(a) The borrower shall fully equip the facility and shall maintain the equipment so as to provide for continuous efficient operation of the facility and adequate service to the patients. Equipment included in the contract shall not be acquired by installment contract or lease.

(b) The borrower shall submit for review and approval a detailed list, description and estimated cost of all equipment to be installed or placed in the facility. Accompanying such list, description and estimated cost shall be Certificates of Need or Exemption where required.

(c) Where equipment, not included in the project is acquired by the facility at a date subsequent to the closing by installment contract or lease, such equipment contract must be approved by the Office and shall not prohibit assignment of the contract in the event of default or insolvency of the original purchaser.