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Attachment B (b) On the terms and conditions set forth in the Construction Continuing Covenant Agreement, the Funding Loan shall be originated and funded on the Delivery Date by the Initial Funding Lender and disbursed to the Fiscal Agent for deposit in the Project Account of the Project Loan Fund in the amount of $0 and the Refunding Fund in the amount of $4,346,852. Following the initial advance of the Funding Loan on the Delivery Date, advances of the Funding Loan shall be made on a draw-down basis. The remaining proceeds of the Funding Loan shall be advanced by the Initial Funding Lender in installments directly to the Fiscal Agent for deposit to the Project Account upon receipt of an Advance Request and the satisfaction of the conditions to such advance set forth in the Construction Continuing Covenant Agreement and the form of requisition attached as Exhibit E hereto. Upon the advancement of the proceeds of the Funding Loan in accordance with the terms hereof, the principal amount of the Governmental Note in a principal amount equal to the amount so advanced shall be deemed to be increased automatically and without further acts on the part of the Governmental Lender or the Fiscal Agent. The initial installment of the Funding Loan shall be in the amount of $4,346,852, representing the initial advance of the Funding Loan which amount shall be advanced by the Initial Funding Lender and deposited into the Project Account of the Project Loan Fund or the Refunding Fund in accordance with Sections 2.11 and 4.02 hereof. Notwithstanding anything in this Funding Loan Agreement to the contrary, no additional amounts of the Funding Loan may be drawn down and funded hereunder after the Advance Termination Date. Any extension of the Advance Termination Date shall be subject to the receipt by the Fiscal Agent of (i) the prior written consent of the Initial Funding Lender and Freddie Mac (each acting in its sole and absolute discretion) and (ii) an opinion of Bond Counsel (which shall also be addressed to the Funding Lender Representative) to the effect that such extension will not adversely affect the tax-exempt status of interest earned on the Governmental Note. (c) The Fiscal Agent shall maintain in its books a log which shall reflect the principal amount of the Governmental Note advanced by the Initial Funding Lender from time to time (i) in accordance with the provisions of subsection (b) above, or (ii) during the Construction Phase, with respect to interest due on the Funding Loan and other amounts due to the Initial Funding Lender, in accordance with the immediately following sentence (the Ð Record of Advances Ñ). The Initial Funding Lender shall give the Fiscal Agent notice of any advances made directly by the Initial Funding Lender as permitted under the Construction Continuing Covenant Agreement, and the Fiscal Agent shall enter the amounts of such advances in the Record of Advances. The principal amount due on the Governmental Note shall be only such amount as has been advanced by the Initial Funding Lender as reflected in the Record of Advances and not otherwise prepaid pursuant to the terms of this Funding Loan Agreement. The records maintained by the Fiscal Agent in such regard will be conclusive evidence of the principal amount of the Governmental Note (absent manifest error). The Fiscal Agent shall notify the Governmental Lender, the Freddie Mac Seller/Servicer, Freddie Mac, and the Borrower if any advance of the proceeds of the Funding Loan is not made by the Initial Funding Lender when due hereunder. (d) The Funding Loan shall bear interest and be payable on each Interest Payment Date at (i) the Construction Phase Interest Rate during the Construction Phase and (ii) the Permanent Phase Interest Rate during the Permanent Phase. Interest shall accrue on the principal amount of the Funding Loan which has been advanced hereunder and is outstanding as reflected on the Record of Advances. 17 12502516v3