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80A - HOUSING AND SUBORDINATION LOANS
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80A - HOUSING AND SUBORDINATION LOANS
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9/12/2019 6:11:12 PM
Creation date
9/12/2019 5:58:33 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
80A
Date
9/17/2019
Destruction Year
2024
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EXHIBIT 5 <br />APPENDIX I <br />(Appendix I - Definitions) <br />As used in the agreement to which this Appendix I Is attached, and as used In this Appendix I, the <br />following terms shall have the indicated meanings: <br />"Allocation Committee" shall mean the California Tax Credit Allocation Committee and any <br />successor governmental agency appointed to carry out the obligations of the Allocation Committee. <br />"Bank" shall mean MUFG Union Bank, N.A., acting in its capacity as holder of the Funding Loan <br />Note and as assignee of and agent for the Governmental Lender, pursuant to the Funding Loan Agreement, <br />Its successors and assigns. <br />"Borrower° shall mean Cornerstone Housing Partners LP, a California limited partnership. <br />"Borrower Loan" shall mean the ///[$17,250,000]/// construction and permanent loan to be made <br />by Governmental Lender to Borrower, pursuant to the Borrower Loan Agreement. <br />"Borrower Loan Agreement" shall mean the Construction and Permanent Loan Agreement <br />(Multifamily Housing Back to Back Loan Program) dated September 1, 2019, executed by Borrower, <br />Governmental Lender and Bank. <br />"Borrower Loan Documents" shall mean the Borrower Loan Agreement, the Borrower Note, the <br />Deed of Trust and all other documents evidencing, securing or pertaining to the Borrower Loan. <br />"Borrower Note" shall mean the Promissory Note (Multifamily Housing Back to Back Loan <br />Program) in the amount of ///[$17,250,000]//l dated September 1, 2019, executed by Borrower in favor of <br />Governmental Lender. <br />"Code(s)" shall mean the Internal Revenue Code of 1986, as amended from time to time, or the <br />corresponding provisions of any successor federal income lax law and, If applicable, the California Revenue <br />and Taxation Code, as amended from time to time, or the corresponding provisions of any successor state <br />Income tax law. Any reference to a particular provision of the Code(s) shall include any amendment of <br />such provision or the corresponding provision of any successor federal Income tax law or state Income tax <br />law. <br />"Deed of Trust" shall mean that certain Deed of Trust, Assignment of Rents, Security Agreement <br />and Fixture Filing (Construction Trust Deed) (Multifamily Housing Back to Back Loan Program) of even date <br />of the Borrower Note, executed by Borrower for the benefit of Governmental Lender and Bank and <br />encumbering the Property. <br />"Funding Loan Agreement" shall mean the Funding Loan Agreement between the Governmental <br />Lender and the Bank In connection with the Issuance of the Funding Loan Note. <br />"Funding Loan Note" shall mean that certain Governmental Lender Housing Revenue Note <br />(Cornerstone Apartments) 2019 Series A, executed by Governmental Lender In favor of Bank In the <br />principal amount of///[$17,250,000]N/. <br />"General Partner(s)" shall mean JHC-Cornerstone 11, LLC, a California limited liability company. <br />"Governmental Lender" shall mean the California Municipal Finance Authority, a joint exercise of <br />powers agency, duly organized and existing under the laws of the State of California. <br />4925.9439-0421v.3 0096250-000020 <br />80A-281 <br />
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