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135242345v3 <br /> <br /> <br />10 <br />“Funding Loan Payment Date” means (a)(i) during the Construction Phase, the tenth <br />(10th) day of each calendar month commencing on _________ 10, 2025, and (ii) during the <br />Permanent Phase, the first (1st) day of each calendar month following the Conversion Date, (b) the <br />date of any prepayment of the Funding Loan, but only with respect to the portion of the Funding <br />Loan subject to prepayment, (c) the Conversion Date, with respect to the payment of accrued <br />interest at the Construction Phase Interest Rate to but not including the Conversion Date, and (d) <br />the Maturity Date. <br />“Government Obligations” means investments meeting the requirements of clause (a) or <br />(b) of the definition of “Qualified Investments” herein. <br />“Governmental Lender” means the entity identified as “Governmental Lender” in the <br />introductory paragraph of this Funding Loan Agreement. <br />“Governmental Lender Fee” means the [ongoing] fee of Governmental Lender in <br />connection with the making of the Project Loan equal to [______________]. <br />“Governmental Note” is defined in the Recitals of this Funding Loan Agreement. <br />“Guide” means the Freddie Mac Multifamily Seller/Servicer Guide, as the same may be <br />amended, modified or supplemented from time to time. <br />“Initial Funding Lender” means the entity identified as “Initial Funding Lender” in the <br />introductory paragraph of this Funding Loan Agreement. <br />“Investment Income” means the earnings and profits derived from the investment of <br />money pursuant to Section 4.07 hereof. <br />“Investor Limited Partner” means MCI Ride Apartments, LLC an Indiana limited <br />liability company as the investor member of the Borrower, along with any successors and assigns <br />in that capacity. <br />“Loan Payment Fund” means the Loan Payment Fund established by Fiscal Agent <br />pursuant to Section 4.01 hereof. <br />“Loan Prepayment Fund” means the Loan Prepayment Fund established by Fiscal Agent <br />pursuant to Section 4.01 hereof. <br />“Loan Servicer” means any entity appointed by Funding Lender Representative to service <br />the Loans and any successor in such capacity as appointed by Funding Lender Representative <br />pursuant to Section 3.02 of the Project Loan Agreement. During the Construction Phase, Loan <br />Servicer shall be Merchants Capital Corp. During the Permanent Phase, Loan Servicer shall be <br />Merchants Capital Corp. <br />“Loans” is defined in the Recitals of this Funding Loan Agreement. <br />“Maturity Date” means [SCHEDULED MATURITY DATE], which is the same as the <br />Scheduled Maturity Date as defined in the Project Note.