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TABLE OF CONTENTS <br />Page <br />1. DEFINITIONS AND INTERPRETATION ..............................................................................2 <br /> 1.1 Defined Terms ...............................................................................................................2 <br /> 1.2 Singular and Plural Terms ...........................................................................................10 <br /> 1.3 References and Other Terms ..... <br />10 <br /> 1.4 .................................................................................. <br />Exhibits Incorporated <br /> ..................................................................................................10 <br />2. [RESERVED] .................................................. <br />10 <br /> ........................................................................ <br />3. SCOPE OF WORK/ PROJECT BUDGET .............................................................................10 <br />4. [RESERVED] .................................................. <br />10 <br /> ........................................................................ <br />5. LOA NS: ................ <br />1 <br /> ................................................................................................................... <br />0 <br /> 5.1 City/HOME Loan ........................................................................................................10 <br /> 5.2 Agency Loan ...............................................................................................................11 <br /> 5.3 Other Terms and Conditions of the Loans ..................................................................11 <br />6. CON DITIONS TO DISBURSEMENT OF LOAN PROCEEDS ...........................................12 <br /> 6.1 Conditions Precedent .................................................... <br />12 <br /> 6.2 .............................................. <br />Disbursement Procedures for Loans <br /> <br />6 <br />3 ...........................................................................13 <br />First Disbursement <br /> . <br />6.4 ......................................................................................................14 <br />Termination for Failure of Condition <br /> <br />6.5 ..........................................................................14 <br />Any Disbursement <br /> <br />6 <br />6 .......................................................................................................14 <br />Final Disbursement <br /> . <br />6.7 .....................................................................................................14 <br />Waiver of Conditions <br /> <br />6.8 ..................................................................................................15 <br />Disbursement Requests <br /> <br />6 <br />9 ...............................................................................................15 <br />Manner of Disbursement <br /> . <br />6 <br />10 .............................................................................................15 <br />Cost Overruns <br /> . <br />6.11 ..............................................................................................................16 <br />Cost Savings <br /> <br />6.12 ................................................................................................................16 <br />Retainage . <br /> <br />6.13 ....................................................................................................................16 <br />Waiver of Disbursement Conditions <br /> <br />6 <br />14 ...........................................................................17 <br />Modification of Disburseme <br />t C <br />diti <br />d P <br /> . n <br />on <br />ons an <br />rocedures ........................................17 <br /> 6.15 Closing Costs and Fees ............................ <br />17 <br /> ................................................................... <br />7. AFFORDABILITY REQUIREMENTS, USE AND MAINTENANCE OF THE PROPERTY17 <br /> 7.1 Use Covenants and Restrictions ............................................ <br />17 <br /> 7.2 ...................................... <br />Affordable Gross Starting Rents (Less Reasonable Utility Allowance) .....................18 <br /> 7.3 Rental Vouchers ...................................................................... <br />19 <br /> 7.4 .................................... <br />Rent Increases <br /> .............................................................................................................20 <br />8. [RESERVED.] ............ <br /> .............................................................................................................20 <br />9. GENERAL PROVISIONS AND WARRANTIES ............. <br />20 <br /> .................................................... <br /> 9.1 Formation, Qualification and Compliance .................................... <br />20 <br /> 9.2 .............................. <br />Execution and Performance of Loan Documents <br /> .......................................................20 <br /> 9.3 Financial and Other Information .................................................................................21 <br /> 9.4 No Material Adverse Change <br /> ......................................................................................21 <br />i <br />DOC SOC/ 1475221 v5/200272-0004 <br />8OB-10