4 - AMEND / RESTATE REGULATORY AMENDMENT_2018-12-18

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21 Borrower at the time the default or breach was alleged to have occurred and such Person shall remain liable for any and all damages occasioned thereby even after such Person ceases to be the Borrower. Notwithstanding the foregoing, each Borrower shall in any event comply with and be liable for all obligations of the Borrower hereunder during its period of ownership of the Project. Section 28. Regulatory Agreement As Replacement. The parties hereto acknowledge and agree that the provisions of this Regulatory Agreement amend and restate in full the provisions of the Original Regulatory Agreement (and the Prior Regulatory Agreement, which was amended, restated and superseded in full by the Original Regulatory Agreement). The parties hereto hereby agree that the provisions contained in this Regulatory Agreement shall supersede and replace in full the provisions of the Original Regulatory Agreement and such agreement shall have no further force or effect. Section 29. HUD Rider. The parties hereto acknowledge and agree that the terms and provisions of the HUD Rider annexed hereto is hereby incorporated into this Regulatory Agreement by this reference. The parties hereto hereby agree that if any of the provisions contained in this Regulatory Agreement conflicts with a provision of the HUD Rider, the provisions of the HUD Rider shall control. EXHIBIT 1 4-25