04-26-2023 Council Packet - Laserfiche WebLink

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C-1 EXHIBIT C CERTIFICATE OF CONTINUING PROGRAM COMPLIANCE (DATE) TO: City of Little Canada, Minnesota Little Canada City Hall 515 Little Canada Road East Little Canada, MN 55117 Attn: City Administrator and (prior to the discharge of the Note (hereinafter defined)) U.S. Bank Trust Company, National Association 60 Livingston Avenue, Third Floor EP-MN-WS3C Saint Paul, Minnesota 55107 Attn: Global Corporate Trust Re: Multifamily Housing Revenue Note (Lica Apartments Project), Series 2023 (the “Note”) The undersigned, an authorized representative for Little Canada Phase II Limited Partnership, a Minnesota limited partnership (the “Owner”), hereby certifies, represents, and warrants that: 1. The Owner owns the multifamily housing project located in Little Canada, Minnesota and known as the Lica Apartments Project (the “Project”). 2. The undersigned and the Owner have read and are thoroughly famili ar with the provisions of (1) the Regulatory Agreement, dated as of [______ 1, 2023] (the “Regulatory Agreement”), between the Owner, the City of Little Canada, Minnesota (the “Governmental Lender”), and U.S. Bank Trust Company, National Association (the “Fiscal Agent”); and (2) the Borrower Loan Agreement, dated [______ 1, 2023] (the “Agreement”), between the Governmental Lender, the Owner, and the Fiscal Agent. The Regulatory Agreement was executed, delivered, and recorded against the Project in connection with the issuance of the Note. 3. A review of the activities of the Owner and of the Owner’s performance under the Regulatory Agreement and the Loan Agreement during the year ending ___________ has been made under the supervision of the undersigned. 4. The Project’s Qualified Project Period commenced on ___________________ (the date on which 10% of the residential units in the Project were occupied), and will end on the latest of: