11-13-2024 Council Packet - Laserfiche WebLink

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D-1 EXHIBIT D FREDDIE MAC RIDER THIS FREDDIE MAC RIDER (“Rider”) is attached to and forms a part of the Regulatory Agreement (“Regulatory Agreement”), dated as of December 1, 2024, by and between City of Little Canada, Minnesota (“Governmental Lender”), U.S. Bank Trust Company, National Association, as fiscal agent (together with any successor in such capacity, the “Fiscal Agent”), and Ride Limited Partnership (together with any successor to its rights, duties and obligations hereunder and as owner of the Project identified herein, the “Borrower”). 1. Definitions. The terms used in this Rider (except as herein otherwise expressly provided or unless the context otherwise requires) shall have the respective meanings specified below. Terms used herein not otherwise defined shall have the respective meanings set forth in the Regulatory Agreement and the Funding Loan Agreement, as applicable. “Delivery Date” means December __, 2024. “Freddie Mac” means the Federal Home Loan Mortgage Corporation, a shareholder-owned government-sponsored enterprise organized and existing under the laws of the United States, and its successors and assigns. “Funding Lender” means any Person who is the holder of the Governmental Note, initially as of the effective date of this Rider, Merchants Capital Corp. and on the Freddie Mac Purchase Date, Freddie Mac, and any successors or assigns thereof. “Funding Loan Agreement” means the Funding Loan Agreement, dated as of December 1, 2024, by and among Governmental Lender, Initial Funding Lender, and Fiscal Agent, as such Funding Loan Agreement may be amended, restated, supplemented or otherwise modified from time to time. “Governmental Note” means the City of Little Canada, Minnesota Multifamily Housing Revenue Note (Ride Apartments) Series 2024, dated the Delivery Date, executed by Governmental Lender and authenticated by Fiscal Agent in favor of Initial Funding Lender, pursuant to the Funding Loan Agreement, as the same may be amended, restated, supplemented or otherwise modified from time to time, or any note executed in substitution therefor, as such substitute note may be amended, restated, supplemented or otherwise modified from time to time, and together with all addenda thereto. “Initial Funding Lender” means Merchants Bank of Indiana. “Loan Servicer” means any entity appointed by Funding Lender Representative to service the Loans and any successor in such capacity as appointed by Funding Lender Representative pursuant to Section 3.02 of the Project Loan Agreement. Initially, as of the effective date of this Rider, Loan Servicer shall be Merchants Capital Corp. “Project” means, collectively, the Land, Improvements, and Fixtures (each as defined in the Security Instrument).