized in violation of the provisions of this Sectionsection. The obligations of the individuals or individuals/entities listed in this Section paragraph shall survive any foreclosure proceeding, any foreclosure sale, any delivery of any deed in lieu of foreclosure, any termination of this Agreement, and any release of record of the this Borrower’s Security Instrument. {SEE ATTACHED COUNTERPART NON-RECOURSE RIDER TO REGULATORY AGREEMENT FOR MULTIFAMILY PROJECTS} ___________________ Individual/Entity ____________________ Individual/Entity Previous versions obsolete Page 24 of 29 form HUD-92466-ORCF (Rev. 06/2014)Individual Title Individual Title