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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 ....................................................................................... 10 <br /> 1.4 Exhibits Incorporated .................................................................................................. 10 <br />2. [RESERVED] .......................................................................................................................... 10 <br />3. SCOPE OF WORK/ PROJECT BUDGET ............................................................................. 10 <br />4. [RESERVED] .......................................................................................................................... 10 <br />5. LOANS : ................................................................................................................................... 10 <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. CONDITIONS TO DISBURSEMENT OF LOAN PROCEEDS ........................................... 12 <br /> 6.1 Conditions Precedent .................................................................................................. 12 <br /> 6.2 Disbursement Procedures for Loans ........................................................................... 13 <br /> 6.3 First Disbursement ...................................................................................................... 14 <br /> 6.4 Termination for Failure of Condition .......................................................................... 14 <br /> 6,5 Any Disbursement ....................................................................................................... 14 <br /> 6,6 Final Disbursement ..................................................................................................... 14 <br /> 6.7 Waiver of Conditions .................................................................................................. 15 <br /> 6.8 Disbursement Requests ............................................................................................... 15 <br /> 6.9 Manner of Disbursement ............................................................................................. 15 <br /> 6.10 Cost Overruns .............................................................................................................. 16 <br /> 6.11 Cost Savings ................................................................................................................ 16 <br /> 6.12 Retainage ..................................................................................................................... 16 <br /> 6.13 Waiver of Disbursement Conditions ........................................................................... 17 <br /> 6.14 Modification of Disbursement Conditions and Procedures ........................................ 17 <br /> 6.15 Closing Costs and Fees ............................................................................................... 17 <br />7. AFFORDABILITY REQUIREMENTS, USE AND MAINTENANCE OF THE PROPERTYI7 <br />7.1 Use Covenants and Restrictions ..................................................................................17 <br />7.2 Affordable Gross Starting Rents (Less Reasonable Utility Allowance) .....................18 <br />7.3 Rental Vouchers ..........................................................................................................19 <br />7.4 Rent Increases .............................................................................................................20 <br />8. [RESERVED.] .........................................................................................................................20 <br />9. GENERAL PROVISIONS AND WARRANTIES .................................................................20 <br />9.1 Formation, Qualification and Compliance ..................................................................20 <br />9.2 Execution and Performance of Loan Documents .......................................................20 <br />9.3 Financial and Other Information .................................................................................21 <br />9.4 No Material Adverse Change ......................................................................................21 <br />1 <br />DOCSOC/1475221 v5/200272-0004 <br />