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.
(d) The costs specified herein, when added to all previous and all proposed future
disbursements under the Loan, will result in the renovation and rehabilitation expenditures,
within the meaning of Section 147(d) of the Code, with respect to the Project equaling or
exceeding 15% of the portion of the cost of acquiring the Project financed with proceeds
of the Bonds.
(e) To the knowledge of the undersigned, there is no current or existing event of default
pursuant to the terms of the Agreement or the Regulatory Agreement and no event exists
which by notice or passage of time or both would constitute an event of default under any
of the foregoing documents.
(f) No representation or warranty of the Borrower contained in the Agreement or the
Regulatory Agreement is materially incorrect or inaccurate, except as the Borrower has set
forth in writing, and there has been no event of default under the terms of any of those
documents and which is continuing and no event shall exist which by notice, passage of
time or both would constitute an event of default under any of those documents.
(g) This statement and all exhibits hereto, including the Disbursement Schedule attached
hereto, shall be conclusive evidence of the facts and statements set forth herein and shall
constitute full warrant, protection and authority to the Trustee for its actions taken pursuant
hereto.
This statement constitutes the approval of the Borrower of the disbursement hereby requested and
authorized.
This ___ day of ___________, 202_.
STUART GARDENS II HOUSING PARTNERS, LP,
a Virginia limited partnership
By: Stuart Gardens II Housing Management, LLC,
a Virginia limited liability company,
its General Partner
By: Vitus Development III, LLC,
a Delaware limited liability company,
its Member and Manager
By:________________________________
Name: Stephen R. Whyte
Title: President
E-2Jump to an indexed page (744 of 744)