507.01

Management, Operations, and Regulatory Compliance

Requirements

You must engage a third-party professional to analyze the Property'sProperty'sMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). management, operations, and regulatory compliance.

The third-party professional you select must have:

  • been in good standing for the past 5 years as a licensed administrator, licensed practical nurse, or registered nurse; and
  • at least 5 years of experience with
    • the operation of Seniors HousingSeniors HousingMultifamily residential rental property with any combination of Independent Living, Assisted Living, Alzheimer’s/Dementia Care, or Skilled Nursing units. PropertiesPropertiesMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). , and
    • regulatory matters affecting Seniors HousingSeniors HousingMultifamily residential rental property with any combination of Independent Living, Assisted Living, Alzheimer’s/Dementia Care, or Skilled Nursing units. PropertiesPropertiesMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). .

You must assess and summarize the information presented and conclusions reached by the third-party professional.