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EXHIBIT B
BORROWER鈥橲 COUNSEL OPINION
Colliers Securities LLC U.S. Bank Trust Company, National Association
90 South 7th Street, Suite 4300 2 Concourse Parkway, Suite 800
Minneapolis, Minnesota 55402 Atlanta, Georgia 30328-5588
Newport News Redevelopment and Vitus Group LLC
Housing Authority 2607 Second Avenue, Suite 300
227 27th Street Seattle, Washington 98121
Newport News, Virginia 23607
$24,000,000
Newport News Redevelopment and Housing Authority
Multifamily Housing Revenue Bonds
(Stuart Gardens II Apartments)
Series 2026
[TO BE UPDATED]
[After appropriate introductory language, the opinion shall state substantially as follows:]
1. The Borrower is a limited partnership, duly organized, validly existing and in good
standing under the laws of the Commonwealth of Virginia and has all requisite limited partnership power
and all material government licenses, authorizations, consents and approvals necessary to own and operate
its property and conduct its business. The Borrower is qualified to do business in the Commonwealth of
Virginia.
2. The Borrower has full legal right, power and authority (a) to own its properties and conduct
its business as described in the Preliminary Official Statement and the Official Statement and (b) to enter
into and to carry out and consummate the transactions contemplated by the Borrower Documents.
3. The General Partner is a limited liability company, duly organized, validly existing and in
good standing under the laws of the Commonwealth of Virginia and has all requisite limited liability
company power and all material government licenses, authorizations, consents and approvals necessary to
own and operate its property and conduct its business. The General Partner is qualified to do business in
the Commonwealth of Virginia.
4. By all necessary action, the Borrower has duly authorized and adopted the Borrower
Documents, and approved the execution and delivery of, and the performance by the Borrower of the
obligations in connection with the issuance of the Bonds on its part contained in the Bonds and the Borrower
Documents and the consummation by it of all other transactions contemplated by the Indenture and the
Borrower Documents in connection with the issuance of the Bonds. The individual who has executed the
Borrower Documents on behalf of the General Partner of the Borrower has the authority to bind the General
Partner and thereby the Borrower to the terms and conditions of the Borrower Documents.
5. The Borrower Documents have been duly executed and delivered by the Borrower and,
assuming the due authorization, execution and delivery of such agreements by the respective other parties
thereto where necessary, if any, constitute legal, valid and binding obligations of the Borrower enforceable
in accordance with their respective terms, except as enforcement may be limited by bankruptcy, insolvency,Jump to an indexed page (744 of 744)