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“Bond Debt Service Charges” means, for any period or payable at any time, the principal of and
interest on the Bonds for that period or payable at that time whether due at maturity or upon redemption,
Mandatory Tender or acceleration.
“Bond Fund” means the Bond Fund created pursuant to Section 5.01 hereof.
“Bond Mortgage” means the Mortgage, Assignment of Rents, Fixture Filing and Security
Agreement, dated as of July 1, 2026, between the Borrower, as mortgagor, and the Issuer, as mortgagee, as
assigned by the Issuer to the Trustee.
“Bond Payment Date” means each Interest Payment Date and any other date Bond Debt Service
Charges on the Bonds are due, whether at maturity, upon redemption, Mandatory Tender or acceleration or
otherwise.
“Bond Purchase Agreement” means the Bond Purchase Agreement, dated July __, 2026, among
the Underwriter, the Issuer, and the Borrower.
“Bond Resolution” means that certain resolution authorizing the issuance of the Bonds to finance
the Project, adopted by the Issuer on June 16, 2026.
“Bonds” means the Multifamily Housing Revenue Bonds (Stuart Gardens II Apartments) Series
2026 issued by the Issuer pursuant to this Indenture and the Bond Resolution in the original aggregate
principal amount of $24,000,000.
“Bond Year” means each annual period of twelve (12) months the first of which commences on the
date of the original issuance and delivery of the Bonds and the last of which ends on the maturity of the
Bonds, except that the first and last Bond Year may be less than twelve (12) months.
“Book-Entry Form” or “Book-Entry System” means, with respect to the Bonds, a form or system,
as applicable, under which (a) physical Bond certificates in fully registered form are issued only to a
Depository or its nominee, with the physical Bond certificates “immobilized” in the custody of the
Depository; and (b) the ownership of book-entry interests in Bonds and Bond Debt Service Charges thereon
may be transferred only through a book entry made by Persons other than the Issuer or the Trustee. The
records maintained by Persons other than the Issuer or the Trustee constitute the written record that
identifies the owners, and records the transfer, of book-entry interests in the Bonds and Bond Debt Service
Charges thereon.
“Borrower” means Stuart Gardens II Housing Partners, LP, a Virginia limited partnership, and its
lawful successors and assigns to the extent permitted by the Loan Agreement.
“Borrower Documents” means, collectively, the Loan Agreement, the Promissory Note, the
Regulatory Agreement, and the Tax Certificate.
“Bridge Lender” means Merchants Bank of Indiana.
“Bridge Loan” means that certain loan by Bridge Lender to the Borrower in the original principal
amount of $19,000,000 that will bridge a portion of the Federal Tax Credit Equity, the Federal Historic Tax
Credit Equity, and the State Historic Tax Credit Equity contributions.
“Bridge Loan Documents” means, collectively, the Bridge Loan Agreement, by and between the
Borrower and the Bridge Lender, dated as of July __, 2026; the Promissory Note with HUD Rider; Pledge
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