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superseded in full by the Original Regulatory Agreement).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