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<br /> D-2
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<br />“Project Loan” means the loan from Governmental Lender to Borrower pursuant to the
<br />Project Loan Documents, which Project Loan is to be assigned to Fiscal Agent as security for the
<br />Funding Loan.
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<br />“Project Loan Agreement” means the Project Loan Agreement, dated as of December 1,
<br />2024, among Borrower, Governmental Lender, and Fiscal Agent, as such Project Loan Agreement
<br />may be amended, restated, supplemented or otherwise modified from time to time.
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<br />“Project Loan Documents” means the Security Instrument, the Project Note, the Project
<br />Loan Agreement, the Regulatory Agreement, the Assignment, the Continuing Covenant
<br />Agreement, any Subordination Agreement(s) and any and all other instruments and other
<br />documents evidencing, securing, or otherwise relating to the Project Loan or any portion thereof.
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<br />“Project Note” means the Multifamily Note, dated the Delivery Date, executed by
<br />Borrower in favor of Governmental Lender, evidencing Borrower’s payment obligations in respect
<br />of the Project Loan, and endorsed by Governmental Lender to Fiscal Agent as security for the
<br />Funding Loan, as the same will be amended and restated into the form attached to the Construction
<br />Phase Financing Agreement upon the occurrence of the Conversion Date, and as the same may be
<br />further amended, restated, supplemented or otherwise modified from time to time, or any note
<br />executed in substitution therefor, as such substitute note may be amended, restated, supplemented
<br />or otherwise modified from time to time, and together with all riders and addenda thereto.
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<br />“Security Instrument” means the Mortgage, Assignment of Rents, Security Agreement
<br />and Fixture Filing, dated as of the Delivery Date, granting a first priority mortgage and security
<br />interest in the Project in favor of Governmental Lender, as the same will be amended and restated
<br />into the form attached to the Construction Phase Financing Agreement upon the occurrence of the
<br />Conversion Date, and as the same may be further amended, restated, supplemented or otherwise
<br />modified from time to time, or any note executed in substitution therefor, as such substitute note
<br />may be amended, restated, supplemented or otherwise modified from time to time, and together
<br />with all riders and addenda thereto.
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<br />2. Applicability. The provisions of this Rider shall amend and supplement the
<br />provisions of, and in the event of a conflict shall supersede the conflicting provisions of, the
<br />Regulatory Agreement.
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<br />3. Indemnification. Inasmuch as the covenants, reservations and restrictions of the
<br />Regulatory Agreement run with the land, the indemnification obligations of Borrower contained
<br />in the Regulatory Agreement will be deemed applicable to any successor in interest to Borrower,
<br />but, it is acknowledged and agreed, notwithstanding any other provision of the Regulatory
<br />Agreement to the contrary, that neither Funding Lender nor any successor in interest to Funding
<br />Lender will assume or take subject to any liability for the indemnification obligations of Borrower
<br />for acts or omissions of Borrower prior to any transfer of title to Freddie Mac, whether by
<br />foreclosure, deed in lieu of foreclosure or comparable conversion of the Project Loan. Borrower
<br />shall remain liable under the indemnification provisions for its acts and omissions prior to any
<br />transfer of title to Funding Lender. Funding Lender shall indemnify Governmental Lender
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