Proposed Contract with Flats at South Capitol LLC to Contract No. 2025-53

MURIEL BOWSER
MAYOR
April 30, 2025
The Honorable Phil Mendelson
Chairman
Council of the District of Columbia
John A. Wilson Building
1350 Pennsylvania Avenue, NW, Suite 504
Washington, DC 20004
Dear Chairman Mendelson:
Pursuant to section 451 of the District of Columbia Home Rule Act (D.C. Official Code §
1-204.51 ), enclosed for consideration and approval by the Council of the District of Columbia is
proposed Contract No. 2025-53 with Flats at South Capitol LLC in the amount of $23,602,679.
Under the proposed contract, the District will loan $23,602,679 from the Housing Production Trust
Fund to Flats at South Capitol LLC, which will use the proceeds of the loan to finance certain
eligible costs for 106 units of affordable housing located at 3 848 South Capitol Street SE in Ward
8.
My administration is available to discuss any questions you may have regarding the proposed
contract. In order to facilitate a response to any questions you may have, please have your staff
contact Christopher Earley, Deputy Director, Department of Housing and Community
Development, at chris.earley@dc.gov or at (202) 442-7158.
I look forward to the Council's favorable consideration of this contract.
GOVERNME NT OF THE DISTRICTOF COLUMBIA
DepartmentofHousingand
CommunityDevelopment
kkk
cou! -T SUMMARY
Pursuanttosection202(c)oftheProcurementPracticesReformActof2010,effectiveApril8,2011
(D.C.Law18-371;D.C.OfficialCode§2-352.02(c)),thefollowingcontractsummaryisprovided:
(A)Theproposedcontractor,contractamount,unitandmethodof

compensation,contractterm,andtypeofcontract:
ProposedContractor:FlatsatSouthCapitolLLC
ContractAmount: $23,602,679
UnitandMethodofCompensation:DrawSchedule

TermofContract:42yrs/3%simpleinterest
TypeofContract:LoanAgreement
(B)Thegoodsorservicestobeprovided,themethodsofdeliveringgoodsorservices,
andanysignificantprogramchangesreflectedintheproposedcontract:
‘TheDepartmentofHousingandCommunityDevelopment(DHCD)proposes
toprovidealoantoFlatsatSouthCapitolLLCintheamountof$23,602,679
fromtheHousingProductionTrustFundforthepurposeoffinancingcertaineligible
i .predevelopmentcosts,softcostsandconstruction
associatedwith106affordablehousingunitslocatedat3848SouthCapitol
Street,SEinWard8.

(©)Results,includingthepriceandtechnicalcomponents:
DHCD receivedarequestforfundingfromtheborrowertobeusedforthepurposeof
financingcertaineligibleacquisitioncosts,predevelopmentcosts,softcostsand
constructionhardcostsassociatedwith106affordablehousingunitslocatedat3848
SouthCapitolStreet,SEinWard8.
Page1of3
(D)Thebackgroundandqualificationsoftheproposedcontractor,
includingitsorganization,financialstability,personnel,andpriorperformanceoncontractswiththeDistrictgovernment:
KayeSternPropertiesandDantesPartnerswithNFPAffordableHousingCorpplantoconstruct,
aground-upaffordableresidentialprojectat3848SouthCapitolStreet,SEinWashington,DC.
Currently,thesiteisunderdevelopedwithtwosmallmultifamilyassetstotalingthirty(30)units.
Thesponsorsintendtodemolishtheexistingstructuresandconstructanew106-unit
affordablehousingcommunitythatwillimprovethelivingconditionsoftheexistingtenants
andprovideotherDC residentswithanewoptionformodernandaffordablehousing.

Allentitiesinvolvedintheproposedcontractorhavesatisfactorypriorperformanceon
contractswith the Districtgovernment.
(E)Performancestandardsandtheexpectedoutcomeoftheproposedcontract:

Thedevelopersof FlatsatSouthCapitolhaverequested$23,602,679inHPTFdevelopmentfinancingfortheproductionof106unitsinWard8intheBellvueneighborhood.
(F) A certificationthattheproposedcontractiswithintheappropriatedbudgetauthorityfortheagencyforthefiscalyearandisconsistentwith
thefinancialplanandbudgetadoptedinaccordancewithD.C.Official
Code§§47-392.01and47-392.02:
TheloanwillbefundedthroughtheHousingProductionTrustFund,AttachedisthecertificationdemonstratingthattheproposedloanisconsistentwiththeDistrict's
financialplanandbudget.

(G) A certificationthattheproposedcontractislegallysufficient,includingwhethertheproposedcontractorhasanycurrentlypendinglegal
claimsagainsttheDistrict:

A legalsufficiencymemorandumfromtheOfficeoftheGeneralCounselisattached.
(H)AcertificationthattheproposedcontractoriscurrentwithitsDistrictandfederaltaxesorhasworkedoutandiscurrentwitha
paymentscheduleapprovedbytheDistrictorfederalgovernment:
Districtandfederaltaxlawcompliancecertificationsareattached.
Page2of3
(1)Thestatusoftheproposedcontractorasacertifiedlocal,small,ordisadvantagedbusinessenterpriseasdefinedintheSmall,Local,and
DisadvantagedBusinessEnterpriseDevelopmentandAssistanceActof2005,effectiveOctober20,2005(D.C.Law16-32;D.C.OfficialCode§2-218.01etseq.):
FlatsatSouthCapitolLLCisnota certifiedlocal,small,ordisadvantagedbusinessenterprise.
(J)OtheraspectsoftheproposedcontractthattheChiefProcurementOfficerconsiderssignificant:
None
(K)AstatementindicatingwhethertheproposedcontractoriscurrentlydebarredfromprovidingservicesorgoodstotheDistrictorfederalgovernment,thedatesofthedebarment,andthereasonsfordebarment:

TheproposedcontractorisnotcurrentlydebarredfromprovidingservicesorgoodstotheDistrictorfederalgovernment.A debarmentaffidavitisattached,

(L)Wherethecontract,ifexecuted,willbemadeavailableonline:

‘Thecontractsummary willbe availableatwww.dhed.de.gov.
Page3of3
HOLASiro,SWWashington,DC20024

ofNotice:March21,2025

iceNumber:L0013880971
FLATSATSOUTHCAPITOLLLC FEIN:**HT TEST NW CaseID:WASHINGTONDC 20005-4632
#0177
530435
Tae

AsreportedintheC1
liabilitywiththeDist
Serv
thisCert

inHandssystem,theabovereferencedindividual/entityhasnooutstandingofTax andRevenueortheDepartmentof Employment
hascompliedwithDCCode§47-2862.therefore

TITLE47.TAXA TION,LICENSING,PERMITS,
CHAPTER 28GENERAL LIC
SUBCHAPTER ILCLEAN HANDS BEFORE RECEIVINGA LICE!
D.C.CODE§ 47-2862(2006)
§47-2862PROHIBITIONAG \INSTISSUANCEOF LICENSEOR PERMIT.

SMENTS,AND FEE
OR PERMIT

nd EnforcementAdministrat

To validatethiscert
“ValidateaCe
.pleasevisitMyTax,DC.gov.OntheMyTaxDC homepaicateofCleanHands”hyperlinkundertheCleanHandssection,

THOathStevetSW,SuiteWE

InitialFile#:00007330571EntityType:LLC
GOVERNMENT OF THE DISTRICT OF COLUMBIA
DEPARTMENT OF LICENSINGAND CONSUMER PROTECTION
CORPORATIONS DIVISION
[xk *
CERTIFICATE

THIS ISTO CERTIFY thatallapplicableprovisionsofthe DistrictofColumbiaBusiness
OrganizationsCode(Title29)havebeencompliedwithandaccordingly,thisCERTIFICATEOF
GOOD STANDING isherebyissuedto
FlatsatSouthCapitolLLC
WE FURTHER CERTIFY thatthedomestic entityisformed under the lawofthe Districton
04/04/2022;thatallfees,andpenaltiesowedtothe DistrictforentityfilingscollectedthroughtheMayorhavebeenpaidandPaymentisreflectedintherecordsoftheMayor;Theentity'smostrecentbiennialreportrequiredby§29-102.11hasbeendeliveredforfilingtotheMayor;andtheentityhasnotbeendissolved.Thisofficedoesnothaveanyinformationabouttheentity's
businesspracticesandfinancialstandingandthiscertificateshallnotbeconstruedastheentity'sendorsement.
INTESTIMONY WHEREOF Ihave hereuntosetmy handandcausedthesealofthisofficeto
beaffixedasof3/20/20251:18PM

Businessand ProfessionalLicensingAdministration
Rebecca Gano
REBECCAJANOVICH
SuperintendentofCorporations,
CorporationsDivision

MurielBowser
Mayor
Tracking#:ckImyI7i
AEEIDAVIL

1. BuwaBinitieherebyattestthatallmembersofthe team,whoarelistedbelow,arenotlistedinthe1istofPartiesFxeludedfromFederalProcurementorNon-ProcurementPrograms
PLOPMENT TEAS
Owner: FlatsatSouthCapitolLLC
Consultant(s):
ManagementAgent:FariaManagement
Atorney:_Reno& Cavanaugh
Engineers):WilesMensch -
Architect(s):
Other(s):_MeCulloughConstruction
furtherattestthatnoprincipal.majorstockholder,officer,ordirectoroftheteamis
debatredfromparticipatinginafederalprocurementoFnot "
Nee Woche‘SignidhtreofApplica
focurementprogr:

AuthorizedAgentile
2/1072025. _Date
Notary:
herebycertifyonthis_1© dayof(142°U,twa Bintpersonallyappearedandsignedthis

documentandacknowledgedthathe/shewastheAuthoFizedSignatoryofFlatsatSouthCapitolLLC,
DistrictofColumbia
SiangSi womt0(orafmes)beforere
onewee ee% eee TE ic/te guleeHa.
i=, bce.
Rafe Debian,Disnee!©ofeokGame Be
Mycommissionexpires:_[)Mey BGT

GOVERNMENT OF THE DISTRICT OF COLUMBIA
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
January 31, 2025
VIA ELECTRONIC MAIL
* * *
WEARE
WASHINGTON
oc
Commissioner Dionne Yvette Brown
Chair ANC 8D
Washington, DC 20032
8D0 l@anc.dc.gov
Re: Flats at South Capitol
Dear Commissioner Brown,
Pursuant to D.C. Official Code§ 1-309.10 (2001 ed.), you are hereby informed that the
Department of Housing and Community Development ("Department" or "the Department")
proposes to provide Flats at South Capitol LLC with funding in an approximate amount of
$23,602,679 in Housing Production Trust Funds that will be used to finance acquisition,
construction, and related costs for the affordable housing project to be located at 3836-3840
South Capitol Street SE and 3848 South Capitol Street SE.
Please be advised that Advisory Neighborhood Commission 8D has thirty (30) business days
from the date of this notice to submit comments on the above proposed action. District law
requires that the Department give "great weight" to all relevant ANC concerns or
recommendations. We respectfully request that any comment in response waive the remainder of
the statutory 30 day ANC notice comment period.
The Department must receive comments by March 17, 2025 (i.e., the thirty-business day
comment period). You must include a reference to the subject matter identified at the top of this
notice in your response. Comments may be sent by email to Pamela Hillsman at
pamela.hillsman@dc.gov or by mail to: The Department of Housing and Community
Development, Office of the Director, Attn: Pamela Hillsman, 1909 Martin Luther King A venue,
S.E., 4th Floor, Washington, D.C. 20020.
If you have further questions regarding this project, please do not hesitate to contact Bernard
Guzman at 202-442-4482 or Bernard.guzman@dc.gov.
cc: Councilmember Trayon White, Sr., Ward 8 Councilmember
Mr. Kent Bose, Office of Advisory Neighborhood Commissions
Mr. Buwa Binitie, Principal Dantes Partners
GOVERNMENT OF THE DISTRICT OF COLUMBIA
PROFILE SUMMARY
(CONTRACTsTO PURCHASE,SELL,ACQUIRE,TRANSFER,LEASE OF REAL
PROPERTY/EXCLUSIVE RIGHTAGREEMENTs/LOANs & GRANTs OVER $1M/INTRA-
DISTRICTs)
ContractingAgency:Dept.HousingandCommunityDevelopmentAgencyCode:
UsingAgency: Dept.HousingandCommunityDevelopment AgencyCode:
Loan/Grant/LeaseSub-recipientName:FlatsatSouthCapitolLLC
ShouldtheD.C.Councilhaveanyquestionsregardingthisloan/grant/lease,pleasecontact:
ProjectManagers:BernardGuzman‘TelephoneNumber:(202)442-4482
‘TYPE OF DOCUMENT SUBMITTED
OoI Dy oan/GranvLeaseModification 4. Writtenor InformalContract

0 ExerciseofGrantOptionYear(E.0.)| 5.TT easeofRel Property

3. ME Loan/GrantLeaseAgreementfor: 6.) other,___
FlatsatSouthCapitolLLC
LOAN/GRANTTYPE
fi. Grant 7 - 4 CostReimbursement— —LO O
2. MM LoanPrice$23,602,679 5.) TimeandMaterial
|3.[[)Task Order 6.[7] AdvancePayment

Page1of4
Grant/Loan/LeaseNo.
InterestRate:3%
DoesthisGrant/LoanAmountexceed$1million:
: DHCD
GRANT/LOAN/LEASE INFORMATION
Yes my
Amount:___$23.602.679(HPTF).
No T]
Ifyes,pleaseattachacopyoftheDCCouneilapprovalandprovidethefollowinginformation:
Date received:
LeaseNo.:
Location:
Sq.Ft.Leased:
TotalBldg.Sq.Ft.
IoO ‘Appropriated
Dateapproved:
LEASE INFORMATION
TotalCost
AnnualCost
CostPerSq.Ft.
% Sq.Ft.LeasedByD.C.
BRIEFDESCRIPTIONOF GRANT/LOAN/LEASE
SOURCE OF FUNDING
[4. Intra-District

2. Capital = Oo Inter-Jurisdictional

3.) Gram)

(Other:HPTF

Ifprocurementactionisfundedbygrantorothernon-capitalornon-appropriatedfunds,willthe Districtneedtoexpendsomeportionofitsfundspriortoreceivingfundsfromthegrantoror
otherfundingsource?
O Yes oO X NA
IfYes,indicatetheamounttheDistrictwillneedtoexpendandthepercentagethisamount
representsofthetotalfundsrequiredtosupporttheeffort.DistrictFunds$
%.
Page2 of4
Pleasediscussany othercriticalissuessuch as time constraints;
financial/revenueproducto
CRITICALISSUESASSOCIATEDWITHGRANT/LOANACTION
IsthisGrant/Loanoneofmultiple(morethanone)Grants/Loansforsimilargoods,serviees,etc.,awardedbytheAgencytothissubrecipient,orrelatedentity,withinthelasttwelve(12)months?
yes ~] No
Havereservedfundsbeenobligatedforpayment?(IfYes,ensuredocumentationisincludedinGrant/L.oanFile).

HB yes [no
IstheFilecomplete?(IfYes,pleaseattachpertinentdocumentation).
Hives (1 no
itedwithanotherindividualorbusinessthathas

Isthe subrecipienta successortoor affil
Grant/LoanwiththeAgency?
| No
IfYes,nameofPredecessor/Affiliate:AffiliatesorjointventuresoftheenttitiesinvolvedinFlatsat
SouthCapitolLLChavebeeninvolvedinthedevelopmentofmultipleDHCD-supportedprojects.

IsaformerDistrictemployeeanowner,officer,oraffiliateofthesubreci
O1 ves
IfYes,NameandAffi

ealthandsafetyissues;orissuesthatshouldbeknown.
FUTUREINFORMATION/DOCUMENTATIONTOBESUBMITTEDTOAUTHORITY
IFGrant/LoanISAWARDED
L o ‘AwardDate 4. [[] ClaimsBy/AgainstGrant/Loan

=o ExpirationDate 5.]_ CentfiedCompletionDate

inalPaymentDate
3 Ey] Amendments 67
Page3of4

CERTIFICATIONS
IcertifythatthisproposedacquisitionbytheDepartmentofHousingandCommunityDevelopment(DHCD)
fromFlatsatSouthCapitolLLCintheamountof$23,602,679fromtheDistrictofColumbiaHousing,
ProductionTrustFundwillfacilitatea106unitaffordablehousingdevelopmentlocatedat3848SouthCapitol
StreetSEasdescribedonthelegaldescriptioninWard8,andisincompliancewiththeapplicableFederaland
Districtof ColumbiaRegulationsandDHCD'spoliciesandprocedures,
Yu25—ColleenGreen Yate]
Director,DHCD
Ug cCler ale/3095Christophe’Earley Date
Deputy Director,DHCD
Ihave reviewedthisLoan actionand have determinedthatitiswithintheDistrict'sFinancial
PlanandBudgetforFY 2025 andthatfundsareavailabletosupporttheaction.
DigitallysignedbyBethanySpoonerBethany Spoonerpte 2asouostrasesor0o
BethSpooner Date
AgencyFiscalOfficer,DHCD

ERMINATION
ThavereviewedthisproposedloanandhavedeterminedthatitiswithintheDistrict'sFinancialPlanandBudgetforFY2025 andthatfundsareavailabletosupporttheaction.
Digitallysigned by Leroy Clay III
Leroy Clay lI I_ Date: 2025.04.0409:12:37 -04'00'
LeroyClay,Ill Date
AssociateChiefFinancialOfficer
EconomicDevelopmentandRegulationCluster
Page4of4
%* &
GOVERNMENT OF THE DISTRICTOF COLUMBIA
DEPARTMENT OF HOUSINGAND COMMUNITY DEVELOPMENT
OfficeoftheGeneralCounsel
sd —
MEMORANDUM
TO: MurielE.Bowser
Mayor
THRU: JuliaWiley,GeneralCounsel
DepartmentofHousingandCogfmuni
FROM: GitaF,Sankano,AssistantGeneralCounsel~S>
DepartmentofHousingandCommunityDevelopment
Development

DATE: March10,2025

SUBJECT: ProposedLoanContractin anaggregateprincipalamountnottoexceed
‘Twenty-ThreeMillionSixHundredTwo ThousandSixHundredSeventy-
Nineand00/100Dollars($23,602,679.00)(the“Loan”)toFlatsatSouth
CapitolLLC (the“Borrower”)

‘TheproposedLoanisfundedbyHousingProductionTrustFund(“HPTF”)Programfundsinan
amount not to exceed Twenty-Three Million Six Hundred Two Thousand Six Hundred
Seventy-Nine and 00/100 Dollars ($23,602,679.00).The Loan proceeds willfinance eligible
projectdevelopmentexpenses,includingacquisitioncosts,softcosts,andconstructionhardcosts,
relatedtothenewconstructionof106rentalhousingunitsatthatcertainrealpropertylocatedat
3848 South CapitolStreet,SE, Washington, DC 20032 (the Project”).All 106 Projectunitsshall
bereservedasaffordablehousingunits(the“ReservedUnits”).22oftheReservedUnitswillbe
occupied by households at or below 30% of the Median Family Income (“MFI”), 72 of the
Reserved Unitswillbe occupied by householdsat or below 50% of the MFI, and 12of theReserved

LOAN AGREEMENT
between
FLATSATSOUTHCAPITOLLLC,
aDistrictofColumbialimitedliabilitycompany
as Borrower
and
DISTRICTOFCOLUMBIA,amunicipalcorporation,
actingbyandthroughtheDEPARTMENTOFHOUSINGANDCOMMUNITYDEVELOPMENT
as Lender
Datedasof_____, 2025
DHCD ContractNo.2025-53ProjectName:FlatsatSouthCapitol
4931-1667-9702,v.4
SectionI.
Section2.
2.
2.2.
23.
24.
Section3.
Section4.
4.1.
4.2.

TABLE OF CONTENTS

Definitions.
Loan...GenerallyMakingofPayment:UseofLoanProceedsAdditionalFinancing.
Reserved.
RequirementsandConditionsforLoanDisbursementsInitialDisbursement
SubsequentDisbursementsFinalDisbursementPaymentProceduresandRequirements..
ConditionsPrecedenttoSubsequentDisbursement:Retainage...‘AdditionalConditionsforFinalDisbursementFinalAdjustmenttoLoanAfterClosingInsufficiencyofLoanProceedsAuthorizedDisbursements.DisbursementsNotaWaiverStoredMaterial:
NoEscrow

RepresentationsandWarrantiesStatus.Authority.
NoConflictingAgreements...LitigationFinancialInformation.
ReceivershiTax Return:
LiensonPropertyUtilities...Roads..ZoningandLandUse.CostBreakdown...OFAC List.
Covenants.ConstructionofProject.
InsuranceAccounting/AuditRequirements
LoanAgreement(RevisedJan.2023) i
4931-1667-9702,v.4

Section7.
7A.
72.
13.
Section8.
Section9.
Section10.
Section11.
Section12.
Section13.

Inspection.MaintenanceantObstructions.Permits,LicensesStructuralInjury,Nuisance,WasteandOtherProhibitedUsesCompliancewithLaws..
Reporting.
RecordsandRetentionPaymentofObligations.Notices...FurtherAssurances.FeesofLender’sAgentsPerformanceofOtherAgreements.AcknowledgementofLenderFinancingPropertyManagement.AffordabilityCovenants,HazardousMaterialsIndemnity

Default;Remedie:Defaults.
RemediesofLenderonEventofDefaultNoRemedyExclusive;DelaysorOmissions;WaiverofBreach.

AdditionalLocaland FederalRequirementsApplicabletoBorrower

ConflictOfInterest/LimitofLiabilit
NoticeofNon-Discrimination..
Freedom of InformationAct.
AntideficiencyActLimitations
Miscellaneous. ose .
ReimbursementofDisbursementsMade orOtherCostsIncurredby Lender13.1.13.2.InterestonAdditionalPaymentsandReimbursements
13.3.IndemnificationofLender
13.4.Nonassignability13.5,LiabilityofLender..
13.6.NoPartnership,JointVenture,Agency13,7.WaiverofJuryTrial/ServiceofProcess/CourtCost
13.8,NoThirdPartyBeneficiaries
13.9.Counterparts.13.10,Notices...
13.11,Amendment13.12.SurvivalofAgreements13.13.EntireAgreement;SuccessorsandAssigns;TimeofEssence
Loan Agreement(RevisedJan.2023) ii
4931-1067-9702,¥.4
13.14,
13.15.
13.16.
13.17.
13.18.

SeverabilityDescriptiveCaptions;Construction.GoverningLawConflictwithProgramRequirements
The followingexhibitsand ridersattachedheretoare incorporatedintoand deemed partofthis
Agreement.

Exh
‘SummaryofLoanTerms
ProjectBudget
ConstructionDrawSchedule
FederalLabor StandardsContractAddendum
Davis-BaconWage Determination
Section3 ContractAddendum
Development Team Debarment Affidavit
InsuranceRequirements

Certificationof Borrower’s Representationsand
Warranties
ExhibitJ Formof FinalLoan ReductionCertificate
ExhibitK Formof Net Cash Flow CalculationWorksheet

x ExhibitL ModificationstoLoanAgreement
Riders
Bd] _Rider1|Low-IncomeHousingTaxCreditProvisions
LoanAgreement(RevisedJan,2023) iti
14931-1687-9702,v.4
LOAN AGREEMENT
‘THISLOANAGREEMENT(this“Agreement”)ismadeasofthis__dayof. ,2025fromFLATSATSOUTHCAPITOLLLC,aDistrictofColumbialimitedliabilitycompany(“Borrower”),andtheDISTRICTOF COLUMBIA,2municipalcorporation,actingbyandthroughtheDEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT(“Lender”).
RECITALS
A. BorrowerownstherealpropertyintheDistrictofColumbialocatedat3848SouthCapitolStreet,SE,Washington,DC20032;
B. BorrowerhasappliedtoLenderforaloaninatotalprincipalamountnottoexceed‘Twenty-ThreeMillionSixHundredTwoThousandSixHundredSeventy-Nineand00/100Dollars($23,602,679.00)(the“Loan”),theproceedsofwhichshallbeusedbyBorrowertofinancetheProject(asdefinedbelow);and

Cc. Lender hasagreedtomake theLoan on thetermssetforthin thisAgreement.
NOW,THEREFORE,inconsiderationofthemutualpromisesandcovenantscontainedherein,andothergoodandvaluableconsideration,thereceiptandsufficiencyofwhichareherebyacknowledged,thepartiesagreeasfollows:
Section1. DefinitionsAsusedherein:
“ActofBankruptcy”meansthefilingofapetitioninbankruptcyundertheUnitedStatesBankruptcyCode,11U.S.C.§101efseq.(andalllfutureactssupplementaltheretooramendatorythereof)orthecommencementofa proceedingunderanyotherapplicablelawconcerninginsolvency,reorganizationorbankruptcybyoragainstBorroweroranyguarantor,asdebtor.
“AffordableHousingCovenant”meansthatcertainAffordableHousingCovenantbyBorrowerforthebenefitofLender,whichsetsforthBorrower'scovenantstorenttheAffordableUnitstoQualifiedTenantsinaccordancewiththeProgramRequirementsandtheLoanDocuments,whichagreementshallberecordedagainstthePropertyasacovenantrunningwith
theland.
“AffordabilityPeriod”meanstheperiodduringwhichBorrowershalloperatetheProject
asaffordablehousingunitsincompliancewiththeAffordableHousingCovenantandtheProgram
Requirements.
“AffordableUnit”meansaresidentialhousingunitthatisreservedforandleasedtoQualifiedTenantsattheapplicableincomelimitforsuchunitandatrentsthatareaffordablepursuanttotheAffordableHousingCovenant.“AffordableUnit”asusedhereinhasthesamemeaningas“ReservedUnit”asusedintheHPTFProgramRequirements.Notwithstandinganyprovisiontothecontrary,anOver-IncomeTenant(assuchtermisdefinedintheAffordableHousingCovenant)mayoccupyanAffordableUnit,however,oncesuchtenantvacatesanAffordableUnit,theAffordableUnitshallberentedtoincomeeligiblehouseholdsinaccordance
LoanAgreement(RevisedJan.2023) 140311867.9700,4
with theAffordableHousing Covenantand theProgram Requirements.“AffordableUnitIndex”
has themeaning setforthintheAffordableHousing Covenant.
“Agreement”hasthemeaningsetforthinthePreamble.
“AnnualOwnerCertification”meansthatcertaincertificationpreparedandexecutedby
BorrowerandsubmittedtoLender,whichcertifiesthatallAffordableUnitshavebeenrented
exclusivelytoQualifiedTenantsatrentlevelsconsistentwiththeAffordableHousingCovenant
andtheProgramRequirements.TheAnnualOwnerCertificationissubmittedtoLenderthrough
itselectronicassetmanagementportal,alsoknownastheDHCD-PAMDOwner/Borrowerportal.
“Architect”means thearchitectfortheProjectand itssuccessorsand assigns.
“Attomeys’FeesandCosts”meansallreasonablecostsandexpenses(including,without
limitation,reasonableattorneys’feesanddisbursementsofLender'scounsel,whetherin-house
staff,retainedfirmsorotherwise)incurredbyLenderorTrustee(assuchtermisdefinedinthe
DeedofTrust)inconnectionwithBorrower’sdefaultundertheLoanDocuments.
“Authority”meansanygovernmentalentityhavingjurisdictionoverallorpartoftheProperty,theProject,oroverapartyhereto.
“Borrower”hasthemeaning setforthinthePreamble.
“Change Order”has themeaning setforthinSection4.5.7.
“ClosingDate”means thedateofthisAgreement.
“CompletionDate”meansthefirstdayofthe28thmonthaftertheClosingDate,subject
tocompletiondelaysthatareallowedintheConstructionContract,asmaybeextendedwiththepriorwrittenconsentofLender.
“ConstructionContract”means the agreementto be enteredintobetween Borrower as
owner and theContractorfortheProject.
“ConstructionDraw Schedule”means theLender-approveddraw scheduleattachedhereto
as ExhibitC and incorporatedherein.

“Contractor”means thegeneralcontractorfortheProjectand itssuccessorsand assigns.
“CostSavings”has themeaning setforthinSection4.8.1(4).
“Deed of Trust”means theDeed of Trust,Assignmentof Leasesand Rents and Security
Agreement deliveredfrom Borrowerto Lender’strusteeforthebenefitof Lender,and willbe
recordedinthelandrecordsof theDistrictof Columbia tosecuretheLoan as evidencedby the
Note.
“DraftLoan ReductionCalculation”hasthemeaning setforthinSection4.8.1(4).
“Due Diligenceand ClosingChecklist”hasthemeaning setforthintheLoan Commitment.
LoanAgreement(RevisedJan.2023) 24931-1867-9702,v.4
“EquityInvestor"hasthemeaning setforthintheLIHTC RiderattachedheretoatRider

“EventofDefault”hasthemeaning setforthinSection7.1.
“ExcessProceeds”hasthemeaning setforthinSection4.8.1(4).
“FiftyPercent(50%)Completion”meansthedateonwhichfiftypercent(50%)oftheconstructionand/orrehabilitationoftheProject,andallimprovements,havebeencompleted,inagoodandworkmanlikemanner,defect-freeandfreefrommechanic’sandmaterialmen’sliens,andinaccordancewithallapplicablelawsandcodes,thePlansandSpecifications,therelevantLoanDocumentsandallenvironmentalremediationlaws,asevidencedbyasignedcertificatefromtheArchitect,whichcertificatemaybeincludedaspartofthePaymentRequestdeliveredtoLender,indicatingthatfiftypercent(50%)oftheconstructionand/orrehabilitationoftheProject,andallimprovements,havebeencompletedinaccordancewithallapplicablelawsandcodes,thePlansandSpecifications,therelevantLoanDocumentsandallenvironmentalremediationlaws.
“FiftyPercent(50%)CompletionMeeting”meanstheprogressmeetingconvenedbyLenderfollowingFiftyPercent(50%)Completion.
“FinalLoanReductionCalculation”hasthemeaningsetforthinSection4.8.1(4).
“FinalLoan ReductionCertificate”means thatcertaincertificatepreparedand executedby
Borrower,insubstantiallytheform attachedheretoas ExhibitJ, which certifiestheamount of
FinalLoan ReductionCalculationinaccordancewith Section4.8.1(4).
“FinancingStatements”meanstheUCC financingstatements,evidencingtheLoan,thatshallberecordedinthelandandchattelrecords,asapplicable,oftheDistrictofColumbiatosecureLender'slienonthefixturesandequipmentlocatedattheProperty.
“FiscalYear” means thefiscalyearofBorrower,which isJanuary1 toDecember 31.
“FOIA” hasthemeaning setforthinSection11.1.
“HazardousMaterials”meansanysubstance(j)thepresenceofwhichrequiresinvestigation,remediation,orspecialhandlingunderanyFederal,stateorlocalstatute,regulation,ordinance,orderorpolicy;or(ii)isorbecomesa“hazardoussubstance”or“hazardouswaste”underanyFederal,stateorlocalstatute,regulation,ordinance,orderorpolicy,includingtheResourceConservationandRecoveryActof1976(42U.S.C.§9601efseq.),asamendedfromtimetotime,ortheComprehensiveEnvironmentalResponse,CompensationandLiabilityActof1980(42U.S.C.§9601efseq.),asamendedfromtimetotime;and(iii)withoutlimitation,includesanylead,oilorpetroleumproducts,polychlorinatedbi-phenyls,PCB's,asbestos,ureaformaldehydefoaminsulationorradongas,exceptassuchproductsarecustomarilyfoundorusedinsimilarprojects.
“Household”meansallpersonswhowilloccupytheAffordableUnit,includingthetenant’sspouseordomesticpartner,allchildrenundereighteen(18)yearsofage,andallotherpersonsovereighteen(18)yearsofagewhowillbeoccupyingtheAffordableUnit.
LoanAgreement(RevisedJan.2023) 34931-1667-9702,v.4
“HUD” means theU.S.DepartmentofHousing and Urban Development.
“Human RightsAct” hasthemeaning setforthinSection10.
“Improvements”meansallstructuresorbuildingsnoworhereaftererectedorplacedontheProperty,togetherwithanyandallalterations,additions,accessionsandreplacementsthereof.
“IncreasedSources”hasthemeaning setforthinSection4.8.1(4).
“Lender”has themeaning setforthinthePreamble.
“Lender Retainage”means an amount equalto the lesserof ten percent(10%) of the
ConstructionContractor tenpercent(10%) of the Loan amount thatshallbe reserveduntilthe
finaldisbursementof Loan proceeds.As setforthin ExhibitA, the Lender Retainageforthis
Projectis$2,360,268.00.

“Loan” hasthemeaning setforthintheRecitals.
“LoanCommitment”meansLender’sletterofconditionalcommitment,andanymodificationsthereto,IntheeventofaconflictintermsbetweenthisAgreementandtheLoanCommitment,thisAgreementshallcontrol.
“LoanDocuments”means,collectively,thisAgreement,theNote,theDeedofTrust,theAffordableHousingCovenant,theFinancingStatements,theLoanCommitmentandanyotherdocumentsrequiredbyLenderfromBorrower,asaconditionprecedenttodisbursingtheLoanproceedsortoevidenceorsecurethisLoan.AllLoanDocumentsshallbeincorporatedhereinbyreference.
“Loan Term” means thetermof theLoan from theClosingDate totheMaturityDate.
“MedianFamilyIncome”or“MEI”meansthemedianfamilyincomeforaHouseholdoffour(4)personsinthe“WashingtonMetropolitanStatisticalArea”asperiodicallypublishedbyHUD,andadjustedforHouseholdsizewithoutregardtoanyadjustmentsmadebyHUD forthepurposesoftheprogramsitadministers,asmaybeadjustedbyLendertoestablishincomelimitspursuanttotheProgramRequirements.MFI isalsoknownasAreaMedianIncomeorAMI.
Notwithstandinganythingtothecontraryherein,themaximumHouseholdincomeforaQualifiedTenantateightypercent(80%)MFIshallbeadjustedpursuanttoSection42(g)(4)oftheInternal
RevenueCode.

“NetCashFlowCalculationWorksheet”meansthatcertainworksheetpreparedandexecutedbyBorrower,insubstantiallytheformattachedheretoasExhibitK,whichdemonstratesBorrower’sannualcalculationofNetCashFlow(assuchtermisdefinedintheNote)andpayments
cowedtoLenderpursuanttotheNote.

“Note”meansthatcertainDeedofTrustNotemadebyBorrower,ofevendateherewith,asamended,modified,orsupplementedfromtimetotime,whichevidencesBorrower'spromisetoLendertorepaytheLoanunderthetermsandconditionsoftheLoanDocuments.
LoanAgreement(RevisedJan.2023) 44931-1667-9702,v.4
“Notice”hasthemeaning setforthinSection13.10.
“OFAC” hasthemeaning setforthinSection5.13.
“OperatingAgreement”meanstheAmendedandRestatedLimitedLiabilityCompany‘AgreementofBorrower,datedasofClosingDate,asmaybeamended.
“OPM”hasthemeaningsetforthinSection4.7.1.
“OtherContingencyUse”hasthemeaningsetforthinSection4.5.7.
“PaymentRequest”hasthemeaningsetforthinSection4.4.
“PermanentLoanClosingDate”hasthemeaningsetforthinSection4.8.1(4).
“PermittedEncumbrances”hasthemeaningsetforthintheDeedofTrust.
“PermittedTransfer”means thetransferspermittedinaccordancewithSection1.11ofthe
DeedofTrust.
“Person”meansa naturalperson,trustee,corporation,partnership,limitedliabilitycompanyorotherlegalentity.
“PlansandSpecifications”meanstheplansandspecificationsapprovedortobeapprovedbyLenderfortheProject.
“ProgramRequirements”means,collectively
‘TherequirementsoftheHousingProductionTrustFund,including,butnotlimitedto,theHousingProductionTrustFundActof1988,D.C.Law7-202,D.C.OfficialCode§42-2801etseq.(2001ed.)and10BDCMR Chapter41,boththestatutesandregulations,asmaybeamendedfromtimetotime(collectively,the“HPTFProgramRequirements”).
TherequirementsoftheSection8project-basedvoucherprogram,including,butnotlimitedto,theFederalandDistrictofColumbiaHousingChoiceVoucherProgramrulesandregulationsat24CFRPart982and983and14DCMR Chapters49,51,53,54,56,59,61,93and95.TheSection8project-basedvoucherprogramisadministeredbytheDistrictofColumbiaHousingAuthority.

TherequirementsoftheLocalRentSupplementProgram,including,butnotlimitedto,theFederalandDistrictofColumbiaHousingChoiceVoucherProgramrulesandregulationsat24CFRParts982and983,and14DCMR Chapters49,51,53,54,56,59,61,93and95.TheLocalRentSupplementProgramisadministeredbytheDistrictofColumbiaHousingAuthority.

TherequirementsofthePermanentSupportiveHousingProgram,whichprovidessupportivehousingforanunrestrictedperiodoftimeforindividualsandfamilieswhowereoncehomelessandcontinuetobeatimminentriskofbecominghomeless,includingpersonswithdisabilitiesasdefinedin24CFR§582.5,forwhomself-sufficientlivingmaybeunlikelyand

LoanAgreement(RevisedJan.2023) 54931-1667-9702,v.4
whosecarecanbesupportedthroughpublicfunds.SeeD.C.OfficialCode§4-751.01(28).AffordableUnitsthataresubjecttothePermanentSupportiveHousingProgramshallbeoperatedinaccordancewithHUD’sHousingFirstmodelandvacanciesshallbefilledthroughtheCoordinatedEntrySystem.ThePermanentSupportiveHousingProgramisadministeredbytheDistrictofColumbiaDepartmentofHumanServices.
TherequirementsoftheDistrictofColumbiaDepartmentofBehavioralHealthPermanentSupportiveHousingProgram,includingbutnotlimitedtoTheDepartmentofBehavioralHealthEstablishmentActof2013,D.C.Law20-61,D.C.OfficialCode§7-1141.01etseq.andthatcertainMemorandumofUnderstandingBetweentheDepartmentofBehavioralHealthandtheDepartmentofHousingandCommunityDevelopment,effectiveJune16,2014,asamended,thatprovidesforfinancingdevelopmentoflong-termsupportivehousingunitsintheDistrictofColumbiafortheexclusiveuseofDepartmentofBehavioralHealthconsumers.
TherequirementsoftheHOME InvestmentPartnershipsProgram,including,butnotlimitedto,theFederalrulesandregulationsat24CFR Part92andtheHOME Written
‘AgreementbyandbetweenBorrowerandLender,datedasofsubstantiallyevendateherewith.
0 ‘Therequirementsof theNationalHousing TrustFund Program,including,butnot
limitedto,theFederalrulesand regulationsat24 CFR Part93.
TherequirementsoftheCommunityDevelopmentBlockGrantProgram,including,butnotlimitedto,theFederalrulesandregulationsat24CFRPart570.
ia The requirementsof theSection108 Loan GuaranteeProgram,including,butnot
limitedto,the Federalrulesand regulationsat 24 CFR Part570, SubpartM and thatcertain
Contractfor Loan GuaranteeAssistanceunder Section108 of the Housing and Community
DevelopmentActof1974,asamended,42U.S.C.§5308etseg.,byandbetweenLenderand
HUD,dated (collectively,the“Section108ProgramRequirements”).
oO ‘Therequirementsof theHousing forOlderPersonsAct,including,butnotlimited
to,42 U.S.C § 3607 efseg.and theFederalrulesand regulationsat24 CFR Part100.
© TherequirementsoftheHousingOpportunitiesforPersonswithAIDSAct,including,butnotlimitedto,42U.S.C.§12901etseq.andtheFederalrulesandregulationsat24CFR Part574.
“Project”means,collectively,theImprovementslocatedortobebuiltonthePropertythatwillbefinancedwiththeLoanproceedspursuanttothisAgreement,andusedasarentalhousing
development.
“ProjectBudget”meansthesourcesandusesoftheProjectandthespecificusesoftheLoan proceedsthataresetforthinExhibitB attachedhereto.

“Property”hasthemeaning setforthintheDeedof Trust.
LoanAgreement(RevisedJan.2023) 64991-1657-8702,v.4
“QualifiedTenants”meansHouseholdswhosehouseholdincomequalifiesfortheincomelimitfortheparticularAffordableUnittheHouseholdisleasing,assetforthintheAffordableHousingCovenantandmeetsanyadditionalcriteriasetforthintheProgramRequirements.AQualifiedTenantshallincludeanyOver-IncomeTenantwhohasavalidwrittenleaseandwasingoodstandingattheProjectpriortothedateofthisAgreement.
“RegisteredAgent”meansCorporationServiceCompany,withanaddressat1090‘VermontAvenueNW,Washington,DC20005.
“Rent”meanstheoccupancychargeforeachhousingunitandanycommercialorretailspace,ifapplicable,intheProjectpursuanttoaproprietarylease,leaseorotheroccupancyagreementbetweenthetenantandBorrower.
“ReturnedFunds” hasthemeaning setforthinSection4.8.1.
“SatisfactionLetter”hasthemeaning setforthinSection4.7.9.
“SeniorLender”hasthemeaning setforthintheDeedof Trust.
“SeniorLoan”meansanyloanfromaSeniorLender,asevidencedbyapromissorynote,andotherinstruments,agreementsanddocumentsbyandbetweenBorrowerandSeniorLender,toevidence,secureorguaranteetherepaymentoftheSeniorLoan.
“SeniorLoan Documents” means allof the financingdocuments enteredintobetween
Borrower and theSeniorLendertoevidencetheSeniorLoan.
“Seventy-FivePercent(75%)Completion”meansthedateonwhichseventy-fivepercent(75%)oftheconstructionand/orrehabilitationoftheProject,andall improvements,havebeencompleted,ina goodandworkmanlikemanner,defect-freeandfreefrommechanic’sandmaterialmen’sliens,andinaccordancewithallapplicablelawsandcodes,thePlansandSpecifications,therelevantLoanDocumentsandallenvironmentalremediationlaws,asevidencedbyasignedcertificatefromtheArchitect,whichcertificatemaybeincludedaspartofthePaymentRequestdeliveredtoLender,indicatingthatseventy-fivepercent(75%)oftheconstructionand/orrehabilitationoftheProject,andallimprovements,havebeencompletedinaccordancewithallapplicablelawsandcodes,thePlansandSpecifications,therelevantLoanDocumentsandallenvironmentalremediationlaws.

“UCC”hasthemeaningsetforthinSection7.2.7.
“VAWA”hasthemeaningsetforthin1)a)i)(1)(@)(2)
Section2. Loan.
2.1. Generally.
2.1.1. UseandPurpose.BorroweragreestoborrowfromLender,andLenderagreestolendtoBorrower,theLoanproceeds;suchLoanproceedsshallbeusedbyBorrowerfor
LoanAgreement(RevisedJan.2023) 74931-1687-9702,v.4
theusesspecifiedintheProjectBudget,subjecttoSection2.2herein,andsubjecttoalloftheterms,provisionsandconditionsofthisAgreement.
2.1.2.ExpensesandDisbursementsSecuredbyDeedofTrust.TheLoanproceeds,Attorneys’FeesandCosts(ifany)andallotherLoanexpenses,asandwhendisbursedorincurredbyLender,willbesecuredbytheDeedofTrust.
2.2.MakingofPayments.Allpayments(includingprepayments)ofprincipalof,or
intereston,theLoan,shallbemadeinaccordancewiththetermsoftheNote.Allsuchpayments
shallbemadewithoutanyset-offorcounterclaim,andfreeandclearofanyrestrictionsor
conditions,andfreeandclearofandwithoutdeductionfororonaccountof,anypresentorfuture
taxes,levies,imposts,duties,charges,fees,deductionsorwithholdingsofanynaturenowofhereafterimposedbyanygovernmentalorotherauthority.
2.3.UseofLoanProceeds.IncompliancewithandsubjecttoalltermsofthisAgreement,LenderwilldisbursetheLoantoorfortheaccountofBorrower.BorrowershallprovidetoLenderacostbreakdown,intradeform,andloanbudget,whichshallbeapprovedbyLender,initssolediscretion.LendershalldisbursetheproceedsoftheLoan,solongasnoEventofDefault(definedherein)hasoccurredandiscontinuing,onlyforpurposesthatarepermittedbytheProgramRequitements,andfornootherpurposes.Furthermore,theLoanproceedsshallonlybeappliedtotheusesspecifiedintheProjectBudget,exceptasmaybemodifiedwiththepriorwrittenconsentofLender,whichconsentshallnotbeunreasonablywithheld,conditionedordelayed.
2. AdditionalFinancing.

2.4.1.ExceptfortheSeniorLoan(s)andlowincomehousingtaxcreditequity,Borrowershallnotreceiveanyadditionalfundsfromanysource,concerningthisProjectwithouttheexpresswrittenconsentofLender,exceptthatBorrowershallbepermittedtorefinancethebalanceoftheSeniorLoanatanytime,(j)fornotmorethantheoutstandingbalanceofprincipalandaccruedinterestandreasonableandnecessaryclosingcosts,(ji)foratermthatdoesnotexceedtheremainingtermoftheLoan,and(iii)upontermsthatLenderhasdeterminedascommerciallyreasonableandforwhichLenderhasprovideditspriorwrittenapprovalinaccordancewiththe
ProgramRequirements(whichapprovalshallnotbeunreasonablywithheld,conditionedor
delayed).

2.4.2.IftheLoanissubjecttotheSection108ProgramRequirements,neither
LendernorBorrowershallenterintoaninterereditororsubordinationagreementwithanother
lenderwithoutHUD’ priorwrittenapproval.
Sect

3. Reserved.
Section4. RequirementsandConditionsforLoanDisbursements.Lender'sobligationtomakeanydisbursementofLoanproceedsissubjecttoBorrower'ssatisfactionofthefollowingrequirementsandconditions,subjectinallrespectstoSection2.3:
4.1. InitialDisbursement:
4931-1667-9702,v.4
4.1.1.Ifapplicable,aninitialamountofLoanproceedsshallbedisbursedon
theClosingDateintheformofawiretofundcoststhatareapprovedbyLenderandeligibletobe
paidwithLoanproceedsasdeterminedatLender’ssolediscretion,regardlessofwhenthecosts
wereincurred.
4.1.2,Lender’sobligationtomaketheinitialdisbursementofLoanproceedsis
subjecttoBorrower'ssatisfactionofthefollowingrequirementsandconditionsunlesswaivedin
writingbyLender:
(1) Borrowermust obtain,atitssolecostand expense,and submittoLender
evidencethatithas satisfiedeach of theClosingConditions(assuch term
isdefinedinthe Loan Commitment), which shallbe subjectto Lender's
reviewand approval,bothas to substanceand form,and shallbe updated
and effectiveas of thedatehereof.
(2) OnorbeforetheClosingDate,Borrowershallhaveexecutedanddelivered
toLendertheLoanDocumentstobeexecutedbyBorrowerandallotherdocumentsandinstrumentsrequiredfromBorrowerandLenderinconnectionwith the Loan.
(3) LendershallhavereceivedanopinionofBorrower’scounseltotheeffectthatBorrowerisdulyorganizedandvalidlyexistingandingoodstandingunderthelawsofthestateofitsorganization,authorizedtodobusinessintheDistrictofColumbia,withfullpowertoowntheProjectandtoexecute,deliverandperformitsobligationsunderthisAgreement;thattheLoanDocumentsexecutedanddeliveredfortheLoanarevalidandlegallybindingandenforceableagainstBorrowerinaccordancewiththeirrespectiveterms,subjecttolawspertainingtobankruptcyandinsolvency;andopiningastosuchothermattersasmayberequiredbyLender.

(4 TherepresentationsandwarrantiessetforthinSection5shallbetrueand
correctinallmaterialrespectsonandasoftheClosingDate,andnoEventofDefaultshallthenexistunderthisAgreement.
(5) TheDeedofTrustandtherelatedUCCfinancingstatementsandallotherLoanDocumentsrequiringfilingorrecordationshallhavebeenfiledotrecordedintheappropriatepublicrecordsasnecessaryandappropriatetoevidenceandperfecttheliensandsecurityintereststherebycreated.
(6) SatisfythepaymentandproceduresrequirementssetforthinSections4.4.144.4,
4.2. Subsequent Disbursements:
4.24. Followingtheinitialdisbursement,Lendershallretainthebalanceofthe
Loan proceedstofundsubsequentdisbursementsinaccordancewiththeProjectBudget and the
ConstructionDraw Schedule,subjecttotherequirementssetforthinSections4.4and 4.5.

-4931-1687-9702,v.4
4.2.2. Lender willmake subsequentdisbursementsof the Loan proceedsto
Borrower intheformof an Automated ClearingHouse (ACH) payment.
4.2.3.LenderwillmakesubsequentdisbursementsoftheLoanproceedstoBorrowerinatimelymanner,subjecttotherequirementssetforthinSections4.4and4.5.
4.3. FinalDisbursement:TheconditionsforthefinaldisbursementofLoanproceeds
arefurtherdescribedinSection4.7,and Lender’sabilitytowithholda portionof fundsfrom the
finaldisbursementisfurtherdescribedinSection4.8.

4.4, Payment Procedures and Requirements: Borrower shallsubmit to Lender a
fullyexecuted,complete,andaccuratedisbursementordrawrequestpackage(the“PaymentRequest”),ashereafterdescribed,atleastthirty(30)daysbeforethedatefundingisbeingrequested.Paymentproceduresandrequirementsareasfollows:
4.4.1.Borrower’ssubmissionofthePaymentRequestmustdocumenteligiblecostsinaccordancewiththeProjectBudgetandConstructionDrawSchedule,asthesamemaybeadjustedfromtime-to-timeasconstructionprogresseswithLenderapproval,ifapplicable.
4.4.2.BorrowershallcreateandsubmitPaymentRequestsinanelectronicformat through the DC Vendor Portalor a successorsystem.The DC Vendor Portalisan online
systemthatallowsBorrower/vendortocreateandsubmitinvoicepackagesbyselectingtheapplicablepurchaseordernumber.AllBorrowers/vendorsmustberegisteredintheportalpriortoinvoicesubmission.Additionaldetailsandinstructionsareavailableontheportalwebsite.
4.43. EachPaymentRequestmustbesubmittedintheformofaproperinvoicepackagetoLender,includingallrequiredformsanddocuments,inaccordancewithLender’smostrecentpublishedguidelines.PerLender’spublishedguidelinesandinaccordancewithSection4.5,LendermayrequireadditionalsubstantiatingdocumentationbeincludedaspartofthePaymentRequestsubmittedthroughtheDC VendorPortalorsharedseparatelyutilizingLender'scloudplatformforconstructionperiodmonitoring.
4.44, EachPaymentRequestshallincludetheCertificationofBorrower'sRepresentationsandWarranties,attachedheretoatExhibitIandincorporatedherein,andshallbesubmittedthroughtheDC VendorPortal.ThePaymentRequestshallalsocontainalldetailsconcerningtheProjectwhichLenderreasonablyrequires,andadequatesupportingdocumentationtosubstantiateeveryexpenditurethatLenderisrequestedtofund.
4.4.5.IftheLoanproceedswillbeusedtofundconstructioncosts,thePaymentRequestmustincludeacopyoftheContractor’sapplicationforpaymenttoBorrower,signedbytheArchitectandconfirmedbyLender’sinspector,onnotarizedAIAFormsG702andG703orotherformsacceptabletoLender.TheContractor’sapplicationforpaymentshallbesubjecttotheSeniorLender’sretainagerequirements,asapplicable.
4.4.6.Disbursementsshallbemadewithinthirty(30)daysofLender'sreceiptofa properPaymentRequest.
LoanAgreement(RevisedJan.2023) 104931-1867-9702,v.4
4.4.7.Lendershallnotberequiredtodisbursemorefrequentlythanonceevery
thirty(30)days.
4.48. RegardlessofwhetherBorrowerisrequestingadisbursementofLoanproceedsforaparticularmonth,BorrowershallprovideLenderwithacopyofeachdisbursementordrawrequestsubmittedtotheSeniorLenderorotherfinancingpartiesonamonthlybasis.ThiscopyshallincludethemonthlyapplicationforpaymentfromtheContractoranddocumentationforallotherexpendituresforwhichfundingfromotherpartiesisbeingrequested.

4.5. Conditions Precedent to Subsequent Disbursements.Lender’sobligationto
make any disbursementshereundershallbe subjectto the proceduresand requirementsin
Sections4.4and Borrower'ssatisfactionofthefollowingconditions,asdeterminedby Lenderin
itssolediscretion:
4.5.1.ConfirmationthatanyoutstandingitemsontheDueDiligenceandClosingChecklisthavebeenprovidedtoLender,includingfinalexecutedandrecordeddocumentsthatwerenotavailableatthetimeofinitialdisbursement,Lendershallbeinreceiptofa final
electronicclosingbinder.
45.2. Lender has helda preconstructionmeetingfortheProjectand issueda
NoticetoProceedtoBorrowerand Contractor.
4.53.— FollowingFiftyPercent(50%)CompletionasdeterminedbytheArchitect,LendershallholdaFiftyPercent(50%)CompletionMeeting,TheFiftyPercent(50%)CompletionMeetingmustbeconductedtoLender’ssatisfactionandanyoutstandingcomplianceconcernsmustbeaddressedbeforeLendershallmake disbursementssubsequenttoFiftyPercent
(50%)Completion.

4.5.4,Fieldprogressmeetingsshallbeheldonaregularlyscheduledmonthlybasis.Borrower,Contractor,Architect,andallnecessarysubcontractorsshallagreeonthepercentageofworkcompletedandinplace,andtheamountofstoredandinsuredmaterialson-siteandoff-site.Borrowershallberesponsiblefornotifyingallofthepartiesaboveofthetimeanddateofthemeetinginadvance.IfLender'srepresentativeisunabletoattendinpersonorvirtuallytoitssatisfaction,LenderreservesarighttoinspecttheworkperformedforwhichadisbursementissoughtorotherwiseinspecttheconditionoftheProjectbeforeprovidingitsapproval.IfLenderisunabletocompleteaphysicalinspection,date-stampedphotographicevidenceand/orvideofootagethatverifiestheworkcompletedandbilledforinthePaymentRequestwillberequired,inaccordancewithLender’spublishedguidelines.
4.5.5.Lendershallhavereceivedsuchcertificationsofjobprogress,informsatisfactorytoLender,asLendermayrequest,whichshallincludethemostrecentconstructionprogressreportorconstructionmonitoringreport,asapplicable,meetingminutes,asummaryoftheProject'srecentlycompletedandupcomingconstructionactivities,anupdatedschedule,adescriptionofsignificantProjectissues,andtheproposedresolutionofsuchissues.RegardlessofwhetherLenderisbeingrequestedtodisbursefundingforhardcosts,Borrowerisexpectedtosubmitacopyoftheconstructionprogressorconstructionmonitoringreport,asapplicable,orminutestoLenderonamonthlybasis.Inaddition,Lendershallhavereceivedcopiesofallother
LoanAgreement(RevisedJan.2023) I4931-1667-9702,v.4
requestedreportsanddocuments,asavailable,requiredtosatisfyrequirementsofLenderandotherapplicablegovernmentalagencieshavingjurisdictionovertheProject.Inthisregard,Lendershallhavetherighttoinspectallbooks,recordsandaccountsrelatingtosuchwork,andmay,atitsoption,requireexecutionbyBorrowerandanycontractors,subcontractors,laborersandmaterialmenofsuchaffidavits,endorsementsandreleasesasLenderdeemsnecessary.
4.5.6.Lendershallhavereceiveda waiverandreleaseofliensfromtheContractor,acknowledgingreceiptofpaymentforpriorconstructionworkperformedandpaidoutofpriorLoandisbursementsandothersourcesoffunding.UnlesswaivedbyLender,BorrowershallalsodelivertoLenderwaiversandreleasesofliensfromallfirst-tiersubcontractorsandsuppliersthathavefurnishedlabor,material,orservicesincludedinallpreviousPaymentRequests,Inaddition,ifanymechanic’slienshavebeenfiled,BorrowershallhavegivennoticeandcopiesofsuchlienstoLender.
4.5.7.IfBorrowerrequestspaymentforanychangestotheapprovedPlansandSpecifications(the“ChangeOrder”),theChangeOrdershallhavebeenapproved:(i)priortoSeventy-FivePercent(75%)Completion,bytheSeniorLenderbeforeanydisbursementofLoanproceeds;and(ii)afterSeventy-FivePercent(75%)Completion,approvedbybothLenderandtheSeniorLenderbeforeanydisbursementofLoanproceeds.IfBorrowerrequestspaymentofsoftorothercostsfromotherProjectcontingenciesorlineitemsavings(“OtherContingeneyUse”),therequestmustbeapprovedbyLenderafterSeventy-FivePercent(75%)Completion.IfrequestedbyLender,BorrowershallfurnishallnecessaryChangeOrderandOtherContingencyUsedocumentation.Notwithstandingtheforegoing,LenderreservestherighttoreviewandapprovethescopeandcostofanyChangeOrderandOtherContingencyUse,regardlessofwhentheChangeOrderandOtherContingencyUse,asapplicable,wasincurredandregardlessofwhethertheChangeOrderandOtherContingencyUse,asapplicable,istobefundedwithLoanproceedsorothersources.LenderalsoreservestherighttowithholddisbursementofLoanproceedsifLenderdetermines,initssolediscretion,thattheProjectcannotbecompletedinaccordancewiththeapprovedPlansandSpecificationswiththeundisbursedportionoftheLoanandother
constructionsourcesoffunds.
4.5.8.IfrequestedbyLender,BorrowershallprovideexecutedsubcontractsoranyothersupplementaldocumentsdeemednecessarytoverifythePaymentRequest.
489. UnlesswaivedbyLender,adate-downtoitstitlepolicyatthetimeofdisbursement,ensuringthecontinuedpriorityoftheDeedofTrustandtheabsenceofanyencumbrancesnototherwiseconstitutingaPermittedEncumbrance(assuchtermisdefinedintheDeedofTrust)orpermittedunderthetermsofthisAgreement,togetherwithsuchendorsementLendermayreasonablyrequire.
4.5.10.IfrequestedbyLender,BorrowershallprovideupdatesonitseffortstocomplywithapplicableFederalandlocalhiringandcontractingrequirements.
4.5.11. No Event of Default,nor any eventor stateof facts,which withnotice
or passageoftimeor bothwould constitutean Event of Default,shallthenexistundertheLoan
Documents.
LoanAgreement(RevisedJan.2023) 1214931-1657-9702,v.4
4.6. Retainage
4.6.1,BorrowerisrequiredtocomplywiththegeneralretainagerequirementsrequiredbytheSeniorLenderandtheConstructionContract.
4.6.2. The LenderRetainageshallbe releasedinthefinaldisbursementofLoan
proceedsupon satisfactionof the conditionsspecifiedinSection4.7.
4.6.3.Notwithstandingtheforegoing,Lender,initssolediscretion,mayreducetheoriginalLenderRetainageamountbyfiftypercent(50%)onlyaftertheFiftyPercent(50%)CompletionMeetinghasbeenconductedtoLender’ssatisfactionandanyoutstandingcomplianceconcernshavebeenaddressedtoLender’ssatisfaction.
4.64, Lender'sdisbursementoftheLenderRetainageissubjectinallrespectstotherequirementssetforthinSections4.7and4.8.

4.7. Addi |_Conditions for Final Disbursement. In addition to all other
conditionssetforthinthisSection4,Lender'sobligationtomakethefinaldisbursementoftheLoanproceeds,includingreleaseoftheLenderRetainage,shallbesubjecttoLender'sreceiptof
thefollowing:
471. Confirmationthatthe followingmattershave been addressedto the
satisfactionof the Lender’sOfficeof Program Monitoring(“OPM”):
(1) AllcertifiedpayrollsrequiredbyDavis-BaconandtheRelatedActshavebeensubmittedtoLender,andallsubcontractsdemonstratecompliancewithoutanyunresolvedwagevariancesorrestitution.
(2) Finalaccessibilityinspectionsforaccessibleunitsandcommonspaceshave
beenconductedbyOPM.
(3) AllrequiredSection3reportshavebeensubmittedandapprovedbyOPM.
(4) TherearenooutstandingcrosscuttingcomplianceviolationsforDistrictextemalagenciessuchasFirstSource,apprenticeship,minimumwageandCertifiedBusinessEnterprises.
4.7.2.UpdatedForm202,includingcomparisontotheProjectBudgetasoftheClosingDate.IfrequestedbyLender,satisfactoryChangeOrderandOtherContingencyUsedocumentationmustalsobesubmitted.
4.7.3. DraftthirdpartycostcertificationsfortheProjectfrom Borrower and
Contractor.
4.7.4.Completionofa final,in-personsitevisitbyLender’sinspectortoconfirmallworkwascompletedinaccordancewithapprovedPlansandSpecifications.FinalapprovaloftheProjectinaccordancewiththePlansandSpecifications,asbuilt,isrequired.
LoanAgreement(RevisedJan.2023) 13,4931-1667-9702,v.4
4.7.5. A completedand notarizedContractor'sCertificateand ReleaseForm
from Borrower.
4.7.6.FinalwaiversandreleasesofliensfromtheContractorandfirst-tiersubcontractorsandsuppliersthathavefurnishedlabor,material,orservicestoProject.ConditionallienreleasesareacceptableincaseswherependingpaymentswillbemadeuponreleaseoftheLenderRetainage.
4.7.7.Theissuanceofafinalortemporarycertificateofoccupancyfortheintended,fundeduseoftheProject.
4.78. Architect’CertificateofSubstantialCompletion(AIAG-704)withcorrespondingpunch-lists

4.7.9.A letterof satisfactionfromtheArchitectandBorrowerforsatisfactorycompletionoftheProject(the“SatisfactionLetter”).TheSatisfactionLettershallaffirmthatthepunch-listitemsassociatedwiththeAIAG-704havebeensatisfied,oradequatefundsreasonablynecessarytopaythecostsofcompletionofremainingpunch-listitems,ifany,asdeterminedbytheSeniorLender,shallhavebeenescrowedinaccordancewiththeSeniorLender’srequirements.Inaddition,theSatisfactionLettershallconfirmthatcertifiedwarrantiesandrelateddocumentsrequiredbytheConstructionContracthavebeenprovidedbytheContractor.

4.7.10.Copiesofallpermittradeinspectionsign-offapprovals,inclunotlimitedto,electrical,plumbing,mechanical,structuralandfiresafety.
2,but
4.711.DocumentationthattheProjecthasbeenregisteredontheHousingLocatorWebsite(assuchtermisdefinedintheAffordableHousingCovenant).
4.7.12.EnterpriseGreenCommunitiesStep2 Certificationorcomparable
documentationacceptabletoLender.
4.7.13.Receiptofthefinalas-builtPlansandSpecificationscertifiedbytheArchitectandengineerofrecord.
4.7.14.Receiptofanas-builtsurveyacceptabletoLender,unlesswaivedbyLender.
4.7.15.CopiesofsuchadditionalpermitsandlicensesforoperationoftheProject,including,butnotlimitedto,thebusinesslicenseforBorroweranditsmanagementcompany,asmaybenecessaryorrequiredbyanAuthority.
4.7.16. Performance of allother obligationsof Borrower under the Loan
Documents.
4.7.17.ConfirmationthattheProjectiscurrentlycomplyingorhascompliedwithapplicableinitiallease-upincomecertificationandtenanteligibilityrequirementssetforthbyLender’sPortfolioandAssetManagementDivision.
LoanAgreement(RevisedJan.2023) 144931-1687-9702,v.4
4.8. FinalAdjustment toLoan AfterClosing
4.8.1. LenderandBorroweracknowledgeandagreethatLenderismakingtheLoantoprovidegapfinancingtoensurethecompletionoftheProjectand,therefore,atLender'sdiscretiontheLoanmaybereduced,orLendermayrequirerepaymentoftheLoan,asfollows:
a)
Q)
GB)
@
Ona dollar($1.00)fordollar($1.00)basisforfundsthatwereusedforatemporarypurposetotheextentthatsuchfundsareorwillbesubsequentlyreturnedtoBorrower(the“ReturnedFunds”),Suchfundsincludebutarenotlimitedto:refundeddeposits,financingfeesrequiredbyDistrictagencies,lenders,orotherparties.
Ona fiftycents($0.50)foreverydollar($1.00)basisforanyothernetreductionintotalcostsshownintheProjectBudgetduetounspentcontingencyfunds,unspentshort-termreservesorotherbudgetsavings(the“CostSavings”),unlesstheCostSavingsareutilizedtocoveranunanticipateddecreaseinotherProjectsourcesasreflectedinanamendedProjectBudget.Theremainingfiftypercent(50%)ofCostSavingsshallbeappliedinaccordancewiththeSeniorLoanDocumentsorthetermsoftheOperatingAgreement,asapplicable.
Ona fiftycents($0.50)foreverydollar($1.00)basisforanyincreaseinfundingthatiscommittedtotheProjectaftertheClosingDateoverandabovethefundingsourcesshowninthefinalProjectBudget,unlesstheincreaseinfundingisobtainedfroma non-LendersourcetocoveranunanticipatedincreaseinthecostsoftheProjectoradecreaseinothersourcesavailablefortheProjectasreflectedinanamendedProjectBudget,(the“IncreasedSources”).Theremainingfiftypercent(50%)oftheIncreasedSourcesshallbeappliedinaccordancewiththeSeniorLoanDocumentsorthetermsoftheOperatingAgreement,asapplicable.
BorrowershallcalculateanyReturnedFunds,CostSavings,andIncreasedSources(collectively,“ExcessProceeds”)andnotifyLenderoftheanticipatedloanreductionamount(the“DraftLoanReductionCalculation”)priortorequestingitsfinaldisbursementfromLenderbysubmittingadraftLoanReductionCertificate.IftheDraftLoanReductionCalculationislessthantheremainingLenderRetainage,LenderreservestherighttowithholddisbursinganequalportionoftheremainingLenderRetainage,unlessBorrowercandemonstratethatdoingsowouldresultinaconstruction/stabilizationperiodfundinggapfortheProject.IftheDraftLoanReductionCalculationexceedstheremainingLenderRetainage,LenderreservestherighttowithholddisbursingallofitsremainingLoanproceeds,includingtheremainingLenderRetainage,unlessBorrowercandemonstratethatdoingsowouldresultinaconstruction/stabilizationperiodfundinggapfortheProject.
LoanAgreement(RevisedJan.2023) 15-4931-1667-9702,v.4
(5) BorrowershallupdatetheDraftLoanReductionCalculationbysubmittinga revisedLoan Reduction Certificate(the “Final Loan Reduction
Calculati ”)withtheBorrower'srequestforaUnitedStatesDepartmentoftheTreasuryInternalRevenueServiceLow-IncomeHousingCreditAllocationandCertification(Form8609).

4.8.2.IftheFinalLoanReductionCalculationpursuanttothissectionexceedstheremainingLenderRetainage,orifthefullamountofLenderRetainagehaspreviouslybeenreleased,thenetamountofExcessProceedsduetoLendertoreducetheLoanshallbepaidwithinninety(90)daysofissuanceoftheForm8609andthefinalexecutedLoanReductionCertificateshallbedeliveredonthesameday.4.8.3.Notwithstandingtheforegoing,anyloanreductionunderthissectionthat,ismadeafterLoanClosingbutpriortofulldisbursementoftheLoanproceedsshallbesubjecttotheconsentandapprovaloftheSeniorLender,EquityInvestor,andotherfinancingparties,as
applicable.
4.9. InsufficiencyofLoanProceeds.IfatanytimeduringthetermofthisAgreement,
LenderdeterminesthattheremainingundisbursedLoanproceedsareinsufficientforanyreasontocompletetheProjectsubstantiallyinaccordancewiththePlansandSpecifications,Borrowershall,withinten(10)daysafterreceiptofNoticethereof(includingastatementofthebasisforsuchinsufficiency)fromLender,depositwithLenderoritsdesigneesuchsumsofmoneyincash(fromsourcesotherthantheLoan)asreasonablyarerequiredtoeliminatetheinsufficiency.AnyamountsodepositedbyBorrowershallstandasadditionalsecurityforBorrower'sobligationsunderthisAgreement,andmaybedisbursedatLender’soptionbeforeanyfurtherLoandisbursementsaremadehereunder.

4.10. Authorized Disbursements.Notwithstandingany otherterm of thisSection4,
BorrowerherebyirrevocablyauthorizesLender,atLender’soptiontomake disbursementsofLoan
proceeds(i) jointlyto Borrower,Borrower’sconstructionmanager and to any contractoror
materialmenfurnishinglabor,servicesor materialsin the constructionof the Projectforany
amountsduetheminconnectiontherewith,or(ii)directlytoLenderforinterest,feesandanyother
amountsrequiredtobepaidtoLenderundertheNoteortheotherLoanDocuments.No further
authorizationfrom Borrowershallbe necessaryforLendertomake suchdirectdisbursements,and
allsuchdisbursementsshallsatisfypro tantoLender’sobligationhereunderand shallbe secured
bytheDeedofTrust.
4.11,DisbursementsNotaWaiver.NodisbursementofanyLoanproceedsbyLendershallconstituteawaiverofanyoftheconditionsfordisbursementcontainedinthisAgreement,oranobligationofLendertomakefurtherdisbursements.IfBorrowerisunabletosatisfyanysuchcondition,nosuchdisbursementshallhavetheeffectofprecludingLenderfromthereafterdeclaringthatinabilitytobeanEventofDefault.

4.12. Stored Materials. No disbursements will be made for materialsthat are not
physicallyincorporatedintotheProject,otherthanformaterialsactuallydeliveredtotheProjectsiteoroff-site,andstoredinaplace,securedandinsuredagainsttheft,vandalismandotherdamage,allinamannersatisfactorytoLender.
LoanAgreement(RevisedJan.2023) 164931-1067-9702,v.4
4.13,NoEserow.AnyandallLoanproceedsdisbursedtoBorrowerinaccordancewiththisAgreementmustbeplacedina non-interestbearingaccountandmustbeexpendedinaccordancewithSection4.InnoeventshallBorrowerescrowtheLoanproceeds.
Section 5. Representations and Warranties. Borrower representsand warrantstoLender as
ofthedatehereof,andshallbedeemedtorepresentandwarrantasofthedateitsubmitsanydisbursementrequesttoLenderhereunder,that:
5.1,Status.BorrowerisaPersoningoodstandingunderthelawsoftheDistrictofColumbia.AllrepresentationsandwarrantiesmadebyBorrowerintheotherLoanDocumentsaretrue,completeandcorrectwhenmade.
5.2.Authority,BorrowerhasthepowerandauthoritytoenterintoandexecuteanddeliverthisAgreementandeachotherLoanDocumentexecutedanddeliveredbyit,andtoincurandperformtheobligationsprovidedforhereinandtherein(includingborrowingandguaranteeing
theLoan,asapplicable),allofwhichhavebeendulyauthorizedbyallproperandnecessaryaction
andallmaterialgovernmentallicenses,authorizations,consentsandapprovalsrequired.NoconsentorapprovalofanyotherPersonorAuthorityisrequiredasaconditiontothevalidityorenforceabilityofthisAgreementoranyofsuchotherLoanDocuments,orifrequiredithasbeenobtained.

5.3.NoConflictingAgreements,Thereis(a)noprovisionofanyexistingmortgage,pledge,lien,securityinterest,charge,encumbrance,contractoragreementbindingonBorroweroraffectingitspropertynoranyjudgment,decree,ororderofcourtbindingonBorrower,and(b)tothebestknowledgeofBorrower,nolaw,statute,ruleorregulationbindingonBorroweroraffectinganyofitsproperty,whichwouldconflictwithorinanywaypreventtheexecution,deliveryorperformanceofthetermsofthisAgreementorofanyotherLoanDocumentexecutedanddeliveredbyBorrower,orwhichwouldbeindefaultorviolatedasaresultofthatexecution,deliveryorperformance.
54, gation.Thereisno litigation,proceedingorinvestigation,pendingorthreatenedinwriting,whichmayresultinanymaterialandadversechangeinthefinancialcondition,assets,liabilities,businessorprospectsofBorrower,andBorrowerdoesnotknowofanybasisforanysuchlitigation,proceedingorinvestigation.

5.5.FinancialInformation.AllfinancialinformationheretoforefurnishedtoLenderconcerningBorroweriscompleteandcorrectinallmaterialrespects,andfairlypresentsBorrower'sfinancialpositionasofthedatethereof.Therearenoliabilities,directorindirect,fixedorcontingent,ofwhichBorrowerisawareexceptasreflectedtherein.TherehasbeennomaterialadversechangeinBorrower'sfinancialconditionoroperationssincethedatesofthosefinancialinformation(andtoBorrower'sknowledge,nosuchmaterialadversechangeispendingorthreatened),andBorrowerhasnotguaranteedtheobligationsof,ormadeanyinvestmentinoradvancesto,anyPersonexceptasdisclosedinsuchinformation.Borrowerhasgoodandmarketabletitletoallofitspropertiesandassets,freeandclearofencumbrances(otherthanaspermittedbyLender),exceptasreflectedinthatinformation.

LoanAgreement(RevisedJan.2023) 74931-1657-9702,v.4
5.6._Receivership.Therearenoactionsorproceedingspendingorthreatenedagainst
Borrower,tothebestofBorrower'sactualknowledge,toliquidateorreorganizeitorplaceitinto
receivership.
5.7.TaxReturns.Borrowerhasfiledorcausedtobefiledall(ifany)requiredFederal,
stateandlocaltaxreturns,andpaidalltaxesshownonthereturnsassuchtaxeshavebecomedue.
Noclaimshavebeenassessedandareunpaidwithrespecttosuchtaxes,exceptasshowninthe
financialinformationreferredtoabove.

5.8.LiensonProperty.Thereexistsnomortgage,pledge,lien,securityinterest,charge
orotherencumbrances(exceptaspermittedbyLender)onorwithrespecttotheProperty.
5.9.Utilities.Allutilityservicesnecessaryfortheconstructionandoperationofthe
ProjectforitsintendedpurposesareorwillbeavailableattheboundariesoftheProperty,including
watersupplyofsufficientquantityandpressure,stormandsanitarysewerfacilitiesofadequate
capacities,gas,electricandtelephonefacilities.Borrowerhasprocured,orherebyagreestouseits
besteffortstoprocure,fromtheDistrictofColumbia,andotherauthoritiesandcorporations,
connectionanddischargearrangementsforthesupplyofwater,gas,electricityandotherutilities
andsewageandindustrialwastedisposalfortheoperationoftheProject.

5.10.Roads.AllroadsnecessaryforthefulluseoftheProjectforitsintendedpurposes
haveeitherbeencompletedorthenecessaryrightsofwaythereforhaveeitherbeenacquiredby
BorrowerortheappropriateAuthorityorhavebeendedicatedtopublicuseandacceptedbysuch
AuthorityorwillbesoacquiredordedicatedwithinaperiodoftimesatisfactorytoLender,and
allnecessarystepshavebeentakenbyBorrowerandsuchAuthoritytoasstirethecomplete
constructionandinstallationthereofinaccordancewithlawandallapplicablegovernmental
requirements.

5.11,ZoningandLandUse.TheProject,andtheuseoftheProjectforitsintendeduse,
willnotviolateanyzoningorotherordinance,regulationorlaw,restrictivecovenantoragreement
ofBorrower(eithernowinexistenceorknownbyBorrowertobeproposed)applicabletothe
Property,theProjectoritsuse,andallrequirementsforsuchusehavebeensatisfied.Borrower
shallnotinitiate,joinin,orconsenttoanychangeinanyrestrictivecovenant,easement,zoning
ordinanceorotherpublicorprivaterestrictionlimitingordefiningtheuseswhichmaybemade
oftheProperty,theProjectoranypartthereof.
5.12.CostBreakdown,Thecostbreakdown(intradebreakdownform)fortheProject
suppliedtoLenderiscompleteandaccurateasofthedatehereof,basedonallinformationnow
availabletoBorrower,andBorrowerhasnoknowledgeofanymaterialchangeintheamount
shownthereonwhichislikelytooccur.

5.13.OFACList,Borrower,andtothebestofBorrower’sknowledgeafterhavingmade
diligentinguiry,andallpersonsorentitiesowninganinterestinBorrower(i)arenotcurrently
identifiedontheUnitedStatesOfficeofForeignAssetsControl(“OFAC”)List,and(ii)atenot
personsorentitieswithwhomacitizenoftheUnitedStatesisprohibitedtoengageintransactions
byanytradeembargo,economicsanction,orotherprohibitionofUnitedStateslaw,regulation,or

LoanAgreement(RevisedJan.2023) 18
4931-1667-9702,v.4
ExecutiveOrder of the Presidentof the United States.The OFAC Listcurrentlyisaccessible
throughtheinternetwebsitehttp://www.treas.gov/offices/eotffe/ofac/sdn/t11sdn.pdf.
Section6. Covenants.Borrowercovenantsandagreesthat,aslongasanypartoftheLoanremainsunpaid,Borrowerwill:
6.1.ConstructionofProject.CausetheProjecttobecompletedsubstantiallyinaccordancewiththefinalPlansandSpecificationsonorbeforetheCompletionDate,freeandclear
ofallliensotherthantheDeedofTrustandthePermittedEncumbrances.Borrowershallnot
permitanymaterialchangesinthePlansandSpecificationswithoutthepriorwrittenconsentofLenderandallauthoritiestowhomsuchPlansandSpecificationsarerequiredtobesubmitted.
6.2.Insurance.AtalltimesduringthetermofthisAgreement,Borrowerwillmaintain
atitssolecostandexpense,forthemutualbenefitofBorrowerandLender,alloftheinsurance
specifiedinExhibitH,andwillnotpermitanyconditiontoexistonthePropertythatwouldinvalidateanypartofanyinsurancecoveragerequiredunderthisAgreement.
6.3.Accounting/AuditRequirements,MaintaincompleteandaccuraterecordsanddocumentationofallcostsincurredundertheLoaninaccordancewiththeinstructionsofLenderandorganizedinamannerthatidentifiescostcategoriesintheitemizedbudget.
6.4,Inspection.PermitLender,itsagentsandLender’sinspectortoenteronthePropertyatallreasonabletimesandasoftenasmaybereasonablyrequested,toinspecttheProjectandallmaterialstobeusedinconnectionwiththeconstructionthereof,andtoexaminealldetailedplansanddrawingswhichareormaybekeptattheconstructionsiteandaccesstothebooks,recordsandsuchotherdocumentsofBorrowerasLendershallreasonablyrequiretoinspect,auditandexaminethesameandtomakeextractstherefromandtomakecopiesthereof.Furthermore,throughouttheLoanTerm,BorrowermustbepreparedforandfacilitatemonitoringbyLenderincompliancewithFederalandDistrictrequirements,including,butnotlimitedto,thefollowing:creating,storingandmaintainingallProjectrecordsinaccordancewithLender'srequirements;permittingdeskmonitoring,sitevisits,andaudits;andpermittingallinspectionsoftheProjectrecordsasLenderdeemsnecessarytoensuretheupkeepandoperationoftheProjectincompliancewithDistrictandFederallaws.
6.5. MaintenanceandRepair.KeepandmaintaintheProjectandeachpartthereofin
goodcondition,workingorderandrepair,makeallnecessaryorappropriaterepairs,replacementsandrenewalstheretosothateachpartthereofisatalltimesingoodcondition,fitandproperfortherespectivepurposesforwhichitwasoriginallyintended,erected,orinstalled,andtoensurethatthesecurityfortheLoanisnotimpaired,andmakeallnecessaryotappropriatedepositstoareplacementreservefortheProject.

6.6.Obstructions.UseitsreasonableeffortstokeepandmaintainallpartsoftheProjectandthesidewalks,curbsandpassagewaysadjoiningitinacleanandorderlycondition,freeofdirt,rubbish,snow,iceandunlawfulobstructions.

6.7.Permits,Licenses.Procureorcausetobeprocured,anyandallnecessarypermits,certificates,licensesorotherauthorizationsrequiredforuseoftheProjectasrentalhousing,and

‘LoanAgreement(RevisedJan.2023) 19
4991-1687-9702,v.4
complywithallconditionsandrequirementsnecessarytopreserveandextendallrights,licenses,
permits,privileges,franchisesandconcessionsnoworhereafterapplicabletotheProject.
6.8,StructuralInjury,Nuisance,WasteandOtherProhibitedUses.Notuseor
occupytheProjectorpermitittobeusedoroccupiedinanymannerwhichwouldcausestructural
injurytotheProject,causethevalueortheusefulnessoftheProjectoranypartthereoftodiminish
(ordinarywearandtearexcepted),orconstituteapublicorprivatenuisance,orwaste.
6.9,CompliancewithLaws.NotuseoroccupytheProjectorknowinglypermititto
beusedoroccupiedcontrarytoanyuniformlyapplicablelawsaffectingtheProjectandthe
occupancy,operationorusethereof,whetherornotanysuchlawswhichmaybehereafterenacted
involveachangeofpolicybytheAuthorityenactingthem.
6.10. Reporting.
6.10.1.AuditedFinancialStatements.Withinone-hundredtwenty(120)days
aftertheendofeachFiscalYear,theauditedbalancesheetofBorrowerforsuchyear,andthe
relatedauditedstatementsofincome,retainedearningsandcashflowsforsuchyear,eachsetting
forthincomparativeformthefiguresforthepreviousFiscalYear,inreasonabledetailandall
preparedinaccordancewithgenerallyacceptedaccountingprinciples,consistentlyapplied,
applicableOfficeofManagementandBudgetguidelines,andanyotherapplicableFederalor
Districtauditrequirements,withoutqualification,byanindependentcertifiedpublicaccountantacceptabletoLender.
6.10.2. SupplementalAnnual Submission.Togetherwiththeauditedfinancial
statement,BorrowershallsubmitthefollowinginformationfortheProject:
(1) EvidenceofcommercialpropertyinsurancewithLenderlistedasanadditionalinsured;
(2) EvidenceofliabilitypropertyinsurancewithLenderlistedasanadditional,
insured;
(3) Copyofreserveaccountstatements,ifapplicable;
(4) Evidenceofpaymentofrealestatepropertytaxes;
(5) Copyofcurrentbusinesslicense;
(6) Projectoperatingstatements;
(7) AnnualOwnerCertification;and
(8) NetCashFlowCalculationWorksheet.
6.10.3.‘TaxReturns.Withinthirty(30)daysoftheapplicablerequiredannual
filingdate,includinganystandardextensionsforwhichBorrowermayhavevalidlyfiledand
copiesofwhichareprovidedtoLender,completecopiesofallFederalandstatetaxorinformation
LoanAgreement(RevisedJan.2023) 204931-1667-9702,v.4
returnsofBorrower(includingformK-1sandallschedules),certifiedastrueandcorrectbythe
principalfinaneialoraccountingofficerofBorrower.
6.10.4.InternalFinancialStatements.Uponthirty(30)days’priorwrittenrequestfromLender,Borrower'sinternalconsolidatedfinancialstatementsforthepreceding
financialquarterpreparedbyBorrowerandcertifiedbyBorrower'sprincipalfinancialor
accountingofficer,includingastatementofactivities,astatementoffinancialposition,astatement
ofcashflow,abreak-downofgrossleaserevenues,andduringconstruction,areconciliationof
expenditurespaidwithLoanproceeds.
6.10.5.AffordableHousing.Uponthirty(30)days’priorwrittenrequestfromLender,(i)anyinformationabouttheleasingandoccupancyoftheAffordableUnits,includinga
rentrollfortheProject,summarizingthetermsofallresidentialleasesandtheHouseholdincomes
ofthetenants,asoftheendofDecemberoftheprioryearnolaterthanMarch1 ofeachyear,or
morefrequentlyasreasonablydeterminedbyLender;and(ii)anyotherinformationthatmaybe
requiredtomeetDistrictand/orFederalreportingrequirements,includingbutnotlimitedto,informationonhouseholdsize,age,income,sex,andraceorethnicityofalloccupantswhoreside
inAffordableUnits.
6.10.6.AdditionalFinancialInformation.Uponthirty(30)days’priorwritten
requestfromLender,anyadditionalinformationnecessarytoevaluatethefinancialpositionofthe
Project,asreasonablydeterminedbyLender.

6.10.7.OngoingProjectUpdates.Uponfive(5)days’priorwrittenrequestfromLender,provideLenderwithregularProjectupdates.
6.11,RecordsandRetention,Keepandmaintainatalltimescompleteandaccuratebooksofaccountandrecords(includingcopiesofsupportingbillsandinvoices)adequatetoreflectcorrectlytheoperationoftheProjectorthePropertyandtheuseoftheLoanproceedsandcopiesofallwrittencontracts,leases,andotherinstrumentswhichaffecttheProjectortheProperty.Keeprecordsforaperiodoffive(5)yearsfromthedatethatsuchrecordsaregenerated.Ifanylitigation,
claimoraudithasbegunbeforetheexpirationofthe5-yearretentionperiod,therecordsshallbe
retainednolessthanfive(5)yearsafteralllitigation,claims,auditsormonitoringfindingsinvolvingtherecordshavebeenresolvedandfinalactiontaken.
6.12.PaymentofObligations,Payanddischargeatorbeforematurityallitsmaterial
obligationsandliabilities,includingtaxliabilities,theexpensesoftheProject,andclaimsforlabor,
materials,andsuppliesthat,ifunpaid,mightbecomeliensonthepropertyofBorrower,exceptthosebeingcontestedingoodfaithbyappropriateproceedings.
6.13.Notices.PromptlygiveNoticetoLenderof(i)alllitigationaffectingBorrower,the
Property,oranyportionoftheProject,and(ii)allcomplaintsandchargesmadebyanyAuthority
havingjurisdictionovertheProjectwhichmaymateriallydelayorrequirematerialchangesintheconstructionoftheProjectorotherwiseimpairthesecurityofLender.

6.14.FurtherAssurances,OnrequestbyLender,doanyactorexecuteanyadditionaldocuments(includingsecurityagreementsandfinancingstatementsonanypersonaltyownedby
LoanAgreement(RevisedJan.2023) 214991-1667-9702,v.4
BorrowerandincludedortobeincludedintheProject)reasonablyrequiredbyLendertoconfirmthelienandsecurityinterestoftheDeedofTrust,oranyothercollateraldocument.
6.15.FeesofLender’sAgents.PayAttorneys’FeesandCostsandthereasonablefeesofLender’sagents,ifany,inconnectionwiththeProjectortheLoan.
6.16.PerformanceofOtherAgreements.Jointlyandseverally,dulyandtimelyperformandobserveallcovenants,agreementsandconditionsonitsparttobeperformedorobservedinallmaterialrespects.
6.17.AcknowledgementofLenderFinancing.
(@) AllowLenderto,orasreasonablyapprovedbyLender,placesuitablesignageindicatingthattheProjectisbeingdevelopedwithfinancialassistanceprovidedbyLenderinsuchmannerasLendermayelect.AnysuchsignshallbeprovidedattheexpenseofLender;provided,however,thatifLenderprovidesasigntoBorrower,thenBorroweragreestoprovideaprominent
andsuitablelocationofthedisplayofthesignandtomaintainthedisplayofsuchsignforthedurationofdevelopmentoruntiltheLoanhasbeenfullysatisfied,whichevereventshalloccur
first.
(6)_ EnsurethatallwrittenorprintedmaterialsdistributedorpostedbyBorrower,whichpublicizetheProject,shallincludeinformationthattheProjectisbeingfunded,partiallyorfully,throughLender.Further,announcementofalleventsthatpublicizetheProjectshallacknowledgefundingby Lender.Thismayinclude,butisnotlimitedto,socialmedia,newspaperannouncementsoradvertisements,flyers,postings,anyradioandtelevisionannouncements.

6.18.PropertyManagement.AtalltimesduringthetermofthisAgreement,BorrowershallenterintoamanagementcontractwithaDistrictlicensedprofessionalmanagementcompanyfortheProject,cancelableonsixty(60)days’notice,andotherwiseinformandsubstancesatisfactorytoLenderinitsreasonablejudgment.BorrowershallnotifyLenderatleastsixty(60)daysinadvanceofanychangeinmanagementandshallprovideLenderwithacopyoftheproposedmanagementagreementforLender’sreviewandapprovalpriortoBorrower’sexecutionthereof.Suchapprovalshallnotbeunreasonablywithheld,conditionedordelayed.Theproposedsuccessormanagershallbea managementcompany,ingoodstandingwiththeDistrictofColumbia,andexperiencedinmanagingpropertiesofa similartypeandsizeastheProject.Theproposedsuccessormanagershalldeliverallorganizationaldocumentsandotherdocuments,upon
therequestofLender,regardingthemanager'ssuitabilitytomanagetheProject.AnysuccessormanagementcontractenteredintobyBorrowershallbeapprovedbyLender,suchapprovalshallnotbeunreasonablywithheld,conditionedordelayedandshallprovidethatitshallbesubjecttotermination,withoutpenalty,uponwrittenrequestbyLender,addressedtoBorrowerifthepropertymanagerfails,afterbeingprovidedfundsthereforefromBorrower,totakeactiontocureanymaterialdefaultunderthepropertymanagementcontractwithinsixty(60)days’noticethereofbyLenderwithacopytoBorrower.Intheeventofanemergencysituation,thesixty(60)daynoticeperiodshallbeshortened,atLender’sreasonablediscretion.Uponreceiptofarequesttoterminatethemanager,Borrowershallterminatethemanagementcontractnolaterthansixty(60)daysfromthedateofthenotice,providedthat(i)Lenderhasapprovedofa newmanagerand
LoanAgreement(RevisedJan.2023) 224931-1667-9702,v.4
managementcontract,(i)thechangewillnotresultintheProjectbeingwithoutamanagerforanyperiodoftime,and(iii)BorrowerhasreceivedthepriorwrittenconsentoftheSeniorLender.
6.19. AffordabilityCovenants.
(@) ComplyinallrespectswiththeAffordableHousingCovenantandrentandmaintaintheAffordableUnitsinaccordancewiththeAffordableHousingCovenant.
(6) MaintainaccuraterecordsofthetenanthouseholdincomesandrentlevelseachtimethatanAffordableUnitisrented,andrentrollsupdatedonamonthlybasis,andavailableforinspectionbyLenderwithinten(10)daysofLender’srequesttherefore.
(c) Registerany availableAffordable Unit with the Housing Locator website
establishedpursuanttotheAffordableHousing ClearinghouseDirectoryAct of2008, D.C. Law
17-215,D.C. OfficialCode § 42-2131 etseg.and shallactivelyseek to market vacantunitsto
householdsreferredby theDistrictof Columbia Housing Authorityas requiredinthe Program
As of the date of this Agreement, the Housing Locator website is
6.20.HazardousMaterialsIndemnity.
(a) ComplywithallgovernmentalrequirementsapplicabletoHazardousMaterials(includingleadpaint)andotherenvironmental,health,fireandsafetylawsorregulations,including,butnotlimitedto,theOccupationalHealthandSafetyActandAmericansWithDisabilitiesAct;
(b) NotifyLenderofanynoticereceivedbyBorrowerofanyleak,spillorotherreleaseofHazardousMaterialsorofanyviolationofanyenvironmental,health,fireorsafetylawsorregulationswithrespecttotheProjectorthePropertyinwhicheventLendershallbeallowedarightofentry(includingtherighttoconducttestsandtakesamplesfromtheProjectortheProperty)andmay,butshallnotberequiredto,remediatetheproblemifBorrowerdoesnotpromptlyinitiateanddiligentlypursuesuchremediation;
(©) IfunlawfulHazardousMaterialsaredeterminedtobelocatedattheProjectoronthePropertyoranotherenvironmental,health,fireorsafetylaworregulationhasbeenviolatedandsuchviolationhasbeencausedbyBorroweroritsagents,provideLenderwithabondorletterofcredit,orsimilarfinancialassurance,satisfactorytoLender,inanamountsufficienttocoverthecostofanycleanuporofremediationoftheviolation,asthecasemaybe;and
(@__IndemnifyandforeverholdLenderharmlessfromanyloss,claim,damageorliabilityarisingoutof,orinconnectionwith,theunlawfulpresenceattheProjectoronthePropertyof,orcontaminationby,anyHazardousMaterialsortheviolationofenvironmental,health,fireorsafetylawsorregulationsifsuchloss,claim,damageorliabilitywascausedbyBorrowerofitsagentsandhasoccurredsinceBorrowertooktitletotheProperty;provided,however,BorrowershallhavenoliabilitytotheextentanylossarisesasaresultofthegrossnegligenceorwillfulmisconductofLender.ThisindemnificationshallsurviverepaymentoftheLoan.

LoanAgreement(RevisedJan.2023) 234931-1667-9702,v.4
(©) Further,BorrowershallpayLender,upondemand,forallcostsreasonablyincurredbyLenderinconnectionwithinspectingtheProjectorthePropertywithrespecttoHazardousMaterials,whichLendermaydoatanytimeandfromtimetotime,and/orinconnectionwithreviewinganyHazardousMaterial,environmental,health,fireorrelatedsafetyreports,includingAttorneys’FeesandCosts,engineeringfeesandotherfeesandexpensesifsuchcostsareincurredasaresultofactionscausedbyBorroweroritsagentsafterthedateBorrowertakestitletothe
Property.
Section7. Default;Remedies.

7.1.Defaults,An“EventofDefault”shallbedeemedtohaveoccurredunderthisAgreementontheoccurrenceofany oneormoreofthefollowingeventsandremainsuncuredafterthenoticeandcureperiodsprovidedinSection7.1.3below:
TLL Any representationor warranty made herein or any statement or
representationmadeinanycertificate,reportoropinion(includinglegalopinions),financialstatementorotherinstrumentfurnishedinconnectionwiththisAgreement(includingrequests),anyapplicationmaterialsfortheLoan,oranyoftheotherLoanDocuments,provestohavebeenincorrectinanymaterialrespectwhenmade;or
7.1.2.Borrowerfailstopay,withinten(10)daysafterthedateonwhichitisdueandpayable(a)theprincipalof,premium,ifany,orinterestoranyotherchargesorsumsonorundertheNote(whetheronmaturity,onanyinstallmentdate,afteracceleration,afternoticeofprepayment,orotherwise),or(b)anyotherpaymentrequiredbythisAgreementoranyoftheotherLoanDocumentstobepaidbyBorrower,including,butnotlimitedto,anypaymentsduetoLenderinaccordancewiththeFinalLoanReductionCalculation;or
7.1.3.Borrowerfailstodulyandpromptlyperform,complywithorobserveanyoftheterms,covenants,conditionsoragreementscontainedhereinorintheProgramRequirements,otherthanpertainingtoinsurancerequirementshereinforwhichthereshallbenosuchcureperiod,whichdefaultremainsunremediedforthirty(30)days(orsuchothercureperiodasmaybespecifiedherein)afterNoticetothenon-performingentitythereof,exceptthatifthedefaultissuchthatitcannotbecorrectedwithinthirty(30)days(oranyothercureperiodspecifiedherein),itshallnotbeanEventofDefaultif,intheopinionofLenderreasonablyexercised,thenon-performingentityistakingappropriatecorrectiveactiontocurethedefaultandthedefaultwillnot,inLender’ssolejudgment,impairthesecurityfortheLoan;or
7.1.4.An ActofBankrupteyoccurswithrespecttoBorroweroranyother
guarantoroftheLoan;orBorrowerbecomesgenerallyunabletopayitsdebtsastheybecomedue;
or
7.1.5. An Eventof Defaultoccursunderany otherLoan Document; or
7.1.6.Anymechanic’slienisestablishedagainsttheProjectandnotdischarged
orbondedagainstbyBorrowerwithinthirty(30)daysafteritreceivesnoticeoftheestablishment
thereof;or
LoanAgreement(RevisedJan.2023) 244991-1667-9702,v.4
7.1.7. BorrowerfailstocomplywithanyrequirementofanyAuthorityhaving
jurisdictionwithinthirty(30)daysaftertheAuthoritygivesitwrittennoticeoftherequirement;orifanyproceedingisbegunoractiontakentoenforceanyremedyfora violationofanyrequirementoftheAuthorityoranyrestrictivecovenantaffectingtheProperty.
7.2. Remedies ofLender on Event of Default.Whenever any Eventof Default referred
toinsubsection7.1hasoceurred,Lendermayrefusetodisburseanyamountshereunder,acceleratethepaymentsdueontheNoteanddeclareallotherofBorrower'sobligationstobeimmediatelydueandpayable,bringsuitontheNote,andtakesuchotheractionsagainstBorrowerasLendermaydeemtobeappropriate,aspermittedbylaw.Inaddition,Lender,initssolediscretion,maytakeanyoneormoreofthefollowingremedialsteps:
7.24. Acceleration.DeclaretheunpaidprincipaloftheNoteandallinterest
aceruedthereon,togetherwithallothermoneyspayablehereunder,tobeimmediatelydueand
payable,bynoticeinwritingtothateffectdeliveredtoBorrower,andonsuchdeclaration,allsuch
moneysshallbecomeimmediatelydueandpayable,withoutprotest,presentment,furthernotice
ordemand,allofwhichareexpresslywaivedbyBorrower,attheplaceofpaymentprovidedinsuchnotice,anythinginthisAgreementorintheNotetothecontrarynotwithstanding.
7.2.2.LegalAction.Bymandamusorothersuit,actionorproceedingatlaworinequity,enforceallrightsofLender,andrequireBorrowertocarryoutanyagreementwithorforthebenefitofLender,andtoperformitsdutiesunderthisAgreement,theDeedofTrust,andtheotherLoanDocuments;and/or
(1) BringsuitontheNote;and/or
2) ByactionorsuitinequityenjoinanyactsorthingswhichmaybeunlawfulofinviolationoftherightsofLender;and/or
(3) Takewhateveractionatlaworinequityappearsnecessaryordesirabletocollectthepaymentsandotheramountsthendueandthereaftertobecomedueortoenforceperformanceandobservanceofanyobligation,agreementorcovenantofBorroweroranyotherPersonunderthisAgreementoranyotherLoan Document.
7.2.3. Books and Records. Have accessto and inspect,examine and make
copiesofthebooks and recordsand any and allaccountsand similardataofBorrower.
7.24.— ProtectionofProperty,Withoutresorttojudicialprocess,takesuchstepsasitdeemsappropriatetoprotecttheProjectorthePropertyfromdepredationorinjury,includingemploymentofwatchmenorotherprotectiveservices,andBorrowershallpayanyexpensesincurredbyLenderintakingsuchsteps.
7.2.3.CompletionofProject,LendershallhavenoobligationtodisburseanyportionoftheundisbursedproceedsoftheLoantoBorrower.LendermayentertheProjectorthePropertyforthepurposeofcausingBorrower’sobligationshereundertobefulfilled,andforsuchpurposesBorrowerherebyappointsLenderasitslawfulattorney-in-fact,withfullpowerof,
LoanAgreement(RevisedJan.2023) 25
4931-1667-9702,v.4
delegationandsubstitution,toactforsuchpurposeinitsname,totakeanyorallofthefollowingactions:
(1) ContinuetheProject;and/or
(2) AvailitselfandprocureperformanceofallcontractstheretoforemadebyBorrower; and/or
(3) Modifysuchcontracts,ortoenterintonewcontractswiththesameorothercontractors,architects,suppliersoragents;and/or
(4) Pay,settleorcompromiseanybills,claimsorliensincurredinconnectionwiththecompletionoftheProject;and/or
(5) Prosecuteordefendanyactionorproceedinginconnectiontherewith,toexecutesuchapplicationsandcertificatesasmay berequiredbygovernmentalauthorityoranyagreementbyBorrower;and/or

(6) Perform any other act and execute and deliver all documents and
instrumentsasmaybeappropriateforsuchpurposes;and/or
(7) Useanyfundsnotyetdisbursedhereunderorotherwiseallocatedormadeavailabletherefortopaythecostthereof,itbeingspecificallyagreedthatthispowerofattorneyisapowercoupledwithaninterestwhichcannotberevoked.
AnydisbursementoffundsforsuchpurposesshallbedeemeddisbursementspursuanttothisAgreementandevidencedbytheNote.Inaddition,ifitisnecessaryforLendertodisburseanyamountsinordertoaccomplishsuchpurposes,BorrowershallreimburseLenderfortheamountofsuchexcess,withinterestthereonasprovidedinSection8,andauthorizeLendertoapplyfundsreceivedfromthesaleorrentalofanyportionsoftheProjecttotherepaymentofsuchexcessbeforethesameareappliedforanyotherpurpose.AnyactiontakenbyLenderhereundermay,inthesolediscretionofLender,bethereafterterminatedorchanged,andthisAgreementoranyactiontakenhereundershallinnowaybeconstruedasimposinganyobligationonLendertoactorcontinuetoactonthebehalfofBorrowerorotherwisetocompletetheProjectorfulfillanyobligationofBorrowerinconnectionwiththeProject.
7.2.6.PossessionofProject.TakepossessionoftheProjectandhave,hold,manage,leaseandoperateitonsuchtermsandforsuchperiodoftimeasLenderdeemsproper;andcollectandreceiveallrents,incomeandprofitsoftheProject,withorwithouttakingpossessionoftheProject,withfullpowertomakefromtimetotimeallalterations,renovations,repairsorreplacementstheretoasseempropertoLender,andtoapplysuchrents,incomeandprofitstothepaymentof:
(1) Thecostofsuchalterations,renovations,repairsandreplacementsandexpensesincidenttothetakingandretainingpossessionoftheProjectandthemanagementandoperationthereofandkeepingthesameproperlyinsured,and
LoanAgreement(RevisedJan.2023) 264931-1687-9702,v.4
2) Alltaxesandanyotherencumbranceswhichmaybe priorinlienoras mpaymenttotheobligationsofBorrowerhereunder,and
(3) TheobligationsofBorrowerhereunder,togetherwithallcostsandAttomeys”FeesandCosts,insuchorderofpriorityastoanyofsuchitemsasLenderinitssolediscretionmaydetermine,anylaw,customorusetothecontrarynotwithstanding.

7.2.7.RepossessionofCollateral.ProceedundertheDistrictofColumbiaUniformCommercialCodeastoalloranypartofthecollateral,andinconjunctiontherewithexerciseallrights,remediesandpowersofasecuredpartyundertheDistrictofColumbiaUniformCommercialCodeasthenineffectintheDistrictofColumbia(“UCC”),includingtakingpossessionofthecollateralpursuanttoSection9-503oftheUCCwithouitresorttojudicialprocess.IfanEventofDefaultoccurs,Borrowershallassembleallofthecollateral,andmakeitavailableattheProperty.AnynoticerequiredbySection9-504oftheUCCshallbedeemedreasonablyandproperlygivenifgiveninthemannerspecifiedforotherNoticesunderthisAgreement,atleastfifteen(15)daysbeforeanysaleorotherdispositionofthecollateral.Dispositionofthecollateralshallbedeemedcommerciallyreasonableifmadepursuanttoapublicofferingadvertisedatleasttwiceinanewspaperofgeneralcirculationinthecommunitywherethecollateralislocated.

7.2.8. Foreclosure.DeclareadefaultundertheLoanDocumentsandexercise
itsrightsof foreclosureand otherremediesavailableundertheDeed ofTrust.

7.3. NoRemedy Exclusive;Delays or Omissions; Waiver ofBreach. No actiontaken
pursuanttothisSection7shallrelieveBorrowerfromitsobligationshereunderorunderanyotherLoanDocument,allofwhichshallsurviveanysuchaction,andLender(totheextentprovidedabove)maytakewhateveractionatlaworinequityappearsnecessaryanddesirabletocollectthepaymentsandotheramountsthendue,andthereaftertobecomedueand/ortoenforcetheperformanceandobservanceofanyobligation,agreementorcovenantofBorrowerhereunderorofanyotherPersonunderanyLoanDocument.
NoremedyhereinconferredonorreservedtoLenderisintendedtobeexclusiveofanyotheravailableremedyorremedies,buteachsuchremedyshallbecumulativeandshallbeinadditiontoeachotherremedygivenunderthisAgreementortheotherLoanDocumentsornoworhereafterexistingatlaworinequity.Ifanyrightorremedygrantedhereinisheldtobeunlawful,LendershallbeentitledtoeachotherrightandremedyprovidedinthisAgreementandbylaworinequity.Nodelayoromissioninexercisinganyrightorpoweraccruingonanydefault,omissionorfailureofperformancehereunderorundertheLoanDocumentsshallimpairanysuchrightorpowerorbeconstruedtobeawaiverthereof,butanysuchrightandpowermaybeexercisedfromtimetotimeandasoftenasisdeemedexpedient.IfanytermofthisAgreementisbreachedbyBorrowerandisthereafterwaivedbyLender,thatwaivershallbelimitedtotheparticularbreach0waived,andshallnotbedeemedtowaiveanyotherbreach.Nowaiver,amendment,releaseotmodificationofthisAgreementshallbeestablishedbyconduct,customorcourseofdealing,butsolelybyadocumentsignedbyLender.InordertoentitleLendertoexerciseanyremedyreservedtoitinthisSection,itshallnotbenecessarytogiveanynotice,otherthananynoticebehereinexpresslyrequired.
LoanAgreement(RevisedJan.2023) 2714931-1887-9702,v.4
Section 8. Additional Local _and Federal Requirements Applicable to Borrower. In
additiontotheProgramRequirements,BorrowershallfullycomplywiththefollowingFederal
andDistrictrequirementsastheymaybeapplicabletoBorrower,theProjectortheProperty,
includingimplementationofsuchrequirementsthroughhandbooks,guidesandnotices,andall
futureupdates,changesandamendmentstheretoapplicabletoBorrower,theProjectortheProperty,astheybecomeeffective:
(a) CompliancewithEqualOpportunityObligationsinContracts(AffirmativeActionPlan)— Mayor’sOrder1985-85;
(b) CertifiedBusinessEnterpriseRequirements— D.C. OfficialCode § 2-218.46ef
seq.
(©) D.C,HumanRightsActof1977—D.C.OfficialCode§2-1401.1efseg.;
(d) FairCriminalRecord ScreeningforHousing Act of 2016 — D.C. OfficialCode
§42-3541.01efseq.;
(e) FirstSourceProgram—D.C.OfficialCode§2-219.01erseq.;
(8 FreedomofInformationAct—D.C.OfficialCode§2-531erseq.;
(g) _InclusionaryZoningImplementationActof2006~D.C.OfficialCode§6-1041.01
etseq.s
(h) RelocationAssistance~ 10BDCMR Chapter22;
(i) RentalHousing Act of 1985 — D.C. OfficialCode § 42-3501.01efseq.;
() RentalHousingConversionandSaleActof1980— D.C.OfficialCode§42-
3401.01etseq.
(k) Sections9a and 9b of HistoricLandmark and HistoricDistrictProtectionAct of
1978,asamended — D.C. OfficialCode § 6-1101 efseq.;
w Age DiscriminationAct of 1975 — 42 U.S.C.§ 6101 ef seq.,including,but not
limitedto,implementingregulationsat24 CFR Part146;
(m) AmericanswithDisabilitiesAct of 1990— 42 U.S.C.§ 12101 efseq.;
(n) Broadband Infrastructurein HUD-Funded New Construction& Substantial
Rehabilitation— 24 CFR § 891.
(©) CivilRightsActof1964-42U.S.C.§200detseq.;
(p) ConflictofInterest-24CFR§ 570.611;
(q) _ Davis-Baconand RelatedActs — 40 U.S.C.§ 3141 efseg.and 42 U.S.C.§ 5310:
40 U.S.C.§ 3701 etseq.;29 CFR Parts1,3,and 5;
LoanAgreement(RevisedJan.2023) 284931-1687-9702,v.4
() TheFederalstatutoryandregulatoryrequirementsoftheDavis-BaconAct(40U.S.C.§3141etseg.)andtheContractWorkHoursandSafetyStandardsAct(40
U.S.C.§3701efseq.)shallsurvivethetermoftheLoan,TheDavis-BaconActrequires
thepaymentofprevailingwageratestoalllaborersandmechanicsonFederalgovernment
andDistrictofColumbiaconstructioncontractsinexcessof$2,000.TheDavis-BaconAct
laborstandardsalsoapplytothe“RelatedActs,”underwhichconstructionprojectsare
assistedthroughFederalfundedgrants,loans,loanguarantees,andinsurance.Each
contractsubjecttoDavis-Baconlaborstandardsrequirementsmustcontaininfullthelabor
standardsclausessetforthin29CFR§ 5.5(a)relatingto minimumwages,apprenticesand
trainees,withholding,payrollsandbasicrecords,andliabilitiesandpenaltiesforviolations.ThemandatoryDavis-Baconcontractprovisions,theFederalLaborStandardsContractAddendum(HUDForm4010),areattachedheretoasExhibitD andincorporatedherein.
‘ThewagedeterminationapplicabletothisProjectisattachedheretoasExhibitE.and
incorporatedherein.ThemandatoryDavis-BaconlaborprovisionssetforthinExhibitD
andthewagedecisionsetforthinExhibitE mustbeincorporatedintheConstructionContractandeachsubcontractatanytier.

(@) Eachweeklypayrollstatementrequiredunder29CFR§ 3.3shalllbedeliveredbythecontractororsubcontractor,withinseven(7)daysaftertheregular
paymentdateofthepayrollperiod,totheOfficeofProgramMonitoringatDistrictofColumbiaDepartmentofHousingandCommunityDevelopment,1800MartinLutherKing,Jr.,Ave.,SE,Washington,DC20020.(29CFR§3.4).
(b) Eachpayrollsubmittedshallbeaccompaniedbya“StatementofCompliance,”signedbythecontractororsubcontractororhisorheragentwhopaysorsupervisesthepaymentofthepersonsemployedunderthecontract.(29
CER§5.5(a)(3)(i)(B)).UpontherequestofLender,Borrowershallprovideor
shallcauseitscontractororsubcontractortoprovideforLender'sreview,anycontractorsubcontractuponwhichacertifiedpayrollisbased;
(Equal CreditOpportunityAct- 15U.S.C.§1691etseq.s
(8) LeadSafeHousingRule(LeadBasedPaint)—24CFRPart35;
w Governmentwide RequirementsforDrug-Free Workplace — 41 U. §701 et
seq.,including,butnotlimitedto,Federalrulesandregulationsat24CFRPart242
(u) FairHousingActof1968~42U.S.C.§3601etseq.,including,butnotlimitedto,implementingregulationsat24CFRPart100;
(v) Hatch Act—5 U.S.C.Chapter15;
(w) NationalEnvironmentalPolicyAct of 1969 — 42 U.S.C.§ 4331 efseq.,including,
butnotlimitedto,implementingregulationsat24 CFR Part50 or 58,asapplicable;
(x) Nonprocurement,DebarmentandSuspension—2CFRPart2424;
(y)_ RestrictionsonLobbying~24CFRPart87;
LoanAgreement(RevisedJan,2023) 294931-1667-9702,v.4
(2) Section3oftheHousingandUrbanDevelopmentActof1968-12U.S.C.§1701uetseq.,including,butnotlimitedto,implementingregulationsat24CFRPart75.InaccordancewithLender’spolicyforHPTFloans,duringconstructionoftheProject,Borrowershallcomplywithandcauseitssuccessors,assigns,andagentstocomplywith24CFRPart75.TheSection3requirementappliestoassistancethatexceeds$200,000.00.BorrowershallorshallcauseitscontractorstoincludetheSection3 ContractAddendumattachedheretoasExhibitF andincorporatedhereininanycontractsorsubcontractssubjecttotheSection3requirements;
(aa) Section106 of theNationalHistoricPreservationAct of 1966— 16 U.S.C.§ 470 et
seq.,including,butnotlimitedto,implementingregulationsat36 CFR Part800;
(bb)Section504ofRehabilitationActof1973-29U.S.C.§794efseq.,including,but
notlimitedto,implementingregulationsat24CFRPart8;
(cc) Uniform AdministrativeRequirements,Cost Principles,and Audit Requirements
forFederalAwards — 2 CFR Part200;
(dd) UniformRelocationAct— 42U.S.C.Chapter61;and
(ce)ViolenceAgainstWomenAct(“VAWA”)-42U.S.C.§§13701-14040.TitleVIof the Violence Against Women ReauthorizationAct of 2013, Safe Homes for Victims of
DomesticViolence,DatingViolence,SexualAssault,andStalking,expandedtheapplicabilityofthe Act to the Low Income Housing Tax Creditprogram. VAWA protectsboth childand adult
victimsofdomesticviolence,datingviolence,sexualassault,andstalking.AllownersandmanagersshallcomplywiththerequirementsofthisActandshallusetheapplicableVAWAforms,including,butnotlimitedto,theHUD-5380NoticeofOccupancyRightsundertheViolenceAgainstWomen Act,HUD-5381ModelEmergencyTransferPlanforVictimsof
Domestic Violence, Dating Violence, Sexual Assault,or Stalking,HUD-5382 Certificationof
DomesticViolence,DatingViolenceorStalking,andAlternateDocumentation,HUD-5383EmergencyTransferRequestforCertainVictimsofDomesticViolence,DatingViolence,SexualAssault,orStalkingandHUD-91067VAWA LeaseAddendum.
8.1. Duty to Comply with Lender Compliance Certifications.The Borrower acknowledges
thatanymisrepresentationofinformationorfailuretocomplywithanyagreementcontainedinitscertificationstocomplywithfederalandDistrictlawsandregulationsgoverningfairhousing,equalopportunity,accessibilityandaffirmativemarketingrequirementsapplicabletotheProjectshallbedeemedanEventofnDefault.

Section9. ConflictOf Interest/Limit ofLiability
9.11. FederalandDistrictlawsstrictlyprohibitanypersonwhoexercisesorhasexercisedanyfunctionsorresponsibilitieswithrespecttoLender-assistedactivitiesorwhoisinapositiontoparticipateinadecisionmakingprocessorgaininsideinformationwithregardtosuchactivitiesfromobtainingafinancialinterestorbenefitfromaLender-assistedactivity,othaveafinancialinterestinanycontract,subcontract,oragreementwithrespecttoaLender-assistedactivity.Further,asitrelatestotheprocurementofsupplies,equipment,constructionandservices,recipientsandsubrecipientsofloanfundsfromLenderareheldtotheconflictofinterestprovisionsoftheProgramRequirements.Inadditiontothegeneralconflictofinterestprohibition,
LoanAgreement(RevisedJan.2023) 304931-1687-9702,v.4
thesesectionsrequirethatfundrecipientsmaintainwrittenstandardsofconductgoverningtheperformanceofitsemployeesengagedintheawardandadministrationofcontractstoaddresstheprohibitionagainstanyrealorapparentconflictofinterest.BorrowershallsubmitacopyofitsconflictofinterestpoliciesandprocedurestoLenderwithinfifteen(15)daysoftheClosingDate.
9.12. Nomember,official,oremployeeofLendershallbepersonallyliabletoBorrowerotanysuccessorininterestintheeventofanybreachofthisAgreementbyLenderorforanyamountwhichmaybecomeduetoBorroweroritssuccessorsorassignsonanyobligationsunderthetermsofthisAgreement.

Section10. NoticeofNon: ination.InaccordancewiththeD.C,HumanRightsActof1977,asamended,D.C.OfficialCode§ 2-1401.01erseg.,(the“HumanRightsAct”),theDistrictof Columbiadoesnotdiscriminateonthebasisofactualorperceived:race,color,religion,nationalorigin,sex,age,maritalstatus,personalappearance,sexualorientation,genderidentityorexpression,familialstatus,familyresponsibilities,matriculation,politicalaffiliation,geneticinformation,disability,sourceofincome,statusasavictimofanintrafamilyoffense,placeofresidenceorbusiness,andstatusasavictimorfamilymemberofa victimofdomesticviolence,asexualoffense,orstalking.Sexualharassmentisaformofsexdiscrimination,whichisalsoprohibitedbytheHumanRightsActandisprohibitedbyMayor'sOrder2023-131(SexualHarassmentPolicy,GuidanceandProcedures).Inaddition,harassmentbasedonanyoftheaboveprotectedcategoriesisalsoprohibitedbytheHumanRightsAct..

Section11. Freedomof InformationAct.
11.1TheDistrictofColumbiaFreedomofInformationActof1976,Pub,L.90-614D.C.OfficialCode§§2-531-539(the“FOIA”)providesforthedisclosureofpublicinformation.Specifically,thelawprovidesthat“anypersonhasarighttoinspect,andathisorherdiscretion,tocopyanypublicrecordexceptasexpresslyexemptedbytheFOIA.Further,a“publicrecord”hasbeendefinedbytheDistrictofColumbiaPublicRecordsManagementActof1985as“anydocument,book,photographicimage,electronicdatarecordingpaper,soundrecording,orothermaterialregardlessofformorcharacteristic,madeorreceivedpursuanttolaworinconnectionwiththetransactionofpublicbusinessbyanyofficeroremployeeoftheDistrict.”D.C.OfficialCode § 2-1701(13) (2008).Borrower acknowledges thatLender issubjectto theFOIA.
11.2.InformationordocumentationsubmittedtoLenderpursuanttothisLoan,orinconnectionwiththetransactionofthebusinessofLender,issubjecttopublicdisclosurein
responsetoaFOIArequest.Therefore,informationthatBorrowersubmitstoLender,ifnotspecificallyexemptedbyD.C.OfficialCode§2-534oftheFOIA,maybedisclosedtothepublic
uponaproperrequest,
Section12. AntideficieneyActLimitations.Notwithstandinganyotherprovisionofthis‘Agreementtothecontrary,anyandallprovisionswhich,may,couldorappeartoobligateLenderareandshallremainsubjecttothelimitationsoftheAntideficiencyAct,prescribedunder31U.S.C.§§1341,1342,1349and1351,asmadeapplicabletotheDistrictofColumbiaunderD.C.OfficialCode§47-105;§§47-355.01—355.08,astheforegoingstatutesmaybeamendedfromtimetotime(2001ed.).Ifsuchprovision(s)shallbeinviolationoftheAntideficiencyAct,thatparticularprovision,asapplicabletoLender,shallbevoidabin

LoanAgreement(RevisedJan.2023) 314931-1667-9702,v.4
Section13. Miscellaneous.
13.1. Reimbursement of Disbursements Made or Other Costs Incurred by Lender.
IfBorrowerfailstomakeanypaymentortoperformanyotherofitsobligationshereunder,Lender,afternoticetoanddemandonBorrower,withoutwaivinganydefaultorreleasingBorrowerfromanyofitsobligationshereunder,andwithoutbeingunderanyobligationtodoso,maymakesuchpaymentorperformanyoftheparty’sobligations.AllamountssopaidbyLender,andallfeesandothercostsincurredbyLender,whetherinconnectionwithsuchpaymentorsuchperformanceorotherwiseinconnectionwithitsdutiesandresponsibilitiesunderthisAgreementandtheotherLoanDocuments,shallbeimmediatelydueandpayablebyBorrowerondemandtherefor,asadditionalpaymentshereunder,withinterestthereonasprovidedinSection13.2.Inaddition,notwithstandinganythinginthisAgreementtothecontrary,ifBorrowerdefaultsunderanytermofthisAgreement,andLenderemploysattorneysorincursotherexpensesforcollectionofamountsduehereunderorenforcementofperformanceorobservanceofanyobligationoragreementbyBorrowerherein,BorrowershallondemandthereforpaytoLenderallAttorneys?FeesandCosts.

13.2. Intereston Additional Payments and Reimbursements. Without limitingany
othertermsforthepaymentofinterest,additionalinterest,latecharges,premiumsorlikechargesundertheLoanDocuments,inanyinstanceinwhichanysumotherthanprincipal,premium(ifany),andinterestisduefromBorrowertoLenderasadirectpayment,reimbursementorotherwise,andnospecificprovisionismadeastothepaymentofinterestthereonortherateofinterestthereonisnototherwisespecified,thesumshallbearinterestfromthedateonwhichitbecomesdueuntilpaidinfullattheDefaultInterestRate(asdefinedintheNote).
13.3.IndemnificationofLender.
13.3.1.ClaimsinConnectionwiththeProject.ExceptwhereitistheresultofLender’sgrossnegligenceorwillfulmisconduct,(a)Borrowershallprotect,indemnify,andsaveharmlessLender,itsemployees,agentsandrepresentativesagainstandfromallclaimsincurredby,orassertedorimposedagainst,anyofthem,andanylossorexpense(includingallAttorneys’FeesandCosts)inconnectiontherewith,duetoLender’sparticipationinthefinancingoftheProject,anyaccident,injury(includingdeath)ordamagetoanyPersonorproperty,howevercaused,resultingfrom,connectedwithorgrowingoutofanyactofcommissionoromissionofBorrower,oranyagents,assignees,contractorsorsubcontractorsofBorrower,oranyuse,nonuse,possession,occupation,condition,operation,service,design,construction,acquisition,maintenanceormanagementof,oron,orinconnectionwith,theProject,untilthisAgreementisterminated,regardlessofwhethertheclaimsareagainstoraresustainedbyLender,itemployees,itsagentsoritsrepresentatives;(6)LendershallnotbeliableforanydamageorinjuryoccurringduringtheLoantermtoPersonsorpropertyofBorroweroranyofitsagentsoranyotherPersonwhoorwhichisontheProperty,andBorrowerherebyreleasesLenderfrom,andagreesthatLendershallnotbeliablefor,andBorrower,jointlyandseverally,shallholdLenderharmlessfrom,anysuchliability;and(c)Borrower,jointlyandseverally,may,andifsorequestedbyLender,shallundertaketodefend,atitssoleexpense,allclaimsbroughtagainstLenderoranyofLender'semployees,agentsorrepresentativesinconnectionwithanyofthemattersmentionedinthissubsection,providedthatLendergivesBorrowertimelyNoticeofandforwardstoBorrower
LoanAgreement(RevisedJan.2023) 324931-1667-9702,v.4
everydemand,notice,summonsorotherprocessreceivedconcerninganyclaimwithinthe
purviewhereof.
13.3.2.ApprovalsofProject,No inspectionsorapprovalsoftheProjectby
LenderduringorafterconstructionshallconstituteawarrantyorrepresentationbyLenderoranyofitsagentsastothetechnicalsufficiency,adequacyorsafetyofanystructureoranyofitscomponentparts,includinganyfixtures,equipmentorfurnishings,andsuchapprovalsorinspectionsshallnotconstitutesuchawarrantyorrepresentationastothesubsoilconditionsoranyotherphysicalconditionorfeaturepertainingtotheProject.Allacts,includinganyfailuretoact,relatingtotheProjectbyanyagent,representativeordesigneeofLenderareperformedsolelyforthebenefitofLendertoassurerepaymentoftheLoan,andarenotforthebenefitofBorroweroranyotherPerson.

13.4,Nonassignability,NeithertheLoannoranydisbursementthereundermaybeassignedbyBorrower withoutLender’spriorwrittenconsent.NeithertheLoannoranydisbursementsthereundershallbesubjecttotheprocessofanycourtonlegalactionbyoragainstBorroweroritsprincipals,officers,directorsorshareholdersorbyoragainstanyoneclaimingunderorthroughBorroweroritsprincipals,officers,directorsorshareholders.ForpurposesofthisAgreement,theLoanshallremaininthecustodyofLenderuntilBorrowercomplieswithallprovisionshereof,exceptthatnothinghereinshallbedeemedtomodify,affectorsubordinatetheobligationsheretoforegivenortobegivenbyBorrowerassecurityfortheLoan,allofwhichshallbeandremaininfullforceandeffect,thisAgreementbeingintendedonlyasadditionalsecurityandprotectionfortheLoanandtoassureitsuseforthepurposesintendedbyLender.

13.5.LiabilityofLender.AllconditionsoftheobligationsofLenderhereunder,includinganyobligationtomakedisbursementsundertheLoan,areimposedsolelyandexclusivelyforthebenefitofLenderanditssuccessorsandassigns,andnootherPersonshallhavestandingtorequiresatisfactionofsuchconditionsinaccordancewithitstermsorbeentitledtoassumethatLenderwillrefusetodisbursesumsundertheLoanintheabsenceofstrictcompliancewithanyandallthereof.No otherPersonshall,underanycircumstances,bedeemedtobeabeneficiaryofsuchconditions,anyandallofwhichmaybefreelywaivedinwholeorinpartbyLenderatanytimeifin itsdiscretionitdeemsitdesirabletodoso.

13.6. No Partnership, Joint Venture, Agency. Borrower and Lender acknowledge that
therelationshipbetweenthemcreatedherebyandbytheotherLoanDocumentsisthatofdebtorandcreditorandisnotintendedtobeandshallnotinanywaybeconstruedtobethatofapartnership,jointventure,orprineipalandagent.
13.7.WaiverofJuryTrial/ServiceofProcess/CourtCosts.BorrowerandLenderagreethatanylawsuitbetweenLenderandBorrowershallbedecidedbyajudge,withoutajury.BorroweragreestopayallcourtcostsandAttorneys”FeesandCostsincurredbyLenderinconnectionwithsuccessfullyenforcinganyprovisionofthisAgreement.BorrowerherebyinevocablydesignatesRegisteredAgent,asthetrueandlawfulattorneyofBorrowerforthepurposeofreceivingserviceofalllegalnoticesandprocessissuedbyanycourtintheDistrictofColumbiaaswellasserviceofallpleadingsandotherdocumentsrelatedtoanylegalproceedingoractionarisingoutofthisAgreement,Notwithstandingtheabove,Borrowershallhavetheright
LoanAgreement(RevisedJan.2023) 334991-1687-9702,v.4
tochangeitsRegisteredAgent,inwhicheventBorrowershallgivewrittennoticetoLenderofanysuchchange,includingacurrentaddress.

13.8. No Third Party Beneficiaries.The termsand provi 'sof thisAgreementare for
thebenefitof thepartieshereto,and no otherpersonshallhave any rightor causeof actionon
accounthereof.
13.9.Counterparts,ThisAgreementmaybesignedincounterparts,anyofwhichtogetherwithallexecutedsignaturepagesshallconstituteafullyexecutedandbindingagreement.
13.10.Notices.Allnotices,requestsanddemandsontherespectivepartieshereto(each,
a“Notice”shallbegiveninwriting,anddeemedtohavebeengiventhree(3)businessdaysafterhavingbeensenttoLenderorBorrower,asapplicable,atitsrespectiveaddresslistedbelow,byregularandcertifiedUSmail,orone(1)businessdayafterhavingbeendeliveredbycourierorovernightdeliveryservicetotheappropriatepartyattheaddresslistedbelowandwithreceiptfor
deliveryorrefusalofdelivery.Copiesofnoticestotheentitieslistedbelowtoreceivecopiesshall
besentbyregularmailorelectronicmail.Anypartyorentitymaychangeitsaddresstoreceivenoticeorcopiesthereofbysendingawrittennoticeofthechangetoallotherpartiesorentitieslistedbelow.
IftoLender: D.C.DepartmentofHousingandCommunityDevelopment
1909MartinLutherKingJr.Avenue,S.E.Washington,D.C.20020Attn:Director
withcopyto: D.C,DepartmentofHousingand
Development
1909MartinLutherKingJr.Avenue,S.E.
Washington,D.C.20020Attn:GeneralCounsel

IftoBorrower: FlatsatSouthCapitolLLC
c/oDantesPartnersLLC
112112thStreetNW
Washington,DC 20005
withcopyto: Reno& CavanaughPLLC455 MassachusettsAvenue NW, Suite400
Washington,DC 20001
Attention:Matt Greeson
KayeSternPropertiesL.L.C.
76ForresterSW
Washington,DC 20032
LoanAgreement(RevisedJan.2023) 344931-1667-9702,v.4
Attention:JasonSternandJesseKaye
13.11.Amendment.ThisAgreementmaybeamended,andBorrowermaytakeanyaction
hereinprohibited,oromittoperformanyactrequiredtobeperformedbyBorrower,onlyif
BorrowerobtainsLender’spriorwrittenconsenttosuchamendment,actionoromissiontoact.
13.12. Survival _of Agreements, All agreements, covenants, representationsand
warrantiesofBorrowermadeinthisAgreementshallsurvivetheexecutionanddeliveryofthis
AgreementandtheotherLoanDocuments,andthemakingofalldisbursementshereunder,regardlessofanyinvestigationmadebyoronbehalfofLender.
13.13. Entire Agreement: Successors and Assigns; Time of Essence. This Agreement
andtheotherLoanDocumentscontaintheentiretermsoftheagreementwithrespecttotheLoan,andnorepresentations,inducements,promisesoragreementsbetweenBorrowerandLendernot
setforthhereinorintheotherLoanDocumentsshallbeofanyforceoreffect.ThisAgreement
shallbebindingonandshallinuretothebenefitofBorrower,jointlyandseverally,andLender
andtheirrespectivesuccessorsandLender’sassigns,whethersoexpressedornot.Timeisofthe
essenceunderthisAgreement.
13.14. Severability.If any one or more terms of thisAgreement or the other Loan
Documentsaredeemedtobeinvalid,illegalorunenforceableinanyrespect,thevalidity,legality
andenforceabilityoftheremainingtermshereinorthereinshallnotbeaffectedorimpairedthereby,andshallbeenforceabletothemaximumextentpermittedbylaw.
13.15. Descriptive Captions; Headings. The captions and headings of the sections,
subsectionsandparagraphsofthisAgreementarefortheconvenienceofreferenceonly,andare
notconsideredtobeaparthereofandshallnotlimitorotherwiseaffectanyofthetermshereof.
13.16.Construction.As usedherein,allreferencesmade(i)intheneuter,masculineor
femininegendershallbedeemedtohavebeenmadeinallsuchgenders,(ii)inthesingularor
pluralnumbershallbedeemedtohavebeenmade,respectively,inthepluralorsingularnumber
aswell,and(iii)toanysection,subsection,paragraphorsubparagraphshallbedeemed,unless
otherwiseexpresslyindicated,tohavebeenmadetosuchsection,subsection,paragraphot
subparagraphofthisAgreement.
13.17.GoverningLaw,ThelawoftheDistrictofColumbia(ignoringitsconflictsoflawsprinciples)shallgoverntheinterpretation,performanceandenforcementofthisAgreement.All
citationstolegislationhereinshallmeanforsuchlegislationasofthedatehereof,andasmaybe
amendedfromtimetotimeinthefuture.
13.18.ConflictwithProgramRequirements.Intheeventofa conflictbetweenthis
‘AgreementandtheProgramRequirements,theProgramRequirementsshallcontrol.
[Remainderofpageintentionallyleftblank]
LoanAgreement(RevisedJan.2023) 354931-1687-9702,v.4
IN WITNESS WHEREOF, Borrower and Lender have caused thisAgreement to be
executedand deliveredasof thedatefirstabove written.
LENDER:
DISTRICT OF COLUMBIA, a municipal
corporation,actingbyandthroughtheDEPARTMENTOFHOUSINGANDCOMMUNITYDEVELOPMENT
By: ColleenGreenDirector
ApprovedastoLegalSufficiency:
By GitaF.SankanoAssistantGeneralCounsel
[Signaturescontinueonfollowingpage]
LoanAgreement(RevisedJan,2023) 36
4931-1667-9702,v.4
BORROWER:
FLATS AT SOUTH CAPITOL LLC,
a DistrictofColumbia limitedliability
company

By: _Z
BuwaBinitie
AuthorizedSignatory
LoanAgreement(RevisedJan.2023) 374931-1667-9702,v.4
EXHIBIT A
SUMMARY OF LOAN TERMS
A-l
491-1667-9702,v.4
SUMMARY OF LOAN TERMS AND PROJECT DETAILS

ProjectName: |TheFlatsatSouthCapitol
BorrowerName: Sou
ProjectAddress:
DHCD ProjectManager:
FundingRound:
LastUpdated:

FundingDescription
GapFundingAmount:_ | Amountnottoexceed$23,602,679
TaxCreditAllocation:| (S0]9%LIHTC
FundingSource(s): X HousingProductionTrustFund(HPTF)
|__HOME InvestmentPartnershipsProgram(HOME)
__CommunityDevelopmentBlockGrantProgram(CDBG)
__NationalHousingTrustFund(NHTF)
__DepartmentofBehavioralHealth(DBH)|__CDBG-Seetion108LoanGuaranteeProgram
Other(Specifi)

ProductTyp:

Se|
"
&
23
z9
2g EligiblePurposeand X_Acquisition(includingrefinancinganacquisitionloan)
Uses: X_SofiCosts,includingPredevelopmentandFinancingCosts
X NewConstruction-HardCosts__ Rehabilitation- Hard Costs
__CashCollateralizationofTax-ExemptBonds
| CriticalRepairs(onlyselectifacquisitionfinancingonly)
__OtherHPTForfederally-eligiblecostsasdefinedinthe_DevelopmentProjectBudget(Form202)(Specify)

‘+FundsmaybeusedtoreimbursepredevelopmentandacqcostsatDFD’sdiscretion,regardlessofwhenthecostswereincurred.gibleusesmustbeidentifiedandapprovedintheForm202.

o schedulewillbeestablishedpriortotheClosingDate.
LoanTerm: ____| 42yearsfromtheClosingDate_ _ ee
InterestRate: |3% simpleinterest
|AccrualstartsontheClosingDateonamountsdrawndown
Construction/Stabilization23monthsforconstructionplus9monthsforstabilization,including
Period: Tease-upandconversion

4901-0841-4808,v.5

RetainageAmount: |$2,360,268[Thelesseroftenpercent(10%)ofthe
ractortenpercent(10%)oftheLox
|CommencesonMay1 ofcalendaryearaftertheprojectedPlacedin
|Servicedate(orcomparabledocumentationisprojectedtobereceived),_subjecttoNetCashFlowwaterfallinDeedofTrustNote
RepaymentSource: |TheLoanistoberepaidfromNetCashFlowandproceedsresulting|fromanyCapitalTransaction,assetforthintheLoanDocumentsand|Borrower'sorganizationaldocuments.

‘RepaymentStart:

Recourse: Non-recourse

CollateralPosition: |SecondprioritydeedoftrustonthePropertyandProject,includingallof|Borrower'sright,titleandinterestintheland,improvements,rentsandleases,fixtures,personaltyandallcollaterallocatedonorusedin
‘Tax-Exempt/Taxable Xx “CIHTC)— Amount:
Bonds/StateandFederal—_[$28,074,006]
LINTC: |__9%LowIncomeHousingTaxCredits(LIHTC)—Amount:[8X]| [StateLowIncomeHousingTaxCredits(DCLINTC)~Amount:[SX]|TX.Short-termBonds~ EstimatedAmount:$23,865,000~X_Long-termBonds~EstimatedAmouce —_None
OtherSubsidiesAwarded| _X_ThroughRFP: =AnnualContributionsContract(ACC)(PublicHousingOperatingSubsidy)_ DepartmentofHumanServices(DHS)PermanentSupportiveHousing(PSH)CaseManagementSupportiveServices
_ Other:[Specify]

OtherNon-RFPor __Section8Project-BasedSubsidy(j.e.,PBVorPBRAHAPcontract)
ExistingSubsidies: =RentalAssistanceDemonstration(RAD)conversionortransferofassistance__AnnualContributionsContract(ACC)(PublicHousingOperatingSubsidy)|DepartmentofBehavioralHealthoperatingsubsidy|NonprofitAffordableHousingDeveloperTaxReliefOther:[Specify]_
|___PADD___DMPED
ProjectDescription/ApplicationCommitments
ProjectType: "Production__Preservation_X_PreservationandProduction|Net NewUnitsTotaling(#X]=Rental__Homeownership__LimitedEquityCooperative

DistrictLand:

‘TotalUnitsinProject:|106units
‘TotalAffordableUnitsin| 106 units
Project: La a
LIHTCSet-Aside _X_40%ofUnitsat60%MFI
Election: |_20% ofunitsat50%MFI
__ AverageIncome(SeeAverageMFIinTable2)
4901-9541-4806,v.5

‘AffordabilityPeriodRestriction:

__Perpetual__99years__62years__52years_X_42years
© CommencesontheClosingDate
‘*TheAffordabilityPeriodshallbeautomaticallyextendedifnecessary,to insurethatitwillnotbelessthanforty(40)years(or| theabovecommittedaffordabilityperiod)fromthePlacedin
| ServiceDate

|LINTC:
Perpetual 99years__60years__50years
X_40years(minimumrequirementstarting2025) __30years
* Commenceswiththefirstyearofthetaxcreditperiod

| Federal Funds:
[_]yearsfromtheClosingDate
|__UseofGroundLeaseStructure:[ _]years
Leverage: |$2,645,932MinimumDeferredDeveloperFeeCommitment
8 MinimumSponsorLoan/OtherOwnerSubsidy‘Commitment
8 Other:(Specify)
|1% DHCDParticipation(Overallleverage)SI perunit
[1% SubsidyLeverage(eligiblenon-RFPsources)
UnitAffordabilityMix |Seetablebelow
andApplicable i
Program(s): i

IncomeLevelsServet 47% WeightedAverageMFIServed
Mixed-Income: “Inclusionof20%*MarketRateUnits:
|Minimumof10%ofunitsinthreeofthefollowingincomecategories:|_X_Yes__No
© Opercentto30percentMFI:21%‘31 percentto50percentMFI:68%‘#51percentto80percentMFI:11%+ Market-rate(unrestricted,unsubsidized):[_]%

PermanentSupportive _X_20% __10% __5% [X]PSHunits
Housing(PSH): |__None__Other:(Specify)
|__DBH Units
_ ScatteredSite__LimitedSite-Based__Site-Based
OfficeSpaceRequired?_Y__N
2 N

‘Family-OrientedUnits:

4901-0541-4806,v.5

ProgramstoAddress |_ Returningcitizens
AdditionalBarriersto ___ Householdsof unknownimmigrationstatus
Housing: __ Residentswithdevelopmentalorintellectualdisabilities
__ Residentswithdiverselanguageneeds
__ Youthagingoutoffostercare
“__HousingforPersonsWithAIDS.

Other(Describe):
HousingforOlderAdults:|__AssistedLivingthataccommodatesseniorsandpeoplewith|GisabilitiesIndependentLivingthataccommodatesseniorsandpeoplewithGisabilities
|
|
| Agerestrictedhousing55+| Agerestrictedhousing62+
|
‘AccessibleHousing: ___UtilizingUniversalDesign(TheKelseySilver,Gold,orPlatinum|StandardorVirginiaUniversalDesignStandard)|___AllunitsmeettheANSITypeAaccessibilitystandards|= Providestwicethenumberofaccessibleandaudio/visualunits|TequiredbySection504 ___ Immediatehomeownershipopportunities

‘Wealth-Building: __ Structuredtotransfertotenantownershipaftertheinitial15-year
complianceperiod__ Provideswealth-buildingservicesthatmaybetterpreparetenantsto
‘Vacanciesfilledfrom
Section8andPubl

HousingWaitingList:
QualifiedNon-Profit |_X_Yes__No
MajorityOwnerwith |~_N/Afornon-LINTCprojectsROFR: _
RighttoseekaQualified|_X_Yes(Noisnotanoption)
Contractwaived: |NVA fornon-LIFTCprojects
GreenDesignand |MinimumGreenBuildingCertificationRequired:
BuildingThreshold __ 2020EnterpriseGreenCommunitiesCriteria(EGC)(rehabilitation
Requirements: projectsofanysizeandnewconstructionbuildingslessthan50,000sf)
|_X_ 2020EnterpriseGreenCommunitiesCriteriaPlus(EGC+)(new
|constructionbuildingswithatleast50,000sf)
___Level1AcceleratedSavingsRecognitionAlternativeCompliance|Pathway(ACP)OptionforcompliancewithDOEE’sBEPS|(ehabilitationprojectsofatleast50,000sfifnotwaivedbyDOEEdue|tocurrentcompliance)| Other(withDHCD approval):/SpecifvJ=

SolarReady:_X_Yes(Noisnotanoption)|SolarIncluded:_—Yes_No

4901-9541-4806,v.5

ResilientBuildingsand |AdvancedCertification(s)orInnovativeDesignFeaturesPursuec
InnovativeDesign: |___ 2020EnterpriseGreenCommunitiesCriterion5.4AchievingZero
|Energy
|___2020EnterpriseGreenCommunitiesPlus(EGCPlus)|Gehabilitationprojectsofanysizeandnewconstructionbuildingsless
|than50,000sf)
|___TRUEZeroWasteCertification
|___ WholeBuildingLife-CycleAssessment(LCA)SupportedLow-
|EimbodiedCarbonDesign
|_X__2015EnterpriseGreenCommunitiesCriterion6.5|EnvironmentallyResponsibleMaterialSelectionforConcrete,Steel,and
Insulation
__ Mass-TimberConstruction;and/orModularConstruction
____BuildingElectrification(noon-sitecombustion)
_ UseofDOBE ResilienceandSolarAssessmentTool
ResidentServices: __X__PerResidentServicesPlan
|%ofcoreservicecostsfundedoutsideofprojectbudget:__ Upto33%____ Between 33% and 50%
= Over80%
|BudgetSource(checkallthatapply):__DeveloperFee__"FundraisingOperatingBudget___Other

ServicesOffered(checkallthatapply):Training& EducationalProgramming—AcademicandEconomicmpowerment,‘Training& EducationalProgramming—Environment,HealthandelinessResidentInvolvementandOrganizationalCapacity-BuildingOnsiteDaycareServices
iLe

Community-Oriented |CommunityAmenities(checkallthatapply):
Amenities: |__HighSpeedInternet(atleast5yearsatnocharge;entirebuilding)|= Playground___Daycare/Preschool|X_ Community/Mfalti-purposeRoom_X__FitnessCenter|=. OnsiteGrocer/FarmersMarket/FoodProvision/Garden|> HealthFacilityOnsitea | In-unitwasher/dryer
WorkforceDevelopment: | Alocalapprenticeshipprogramexceedingminimum
|apprenticeshiphoursworkedbyDCresidentsby10%ormoreExceedingtheDistrict’sFirstSourceHiringrequirementby10%more|____CertifiedBusinessEnterprise(CBE)participationof50%ormoreUtilizingoneormoreoftheDCGreenJobsorWorkforce|DevelopmentPrograms
OtherProjectFeatures: CommercialSpace(s): SF
_"X—_Resident/CommunityAmenitySpaces:2,851SF

4901-9541-4808,v.6

__X_ParkingSpaces__17_#ofspacesOther:[Describe]UtilizationofCondoorTaxLotRegimeforIneligibleUses

oo ialExp!DevelopmentTeam Members
Developer/Sponsor:Developer/Sponsor1:KayeSternProperties& DantesPartners“_Developer/Sponsor2(ifapplicable):NFPAffordableHousingCorp.
General Non-ProfitMember(51%):
Partner/Managing|For-ProfitMember(49%):
Member: |
GeneralContractor:MeCulloughConstruction
Architect: TortiGallasUrban

‘ManagementAgent: FariaManagement
DevelopmentConsultant:
ConstructionManager:_ | No..07Consultants
‘SupportiveServices CommunityConnectionsDC

Provider(PSH):
‘ResidentServices |HorizonHousingFoundation
Provider(Property-wide):
Other:
(Conditions
StandardConditions:T.Compliancewithallapplicableregulationsandrequirements,includingbutnotlimitedtoOPMclearance,Councilapproval,andstandardDHCDduediligenceitems.|2.Receiptof2024(orlater)offerofSaleandevidenceofTenants?Associationassignmentofrights(also2026orlater)
3.LoanRight-sizing.TheLoanisanot-to-exceedamountintendedtoprovidetheminimumgapfinancingneededtocompletetheProject,aftertakingintoconsiderationtheadditionalsourcesoffinancing,includingmaximizeddebt,equity,incomeandgrants,andanyProjectbudgetsavingsduetounspentcontingencyfundsorothercostsavings.TheLoanwillberight-sizedpriortotheClosingDateandaftertheClosingDateasfollows:

| _A.PriortotheClosingDate:
| i. Any increasein non-Lender sourcesbetween the dateof
Lender'sLoanReviewCommitteeapprovalandtheClosingDatewilldecreasetheLoanonadollar($1.00)fordollar($1.00)basis.Anexceptionmaybemadeforadditionalnon-LendersourcesraisedtofundunanticipatedcostincreasesordecreasesinothersourcesavailablefortheProject.
ii,__ AnydecreaseinProjectusesbetweenthedateofLender'sLoanReviewCommitteeapprovalandtheClosingDatewilldecreasetheLoanonadollar($1.00)fordollar
4901-9541-4806,v.6

(S1.00)basis.Anexceptionmaybemadefordecreasesin
Projectusesmadetooffsetunanticipatedcostincreasesor
decreasesinnon-LendersourcesavailablefortheProject.
Borrowermustpursueallavailablesolar/greenbuildingfundsavailableintheDistrictofColumbiapriortotheClosingDate.IfBorrowersecuresoneormoresourcesofsolar/ereenbuildingfunding,theLoanamountwillbereducedbythenetproceedstotheProject(fundingminusrelatedcosts)fromthesesources.IfBorrowerisunabletosecureoneormoresourcesofsolar/greenbuildingfunding,Borrowermustprovideaffirmativeevidence thatthe Projectisnot a match foravailablefunds.
AsrequestedbyLender,BorrowermustprovideexecutedcontractsorotherdocumentationacceptabletoLendertosubstantiatesoftcostbudgetlineitemsandtoright-sizetheLoanamountinaccordancewiththeserequirements.
B,AftertheClosingDate:
i. Anytemporaryusesoffunds,ifapplicable,shallbe
returnedto Lender todecrease the Loan ona dollar ($1.00)for
dollar($1.00)basis,includingfundingforanyrefundeddepositsorfinancingfeesinitiallyrequiredbyDistrictagencies,lenders,orotherparties.
LenderwillreducetheLoanonafiftycents(80.50)foreverydollar($1.00)basisforanyothernetreductioninthetotalcostsshownintheProjectBudgetduetounspentcontingencyfunds,remainingfundsinapplicableshort-termreserves,orotherbudgetsavings,unlessthecostsavingsareutilizedtocoveranunanticipateddecreaseinotherProjectsources.

LenderwillreducetheLoanonafiftycents($0.50)foreverydollar($1.00)basisforanyincreaseinfundingthatiscommittedtotheProjectaftertheClosingDateoverandabovethefundingsourcesinthefinalProjectBudget,includinganyadditionalseniorloanproceeds,unlesstheincreaseinfundingisobtainedfromanon-LendersourcetocoveranunanticipatedincreaseinProjectcostsoradecreaseinotherProjectsources.
Reserves,TheBorrower'sorganizationaldocumentsmustcontainthefollowinglanguage:Intheeventthereplacementoroperatingreserve,ifapplicable,arenotusedforitsintendedpurpose,anyfundsremaininginsuchreservesattheendofthetaxcreditcomplianceperiodoruponthesaleoftheproperty,whicheverisearlier,mustremainwiththeProject,butmaybeusedtoreduceanyoutstandingdebtontheProjectwithLender’sconsent.

-4901-9541-4806,v.5

TS.Repayment Requirements.
| ‘A. Net Cash Flow Waterfall.For the distributionof Net Cash
| Flow,Lender’sminimumstandardwaterfallisasfollows:
i i. Investor’sassetmanagementfee,whichissubjectto
i Lender'slimit;describedinsubparagraphS(5)below(the“Feei Limit”);
Otheramountsowedtoinvestor(taxliability,adjusters);
Replenishmentofoperatinganddebtservicereserves,inganyadvances,onlyifrequiredbyseniorlenderand/orinvestor;
iv,_ Partnership/Companymanagementfee,whichissubject,to theFee Limit;
v. Deferredpropertymanagementfee,sponsor/managingmemberloan.
viDeferreddeveloperfeeuntilpaidinfull;and
| ii, Afterthedeferreddeveloperfeeispaidinfull,50%to
| paytheLoan,

|B, FeeLimit,Theinitial,aggregateamountoftheFederalLINTCinvestor'sassetmanagementfeeandthePartnership/Companymanagementfeecannotexceed$200perunitperannum.Eachfeecanincreaseby3%annually,subjecttoinvestorapproval.
C.NetCapitalProceedsWaterfall.ForthedistributionofnetproceedsresultingfromanyCapitalTransaction,LenderrequiresthatthefirstpriorityinthewaterfallbepaymentofanydebtsowedbyBorrowerinorderoflienpriority/recordingorder,exceptthoseduetothepartners/membersofBorrowerand/ortheiraffiliates.
SpecialConditions:

~~ Definitions a|Theamountofmoneyorthefairmarketvalueofotherproperty|contributedto Borrower by itsmembers/partners in accordance with the
|Borrower'sorganizationaldocuments.
CapitalContribution:

CustomaryandreasonablecostsandexpensesincurredbyBorrowerconnectionwithcertainmajorrepairs,replacementsandimprovementsoftheProjectwhicharenormallycapitalizedundergenerallyacceptedaccountingprinciples,including,butnotlimitedto,theperformanceofworktotheroofs,chimneys,gutters,downspouts,paving,curbs,ramps,driveways,balconies,porches,patios,exteriorwalls,exteriordoorsanddoorways,windows,elevators,interiorwalls,appliances,carpeting,painting,vinylflooring,plumbing,plumbingfixtures,countertops,cabinets,waterheaters,electricalsystems,electricalfixtures,clubhouserepairs,pool,spa,landscaping,fences,gates,parkingareas,carports,
garages,sidewalks,lightfixtures,shingles,woods,bricks,stucco,
securitysystems,smokedetectors,stairs,boilers,laundryroom,window.
CapitalExpenditures:

4901-9541-4806,v.5

CapitalTransaction:
“ClosingDate:
Net Cash Flow:
OperatingExpenses:

‘weaiments,bathvanities,bathtubsandmechanicalandHVACequipment,"AnytransactionoutoftheordinarycourseofBorrower'sbusinessthatis"capitalinnature,includingwithoutlimitation,thedisposition,whether|bysale(exceptwhensuchsaleproceedsaretobeusedpursuantto@|planorbudgetapprovedbyallofBorrower'smembers/partners),"casualty(wheretheproceedsarenottobeusedforreconstruction),|condemnation,refinancingorsimilareventofanypartoralofthe|Project.Date of ii

jalfinancialclosing.
|OperatingRevenueless(a)OperatingExpenses(includingrequired|reserveamounts),(b)must-paydebtservice,(c)paymentsforCapitalExpendituresthatexceedapplicablereservesorothersources,asapprovedbyLender.“OperatingExpenses”shallmeanwithrespecttoeachfiscalyearorportionthereof,thesumofthefollowingcashexpendituresandallexpensesunpaid,butproperlyaccrued,thatareincurredincidenttotheoperationoftheProjectbyBorrowerduringsuchperiod:operatingcostsincurredbyBorrowerforthemanagement,operation,cleaning,leasing,marketing,andmaintenanceoftheProject,includingwithoutliwages,payrollandaccountingcosts,utilities,maintenancecostsotherthanCapitalExpenditures,licensefeesandbusinesstaxes,theproperty‘managementfee,excepttotheextentsuchfeeisdeferredandpaidfrom|availableNetCashFlow,applicationfees,compliancemonitoringfees,
|andanydelinquentrentthatiswrittenoff;;reasonablemonthlyreserves|forallrealestatetaxesandassessmentsimposedupontheProjectand

requiredtobepaidbyBorrower,butonlytotheextentsuchtaxesandassessmentsarepaidorsetasideasareservebyBorrowerduringsuch|fiscalyear;reasonablemonthlyreservesforinsurancepremiums;andrequireddepositsintothereplacementreserveandotherreservesofescrowaccounts.
|Theterm“OperatingExpenses”shallnotincludeanyofthefollowing:|depreciation,amortization,depletionorothernon-cashexpenses;must-|paydebtservice;allcosts,liabilitiesandexpensesassociatedwith|acquiring,constructing/rehabilitating,developingoroperatingthe|Project,including,butnotlimitedto,thosecostsreflectedintheForm202andincludingpaymentofthedeveloperfee(netofanydeferred|developerfee),whichhavebeenincurredto(i)acquiretheProject,(ii)|achievethePlacedinServiceDate,(iii)remedyanydefectsinthe|constructionoftheProjectand/oranyvarianceinconstructionfromthe|PlansandSpecificationsthatisdiscoveredwithinone(1)yearafter|initialoccupancyofallofthehousingunitsorshouldhavebeen|discoveredwithinsuchtimeperiodandisdiscoverednotlaterthanthree|@)yearsafterinitialoccupancyofallofthehousingunits,(iv)all|OperatingExpensesandmust-paydebtserviceattributabletotheperiod|priortothePermanentLoanClosingDate,(v)theinitialfundingofany|requitedreservesandescrowsintheamountsapprovedbyLenderasof|theClosingDate,and(vi)achieveconversiontopermanentfinancing;_andanyotherfeesorpaymentscontingentonavailableNetCashFlow.

4901-9541-4806,v.5

OperatingRevenue: TAllactualcollectedrevenuereceivedfromrents,leasepayments,andall|othersources(includinganyreleaseoffundsfromreservesorescrows),|butexcludingtenantsecurityorotherdeposits(excepttotheextent|forfeitedtoBorrower);CapitalContributionsandinterestthereon;{proceedsfromCapitalTransactions;interesteamedonreservesnotvailablefordistribution;andnetproceedsofanyinsurance(includingrentallossor interruptioninsurance),otherthanfireandextended‘coverageandtitleinsurance,totheextentnotusedforrebuildingofthe
. Project __ _PlacedinServiceDate: thedatethattheProjectreceivesacertificateofoccupancyfromtheDistrictofColumbiagovernmentcertifyingthatthedevelopmentofthe|ProjectiscompleteandtheProjectcanbeoccupiedbytenants.Inthe
|eventthattheProjectdoesnotneedacertificateofoccupancytobe|occupied by tenants,then the Placed in ServiceDate shallbe the dateof
substantialcompletionoftheProjectascertifiedbytheProjectarchitect.

4901-9541-4806,v.5

EXHIBIT B
PROJECT BUDGET
B-1
4931-1887-9702,v.4
ied DHCD.DEVELOPMENTBUDGET

TOTALDEVELOPMENTCOSTS
hielo aepeel Footed|sycou[OF] Carper |_POCE

ACOUSTTONtangAcqCaneReganoneCoe
TerAcesConterAegisCoasterAegoreCossAegonCost TRS SS

fcooniesCoss ma a aTSiewre TeWo Stab 30187[Econ]Rend Sis S180Pat Sieo17 aaeh S58 S018[seniConia Sige SenoBeesea, sn S08conse Senior EaGuwee SIs S58facecen 51500 Sisoo Son seStarSena S350 SoEsse Sue S105
iComrieCa ee SOTeaT
sorscostsPectin Sas TaeDeciet&EnseeeSoe 1500 S10[ARERemit CosRevieCEEDL Sioeaie Sioa[OweRepCanonNoon S730 Sa[BorowerLas Sina StaPp Ssamt0 S000ReiondapFas Epo Bs Ses[sepee sat si[tayComesra Sam onft su Sis Sis[EienES Rope Sis SisFesingadepesan S120 S100HatenteroReo 351.0 S00erGenetabytre Sion sion[eosPoaTse(essingFerConCom a r=[ste $060om susnfre B20[scarNecoCo S50fsacnCon SsfoisCones Crasapes SseosCos. SisreserReson Sse
[reatsatica Seas
DDCHEAFINANCINGCOSTS[DCHFABendAplenonFe[BCFAkinsAgplesionFoe[DCHEAMekinssFaseee[DcuFAremmegFe soe[DCHFAContactsManiaFo ‘S02[peHEAOrs[DCEirsComalFa a[DCHEAierFes6Bas[BCUFAhaeFeBo)[BCFAUreActonFe SmIMekineyI[fiaCTF racngCo Tae
‘oriteRsixaxcinecosts[bucoLiteAiesiosFee saefpcumicre S130BesaCosme SkaonaPeer Ct[stericFe Bias[UsteweiersCommeseSauFe sasingAgenrngFo S050[RegatvebiHasCedieee[CosctenProdmeronCae ae[ceiverCcFe[cessionLotAnalFe
Tal ted‘Cad
coorsLerCom sinsrsecinLendersIngen 508nie ee
Pease:eselessenFerPeartenderConeee
efConcoxcrag‘a
‘satPeconege
EOL [Se

sc Aver a sow
faiares Fe[r-deeiopnen:LenerLapT a Sa] aese LassRelCo sists Fist]—s1e76[etessopsentsrne SST sae aS
losFanciCo9BandUWFasa Roe oe | aoe[oirFungCont "00. Sio|—s0.[oirFannConSa Co Sia a[PotterFannCos Boor saa| seer
[eesRorAcgienCom Se enFecesAegonCons[ZetaDevopersFe SE San] Se

[RESERVESANDESCROWS(nadmcs on)
[ceseUpReine 008RepcomentReneDepaa ae S85besSensor cre
friesReere3foieReseloierReene[oerReeves[FeatenenessadEraer ae sa
as
$5035
EEE

[foracusesorFans Las
SUAXIMUDEVELOPERSFEE
Tearee |

FeaRenacgunion

a a

{rotDehn CotfreDeerFondGacenlRees sour
lewureSyescnsdBondiningRadCoe si08019ssAegonCoss Suro.IeConconCa Sz[esrSaCutsFrc Cong e500[iesAen Feas Sa
ws coun| Cop ont
[cme S367 sa a

isterCom

“BwSeeks

EXHIBIT C
CONSTRUCTION DRAW SCHEDULE
Cl
-4991-1667-9702,v.4

1
1
1
1
1
1
1
1
i
1
i
1
i
!
1
1
1
1
1
1
nae
vans
canna
sie
crraE
canny
wane
sayas
raya
nagat
rae
POU
Ppt

EXHIBIT D
FEDERAL LABOR STANDARDS CONTRACT ADDENDUM
D-1
4931-1667-9702,v.4
HuD-4010 U.S.DepartmentofHousingandUrbanDevelopmentFederalLaborStandardsProvisions OfficeofDavis-BaconandLaborStandards

‘A.APPLICABILITYTheProjectorProgramtowhichtheconstructionworkcoveredbythisContractpertainsisbeingassistedbytheUnitedStatesofAmerica,andthefollowingFederalLaborStandardsProvisionsareincludedinthisContractpursuanttotheprovisionsapplicabletosuchFederalassistance.
1,Minimumwagesandfringebenefitsi.Alllaborersandmechanicsemployedorworkinguponthesiteofthework(orotherwiseworkingin
constructionordevelopmentoftheprojectunderadevelopmentstatute},willbepaidunconditionallyandnotlessoftenthanonceaweek,andwithoutsubsequentdeductionorrebate‘onanyaccount(exceptsuchpayrolldeductionsasarepermittedbyregulationsissuedbythe
SecretaryofLaborundertheCopelandAct(29CFRpart3),thefullamountofbasichourlywagesandbonafidefringebenefits(orcashequivalentsthereof)dueattimeofpaymentcomputedatratesnotlessthanthosecontainedinthewagedeterminationoftheSecretaryofLaborwhichis
attachedheretoandmadea parthereof,regardlessofanycontractualrelationshipwhichmaybeallegedtoexistbetweenthecontractorandsuchlaborersandmechanics.Asprovidedin29CFR5.5(d)and(2),theappropriatewagedeterminationsareeffectivebyoperationoflawevenifthey
havenotbeenattachedtothecontract.ContributionsmadeorcostsreasonablyanticipatedforbonafidefringebenefitsundertheDavis-BaconAct(40U.S.C.3141(2)(8)}onbehalfoflaborersormechanicsareconsideredwagespaidtosuchlaborersormechanics,subjecttotheprovisionsofparagraph(a}(1)(v)ofthesecontractclauses;also,regularcontributionsmade orcostsincurredfor
morethanaweeklyperiod(butnotlessoftenthanquarterly)underplans,funds,orprogramswhichcovertheparticularweeklyperiod,aredeemedtobeconstructivelymadeorincurredduringsuchweeklyperiod.Suchlaborersandmechanicsmustbepaidtheappropriatewagerateandfringe
benefitsonthewagedeterminationfortheclassification(s)ofworkactuallyperformed,withoutregardtoskill,exceptasprovidedin29CFR5.5(a)(4).Laborersormechanicsperformingworkin
morethanoneclassificationmaybecompensatedattheratespecifiedforeachclassificationforthetimeactuallyworkedtherein:Provided,Thattheemployer'spayrollrecordsaccuratelysetforththetimespentineachclassificationinwhichworkisperformed.Thewagedetermination(includinganyadditionalclassificationsandwageratesconformedunder29CFR5.5(a)(1){i))andtheDavis-Bacon
poster(WH-1321)mustbepostedatalltimesbythecontractoranditssubcontractorsatthesiteof,theworkinaprominentandaccessibleplacewhereitcanbeeasilyseenbytheworkers.
i, Frequentlyrecurringclassifications‘A.Inadditiontowageandfringebenefitratesthathavebeendeterminedtobeprevailingundertheproceduressetforthin29CFRpart1,awagedeterminationmaycontain,pursuantto§1.3(f),
wageandfringebenefitratesforclassificationsoflaborersandmechanicsforwhichconformancerequestsareregularlysubmittedpursuantto29CFR5.5(a)(1){ili),providedthat:
1.Theworkperformedbytheclassificationisnotperformedbyaclassificationinthewage
determinationforwhichaprevailingwageratehasbeendetermined;2.Theclassificationisusedintheareabytheconstructionindustry;and3,Thewageratefortheclassificationbearsareasonablerelationshiptotheprevailingwagerates
containedinthewagedetermination.B,TheAdministratorwillestablishwageratesforsuchclassificationsinaccordancewith29CFR5.5(a}(1)(ti)(A)(3).Workperformedinsuchaclassificationmustbepaidatnolessthanthewage
andfringebenefitratelistedonthewagedeterminationforsuchclassification,
ConformanceA, Thecontractingofficermustrequirethatanyclassoflaborersormechanics,includinghelpers,whichisnotlistedinthewagedeterminationandwhichistobeemployedunderthecontractbe
Previouseditionsobsolete 1 FormHUD-4010,(10/2023)
ref.Handbook1344.1

classifiedinconformancewiththewagedetermination.Conformanceofanadditionalclassification
andwagerateandfringebenefitsisappropriateonlywhenthefollowingcriteriahavebeenmet:
1.Theworktobeperformedbytheclassificationrequestedisnotperformedbyaclassificationin
thewagedetermination;and
2.Theclassificationisusedintheareabytheconstructionindustry;and3.Theproposedwagerate,includinganybonafidefringebenefits,bearsareasonablerelationshiptothewageratescontainedinthewagedetermination.
B,Theconformanceprocessmaynotbeusedtosplit,subdivide,orotherwiseavoidapplicationof
classificationslistedinthewagedetermination.€. Ifthecontractorandthelaborersandmechanicstobeemployedintheclassification(ifknown),
ortheirrepresentatives,andthecontractingofficeragreeontheclassificationandwagerate
(includingtheamountdesignatedforfringebenefitswhereappropriate),areportoftheaction
takenwillbesentbythecontractingofficerbyemailtoDBAconformance@dol.gov.The
Administrator,oranauthorizedrepresentative,willapprove,modify,ordisapproveevery
additionalclassificationactionwithin30daysofreceiptandsoadvisethecontractingofficeror
willnotifythecontractingofficerwithinthe30-dayperiodthatadditionaltimeisnecessary.
D.Intheeventthecontractor,thelaborersormechanicstobeemployedintheclassificationor
theirrepresentatives,andthecontractingofficerdonotagreeontheproposedclassification
andwagerate(includingtheamountdesignatedforfringebenefits,whereappropriate),the
contractingofficerwill,byemailtoDBAconformance@dol.gov,referthequestions,including
‘theviewsofallinterestedpartiesandtherecommendationofthecontractingofficer,totheAdministratorfordetermination.TheAdministrator,oranauthorizedrepresentative,willissue
adeterminationwithin30daysofreceiptandsoadvisethecontractingofficerorwillnotify
thecontractingofficerwithinthe30-dayperiodthatadditionaltimeisnecessary.
E,ThecontractingofficermustpromptlynotifythecontractoroftheactiontakenbytheWage
andHourDivisionunder29CFR5.5(a)(1){i)(C)and(0).Thecontractormustfurnishawritten
copyofsuchdeterminationtoeachaffectedworkeroritmustbepostedasapartofthewage
determination.Thewagerate(includingfringebenefitswhereappropriate)determinedpursuantto29CFR5.5(a}(2)(i)(C)or(D)mustbepaidtoallworkersperformingworkinthe
Classificationunderthiscontractfromthefirstdayonwhichworkisperformedinthe
classification,iv.Fringebenefitsnotexpressedasanhourlyrate
‘Whenevertheminimumwagerateprescribedinthecontractforaclassoflaborersormechanics
includesafringebenefitwhichisnotexpressedasanhourlyrate,thecontractormayeitherpaythe
benefitasstatedinthewagedeterminationormaypayanotherbonafidefringebenefitoranhourly
cashequivalentthereof.
v. UnfundedplansIfthecontractordoesnotmakepaymentstoatrusteeorotherthirdperson,thecontractormay
consideraspartofthewagesofanylaborerormechanictheamountofanycostsreasonably
anticipatedinprovidingbonafidefringebenefitsundera planorprogram,Provided,Thatthe
SecretaryofLaborhasfound,uponthewrittenrequestofthecontractor,inaccordancewiththe
criteriasetforthin29CFR5.28,thattheapplicablestandardsoftheDavis-BaconActhavebeenmet.
TheSecretaryofLabormayrequirethecontractortosetasideinaseparateaccountassetsforthe
meetingofobligationsundertheplanorprogram.vi.InterestIntheeventofafailuretopayallorpartofthewagesrequiredbythecontract,the
contractorwillberequiredtopayinterestonanyunderpaymentofwages.

Previouseditionsobsolete 2 FormHUD-4010,(10/2023)
ref,Handbook1344.1
2 Withholding
i,WithholdingrequirementsTheU.S,DepartmentofHousingandUrbanDevelopmentmay,uponitsownaction,ormust,uponwrittenrequestofanauthorizedrepresentativeoftheDepartmentofLabor,withholdorcausetobe
withheldfromthecontractorsomuchoftheaccruedpaymentsoradvancesasmaybeconsiderednecessarytosatisfytheliabilitiesoftheprimecontractororanysubcontractorforthefullamountofwagesandmonetaryrelief,includinginterest,requiredbytheclausessetforthin29CFR5.5(a)
forviolationsofthiscontract,ortosatisfyanysuchliabilitiesrequiredbyanyotherFederalcontract,orfederallyassistedcontractsubjecttoDavis-Baconlaborstandards,thatisheldbythesameprimecontractor(asdefinedin29CFR5.2).Thenecessaryfundsmaybewithheldfromthe
contractorunderthiscontract,anyotherFederalcontractwiththesameprimecontractor,oranyotherfederallyassistedcontractthatissubjecttoDavis-Baconlaborstandardsrequirementsandisheldbythesameprimecontractor,regardlessofwhethertheothercontractwasawardedor
assistedbythesameagency,andsuchfundsmaybeusedtosatisfythecontractorliabilityforwhichthefundswerewithheld.Intheeventofacontractor'sfailuretopayanylaborerormechanic,
includinganyapprenticeorhelperworkingonthesiteofthework(orotherwiseworkingin
constructionordevelopmentoftheprojectunderadevelopmentstatute)allorpartofthewagesrequiredbythecontract,oruponthecontractor'sfailuretosubmittherequiredrecordsasdiscussedin29CFR5.5(a)(3)(iv),HUDmayonitsowninitiativeandafterwrittennoticetothe
contractor,sponsor,applicant,owner,orotherentity,asthecasemaybe,takesuchactionasmaybenecessarytocausethesuspensionofanyfurtherpayment,advance,orguaranteeoffundsuntil
suchviolationshaveceased.ii,Prioritytowithheldfunds‘TheDepartmenthasprioritytofundswithheldortobewithheldinaccordancewith29CFR5.5(a}(2)(i)or(b}(3)(i),orboth,overclaimstothosefundsby:
‘A.Acontractor’ssurety(ies),includingwithoutlimitationperformancebondsuretiesand
paymentbondsureties;B.Acontractingagencyforitsreprocurementcosts;C,Atrustee(s)(eithera court-appointedtrusteeoraU.S.trustee,orboth)inbankruptcyofa
contractor,oracontractor'sbankruptcyestate;
D.Acontractor’sassignee(s};E,Acontractor’ssuccessor(s);orF.AclaimassertedunderthePromptPaymentAct,31U.S.C,3901-3907,
Recordsandcertifiedpayrolls
i.BasicrecordrequirementsA.Lengthofrecordretention.Allregularpayrollsandotherbasicrecordsmustbemaintainedby
‘thecontractorandanysubcontractorduringthecourseoftheworkandpreservedforalllaborersandmechanicsworkingatthesiteofthework(orotherwiseworkinginconstructionordevelopmentoftheprojectunderadevelopmentstatute)foraperiodofatleast3years
afteralltheworkontheprimecontractiscompleted.B.InformationrequiredSuchrecordsmustcontainthename;SocialSecuritynumber;lastknown
address,telephonenumber,andemailaddressofeachsuchworker;eachworker'scorrectclassifications)ofworkactuallyperformed;hourlyratesofwagespaid(includingratesof
contributionsorcostsanticipatedforbonafidefringebenefitsorcashequivalentsthereofofthetypesdescribedin40U.S.C.3141(2}(B)oftheDavis-BaconAct);dailyandweeklynumberof
hoursactuallyworkedintotalandoneachcoveredcontract;deductionsmade;andactual
wagespaid.€.Additionalrecordsrelatingtofringebenefits.WhenevertheSecretaryofLaborhasfound
under29CFR5.5{a)(1){v)thatthewagesofanylaborerormechanicincludetheamountofany
Previouseditionsobsolete 3 FormHUD-4010,(10/2023)ref.Handbook1344.1
HuD-4010 U.S.DepartmentofHousingandUrbanDevelopment
FederalLaborStandardsProvisions OfficeofDavis-BaconandLaborStandards

a
1

"APPLICABILITYTheProjectorProgramtowhichtheconstructionworkcoveredbythisContractpertainsisbeingassistedbytheUnitedStatesofAmerica,andthefollowingFederalLaborStandardsProvisionsare
includedinthisContractpursuanttotheprovisionsapplicabletosuchFederalassistance.Minimumwagesandfringebenefits
i.Alllaborersandmechanicsemployedorworkinguponthesiteofthework(orotherwiseworkinginconstructionordevelopmentoftheprojectunderadevelopmentstatute},willbepaidunconditionallyandnotlessoftenthanonceaweek,andwithoutsubsequentdeductionorrebate
‘onanyaccount(exceptsuchpayrolldeductionsasarepermittedbyregulationsissuedbytheSecretaryofLaborundertheCopelandAct(29CFRpart3}),thefullamountofbasichourlywagesandbonafidefringebenefits(orcashequivalentsthereof)dueattimeofpaymentcomputedat
ratesnotlessthanthosecontainedinthewagedeterminationoftheSecretaryofLaborwhichisattachedheretoandmadeaparthereof,regardlessofanycontractualrelationshipwhichmaybeallegedtoexistbetweenthecontractorandsuchlaborersandmechanics.Asprovidedin29CFR
5.5(d)and(e),theappropriatewagedeterminationsareeffectivebyoperationoflawevenifthey
havenotbeenattachedtothecontract.ContributionsmadeorcostsreasonablyanticipatedforbonafidefringebenefitsundertheDavis-BaconAct(40U.S.C.3141(2)(8))onbehalfoflaborersor
mechanicsareconsideredwagespaidtosuchlaborersormechanics,subjecttotheprovisionsofparagraph(a)(1)v)ofthesecontractclauses;also,regularcontributionsmadeorcostsincurredformorethanaweeklyperiod(butnotlessoftenthanquarterly)underplans,funds,orprogramswhich
covertheparticularweeklyperiod,aredeemedtobeconstructivelymadeorincurredduringsuchweeklyperiod.Suchlaborersandmechanicsmustbepaidtheappropriatewagerateandfringebenefitsonthewagedeterminationfortheclassification(s)ofworkactuallyperformed,withoutregardtoskill,exceptasprovidedin29CFR5.5(a)(4).Laborersormechanicsperformingworkin
‘morethanoneclassificationmaybecompensatedattheratespecifiedforeachclassificationforthetimeactuallyworkedtherein:Provided,Thattheemployer'spayrollrecordsaccuratelysetforththe
timespentineachclassificationinwhichworkisperformed.Thewagedeterminationincludinganyadditionalclassificationsandwageratesconformedunder29CFR5.5(a}(1)il))andtheDavis-Baconposter(WH-1321)mustbepostedatalltimesbythecontractoranditssubcontractorsatthesiteof,
theworkinaprominentandaccessibleplacewhereitcanbeeasilyseenbytheworkers.FrequentlyrecurringclassificationsA.Inadditiontowageandfringebenefitratesthathavebeendeterminedtobeprevailingunder
theproceduressetforthin29CFRpart1,awagedeterminationmaycontain,pursuantto§1.3(f),wageandfringebenefitratesforclassificationsoflaborersandmechanicsforwhichconformance
requestsareregularlysubmittedpursuantto29CFR5.5(a)(1)(ii),providedthal
1.Theworkperformedbytheclassificationisnotperformedbyaclassification
determinationforwhichaprevailingwageratehasbeendetermined;2,Theclassificationisusedintheareabytheconstructionindustry;and
3.Thewageratefortheclassificationbearsareasonablerelationshiptotheprevailingwagerates
containedinthewagedetermination,B,TheAdministratorwillestablishwageratesforsuchclassificationsinaccordancewith29CFR
5.5(a)(1)(ii)(A)(3).Workperformedinsucha classificationmustbepaidatnolessthanthewage
andfringebenefitratelistedonthewagedeterminationforsuchclassification.
fii,Conformance‘A.Thecontractingofficermustrequirethatanyclassoflaborersormechanics,includinghelpers,
‘whichisnotlistedinthewagedeterminationandwhichIstobeemployedunderthecontractbe

thewage

Previouseditionsobsolete 1 FormHUD-4010,(10/2023)
ref.Handbook1344.1
classifiedinconformancewiththewagedetermination.Conformanceofanadditionalclassification
andwagerateandfringebenefitsisappropriateonlywhenthefollowingcriteriahavebeenmet:1.Theworktobeperformedbytheclassificationrequestedisnotperformedbyaclassificationin
thewagedetermination;and2.Theclassificationisusedintheareabytheconstructionindustry;and3. Theproposedwagerate,includinganybonafidefringebenefits,bears@reasonablerelationshiptothewageratescontainedinthewagedetermination.
8,Theconformanceprocessmaynotbeusedtosplit,subdivide,orotherwiseavoidapplicationofClassificationslistedinthewagedetermination.. Ifthecontractorandthelaborersandmechanicstobeemployedintheclassification(ifknown),
ortheirrepresentatives,andthecontractingofficeragreeontheclassificationandwagerate{includingtheamountdesignatedforfringebenefitswhereappropriate),areportoftheaction
takenwillbesentbythecontractingofficerbyemailtoDBAconformance@dol.gov.TheAdministrator,oranauthorizedrepresentative,willapprove,modify,ordisapproveeveryadditionalclassificationactionwithin30daysofreceiptandsoadvisethecontractingofficeror
willnotifythecontractingofficerwithinthe30-dayperiodthatadditionaltimeisnecessary.D.Intheeventthecontractor,thelaborersormechanicstobeemployedintheclassificationortheirrepresentatives,andthecontractingofficerdonotagreeontheproposedclassification
andwagerate(includingtheamountdesignatedforfringebenefits,whereappropriate),thecontractingofficerwill,byemailtoDBAconformance@dol.gov,referthequestions,includingtheviewsofallinterestedpartiesandtherecommendationofthecontractingofficer,tothe‘Administratorfordetermination.TheAdministrator,oranauthorizedrepresentative,willissue
adeterminationwithin30daysofreceiptandsoadvisethecontractingofficerorwillnotifythecontractingofficerwithinthe30-dayperiodthatadditionaltimeisnecessary.E,ThecontractingofficermustpromptlynotifythecontractoroftheactiontakenbytheWage
andHourDivisionunder29CFR5.5(a)(2)(ii)(C)and(0).Thecontractormustfurnishawrittencopyofsuchdeterminationtoeachaffectedworkeroritmustbepostedasapartofthewagedetermination.Thewagerate(includingfringebenefitswhereappropriate)determined
pursuantto29CFR5.5(a)(1)(i](C)or(0)mustbepaidtoallworkersperformingworkintheClassificationunderthiscontractfromthefirstdayonwhichworkisperformedinthe
classification.1.Fringebenefitsnotexpressedasanhourlyrate‘Whenevertheminimumwagerateprescribedinthecontractforaclassoflaborersormechanics
includesa fringebenefitwhichisnotexpressedasanhourlyrate,thecontractormayeitherpaythebenefitasstatedinthewagedeterminationormaypayanotherbonafidefringebenefitoranhourly
‘cashequivalentthereof.
v. Unfundedplans
Ifthecontractordoesnotmakepaymentstoatrusteeorotherthirdperson,thecontractormay
consideraspartofthewagesofanylaborerormechanictheamountofanycostsreasonablyanticipatedinprovidingbonafidefringebenefitsundera planorprogram,Provided,ThattheSecretaryofLaborhasfound,uponthewrittenrequestofthecontractor,inaccordancewiththe
criteriasetforthin29CFR5.28,thattheapplicablestandardsoftheDavis-BaconActhavebeenmet.‘TheSecretaryofLabormayrequirethecontractortosetasideinaseparateaccountassetsforthe
meetingofobligationsundertheplanorprogram.vi.InterestIntheeventofafailuretopayallorpartofthewagesrequiredbythecontract,the
contractorwillberequiredtopayinterestonanyunderpaymentofwages.

Previouseditionsobsolete 2 FormHUD-4030,(10/2023)ref.Handbook1344.1
2. Withholdingi,WithholdingrequirementsTheU.S.DepartmentofHousingandUrbanDevelopmentmay,uponitsownaction,ormust,upon
writtenrequestofanauthorizedrepresentativeoftheDepartmentofLabor,withholdorcausetobe
withheldfromthecontractorsomuchoftheaccruedpaymentsoradvancesasmaybeconsiderednecessarytosatisfytheliabilitiesoftheprimecontractororanysubcontractorforthefullamount‘ofwagesandmonetaryrelief,includinginterest,requiredbytheclausessetforthin29CFR5.5(a)
forviolationsofthiscontract,ortosatisfyanysuchliabilitiesrequiredbyanyotherFederalcontract,orfederallyassistedcontractsubjecttoDavis-Baconlaborstandards,thatisheldbythe
sameprimecontractor(asdefinedin29CFR5.2).Thenecessaryfundsmaybewithheldfromthe
contractorunderthiscontract,anyotherFederalcontractwiththesameprimecontractor,oranyotherfederallyassistedcontractthatissubjecttoDavis-Baconlaborstandardsrequirementsandis
heldbythesameprimecontractor,regardlessofwhethertheothercontractwasawardedorassistedbythesameagency,andsuchfundsmaybeusedtosatisfythecontractorliabilityforwhich
thefundswerewithheld.Intheeventofacontractor'sfailuretopayanylaborerormechanic,
includinganyapprenticeorhelperworkingonthesiteofthework(orotherwiseworkinginconstructionordevelopmentoftheprojectunderadevelopmentstatute)allorpartofthewagesrequiredbythecontract,oruponthecontractor'sfailuretosubmittherequiredrecordsas
discussedin29CFR5.5(a)(3)(iv),HUDmayonitsowninitiativeandafterwrittennoticetothecontractor,sponsor,applicant,owner,orotherentity,asthecasemaybe,takesuchactionasmaybbenecessarytocausethesuspensionofanyfurtherpayment,advance,orguaranteeoffundsuntil
suchviolationshaveceased.
Prioritytowithheldfunds‘TheDepartmenthasprioritytofundswithheldortobewithheldinaccordancewith29CFR
5.5(a}(2}(i)or(b)(3)(i),orboth,overclaimstothosefundsby:A.Acontractor’ssurety(ies),inclucingwithoutlimitationperformancebondsuret
paymentbondsureties;B,Acontractingagencyforitsreprocurementcosts;
C.Atrustee(s)(either2court-appointedtrusteeoraU.S.trustee,orboth)inbankruptcyofa
contractor,ofacontractor'sbankruptcyestate;
D.Acontractor'sassignee(s);E.Acontractor’ssuccessor{s);orF,AclaimassertedunderthePromptPaymentAct,31U.S.C.3901-3907,
3. Recordsandcertifiedpayrolls
i.Basicrecordrequirements
‘A,Lengthofrecordretention,Allregularpayrollsandotherbasicrecordsmustbemaintainedby
thecontractorandanysubcontractorduringthecourseoftheworkandpreservedforalllaborersandmechanicsworkingatthesiteofthework(orotherwiseworkinginconstruction
ordevelopmentoftheprojectundera developmentstatute)foraperiodofatleast3 yearsafteralltheworkontheprimecontractiscompleted.
B,InformationrequiredSuchrecordsmustcontainthename;SocialSecuritynumber;lastknown
address,telephonenumber,andemailaddressofeachsuchworker;eachworker'scorrect
classification(s)ofworkactuallyperformed;hourlyratesofwagespaid(includingratesofcontributionsorcostsanticipatedforbonafidefringebenefitsorcashequivalentsthereofof
thetypesdescribedin40U.S.C.3141(2(B)oftheDavis-BaconAct];dailyandweeklynumberof
hoursactuallyworkedintotalandoneachcoveredcontract;deductionsmade;andactual
wagespaid.. Additionalrecordsrelatingtofringebenefits.WhenevertheSecretaryofLaborhasfoundunder29CFR5.5(a)(1)(v)thatthewagesofanylaborerormechanicincludetheamountofany
Previouseditionsobsolete 3 FormHUD-4010,(10/2023)ref.Handbook1344.1
ssand
includingwithoutlimitationsickness,diseaseordeathandmentalanguishofanypersons,broadformpropertydamage,includinglossofuseresultingtherefrom,personaland
advertisinginjury,andincludingcoverageforliabilityarisingoutofanInsuredContract
(includingthetortliabilityofanotherassumedinacontract)andactsofterrorism(whethercausedbyaforeignordomesticsource).Suchcoverageshallhavelimitsofliabilityofnot
lessthan$1,000,000foreachoccurrence,and$2,000,000generalaggregate.
TheCommercialGeneralLiabilityshallbefurtherendorsedt‘a)Tothefullestextentpermittedbylaw,provideadditionalinsuredcoverageusingISOformCG 20150413(oritsequivalent)toTheGovernmentofthe
DistrictofColumbiab)Coverageavailabletotheadditionalinsuredsshallapplyonaprimaryandnon-contributingbasisasrespectsanyotherinsurance,deductibles,orself-insurance
availabletotheadditionalinsuredsc)A waiverofsubrogationinfavorofTheGovernmentoftheDistrictof
Columbia
d)AnyAnnualAggregateshallapplyonaperlocationorperprojectbasis(where
applicable)@)Defensecostsshallbeinadditiontoandnoterodethelimitsofliability

2. AutomobileLiabilityInsurance- TheDevelopershallprovideevidencesatisfactorytothe
CO ofcommercial(business)automobileliabilityinsurancewrittenonISOformCA00
011013(oranotherformwithcoverageatleastasbroadandapprovedbytheCO inwriting)includingcoverageforallowned,hired,borrowedandnon-ownedvehiclesand
equipmentusedbytheDeveloperinconnectionwithworkunderthisagreement,witha
minimumcombinedsinglelimitof$1,000,000forbodilyinjuryordeathandpropertydamage,includinglossofusethereof.Suchpolicyorpoliciesofautomobileliability
insuranceshallbewrittenonan“occurrence”(asopposedtoa"claimsmade")basis.
AutoPhysicalDamageCoverage-TheDevelopershallprovideautophysicaldamageinsurancetocover"loss"toacovered"auto"oritsequipment:
a)Comprehensive- Fire,lightningorexplosion;theft;windstorm,hailorearthquake;flood;mischieforvandalism;orthesinking,burning,collisionor
derailmentofanyconveyancetransportingthecovered"aut
b)CollisionCoverage-Causedby:Thecovered"auto's"collisionwithanother
objectorthecovered"auto's"overturn.

‘TheCommereialAuto Liabilitypolicyshallbefurtherendorsed
..Tothefullestextentpermittedbylaw,provideadditionalinsuredcoverageto
TheGovernmentoftheDistrictofColumbiab.Coverageavailabletotheadditionalinsuredsshallapplyonaprimaryandnon-
contributingbasisasrespectsanyotherinsurance,deductibles,orself-insurance
availabletotheadditionalinsureds

OMFIRM#41903568v25 H2
costsreasonablyanticipatedinprovidingbenefitsunderaplanorprogramdescribedin40
U.S.C.3141(2)(8)oftheDavis-BaconAct,thecontractormustmaintainrecordswhichshowthatthecommitmenttoprovidesuchbenefitsisenforceable,thattheplanorprogramisfinanciallyresponsible,andthattheplanorprogramhasbeencommunicatedinwritingtothelaborersor
mechanicsaffected,andrecordswhichshowthecostsanticipatedortheactualcostincurred
inprovidingsuchbenefits,D.AdditionalrecordsrelatingtoapprenticeshipContractorswithapprenticesworkingunder
approvedprogramsmustmaintainwrittenevidenceoftheregistrationofapprenticeshipprograms,theregistrationoftheapprentices,andtheratiosandwageratesprescribedinthe
applicableprograms.
fi.Certifiedpayrollrequirements‘A.FrequencyandmethodofsubmissionThecontractororsubcontractormustsubmitweekly,
foreachweekinwhichanyDBA-orRelatedActs-coveredworkisperformed,certifiedpayrollstoHUDiftheagencyisapartytothecontract,butiftheagencyisnotsuchaparty,thecontractorwillsubmitthecertifiedpayrollstotheapplicant,sponsor,owner,orother
entity,asthecasemaybe,thatmaintainssuchrecords,fortransmissiontoHUD.Theprimecontractorisresponsibleforthesubmissionofallcertifiedpayrollsbyallsubcontractors.Acontractingagencyor primecontractormaypermitorrequirecontractorstosubmitcertified
payrollsthroughanelectronicsystem,aslongastheelectronicsystemrequiresalegallyvalidelectronicsignature;thesystemallowsthecontractor,thecontractingagency,andtheDepartmentofLabortoaccessthecertifiedpayrollsuponrequestforatleast3yearsafter
theworkontheprimecontracthasbeencompleted;andthecontractingagencyorprimecontractorpermitsothermethodsofsubmissioninsituationswherethecontractorisunable
orlimitedinitsabilitytouseoraccesstheelectronicsystemB.InformationrequiredThecertifiedpayrollssubmittedmustsetoutaccuratelyandcompletely
alloftheinformationrequiredtobemaintainedunder29CFR5.5(a)(3)(i)(B),exceptthatfullSocialSecuritynumbersandlastknownaddresses,telephonenumbers,andemailaddresses
mustnotbeincludedonweeklytransmittals.Instead,thecertifiedpayrollsneedonlyinclude‘anindividuallyidentifyingnumberforeachworker(e.g.,thelastfourdigitsoftheworker'sSocialSecuritynumber).Therequiredweeklycertifiedpayrollinformationmaybesubmitted
usingOptionalFormWH-347orinanyotherformatdesired.OptionalFormWH-347isavailableforthispurposefromtheWageandHourDivisionWebsiteathttps://www.dol.gow/sites/dolgov/files/WHO/leaacy/files/wh347.pdforitssuccessorwebsite.Itisnotaviolationof
thissectionforaprimecontractortorequireasubcontractortoprovidefullSocialSecuritynumbersandlastknownaddresses,telephonenumbers,andemailaddressestotheprime.contractorforitsownrecords,withoutweeklysubmissionbythesubcontractortothe
sponsoringgovernmentagency(ortheapplicant,sponsor,owner,orotherentity,asthecasemaybe,thatmaintainssuchrecords).
C.StatementofComplianceEachcertifiedpayrollsubmittedmustbeaccompaniedbya"StatementofCompliance,”signedbythecontractororsubcontractor,orthecontractor'sorsubcontractor’sagentwhopaysorsupervisesthepaymentofthepersonsworkingonthe
contract,andmustcertifythefollowing:1, Thatthecertifiedpayrollforthepayrollperiodcontainstheinformationrequiredtobeprovidedunder29CFR5.5{a)(3)(i),theappropriateinformationandbasicrecordsarebeing
maintainedunder29CFR5.5(a)(3)(i),andsuchinformationandrecordsarecorrectand
complete;2. Thateachlaborerormechanic(includingeachhelperandapprentice)workingonthecontract
duringthepayrollperiodhasbeenpaidthefullweeklywagesearned,withoutrebate,eitherdirectlyorindirectly,andthatnodeductionshavebeenmadeeitherdirectlyorindirectly
Previouseditionsobsolete 4 FormHUD-4010,(10/2023)
ref.Handbook1344.1

fromthefullwagesearned,otherthanpermissibledeductionsassetforthin29CFRpart3;
and3. Thateachlaborerormechanichasbeenpaidnotlessthantheapplicablewageratesand
fringebenefitsorcashequivalentsfortheclassification(s)ofworkactuallyperformed,asspecifiedintheapplicablewagedeterminationincorporatedintothecontract,
D. UseofOptionalFormWH-347TheweeklysubmissionofaproperlyexecutedcertificationsetforthonthereversesideofOptionalFormWH-347willsatisfytherequirementforsubmissionofthe"StatementofCompliance”requiredby29CFR5.5(a)(3)(i)(C).
E. SignatureThesignaturebythecontractor,subcontractor,orthecontractor'sorsubcontractor’sagentmustbeanoriginalhandwrittensignatureoralegallyvalidelectronic
signature.F._ FalsificationThefalsificationofanyoftheabovecertificationsmaysubjectthecontractororsubcontractortocivilorcriminalprosecutionunder18U.S.C.1002and31U.S.C.3729,G. LengthofcertifiedpayrollretentionThecontractororsubcontractormustpreserveall
certifiedpayrollsduringthecourseoftheworkandfora periodof3 yearsafterallthework
ontheprimecontractiscompleted.iii.Contracts,subcontracts,andrelateddocumentsThecontractororsubcontractormustmaintainthis
contractorsubcontractandrelateddocumentsincluding,withoutlimitation,bids,proposals,amendments,modifications,andextensions.Thecontractororsubcontractormustpreservethese
contracts,subcontracts,andrelateddocumentsduringthecourseoftheworkandforaperiodof3yearsafteralltheworkontheprimecontractiscompleted.
ivRequireddisclosuresandaccess‘A.RequiredrecorddisclosuresandaccesstoworkersThecontractororsubcontractormust
maketherecordsrequiredunder29CFR5.5(a}(3)()Hii),andanyotherdocumentsthatHUDortheDepartmentofLabordeemsnecessarytodeterminecompliancewiththelaborstandardsprovisionsofanyoftheapplicablestatutesreferencedby29CFR5.1,availableforinspection,copying,ortranscriptionbyauthorizedrepresentativesofHUDorthe
DepartmentofLabor,andmustpermitsuchrepresentativestointerviewworkersduring
workinghoursonthejob.B, Sanctionsfornon-compliancewithrecordsandworkeraccessrequirementsifthecontractororsubcontractorfailstosubmittherequiredrecordsortomakethemavailable,orrefusestopermitworkerinterviewsduringworkinghoursonthejob,theFederalagency
‘may,afterwrittennoticetothecontractor,sponsor,applicant,owner,orotherentity,asthecasemaybe,thatmaintainssuchrecordsorthatemployssuchworkers,takesuchactionasmaybenecessarytocausethesuspensionofanyfurtherpayment,advance,orguaranteeof
funds.Furthermore,failuretosubmittherequiredrecordsuponrequestortomakesuchrecordsavailable,ortopermitworkerinterviewsduringworkinghoursonthejob,maybe
groundsfordebarmentactionpursuantto29CFR5.12.Inaddition,anycontractororotherpersonthatfallstosubmittherequiredrecordsormakethoserecordsavailabletoWHOwithinthetimeWHDrequeststhattherecordsbeproducedwillbeprecludedfrom
introducingasevidenceinanadministrativeproceedingunder29CFRpart6anyoftherequiredrecordsthatwerenotprovidedormadeavailabletoWHD.WHDwilltakeinto
considerationareasonablerequestfromthecontractororpersonforanextensionofthe
timeforsubmissionofrecords.WHDwilldeterminethereasonablenessoftherequestandmayconsider,amongotherthings,thelocationoftherecordsandthevolumeof
production,€. RequiredinformationdisclosuresContractorsandsubcontractorsmustmaintainthefullSocialSecuritynumberandlastknownaddress,telephonenumber,andemailaddressof
‘eachcoveredworker,andmustprovidethemuponrequesttoHUDiftheagencyisapartyto
Previouseditionsobsolete 5 FormHUD-4010,(10/2023)
ref,Handbook1344.1

thecontract,ortotheWageandHourDivisionoftheDepartmentofLabor.IftheFederal
agencyisnotsuchapartytothecontract,thecontractor,subcontractor,orboth,must,
uponrequest,providethefullSocialSecuritynumberandlastknownaddress,telephone
number,andemailaddressofeachcoveredworkertotheapplicant,sponsor,owner,or
otherentity,asthecasemaybe,thatmaintainssuchrecords,fortransmissiontoHUD,the
contractor,ortheWageandHourDivisionoftheDepartmentofLaborforpurposesofan
investigationorothercomplianceaction.

4. Apprenticesandequalemploymentopportunity
i.Apprentices
A

RateofpayApprenticeswillbepermittedtoworkatlessthanthepredeterminedratefortheworktheyperformwhentheyareemployedpursuanttoandindividuallyregisteredin2
bonafideapprenticeshipprogramregisteredwiththeU.S.DepartmentofLabor,EmploymentandTrainingAdministration,OfficeofApprenticeship(OA),orwithaStateApprenticeshipAgencyrecognizedbytheOA.Apersonwhoisnotindividuallyregisteredin
theprogram,butwhohasbeencertifiedbytheOAoraStateApprenticeshipAgency(whereappropriate)tobeeligibleforprobationaryemploymentasanapprentice,willbe
permittedtoworkatlessthanthepredeterminedratefortheworktheyperforminthe
first90daysofprobationaryemploymentasanapprenticeinsuchaprogram.IntheeventtheOAoraStateApprenticeshipAgencyrecognizedbytheOAwithdrawsapprovalofan
apprenticeshipprogram,thecontractorwillnolongerbepermittedtouseapprenticesatlessthantheapplicablepredeterminedratefortheworkperformeduntilanacceptable
programisapproved.FringebenefitsApprenticesmustbepaidfringebenefitsinaccordancewiththeprovisionsoftheapprenticeshipprogram.Iftheapprenticeshipprogramdoesnotspecifyfringebenefits,apprenticesmustbepaidthefullamountoffringebenefitslistedonthewage
determinationfortheapplicableclassification.IftheAdministratordeterminesthatadifferentpracticeprevailsfortheapplicableapprenticeclassification,fringebenefitsmustbepaidinaccordancewiththatdetermination,ApprenticeshipratioTheallowableratioofapprenticestojourneyworkersonthejobsitein
anycraftclassificationmustnotbegreaterthantheratiopermittedtothecontractorastotheentireworkforceundertheregisteredprogramortheratioapplicabletothelocalityof
theprojectpursuantto29CFR5.5(a)(4)(i)(0).Anyworkerlistedonapayrollatan
apprenticewagerate,whoisnotregisteredorotherwiseemployedasstatedin29CFR5.5(a)(4)(i)(A),mustbepaidnotlessthantheapplicablewagerateonthewage
determinationfortheclassificationofworkactuallyperformed.Inaddition,anyapprenticeperformingworkonthejobsiteinexcessoftheratiopermittedunderthissectionmustbe
paidnotlessthantheapplicablewagerateonthewagedeterminationfortheworkactually
performed.ReciprocityofratiosandwageratesWhereacontractorisperformingconstructionona
projectinalocalityotherthanthelocalityinwhichitsprogramisregistered,theratiosand‘wagerates(expressedinpercentagesofthejourneyworker'shourlyrate)applicablewithinthe
localityinwhichtheconstructionisbeingperformedmustbeobserved.Ifthereisnoapplicableratioorwagerateforthelocalityoftheproject,theratioandwageratespecified
inthecontractor'sregisteredprogrammustbeobserved.

iiEqualemploymentopportunityTheuseofapprenticesandjourneyworkersunderthispartmust
beinconformitywiththeequalemploymentopportunityrequirementsofExecutiveOrder11246,
asamended,and29CFRpart30.5 CompliancewithCopelandActrequirements.Thecontractorshallcomplywiththerequirementsof29CERpart3,whichareincorporatedbyreferenceinthiscontract.
Previouseditionsobsolete 6 FormHUD-4010,(10/2023)ref,Handbook1344.1
6 Subcontracts.Thecontractororsubcontractormustinsertinanysubcontractstheclausescontainedin29CFR5.5(a)(1)through(11),alongwiththeapplicablewagedetermination(s)andsuchotherclausesorcontractmodificationsastheU.S.DepartmentofHousingand
UrbanDevelopmentmaybyappropriateinstructionsrequire,andaclauserequiringthesubcontractorstoincludetheseclausesandwagedetermination(s)inanylowertiersubcontracts.Theprimecontractorisresponsibleforthecompliancebyanysubcontractororlowertiersubcontractorwithall
thecontractclausesinthissection.intheeventofanyviolationsoftheseclauses,theprimecontractorandanysubcontractor(s)responsiblewillbeliableforanyunpaidwagesandmonetaryrelief,including,-erestfromthedateoftheunderpaymentorloss,duetoanyworkersoflower-tiersubcontractors,
andmaybesubjecttodebarment,asappropriate.7 Contracttermination:debarment.Abreachofthecontractclausesin29CFR5.5maybegroundsfor
terminationofthecontract,andfordebarmentasacontractorandasubcontractorasprovidedin29
CFR5.12.8 CompliancewithDavis-BaconandRelatedActrequirements.Allrulingsandinterpretationsofthe
Davis-BaconandRelatedActscontainedin29CFRparts1,3,and5arehereinincorporatedbyreferenceinthiscontract.9Disputesconcerninglaborstandards.Disputesarisingoutofthelaborstandardsprovisionsofthis
contractshallnotbesubjecttothegeneraldisputesclauseofthiscontract.SuchdisputesshallberesolvedinaccordancewiththeproceduresoftheDepartmentofLaborsetforthin29CFRparts5,6,and7.Disputeswithinthemeaningofthisclauseincludedisputesbetweenthecontractor(oranyofitssubcontractors)andthecontractingagency,theU.S.DepartmentofLabor,ortheemployeesortheir
representatives.
10.Certificationofeligibility.i.Byenteringintothiscontract,thecontractorcertifiesthatneitheritnoranypersonorfirmwho
hasaninterestinthecontractor'sfirmis@personorfirmineligibletobeawardedGovernment
contractsbyvirtueof40U.S.C.3144(b)or29CFR5.12(a).‘Nopartofthiscontractshallbesubcontractedtoanypersonorfirmineligibleforawardofa
Governmentcontractbyvirtueof40U.S.C.3144(b)or29CFR5.12a).ili,ThepenaltyformakingfalsestatementsisprescribedintheU.S.Code,Title18Crimesand
CriminalProcedure,18U.S.C.1001.11.Anti-retaliationItisunlawfulforanypersontodischarge,demote,intimidate,threaten,restrain,coerce,blacklist,harass,orinanyothermannerdiscriminateagainst,ortocauseanypersonto
discharge,demote,intimidate,threaten,restrain,coerce,blacklist,harass,orinanyothermannerriminateagainst,anyworkerorjobapplicantfor:i.Notifyinganycontractorofanyconductwhichtheworkerreasonablybelievesconstitutes2
violationoftheDBA,RelatedActs,or29CFRparts1,3,or5;ii,Filinganycomplaint,initiatingorcausingtobeinitiatedanyproceeding,orotherwiseassertingor
seekingtoassertonbehalfofthemselvesorothersanyrightorprotectionundertheDBA,RelatedActs,or29CFRparts1,3,or5;lil,Cooperatinginanyinvestigationorothercomplianceaction,ortestifyinginanyproceedingunder
theDBA,RelatedActs,or29CFRparts1,3,or5;oriv.InforminganyotherpersonabouttheirrightsundertheDBA,RelatedActs,or29CFRparts1,3,
ors.
B. ContractWorkHoursandSafetyStandardsAct(CWHSSA)
TheAgencyHeadmustcauseorrequirethecontractingofficertoinsertthefollowingclausessetforthin29CFR5.5(b)(1),(2),(3),(4),and(5)infull,oF(forcontractscoveredbytheFederal
‘AcquisitionRegulation)byreference,inanycontractinanamountinexcessof$100,000andsubjecttotheovertimeprovisionsoftheContractWorkHoursandSafetyStandardsAct.Theseclausesmust

Previouseditionsobsolete 7 FormHUD-4010,(10/2023)ref.Handbook1344.1
beinsertedinadditiontotheclausesrequiredby29CFR5.5(a)or4.6.Asusedinthisparagraph,theterms“laborersandmechanics”includewatchpersonsandguards.
1.Overtimerequirements.Nocontractororsubcontractorcontractingforanypartofthecontractworkwhichmayrequireorinvolvetheemploymentoflaborersormechanicsshallrequireorpermitanysuchlaborerormechanicinanyworkweekinwhichheorsheisemployedonsuch
worktoworkinexcessoffortyhoursinsuchworkweekunlesssuchlaborerormechanicreceivescompensationataratenotlessthanoneandone-halftimesthebasicrateofpayforallhours
workedinexcessoffortyhoursinsuchworkweek.2.Violation;liabilityforunpaidwages;liquidateddamages.Intheeventofanyviolationoftheclausesetforthin29CFR5.5(b)(1)thecontractorandanysubcontractorresponsiblethereforshallbeliablefortheunpaidwagesandinterestfromthedateoftheunderpayment.inaddition,
suchcontractorandsubcontractorshallbeliabletotheUnitedStates(inthecaseofworkdoneundercontractfortheDistrictofColumbiaoraterritory,tosuchDistrictortosuchterritory},for
liquidateddamages.Suchliquidateddamagesshallbecomputedwithrespecttoeachindividuallaborerormechanic,includingwatchpersonsandguards,employedinviolationoftheclausesetforthin29CFR5.5(b)(1),inthesumof$31foreachcalendardayonwhichsuchindividualwas
requiredorpermittedtoworkinexcessofthestandardworkweekoffortyhourswithoutpaymentoftheovertimewagesrequiredbytheclausesetforthin29CFR5.5(b)(2).3.Withholdingforunpaidwagesandliquidateddamages
i,WithholdingprocessTheU.SDepartmentofHousingandUrbanDevelopmentortherecipientofFederalassistancemay,uponitsownaction,ormust,uponwrittenrequestofanauthorizedrepresentativeoftheDepartmentofLabor,withholdorcausetobewithheldfromthecontractor
somuchoftheaccruedpaymentsoradvancesasmaybeconsiderednecessarytosatisfytheliabilitiesoftheprimecontractororanysubcontractorforanyunpaidwages;monetaryrelief,includinginterest;andliquidateddamagesrequiredbytheclausessetforthin29CFR5.5(b)on
thiscontract,anyotherFederalcontractwiththesameprimecontractor,oranyotherfederallyassistedcontractsubjecttotheContractWorkHoursandSafetyStandardsActthatisheldbythesameprimecontractor(asdefinedin29CFR5.2).Thenecessaryfundsmaybewithheldfromthecontractorunderthiscontract,anyotherFederalcontractwiththesameprimecontractor,orany
otherfederallyassistedcontractthatissubjecttotheContractWorkHoursandSafetyStandardsActandisheldbythesameprimecontractor,regardlessofwhethertheothercontractwasawardedorassistedbythesemeagency,andsuchfundsmaybeusedtosatisfythecontractor
liabilityforwhichthefundswerewithheld.ii_PrioritytowithheldfundsTheDepartmenthasprioritytofundswithheldortobewithheldin
accordancewith29CFR5.5(a)(2}{i)or(b)(3)(i),orboth,overclaimstothosefundsby:A. Acontractor’ssurety(ies},includingwithoutlimitationperformancebondsuretiesand
paymentbondsureties;B.Acontractingagencyforitsreprocurementcosts;C. Atrustee(s)(eitheracourt-appointedtrusteeoraU.S.trustee,orboth)inbankruptcyof a
contractor,oracontractor'sbankruptcyestate;
D. A contractor'sassignee(s);
E. contractor'ssuccessor(s);oFF. AcclaimassertedunderthePromptPaymentAct,31.U.S.C.3901-3907.
4, Subcontracts.Thecontractororsubcontractormustinsertinanysubcontractstheclausessetforthin29.CFR5.5(b)(2)through(5)andaclauserequiringthesubcontractorstoincludetheseclausesinany
lowertiersubcontracts.Theprimecontractorisresponsibleforcompliancebyanysubcontractororlowertiersubcontractorwiththeclausessetforthin29CFR5.5(b](1)through(5).Intheeventofany
Violationsoftheseclauses,theprimecontractorandanysubcontractor{s)responsiblewillbeliableforanyunpaidwagesandmonetaryrelief,includinginterestfromthedateoftheunderpaymentorloss,
Previouseditionsobsolete 8 FormHUD-4020,(10/2023)ref.Handbook1344.1

duetoanyworkersoflower-tiersubcontractors,andassociatedliquidateddamagesandmaybesubject
todebarment,asappropriate.
5 Anti-retaliationItisunlawfulforanypersontodischarge,demote,intimidate,threaten,restrain,
coerce,blacklist,harass,orinanyothermannerdiscriminateagainst,ortocauseanypersonto
discharge,demote,intimidate,threaten,restrain,coerce,blacklist,harass,orinanyothermanner
discriminateagainst,anyworkerorjobapplicantfor:
inganycontractorofanyconductwhichtheworkerreasonablybelievesconstitutesa
violationoftheContractWorkHoursandSafetyStandardsAct(CWHSSA)oritsimplementing,
regulationsin29CFRpart5;
ii Filinganycomplaint,initiatingorcausingtobeinitiatedanyproceeding,orotherwiseasserting
orseekingtoassertonbehalfofthemselvesorothersanyrightorprotectionunderCWHSSAor
29CFRpart5;
iii,Cooperatinginanyinvestigationorothercomplianceaction,ortestifyinginanyproceeding,
underCWHSSAor29 CFRpart5;oriv.InforminganyotherpersonabouttheirrightsunderCWHSSAor29CFRpart5
C.CWHSSArequiredrecordsclauseInadditiontotheclausescontainedin29CFR5.5(b),inanycontract
subjectonlytotheContractWorkHoursandSafetyStandardsActandnottoanyoftheotherlaws
referencedby29CFR5.1,theAgencyHeadmustcauseorrequirethecontractingofficertoinserta
clauserequiringthatthecontractororsubcontractormustmaintainregularpayrollsandotherbasic
recordsduringthecourseoftheworkandmustpreservethemforaperiodof3yearsafterallthework
ontheprimecontractiscompletedforalllaborersandmechanics,includingguardsandwatchpersons,
workingonthecontract.Suchrecordsmustcontainthename;lastknownaddress,telephonenumber,
andemailaddress;andsocialsecuritynumberofeachsuchworker;eachworker'scorrect
classification(s)ofworkactuallyperformed;hourlyratesofwagespaid;dailyandweeklynumberof
hoursactuallyworked;deductionsmadeandactualwagespaid.Further,theAgencyHeadmustcause
orrequirethecontractingofficertoinsertinanysuchcontractaclauseprovidingthattherecordstobe
‘maintainedunderthisparagraphmustbemadeavailablebythecontractororsubcontractorfor
inspection,copying,ortranscriptionbyauthorizedrepresentativesofthe(writethenameofagency)
andtheDepartmentofLabor,andthecontractororsubcontractorwillpermitsuchrepresentativesto
interviewworkersduringworkinghoursonthejob.
D.IncorporationofcontractclausesandwagedeterminationsbyreferenceAlthoughagenciesare
requiredtoinsertthecontractclausessetforthinthissection,alongwithappropriatewage
determinations,infullintocoveredcontracts,andcontractorsandsubcontractorsarerequiredtoinsert
theminanylower-tiersubcontracts,theincorporationbyreferenceoftherequiredcontractclauses
andappropriatewagedeterminationswillbegiventhesameforceandeffectasiftheywereinsertedin
fulltext.E,IncorporationbyoperationoflawThecontractclausessetforthinthissection(ortheirequivalent
undertheFederalAcquisitionRegulation},alongwiththecorrectwagedeterminations,willbe
consideredtobea partofeveryprimecontractrequiredbytheapplicablestatutesreferencedby29
CFR5.1toincludesuchclauses,andwillbeeffectivebyoperationoflaw,whetherornottheyare
includedorincorporatedbyreferenceintosuchcontract,unlesstheAdministratorgrantsavariance,
tolerance,orexemptionfromtheapplicationofthisparagraph.Wheretheclausesandapplicablewage
determinationsareeffectivebyoperationoflawunderthisparagraph,theprimecontractormustbe
‘compensatedforanyresultingincreaseinwagesinaccordancewithapplicablelaw.

9 FormHUD-4010,(10/2023)
ref.Handbook1344.1Previousedi
F.HEALTHANDSAFETYTheprovisionsofthisparagraph(F)areapplicablewheretheamountoftheprimecontractexceeds
$100,000.Nolaborerormechanicshallberequiredtoworkinsurroundingsorunderworkingconditionswhichare
unsanitary,hazardous,ordangeroustohisorherhealthandsafety,asdeterminedunderconstruction
safetyandhealthstandardspromulgatedbytheSecretaryofLaborbyregulation.
ThecontractorshallcomplywithallregulationsissuedbytheSecretaryofLaborpursuantto29CFRPart
1926andfailuretocomplymayresultinimpositionofsanctionspursuanttotheContractWorkHoursand
SafetyStandardsAct,(PublicLaw91-54,83Stat96),40U.S.C.§3701etseq.
Thecontractorshallincludetheprovisionsofthisparagraphineverysubcontract,sothatsuchprovisions
willbebindingoneachsubcontractor.Thecontractorshalltakesuchactionwithrespecttoany
subcontractorastheSecretaryofHousingandUrbanDevelopmentortheSecretaryofLaborshalldirectas
‘ameansofenforcingsuchprovisions.
FormHUD-4030,(10/2023)Previouseditionsobsolete 10 ref,Handbook1344.1
EXHIBITE
DAVIS-BACON WAGE DETERMINATION
4991-1867-9702,v.4

"General Decision
Number: DC20250003 | ELATS AT SOUTH CAPITOL PROJECT:
01/10/2025(10/2028 ResidentialDecisionNo.:DC20250003
SupersededGeneral| modificationNo.:1

Decision Number:
DC20240003 PublicationDate:1/10/2025
State: District of | LOCK-INDATE:1/17/2025
Columbia LABORSTANDARD-Constructionmuststartby
7/17/2025,otherwisea newWageDecisionmustbeConstructionType: ,assigned.Residential
MONITORS:FabianFurr(Field/Admin)Office#(202)
County:District 442-7293&WorkCell#(202)329-4117of Columbia
Statewide.
RESIDENTIALCONSTRUCTIONPROJECTS (consistingof single
family
homes and apartmentsup to and including 4 stories).

Note: Contracts subject to the Davis-Bacon Act are
generally
required to pay at least the applicableminimum wage rate
required under ExecutiveOrder 14026 or ExecutiveOrder
13658.
Please note that these ExecutiveOrders apply to covered
contracts entered into by the federalgovernmentthat are
subject to the Davis-BaconAct itself, but do not apply to
contracts subject only to the Davis-BaconRelatedActs,
including those set forth at 29 CFR 5.1(a)(1).

|T£ the contract is entered |. ExecutiveOrder 14026
|
{into on or after January 30, | generally applies to the
\12022,or the contractis | contract.
'
|xenewedor extended (e.g.,an |. The contractormust payI
loptionis exercised)on or
1
lafter January 30,
1
2022:
|
|
|
1
|
|
I
|
|
I
|
|
|
JIf the contract was awarded onl.
Ilor between January 1, 2015 and|
1
January 29, 2022, and the
1{contract is not renewed or
all|
jextendedon or after January
|
130, 2022:
|
|
Listed|
I
determination, |I
i
1
1
|
|
|
|
all covered workers at
least $17.75 per hour (or
the applicablewage rate
listed on this wage
if itdetermination, is
higher) for all hours
spent performing on the
contract in 2025.
Executive Order 13658
generallyappliesto the
contract.
The contractor must pay
coveredworkersat least
$13.30 per hour (or the
applicablewage rate
on this wage
if it is higher)for all
hours spent performingon
that contract in 2025.
The applicableExecutiveOrder minimum wage rate will be
adjusted annually. If this contract is coveredby one of
the
Executive Orders and a classificationconsiderednecessary
forperformanceof work on the contract does not appear on this
wage determination,the contractormust still submit a
conformance request.
Additional information on contractor requirements and
worker
protections under the Executive Orders is available at
http://www.dol.gow/whd/govcontracts.
Modification Number Publication Date
0 01/03/2025
1 01/10/2025

* ASBE0024-00810/01/2024
Rates Fringes
ASBESTOS WORKER: HAZARDOUS
MATERIAL HANDLER......-.+-+-.-0- $ 24.46 10.19+a
Includespreparation,wetting, stripping,removal,
scrapping,
vacuuming,bagging and disposing of all insulation
materials,whether they contain asbestosor not, from
mechanicalsystems

a. PAID HOLIDAYS:New Year's Day, Martin Luther King Day,
Memorial Day, IndependenceDay, Labor Day, Veterans' Day,
ThanksgivingDay,the day after Thanksgivingand Christmas
Day provided the employeeworks the regularwork day
before
and after the paid holiday.

ELEV0010-001 01/01/2024
Rates Fringes
ELEVATOR ME «$54.77 37,885+a+b

HANIC.
a. PAID HOLIDAYS:New Year's Day, Memorial Day,
Independence
Day, Labor Day, Veterans’Day, ThanksgivingDay,
Christmas
Day and the Friday after Thanksgiving.
b. VACATIONS: Employer contributes 8% of basic hourly
rate
for 5 years or more of service;6% of basichourly rate

PLUM0005-009 08/01/2024
PLUMBER... 0-0-0 eeecereeeeeee eee $ 28.45 14.36+a
a. PAID HOLIDAYS: Labor Day, Veterans'Day, Thanksgiving
Day
and the day after Thanksgiving,ChristmasDay, New Year's
Day, Martin Luther King's Birthday, Memorial Day and the
Fourth of July.

PLUM0602-009 08/01/2024
Rates Fringes
PIPEFITTER (HVAC Pipe
Installation) .......eeeeee eee ee $ 52.27 23.79+a
a. PAID HOLIDAYS:New Year's Day, Martin Luther King's
Birthday,Memorial Day, IndependenceDay, Labor Day,
Veterans’ Day, ThanksgivingDay and the day after
Thanksgivingand Christmas Day.

* sUDC2009-004 05/27/2009
Rates
BRICKLAYER.66.0. eee ceceeee eee $ 20.71
CARPENTER, IncludingDrywall
Hanging. 17.43 **
CEMENT MASON/CONCRE’

-$ 18.72
DRYWALL FINISHER/TAPER....-.-.++- $ 15.00 **
ELECTRICIAN. ......0eeeeeee erences$ 19.93
LABORER: Common or General. +$ 12.54 **

LABORER: Mason Tender for
pointing, caulking,cleaning
of existingmasonry, brick,
stone and cement structures
(restorationwork); excludes
pointing, caulkingand
cleaning of new or
replacementmasonry, brick,
stone and cement...........s+.005$ 12.59 **
PAINTER: Brush and Roller.. «$15.32 **

POINTER,CAULKER,CLEANER,Includespointing,caulking,
cleaningof existingmasonry,
brick, stoneand cement
structures(restoration
work);excludespointing,caulking,cleaningof new or
replacementmasonry,brick,stoneorCOMENE. eee eeeerste eee $ 18.33
ROOFER. se eee eee eect teeneee eee $ 26.33
SHEET METAL WORKER.......0..-0+0- $ 18.33
Fringes
oO.
0.
00
37
-00
00
-ll
-00
15
00
00

WELDERS - Receive rate prescribed for craft performing
operationto which weldingis incidental.

** Workersin this classificationmay be entitledto a
higherminimumwage under ExecutiveOrder 14026 ($17.75)or 13658
($13.30). Pleasesee the Note at the top of the wagedeterminationfor more information.Pleasealso note that
theminimumwage requirementsof ExecutiveOrder 14026are not
currentlybeing enforcedas to any contractor subcontract
towhich the statesof Texas,Louisiana,or Mississippi,
includingtheir agencies,are a party.
Note: ExecutiveOrder (EO) 13706, EstablishingPaid Sick
Leavefor FederalContractorsapplies to all contractssubject to
the
Davis-BaconAct for which the contract is awarded (andany
solicitationwas issued) on or after January 1, 2017. If
this
contract is coveredby the EO, the contractormust provide
employees with 1 hour of paid sick leave for every 30 hours
they work, up to 56 hours of paid sick leave each year.
Employeesmust be permitted to use paid sick leave for
theirown illness, injury or other health-relatedneeds,
including
preventivecare; to assist a family member (or person who
is
like family to the employee)who is ill, injured,or has
other
health-relatedneeds, includingpreventivecare; or for
reasons
resulting from, or to assist a family member (or person who
is
like familyto the employee)who is a victimof, domestic
violence,sexualassault,or stalking. Additional
information
on contractor requirements and worker protections under the
EO
is availableathttps://www.dol.gov/agencies/whd/government-contracts.
Unlistedclassificationsneeded for work not included
within
the scopeof the classificationslistedmay be added after
award only as provided in the labor standards contract
clauses
(29CFR5.5 (a) (1) (iti)).

The body of each wage determinationlists the
classifications
and wage rates that have been found to be prevailingfor
the
type(s) of constructionand geographicarea covered by the

wagedetermination. The classifications are listed in
alphabeticalorder under rate identifiersindicatingwhetherthe
particularrate is a union rate (currentunionnegotiatedrate),a
surveyrate,a weightedunionaveragerate,a stateadoptedrate,
orasupplementalclassificationrate.
Union Rate Identifiers
A four-letteridentifierbeginning with charactersother
than
"su", ""UAVG"",2SA?, or ?SC? denotes that a union rate
was
prevailingfor that classificationin the survey.Example:
PLUMO198-00507/01/2024.PLUM is an identifierof the union

whose collectivelybargained rate prevailedin the survey
for
this classification,which in this example would be
Plumbers.0198 indicates the local union number or district council
number where applicable,i.e., PlumbersLocal 0198. The
next
number, 005 in the example, is an internalnumber used in
processingthe wage determination.The date, 07/01/2024in
the
example, is the effectivedate of the most current
negotiated
rate.

Union prevailingwage rates are updated to reflectall
changes
over time that are reported to WHD in the rates
in the collectivebargainingagreement (CBA)governing the
classification.
Union Average Rate Identifiers
The UAVG identifier indicates that no single rate prevailed
forthoseclassifications,but that 100% of the data reported
for
the classifications reflected union rates. EXAMPLE:
UAVG-OH-0010 01/01/2024. UAVG indicates that the rate is a
weighted union average rate. OH indicates the State of
Ohio.The next number, 0010 in the example, is an internal number
used in producingthe wage determination.The date,
01/01/2024in the example,indicatesthe date the wage determination
wasupdated to reflect the most current union average rate.
A UAVG rate will be updated once a year, usually in
January, to
reflect a weighted average of the current rates in the
collectivebargainingagreementson which the rate is
based.
Survey Rate Identifiers
The ""SU"" identifierindicates that either a single non-
union
rate prevailed (as defined in 29 CFR 1.2) for this
classificationin the survey or that the rate was derived
bycomputing a weighted average rate based on all the rates
reported in the survey for that classification.As a
weighted
average rate includesall rates reportedin the survey, it
may
include both union and non-union rates. Exampl
007
6/27/2024,SU indicatesthe rate is a single non-union
prevailing rate or a weighted average of survey data for
that
classification.FL indicatesthe State of Florida.2022 is
theyear of the survey on which these classificationsand rates
are
based. The next number, 007 in the example,is an internal
number used in producingthe wage determination.The date,
6/27/2024 in the example, indicatesthe survey completion
date
for the classificationsand rates under that identifier.
SUFL2022-

?SU? wage rates typicallyremain in effect until a new
surveyis conducted.However, the Wage and Hour Division (WHD)has
the
discretion to update such rates under 29 CFR 1.6(c)(1).
State Adopted Rate Identifiers
The ""SA"" identifier indicates that the classifications
and
prevailing wage rates set by a state (or local) government
were
adopted under 29 C.F.R 1.3(g)-(h). Example: SAME2023-007
01/03/2024. SA reflects that the rates are state adopted.
ME
xefers to the State of M.
the

e. 2023 is the year during which
state completed the survey on which the listed
classifications
and rates are based. The next number, 007 in the example,
is an
internal number used in produ ig the wage determination.
The date, 01/03/2024 in the example, reflects the date on
which
the classifications and rates under the ?SA? identifier
took
effect under state law in the state from which the rates

were
adopted.

WAGE DETERMINATION APPEALS PROCESS

1) Has there been an initial decision in the matter? Thi.
can
be:
a) a surveyunderlyinga wage determination
b) an existingpublishedwage determination
c) an initialWHD lettersettingfortha positionon
a wage determinationmatterd) an initialconformance(additionalclassification
and rate)determination
On surveyrelatedmatters,initialcontact,including
requests
for summariesof surveys,shouldbe directedto the WHD
Branchof Wage Surveys.Requestscan be submittedvia emailto
davisbaconinfotdol.govor by mail to:
Branch of Wage Surveys
Wage and Hour Division
U.S. Departmentof Labor
200 ConstitutionAvenue, N.W.
Washington,DC 20210
Regardingany otherwage determinationmatter such as
conformancedecisions,requestsfor initialdecisions
ould be

directed to the WHD Branch of ConstructionWage
Determinations.
Requests can be submittedvia email to BCWD-Office@dol.gov
or
by mail to:
Branch of ConstructionWage Determinations
Wage and Hour Division
U.S. Departmentof Labor
200 ConstitutionAvenue, N.W.
Washington,DC 20210
2) If an initialdecisionhas been issued,then any
interested
party (thoseaffectedby the action)thatdisagreeswith
thedecisioncan requestreviewand reconsiderationfrom the
Wage
and Hour Administrator (See 29 CFR Part 1.8 and 29 CFR Part
7).Requestsfor reviewand reconsiderationcan be submitted
viaemail to dba.reconsideration@dol.govor by mail to:
Wage and Hour Administrator
U.S. Departmentof Labor
200 Constitution Avenue, N.W.
Washington,DC 20210
The requestshouldbe accompaniedby a full statementof
the
interestedparty'spositionand any information(wage
paymentdata, projectdescription,area practicematerial,etc.)
that
the requestorconsidersrelevantto the issue.
3) If the decision of the Administrator is not favorable,
aninterestedpar
Review Board (
ty may appeal directly to the Administrative
formerly the Wage Appeals Board). Write to:
Administrative Review Board
U.S. Departmentof Labor
200 ConstitutionAvenue,N.W.
Washington,DC 20210.

END OF GENERAL DECISION"
EXHIBIT F
SECTION 3 CONTRACT ADDENDUM
F-l
4931-1687-9702,v.4
eke
ahaGOVERNMENT OF THE
GRC ASS eesins,.Pe 3 BCMURIEL BOWSER, MAYOR

Section 3 Opportunities Plan
and Certification
Purposeofthisform:
TheDepartmentofHousingandCommunityDevelopment(DHCD)requiresthisplanandcertificationfromthose
whoreceiveFederaland/orDistrictfundingforhousingprojectsover$200,000.Theplanoutlineshowjobsandother
economicopportunitiesgeneratedbythesefundswillbedirectedtolow-andverylow-incomeresidentsandbusinesses
thatprovidethemwithjobs,trainingandcontracts*
DHCD and/orthedevelopermayalsorequireaSection3OpportunitiesPlanandCertificationfromthegeneral
contractor(GC)and/orsubcontractors.
OMRON

Flatsat South Capitol FlatsatSouth CapitolLLC
Projectname Businessname
JoelPatterson 202-935-1306
Primarycontactname Phone
$23,602,679 $67,565,360Grant/Contract/Loanamount
RLS
A.Section3requirements.Theprojectdeveloperwil
Totalcost

1.Providemeaningfuljobsand/ortrainingfortheDistrict'sSection3residentswhoworkonthefundedprojectnamed
inPart.
+Section3workerswillcompleteatleast25%oftheproject'stotallaborhours,
+TargetedSection3workerswillcompleteatleast5%ofthetotallaborhours.
2.ContractwithSection3businesseswhenpossible.
3,RequireallsubcontractorstosubmitaSection3OpportunitiesPlanandCertificationtoDHCD.
4,DocumenteffortsandactivitiesusedtofulfillSection3goals.
5.IncurallcostsrequiredtocomplywithSection3andDHCDrequirements.
B.DHCDrequirements.inadditiontoFederalSection3law,youmust:
1.IdentifyaSection3pointofcontactforeachplanorsubcontract,orrequiretheGCtodoso,
2,RequiretheGCtosubmitaSection3OpportunitiesPlanandCertification.
3,DocumentSection3workersbyhavingeachonecompleteaDHCDSection3ResidentWorksheet.
*Fordetails:Section3oftheHousingandUrbanDevelopmentActof1968(12USC.1701u){24CFRpart75)

ThiseplacespreviousversionsofthisformitisnottebechangedwithoutDHCDpermission1 Revsondate:March2023,
4,Maintainrecords(correspondence,memosetc.)todocumentyourprocessandactivities.Theymustshowhowyou
encouragedresidentsandbusinessestotakeadvantageofyourproject'sSection3jobtraining,employmentand
contractingopportunities.
5.SubmitquarterlyreportstoDHCDwithalistofallsubcontractsandpositionsfilledduringthereportingperiod.
6.AllowDHCDtomonitoryourprojectorprogramforcompliance,andacceptpenaltiesfornoncompliance,ifnecessary.
Pence
Usethespacebelowtodescribehowyou'llachieveyourSection3goals,BesuretoidentifyanyofthePart2requirements
thatyouwon'tmeetandexplainwiny.ProvidespecificsonhowandwhenyoullhireSection3residentsand/orcontract
withSection3businesses.fyou'lhavemultiplesubcontractors,identifywho/whattheywillbe.
TheSection3BestPracticesattheendofthisdocumentandtheappendixtotheCodeofFederalRegulations(24CFR75)
provideinformationthatmayhelpwithyourplan.

FlatsatSouthCapitolLLCintendstocompletetheSection3requirementscommittingthisprojecttohireandtrainpublichousingandlowincomeresidentsaswellasprovidecontractingopportunitiestotheSection3BusinessConcernsinthefollowingways:
1) Plan forHiring Section3 Residents
OurrepresentativewillattendlocalcommunitymeetingsintheareaincludingANC 8CO1communitymeetings
toadvertisetothecommunityaboutemploymentopportunitiesavailableforSection3residentsonourproject.
‘WewillalsorequirethatourGeneralContractorhostajobfairinthecommunitytopublicizetoSection3
residentsaswellasSection3businesses,theopportunitiesavailableduringconstruction.Additionally,weplanto
advertiseinthefreesectionsofMetroExpress,CityPaper,£lTiempoLatinoaswellastheWashingtonPost.
Lastly,weplantopostemploymentopportunitiesontheDepartmentofEmploymentServices(DOES)Job
boardandattheAmericanJobCenters(formerlyOneStopCareerCenters)locatedat3720MartinLutherKing
Jt.Ave,SE,5171SouthDakotaAvenue,NE,2ndFloor,and4058MinnesotaAve,NE.
2)PlanforContractingwithSection3BusinessConcernswillincludesolicitingbidsfromDHCDandDCHA
certifiedSection3BusinessConcernsaswellasadvertisingintheabovementionedannouncingcontracting
opportunities.WewillalsopostbidopportunitiesontheDHCDBidBoardtomaximizeparticipationofSection
3BusinessConcernsduringconstruction,OureffortswillbereinforcedsuchthattheSection3Clausewillbe
insertedintoallsubcontractsthattheyenterintoduringthecourseoftheproject.Wewillalsoencourageall
Non-Section3subcontractorsthatwinbidstobecomeSection3certifiedbusinessconcernsifpossible,WecurrentlyanticipatebreakinggroundinApril2025andanticipatea20-monthconstructiontimeframe.

“ThisreplacespreviousversionsofthisformitisnottobechangedwihovtDHCDpermission,2 Revisiondate:March2023,
Rue a EN
|certifythat|haveread,understandandwillcomplywithmyobligationsunderSection3(in24CFR78)andinaccordance
withDHCD’sSection3requirements.|understandthatDHCD:
+Canconsidermenon-compliantif|don’tmakebonafideattemptstocomplywiththeplanoutlinedinPart3.
+Mayrelyonthiscertificationwhenitreviewsandapprovesmyfundingproposals.
+Couldpenalizemeif|misrepresentinformationorfailtocomplywithconditionsofthiscertification.PenaltiescanincludetemporaryorpermanentexclusionfromallDHCDadministeredprograms,

O° o
tint [ashe 02/16/25
Recipient/Developersignature Date (mm/dd/yy)
JR Russell _2eSeteiewmemo 02/14/25
General contractor/Subcontractorsignature Date (mm/dd/yy)
Usethisemailopm.questions@de.govtosendyoursignedanddatedplantoHCD's:
Section3CoordinatorOfficeofProgramMonitoring,FairHousingDivision

beliefsdontaffecthowwetreatyou.Thisisalsotrueforvictimsofthreatsoreimesbysomecneyouterelatedtobyblood,adoption,‘custody0°marrige,orsomeoneyoulvewihorshareachildwith.Wedon'talowharessmentoriscriminationofanykindbasedon
Doeatsveerthesame,Wedrtlokaace,sncelgonorwheeyouwrebornWedatetouday baseda t tonyeurfamilytatssersexolorgenderentlyorexpression.Whereyouve,whatyouGofrwo youreducationoryourpial
is © thesediferences,Wewilldisciplineviolators.

“ThisreplacespreviousversionsofthisformisnottotechangedwithoutOHCDpermission.3 Revisiondate:March2023,
eke Cl ascitessesimicrorcouumeiaa BCMURIELBOWSER,MAYOR

Section 3 Best Practices
Thisinformationisforyouonly,DonotreturnittoDHCD,ItincludesstepsyoucantaketomakeSection3workersand
businessesawareofopportunites.Ialsohastipsforcompletingyouractionplan.Besureyourplanoutlinesthestepsyou
willtaketouseSection3residentsorbusinesses.Ifyouaren'tusingther,explainwhy.

TacticsforreachingSection3 workers and businesses
WerecommendthatyouappointacompanyoragencyexecutiveasEqualOpportunityOfficer.TheyimplementandcoordinateallSection3 activitiestomaximizeopportunitiesand ensurecompliancewithFederaland localSection3 requirements,

HiringtacticsforSection3workers
1.Advertisejobsandtrainingprogramsinmediathetreachthegeneralpublic,Section3audiences,minorities,
and/or women.
2.TergetYouthBuildprogramsthatprovidedisadvantagedyouthwithopportunitiesforemployment,education,leadership
developmentandtraining,
3,Postsignsatprojectsitesandsendjobsandtrainingnoticestoresidentsintheneighborhoodorservicearea.Listspecific
opportunitiesthey'relikelytosucceedat,
4,Requiretheminimumjobqualificationsforyourjobdescriptions.
5,Askresidentcouncilsandcornmunityorganizationstohelpyouidentityandnotifyresidentswhoresideinyourprojector
itsservicearea.
ContractingtacticsforSection3certifiedbusinesses
1.Coordinatepre-bidmeetingswithlocalsubcontractorsintheprojectarea.
2.Advertisecontractingopportunitiesincommunitypublicationsandwithcommunityorganizations.
3,RequiresubcontractorsyouworkwithregularlytobecomeSection3certified.
4,Createjointventureagreementsorsecurecontractswithnegotiationsinsteadofbids.
5,IncludeyourSection3planinyourbiddocumentsorcontractsolicitations.
6.Helpeligiblebusinessesmeetinsurance,bondingandothercontractingrequirements.
7.WorkwiththeChamberofCommerceSmallBusinessServiceCentertohelpSection3businesseswiththeirprofilesand
otheradministrativeactivities,
TipsforyouractionplanIncludethe who,what,when,where and how ofyourplantosolicitand hireSe 3 residentsand businesses.Answer key
questionsand tellhow you'llfollowthehiringand contractingpreferencesrequiredby DHCD.

A. Hiring
Preferencesand priorities
EmploymentandTrainingPreferences
|, |WorkerswithincomebelowHUD'SestablishedannualincomelimitforthepreviousorannualizedPrionttyt calendaryear
Priority2: |WorkersemployedbyaSection3business
Priority3: |WorkersparticipatinginYouthBuild
Priority4: |OtherSection3residents
*HomelesspeoplelivingintheSection3projectneighborhoodorserviceareahavetoppriorityforprojectsassistedbytheStewartB,McKinneyHomelessAssistanceAct,

‘Thisreplacespreviousversionsofthisform.tisnottobechangedwithoutDHCDpermission.4 Revisiondate:March2023
Keyquestions
1.Whendoyouanticipatehiring?
2.WhereandwhenwillyouadvertisetheSection3jobs~outsideoftheDistrict'sDepartmentofEmploymentServices
(DOES)?Listthepublicationsanddates.
3.Ifyouholdajobfair,whenandwherewillitbe?Howwillyoumarketit?
4,Whatcommunityorganizationswillyoucontactforhelpfindingapplicants?Listtheirnames.
B.ContractingPreferencesandpriorities
ContractingPreferences
Priority1:| 51%ormoreownedandcontrolledbylow-orverylow-incomepeople
jor3monthsareperformedbySection3workers

Priority2:| 75%ormoreofthebusiness’laborhoursinthe
Priority3:_|5196ormoreownedandcontrolledbyresidentslivinginpublicorSectionB-asistedhousing
Keyquestions
1.WhenwilltheGCputtheworkouttobid?
2.WhatmarketingoroutreachwillyouortheGCusetotargetbusinessesthatareormightqualifyasSection3certified?
Describewhattheyareandwhentheywilloccur.
3,Describehowyou'llbreakuptheSection3contracting-howmuchgoestohousingandbuildingtradesworkandhow
muchtoothertypesofcontracts?
4,WhatwillyouorthedeveloperdotoensurethattheGCyouhireiscomplyingwithSection3?

‘Thiseplacespreviousversionsofthisform.tisnattobechangedwithoutDHCDpermission5 Revisiondate:March2023
EXHIBIT G
DEVELOPMENT TEAM DEBARMENT AFFIDAVIT
Gl
-4931-1667-9702,v.4
AEEIDAVIT

Owner:FlatsatSouthCapitolLLC_
Consultant(s):__
ManagementAgent:_FariaMi

Attorney:_Reno&Cavanaugh,
Engineer(s):WilesMensch

Other(s):McCulloughConstruction
1furtherattestthatnoprincipal,majorstockholder,officer,ordirectoroftheteamis
debarredfromparticipatinginafederalprocurementgrnon-procurementprogram.
AuthorizedAgent,Title
2/10/2025,
Date

Notary:
Therebycertifyonthis_7© dayofKeble ioe initiopersonallyappearedandsignedthis
documentandacknowledgedthathe/shewastheAuthofizedSignatoryofFlatsatSouthCapitolL1LC.
DistrictofColumbia .
to(oraffirmed)beforemeee aclot Usa)rangSarat
le,Disteect ofco
tae SAF
Mycommissionexpires:Mag. 14,2087

Jombee wy

EXHIBIT H
INSURANCE REQUIREMENTS
Hel
-4931-1667-9702,v.4
DHCD ~ Kaisa Smith — HPTF Loan forconstructionofFlatsatSouthCapitol(theProject)—
G021325
INSURANCE
A,GENERALREQUIREMENTS.TheDeveloperatitssoleexpenseshallprocureandmaintain,duringtheentireperiodofperformanceunderthiscontract,thetypesofinsurancespecifiedbelow.TheDevelopershallsubmitaCertificateofInsurancetotheContractingOfficer(CO)givingevidenceoftherequiredcoveragepriortocommencingperformanceunderthiscontract.InnoeventshallanyworkbeperformeduntiltherequiredCertificatesofInsurancesignedbyanauthorizedrepresentativeoftheinsurer(s)havebeenprovidedto,andacceptedby,theCO.
If the Developerand/oritssubcontractorsmaintainbroadercoverageand/orhigherlimits
thantheminimums shown below,theDistrictrequiresand shallbe entitledtothebroader
coverageand/orthehigherlimitsmaintainedby theDeveloperand subcontractors.
B. INSURANCE REQUIREMENTS,
1,CommercialGeneralLiabilityInsurance(“CGL”)-TheDevelopershallprovideevidencesatisfactorytotheCOwithrespecttotheservicesperformedthatitcarriesaCGLpolicy,writtenonanoccurrence(notclaims-made)basis,onInsuranceServicesOffice,Inc.(“ISO”)formCG 00010413(oranotheroccurrence-basedformwithcoverageatleastasbroadandapprovedbytheCO inwriting),coveringliabilityforallongoingandcompletedoperationsoftheDeveloperandunderallsubcontracts,covering
claimsforbodilyinjury,includingwithoutlimitationsickness,diseaseordeathandmentalanguishofanypersons,broadformpropertydamage,includinglossofuseresultingtherefrom,personalandadvertisinginjury,andincludingcoverageforliabilityarisingoutofanInsuredContract(includingthetortliabilityofanotherassumedinacontract)andactsofterrorism(whethercausedbyaforeignordomesticsource).Suchcoverageshallhavelimitsofliabilityofnotlessthan$1,000,000foreachoccurrence,$2,000,000generalaggregate,$2,000,000productsandcompletedoperationsaggregate,and$1,000,000personalandadvertisinginjuryaggregatelimit.

The Commercial GeneralLiabilityshallbe furtherendors
a)Tothefullestextentpermittedbylaw,provideadditionalinsuredcoverageusingISOformCG 20100413andCG20370413(oritsequivalent)toTheGovernmentoftheDistrictofColumbiab)Coverageavailabletotheadditionalinsuredsshallapplyonaprimaryandnon-contributingbasisasrespectsanyotherinsurance,deductibles,orself-insuranceavailabletotheadditionalinsuredsc)A waiverofsubrogationinfavorofTheGovernmentoftheDistrictof
Columbiad)AnyAnnualAggregateshallapplyonaperlocationorperprojectbasis,e)Defensecostsshallbeinadditiontoandnoterodethelimitsofliability

2. AutomobileLiabilityInsurance-TheDevelopershallprovideevidencesatisfactoryto
theCO ofcommercial(business)automobileliabilityinsurancewrittenonISOformCA00011013(oranotherformwithcoverageatleastasbroadandapprovedbytheCO in
writing)includingcoverageforallowned,hired,borrowedandnon-ownedvehiclesand
V35- 11-2024
DHCD —Kaisa Smith— HPTF Loan forconstructionofFlats atSouthCapitol(theProject)—
G021325
equipmentusedbytheDeveloperinconnectionwithworkunderthisagreement,witha
minimumcombinedsinglelimitof$1,000,000.Suchpolicyorpoliciesofautomobile
liabilityinsuranceshallbewrittenonan"occurrence"(asopposedtoa"claimsmade")
basis.

AutoLiabi icyshallbefurtherendorseda)Tothefullestextentpermittedbylaw,provideadditionalinsuredcoveragetoTheGovernmentoftheDistrictofColumbiab)Coverageavailabletotheadditionalinsuredsshallapplyonaprimaryandnon-contributingbasisasrespectsanyotherinsurance,deductibles,ofselfinsuranceavailabletotheadditionalinsureds©)A waiverofsubrogationinfavorofTheGovernmentoftheDistrictofColumbiad)Defensecostsshallbeinadditiontoandnoterodethelimitsofliabilitye)IFapplicable,includeFormCA99480306PollutionLiability-BroadenedCoverageforCoveredAutos-BusinessAuto,MotorCarrier,andTruckers(oritsequivalent)
f)MovingandStorageCompaniesshallberequiredtoprovideevidenceofBMC91 or BMC91X filing

For Developers providingtransportation:
Developersprovidingtransportationmustadditionallycomplywiththefollowing:a)OperatorsholdingarestrictedWMATC CertificateofAuthoritymusthaveasinglelimitof$1.5millionincombined(bodilyinjuryandphysicaldamage)
coverage,orb)OperatorsholdinganunrestrictedWMATC CertificateofAuthoritymusthaveasinglelimitof$5Mincombined(bodilyinjuryandphysicaldamage)coverage.Inaddition,bothtypesofWMATC certificateholdersmusthaveinplacethefollowing
LicensingRequirementsasapplicable:a)CommercialDriver’sLicense(CDL)withthefollowingendorsements:i)PPassenger):AlldriversMUSThaveaPendorsementenablingthemtotransportpassengers(16ormore).ii)$(SchoolBus):Alldriversoperatingschoolbuses(flashinglights,swing‘armwistopsign)mustalsohavean$endorsement.Pleasenotethatdrivercredentialsforanyvehiclesthatareconvertedschoo!busesmusthaveS.b)_Valid(unexpired)USDepartmentofTransportationMedicalExaminerCertification(“MedicalCard”).

ForDevelopersusingDistrictGovernment-OwnedVehicles:AgenciesthatprovideDeveloperswithDistrictGovernment-ownedotleasedmotorvehiclesareresponsibleforensuringthatsuchvehiclesareusedonlyfortheperformanceunderthisContract.Developeranditssubcontractorsareprohibitedfromusingsuchvehiclesforhome-to-worktransportationunlessspecificallyprovidedforundertheterms
ofthecontractandapprovedinwritingbytheContractingOfficer,orotherwiseprovided
bylaw.Developershallobtainautomobileliabilityinsurancewithaminimumcombined
singlelimitof$1,000,000tocoverbodilyinjuryandpropertydamagetoprotectthe
V35- 11-2024
DHCD -Kaisa Smith— HPTF Loan forconstructionof FlatsatSouthCapitol(theProject)—
G021325
DeveloperandtheGovernmentoftheDistrictofColumbiaagainstthird-partyclaimsarisingfromtheuseofDistrictGovernment-ownedvehicles.TheCommercialAutoLiabilityPolicyshallbeendorsedtoinclude:a) Tothefullestextentpermittedbylaw,provideadditionalinsuredcoverageto
‘TheGovernmentoftheDistrictofColumbia;b)Coverageavailabletotheadditionalinsuredsshallapplyona primaryandnon-contributingbasisasrespectsanyotherinsurance,deductibles,orselfinsuranceavailabletotheadditionalinsureds;and©)A waiverofsubrogationinfavorofTheGovernmentoftheDistrictofColumbia.Intheeventofloss,destruction,ordamagetoanygovernment-ownedvehiclesusedintheperformanceofcontact,Developershallbeliableforfullcostofrepairorreplacementoflost,destroyed,ordamagedvehicle.
3. Workers’CompensationInsurance-TheDevelopershallprovideevidencesatisfactorytotheCOofWorkers’CompensationinsuranceinaccordancewiththestatutorymandatesoftheDistrictofColumbiaorthejurisdictioninwhichthecontractisperformed.
Employer’sLiabilityInsurance-The Developershallprovideevidencesatisfactorytothe
COof employer'sliabilityinsuranceas follows:$500,000peraccidentforinjury;
$500,000peremployee fordisease;and $500,000forpolicydiseaselimit.
‘TheWorkersCompensationandEmployersLiabilityshallbefurtherendorsedto:a)IncludeaWaiverofSubrogationinfavorofTheGovernmentoftheDistrictofColumbia.b)Whereapplicable,includeUnitedStatesLongshoreandHarborWorkers
CompensationAct(USL&H)©)Whereapplicable,includeJonesActCoverageforseamenorcrewmembersonan“ifany”basis.

4,NetworkSecurity/Privacy(Cyber)LiabilityInsurancecoveringacts,errors,omissions,andviolationofanyconsumerprotectionlawsarisingoutofDeveloper’soperationsorserviceswithalimitof$2,000,000perclaimandintheaggregate.Suchcoverageshallincludebutnotbelimitedto,thirdpartyandfirstpartycoverageforlossordisclosureofanydata,includingpersonallyidentifiableinformationandpaymentcardinformation,networksecurityfailure,violationofanyconsumerprotectionlaws,unauthorizedaccessand/oruseorotherintrusions,infringementofanyintellectualpropertyrights(exceptpatent),negligenceorbreachofdutytousereasonablecare,breachofanydutyofconfidentiality,invasionofprivacy,orviolationsofanyotherlegalprotectionsforpersonalinformation,defamation,libel,slander,commercialdisparagement,negligenttransmissionofcomputervirus,ofuseofcomputernetworksinconnectionwithdenialofserviceattacks.Suchcoverageshallincluderegulatorydefenseandfines/penaltiesinanyjurisdictionanywhereintheworld.SuchcoverageshallincludecontractualprivacycoveragefordatabreachresponseandcrisismanagementcoststhatwouldbeincurredbyDeveloperonbehalfofTheGovernmentoftheDistrictofColumbiaintheeventofadatabreachincludinglegalandforensicexpenses,notificationcosts,creditmonitoringcosts,andcoststooperateacallcenter.Developershallmaintaincoverageinforceduringthe
35 -11-2024
DHCD ~Kaisa Smith — HPTF Loan forconstructionof FlatsatSouthCapitol(theProject)—
G021325
5.
termofthisAgreementandforanextendedreportingperiodofnotlessthantwo(2)
yearsafter.
ProfessionalLiabilityInsurance(Errors& Omissions)-TheDevelopershallprovide
ProfessionalLiabilityInsurance(ErrorsandOmissions)tocoverliabilityresultingfrom
anyerrororomissionintheperformanceofprofessionalservicesunderthisContract.
Thepolicyshallprovidelimitsof$1,000,000perclaimorperoccurrenceforeachwrongfillactand$2,000,000annualaggregate.TheDeveloperwarrantsthatanyapplicableretroactivedateprecedesthedatetheDeveloperfirstperformedanyprofessionalservicesfortheGovernmentoftheDistrictofColumbiaandthatcontinuouscoveragewillbemaintainedoranextendedreportingperiodwillbeexercisedforaperiodofatleasttenyearsafterthecompletionoftheprofessionalservices.Limitsmaynotbesharedwithotherlinesofcoverage.

CommercialUmbrellaorExcessLiability-TheDevelopershallprovideevidencesatisfactorytotheCO ofcommercialumbrellawithminimumlimitsof$10,000,000peroccurrenceand$10,000,000intheannualaggregate,Coveragemustexcessofrequiredcommercialgeneral
liability,commercialautoliability,andemployers’liability.‘Theinsurancerequiredunderthisparagraphshallbewritteninaformthatannuallyreinstatesallrequiredlimits.Coverageshallbeprimarytoanyinsurance,self-insuranceorreinsurancemaintainedbyTheGovernmentoftheDistrictofColumbiaandthe“otherinsurance”provisionmustbeamendedinaccordancewithrequirementandprinciplesofverticalexhaustion.

CrimeInsurance(3rdPartyIndemnity)-TheDevelopershallprovideaCrimepolicyincluding3 partyfidelitytocoverthedishonestactsofContractors,itsemployeesand/orvolunteerswhichresultina losstotheDistrict.TheGovernmentoftheDistrictofColumbiashallbeincludedaslosspayee.Thepolicyshallprovidealimitof$100,000per
occurrence.
EnvironmentalLiability/ContractorsPollutionLiabilityInsurance-TheDevelopershall
provideevidencesatisfactorytotheCO ofenvironmentalliabilityinsurancecovering
lossescausedbypollutionorotherhazardousconditionsarisingfromongoingor
completedoperationsoftheDeveloper.Suchinsuranceshallapplytobodilyinjury,propertydamage(includinglossofuseofdamagedpropertyotofpropertythathasbeenphysicallyinjured),clean-upcosts,transitandnon-owneddisposalsites.Coverageshall
extendtodefensecostsandexpensesincurredintheinvestigation,civilfines,penaltiesand
damagesorsettlements.Thereshallbeneitheranexclusionnorasublimitformoldor
fungus-relatedclaims,legionella,asbestos,leadpaint,orsilica.Theminimumlimits
requitedunderthisparagraphshallbe$2,000,000peroccurrenceand$2,000,000inthe
annualaggregate.Ifsuchcoverageiswrittenonaclaims-madebasis,theDeveloper
warrantsthatanyretroactivedateapplicabletocoveragesunderthepolicyprecedesthe
Developer'sperformanceofanyworkundertheContractandthatcontinuouscompleted
operationscoveragewillbemaintainedforatleastten(10)yearsoranextendedreportingperiodshallbepurchasedfornolessthanten(10)yearsaftercompletion.
‘TheDeveloperalsomustfurnishtotheCOOwnercertificatesofinsuranceevidencingenvironmentalliabilityinsurancemaintainedbythirdpartytransportationanddisposalsite
V35-11-2024
DHCD ~Kaisa Smith —HPTF Loan forconstructionofFlatsatSouthCapitol(theProject)—
G021325
operators(s)usedbytheDeveloperforlossesarisingfromfacility(ies)accepting,storing
ofdisposinghazardousmaterialsorotherwasteasaresultoftheDeveloper’soperations.
Suchcoveragesmustbemaintainedwithlimitsofatleasttheamountssetforthabove.
TheEnvironmentalLiabilitypolicyshallbefurtherendorsedtoincludeTheGovernmentof theDistrictofColumbiaasanAdditionalInsured.
9.Installation-FloaterInsurance-Forprojectsnotinvolvingstructuralalterations,the
DevelopershallprovideaninstallationfloaterpolicywithalimitequaltotheProperty
valuesbeinginstalledaspartoftheproject.Thepolicyshallcoverpropertywhilelocated
attheprojectsite,attemporarylocations,orintransit;deductibleswillbethesoleresponsibilityoftheDeveloper.

ConstructionProjectsforDeveloperProvidedBuilder’sRiskBuildersRisk~TheDevelopershallpurchaseandmaintainbuildersriskinsuranceat
100%replacementcostupontheentireWorkatthesiteandportionsoftheWorkstored
offthesitewiththeDeveloper’sapproval,andcontingenttransitcoverageforportionsof
theWorkintransit.ThisinsuranceshallincludetheinterestsoftheDistrict,the
DeveloperandtheSubcontractorsintheWorkandshallinsureagainstallriskofphysical
damagesubjecttostandardexclusions.LossesnotcoveredbytheDeveloper'sinsurance
shallbebornepursuanttotheprovisionsoftheContract.Thebuildersriskpolicywill
haveadeductibleofnotmorethan$25,000.LosseswithinthedeductiblewillbepaidbytheDeveloperortheresponsibleSubcontractor.Ifnotcoveredunderthebuilder'srisk
insuranceorotherwiseprovidedintheContractDocuments,theDevelopershalleffect
andmaintainsimilarpropertyinsuranceonportionsoftheWorkstoredoffthesiteorin
transit

C,SUBCONTRACTORINSURANCEREQUIREMENTSAnyandallsubcontractorsengagedbyDeveloperforworkunderthisagreementshallberequiredtohavethesameinsuredrequiredofContractor.ShouldtheDeveloperwishto
proposedifferentinsurancerequirementsforthesubcontractorthantheonesoutlinedin
theContract,then,priortocommencementofworkbythesubcontractor,theDeveloper
shallsubmitinwritingthenameandbriefdescriptionofworktobeperformedbythe
subcontractortotheCO.TheCOwillpromptlyprovideinwritingtotheContractorwithadecisionregardingtheinsurancerequirementsapplicabletothesubcontractor.WhenrequestedbytheCO,theDevelopermustprovideproofofthesubcontractor’srequiredinsurancepriortocommencementofworkbythesubcontractor.
D.PRIMARYANDNONCONTRIBUTORYINSURANCE
‘Theinsurancerequiredhereinshallbeprimarytoandwillnotseekcontributionfromany
otherinsurance,reinsuranceorself-insuranceincludinganydeductibleorretention,maintainedbytheGovernmentoftheDistrictofColumbia.
E, DURATION. The Developershallcarryallrequiredinsuranceuntilallcontractwork is
acceptedby The Government oftheDistrictofColumbia and shallcarrylistedcoverages
V35 - 11-2024
DHCD - KaisaSmith- HPTF Loan forconstructionof Flats atSouthCapitol(theProject)—
G021325
fortenyearsforconstructionprojectsfollowingfinalacceptanceoftheworkperformedunder thiscontractand two yearsfornon-constructionrelatedcontracts.
F.LIABILITY.ThesearetherequiredminimuminsurancerequirementsestablishedbyTheGovernmentoftheDistrictofColumbia.However,itisunderstoodthatTheGovernmentoftheDistrictofColumbiadoesnotinanywayrepresentthattheinsuranceorthelimitsofinsurancespecifiedhereinaresufficientoradequatetoprotectyourinterestsorliabilitiesandwillnotinanywaylimittheDevelopersliabilityunderthis
contract.
G.DEVELOPER'SPROPERTY.Developerandsubcontractorsaresolelyresponsibleforanylossordamagetotheirpersonalproperty,includingbutnotlimitedtotoolsandequipment,scaffolding,andtemporarystructures,rentedmachinery,orownedandleasedequipment.A waiverofsubrogationshallapplyinfavorofTheGovernmentoftheDistrictofColumbia.
H.MEASUREOFPAYMENT.TheGovernmentoftheDistrictofColumbiashallnotmakeanyseparatemeasureorpaymentforthecostofinsuranceandbonds.TheDevelopershallincludeallthecostsofinsuranceandbondsinthecontractprice
I. NOTIFICATION. The Developer shallensure thatallpoliciesprovidethatthe CO shall
begiventhirty(30)dayspriorwrittennoticeintheeventofcancellation,non-renewal,ormaterialchangestotheextentsuchcancellationormaterialchangesresultsinDevelopernolongcomplyingwiththeaboverequirements.TheDevelopershallprovidetheCOwithten(10)days’priorwrittennoticeintheeventofnon-paymentofpremium.TheDeveloperwillalsoprovidetheCOwithanupdatedCertificateofInsuranceshoulditsinsurancecoveragesrenewduringthecontract.TheGovernmentoftheDistrictofColumbiamayreasonablychangetheaboveinsurancecoveragerequirementsduringtheTermbygivingDeveloperatleast30days’noticeofthechange,Developermustcomply,atyourexpense,anddelivertotheCOevidenceofcompliancebeforethechange
becomeseffective,
J.CERTIFICATESOFINSURANCE.TheDevelopermustsendtoCO,atleast10daysafterexecutionofthisAgreement,certificatesofinsuranceevidencingtherequiredinsurancecoverageandendorsementsrequiredherein.Developermustalsoprovideuswithevidenceofrenewalbeforetheexpirationdateofeachinsurancepolicy.Developerisresponsibleforprovidinguswith30daysadvancedwrittennoticeifthecertificateofinsurancebytheinsurerhasbeencanceled,reducedincoverage,orotherwisealtered.Certificatesofinsurancemustreferencethecorrespondingcontractnumber.Evidenceofinsuranceshallbesubmittedto:
The Government of the Districtof Columbia
And mailed to the attentionof:
(NameofContractingOfficer/Agency)(Address)(PhoneNumber)
35 - 11-2024
DHCD ~Kaisa Smith — HPTF Loan forconstructionof FlatsatSouthCapitol(theProject)—
G021325
(E-mailAddress)
‘TheCOmayrequest,andtheDevelopershallpromptlydeliverupdatedcertificatesofinsurance,endorsementsindicatingtherequiredcoverages,and/orcertifiedcopiesoftheinsurancepolicies.IftheinsuranceinitiallyobtainedbytheDeveloperexpirespriortocompletionofthecontract,renewalcertificatesofinsuranceandadditionalinsuredandotherendorsementsshallbefurnishedtotheCOpriortothedateofexpirationofallsuchinitialinsurance.Forallcoveragerequiredtobemaintainedaftercompletion,anadditionalcertificateofinsuranceevidencingsuchcoverageshallbesubmittedtotheCOonanannualbasisasthecoverageisrenewed(orreplaced).
K.DISCLOSUREOFINFORMATION.TheDeveloperagreesthatTheGovernmentoftheDistrictofColumbiamaydisclosethenameandcontactinformationofitsinsurerstoanythirdpartywhichpresentsaclaimagainstTheGovernmentoftheDistrictofColumbiaforanydamagesorclaimsresultingfromorarisingoutofworkperformedbytheDeveloper,itsagents,employees,servantsorsubcontractorsintheperformanceofthis
contract.
L.CARRIERRATINGS.AllDeveloper’sanditssubcontractors’insurancerequiredinconnectionwiththiscontractshallbewrittenbyinsurancecompanieswithanA.M.BestInsuranceGuideratingofatleastA-VIIorbetter(ortheequivalentbyanyotherratingagency)andlicensedintheDistrictofColumbia.
M.WARRANTIES.Whenapplicable,theDevelopershouldbenamedasanadditionalinsuredontheapplicablemanufacturer’s/distributer’sCommercialGeneralLiabilitypolicyusingInsuranceServicesOffice,Inc.(“ISO”)formCG20150413(oranother‘occurrence-basedformwithcoverageatleastasbroad).COshouldcollect,reviewforaccuracy,andmaintainallwarrantiesforgoodsandservices.
V35 - 11-2024
EXHIBITCERTIFICATION OF BORROWER'S REPRESENTATIONS AND WARRANTIES
Ll
-49931-1667-9702,v.4
CERTIFICATIONOF BORROWER'S REPRESENTATIONSAND WARRANTIES
CertificationofBorrower'sRepresentationsandWarranties
BorrowerherebycertifiestoLenderthat:
(@) Theamountsrequestedweremade,incurredorfinancedandwerenecessaryfortheProjectandweremadeorincurredinaccordancewiththeConstructionDrawScheduleheretoforeineffectorpursuanttoaChangeOrderthathasbeenapprovedinaccordancewiththeLoanAgreement.
(b) TheamountsrequestedarenotgreaterthanthosenecessarytomeetobligationsdueandpayableortoreimbursetheBorrowerforitsfundsactuallyadvancedforcostsoftheProject,ifapplicable.
(©) NoamountforwhichdisbursementissoughtformedthebasisforanypriordisbursementandnodisbursementissoughtforanyitemsrepresentingpaymentonaccountofanypercentageentitledtoberetainedatthedateofthisPaymentRequest.
(@) TheamountsremainingtobedisbursedpriortotheFinalDisbursementfromtheLoan,theSeniorLoan,SubordinateLoan,taxcreditequity,andallothersourcesshowninintheProjectBudget,willbbesufficienttopaythecostsofcompletingtheProjectasandwhendueandpayable.
(©)_ BorroweracknowledgesthatexceptasexpresslysetforthintheLoanAgreement,noparty
shallhaveanydutyorobligationtoverifythevalidity,sufficiencyorgenuinenessofanydocumentsubmittedorconfirmorestablishtheauthorityor identityofthepersonsendingthisrequest,andmayrelyuponthevalidityofanydocumentandtheauthorityandidentityofanysuchpersonifLendercomplieswiththeapplicableloanagreement.LendershallnotberesponsibleforerrorsoromissionsmadebytheBorrowerortheduplicationofanycommunicationbytheBorrowerandmayactonanycommunicationbyreferencetoanaccountnumberonly,evenifanaccountnameisprovided.Borrowershallbenotifiedifa‘communicationisnotacteduponforanyreason.

(8 ThereisnocurrentorexistingEventofDefaultpursuanttothetermsofanyoftheLoanDocuments,andtoBorrower'sknowledgenoeventexistswhichbynoticeorpassageoftimeorbothwouldconstituteanEventofDefaultunderanyoftheforegoingdocuments.
(g)__NorepresentationorwarrantyoftheBorrowercontainedinanyoftheLoanDocumentsisincorrectorinaccurateinanymaterialrespect.
(h) ExceptforPermittedEncumbrances(asdefinedintheDeedofTrust)andthoseotherwisepermittedorprovidedforbytheLoanDocuments,therehasbeennonoticereceived(i)ofanylien,righttolienorattachmentupon,orclaimaffectingtherightofthepayeetoreceivepaymentof,anyofthemoneyspayableundersuchPaymentRequesttoanyofthepersons,firmsorcorporationsnamedtherein,and(ii)thatanymaterials,suppliesorequipmentcoveredbysuchPaymentRequestaresubjecttoanylienorityinterest,orifanynoticeofanysuchlien,attachment,claimorsecurityinteresthasbeenreceived,suchlien,attachment,claimorsecurityinteresthasbeenreleased,discharged,insuredorbondedoverorwillbereleased,discharged,insuredorbondedoveruponpaymentofthisPaymentRequest.

(All conditionsprecedentfordisbursementssetforthinSection4.5andforFinalDisbursementinSection4,7aresatisfied,includingwithoutlimitationdeliverytoLenderofanywaiversandlienreleasesrequiredbySection4.5.6oftheLoanAgreement.
(This statementandallexhibitshereto,shallbeconclusiveevidenceofthefactsandstatementssetforthhereinandshallconstitutefullwarrant,protectionandauthoritytoLenderforitsactionstakenpursuanthereto.
(k) AttachedtothisPaymentRequestarecopiesofinvoicesorbillsofsalecoveringallitemsbeingrequested.

(D)_AllcapitalizedtermsthatarenotdefinedwisetforthintheLoanAgreement.
jnthisCertificationshallhavethemeaning
[signaturepagefollows]
{SignaturepagetoCertificationofBorrower'sRepresentationsandWarranties}
BORROWER:
FLATSATSOUTHCAPITOLLLC,aDistrictofColumbialimitedliabilitycompany
By: Buwa

odSignatory
Date:
EXHIBIT J.
FORM OF FINAL LOAN
REDUCTION CERTIFICATE
32
4931-1687-9702,v.4
LOANREDUCTIONCERTIFICATE,
InsccordancewithapplicableProgamRequzeensandpursuantfotheemsoftheAgreement,dated2021,byandterweentheDistofColumbia,municipalcorporation,cngbyandtroughtheD.C.DepartmenofowingandCommunityDevelopment(Lede)and[BORROWERNAME]("Bomar"):
‘ALendermadeaoanotheBorowerintollrnc amountotoexceed{LOANAMOUNT]and00/100Dollars(th"Loan",heproceedsofwhichweetobeusedbytheBorowerobelpfnacetheproductionof[NUMBEROFUNITS}affordablerentalowingwitsot[PROJECTADDRESS](the“Project,asoom as"90000and
(Onopriortotheniceties(0)dayae heBorrowerrecievesheUnitedStatesDepartmentofthe‘TreasuryInternalRevenueServiceLow-IncomeHousingCreditAllocationandCetfition(Form8605),theBorrowersreqtedoprovideteLenderwithaLoanReduetionCerificate,preparedandexecutedbyteBorrower,ceifyngthenetamountoftheExcessProceedsavailbleromthePrejctthatwlbeasfthe‘ender(FinalLaanRedvtionCaleulaton"),pursunttoSection1()oftheAgreement.

PortepurposesofthisLoanReductionCatiet,theterm“ExcessProceed”eens:
(1)Thesumofafindsthatweresedforatemporarypurposetotheexentthatsuchfds areorwilbesubsequentlyretetoBomower(th“RetiredPur"at‘morepaicullydescribedanddefinedinSeton1) oftheAgreement,
(©PLUSthenetreductionnotacostssownintheProjectBudgetduetunepentcontingencyfinds,unspentsorteeservesoberbudgetang(the"CosSuvings"adefinedinSetonI(Qi.oftheAgreement),
(@)PLUSanyincreaseinfaringthtiscommitedtotheProjetafertheCovingDateoverandabovethefringsoureesshownontheProjectBudget(he“creasedSources"asmorepaticullydesrbedanddefinedinStion HA.oftheAgreement),

(@)ForanBxcessProceedstotinghefelowing:
‘TheFinalLomReductionCleltinduothLenderequalthesmf10%oftheReturnedFunds,50%ofheCotSevng,nd30%ofteoresSores,feratlot En
‘TheLenderRetinagetrainsundisbusedequals:
‘TheamountoftheFinalLoanReductionCalculationpayabletoLenderatersubctngremainingLenderRetsnage,iapplicableandapprovedperSeton1()oftheAgreement,a8flows:

‘TheFetiminaryLoanReductionCalculationshalbepreparedandupdatedpursuanttoSeton1()oftheAgreement.CpitaliedtemsusedhereinandwtotherwisedefinedhereinsalhavetemeaningsaseribedheretotheAgement
‘Theuneignodhereby()cetfisthattheBorowerhasexaminedtheinformationincludedinthisLoanReductionCerticatean,tothebestofthedesign'skoowiedg,itistue,caretandcomplete,a (i)submishsLoanReductionCerificatetotheLenderinodetocomplywilthetertoftheAgreement.
cutedhit__dayof. 20.
BORROWER:
{BORROWERNAME},sDistictofColumbialimitedBabilitycompany

By

By.(wANME},HTL]

EXHIBITKFORM OF NET CASH FLOW
CALCULATION WORKSHEET
K-l
4931-1687-9702,v.4
DCDHCD-SurplusCash,NetCashFlowandLoanRepaymentAnalysis{tarsinbeandhighghedinyetiarobecompletedesfacarefermi)[Preateuse2019HUDChorafAezounsosaearn ws7osces
Borower:ProjectName?[AccountNumber[bateofAud:(aualto[FoFunter
‘SURPLUSCASH:
currantAssetscash‘TenantSvenaofr ParoCoversty‘barancalttomeieTenantSecuDepots‘nerCureAse:‘tneCurentase:‘nercuenta:‘herCuanAe:(therCureAsa:‘otacutAces

‘Currentobiations‘peerngage netDesnguetMongagePalPayments‘AcccutsPayal-Trae(vow30dye)‘SeyaaiogPamentsendOspnteDeftaesurat,fMPExcowDegenecruedExpnses(NoEtOH)Propane‘eranSweriyDepotstiny(er CaenOuigeonberCentCoit(rercarerception:(arCarenOso:(berCurentsignTotalCurentObigaons

‘SurplusCathAvaiabeforDattbuton
[NotCashFowWate perLoanAgromeat&DoodofTrtNota‘GrentyeraslManagemen60‘Accuestara:FeoCritAutaPamae!Ce ShortPeat‘TaroonieconaioEquitynarAsolo OpryadebSvcResaresParoarsipwarsgenarFoeDeterCawsaprsFoePpl andAcrenes)nee
one:Basce(Bebetearpayin

EXHIBIT L,
MODIFICATIONS TO LOAN AGREEMENT

ThefollowingmodificationsaremadetothetextoftheAgreementthatprecedesthisExhil
1.Section4.9isdeletedandreplacedwiththefollowing:InsufficiencyofLoanProceeds.IfatanytimeduringthetermofthisAgreement,LenderdeterminesthattheremainingundisbursedLoanproceeds,inadditiontootherfundsavailabletotheProject,areinsufficientforanyreasontocompletetheProjectsubstantiallyinaccordancewiththePlansandSpecifications,Borrowershall,withinten(10)daysafterreceiptofNoticethereof(includingastatementofthebasisforsuchinsufficiency)fromLender,depositwithLenderoritsdesigneesuchsumsofmoneyincash(fromsourcesotherthantheLoan)asreasonablyarerequiredtoeliminatetheinsufficiency.AnyamountsodepositedbyBorrowershalllstandasadditionalsecurityforBorrower'sobligationsunderthisAgreementandmaybedisbursedatLender’soptionbeforeanyfurtherLoandisbursementsaremadehereunder.
2.Section5.5isdeletedandreplacedwiththefollowing:FinancialInformation,AllfinancialinformationheretoforefurnishedtoLenderconcerningBorroweriscompleteandcorrectinallmaterialrespects,andfairlypresentsBorrower'sfinancialpositionasofthedatethereof.Therearenoliabilities,directorindirect,fixedorcontingent,ofwhichBorrowerisawareexceptasreflectedtherein.TherehasbeennomaterialadversechangeinBorrower'sfinancialconditionoroperationssincethedatesofthosefinancialinformation(andtoBorrower'sknowledge,nosuchmaterialadversechangeispendingorthreatened),andBorrowerhasnotguaranteedtheobligationsof,ormadeanyinvestmentinoradvancesto,anyPersonexceptasdisclosedinsuchinformation.Borrowerhasgoodandmarketabletitletoallofitspropertiesandassets,freeandclearofencumbrances(otherthanthePermittedEncumbrancesorotherwiseaspermittedbyLender),exceptasreflectedinthat
information.

3.Section13.4isdeletedandreplacedwiththefollowinNonassignability,NeithertheLoannoranydisbursementthereundermaybeassignedbyBorrowerwithoutLender'spriorwrittenconsent;provided,however,thatonlywithLender’sapproval,whichshallnotbeunreasonablywithheld,conditioned,ordelayed,BorrowermayassignthisLoanandtheLoanDocumentstoanotherborrowerforthepurposesofalow-incomehousingtaxcreditorotheraffordablehousingpreservationtransaction.NeithertheLoannoranydisbursementsthereundershallbesubjecttotheprocessofanycourtonlegalactionbyoragainstBorroweroritsprincipals,officers,torsorshareholdersorbyoragainstanyoneclaimingunderorthroughBorroweroritsprincipals,officers,directorsorshareholders.ForpurposesofthisAgreement,theLoanshallremaininthecustodyofLenderuntilBorrowercomplieswithallprovisionshereof,exceptthatnothinghereinshallbedeemedtomodify,affectorsubordinatetheobligationsheretoforegivenortobegivenbyBorrowerassecurityfortheLoan,allofwhichshallbeandremaininfullforceandeffect,thisAgreementbeing

4981-1667-9702,v.4
intendedonlyasadditionalsecurityandprotectionfortheLoanandtoassureitsuseforthepurposesintendedbyLender.
RIDER 1
LOW-INCOME HOUSING TAX CREDIT PROVISIONS
ThisLOW-INCOMEHOUSINGTAX CREDITSPROVISIONSRIDER(this“LIHTCRider”)isattachedtoandamendstheLoanAgreementbyandbetweenbyFLATSATSOUTHCAPITOL
LLC,aDistrictofColumbialimitedliabilitycompany(“Borrower”)andtheDISTRICTOFCOLUMBIA, a municipalcorporation,actingbyandthroughtheDEPARTMENT OF
HOUSING AND COMMUNITY DEVELOPMENT (“Lender”),datedasofthe
(the“LoanAgreement”).
TotheextentanyprovisionsofthisLIHTCRiderconflictwithanyprovisionsinthebodyoftheLoanAgreement,theprovisionsofthisLINTCRidershallprevail.AnytermsinthebodyoftheLoanAgreementnotinconflictwiththeprovisionsofthisLIHTCRiderremaininfullforceandeffect.AnycapitalizedtermsnotdefinedinthisLIHTCRidershallhavethemeaninggiveninthebodyoftheLoanAgreement.
NotwithstandinganythingelseintheLoanAgreementtowhichthisLIHTCRiderisattached:
1. DEFINITIONS.ThefollowingtermshallbeaddedtotheLoanAgreement:
(@) “EquityInvestor”means,together,R4SCDCAcquisitionLLC,aDelawarelimitedliabilitycompany,and AffordableHousingFund II-ILLC, a Missourilimitedliabi
company.

2. NOTICE.
Lenderagreesthat,aslongasEquityInvestorisamemberorpartnerofBorrower,LendershallendeavorasacourtesytoEquityInvestortodelivertoEquityInvestoracopyofany noticeofdefaultthatisdeliveredtoBorrower.EquityInvestor’saddressforsuchnoticepurposesis:
R4SCDCAcquisitionLLC780ThirdAvenue,16"Floor
‘NewYork,NewYork10017Attention:MareD.Schnitzer
AffordableHousing Fund III-ILLC
c/oSugarCreekRealtyLLC17WestLockwoodAvenueStLouis,Missouri63119Attention:LegalDepartment
Withacopyto:
4931-1667-9702,v.4
KleinHornigLLP1325G StreetNWSuite770
Washington, DC 20005
DawnaJ.Steelman
EquityInvestormaychangetheaddresstowhichnoticesintendedforitaretobedirectedbymeansofwrittennoticegiventoLender.
3. OPPORTUNITY TO CURE.
AnycureofanydefaultbyBorrowerofferedbyEquityInvestorshallbetreatedthesameasifofferedbyBorrower.
4991-1687-9702,v.4