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(d) Bonds in lieu of which others have been authenticated under the Indenture.
“Paying Agent” means the Trustee acting as such, or any other bank or trust company designated
as a Paying Agent by or in accordance with the Indenture.
“Person” or words importing persons mean firms, associations, partnerships (including without
limitation, general and limited partnerships), joint ventures, societies, estates, trusts, corporations, limited
liability companies, public or governmental bodies, other legal entities and natural persons.
“Plans and Specifications” means the plans and specifications describing the Project as now
prepared and as they may be changed as provided in the Indenture from time to time.
“Predecessor Bond” of any particular Bond means every previous Bond evidencing all or a portion
of the same debt as that evidenced by the particular Bond. For the purposes of this definition, any Bond
authenticated and delivered under the Indenture in lieu of a lost, stolen or destroyed Bond shall, except as
otherwise provided in the Indenture, be deemed to evidence the same debt as the lost, stolen or destroyed
Bond.
“Program Obligations” shall have the meaning provided in the FHA Mortgage.
“Project” means the financing for a portion of the costs of the renovation, rehabilitation,
construction, improvement, and equipping of the multifamily rental housing facility consisting of
approximately 239 rental units and related facilities located at 1326C Garden Drive, Newport News,
Virginia 23607, for occupancy by individuals or families of low and moderate income.
“Project Costs” means the costs of the Project specified in the Loan Agreement.
“Project Fund” means the Project Fund created in the Indenture.
“Project Purposes” means the operation of the Project in accordance with the Act, the Code and the
Regulatory Agreement.
“Promissory Note” means the Promissory Note, in the original principal amount of $24,000,000 *,
dated the Closing Date, in the form attached to the Loan Agreement as an exhibit, evidencing the obligation
of the Borrower to make Loan Payments.
“Rating Agency” means S&P, Moody’s, or any other nationally recognized municipal securities
rating agency acceptable to the Holders, and initially means Moody’s so long as Moody’s is rating the
Bonds.
“Rebate Analyst” shall have the meaning provided in the Indenture.
“Rebate Fund” means the Rebate Fund created in the Indenture.
“Register” means the books kept and maintained by the Registrar for registration and transfer of
Bonds pursuant to the Indenture.
* Preliminary; subject to change.
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