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<br />27 <br />Little Canada-Lupe - Borrower Loan Agreement - LC Apartments(199386221.3) - 5/12/2026 6:38:21 PM <br />(the “Rule”)), which have been filed with the Funding Lender, the MSRB or the Securities and Exchange <br />Commission. The Borrower shall clearly identify each such other document so included by reference. <br />(c) In each case, the Annual Report may be submitted as a single document or as <br />separate documents comprising a package, and may cross-reference other information as provided in this <br />section; provided, that the financial statements of the Borrower may be submitted separately from the <br />balance of the Annual Report and later than the date required above for the filing of the Annual Report if <br />they are not available by that date. If the Borrower's fiscal year changes, it shall give notice of such change <br />in the same manner as for a Material Event in this Section. <br />(d) This Section shall govern the giving of notices of the occurrence of any of the <br />following events (each, a “Material Event”): <br />(1) Principal and interest payment delinquencies; <br />(2) Non-payment related defaults, if material; <br />(3) Unscheduled draws on debt service reserves reflecting financial <br />difficulty; <br />(4) Unscheduled draws on credit enhancements reflecting financial <br />difficulty; <br />(5) Substitution of credit or liquidity providers, or their failure to <br />perform; <br />(6) adverse tax opinions, the issuance by the Internal Revenue Service <br />of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form <br />5701-TEB) or other material notices or determinations with respect to the tax-exempt status <br />of interest paid on the Governmental Note, or other Listed Events affecting the tax-exempt <br />status of interest paid on the Governmental Note; <br />(7) Modifications to rights of any interest in the Funding Loan, if <br />material; <br />(8) optional, contingent or unscheduled prepayments of the Borrower <br />Loan or Funding Loan, if material, and tender offers; <br />(9) Defeasances; <br />(10) release, substitution or sale of property securing repayment of the <br />Borrower Loan or the Funding Loan, if material; <br />(11) Rating changes; <br />(12) bankruptcy, insolvency, receivership or similar event of the <br />Borrower. For purposes of this clause (xii), any such event shall be considered to have <br />occurred when any of the following occur: the appointment of a receiver, fiscal agent or <br />similar officer for the Borrower in a proceeding under the U.S. Bankruptcy Code or in any <br />other proceeding under state or federal law in which a court or governmental authority has <br />assumed jurisdiction over substantially all of the assets or business of the Borrower, or if