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EXHIBIT B CONTINUATION OF REGULATORY REQUIREMENTS 19. If any new management agent, contractor, sponsor, or Owner entities or principals become involved in the project after endorsement, HUD 2530 forms must be submitted and approved by the Secretary for each. All changes or transfers of ownership after endorsement of the mortgage must include personal and corporate financial statements with FHA Form 2417 certifications, credit reports, and 2013 Supplement "Bank and Trade References." After initial endorsement of the Note, any future transfer of ownership interest in the project will be subject to review and approval by the Secretary. This would include a review of credit reports, bank and trade references, and current financial statements on any new owners. 20. Notwithstanding anything to the contrary set forth in Section 9(e) of this Agreement, the Owners shall have a period of ninety (90) days following the end of each fiscal year to provide Mortgagee with a complete annual financial report as outlined in Section 9(e) of this Agreement. 21. All licenses and operating permits must be owned by the Project and be subject to the mortgage. They must not be transferred without the written permission of the Secretary. 22. The following is hereby added to the end of Paragraph 6 of the Agreement: (i) Permit any conveyance, assignment, or transfer of any direct or indirect legal or beneficial interest in the Owners that requires approval of the Secretary under (i) the Secretary's transfer of physical assets requirements and procedures and/or (ii) the Secretary's previous participation approval requirements and procedures. (j) Enter into, or agree to the assignment of, any ground or commercial lease for all or part of the mortgaged property. (k) Enter into any amendment of any operating or commercial lease of all or any part of the mortgaged property that (i) reduces the rent or other payments due thereunder, (ii) increases the obligations of the Owners or the rights of the lessee, (iii) decreases the rights of the Owners or the obligations of the lessee, or (iv) alters any provision of such lease required by the Secretary to be included therein. 23. Notices sent pursuant to Paragraph 11 of the Agreement may be sent by registered or certified mail, hand delivery or by a nationally recognized overnight delivery service. 24. Owner shall lease the residential units so that forty -seven (47) units in the Project are occupied by at least one occupant who is an Elderly Person. [Signature Page to Follow] Replaces FHA -2466 which may be used until supply Page 9 of 10 exhausted 370937v1 SJB LN140 -25 Form HUD -92466 (11/2002) ref Handbook 4571.1