Management Agent’s Duties and Responsibilities <<Briefly describe the management agent’s duties and responsibilities (i.e., will the management agent control the operating accounts; contract for services; recruit, select or train employees; take responsibility for the management of the functional operation of the facility or the execution of the day-to-day policies of the facility; etc.). Also describe the nature of the management agent’s compensation and how it was calculated.>> Experience/Qualifications <<Provide a narrative description of experience and qualifications. Discussion should highlight direct experience and involvement in other HUD transactions. This section should clearly demonstrate the expertise to successfully manage the facility and meet the obligations of the management agreement.>> Credit History Report Date: <<within 60 days of submission>> Reporting Firm: Score: <<Provide an explanation of the credit score in terms of risk level (i.e., low, medium, or high). Also, if the score is evaluated numerically, explain what value the credit agency places on the score. >> Key Questions Yes No Does the credit report identify any material derogatory information not previously discussed? . Does the underwriter have any concerns related to their review of the credit report? <<For each “yes” answer above, provide a narrative discussion on the topic describing the risk and how it will be mitigated.>> Other Facilities Owned, Operated or Managed Key Questions Yes No Does the management agent own, operate, or manage any other facilities? . Do any of the other facilities have pending judgments; legal actions or suits; or, bankruptcy claims? N/A
(4) Excess unusual land improvement cost (5) Unpaid balance of special assessment (6) Sum of lines (1) through (5) $ Line a minus line b (6) $ The secondary sources are discussed in detail below in the Sources & Uses section of the narrative. Existing Indebtedness <<For a purchase, this section should be titled “Purchase Price” and the information below should be replaced by an appropriate narrative section describing the pertinent terms of the purchase transaction, generally including: purchase price, itemization of costs to be paid by seller, date of agreement and addendums, expiration date, date by which sale must occur, etc.>> <<Provide detailed breakdown of all existing debt(s) being included in requested mortgage amount below. Include similar detail on HUD-92264a-ORCF.>> Schedule of Debt to Refinance Lender Pay-off Amount $ $ $ Total: $ Key Questions Yes No Are there any debts on the borrower’s balance sheet or recorded against the property, other than the primary mortgage, that will survive closing? . Are any of the debts to be paid off less than 2 years old? (Refer to Program Guidance below.) Does the borrower have any identities of interest with any of the existing lenders or noteholders? (Refer to Program Guidance below.) Do any of the debts to be paid off have prepayment penalties or other significant cost associated with them? Is any of the existing debt cross-collateralized with other assets (pooled debt or master leased) or financed with a line of credit? (If yes, explain how you allocated the debt between the facilities cross-collateralized.) Are delinquent real estate taxes included as an eligible transaction cost? <<For each “yes” answer above, provide a narrative discussion on the topic describing the risk and how it will be mitigated. >>