This page uses extracted PDF text. Text can misread numbers, dates or table columns. Check the PDF before quoting or interpreting it. Redacted areas remain redacted.
“FHA Insurance Commitment” means the commitment for insurance of advances issued by the
Federal Housing Commissioner of HUD with respect to the Project, dated December 23, 2025, as may be
amended from time to time.
“FHA Insurance Regulations” means the FHA regulations promulgated under the National Housing
Act, as amended.
“FHA Insured Mortgage Loan” means the mortgage loan in the approximate original principal
amount of $30,814,000* to be advanced by the FHA Lender to the Borrower and insured by FHA under
Section 221(d)(4) of the National Housing Act, as amended.
“FHA Lender” means Merchants Capital Corp., an Indiana corporation, its successors and assigns.
“FHA Lender Funds” means funds of the FHA Lender, other than proceeds of the FHA Insured
Mortgage Loan, delivered to the Trustee pursuant to the Indenture and the Loan Agreement.
“FHA Loan Documents” means the documents related to the FHA Insured Mortgage Loan,
including the FHA Insurance Commitment, the FHA Note, the FHA Mortgage, the HUD Regulatory
Agreement and any and all other documents, agreements, or instruments which evidence or secure the
indebtedness evidenced by the FHA Note.
“FHA Mortgage” means the first-lien priority Multifamily Mortgage, Security Agreement,
Assignment of Rents, and Fixture Filing (Virginia), dated the date of the FHA Note and insured by HUD,
from the Borrower for the benefit of the FHA Lender to secure the repayment of the FHA Note.
“FHA Note” means the Note (Multistate) in the approximate amount of $30,814,000*, dated as of
July 1, 2026, from the Borrower to the FHA Lender to evidence its indebtedness under the FHA Insured
Mortgage Loan.
“Fiscal Year” means, with respect to a Person, that period beginning on January 1 of each year and
ending on December 31 of the same year or such other fiscal year as shall be designated by such Person as
its annual accounting period.
“Force Majeure” means any of the causes, circumstances or events described as constituting Force
Majeure in the Loan Agreement or the Indenture.
“GAAP” means generally accepted accounting principles applied on a consistent basis.
“General Partner” means Stuart Gardens Housing Management, LLC, a Virginia limited liability
company, its permitted successors and assigns.
“GNMA” means the Government National Mortgage Association, a corporate instrumentality of
the United States within the United States Department of Housing and Urban Development organized and
existing under the National Housing Act.
“GNMA Documents” means the GNMA Guaranty and the documents related to the GNMA
Guaranty.
* Preliminary; subject to change.
A-6Jump to an indexed page (744 of 744)