Dec 102020
 

CONSIDERING: the hospital foundation board (i) the economic costs and benefits of the project, (ii) the application, including the attached feasibility study of February 12, 2016, carried out by Dixon Hughes Goodman LLP (the “feasibility study”), and (iii) the form of the HUD regulatory agreement and the required standard agreements attached to Schedule 1 of this resolution , and (iii) took into account its effects on the hospital. During his meeting with HUD, Jacobson learned that HUD was investigating YNM because HUD believed that the partnership money had been transferred to another account, while the hud note was in default, in violation of the HUD regulatory agreement, which is an integral part of HUD`s loan documents. Wendell Jacobson, individually and as the exclusive representative of each MSI defendant, stated at the closing – after a personal meeting with HUD – that HUD had authorized the sale when he knew that a transfer of cash to YNM and huD`s lack of written authorization to transfer the property constituted violations of HUD`s regulatory agreement. The following provisions contain provisions that may expire automatically when the loan is no longer insured or is held by HUD: if one of the provisions of the organisational file is at odds with the terms of the HUD insurance note, the security instrument or the HUD regulatory agreement (“HUD loan documents”), the provisions of the HUD loan documents are checked. The real estate that is acquired applies subject to all the provisions of the HUD regulatory agreement.

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