06-08-2022 Council Packet - Laserfiche WebLink

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73495160v3 22 same may be subsequently down-dated or endorsed from time to time, with the approval of the Controlling Person. “U.C.C.” means the Uniform Commercial Code of the State as now in effect or hereafter amended. “Underwriter Group” shall have the meaning given to such term in Section 10.12 of the Borrower Loan Agreement. “Underwritten Expenses” shall mean the amount set forth on the Schedule of Financial Terms. “Underwritten Economic Vacancy” shall mean the amount set forth on the Schedule of Financial Terms. “Underwritten Management Fee” means the percentage of gross income specified on the Schedule of Financial Terms received from the Project Facilities on account of rents, service fees, late charges, penalties and other charges under Leases. “Work” means the items of construction of the Improvements required to be performed under the Plans and Specifications for the Improvements. Section 1.2 Rules of Construction. Unless the context clearly indicates to the contrary, the following rules shall apply to the construction of this Funding Loan Agreement: (a) All terms defined in the Borrower Loan Agreement and not defined herein shall have the meaning given to such terms in the Borrower Loan Agreement. (b) Words importing the singular number shall include the plural number and vice versa. (c) The table of contents, captions, and headings herein are for convenience of reference only and shall not constitute a part of this Funding Loan Agreement nor shall they affect its meaning, construction or effect. (d) Words of the masculine gender shall be deemed and construed to include correlative words of the feminine and neuter genders, and words of the neuter gender shall be deemed and construed to include correlative words of the masculine and feminine genders. (e) All references in this Funding Loan Agreement to particular Articles or Sections are references to Articles or Sections of this Funding Loan Agreement, unless otherwise indicated. ARTICLE II SOURCE OF PAYMENTS, GENERAL TERMS AND PROVISIONS OF THE GOVERNMENTAL NOTE Section 2.1 Security. To secure the payment of the Funding Loan and the Governmental Note, to declare the terms and conditions on which the Funding Loan and the Governmental Note are secured, and in consideration of the terms and provisions of the funding of the Funding Loan by the Funding Lender, the Governmental Lender does hereby grant, bargain, sell, remise, release, convey, assign, transfer, mortgage, hypothecate, pledge, set over and confirm to the Funding Lender (except as limited herein), a lien on and security interest in the following described property (excepting, however, in each case, the Reserved Rights) (said property, rights and privileges being herein collectively called, the “Security”):