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TABLE OF CONTENTS <br />Page <br />1. <br />DEFINITIONS AND INTERPRETATION ................................................ ..............................2 <br />1.1 <br />Defined Terms ................................................................................. ..............................2 <br />1.2 <br />Singular and Plural Terms .............................................................. .............................10 <br />1.3 <br />References and Other Terms <br />1.4 <br />.......................................................... .............................10 <br />Exhibits Incorporated <br />..................................................................... .............................10 <br />2. <br />[RESERVED] ............................................................................................. <br />.............................10 <br />3. <br />SCOPE OF WORK/ PROJECT BUDGET ................................................ .............................10 <br />4. <br />[RESERVED] ............................................................................................. <br />.............................10 <br />5. <br />LOANS: <br />................................................................................................................................... <br />10 <br />5.1 <br />City /HOME Loan ........................................................................... .............................10 <br />5.2 <br />Agency Loan .................................................................................. .............................11 <br />5.3 <br />Other Terms and Conditions of the Loans ..................................... .............................11 <br />6. <br />CONDITIONS <br />TO DISBURSEMENT OF LOAN PROCEEDS .............. .............................12 <br />6.1 <br />Conditions Precedent ..................................................................... <br />6.2 <br />.............................12 <br />Disbursement Procedures for Loans <br />6.3 <br />.............................................. .............................13 <br />First Disbursement <br />6.4 <br />......................................................................... .............................14 <br />Termination for Failure of Condition <br />6.5 <br />............................................. .............................14 <br />Any Disbursement <br />6.6 <br />.......................................................................... .............................14 <br />Final Disbursement <br />6.7 <br />........................................................................ .............................14 <br />Waiver of Conditions <br />6.8 <br />..................................................................... .............................15 <br />Disbursement Requests <br />6.9 <br />.................................................................. .............................15 <br />Manner of Disbursement <br />6.10 <br />................................................................ .............................15 <br />Cost Overruns <br />6.11 <br />................................................................................. .............................16 <br />Cost Savings <br />6.12 <br />................................................................................... .............................16 <br />Retainage <br />6.13 <br />........................................................................................ .............................16 <br />Waiver of Disbursement Conditions <br />6.14 <br />.............................................. .............................17 <br />Modification of Disbursement Conditions <br />and Procedures ........... .............................17 <br />6.15 <br />Closing Costs and Fees .................................................................. <br />.............................17 <br />7. <br />AFFORDABILITY REQUIREMENTS, USE AND MAINTENANCE OF THE PROPERTY17 <br />7.1 <br />Use Covenants and Restrictions ..................................................... <br />7.2 <br />.............................17 <br />Affordable Gross Starting Rents (Less Reasonable Utility Allowance) .....................18 <br />7.3 <br />Rental Vouchers ............................................................................. <br />7.4 <br />.............................19 <br />Rent Increases <br />................................................................................ .............................20 <br />8. <br />[RESERVED.] ............................................................................................ <br />.............................20 <br />9. <br />GENERAL PROVISIONS AND WARRANTIES .................................... <br />.............................20 <br />9.1 <br />Formation, Qualification and Compliance ..................................... <br />9.2 <br />.............................20 <br />Execution and Performance of Loan Documents <br />.......................... .............................20 <br />9.3 <br />Financial and Other Information .................................................... .............................21 <br />9.4 <br />No Material Adverse Change <br />......................................................... .............................21 <br />i <br />DOC SOC/ 1475221 v5/200272 -0004 <br />8OB -10 <br />