(3) The HFA will enforce the Regulatory Agreement and take action against all mortgage debtors who breach its provisions. These actions may include a notice of default and a request to a court for the specific execution of the agreement. (7) Maintain complete books and records created exclusively for the project. This note demonstrates the Borrower`s obligation to the Department to repay funds lent to the Borrower by the Department to support the Borrower`s development of a rental housing project on California property by the Borrower, which is further described in the Trust Deed and Regulatory Agreement (the “Development”). Wendell Jacobson, individually and as the sole representative of each of MSI`s defendants, concluded YNM after a face-to-face meeting with LE HUD that huD had approved the sale when it knew that a transfer of money to YNM and the failure to obtain HUD`s written permission to transfer ownership of the property constituted violations of the HUD regulatory agreement. CONSIDERING that the Board of Directors of the Hospital (i) the economic costs and benefits of the Project, (ii) the application, including, in particular, the attached feasibility study dated February 12, 2016 prepared by Dixon Hughes Goodman LLP (the “Feasibility Study”), and (iii) the form of the HUD Regulatory Agreement and the required standard provisions annexed to this Resolution as Exhibit 1, and its impact on the hospital. The Borrower may not make any sale, assignment, transfer or transfer in any other form of ownership or development or any part thereof or any of its interests therein, except in accordance with the terms of the trust deed and regulatory agreement and with the prior written consent of the Ministry. (4) Continue to use the residential units for their original purposes. (8) Adhere to the Affirmative Fair Housing Marketing Plan and all other fair housing and equal opportunity requirements. The borrower agrees to make additional payments from the net cash flow for the repayment of the loan, as required by the Department under the terms of the regulatory agreement.
(5) Comply with all other requirements that may be set out by the HFA and set out in the Regulatory Agreement. (3) The project as affordable housing within the meaning of section 266 para. 5. During his meeting with huD, Jacobson learned that hud was investigating YNM because HUD believed the partnership money had been transferred to another account while the HUD rating was overdue, in violation of the HUD regulatory agreement, an essential part of the HUD loan documents. (11) Allow HUD officials or staff to inspect the project at the request of the Commissioner. (b) requirements. The regulatory agreement shall require the hypothecary debtor to comply with the provisions of this Part and shall require the hypothecary debtor, among other things: (1) to make all payments due under the hypothec and the obligation/obligation. 1. The HFA shall enter into a regulatory agreement in a verifiable form between the mortgage debtor and the HFA which is in force for the duration of the insured mortgage and bond or obligation. The regulatory agreement must include a description of the property. The regulatory agreement must be incorporated into the mortgage by reference and registered with the mortgage. Such an approved prepayment does not release the borrower from its obligations under the regulatory agreement.
(c) enforcement. The regulatory agreement is enforced by the HFA. The following provisions contain provisions that may be automatically terminated if the loan is no longer insured or held by HUD: If any of the provisions of the organizational documents conflict with the terms of the HUD insured rating, security instrument or HUD regulatory agreement (“HUD Loan Documents”), the provisions of the HUD Loan Documents will prevail. The Borrower agrees to pay the full amount of outstanding principal advanced under the Loan Documents, as well as any accrued but unpaid interest, on the occasion of the fifty-fifth (55th) anniversary of the registration of the Regulatory Agreement or at a later date, which may be approved in writing by the Department in its sole discretion (the “Maturity Date”). (2) If necessary, set up a degressive fund for future capital requirements. (10) Provide books and records with appropriate notice for HuD or GAO (General Accounting Office) examination. Properties located after the acquisition are subject to all provisions of the HUD regulatory agreement. 2. The regulatory agreement between the HFA and the mortgage debtor is binding on the mortgage debtor and all its successors and assigns, as well as the HFA and each of its successors in title, as long as the mortgage is insured by HUD or HUD holds an HFA bond issued as part of a claim under the insured mortgage. The HFA cannot transfer the regulatory agreement […].
