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renovations is not an Available Unit and does not become an Available Unit until it has been leased for the
first time after the renovations are completed.
"Bond Counsel" means Williams Mullen or any other law firm of nationally recognized standing
in the field of municipal finance law whose opinions are generally accepted by purchasers of tax-exempt
obligations that is acceptable to the Issuer.
"Bondholder" means, with respect to any Bond, the registered owner of such Bond.
"Bonds” or “Bond" means the $23,000,000 Newport News Redevelopment and Housing
Authority Multifamily Housing Revenue Bonds (Stuart Gardens I Apartments) Series 2026 issued to
provide funds to make the Loan.
"Borrower" means Stuart Gardens Housing Partners, LP, a Virginia limited partnership, together
with its permitted successors and assigns.
"Business Day" means any day other than (a) a Saturday or a Sunday, (b) any day on which
banking institutions located in the city or cities in which the principal office or payment office of the Trustee
are located or the city or cities in which any paying agent is located are required or authorized by law or
executive order to close, (c) any day on which banking institutions located in the city of New York, New
York are required or authorized by law or executive order to close or (d) a day on which The New York
Stock Exchange is closed.
"Code" means the Internal Revenue Code of 1986, as amended and supplemented from time to
time, or any successor statute, and applicable final, temporary or proposed regulations thereunder.
"Commercial Facilities" means that part of the Project not consisting of (i) that portion of the
building or buildings of the Project containing residential units and (ii) any facilities, or portions thereof,
that are approved by the Issuer and are properly allocable and are directly related and essential to the
portions of such building or buildings containing residential units for purposes of Section 142(d) of the
Code, including the Recreation Facilities hereinafter defined and the portion of the parking facilities
hereinafter described and the tenant laundry facilities which are intended for use by the Project's residential
tenants.
"Commonwealth" means the Commonwealth of Virginia.
"Completion Date Certificate" means the certificate from the Borrower to the Trustee stating that
the acquisition, rehabilitation, renovation and equipping of the Project has been completed.
"Compliance Certificate" means the Compliance Certificate substantially in the form of Exhibit
"B" hereto, as such form may be revised by the Issuer from time to time upon advice of Bond Counsel.
“Dwelling Units” shall mean the affordable housing eligible apartment facilities located in the
Project.
"Electronic Means" means a facsimile transmission or other similar electronic means of
communication, including a telephonic communication promptly confirmed by writing or written
transmission.
“HUD” shall mean the United States Department of Housing and Urban Development.
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