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2020_0518_CCPacket
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2020_0518_CCPacket
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1/7/2022 9:35:26 AM
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Roseville City Council
Document Type
Council Agenda/Packets
Meeting Date
5/18/2020
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Attachment B <br />with a copy to: FEDERAL HOME LOAN MORTGAGE <br />CORPORATION <br />8200 Jones Branch Drive, MS 210 <br />McLean, VA 22102 <br />Attention: Managing Associate General Counsel Î <br />Multifamily Legal Division <br />Email: joshua_schonfeld@freddiemac.com <br />Telephone: (703) 903-2000 <br /> <br />A duplicate copy of each notice or other communication given hereunder by any party to the <br />Servicer or during the Construction Phase, the Financial Monitor shall also be given to the Funding <br />Lender Representative and by any party to the Funding Lender Representative to the Servicer and <br />during the Construction Phase, the Financial Monitor. <br />The Fiscal Agent agrees to accept and act upon Electronic Notice of written instructions and/or <br />directions pursuant to this Funding Loan Agreement. <br />(b) The Fiscal Agent shall provide to the Funding Lender Representative, the Servicer, <br />and during the Construction Phase, the Financial Monitor (i) prompt notice of the occurrence of <br />any Event of Default pursuant to Section 6.01 hereof and (ii) any written information or other <br />written communication received by the Fiscal Agent hereunder within ten (10) Business Days of <br />receiving a written request from the Funding Lender Representative and the Servicer for any such <br />information or other communication. <br />Section 11.05 Funding Lender Representative. <br />(a) The Initial Funding Lender is the initial Funding Lender Representative with <br />respect to the Governmental Note. Upon the Conversion Date, the Freddie Mac Seller/Servicer <br />shall become the Funding Lender Representative and upon the Freddie Mac Purchase Date, <br />Freddie Mac shall become the Funding Lender Representative. The Funding Lender <br />Representative shall be entitled to all the rights and privileges of the Funding Lender hereunder <br />and under the other Financing Documents. <br />(b) The Funding Lender Representative may provide written notice to the Fiscal Agent <br />designating particular individuals or Persons authorized to execute any consent, waiver, approval, <br />direction or other instrument on behalf of the Funding Lender Representative, and such notice may <br />be amended or rescinded by the Funding Lender Representative at any time by subsequent written <br />notice. The Funding Lender Representative may be removed and a successor appointed by a <br />written notice in the form of Exhibit B hereto given by the Funding Lender to the Fiscal Agent, <br />the Governmental Lender, the Servicer, the Borrower, and during the Construction Phase, the <br />Financial Monitor. The removal and reappointment shall be effective immediately upon receipt <br />of such notice by the Fiscal Agent. The Funding Lender may appoint any Person to act as Funding <br />Lender Representative, including, without limitation, the Servicer, and during the Construction <br />Phase, the Financial Monitor. If, for any reason, a Funding Lender Representative resigns by <br />written notice provided to the Fiscal Agent, the Funding Lender, the Governmental Lender, the <br />Servicer, the Borrower, and during the Construction Phase, the Financial Monitor, all references <br />to Funding Lender Representative herein and in the other Financing Documents shall be deemed <br /> 62 <br />12502516v3 <br /> <br />
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