2020_0518_CCPacket - Laserfiche WebLink

Home

Attachment C ÐPrior NoteÑ means the Governmental LenderÓs Multifamily Housing Revenue Note (Twin Lakes Family Apartments Project) Series 2019, with an original issue date of November 25, 2019, in the original principal amount of $4,346,852. ÐProject Loan PaymentÑ means each payment of the Project Loan on each Project Loan Payment Date pursuant to the Project Note and this Project Loan Agreement. Ð Project Loan Payment Date Ñ means (A) the first day of each calendar month, commencing ___________ 1, 2020, or (B) any other date on which the Project Loan is prepaid or paid, whether at scheduled maturity or upon prepayment or acceleration of the maturity thereof; provided, however, that if a Project Loan Payment Date is not a Business Day, payment shall be made on the first Business Day following such Project Loan Payment Date. ÐProject Note Amortization Schedule Ñ means the Project Note Amortization Schedule to be attached as Schedule 1 to the Project Note on the Conversion Date. ÐServicing FeeÑ means, \[during the (i) Construction Phase, the fees payable to Greystone Servicing Company, LLC, as servicer under the Servicing Agreement (as defined in the Construction Continuing Covenant Agreement), and (ii)\] OR \[(i) during the Construction Phase, the fee payable to the Servicer in connection with the servicing of the Project Loan and the Funding Loan payable monthly in an amount equal to one twelfth of \[_______\]% of the outstanding principal balance of the Project Loan, computed on the basis of a \[360-day year of twelve (12) thirty (30) day months\], and (ii)\] Permanent Phase, the ordinary fee payable to the Servicer in connection with the servicing of the Project Loan and the Funding Loan payable monthly in an amount equal to one twelfth of 0.10% of the outstanding principal balance of the Project Loan, computed on the basis of a 360-day year \[consisting of twelve (12) thirty (30) day months\[ \[and the actual number of days elapsed.\]. ÐTaxesÑ means all taxes, water rents, sewer rents, assessments and other governmental or municipal or public or private dues, fees, charges and levies and any liens (including federal tax liens) which are or may be levied, imposed or assessed upon the Project or any part thereof, or upon any leases pertaining thereto, or upon the rents, issues, income or profits thereof, whether any or all of the aforementioned be levied directly or indirectly or as excise taxes or as income taxes. Section 1.02 Interpretation. Words of the masculine gender shall be deemed and construed to include correlative words of the feminine and neuter genders. Words importing the singular number shall include the plural number and vice versa unless the context shall otherwise indicate. Words importing persons include firms, partnerships, limited liability companies, joint ventures, associations and corporations. References to Articles, Sections and other subdivisions of this Project Loan Agreement are the Articles, sections and other subdivisions of this Project Loan Agreement as originally executed. 4 12502464v3