Proposed Contract with Benning Road Metro Apartments LLC to Contract No. 2026-02

MURIEL BOWSER
MAYOR

December 4, 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. 2026 -02 with Benning Road Metro Apartments LLC in the amount of
$26,000,000.

Under the proposed contract, the District will loan $26,000,000 from the Housing Production Trust
Fund to Benning Road Metro Apartments LLC, which will use the proceeds of the loan to finance
certain eligible acquisition costs, predevelopment costs, soft costs, and construction hard costs for
109 units of affordable housing located at 4401-4435 Benning Road NE in Ward 7.

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 Charles Lindsay, Chief of Staff, Department of Housing and Community Development, at
(202) 442-7144.

I look forward to the Council’s favorable consideration of this contract.

Sincerely,

Muriel Bowser

GOVERNMENT OF THE DISTRICTOF COLUMBIA
Departmentof HousingandCommunity
Development
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COUNCIL CONTRACT SUMMARY.
Pursuanttosection202(c)oftheProcurementPracticesReformActof2010,effectiveApril8,2011(D.C.Law18-
371;D.C.OfficialCode§2-352.02(c)),thefollowingcontractsummaryisprovided:
(A)Theproposedcontractor,contractamount,unitandmethodofcompensation,contract
term,andtypeofcontract:
ProposedContraetor:BenningRoadMetroApartmentsLLC
ContractAmount: $26,000,000
UnitandMethodofCompensation:DrawSchedule
TermofContract:42yrs/3%simpleinterest
‘TypeofContract:LoanAgreement
(B)Thegoodsorservicestobeprovided,themethodsofdeliveringgoodsorservices,and
anysignificantprogramchangesreflectedintheproposedcontract:
TheDepartmentofHousingandCommunityDevelopment(DHCD)proposestoprovidea
JoantoBenningRoadMetroApartmentsLLCintheamountof$26,000,000.00fromthe
HousingProductionTrustFundforthepurposeoffinancingcertaineligibleacquisition
costs,predevelopmentcosts,softcostsandconstructionhardcostsassociatedwith109
affordablehousingunitslocatedat4401-4435BenningRoadNE Washington,DC 20019
Ward7.

(C)Results,includingthepriceandtechnicalcomponents:
DHCDreceivedarequestforfundingfromtheborrowertobeusedforthepurposeof
financingcertaineligibleacquisitioncosts,predevelopmentcosts,softcostsandconstruction
hardcostsassociatedwiththedevelopmentof109newaffordablehousingunitslocatedat
4401-4435BenningRoadNEWashington,DC20019inWard7.
Page1of3
(D) Thebackgroundandqualificationsoftheproposedcontractor,includingitsorganization,financialstability,personnel,andpriorperformanceoncontractswiththeDistrict
government:
OwnersofBenningRoadMetroApartmentsLLC arecomprisedofMarshallHeightsCommunityDevelopment
Corporation(51%)andNRP Group(49%).
Allentitiesinvolvedintheproposedcontractorhavesatisfactorypriorperformanceoncontractswiththe
Districtgovernment.
(E) Performancestandardsandtheexpectedoutcomeoftheproposedcontract:
Receiptofa$26,000,000HPTFloanfortheproductionof109affordablerentalhousingunitsinWard7.
(F) A certificationthattheproposedcontractiswithintheappropriatedbudgetauthorityfortheagencyforthefiscalyearandisconsistentwiththefinancialplanandbudgetadoptedinaccordancewithD.C.OfficialCode§§47-392.01and47-392.02:
TheloanwillbefundedthroughtheHousingProductionTrustFund.TheProject’sbudgetisconsistentwiththeDistrict'sfinancialplanandbudget.
(G) A certificationthattheproposedcontractislegallysufficient,includingwhethertheproposedcontractorhasanycurrentlypendinglegalclaimsagainsttheDistrict:
AlegalsufficiencymemorandumfromtheOfficeoftheGeneralCounselisattached.
(H)AcertificationthattheproposedcontractoriscurrentwithitsDistrictandfederaltaxesorhasworkedoutandiscurrentwithapaymentscheduleapprovedbytheDistrictorfederalgovernment:
Districtandfederaltaxlawcompliancecertificationsareattached.
(D)Thestatusoftheproposedcontractorasacertifiedlocal,small,ordisadvantaged
businessenterpriseasdefinedintheSmall,Local,andDisadvantagedBusiness
EnterpriseDevelopmentandAssistanceActof2005,effectiveOctober20,2005(D.C.
Law 16-32;D.C.OfficialCode§2-218.01etseq,

BenningRoadMetroApartmentsLLCisnotacertifiedlocal,small,ordisadvantagedbusiness
enterprise.
(J)OtheraspectsoftheproposedcontractthattheChiefProcurementOfficer
considerssignificant:
None
Page2of3
(K)Astatementindicatingwhethertheproposedcontractoriscurrently
debarredfromprovidingservicesorgoodstotheDistrictorfederalgovernment,
thedatesofthedebarment,andthereasonsfordebarment:
TheproposedcontractorisnotcurrentlydebarredfromprovidingservicesorgoodstotheDistrictorfederalgovernment.A debarmentaffidavitisattached.
(L)Wherethecontract,ifexecuted,willbemadeavailableonline:
The contractsummary willbe availableatwww.dhed.de.gov.
Page3of3
Ke KK GovernmentoftheDistrictofColumbia

OfficeatheChitFinancialOfficer 110148Steet,SWHEE OfficeofTaxandRevenue ‘Washington,DC20028
DateofNotice:October1,2025 NoticeNumber:10015039501 =
BENNINGROADMETROAPARTMENTSLLC FEIN:#*-#934691228EUCLIDAVEFL4 CaseID:18725996CLEVELANDOH44115-1834
CERTIFICATEOF CLEAN HANDS:
AsreportedintheCleanHandssystem,theabovereferencedindividual/entityhasnooutstandingliabilitywiththeDistrictofColumbiaOfficeofTaxandRevenueortheDepartmentofEmploymentServices.Asofthedateabove,theindividual/entityhascompliedwithDCCode§47-2862,thereforethisCertificateof Clean Hands isissued.
TITLE 47.TAXATION, LICENSING, PERMITS, ASSESSMENTS, AND FEES
CHAPTER 28 GENERAL LICENSE
SUBCHAPTER II.CLEAN HANDS BEFORE RECEIVING A LICENSE OR PERMIT
D.C. CODE § 47-2862(2006)
§ 47-2862 PROHIBITION AGAINST ISSUANCE OF LICENSE OR PERMIT
i aa‘AuthorizedBy MelindaJenkins
BranchChief,CollectionandEnforcementAdministration
To validatethiscertificate,pleasevisitMyTax.DC.gov. On theMyTax DC homepage, clickthe
“Validatea CertificateofClean Hands” hyperlinkundertheClean Hands section.

11014thStreet

iteW270,Washington,DC20024/Phone:(202)724-5048/MyTax.DCgov
InitialFile#:00007843288EntityType:LLC
GOVERNMENT OF THE DISTRICT OF COLUMBIA
DEPARTMENT OF LICENSINGAND CONSUMER PROTECTION
CORPORATIONS DIVISION
==a
CERTIFICATE
THIS IS TO CERTIFY thatallapplicableprovisionsofthe DistrictofColumbiaBusiness
OrganizationsCode(Title29)havebeencompliedwithandaccordingly,thisCERTIFICATEOFGOOD STANDINGisherebyissuedto
BenningRoadMetroApartmentsLLC
WE FURTHERCERTIFYthatthedomesticentityisformedunderthelawoftheDistricton11/17/2023;thatallfees,andpenaltiesowedtotheDistrictforentityfilingscollectedthroughtheMayorhavebeenpaidandPaymentisreflectedintherecordsoftheMayor;Theentity'smostrecentbiennialreportrequiredby§29-102.11hasbeendeliveredforfilingtotheMayor;andtheentityhasnotbeendissolved.Thisofficedoesnothaveanyinformationabouttheentity'sbusinesspracticesandfinancialstandingandthiscertificateshallnotbeconstruedastheentity'sendorsement.
INTESTIMONY WHEREOF Ihave hereuntosetmy handandcausedthesealofthisofficeto
beaffixedasof10/2/20259:49AM
Businessand ProfessionalLicensingAdministration
REBECCAJANOVICH
SuperintendentofCorporations,CorporationsDivision

MurielBowser
Mayor
Tracking#:viInCLwk
ne=Ss
GOVERNMENT OF THE DISTRICT OF COLUMBIA
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
acdOctober27,2025
+
*
*OE
VIA ELECTRONIC MAIL,
Commissioner,Secretary,KimoryKsoOrendoff
ANC 7F03Washington,DC 20019

Re:BenningRoadMetroAffordable
Dear Commissioner,Orendoff,
PursuanttoD.C,OfficialCode§1-309.10(2001ed.,thisletternotifiesyouthattheDepartmentofHousingandCommunityDevelopment(“theDepartment”)proposesfundingfortheBenningRoadMetroAffordable project.The financingincludes$26,000,000 from the Housing PreservationTrust Fund
(HPTF),$33,614,515infederalLIHTCequity,and$7,161,484inD.C.LIHTCequity.Thesefundswillsupportpreconstruction,acquisition,construction,andrelatedcostsfora109-unitaffordablehousingdevelopmentat44014435BenningRoadNE,Washington,D.C.20019.

‘AdvisoryNeighborhoodCommission7Fhasthirty(30)businessdaysfromthedateofthisnoticetosubmitcommentsontheproposedaction.AsrequiredbyDistrictlaw,theDepartmentwillgivegreat‘weighttoallrelevantANCconcernsorrecommendations.
CommentsmustbereceivedbyThursday,December10,2025.Pleaseincludeareferencetothesubject‘matteridentifiedaboveinyourresponse.CommentsmaybesubmittedbyemailtoPamelaHillsmanatpamela.hillsman@dc.govorbymailtotheDepartmentofHousingandCommunityDevelopment,OfficeoftheDirector,Attn:PamelaHillsman,1909MartinLutherKingJr.AvenueSE,4thFloor,Washington,D.C. 20020,
Ifyouhaveanyquestionsregardingthisproject,pleasedonothesitatetocontactLisaWilliamsat(202)
442-7250orviaemailatlisa.williams1@dec.gov.
ColleenGreen
Director

1909MartinLutherKingJr.Ave,SE,Washington,D.C.20020(202)442-7200Fax(202)645-5870
ce: WendellFelder,Ward7Councilmember
RobertC.White,Jr.,At-LargeCouncilmember
KentBoese,OfficeofAdvisoryNeighborhoodCommissions
ChrisMarshall,VicePresidentofDevelopment,NRPGroup
GOVERNMENT OF THE DISTRICTOF COLUMBIA
PROFILE SUMMARY
(CONTRACTs TO PURCHASE,SELL,ACQUIRE,TRANSFER,LEASE OF REAL PROPERTY/
EXCLUSIVE RIGHTAGREEMENTS/LOANs & GRANTs OVER $1M/INTRA-DISTRICTs)
ContractingAgency:Dept.HousingandCommunityDevelopment AgencyCode:
UsingAgency: Dept.HousingandCommunityDevelopment AgencyCode:
Loan/Grant/LeaseSub-recipientName:BenningRoadMetroApartmentsLLC
ShouldtheD.C.Councilhaveanyquestionsregardingthisloan/grant/lease,pleasecontact:
ProjectManagers:LisaWilliams TelephoneNumber: (202)442-7250
TYPE OF DO [ENT SUBMITTED

iL.DoanGranvLease Modification 4 O Writtenor InformalContract

2. oO Exerciseof GrantOptionYear (E.O.) s,1 LeaseofRealProperty

3,MB) Loan/Grant/LeaseAgreementfor:
Benning Road Metro Apartments LLC

b. Other:

LOAN/GRANT TYPE

1. [7] Grant 4.[-] CostReimbursement

2. BH) LoanPrice$26,000,000.00 5.[[] TimeandMaterial

3. [[]TaskOrder 6. oO Advance Payment

Page1of4

GRANT/LOAN/LEASE INFORMATION
Grant/Loan/LeaseNo.:_DHCD Amount:___$26,000,000.00(HPTF)
InterestRate:3%
DoesthisGrant/LoanAmountexceed$1million: Yes No F]
Ifyes,pleaseattachacopyoftheDCCouncilapprovalandprovidethefollowinginformation:

Datereceived: Dateapproved:
LEASEINFORMATION
TotalCost
Locati AnnualCost
Sq.Ft.Leased: CostPerSq,Ft.
TotalBldg.Sq.Ft: % Sq.Ft.LeasedByD.C.
BRIEFDESCRIPTIONOF GRANT/LOAN/LEASE

SOURCEOFFUNDING
Ty Appropriated 4, Intra-District
2. Capital 5.(interSurscietional
3D] Grant) 6.gg)Other:HPTF

Ifprocurementactionisfundedbygrantorothernon-capitalornon-appropriatedfunds,willtheDistrictneedtoexpendsomeportionofitsfundspriortoreceivingfundsfromthegrantororotherfundingsource?
O ves [No x NA
IfYes,indicatetheamounttheDistrictwillneedtoexpendandthepercentagethisamountrepresentsofthetotalfundsrequiredtosupporttheeffort.DistrictFunds$
Se.
Page2of4

5.
CRITICALISSUESASSOCIATEDWITHGRANT/LOANACTION
IsthisGrant/Loanoneofmultiple(morethanone)Grants/Loansforsimilargoods,services,etc.,awardedbytheAgencytothissubrecipient,orrelatedentity,withinthelasttwelve(12)months?
Mi yes 7) No
Havereservedfundsbeenobligatedforpayment?(IfYes,ensuredocumentatiorGrant/LoanFile).
yes [] No
IstheFilecomplete?(IfYes,pleaseattachpertinentdocumentation).
Bi ves [] vo
IsthesubrecipientasuccessortooraffiliatedwithanotherindividualorbusinessthathasGrant/LoanwiththeAgency?
HE ves _| No
IfYes,nameofPredecessor/Affiliate:
includedin

FloridaAvenueApartmentsLLCistheentitythatownsNoMaUnionMarketAffordable,aDHCD-financedprojectcurrentlyunder construction.FloridaAvenue Apartments LLC is51% owned by
MarshallHeightsCommunityDevelopmentOrganizationand49%byTheNRPGroup.Thissame‘ownershipstructurewillbeinplaceforBenningRoadMetro.
IsaformerDistrictemployeeanowner,officer,oraffiliateofthesubrecipient?
HB ves [J No
IfYes,NameandAffiliation:ChrisMarshalltheProject’sVicePresidentofDevelopmentwithTheNRPGroup,isaformerEmployeeofDHCD,servingfrom2014-2016,asanAnalystintheResidentialServicesDivision,specializinginInclusionaryZoning.
Pleasediscussanyothercriticalissuessuchastimeconstraints;healthandsafetyissues;orfinancial/revenueproductionissuesthatshouldbeknown.N/A
FUTUREINFORMATION/DOCUMENTATIONTOBESUBMITTEDTOAUTHORITY
IFGrant/LoanISAWARDED

Award Date 4. LJ ClaimsBy/AgainstGrant/Loan

1 ExpirationDate 3. [_]CertifiedCompletionDate

[J Amendments 6. [_]FinalPaymentDate

Page3 of4





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Bethany Spooner
Digitally signed by Bethany Spooner
Date: 2025.11.21 12:21:01 -05'00'
Leroy Clay III
Digitally signed by Leroy Clay III
Date: 2025.11.21 12:53:32 -05'00'
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LOAN AGREEM}

between
BENNING ROAD METRO APARTMENTS LLC,
aDistrictofColumbiaLimitedLiabilityCompany
asBorrower
and
DISTRICTOF COLUMBIA,amunicipalcorporation,actingbyandthroughtheDEPARTMENT OF
HOUSINGAND COMMUNITY DEVELOPME)

asLender
Datedasof 2025
DHCD ContractNo.2026-02
ProjectName Benning Road Metro Affordable
DMFIRM #41903568 v25 1
Section1.
Section2.
2.1.
2.2.
23.
2.4.
Section3.
Section4.
41
4.2.
43.
44.
45.
4.6.
4.7.
4.8.
4.9.
4.10.
4.11.
4.12.
4.13
Section5.
5.
Sz
5.3.
5.4.
555
5.6.
54.
5.8.
5.9.
5.10.
5.1.
5.12.
5.13.
Section6.
6.1.
6.2.
6.3.

Definitions...
Loan..Generally.MakingofPaymentsUseofLoanProceed:AdditionalFinancing

Reserved...
RequirementsandConditionsforLoanDisbursements..
InitialDisbursement.‘SubsequentDisbursements..
FinalDisbursementPaymentProceduresandRequirements...ConditionsPrecedenttoSubsequentDisbursements
Retainage..AdditionalConditionsforFinalDisbursement.FinalAdjustmenttoLoanAfterClosing.
InsufficiencyofLoanProceeds..AuthorizedDisbursements.
DisbursementsNotaWaiver..StoredMaterials.
NoEscrow.

RepresentationsandWarranties.
StatusAuthoritNoConflictingAgreements
Litigation..
FinancialInformation...Receivership.
Tax Returns.
LiensonProperty.
Utilities,Roads.
ZoningandLandUse.CostBreakdown.
OFACLis
Covenants,
ConstructionofProject
Insurance...
Accounting/AuditRequirements
LoanAgreement(RevisedJan.2023) i
6.4.
6.5.
6.6.
6.7.
6.8.
6.9.
6.10.
6.11.
6.12.
6.13.
6.14.
6.15.
6.16.
6.17.
6.18.
6.19.
6.20.
Section7.
TDs
72.
73,
Section8.
Section9.
Section10.
Section11.
Section12.
Section13.
13.1,
13.2.
13h.
13.4,
13.5.
13.6.

Inspection...
MaintenanceandRepairObstructions
Permits,LicensesStructuralInjury,Nuisance,WasteandOtherProhibitedUseCompliancewithLawsReporting.Records and Retention

FeesofLender’sAgentsPerformanceofOtherAgreements...‘AcknowledgementofLenderFinancin;PropertyManagementAffordabilityCovenants.HazardousMaterialsIndemnity.
Default;Remedies..Defaults
RemediesofLenderonEventofDefaultNoRemedyExclusive;DelaysorOmissions;Waiverof

reac!

AdditionalLocalandFederalRequirementsApplicabletoBorrowe

ConflictOfInterest/LimitofLiability

rimination...

NoticeofNon-

FreedomofInformation Act

AntideficiencyActLi
Miscellaneous ”ReimbursementofDisbursementsMadeorOtherCostsIncurredbyLender.InterestonAdditionalPaymentsandReimbursementsIndemnificationofLenderNonassignabilityLiabilityofLenderNoPartnership,JointVenture,AgencyWaiverofJuryTrial/ServiceofProcess/CourtCosts..NoThirdPartyBeneficiariesCounterparts|.Notices.Amendment..SurvivalofAgreementsEntireAgreement;Successorsan

LoanAgreement(RevisedJan.2023) ii
13.14.Severability.
13.15.DescriptiveCaption:13.16. Construction
13.17.GoverningLaw.13.18.ConflictwithProgramRequirements

\s;Headings.

The followingexhibitsand ridersattachedheretoareincorporatedintoand deemed partofthis
Agreement.

iS%aesa
SummaryofLoanTerms
ProjectBudget

ConstructionDrawSchedule
ExhibitD FederalLaborStandardsContractAddendum
ExhibitE. Davis-BaconWage Determination
Section3ContractAddendum

DevelopmentTeamDebarmentAffidavit
InsuranceRequirements
ExhibitH
Exhibit1

Certificationof Borrower'sRepresentationsandWarranties
FormofFinalLoanReductionCertificate

FormofNet CashFlowCalculationWorksheet
REE)
KREIS
ExhibitL.
ModificationstoLoanAgreement

E
a
I Rider1
LoanAgreement(RevisedJan.2023)
[Low-IncomeHousingTaxCreditProvisions
iii
LOAN AGREEMENT
THISLOAN AGREEMENT (this“Agreement”)ismadeasofthis___ dayof.
,2025fromBENNING ROAD METRO APARTMENTS LLC,a Districtof
Columbialimitedliabilitycompany(“Borrower”),andtheDISTRICTOF COLUMBIA,amunicipalcorporation,actingbyandthroughtheDEPARTMENT OF HOUSING AND
COMMUNITY DEVELOPMENT (“Lender”).
RECITALS
‘A. BorrowerownstherealpropertyintheDistrictofColumbialocatedat4401-4435
BenningRoadNE,Washington,D.C.20019;
B. BorrowerhasappliedtoLenderforaloaninatotalprincipalamountnottoexceed
‘Twenty-SixMillionand00/100Dollars($26,000,000.00)(the“Loan”),theproceedsofwhich
shallbeusedbyBorrowertofinancetheProject(asdefinedbelow);and
C. LenderhasagreedtomaketheLoanonthetermssetforthinthisAgreement.
NOW, THEREFORE, in considerationof the mutual promises and covenants contained
herein,andothergoodandvaluableconsideration,thereceiptandsufficiencyofwhicharehereby
acknowledged,thepartiesagreeasfollows:
Section1. DefinitionsAsusedherein:
“ActofBankruptcy”meansthefilingofa petitioninbankrupteyundertheUnitedStates,
BankruptcyCode,11U.S.C.§101efseg.(andallfutureactssupplementaltheretooramendatory
thereof)orthecommencementofa proceedingunderanyotherapplicablelawconcerning
insolvency,reorganizationorbankruptcybyoragainstBorroweroranyguarantor,asdebtor.
“Affordable Housing Covenant” means thatcertainAffordable Housing Covenant by
Borrower forthebenefitof Lender,which setsforthBorrower’s covenants to rentthe Affordable
UnitstoQualifiedTenantsinaccordancewiththeProgramRequirementsandtheLoan
Documents,whichagreementshallberecordedagainstthePropertyasacovenantrunningwith
theland.

“AffordabilityPeriod”meanstheperiodduringwhichBorrowershalloperatetheProject
asaffordablehousingunitsincompliancewiththeAffordableHousingCovenantandtheProgram
Requirements.
“AffordableUnit”meansaresidentialhousingunitthatisreservedforandleasedtoQualifiedTenantsattheapplicableincomelimitforsuchunitandatrentsthatareaffordable
pursuanttotheAffordableHousingCovenant.“AffordableUnit”asusedhereinhasthesame
meaningas“ReservedUnit”asusedintheHPTFProgramRequirements.Notwithstandingany
provisiontothecontrary,anOver-IncomeTenant(assuchtermisdefinedintheAffordableHousingCovenant)mayoccupyanAffordableUnit,however,oncesuchtenantvacatesan
AffordableUnit,theAffordableUnitshallberentedtoincomeeligiblehouseholdsinaccordance

LoanAgreement(RevisedJan.2023) 1
withtheAffordableHousingCovenantandtheProgramRequirements.“AffordableUnitIndex”hasthemeaningsetforthintheAffordableHousingCovenant.
“Agreement”hasthemeaningsetforthinthePreamble.

‘AnnualOwnerCertification”meansthatcertaincertificationpreparedandexecutedby
BorrowerandsubmittedtoLender,whichcertifiesthatallAffordableUnitshavebeenrentedexclusivelytoQualifiedTenantsatrentlevelsconsistentwiththeAffordableHousingCovenant
andtheProgramRequirements.TheAnnualOwnerCertificationissubmittedtoLenderthroughitselectronicassetmanagementportal,alsoknownastheDHCD-PAMDOwner/Borrowerportal.
“Architect”meansthearchitectfortheProjectanditssuccessorsandassigns.
“Attorneys"FeesandCosts”meansallreasonablecostsandexpenses(including,withoutlimitation,reasonableattorneys’feesanddisbursementsofLender’scounsel,whetherin-housestaff,retainedfirmsorotherwise)incurredbyLenderorTrustee(assuchtermisdefinedintheDeed of Trust)inconnectionwith Borrower’s defaultunder the Loan Documents.
“Authority”meansanygovernmentalentityhavingjurisdictionoverallorpartoftheProperty,theProject,oroverapartyhereto.
“Borrower”hasthemeaningsetforthinthePreamble.
“ChangeOrder”hasthemeaningsetforthinSection4.5.7.
“ClosingDate”meansthedateofthisAgreement.
“CompletionDate”meansthefirstdayofthe24thmonthaftertheClosingDate,subject
tocompletiondelaysthatareallowedintheConstructionContract,andasmaybeextendedwiththepriorwrittenconsentofLender,butinnoeventearlierthanSeniorLender'scompletiondate.
“ConstructionContract”meanstheagreementtobeenteredintobetweenBorroweras
owner and theContractorfortheProject.
“ConstructionDrawSchedule”meanstheLender-approveddrawscheduleattachedhereto
asExhibitC andincorporatedherein.
“Contractor”meansthegeneralcontractorfortheProjectanditssuccessorsandassigns.
“CostSavings”hasthemeaningsetforthinSection4.8.1(4).
“DeedofTrust”meanstheDeedofTrust,AssignmentofLeasesandRentsandSecurityAgreementdeliveredfromBorrowertoLender'strusteeforthebenefitofLender,andwillbe
recordedinthelandrecordsofthe Districtof Columbia to securethe Loan as evidencedby the
Note.
“DraftLoan ReductionCalculation”hasthemeaning setforthinSection4.8.1(4).
“DueDiligenceandClosingChecklist”hasthemeaningsetforthintheLoanCommitment.
LoanAgreement(RevisedJan.2023) 2
“EquityInvestor"hasthemeaningsetforthintheLIHTCRiderattachedheretoat

“EventofDefault”hasthemeaningsetforthinSection7.1.
“ExcessProceeds”hasthemeaningsetforthinSection4.8.1(4).
“FiftyPercent (50%) Completion” means the date on which fiftypercent(50%) of the
constructionand/orrehabilitationofthe Project,andallimprovements,havebeencompleted,ina
good and workmanlike manner, defect-freeand freefrom mechanic’s and materialmen’sliens,and
inaccordancewithallapplicablelawsandcodes,thePlansandSpecifications,therelevantLoanDocumentsandallenvironmentalremediationlaws,asevidencedbyasignedcertificatefromtheArchitect,whichcertificatemaybeincludedaspartofthePaymentRequestdeliveredtoLender,indicatingthatfiftypercent(50%) of the constructionand/orrehabilitationof the Project,and all
improvements,havebeencompletedinaccordancewithallapplicablelawsandcodes,thePlansand Specifications,the relevantLoan Documents and allenvironmental remediationlaws.

“FiftyPercent(50%)CompletionMeeting”meanstheprogressmeetingconvenedbyLenderfollowingFiftyPercent(50%)Completion.

|LoanReductionCalculation”hasthemeaningsetforthinSection4.8.1(4).
“FinalLoanReductionCertificate”meansthatcertaincertificatepreparedandexecutedbyBorrower,insubstantiallytheformattachedheretoasExt whichcertifiestheamountofFinalLoan Reduction Calculationinaccordance with Section4.8.1(4).

“FinancingStatements”meanstheUCC finaneingstatements,evidencingtheLoan,that
shallberecordedinthelandandchattelrecords,asapplicable,oftheDistrictofColumbiatosecureLender’slienonthefixturesandequipmentlocatedattheProperty.
“FiscalYear”meansthefiscalyearofBorrower,whichisJanuary|toDecember31.
“FOIA”hasthemeaningsetforthinSection11.1
“HazardousMaterials”meansanysubstance(i)thepresenceofwhichrequiresinvestigation,remediation,orspecialhandlingunderanyFederal,stateorlocalstatute,regulation,ordinance,orderorpolicy;or(ii)isorbecomesa“hazardoussubstance”or“hazardouswaste”underanyFederal,stateorlocalstatute,regulation,ordinance,orderorpolicy,includingthe
ResourceConservationandRecoveryActof1976(42U.S.C.§9601efseq.),asamendedfromtimetotime,ortheComprehensiveEnvironmentalResponse,Compensationand LiabilityActof
1980 (42 U.S.C. § 9601 ef seq.),as amended from time to time; and (iii)without limitation,
includesanylead,oilorpetroleumproducts,polychlorinatedbi-phenyls,PCB's,asbestos,ureaformaldehydefoaminsulationorradongas,exceptassuchproductsarecustomarilyfoundorusedinsimilarprojects.
“Household”meansallpersonswhowilloccupytheAffordableUnit,includingthetenant'sspouseordomesticpartner,allchildrenundereighteen(18)yearsofage,andallother
personsovereighteen(18)yearsofagewhowillbeoccupyingtheAffordableUnit.
LoanAgreement(RevisedJan.2023) 3
“HUD”meanstheU.S.DepartmentofHousingandUrbanDevelopment.
“Human Rights Act” has the meaning setforthin Section 10.
“Improvements”meansallstructuresorbuildingsnoworhereaftererectedorplacedontheProperty,togetherwithanyandallalterations,additions,accessionsandreplacementsthereof.
“IncreasedSources”hasthemeaningsetforthinSection4.8.1(4).
“Lender”hasthemeaning setforthinthePreamble.
“LenderRetainage”meansanamountequaltothelesseroftenpercent(10%)oftheConstructionContractortenpercent(10%)oftheLoanamountthatshallbereserveduntilthe
finaldisbursementofLoanproceeds.AssetforthinExhibitA,theLenderRetainageforthis
Projectis$2,600,000.00.

“Loan”hasthemeaningsetforthintheRecitals.
“LoanCommitment”meansLender’sletterofconditionalcommitment,andanymodificationsthereto.Intheeventofa conflictintermsbetweenthisAgreementandtheLoan
Commitment,thisAgreementshallcontrol.

“Loan Documents” means, collectively,this Agreement, the Note, the DeedofTrust, the
Affordable Housing Covenant, the Financing Statements,the Loan Commitment and any other
documentsrequiredbyLenderfromBorrower,asaconditionprecedenttodisbursingtheLoanproceeds or to evidence or securethisLoan. All Loan Documents shallbe incorporatedhereinby
reference.
“LoanTerm”meansthetermof theLoanfromtheClosingDatetotheMaturityDate(as
such term isdefinedintheNote).
“MedianFamilyIncome”or“MFI”meansthemedianfamilyincomeforaHouseholdof
four(4)personsinthe“WashingtonMetropolitanStatisticalArea”asperiodicallypublishedbyHUD,andadjustedforHouseholdsizewithoutregardtoanyadjustmentsmadebyHUD forthe
purposesoftheprogramsitadministers,asmaybeadjustedbyLendertoestablishincomelimitspursuanttotheProgramRequirements.MFIisalsoknownasAreaMedianIncomeorAMI.
Notwithstandinganythingtothecontraryherein,themaximumHouseholdincomeforaQualifiedTenantateightypercent(80%)MFIshallbeadjustedpursuanttoSection42(g)(4)oftheInternal
RevenueCode.

“NetCashFlowCalculationWorksheet”meansthatcertainworksheetpreparedand
executedbyBorrower,insubstantiallytheformattachedheretoasExhibitK,whichdemonstratesBorrower’sannualcalculationofNetCashFlow(assuchtermisdefinedintheNote)andpayments
owedtoLenderpursuanttotheNote.

“Note” means thatcertainDeed of TrustNote made by Borrower,of even dateherewith,
asamended,modified,orsupplementedfromtimetotime,whichevidencesBorrower'spromisetoLendertorepaytheLoanunderthetermsandconditionsoftheLoanDocuments.
LoanAgreement(RevisedJan.2023) 4
“Notice”hasthemeaningsetforthinSection13.10.

“OFAC”hasthemeaningsetforthinSection5.13.
“OperatingAgreement”meanstheAmendedandRestatedOperatingAgreementofBorrower,datedasoftheClosingDate,asmaybeamended.
“OPM” hasthemeaningsetforthinSection4.7.1.
“OtherContingencyUse”hasthemeaningsetforthinSection4.5.7.
“PaymentRequest”hasthemeaningsetforthinSection4.4.
“PermittedEncumbrances”hasthemeaningsetforthintheDeedofTrust.
“PermittedTransfer”meansthetransferspermittedinaccordancewithSection1.11ofthe
DeedofTrust.
“Person” means a natural person, trustee,corporation,partnership,limited liability
companyorotherlegalentity.

“PlansandSpecifications”meanstheplansandspecificationsapprovedortobeapproved
byLenderfortheProject.
“ProgramRequirements”means,collectively
‘TherequirementsoftheHousingProductionTrustFund,including,butnotlimited
to,theHousingProductionTrustFundActof1988,D.C.Law7-202,D.C.OfficialCode§42-2801efseq.(2001ed.)and10BDCMRChapter41,boththestatutesandregulations,asmaybe
amendedfromtimetotime(collectively,the“HPTFProgramRequirements”).
TherequirementsoftheSection8project-basedvoucherprogram,including,but
notlimitedto,theFederalandDistrictofColumbiaHousingChoiceVoucherProgramrulesandregulationsat24CFRPart982and983and14DCMR Chapters49,51,53,54,56,59,61,93and
95.TheSection8project-basedvoucherprogramisadministeredbytheDistrictofColumbia
HousingAuthority.

‘TherequirementsoftheLocalRentSupplementProgram,including,butnotlimitedto,the Federaland Districtof Columbia Housing Choice Voucher Program rulesand regulations
at 24 CFR Parts982 and 983, and 14 DCMR Chapters 49, 51, 53, 54, 56, 59,61, 93 and 95. The
LocalRentSupplementProgramisadministeredbytheDistrictofColumbiaHousingAuthority,
©] TherequirementsofthePermanentSupportiveHousingProgram,whichprovidessupportivehousingforanunrestrictedperiodoftimeforindividualsandfamilieswhowereoncehomelessandcontinuetobeatimminentriskofbecominghomeless,includingpersonswithdisabilitiesasdefinedin24CFR§582.5,forwhomself-sufficientlivingmaybeunlikelyandwhosecarecanbe supportedthroughpublicfunds.SeeD.C.OfficialCode§4-751.01(28).
AffordableUnitsthataresubjecttothePermanentSupportiveHousingProgramshallbeoperated
LoanAgreement(RevisedJan.2023) 5
inaccordancewithHUD’sHousingFirstmodelandvacanciesshallbefilledthroughtheCoordinatedEntrySystem.ThePermanentSupportiveHousingProgramisadministeredbytheDistrictofColumbiaDepartmentofHumanServices.
TherequirementsoftheDistrictofColumbiaDepartmentofBehavioralHealthPermanentSupportiveHousingProgram,includingbutnotlimitedtoTheDepartmentofBehavioralHealthEstablishmentActof2013,D.C.Law20-61,D.C.OfficialCode§7-1141.01etseq.andthatcertainMemorandumofUnderstandingBetweentheDepartmentofBehavioralHealthandtheDepartmentofHousingandCommunityDevelopment,effectiveJune16,2014,asamended,thatprovidesforfinancingdevelopmentoflong-termsupportivehousingunitsintheDistrictofColumbiafortheexclusiveuseofDepartmentofBehavioralHealthconsumers.

TherequirementsoftheHOME InvestmentPartnershipsProgram,including,but
notlimitedto,theFederalrulesandregulationsat24CFR Part92andtheHOME Written
AgreementbyandbetweenBorrowerandLender,datedasofsubstantiallyevendateherewith.

©) TherequirementsoftheNationalHousingTrustFundProgram,including,butnotlimitedto,the Federalrulesand regulationsat24 CFR Part93.
4 The requirementsoftheCommunityDevelopmentBlockGrantProgram,
including,butnotlimitedto,theFederalrulesandregulationsat24CFRPart570.
o The requirementsof theSection108 Loan GuaranteeProgram,including,but not
limitedto,the Federalrulesand regulationsat 24 CFR Part570, SubpartM and thatcertain
ContractforLoanGuaranteeAssistanceunderSection108oftheHousingandCommunity
DevelopmentActof1974,asamended,42 U.S.C.§5308efseg.,byandbetweenLenderand
HUD, dated (collectively,the“Section108ProgramRequirements’).
(1 Therequirementsofthe HousingforOlderPersonsAct,including,butnotlimited
to,42U.S.C§3607efseq.andtheFederalrulesandregulationsat24CFR Part100.
1 TherequirementsoftheHousingOpportunitiesforPersonswithAIDSAct,
including,butnotlimitedto,42U.S.C.§12901efseq.andtheFederalrulesandregulationsat24
CERPart574.
“Project”means,collectively,theImprovementslocatedortobebuiltonthePropertythatwillbefinancedwiththeLoanproceedspursuanttothisAgreement,andusedasarentalhousing
development.
“ProjectBudget”meansthesourcesandusesoftheProjectandthespecificusesoftheLoan proceedsthataresetforthinExhibitB attachedhereto.

“Property”hasthemeaningsetforthintheDeedofTrust.
“QualifiedTenants”meansHouseholdswhosehouseholdincomequalifiesfortheincome
limitfortheparticularAffordableUnittheHouseholdisleasing,assetforthintheAffordableHousingCovenantandmeetsanyadditionalcriteriasetforthintheProgramRequirements.A
LoanAgreement(RevisedJan.2023) 6
QualifiedTenantshallincludeanyOver-IncomeTenantwhohasavalidwrittenleaseandwasin
goodstandingattheProjectpriortothedateofthisAgreement.
“RegisteredAgent”meansCTCorporationSystem,withanaddressat101515thStreet
N.W.Washington,DC 2000.
“Rent”meanstheoccupancychargeforeachhousingunitandanycommercialorretailspace,ifapplicable,intheProjectpursuanttoaproprietarylease,leaseorotheroccupancy
agreementbetweenthetenantandBorrower.
“ReturnedFunds”hasthemeaningsetforthinSection4.8.1.
“SatisfactionLetter”hasthemeaning setforthinSection4.7.9.
“SeniorLender”hasthemeaningsetforthintheDeedofTrust.
“SeniorLoan”meansanyloanfromaSeniorLender,asevidencedbyapromissorynote,andotherinstruments,agreementsanddocumentsbyandbetweenBorrowerandSeniorLender,
toevidence,secureorguaranteetherepaymentoftheSeniorLoan
“SeniorLoanDocuments”meansallofthefinancingdocumentsenteredintobetween
BorrowerandtheSeniorLendertoevidencetheSeniorLoan.
“Seventy-FivePercent(75%)Completion”meansthedateonwhichseventy-fivepercent(75%)oftheconstructionand/orrehabilitationoftheProject,andallimprovements,havebeencompleted,ina goodandworkmanlikemanner,defect-freeandfreefrommechanic'sandmaterialmen’sliens,andinaccordancewithallapplicablelawsandcodes,thePlansandSpecifications,therelevantLoanDocumentsandallenvironmentalremediationlaws,asevidencedbyasignedcertificatefromtheArchitect,whichcertificatemaybeincludedaspartofthePaymentRequestdeliveredtoLender,indicatingthatseventy-fivepercent(75%)oftheconstructionand/orrehabilitationoftheProject,andallimprovements,havebeencompletedinaccordancewithallapplicablelawsandcodes,thePlansandSpecifications,therelevantLoanDocumentsandall
environmentalremediationlaws.

“SubordinationAgreement”meansthatcertainInterereditorandSubordinationAgreement
datedonoraboutthedatehereofamongBorrower,Lender,DistrictofColumbiaHousingFinanceAgency,KeyBankNationalAssociation,a nationalbankingassociation,U.S.BankTrust
Company,NationalAssociation,U.S.BancorpCommunityDevelopmentCorporation,andGreen
BankFinanceAgency.

“SubordinateLender”hasthemeaning setforthintheDeedof Trust.
“SubordinateLoan”meansanyloanfroma SubordinateLender,asevidencedbyapromissorynote,andotherinstruments,agreements,anddocumentsbyandbetweenBorrowerandSubordinateLender,toevidence,secureorguaranteetherepaymentoftheSubordinateLoan.

“SubordinateLoan Documents” means allofthe financingdocumentsenteredintobetween
Borrower and theSubordinateLendertoevidencetheSubordinateLoan.
LoanAgreement(RevisedJan.2023) 7
“UCC”hasthemeaningsetforthinSection7.2.7.
“VAWA” hasthemeaningsetforthin1)a)i)(1)(a)(2)
Section2. Loan.
2.1. Generally.
2.1.1.UseandPurpose.BorroweragreestoborrowfromLender,andLenderagreestolendtoBorrower,theLoanproceeds;suchLoanproceedsshallbeusedbyBorrowerfortheusesspecifiedintheProjectBudget,subjecttoSection2.2herein,andsubjecttoalloftheterms,provisionsandconditionsofthisAgreement.
2.1.2. Expenses and Disbursements Secured by Deed of Trust. The Loan
proceeds,Attorneys’FeesandCosts(ifany)andallotherLoanexpenses,asandwhendisbursedor incurredby Lender,willbe securedby theDeed of Trust.
2.2. MakingofPayments,Allpayments(includingprepayments)ofprincipalof,or
intereston,theLoan,shallbemadeinaccordancewiththetermsoftheNote.Alllsuchpaymentsshallbemadewithoutanyset-offorcounterclaim,andfreeandclearofanyrestrictionsorconditions,andfreeandclearofandwithoutdeductionfororonaccountof,anypresentorfuture
taxes,levies,imposts,duties,charges,fees,deductionsorwithholdingsof anynaturenoworhereafterimposedbyanygovernmentalorotherauthority.
2.3. UseofLoanProceeds.IncompliancewithandsubjecttoalltermsofthisAgreement,LenderwilldisbursetheLoantoorfortheaccountofBorrower.Borrowershall
providetoLendera costbreakdown,intradeform,andloanbudget,whichshallbeapprovedbyLender,initssolediscretion.LendershalldisbursetheproceedsoftheLoan,solongasnoEventofDefault(definedherein)hasoccurredandiscontinuing,onlyforpurposesthatarepermittedby
theProgramRequirements,andfornootherpurposes.Furthermore,theLoanproceedsshallonlybeappliedtotheusesspecifiedintheProjectBudget,exceptasmaybemodifiedwiththeprior
writtenconsentofLender,whichconsentshallnotbeunreasonablywithheld,conditionedor
delayed,

2.4.AdditionalFinancing.
2.4.1.ExceptfortheSeniorLoan(s),lowincomehousingtaxcreditequity,andtheSubordinateLoan(s),Borrowershallnotreceiveanyadditionalfundsfromanysource,concerningthisProjectwithouttheexpresswrittenconsentofLender,exceptthatBorrowershall
bepermittedtorefinancethebalanceoftheSeniorLoanatanytime,(i)fornotmorethantheoutstandingbalanceofprincipalandaccruedinterestandreasonableandnecessaryclosingcosts,(ii)fora term thatdoes notexceed theremaining termofthe Loan, and (iii)upon terms thatLender
hasdeterminedascommerciallyreasonableandforwhichLenderhasprovideditspriorwrittenapprovalinaccordancewiththeProgramRequirements(whichapprovalshallnotbeunreasonablywithheld,conditionedor delayed).
LoanAgreement(RevisedJan,2023) 8
2.4.2.IftheLoanissubjecttotheSection108ProgramRequirements,neitherLendernorBorrowershallenterintoanintercreditororsubordinationagreementwithanother
lenderwithoutHUD’spriorwrittenapproval.
Section3. Reserved.
Section 4. Requirements and Conditions for Loan Disbursements. Lender'sobligationto
makeanydisbursementofLoanproceedsissubjecttoBorrower'ssatisfactionofthefollowingrequirementsandconditions,subjectinallrespectstoSection2.3:
4.1. InitialDisbursement:

4.1.1.Ifapplicable,aninitialamountofLoanproceedsshallbedisbursedon
theClosingDateintheformofawiretofundcoststhatareapprovedbyLenderandeligibletobepaidwithLoanproceedsasdeterminedatLender'ssolediscretion,regardlessofwhenthecosts
wereincurred.

4A. Lender'sobligationtomaketheinitialdisbursementofLoanproceedsis
subjecttoBorrower'ssatisfactionofthefollowingrequirementsandconditionsunlesswaivedin
writingbyLender:

(1) Borrowermustobtain,atitssolecostandexpense,andsubmittoLender
evidencethatithassatisfiedeachoftheClosingConditions(assuchtermisdefinedintheLoanCommitment),whichshallbesubjecttoLender'sreviewandapproval,bothastosubstanceandform,andshallbeupdated
andeffectiveasofthedatehereof.
(2) OnorbeforetheClosingDate,BorrowershallhaveexecutedanddeliveredtoLendertheLoanDocumentstobeexecutedbyBorrowerandallotherdocumentsand instrumentsrequiredfromBorrowerandLenderin
connectionwiththeLoan.

@) Lender shallhave receivedan opinion of Borrower's counsel to the effect
thatBorrowerisdulyorganizedandvalidlyexistingandingoodstandingunder the lawsof the stateof itsorganization,authorizedto do businessin
theDistrictofColumbia,withfullpowertoowntheProjectandtoexecute,
deliverandperformitsobligationsunderthisAgreement;thattheLoanDocumentsexecutedanddeliveredfortheLoanarevalidandlegallybinding and enforceable against Borrower in accordance with their
respectiveterms,subjecttolawspertainingtobankruptcyandinsolvency;andopiningastosuchothermattersasmayberequiredbyLender.
(4) TherepresentationsandwarrantiessetforthinSection5 shallbetrueand
correctinallmaterialrespectson and asof theClosingDate,and no Event
of DefaultshallthenexistunderthisAgreement.
(5) TheDeedofTrustandtherelatedUCC financingstatementsandallother
LoanDocumentsrequiringfilingorrecordationshallhavebeenfiledor
LoanAgreement(RevisedJan.2023) 9
recordedintheappropriatepublicrecordsasnecessaryandappropriatetoevidenceandperfecttheliensandsecurityintereststherebycreated.
(6) SatisfythepaymentandproceduresrequirementssetforthinSections4.4.1=4.4.4,
4.2. SubsequentDisbursements:
4.2.1,Followingtheinitialdisbursement,LendershallretainthebalanceoftheLoanproceedstofundsubsequentdisbursementsinaccordancewiththeProjectBudgetandthe
ConstructionDrawSchedule,subjecttotherequirementssetforthinSections4.4and4.5.
4.2. LenderwillmakesubsequentdisbursementsoftheLoanproceedsto
Borrowerintheformof anAutomatedClearingHouse(ACH)payment.

4.2.3.LenderwillmakesubsequentdisbursementsoftheLoanproceedsto
Borrowerinatimelymanner,subjecttotherequirementssetforthinSections4.4and4.5
4.3. nalDisbursement:TheconditionsforthefinaldisbursementofLoanproceeds
arefurtherdescribedinSection4.7,andLender'sabilitytowithholdaportionoffundsfromthe
finaldisbursementisfurtherdescribedinSection4.8.

44. PaymentProceduresandRequirements:BorrowershallsubmittoLenderafullyexecuted,complete,andaccuratedisbursementordrawrequestpackage(the“PaymentRequest”),ashereafterdescribed,atleastthirty(30)daysbeforethedatefundingisbeingrequested.Paymentproceduresandrequirementsareasfollows:
44. Borrower's submissionof the Payment Request must document eligible
costsinaccordance with theProjectBudget and ConstructionDraw Schedule,as the same may be
adjustedfromtime-to-timeasconstructionprogresseswithLenderapproval,ifapplicable.

4, BorrowershallcreateandsubmitPaymentRequestsinanelectronicformatthroughtheDC VendorPortalorasuccessorsystem.TheDCVendorPortalisanonlinesystemthatallowsBorrower/vendortocreateandsubmitinvoicepackagesby selectingthe
applicablepurchaseordernumber.AllBorrowers/vendorsmustberegisteredintheportalpriortovoicesubmission.Additionaldetailsandinstructionsareavailableontheportalwebsite.

4 EachPaymentRequestmustbesubmittedintheformofa properinvoice
packagetoLender,includingallrequiredformsanddocuments,inaccordancewithLender'smostrecentpublishedguidelines.PerLender'spublishedguidelinesandinaccordancewithSection4.5,LendermayrequireadditionalsubstantiatingdocumentationbeincludedaspartofthePaymentRequestsubmittedthroughtheDC VendorPortalorsharedseparatelyutilizingLender’scloudplatformforconstructionperiodmonitoring.
4.44, EachPaymentRequestshallincludetheCertificationofBorrower's
Representationsand Warranties,attachedheretoatExhibitIand incorporatedherein,and shallbe
submittedthroughthe DC Vendor Portal.The Payment Requestshallalsocontainalldetails
LoanAgreement(RevisedJan.2023) 10
concerningtheProjectwhichLenderreasonablyrequires,andadequatesupportingdocumentationtosubstantiateeveryexpenditurethatLenderisrequestedtofund.
4.4.5.IftheLoanproceedswillbeusedtofundconstructioncosts,thePaymentRequestmustincludeacopyoftheContractor'sapplicationforpaymenttoBorrower,signedbythe Architectand confirmed by Lender’s inspector,on notarizedAIA Forms G702 and G703 or
otherformsacceptabletoLender.TheContractor’sapplicationforpaymentshallbesubjecttotheSeniorLender’sretainagerequirements,asapplicable.
4.4.6. Disbursementsshallbemadewithinthirty(30)daysofLender’sreceipt
ofa properPaymentRequest.
4.4.7,Lendershallnotberequiredtodisbursemorefrequentlythanonceevery
thirty(30)days.
4.4.8.RegardlessofwhetherBorrowerisrequestingadisbursementofLoanproceedsforaparticularmonth,BorrowershallprovideLenderwithacopyofeachdisbursementordrawrequestsubmittedtotheSeniorLenderorotherfinancingpartiesonamonthlybasis.This,copyshallincludethemonthlyapplicationforpaymentfromtheContractoranddocumentationforallotherexpendituresforwhichfundingfromotherpartiesisbeingrequested.

4.5. Conditions Precedent to Subsequent Disbursements. Lender's obligationto
makeanydisbursementshereundershallbesubjecttotheproceduresandrequirementsinSections4.4andBorrower'ssatisfactionof thefollowingconditions,asdeterminedbyLenderin
itssolediscretion:
45.1. Confirmation that any outstanding items on the Due Diligence and
Closing Checklisthave been providedtoLender,includingfinalexecutedand recordeddocuments
thatwerenotavailableatthetimeofinitialdisbursement,Lendershallbeinreceiptofafinal
electronicclosingbinder.
4.5.2.LenderhasheldapreconstructionmeetingfortheProjectandissueda
NoticetoProceedtoBorrowerandContractor.
4.5.3.— FollowingFiftyPercent(50%)Completionasdeterminedby the
Architect,LendershallholdaFiftyPercent(50%)CompletionMeeting.TheFiftyPercent(50%)CompletionMeetingmustbeconductedtoLender'ssatisfactionandanyoutstandingcompliance
concernsmustbeaddressedbeforeLendershallmakedisbursementssubsequenttoFiftyPercent
(50%)Completion.
4.5.4.Fieldprogressmeetingsshallbeheldonaregularlyscheduledmonthlybasis.Borrower,Contractor,Architect,andallnecessarysubcontractorsshallagreeonthepercentageofworkcompletedandinplace,andtheamountofstoredandinsuredmaterialson-siteandoff-site.Borrowershallberesponsiblefornotifyingallofthepartiesaboveofthetimeanddateofthemeetinginadvance.IfLender’srepresentativeisunabletoattendinpersonorvirtuallytoitssatisfaction,LenderreservesarighttoinspecttheworkperformedforwhichadisbursementissoughtorotherwiseinspecttheconditionoftheProjectbeforeprovidingitsapproval.IfLenderisunabletocompleteaphysicalinspection,date-stampedphotographicevidenceand/orvideo
LoanAgreement(RevisedJan.2023) i
footagethatverifiestheworkcompletedandbilledforinthePaymentRequestwillberequired,inaccordancewithLender’spublishedguidelines.
45.5. Lender shallhave receivedsuch certificationsof job progress,in form
satisfactorytoLender,asLendermayrequest,whichshallincludethemostrecentconstructionprogressreportorconstructionmonitoringreport,asapplicable,meetingminutes,asummaryoftheProject’srecentlycompletedandupcomingconstructionactivities,anupdatedschedule,a
descriptionofsignificantProjectissues,andtheproposedresolutionofsuchissues.RegardlessofwhetherLenderisbeingrequestedtodisbursefundingforhardcosts,Borrowerisexpectedto
submitacopyoftheconstructionprogressorconstructionmonitoringreport,asapplicable,orminutestoLenderonamonthlybasis.Inaddition,Lendershallhavereceivedcopiesofallotherrequestedreportsanddocuments,asavailable,requiredtosatisfyrequirementsofLenderandotherapplicablegovernmentalagencieshavingjurisdictionovertheProject.Inthisregard,Lendershallhavetherighttoinspectallbooks,recordsandaccountsrelatingtosuchwork,andmay,atits
option,requireexecutionbyBorrowerandanycontractors,subcontractors,laborersandmaterialmenofsuch affidavits,endorsements and releasesas Lender deems necessary.

4.5.6, Lender shall have received a waiver and releaseof liensfrom the
Contractor,acknowledgingreceiptofpaymentforpriorconstructionworkperformedandpaidout
ofpriorLoandisbursementsandothersourcesoffunding.UnlesswaivedbyLender,Borrowershallalso deliverto Lender waivers and releasesof liensfrom allfirst-tiersubcontractorsand
suppliersthathavefurnishedlabor,material,orservicesincludedinallpreviousPaymentRequests. In addition,ifany mechanic’s lienshave been filed,Borrower shallhave given notice
and copiesof such liensto Lender.

4.5.7.IfBorrowerrequestspaymentforanychangestotheapprovedPlansandSpecifications(the“ChangeOrder”),theChangeOrdershallhavebeenapproved:(i)priorto
Seventy-FivePercent(75%)Completion,bytheSeniorLenderbeforeanydisbursementofLoanproceeds;and(ii)afterSeventy-FivePercent(75%)Completion,approvedbybothLenderandthe
SeniorLenderbeforeanydisbursementofLoanproceeds.IfBorrowerrequestspaymentofsoftorothercostsfromotherProjectcontingenciesorlineitemsavings(“OtherContingeneyUse”),the
requestmustbeapprovedbyLenderafterSeventy-FivePercent(75%)Completion.IfrequestedbyLender,BorrowershallfurnishallnecessaryChangeOrderandOtherContingencyUse
documentation,Notwithstandingtheforegoing,LenderreservestherighttoreviewandapprovethescopeandcostofanyChangeOrderandOtherContingencyUse,regardlessofwhenthe
ChangeOrderandOtherContingencyUse,asapplicable,wasincurredandregardlessofwhethertheChangeOrderandOtherContingencyUse,asapplicable,istobefundedwithLoanproceeds
orothersources.LenderalsoreservestherighttowithholddisbursementofLoanproceedsifLenderdetermines,initssolediscretion,thattheProjectcannotbecompletedinaccordancewith
theapprovedPlansandSpecificationswiththeundisbursedportionoftheLoanandother
constructionsourcesoffunds.

4.58. IfrequestedbyLender,Borrowershallprovideexecutedsubcontractsor
anyothersupplementaldocumentsdeemednecessarytoverifythePaymentRequest.
4.5.9.UnlesswaivedbyLender,adate-downtoitstitlepolicyatthetimeofdisbursement,ensuringthecontinuedpriorityoftheDeedofTrustandtheabsenceofany

LoanAgreement(RevisedJan,2023) 12
encumbrancesnototherwiseconstitutingaPermittedEncumbrance(assuchtermisdefinedintheDeedofTrust)orpermittedunderthetermsofthisAgreement,togetherwithsuchendorsement
Lendermayreasonablyrequire.
45.10.IfrequestedbyLender,BorrowershallprovideupdatesonitseffortstocomplywithapplicableFederalandlocalhiringandcontractingrequirements.
45.11.NoEventofDefault,noranyeventorstateoffacts,whichwithnotice
orpassageoftimeorbothwouldconstituteanEventofDefault,shallthenexistundertheLoan
Documents.
4.6.

cdtocomplywiththegeneralretainagerequirements
requiredby the Senior Lender and the ConstructionContract.

4.6.2. The LenderRetainageshallbe releasedinthefinal disbursementofLoan
proceedsuponsatisfactionoftheconditionsspecifiedinSection4.7,

4 Notwithstandingtheforegoing,Lender,initssolediscretion,mayreducetheoriginalLenderRetainageamountbyfiftypercent(50%)onlyaftertheFiftyPercent(50%)
CompletionMeetinghasbeenconductedtoLender’ssatisfactionandanyoutstandingcomplianceconcernshavebeenaddressedtoLender'ssatisfaction.
4.6.4.Lender'sdisbursementoftheLenderRetainageissubjectinallrespects
totherequirementssetforthinSections4.7and4.8.
4.7.Add |.Inadditiontoallother
conditionssetforthinthisSection4,Lender’sobligationtomakethefinaldisbursementoftheLoanproceeds,includingreleaseoftheLenderRetainage,shallbesubjecttoLender'sreceiptof
thefollowing:

4.7.1. Confirmationthatthefollowingmattershavebeenaddressedtothe
satisfactionoftheLender’sOfficeof Program Monitoring(“OPM”):
(1) AllcertifiedpayrollsrequiredbyDavis-BaconandtheRelatedActshavebeen submitted to Lender, and allsubcontractsdemonstrate compliance
withoutanyunresolvedwagevariancesorrestitution.
(2) Finalaccessibilityinspectionsforaccessibleunitsandcommonspaceshave
beenconductedbyOPM.
(3) AllrequiredSection3reportshavebeensubmittedandapprovedbyOPM.
(4) TherearenooutstandingcrosscuttingcomplianceviolationsforDistrict
externalagenciessuchasFirstSource,apprenticeship,minimumwageand
CertifiedBusinessEnterprises.
LoanAgreement(RevisedJan.2023) 13
4.7.2.UpdatedForm202,includingcomparisontotheProjectBudgetasofthe
ClosingDate.IfrequestedbyLender,satisfactoryChangeOrderandOtherContingencyUse
documentationmustalsobesubmitted.
4.7.3.DraftthirdpartycostcertificationsfortheProjectfromBorrowerand
Contractor.
4.7.4.Completionofa final,in-personsitevisitbyLender'sinspectortoconfirmallworkwascompletedinaccordancewithapprovedPlansandSpecifications.Final
approvaloftheProjectinaccordancewiththePlansandSpecifications,asbuilt,isrequired.

4.7.5. A completedandnotarizedContractor'sCertificateandReleaseForm
from Borrower.
4.7.6.FinalwaiversandreleasesofliensfromtheContractorandfirst-tier
subcontractorsandsuppliersthathavefurnishedlabor,material,orservicestoProject.Conditionallienreleasesareacceptableincaseswherependingpaymentswillbemadeuponreleaseofthe
LenderRetainage.
4.7.7.Theissuanceofa finalortemporarycertificateofoccupancyfortheintended,funded useof the Project.
4.78. Architect'sCertificateofSubstantialCompletion(AIAG-704)with
correspondingpunch-lists.
4.7.9. A letterofsatisfactionfrom the Architectand Borrower forsatisfactory
completion of the Project(the“SatisfactionLetter”).The SatisfactionLettershallaffirmthatthe
punch-listitemsassociatedwith theAIA G-704 have been satisfied,or adequate funds reasonably
necessarytopaythecostsofcompletionofremainingpunch-listitems,ifany,asdeterminedbythe Senior Lender,shallhave been escrowed inaccordancewith theSeniorLender’s requirements.
Inaddition,theSatisfactionLettershallconfirmthatcertifiedwarrantiesandrelateddocumentsrequiredbytheConstructionContracthavebeenprovidedbytheContractor.

4.7.10.Copiesofallpermittradeinspectionsign-offapprovals,including,butnotlimitedto,electrical,plumbing,mechanical,structuralandfiresafety.
4.7.11,DocumentationthattheProjecthasbeenregisteredon theHousing
LocatorWebsite(assuchterm isdefinedintheAffordableHousing Covenant).
4.7.12.EnterpriseGreenCommunitiesStep2 Certificationorcomparable
documentationacceptabletoLender.
4.7.13.— Receiptofthefinalas-builtPlansandSpecificationscertifiedbythe
Architectandengineerofrecord.
4.7.14.Receiptofanas-builtsurveyacceptabletoLender,unlesswaivedby
Lender.
LoanAgreement(RevisedJan.2023) 14
4.7.15.CopiesofsuchadditionalpermitsandlicensesforoperationoftheProject,including,butnotlimitedto,thebusinesslicenseforBorroweranditsmanagement
company,asmaybenecessaryorrequiredbyanAuthority.
4.7.16.Performanceof allotherobligationsof BorrowerundertheLoan
Documents.
4.7.17.ConfirmationthattheProjectiscurrentlycomplyingorhascomplied
withapplicableinitiallease-upincomecertificationandtenanteligibilityrequirementssetforthbyLender’sPortfolioandAssetManagementDivision.

4.8. FinalAdjustmenttoLoanAfterClosing
4.8.1.LenderandBorroweracknowledgeandagreethatLenderismakingtheLoantoprovidegapfinancingtoensurethecompletionoftheProjectand,therefore,atLender'sdiscretiontheLoanmaybereduced,orLendermayrequirerepaymentoftheLoan,asfollows:
(1) Onadollar($1.00)fordollar($1.00)basisforfundsthatwereusedforatemporarypurposetotheextentthatsuchfundsareorwillbesubsequentlyretumedtoBorrower(the“ReturnedFunds”).Suchfundsincludebutarenotlimitedto:refundeddeposits,financingfeesrequiredbyDistagencies,lenders,orotherparties,includingtheFreddieMacGoodFaithDepositandanyunusedfundsintheLeaseUpReserve.

(2) Onafiftycents($0.50)foreverydollar($1.00)basisforanyothernetreductionintotalcostsshownintheProjectBudgetduetounspent
contingencyfunds,unspentshort-termreservesorotherbudgetsavings(the“CostSavings”),unlesstheCostSavingsareutilizedtocoveran
unanticipateddecreaseinotherProjectsourcesasreflectedinanamendedProjectBudget.Theremainingfiftypercent(50%)ofCostSavingsshallbeappliedinaccordancewiththeSeniorLoanDocumentsorthetermsofthe
OperatingAgreement,asapplicable.
(3) Onafiftycents($0.50)foreverydollar($1.00)basisforanyincreaseinfundingthatiscommittedtotheProjectaftertheClosingDateoverandabovethefundingsourcesshowninthefinalProjectBudget,unlesstheincreaseinfundingisobtainedfromanon-LendersourcetocoveranunanticipatedincreaseinthecostsoftheProjectoradecreaseinothersourcesavailablefortheProjectasreflectedinanamendedProjectBudget(the“IncreasedSources”).Theremainingfiftypercent(50%)oftheIncreasedSourcesshallbeappliedinaccordancewiththeSeniorLoanDocumentsorthetermsoftheOperatingAgreement,asapplicable.

(4) BorrowershallcalculateanyReturnedFunds,CostSavings,andIncreasedSources (collectively,“Excess Proceeds”) and notifyLender of the
anticipatedloanreductionamount (the “DraftLoan Reduction
Calculation”)priortorequestingitsfinaldisbursementfromLenderbysubmittingadraftLoanReductionCertificate.IftheDraftLoanReduction

LoanAgreement(RevisedJan.2023) 15
CalculationislessthantheremainingLenderRetainage,LenderreservestherighttowithholddisbursinganequalportionoftheremainingLender
Retainage,unlessBorrowercandemonstratethatdoingsowouldresultinaconstruction/stabilizationperiodfundinggapfortheProject.IftheDraftLoanReductionCalculationexceedstheremainingLenderRetainage,
LenderreservestherighttowithholddisbursingallofitsremainingLoanproceeds,includingtheremainingLenderRetainage,unlessBorrowercandemonstratethatdoing so would resultina construction/stabilization
periodfundinggapfortheProject.

(5) BorrowershallupdatetheDraftLoanReductionCalculationbysubmitting
a revisedLoan ReductionCertificate(the“FinalLoan Reduction
Calculation”)withtheBorrower'srequestfora UnitedStatesDepartment
oftheTreasuryInternalRevenueServiceLow-IncomeHousingCredit
Allocationand Certification(Form 8609).

48.2. IftheFinalLoanReductionCalculationpursuanttothissectionexceeds
theremainingLenderRetainage,orifthefullamountofLenderRetainagehaspreviouslybeenreleased,thenetamountofExcessProceedsduetoLendertoreducetheLoanshallbepaidwithin

ninety(90)daysofissuanceoftheForm8609andthefinalexecutedLoanReductionCertificate
shallbedeliveredonthesameday.48.3. Notwithstandingtheforegoing,anyloanreductionunderthissectionthat
ismadeafterLoanClosingbutpriortofulldisbursementoftheLoanproceedsshallbesubjecttotheconsentandapprovaloftheSeniorLender,EquityInvestor,andotherfinancingparties,as
applicable,
4.9. Insufficiencyof Loan Proceeds.If atany time during the term of thisAgreement,
LenderdeterminesthattheremainingundisbursedLoanproceeds,inadditiontootherfundsavailabletotheProject,areinsufficientforanyreasontocompletetheProjectsubstantiallyin
accordancewiththePlansandSpecifications,Borrowershall,withinten(10)daysafterreceiptofNotice thereof(includinga statementof the basisforsuch insufficiency)from Lender,depositwith
Lenderoritsdesigneesuchsumsofmoneyincash(fromsourcesotherthantheLoan)as
reasonablyarerequiredtoeliminatetheinsufficiency.AnyamountsodepositedbyBorrowershallstandasadditionalsecurityforBorrower'sobligationsunderthisAgreement,andmaybedisbursedatLender'soptionbeforeanyfurtherLoandisbursementsaremadehereunder.

4.10.Authorized ursements.NotwithstandinganyothertermofthisSection4,
BorrowerherebyirrevocablyauthorizesLender,atLender'soptiontomakedisbursementsofLoanproceeds(i)jointlytoBorrower,Borrower'sconstructionmanagerandtoanycontractorormaterialmenfurnishinglabor,servicesormaterialsintheconstructionoftheProjectforanyamountsduetheminconnectiontherewith,or(ii)directlytoLenderforinterest,feesandanyotheramountsrequiredtobepaidtoLenderundertheNoteortheotherLoanDocuments.NofurtherauthorizationfromBorrowershallbenecessaryforLendertomakesuchdirectdisbursements,andallsuch disbursementsshallsatisfypro‘tantoLender'sobligationhereunderandshallbesecured
bytheDeedofTrust.

LoanAgreement(RevisedJan.2023) 16
4.11,DisbursementsNota Waiver.NodisbursementofanyLoanproceedsbyLender
shallconstituteawaiverofanyoftheconditionsfordisbursementcontainedinthisAgreement,oranobligationofLendertomakefurtherdisbursements.IfBorrowerisunabletosatisfyanysuch
condition,nosuchdisbursementshallhavetheeffectofprecludingLenderfromthereafter
declaringthatinabilitytobeanEventofDefault.

4.12.StoredMaterials.No disbursementswillbemadeformaterialsthatarenotphysicallyincorporatedintotheProject,otherthanformaterialsactuallydeliveredtotheProject
siteoroff-site,andstoredinaplace,securedandinsuredagainsttheft,vandalismandother
damage,allinamannersatisfactorytoLender.

4.13.NoEscrow.AnyandallLoanproceedsdisbursedtoBorrowerinaccordancewiththisAgreementmustbeplacedina non-interestbearingaccountandmustbeexpendedin
accordancewithSection4.InnoeventshallBorrowerescrowtheLoanproceeds,

Section5. RepresentationsandWarranties,BorrowerrepresentsandwarrantstoLenderasof the date hereof,and shallbe deemed to representand warrant as of the date itsubmits any
disbursementrequesttoLenderhereunder,that:

5.1.Status.BorrowerisaPersoningoodstandingunderthelawsofthe Districtof
Columbia,AllrepresentationsandwarrantiesmadebyBorrowerintheotherLoanDocumentsare
true,completeandcorrectwhenmade.
5.2.Authority.BorrowerhasthepowerandauthoritytoenterintoandexecuteanddeliverthisAgreementandeachotherLoanDocumentexecutedanddeliveredbyit,andtoincurandperformtheobligationsprovidedforhereinandtherein(includingborrowingandguaranteeingtheLoan,asapplicable),allofwhichhavebeendulyauthorizedbyallproperandnecessaryactionandallmaterialgovernmentallicenses,authorizations,consentsandapprovalsrequired.NoconsentorapprovalofanyotherPersonorAuthorityisrequiredasaconditiontothevalidityorenforceabilityofthisAgreementoranyofsuchotherLoanDocuments,orifrequiredithasbeen
obtained.
5.3.NoConflictingAgreements,Thereis(a)noprovisionofanyexistingmortgage,pledge,lien,securityinterest,charge,encumbrance,contractoragreementbindingonBorroweroraffectingitspropertynoranyjudgment,decree,ororderofcourtbindingonBorrower,and(b)tothebestknowledgeofBorrower,nolaw,statute,ruleorregulationbindingonBorroweroraffectinganyofitsproperty,whichwouldconflictwithorinanywaypreventtheexecution,deliveryorperformanceofthetermsofthisAgreementorofanyotherLoanDocumentexecutedanddeliveredbyBorrower,orwhichwouldbeindefaultorviolatedasaresultofthatexecution,deliveryorperformance,
5.4.Litigation.Thereisno litigation,proceedingorinvestigation,pendingorthreatenedinwriting,whichmayresultinanymaterialandadversechangeinthefinancialcondition,assets,liabilities,businessorprospectsofBorrower,andBorrowerdoesnotknowof,anybasisforanysuchlitigation,proceedingorinvestigation.

5.5. Financial Information. All financialinformationheretoforefurnishedto Lender
concerningBorroweriscompleteandcorrectin allmaterialrespects,andfairlypresents

LoanAgreement(RevisedJan.2023) 7
Borrower'sfinancialpositionasofthedatethereof.Therearenoliabilities,directorindirect,fixedorcontingent,ofwhichBorrowerisawareexceptasreflectedtherein.Therehasbeennomaterialadverse change inBorrower's financialconditionor operationssincethe datesof those financial
information(andtoBorrower'sknowledge,nosuchmaterialadversechangeispendingorthreatened),andBorrowerhasnotguaranteedtheobligationsof,ormadeanyinvestmentinoradvancesto,anyPersonexceptasdisclosedinsuchinformation.Borrowerhasgoodandmarketabletitletoallofitspropertiesandassets,freeandclearofencumbrances(otherthanthePermittedEncumbrancesorotherwiseaspermittedby Lender),exceptasreflectedinthat
information.
5.6.Receivership.TherearenoactionsorproceedingspendingorthreatenedagainstBorrower,tothebestofBorrower'sactualknowledge,toliquidateorreorganizeitorplaceitinto
receivership.

5.7.TaxReturns.Borrowerhasfiledorcausedtobefiledall(ifany)requiredFederal,stateandlocaltaxreturns,andpaidalltaxesshownonthereturnsassuchtaxeshavebecomedue.Noclaimshavebeenassessedandareunpaidwithrespecttosuchtaxes,exceptasshowninthe
financialinformationreferredtoabove.
5.8.LiensonProperty.Thereexistsnomortgage,pledge,lien,securityinterest,chargeorotherencumbrances(exceptaspermittedbyLender)onorwithrespecttotheProperty.
5.9.Utilities.AllutilityservicesnecessaryfortheconstructionandoperationoftheProjectforitsintendedpurposesareorwillbeavailableattheboundariesoftheProperty,includingwatersupplyofsufficientquantityandpressure,stormandsanitarysewerfacilitiesofadequatecapacities,gas,electricandtelephonefacilities.Borrowerhasprocured,orherebyagreestouseitsbesteffortstoprocure,fromtheDistrictofColumbia,andotherauthoritiesandcorporations,connectionanddischargearrangementsforthesupplyofwater,gas,electricityandotherutandsewageandindustrialwastedisposalfortheoperationoftheProject.

5.10.Roads.AllroadsnecessaryforthefulluseoftheProjectforitsintendedpurposeshaveeitherbeencompletedorthenecessaryrightsofwaythereforhaveeitherbeenacquiredbyBorrowerortheappropriateAuthorityorhavebeendedicatedtopublicuseandacceptedbysuchAuthorityorwillbesoacquiredordedicatedwithinaperiodoftimesatisfactorytoLender,andallnecessarystepshavebeentakenby BorrowerandsuchAuthoritytoassurethecomplete
constructionandinstallationthereofinaccordancewithlawandallapplicablegovernmentalrequirements.
5.11,ZoningandLandUse.TheProject,andtheuseoftheProjectforitsintendeduse,willnotviolateanyzoningorotherordinance,regulationorlaw,restrictivecovenantoragreementofBorrower(eithernowinexistenceorknownbyBorrowertobeproposed)applicabletotheProperty,theProjectoritsuse,andallrequirementsforsuchusehavebeensatisfied.Borrowershallnotinitiate,joinin,orconsenttoanychangeinanyrestrictivecovenant,easement,zoningordinanceorotherpublicorprivaterestrictionlimitingordefiningtheuseswhichmaybemade
oftheProperty,theProjectoranypartthereof.
LoanAgreement(RevisedJan.2023) 18
5.12,CostBreakdown.Thecostbreakdown(intradebreakdownform)fortheProject
suppliedtoLenderiscompleteandaccurateasofthedatehereof,basedonallinformationnowavailabletoBorrower,andBorrowerhasnoknowledgeofanymaterialchangeintheamount
shownthereonwhichislikelytooccur.

5.13. OFAC Borrower, and tothebestof Borrower'sknowledge afterhaving made
diligentinquiry,andallpersonsorentitiesowninganinterestinBorrower(i)arenotcurrentlyidentifiedon the United StatesOffice of ForeignAssets Control(“OFAC”) List,and (ii)are not
personsorentitieswithwhoma citizenoftheUnitedStatesisprohibitedtoengageintransactionsbyanytradeembargo,economicsanction,orotherprohibitionofUnitedStateslaw,regulation,or
ExecutiveOrderofthePresidentoftheUnitedStates.TheOFACListcurrentlyisaccessiblethroughtheinternetwebsitehttp://www.treas.gov/offices/eotffe/ofac/sdn/t]Isdn.pdf.

Section6. Covenants.Borrowercovenantsandagreesthat,aslongasanypartoftheLoan
remainsunpaid,Borrowerwill:

6.1.ConstructionofProject.CausetheProjecttobecompletedsubstantiallyin
accordancewiththefinalPlansandSpecificationsonorbeforetheCompletionDate,freeandclearofallliensotherthantheDeedofTrustandthePermittedEncumbrances.Borrowershallnot
permitanymaterialchangesinthePlansandSpecificationswithoutthepriorwrittenconsentofLenderandallauthoritiestowhomsuchPlansandSpecificationsarerequiredtobesubmitted.

6.2.Insurance.AtalltimesduringthetermofthisAgreement,Borrowerwillmaintain
atitssolecostandexpense,forthemutualbenefitofBorrowerandLender,alloftheinsurancespecifiedinExhibitH,andwillnotpermitanyconditiontoexistonthePropertythatwould
invalidateanypartofanyinsurancecoveragerequiredunderthisAgreement.

6.3. Accounting/Audit Requirements. Maintain complete and accuraterecordsand
documentationof all costsincurredunder the Loan in accordance with the instructionsof Lender
andorganizedinamannerthatidentifiescostcategoriesintheitemizedbudget.

6.4. Inspection. Permit Lender, itsagents and Lender's inspectorto enter on the
Propertyatallreasonabletimesandasoftenasmaybereasonablyrequested,toinspecttheProjectandallmaterialstobeusedinconnectionwiththeconstructionthereof,andtoexaminealldetailedplansanddrawingswhichareormaybekeptattheconstructionsiteandaccesstothebooks,recordsandsuchotherdocumentsofBorrowerasLendershallreasonablyrequiretoinspect,auditandexaminethesameandtomakeextractstherefromandtomakecopiesthereof.Furthermore,throughouttheLoanTerm,BorrowermustbepreparedforandfacilitatemonitoringbyLenderin
compliancewithFederalandDistrictrequirements,including,butnotlimitedto,thefollowing:creating,storingandmaintainingallProjectrecordsinaccordancewithLender'srequirements;
permittingdeskmonitoring,sitevisits,andaudits;andpermittingallinspectionsoftheProjectrecordsasLenderdeemsnecessarytoensuretheupkeepandoperationoftheProjectincompliancewith Districtand Federallaws.

6.5. MaintenanceandRepair.KeepandmaintaintheProjectandeachpartthereofin
goodcondition,workingorderandrepair,makeallnecessaryorappropriaterepairs,replacementsandrenewalstheretosothateachpartthereofisatalltimesingoodcondition,fitandproperfor

LoanAgreement(RevisedJan.2023) 19
therespectivepurposesforwhichitwasoriginallyintended,erected,orinstalled,andtoensurethatthesecurityfortheLoanisnotimpaired,andmakeallnecessaryorappropriatedepositstoa
replacementreservefortheProjectasmayberequiredbySeniorLender.
6.6. Obstructions.Useitsreasonableeffortstokeepandmaintainallpartsofthe
Projectandthesidewalks,curbsandpassagewaysadjoiningitinacleanandorderlycondition,freeofdirt,rubbish,snow,iceandunlawfulobstructions.

6.7.Permits,Licenses.Procureorcausetobeprocured,anyandallnecessarypermits,certificates,licensesorotherauthorizationsrequiredforuseoftheProjectasrentalhousing,andcomplywithallconditionsandrequirementsnecessarytopreserveandextendallrights,licenses,permits,privileges,franchisesandconcessionsnoworhereafterapplicabletotheProject.
6.8. StructuralInjury,Nuisance,Wasteand OtherProhibitedUses.Notuseor
occupy theProjector permitittobe usedoroccupiedinany manner which would causestructural
injurytotheProject,causethevalueortheusefulnessoftheProjectoranypartthereoftodiminish(ordinarywearandtearexcepted),orconstituteapublicorprivatenuisance,orwaste.
6.9.CompliancewithLaws.NotuseoroccupytheProjectorknowinglypermititto
beusedoroccupiedcontrarytoanyuniformlyapplicablelawsaffectingtheProjectandtheoccupancy,operationorusethereof,whetherornotanysuchlawswhichmaybehereafterenacted
volveachangeofpolicybytheAuthorityenactingthem.

6.10.Reporting.
6.10.1.AuditedFinancialStatements one-hundredtwenty(120)days
aftertheendofeachFiscalYear,theauditedbalancesheetofBorrowerforsuchyear,andtherelatedauditedstatementsofincome,retainedearningsandcashflowsforsuchyear,eachsetting
forthincomparativeformthefiguresforthepreviousFiscalYear,inreasonabledetailandallpreparedinaccordancewithgenerallyacceptedaccountingprinciples,consistentlyapplied,
applicableOfficeofManagementandBudgetguidelines,andanyotherapplicableFederalorDistrictauditrequirements,withoutqualification,byanindependentcertifiedpublicaccountant
acceptabletoLender.

6.10.2.SupplementalAnnualSubmission.Togetherwiththeauditedfinancial
statement,BorrowershallsubmitthefollowinginformationfortheProject:
(1) EvidenceofcommercialpropertyinsurancewithLenderlistedasanadditionalinsured;
surancewithLender listedas an additional

(2) Evidenceofliabilitypropertyinsureds
(3) Copyofreserveaccountstatements,ifapplicable;
(4) Evidenceofpaymentofrealestatepropertytaxes;
(5) Copyofcurrentbusinesslicense;
LoanAgreement(RevisedJan.2023) 20

(6) Projectoperatingstatements;
(7) Annual Owner Certification;and
(8) NetCashFlowCalculationWorksheet.
6.10.3. Tax Returns. Within thirty(30)daysof the applicablerequiredannual
filingdate,includinganystandardextensionsforwhichBorrowermayhavevalidlyfiledandcopiesofwhichareprovidedtoLender,completecopiesofallFederalandstatetaxorinformationreturnsof Borrower (includingform K-Is and allschedules),certifiedas trueand correctby the
principalfinancialoraccountingofficerofBorrower.

6.10.4,InternalFinancialStatements.Uponthirty(30)days’priorwritten
requestfromLender,Borrower'sinternalconsolidatedfinancialstatementsfortheprecedingfinancialquarterpreparedbyBorrowerandcertifiedbyBorrower'sprincipalfinancialor
accountingofficer,includinga statementofactivities,astatementoffinancialposition,astatementofcashflow,abreak-downofgrossleaserevenues,andduringconstruction,areconciliationof
expenditurespaidwithLoanproceeds.

6.10.5,AffordableHousing.Uponthirty(30)days’priorwrittenrequestfrom
Lender,(i)anyinformationabouttheleasingandoccupancyof theAffordableUnits,includingarentrollfortheProject,summarizingthetermsofallresidentialleasesandtheHouseholdincomesofthetenants,asoftheendofDecemberoftheprioryearnolaterthanMarch1ofeachyear,or
morefrequentlyasreasonablyrequestedbyLender;and(ii)anyotherinformationthatmaybe
requiredtomeetDistrictand/orFederalreportingrequirements,includingbutnotlimitedto,informationonhouseholdsize,age,income,sex,andraceorethnicityofalloccupantswhoreside
inAffordableUnits.
6.10.6. Additional Financial Information. Upon thirty(30)days” priorwritten
requestfromLender,anyadditionalinformationnecessarytoevaluatethefinancialpositionoftheProject,asreasonablydeterminedbyLender.
6.10.7.OngoingProjectUpdates.Uponfive(5)days’priorwrittenrequest
fromLender,provideLenderwithregularProjectupdates.
6.11,RecordsandRetention.Keepandmaintainatalltimescompleteandaccuratebooksofaccountandrecords(includingcopiesofsupportingbillsandinvoices)adequatetoreflect
correctlytheoperationoftheProjectorthePropertyandtheuseoftheLoanproceedsandcopiesofallwrittencontracts,leases,andotherinstrumentswhichaffecttheProjectortheProperty.Keep
recordsforaperiodoffive(5)yearsfromthedatethatsuchrecordsaregenerated.Ifanylitigation,claimoraudithasbegunbeforetheexpirationofthe5-yearretentionperiod,therecordsshallbe
retainednolessthanfive(5)yearsafteralllitigation,claims,auditsormonitoringfindings
involvingtherecordshavebeenresolvedandfinalactiontaken.

6.12,PaymentofObligations.Payanddischargeatorbeforematurityallitsmaterialobligationsand liabilities,includingtaxliabilities,theexpensesofthe Project,and claims forlabor,
materials,andsuppliesthat,ifunpaid,mightbecomeliensonthepropertyofBorrower,exceptthosebeingcontestedingoodfaithbyappropriateproceedings.
LoanAgreement(RevisedJan.2023) 21
6.13. es.PromptlygiveNoticetoLenderof(i)alllitigationaffectingBorrower,the
Property,oranyportionoftheProject,and(ji)allcomplaintsandchargesmadebyanyAuthorityhavingjurisdictionovertheProjectwhichmaymateriallydelayorrequirematerialchangesintheconstructionoftheProjectorotherwiseimpairthesecurityofLender.

6.14,FurtherAssurances.OnrequestbyLender,doanyactorexecuteanyadditionaldocuments(includingsecurityagreementsandfinancingstatementsonanypersonaltyownedby
BorrowerandincludedortobeincludedintheProject)reasonablyrequiredbyLendertoconfirmthelienandsecurityinterestoftheDeedofTrust,oranyothercollateraldocument.
6.15. Fees of Lender’sAgents.Pay Attorneys’Feesand Costsand thereasonablefees
of Lender’sagents,if any,inconnectionwiththeProjectortheLoan.

6.16.PerformanceofOtherAgreements.Jointlyandseverally,dulyandtimelyperformandobserveallcovenants,agreementsandconditionsonitsparttobeperformedor
observedinallmaterialrespects.
6.17.AcknowledgementofLenderFinancing.

(a) AllowLenderto,orasreasonablyapprovedbyLender,placesuitablesignage
indicatingthattheProjectisbeingdevelopedwithfinancialassistanceprovidedbyLenderinsuchmannerasLendermayelect.AnysuchsignshallbeprovidedattheexpenseofLender;provided,
however,thatifLenderprovidesasigntoBorrower,thenBorroweragreestoprovideaprominentandsuitablelocationofthedisplayofthesignandtomaintainthedisplayofsuchsignforthedurationofdevelopmentoruntiltheLoanhasbeenfullysatisfied,whichevereventshalloccur
first.

(b) EnsurethatallwrittenorprintedmaterialsdistributedorpostedbyBorrower,which
publicizetheProject,shallincludeinformationthattheProjectisbeingfunded,partiallyorfully,throughLender.Further,announcementofalleventsthatpublicizetheProjectshallacknowledge
fundingby Lender.Thismay include,butisnotlimitedto,socialmedia,newspaperannouncementsoradvertisements,flyers,postings,anyradioandtelevisionannouncements.

6.18. Property Management. At alltimesduring thetermof this Agreement, Borrower
shallenterintoamanagementcontractwithaDistrictlicensedprofessionalmanagementcompany
fortheProject,cancelableonsixty(60)days”notice,andotherwiseinformandsubstancesatisfactoryto Lender in itsreasonablejudgment. Borrower shallnotifyLender at leastsixty(60)
daysinadvanceofanychangeinmanagementandshallprovideLenderwitha copyofthe
proposedmanagementagreementforLender’sreviewandapprovalpriortoBorrower'sexecutionthereof.Suchapprovalshallnotbeunreasonablywithheld,conditionedordelayed.Theproposedsuccessormanagershallbe a managementcompany,ingoodstandingwiththeDistrictof
Columbia,andexperiencedinmanagingpropertiesofasimilartypeandsizeastheProject.Theproposedsuccessormanagershalldeliverallorganizationaldocumentsandotherdocuments,upontherequestofLender,regardingthemanager’ssuitabilitytomanagetheProject.Any successor
managementcontractenteredintobyBorrowershallbeapprovedbyLender,suchapprovalshallnotbeunreasonablywithheld,conditionedordelayedandshallprovidethatitshallbesubjecttotermination,withoutpenalty,uponwrittenrequestbyLender,addressedtoBorrowerifthe
LoanAgreement(RevisedJan,2023) 22
propertymanagerfails,afterbeingprovidedfundsthereforefromBorrower,totakeactiontocureanymaterialdefaultunderthepropertymanagementcontractwithinsixty(60)days’noticethereofby Lenderwitha copytoBorrower.Intheeventofanemergencysituation,thesixty(60)day
noticeperiodshallbeshortened,atLender’sreasonablediscretion.Uponreceiptofa requesttoterminatethemanager,Borrowershallterminatethemanagementcontractnolaterthansixty(60)daysfromthedateofthenotice,providedthat(i)Lenderhasapprovedofa newmanagerandmanagementcontract,(i)thechangewillnotresultintheProjectbeingwithoutamanagerforanyperiod of time,and (iii)Borrower has receivedthe priorwrittenconsentof the Senior Lender.

6.19.AffordabilityCovenants.
(a) ComplyinallrespectswiththeAffordableHousingCovenantandrentandmaintaintheAffordableUnitsinaccordancewiththeAffordableHousingCovenant.
(b) Maintainaccuraterecordsofthetenanthouseholdincomesandrentlevelseach
timethatanAffordableUnitisrented,andrentrollsupdatedonamonthlybasis,andavailableforinspectionbyLenderwithinten(10)daysofLender’srequesttherefore.

(©) RegisteranyavailableAffordableUnitwiththeHousingLocatorweb:establishedpursuanttotheAffordableHousingClearinghouseDirectoryActof2008,D.C.Law
17-215,D.C,OfficialCode§42-2131efseq.andshallactivelyseektomarketvacantunitstohouseholdsreferredbytheDistrictofColumbiaHousingAuthorityasrequiredintheProgram
Requirements.As of thedateof thisAgreement,theHousingLocatorwebsiteis
www.DCHousingSearch.org.
6.20.HazardousMaterialsIndemnity.
(a) ComplywithallgovernmentalrequirementsapplicabletoHazardousMaterials(includingleadpaint)andotherenvironmental,health,fireandsafetylawsorregulations,
including,butnotlimitedto,theOccupationalHealthandSafetyActandAmericansWith
DisabilitiesAct;

(b) NotifyLenderofanynoticereceivedbyBorrowerofanyleak,spillorotherreleaseofHazardousMaterialsorofanyviolationofanyenvironmental,health,fireorsafetylawsorregulationswithrespecttotheProjectorthePropertyinwhicheventLendershallbeallowedarightofentry(includingtherighttoconducttestsandtakesamplesfromtheProjectortheProperty)andmay,butshallnotberequiredto,remediatetheproblemifBorrowerdoesnotpromptlyinitiateanddiligentlypursuesuchremediation;
(©) IfunlawfulHazardousMaterialsaredeterminedtobelocatedattheProjectoronthePropertyoranotherenvironmental,health,fireorsafetylaworregulationhasbeenviolatedandsuchviolationhasbeencausedbyBorroweroritsagents,provideLenderwithabondorletterofcredit,orsimilarfinancialassurance,satisfactorytoLender,inanamountsufficienttocoverthecostofanycleanuporofremediationoftheviolation,asthecasemaybe;and

(4) IndemnifyandforeverholdLenderharmlessfromanyloss,claim,damageorliabilityarisingoutof,orinconnectionwith,theunlawfulpresenceattheProjectoronthePropertyof,orcontaminationby,anyHazardousMaterialsortheviolationofenvironmental,health,fireor
LoanAgreement(RevisedJan.2023) 23

safetylawsorregulationsifsuchloss,claim,damageorliabilitywascausedbyBorroweroritsagentsandhasoccurredsinceBorrowertooktitletotheProperty;provided,however,BorrowershallhavenoliabilitytotheextentanylossarisesasaresultofthegrossnegligenceorwillfulmisconductofLender.ThisindemnificationshallsurviverepaymentoftheLoan,
(€) Further,BorrowershallpayLender,upondemand,forallcostsreasonablyincurred
byLenderinconnectionwithinspectingtheProjectorthePropertywithrespecttoHazardousMaterials,whichLendermaydoatanytimeandfromtimetotime,and/orinconnectionwith
reviewinganyHazardousMaterial,environmental,health,fireorrelatedsafetyreports,includingAttorneys’FeesandCosts,engineeringfeesandotherfeesandexpensesifsuchcostsareincurred
asaresultofactionscausedbyBorroweroritsagentsafterthedateBorrowertakestitletothe
Property.
Section7. Default;Remedies.
7.1. Defaults,An“EyentofDefault”shallbedeemedtohaveoccurredunderthisAgreementontheoccurrenceofanyoneormoreofthefollowingevents,andremainsuncured
aftertheNoticeandcureperiodsprovidedinSection7.1.3below:
7.1. Any representationorwarrantymadehereinoranystatementor
representationmadeinanycertificate,reportoropinion(includinglegalopinions),financialstatementorotherinstrumentfurnishedinconnectionwiththisAgreement(includingrequests),
anyapplicationmaterialsfortheLoan,oranyoftheotherLoanDocuments,provestohavebeenincorrectinanymaterialrespectwhenmade;or

7.1.2.Borrowerfailstopay,withinten(10)daysafterthedateonwhich
dueandpayable(a)theprincipalof,premium,ifany,orinterestoranyotherchargesorsumsonorundertheNote(whetheronmaturity,onanyinstallmentdate,afteracceleration,afternoticeof
prepayment,orotherwise),or(b)anyotherpaymentrequiredbythisAgreementoranyoftheotherLoanDocumentstobepaidbyBorrower,including,butnotlimitedto,anypaymentsdueto
LenderinaccordancewiththeFinalLoanReductionCalculation;or
7 Borrowerfailstodulyandpromptlyperform,complywithorobserveanyoftheterms,covenants,conditionsoragreementscontainedhereinorintheProgramRequirements,otherthanpertainingtoinsurancerequirementshereinforwhichthereshallbenosuchcureperiod,whichdefaultremainsunremediedforthirty(30)days(orsuchothercureperiodasmaybespecifiedherein)afterNoticetothenon-performingentitythereof,exceptthatifthedefaultissuchthatitcannotbecorrectedwithinthirty(30)days(oranyothercureperiodspecifiedherein),itshallnotbeanEventofDefaultif,intheopinionofLenderreasonablyexercised,thenon-performingentityistakingappropriatecorrectiveactiontocurethedefaultandthedefaultwillnot,inLender’ssolejudgment,impairthesecurityfortheLoan;or

1 AnActofBankruptcyoccurswithrespecttoBorroweroranyotherguarantoroftheLoan;orBorrowerbecomesgenerallyunabletopayitsdebtsastheybecomedue;
or

7.1.5. An EventofDefaultoccursunderanyotherLoanDocument;or
LoanAgreement(RevisedJan.2023) 24
7A Anymechanic’lienisestablishedagainsttheProjectandnotdischarged
orbondedagainstbyBorrowerwithinthirty(30)daysafteritreceivesnoticeoftheestablishment
thereof;or

BorrowerfailstocomplywithanyrequirementofanyAuthorityhavingjurisdictionthirty(30)daysaftertheAuthoritygivesitwrittennoticeoftherequirement;orifanyproceedingisbegunoractiontakentoenforceanyremedyforaviolationofanyrequirementoftheAuthorityoranyrestrictivecovenantaffectingtheProperty.

7.2. RemediesofLenderonEventofDefault,WheneveranyEventofDefaultreferredtoinsubsection7.1hasoccurred,Lendermayrefusetodisburseanyamountshereunder,accelerate
thepaymentsdueontheNoteanddeclareallotherofBorrower'sobligationstobe immediatelydueandpayable,bringsuitontheNote,andtakesuchotheractionsagainstBorrowerasLender
maydeemtobeappropriate,aspermittedbylaw.Inaddition,Lender,initssolediscretion,maytakeanyoneormoreofthefollowingremedialsteps:

7. Acceleration,DeclaretheunpaidprincipaloftheNoteandallinterestaccruedthereon,togetherwithallothermoneyspayablehereunder,tobeimmediatelydueandpayable,bynoticeinwritingtothateffectdeliveredtoBorrower,andonsuchdeclaration,allsuchmoneysshallbecomeimmediatelydueandpayable,withoutprotest,presentment,furthernoticeordemand,allofwhichareexpresslywaivedbyBorrower,attheplaceofpaymentprovidedinsuchnotice,anythinginthisAgreementorintheNotetothecontrarynotwithstanding.
7.2.2,LegalAction,Bymandamusorothersuit,actionorproceedingatlaworinequity,enforceallrightsofLender,andrequireBorrowertocarryoutanyagreementwithorforthebenefitofLender,andtoperformitsdutiesunderthisAgreement,theDeedofTrust,andtheotherLoanDocuments;and/or
(1) BringsuitontheNote;and/or
(2) Byaetionorsuitinequityenjoinanyactsorthingswhichmaybeunlawfulor inviolationof the rightsof Lender;and/or
(3) Takewhateveractionatlaworinequityappearsnecessaryordesirabletocollectthepaymentsandotheramountsthendueandthereaftertobecomedueortoenforceperformanceandobservanceofanyobligation,agreementorcovenantofBorroweroranyotherPersonunderthisAgreementorany
otherLoanDocument.
7.2.3.BooksandRecords.Haveaccesstoandinspect,examineandmakecopiesofthebooksandrecordsandanyandallaccountsand similardataofBorrower.

7.24.— ProtectionofProperty.Withoutresorttojudicialprocess,takesuchstepsasitdeemsappropriatetoprotecttheProjectorthePropertyfromdepredationorinjury,includingemploymentofwatchmenorotherprotectiveservices,andBorrowershallpayanyexpensesincurredbyLenderintakingsuchsteps.
‘LoanAgreement(RevisedJan.2023) 25

7. Completion of Project.Lender shallhave no obligationto disburseany
portionofthe undisbursedproceedsofthe LoantoBorrower.LendermayentertheProjectorthe
PropertyforthepurposeofcausingBorrower'sobligationshereundertobefulfilled,andforsuchpurposesBorrowerherebyappointsLenderasitslawfulattorney-in-fact,withfullpowerofdelegationandsubstitution,toactforsuchpurposeinitsname,totakeanyorallofthefollowingactions:
(1) ContinuetheProject;and/or
(2) Availitselfandprocureperformanceofallcontractstheretoforemadeby
Borrower;and/or
(3) Modifysuchcontracts,ortoenterintonewcontractswiththesameorothercontractors,architects,suppliersoragents;and/or
(4) Pay,settleorcompromiseanybills,claimsorliensincurredinconnectionwiththecompletionoftheProject;and/or
(8) Prosecuteordefendanyactionorproceedinginconnectiontherewith,toexecutesuchapplicationsand certificatesas may be requiredby
governmentalauthorityoranyagreementbyBorrower;and/or
(6) Performanyotheractandexecuteanddeliveralldocumentsandinstrumentsasmaybeappropriateforsuchpurposes;and/or
(7) Useanyfundsnotyetdisbursedhereunderorotherwiseallocatedormadeavailabletherefortopaythecostthereof,itbeingspecificallyagreedthatthispowerofattorneyisapowercoupledwithaninterestwhichcannotbe
revoked.
Anydisbursementoffundsforsuchpurposesshallbedeemeddisbursementspursuanttothis
AgreementandevidencedbytheNote.Inaddition,ifitisnecessaryforLendertodisburseanyamountsinordertoaccomplishsuchpurposes,BorrowershallreimburseLenderfortheamountofsuchexcess,withinterestthereonasprovidedinSection8,andauthorizeLendertoapplyfundsreceivedfromthesaleorrentalofanyportionsoftheProjecttotherepaymentofsuchexcessbeforethesameareappliedforanyotherpurpose.AnyactiontakenbyLenderhereundermay,inthesolediscretionofLender,bethereafterterminatedorchanged,andthisAgreementoranyactiontakenhereundershallinnowaybeconstruedasimposinganyobligationonLendertoactorcontinuetoactonthebehalfofBorrowerorotherwisetocompletetheProjectorfulfillanyobligationofBorrowerinconnectionwiththeProject.

7.2.6. Possession of Project.Take possessionof the Projectand have, hold,
manage,leaseandoperateitonsuchtermsandforsuchperiodoftimeasLenderdeemsproper;andcollectandreceiveallrents,incomeandprofitsoftheProject,withorwithouttakingpossessionoftheProject,withfullpowertomakefromtimetotimeallalterations,renovations,repairsorreplacementstheretoasseempropertoLender,andtoapplysuchrents,incomeandprofitstothepaymentof:
LoanAgreement(RevisedJan.2023) 26
(1) Thecostofsuchalterations,renovations,repairsandreplacementsandexpensesincidenttothetakingandretainingpossessionofthe Projectand
themanagementandoperationthereofandkeepingthesameproperlyinsured,and

(2) AlltaxesandanyotherencumbranceswhichmaybepriorinlienorpaymenttotheobligationsofBorrowerhereunder,and
(3) TheobligationsofBorrowerhereunder,togetherwithallcostsandAttorneys”FeesandCosts,insuchorderofpriorityastoanyofsuchitemsasLenderinitssolediscretionmaydetermine,anylaw,customorusetothecontrarynotwithstanding.

RepossessionofCollateral.ProceedundertheDistrictofColumbia
UniformCommercialCodeastoalloranypartofthecollateral,andinconjunctiontherewithexerciseallrights,remediesandpowersofasecuredpartyundertheDistrictofColumbiaUniformCommercialCodeasthenineffectintheDistrictofColumbia(“UCC”),includingtaking
possessionofthecollateralpursuanttoSection9-503oftheUCCwithoutresorttojudicialprocess.IfanEventofDefaultoccurs,Borrowershallassembleallofthecollateral,andmakeitavailable
attheProperty.AnynoticerequiredbySection9-504oftheUCCshallbedeemedreasonablyandproperlygivenifgiveninthemannerspecifiedforotherNoticesunderthisAgreement,atleast
fifteen(15)daysbeforeanysaleorotherdispositionofthecollateral.Dispositionofthecollateralshallbedeemedcommerciallyreasonableifmadepursuanttoapublicofferingadvertisedatleast
twiceinanewspaperofgeneralcirculationinthecommunitywherethecollateralislocated.

7.2.8. Foreclosure.DeclareadefaultundertheLoanDocumentsandexercise
itsrightsof foreclosureand otherremediesavailableundertheDeedof Trust.
7.3. No RemedyExclusive;DelaysorOmissions;WaiverofBreach.No actiontaken
pursuanttothisSection7 shallrelieveBorrowerfrom itsobligationshereunderorunderany other
LoanDocument,allofwhichshallsurviveanysuchaction,andLender(totheextentprovidedabove)maytakewhateveractionatlaworinequityappearsnecessaryanddesirabletocollectthe
paymentsandotheramountsthendue,andthereaftertobecomedueand/ortoenforcetheperformanceandobservanceofanyobligation,agreementorcovenantofBorrowerhereunderor
ofanyotherPersonunderanyLoanDocument,
No remedy hereinconferredon or reservedtoLenderis intendedtobe exclusiveof
anyotheravailableremedyorremedies,buteachsuchremedyshallbecumulativeandshallbeinadditiontoeachotherremedygivenunderthisAgreementortheotherLoanDocumentsornoworhereafterexistingatlaworinequity.Ifanyrightorremedygrantedhereinisheldtobeunlawful,LendershallbeentitledtoeachotherrightandremedyprovidedinthisAgreementandbylaworinequity.No delayoromissioninexercisinganyrightorpoweraccruingonanydefault,omission
orfailureofperformancehereunderorundertheLoanDocumentsshallimpairanysuchrightorpowerorbeconstruedtobeawaiverthereof,butanysuchrightandpowermaybeexercisedfromtimetotimeandasoftenasisdeemedexpedient.IfanytermofthisAgreementisbreachedbyBorrower and isthereafterwaived by Lender,thatwaiver shallbe limitedtothe particularbreach
sowaived,andshallnotbedeemedtowaiveanyotherbreach.Nowaiver,amendment,releaseor

LoanAgreement(RevisedJan,2023) 7
modificationofthisAgreementshallbeestablishedbyconduct,customorcourseofdealing,butsolelybyadocumentsignedbyLender.InordertoentitleLendertoexerciseanyremedyreserved
toitinthisSection,itshallnotbenecessarytogiveanynotice,otherthananynoticebeherein
expresslyrequired
Section8, Additional_Local_andFederalRequirementsApplicabletoBorrower.InadditiontotheProgramRequirements,BorrowershallfullycomplywiththefollowingFederal
andDistrictrequirementsastheymaybeapplicabletoBorrower,theProjectortheProperty,includingimplementationofsuchrequirementsthroughhandbooks,guidesandnotices,andallfutureupdates,changesandamendmentstheretoapplicabletoBorrower,theProjectortheProperty,astheybecomeeffective:

(a) Compliancewit
Plan)—Mayor'sOrder1985-85;
EqualOpportunityObligationsinContracts(AffirmativeAction
(b) CertifiedBusinessEnterpriseRequirements~ D.C.OfficialCode§2-218.46er
seq
(c) D.C.HumanRightsActof1977—D.C.OfficialCode§2-1401.1etseq.;
(d) FairCriminalRecord ScreeningforHousing Act of 2016 — D.C. OfficialCode
§ 42-3541.01etseq.;

(©) FirstSourceProgram—D.C.OfficialCode§2-219.01etseq.;
(f) FreedomofInformationAct—D.C.OfficialCode§2-531erseq.;
(g)__InclusionaryZoningImplementationActof2006—_D.C.OfficialCode§6-1041.01
et seq.;
(h) RelocationAssistance— 10BDCMR Chapter22;
(i) RentalHousingActof1985—D.C.OfficialCode§42-3501.01efseq.;
(Rental HousingConversionandSaleActof1980— D.C.OfficialCode§42-
3401.01etseq.;
(k) Sections9aand9bofHistoricLandmarkandHistoricDistrictProtectionActof
1978,as amended — D.C.OfficialCode § 6-1101etseq.;
() AgeDiscriminationActof1975— 42U.S.C.§6101etseq.,including,butnot
limitedto,implementingregulationsat24CFRPart146;
(m) AmericanswithDisabilitiesActof1990—42U.S.C.§ 12101etseq.:
(n) BroadbandInfrastructurein HUD-FundedNew Construction& Substantial
Rehabilitation— 24 CFR § 891.
(0) CivilRightsActof1964-42U.S.C.§2000defseq.;
LoanAgreement(RevisedJan.2023) 28
(p) ConflictofInterest—24 CFR §570.611;
(q) __Davis-BaconandRelatedActs— 40U.S.C.§3141efseq.and42U.S.C.§5310:
40 U.S.C.§3701efseq.;29CFR Parts1,3,and5;
(i) TheFederalstatutoryandregulatoryrequirementsoftheDavis-BaconAct
(40US.C.§3141efseq.)andtheContractWorkHoursandSafetyStandardsAct(40U.S.C.§3701efseq.)shallsurvivethetermoftheLoan,TheDavis-BaconActrequires
thepaymentofprevailingwageratestoalllaborersandmechanicsonFederalgovernmentandDistrictofColumbiaconstructioncontractsinexcessof$2,000.TheDavis-BaconAct
laborstandardsalsoapplytothe“RelatedActs,”underwhichconstructionprojectsareassistedthroughFederalfundedgrants,loans,loanguarantees,andinsurance.EachcontractsubjecttoDavis-Baconlaborstandardsrequirementsmustcontaininfullthelabor
standardsclausessetforthin29CFR§5.5(a)relatingtominimumwages,apprenticesandtrainees,withholding,payrollsandbasicrecords,andliabilitiesandpenaltiesforviolations.
ThemandatoryDavis-Baconcontractprovisions,theFederalLaborStandardsContract‘Addendum(HUDForm4010),areattachedheretoasExhibitD andincorporatedherein.
ThewagedeterminationapplicabletothisProjectisattachedheretoasExhibitE andincorporatedherein,ThemandatoryDavis-BaconlaborprovisionssetforthinExhibitDandthewagedecisionsetforthinExhibitE mustbeincorporatedintheConstruction
Contractandeachsubcontractatany

r.
(a)_ Eachweeklypayrollstatementrequiredunder29CER§ 3.3shallbe
deliveredbythecontractororsubcontractor,withinseven(7)daysaftertheregularpaymentdateofthepayrollperiod,totheOfficeofProgramMonitoringatDistrict,of ColumbiaDepartmentofHousingandCommunityDevelopment,1800Martin
LutherKing,Jr.,Ave.,SE,Washington,DC 20020.(29CFR§3.4).
(b) Eachpayrollsubmittedshallbeaccompaniedbya“Statementof
Compliance,”signedbythecontractororsubcontractororhisorheragentwhopaysorsupervisesthepaymentofthepersonsemployedunderthecontract.(29
CER§5.5(a)(3)(i)(B)).UpontherequestofLender,BorrowershallprovideorshallcauseitscontractororsubcontractortoprovideforLender'sreview,any
contractorsubcontractuponwhichacertifiedpayrollisbased;
() EqualCreditOpportunityAct-15U.S.C.§1691etseq.;
(s) Lead Safe Housing Rule (Lead Based Paint)— 24 CFR Part35;
(t) GovernmentwideRequirementsforDrug-FreeWorkplace— 41 U.S.C.§701 er
seq.,including,butnotlimitedto,Federalrulesandregulationsat24CFR Part2429;
(u) FairHousing Act of 1968 — 42 U.S.C. § 3601et seq.,including,but not limitedto,
implementingregulationsat24CFRPart100;
(vy) HatchAct—5 U.S.C.Chapter15;
LoanAgreement(RevisedJan.2023) 29
(w) NationalEnvironmentalPolicyActof1969—42U.S.C.§4331efseq.,including,
butnotlimitedto,implementingregulationsat24CFRPart50or58,asapplicable;
(x) Nonprocurement,DebarmentandSuspension~2 CFRPart2424;
(y)_ RestrictionsonLobbying-24CFRPart87;
(2) Section3oftheHousingandUrbanDevelopmentActof1968-12U.S.C.§1701uetseq.,including,butnotlimitedto,implementingregulationsat24CFRPart75.Inaccordance
withLender’spolicyforHPTFloans,duringconstructionoftheProject,Borrowershallcomplywithandcauseitssuccessors,assigns,andagentstocomplywith24CFRPart75.TheSection3
requirementappliestoassistancethatexceeds$200,000.00orwherethecontractorsubcontractexceeds$1,000,000.00.Borrowershallorshallcauseitscontractorsto includetheSection3
ContractAddendumattachedheretoasExhibitF andincorporatedhereininanycontractsor
subcontractssubjecttheSection3requirements;

(aa)Section106oftheNationalHistoricPreservationActof1966-16U.S.C.§470ef‘seq.,including,butnotlimitedto,implementingregulationsat36CFRPart800;

(bb) Section504 of RehabilitationAct of 1973 — 29 U.S.C. § 794 etseq.,including,but
notlimitedto,implementingregulationsat24CFRPart8;
(cc) UniformAdministrativeRequirements,CostPrinciples,andAuditRequirements
forFederalAwards—2 CFR Part200;
(dd) Uniform RelocationAct— 42 U.S.C.Chapter61;and

(ce)ViolenceAgainstWomenAct(“VAWA”)-42U.S.C.§§13701-14040.oftheViolenceAgainstWomenReauthorizationActof2013,SafeHomesforVictimsof
DomesticViolence,DatingViolence,SexualAssault,andStalking,expandedtheapplicabilityoftheActtotheLowIncomeHousingTaxCreditprogram.VAWA protectsbothchildandadultvictimsofdomesticviolence,datingviolence,sexualassault,andstalking.Allownersand
managersshallcomplywiththerequirementsofthisActandshallusetheapplicableVAWAforms,including,butnotlimitedto,theHUD-5380NoticeofOccupancyRightsunderthe
ViolenceAgainstWomenAct,HUD-5381ModelEmergencyTransferPlanforVictimsofDomesticViolence,DatingViolence,SexualAssault,orStalking,HUD-5382Certificationof
DomesticViolence,DatingViolenceorStalking,andAlternateDocumentation,HUD-5383EmergencyTransferRequestforCertainVictimsofDomesticViolence,DatingViolence,Sexual
Assault,orStalkingandHUD-91067VAWA LeaseAddendum

8.1. DutytoComplywithLenderComplianceCertifications.TheBorroweracknowledges
thatanymisrepresentationofinformationorfailuretocomplywithanyagreementcontainedinitscertificationstocomplywithfederalandDistrictlawsandregulationsgoverningfairhousing,equalopportunity,accessibilityandaffirmativemarketingrequirementsapplicabletotheProjectshallbedeemedanEventofDefault.
Section9. ConflictOf Interest/Limit of Liability
LoanAgreement(RevisedJan,2023) 30
9.1.1,Federaland DistrictlawsstrictlyprohibitanypersonwhoexercisesorhasexercisedanyfunctionsorresponsibilitieswithrespecttoLender-assistedactivitiesorwhoisinapositiontoparticipateinadecisionmakingprocessorgaininsideinformationwithregardtosuchactivitiesfromobtainingafinancialinterestorbenefitfromaLender-assistedactivity,orhaveafinancialinterestinanycontract,subcontract,oragreementwithrespecttoaLender-assistedactivity.Further,asitrelatestotheprocurementofsupplies,equipment,constructionandservices,reci intsofloanfundsfromLenderareheldtotheconflictofinterestprovisionsoftheProgramRequirements.Inadditiontothegeneralconflictofinterestprohibition,thesesectionsrequirethatfundrecipientsmaintainwrittenstandardsofconductgoverningtheperformanceofitsemployeesengagedintheawardandadministrationofcontractstoaddresstheprohibitionagainstanyrealorapparentconflictofinterest.BorrowershallsubmitacopyofitsconflictofinterestpoliciesandprocedurestoLenderwithinfifteen(15)daysoftheClosingDate.

9.1.2.Nomember,official,oremployeeofLendershallbepersonallyliableto
BorroweroranysuccessorininterestintheeventofanybreachofthisAgreementbyLenderorforanyamountwhichmaybecomeduetoBorroweroritssuccessorsorassignsonanyobligations
underthetermsofthisAgreement.
Section10. NoticeofNon-Discrimination.InaccordancewiththeD.C.HumanRightsActof1977,asamended,D.C.OfficialCode§2-1401.01efseq.(the“HumanRightsAct”),theDistrict
ofColumbiadoesnotdiscriminateonthebasisofactualorperceived:race,color,religion,nationalorigin,sex,age,maritalstatus,personalappearance,sexualorientation,genderidentityor
expression,familialstatus,familyresponsibilities,matriculation,politicalaffiliation,geneticinformation,disability,sourceofincome,statusasavictimofanintrafamilyoffense,placeof
residenceorbusiness,andstatusasavictimorfamilymemberofavictimofdomesticviolence,asexualoffense,orstalking.Sexualharassmentisaformofsex discrimination,whichisalsoprohibitedbytheHumanRightsActandisprohibitedbyMayor'sOrder2017-313(Sexual
HarassmentPolicy,GuidanceandProcedures).Inaddition,harassmentbasedonanyoftheabove
protectedcategoriesisalsoprohibitedbytheHumanRightsAct.

Section11. Freedom of InformationAct.
11.1TheDistrictofColumbiaFreedomofInformationActof1976,Pub.L.90-614D.C.OfficialCode§§2-531-939(the“EOIA”)providesforthedisclosureofpublicinformation.Specifically,thelawprovidesthat“anypersonhasarighttoinspect,andathisorherdiscretion,tocopyanypublicrecordexceptasexpresslyexemptedbytheFOIA.Further,a“publicrecord”hasbeendefinedbytheDistrictofColumbiaPublicRecordsManagementActof1985as“anydocument,book,photographicimage,electronicdatarecordingpaper,soundrecording,orothermaterialregardlessofformorcharacteristic,madeorreceivedpursuanttolaworinconnectionwiththetransactionofpublicbusinessbyanyofficeroremployeeoftheDistrict.”D.C.OfficialCode§2-1701(13)(2008).BorroweracknowledgesthatLenderissubjecttotheFOIA.

11.2InformationordocumentationsubmittedtoLenderpursuanttothisLoan,orinconnectionwiththetransactionofthebusinessofLender,issubjecttopublicdisclosureinresponsetoa FOIArequest.Therefore,informationthatBorrowersubmitstoLender,ifnotspecificallyexemptedbyD.C.OfficialCode§2-534oftheFOIA,maybedisclosedtothepublic
uponaproperrequest.

LoanAgreement(RevisedJan.2023) 31

Section12. AntideficieneyAct ns.NotwithstandinganyotherprovisiAgreementtothecontrary,anyandallprovisionswhich,may,couldorappeartoobligateLender
areandshallremainsubjecttothelimitationsoftheAntideficiencyAct,prescribedunder31U.S.C.§§1341,1342,1349and1351,asmadeapplicabletothe DistrictofColumbiaunderD.C.
OffficialCode§47-105;§§47-355.01—355.08,astheforegoingstatutesmaybeamendedfromtimetotime(2001ed.).Ifsuchprovision(s)shallbeinviolationoftheAntideficiencyAct,that
particularprovision,asapplicabletoLender,shallbevoidabinitio.

Section13. Miscellaneous.
13.1.ReimbursementofDisbursementsMadeorOtherCostsIncurredbyLender.
IfBorrowerfailstomakeanypaymentortoperformanyotherofitsobligationshereunder,Lender,afternoticetoanddemandonBorrower,withoutwaivinganydefaultorreleasingBorrowerfrom
anyofitsobligationshereunder,andwithoutbeingunderanyobligationtodoso,maymakesuchpaymentorperformanyoftheparty’sobligations.AllamountssopaidbyLender,andallfeesand
othercostsincurredbyLender,whetherinconnectionwithsuchpaymentorsuchperformanceorotherwiseinconnectionwithitsdutiesandresponsibilitiesunderthisAgreementandtheother
LoanDocuments,shallbeimmediatelydueandpayablebyBorrowerondemandtherefor,as
additionalpaymentshereunder,withinterestthereonasprovidedinSection13.2.Inaddition,notwithstandinganythinginthisAgreementtothecontrary,ifBorrowerdefaultsunderanyterm
ofthisAgreement,andLenderemploysattorneysorincursotherexpensesforcollectionofamountsduehereunderorenforcementofperformanceorobservanceofanyobligationor
agreementbyBorrowerherein,BorrowershallondemandthereforpaytoLenderallAttorneys"
FeesandCosts.

13.2.Intereston AdditionalPaymentsandReimbursements,Withoutlimitingany
othertermsforthepayment of interest,additionalinterest,latecharges,premiums or likecharges
undertheLoanDocuments,inanyinstanceinwhichanysumotherthanprincipal,premium(iffany),andinterestisduefromBorrowertoLenderasadirectpayment,reimbursementorotherwise,andnospecificprovisionismadeastothepaymentofinterestthereonortherateofinterestthereonisnototherwisespecified,thesumshallbearinterestfromthedateonwhichitbecomesdueuntilinfullattheDefaultInterestRate(asdefinedintheNote).

13.3.IndemnificationofLender.
13.3.1.ClaimsinConnectionwiththeProject.Exceptwhereitistheresultof
Lender'sgrossnegligenceorwillfulmisconduct,(a)Borrowershallprotect,indemnify,andsavetsemployees,agentsandrepresentativesagainstandfromallclaimsincurred
by,orassertedorimposedagainst,anyofthem,andanylossorexpense(includingallAttorneys’
FeesandCosts)inconnectiontherewith,duetoLender'sparticipationinthefinancingoftheProject,anyaccident,injury(includingdeath)ordamagetoanyPersonorproperty,howevercaused,resultingfrom,connectedwithorgrowingoutofany actofcommissionoromissionof
Borrower,oranyagents,assignees,contractorsorsubcontractorsofBorrower,oranyuse,nonuse,
possession,occupation,condition,operation,service,design,construction,acquisition,‘maintenanceormanagementof,oron,orinconnectionwith,theProject,untilthisAgreementis
terminated,regardlessofwhethertheclaimsareagainstoraresustainedbyLender,itemployees,itsagentsoritsrepresentatives:(b)Lendershallnotbeliableforanydamageorinjuryoccurring

LoanAgreement(RevisedJan.2023) 32
duringtheLoantermtoPersonsorpropertyofBorroweroranyofitsagentsoranyotherPersonwhoorwhichisontheProperty,andBorrowerherebyreleasesLenderfrom,andagreesthat
Lendershallnotbeliablefor,andBorrower,jointlyandseverally,shallholdLenderharmlessfrom,anysuchliability;and(c)Borrower,jointlyandseverally,may,andifsorequestedby
Lender,shallundertaketodefend,atitssoleexpense,allclaimsbroughtagainstLenderoranyofLender’semployees,agentsorrepresentativesinconnectionwithanyofthemattersmentionedin
thissubsection,providedthatLendergivesBorrowertimelyNoticeofandforwardstoBorrowereverydemand,notice,summonsorotherprocessreceivedconcerninganyclaimwithinthe
purviewhereof.
13.3.2.ApprovalsofProject,NoinspectionsorapprovalsoftheProjectbyLenderduringorafterconstructionshallconstituteawarrantyorrepresentationbyLenderoranyofitsagentsastothetechnicalsufficiency,adequacyorsafetyofanystructureoranyofits‘componentparts,includinganyfixtures,equipmentorfurnishings,andsuchapprovalsorinspectionsshallnotconstitutesuchawarrantyorrepresentationastothesubsoilconditionsoranyotherphysicalconditionorfeaturepertainingtotheProject.Allacts,includinganyfailuretoact,relatingtotheProjectbyanyagent,representativeordesigneeofLenderareperformedsolelyforthebenefitofLendertoassurerepaymentoftheLoan,andarenotforthebenefitofBorroweroranyotherPerson.
13.4,Nonassignability,NeithertheLoannoranydisbursementthereundermaybeassignedby BorrowerwithoutLender’spriorwrittenconsent.NeithertheLoannorany
disbursementsthereundershallbesubjecttotheprocessofanycourtonlegalactionbyoragainstBorroweroritsprincipals,officers,directorsorshareholdersorbyoragainstanyoneclaiming
underorthroughBorroweroritsprincipals,officers,directorsorshareholders.ForpurposesofthisAgreement,theLoanshallremaininthecustodyofLenderuntilBorrowercomplieswithallprovisionshereof,exceptthatnothinghereinshallbedeemedtomodify,affectorsubordinatethe
obligationsheretoforegivenortobegivenbyBorrowerassecurityfortheLoan,allofwhichshallbeandremaininfullforceandeffect,thisAgreementbeingintendedonlyasadditionalsecurity
andprotectionfortheLoanandtoassureitsuseforthepurposesintendedbyLender.

13.5. Liabilityof Lender. All conditionsof the obligationsof Lender hereunder,
includinganyobligationtomakedisbursementsundertheLoan,areimposedsolelyandexclusivelyforthebenefitof Lender and itssuccessorsand assigns,and no otherPerson shallhave
standingtorequiresatisfactionof suchconditionsinaccordancewithitstermsorbeentitledto
assume thatLender willrefusetodisbursesums under the Loan intheabsenceof strictcompliance
withanyandallthereof.NootherPersonshall,underanycircumstances,bedeemedtobeabeneficiaryofsuchconditions,anyandallofwhichmaybefreelywaivedinwholeorinpartbyLender atany timeifin itsdiscretionitdeems itdesirabletodo so.
13.6.NoPartnership,JointVenture,Agency.BorrowerandLenderacknowledgethat
therelationshipbetweenthemcreatedherebyandbytheotherLoanDocumentsisthatofdebtorandcreditorandisnotintendedtobeandshallnotinanywaybeconstruedtobethatofa
partnership,jointventure,orprincipalandagent.

13.7.WaiverofJuryTrial/ServiceofProcess/CourtCosts.BorrowerandLender
agreethatany lawsuitbetweenLenderandBorrowershallbedecidedbyajudge,withouta
LoanAgreement(RevisedJan.2023) 33
jury.BorroweragreestopayallcourtcostsandAttorneys’FeesandCostsincurredbyLenderinconnectionwithsuccessfullyenforcinganyprovisionofthisAgreement.BorrowerherebyirrevocablydesignatesRegisteredAgent,asthetrueandlawfulattorneyofBorrowerforthepurposeofreceivingserviceofalllegalnoticesandprocessissuedbyanycourtintheDistrictofColumbiaaswellasserviceofallpleadingsandotherdocumentsrelatedtoanylegalproceedingoractionarisingoutofthisAgreement.Notwithstandingtheabove,BorrowershallhavetherighttochangeitsRegisteredAgent,inwhicheventBorrowershallgivewrittennoticetoLenderofanysuchchange,includingacurrentaddress.
13.8. No Third Party Beneficiaries.The terms and provisionsof thisAgreement are for
thebenefitofthepartieshereto,andnootherpersonshallhaveanyrightorcauseofactiononaccounthereof.
13.9.Counterparts.ThisAgreementmaybesignedincounterparts,anyofwhichtogetherwithallexecutedsignaturepagesshallconstituteafullyexecutedandbindingagreement.
13.10.Notices.Allnotices,requestsanddemandsontherespectivepartieshereto(each,
a“Notice”)shallbegiveninwriting,anddeemedtohavebeengiventhree(3)businessdaysafterhavingbeensenttoLenderorBorrower,asapplicable,atitsrespectiveaddresslistedbelow,by
regularandcertifiedUSmail,orone(1)businessdayafterhavingbeendeliveredbycourierorovernightdeliveryservicetotheappropriatepartyattheaddresslistedbelowandwithreceiptfordeliveryorrefusalofdelivery.Copiesofnoticestotheentitieslistedbelowtoreceivecopiesshall
besentbyregularmailorelectronicmail.Anypartyorentitymaychangeitsaddresstoreceivenoticeorcopiesthereofbysendingawrittennoticeofthechangetoallotherpartiesorentities
listedbelow.

IftoLender: D.C.DepartmentofHousingandCommunityDevelopment1909MartinLutherKingJr.Avenue,S.E.
Washington,D.C.20020
Attn:Director
withcopyto: D.C.DepartmentofHousingandCommunityDevelopment
1909MartinLutherKingJr.Avenue,S.E.Washington,D.C.20020
Attn:GeneralCounsel
IftoBorrower: BenningRoadMetroApartmentsLLC
c/oMarshallHeightsCommunityDevelopmentOrganization
3939BenningRoadNEWashington,DC 20019
Attn:BabatundeOloyede,President& CEO
withcopyto: BenningRoadMetroApartmentsLLCcloTheNRPGroup1228EuclidAvenue,4thFloor
LoanAgreement(RevisedJan,2023) 34
Cleveland,Ohio44114_Attn:NoamMagence,Esq.
withcopyto: Reno& Cavanaugh,PLLC455MassachusettsAve,NW,Suite400
Washington,DC 20001Attn:EfremLevy,Esq.& MatthewGreeson,Esq.
13.11.Amendment.ThisAgreementmaybeamended,andBorrowermaytakeanyactionhereinprohibited,oromittoperformanyactrequiredtobeperformedbyBorrower,onlyifBorrowerobtainsLender'spriorwrittenconsenttosuchamendment,actionoromissiontoact.
13.12. Survival_of Agreements. All agreements, covenants, representationsand
‘warrantiesof Borrower made inthisAgreement shallsurvivethe execution and deliveryofthis
Agreement and the other Loan Documents, and the making of alldisbursements hereunder,
regardlessofanyinvestigationmadebyoronbehalfofLender.

13.13.EntireAgreement;SuccessorsandAssigns:TimeofEssence.ThisAgreement
and theotherLoan Documents containtheentiretermsof theagreementwithrespecttotheLoan,
andnorepresentations,inducements,promisesoragreementsbetweenBorrowerandLendernotset forthhereinor in the other Loan Documents shallbe of any forceor effect.This Agreement
shallbebindingonandshallinuretothebenefitofBorrower,jointlyandseverally,andLenderandtheirrespectivesuccessorsandLender’sassigns,whethersoexpressedornot.Timeisofthe
essenceunderthisAgreement.
13.14.Severability.IfanyoneormoretermsofthisAgreementortheotherLoanDocumentsaredeemedtobeinvalid,illegalorunenforceableinanyrespect,thevalidity,legalityandenforceabilityoftheremainingtermshereinorthereinshalinotbeaffectedorimpairedthereby,andshallbeenforceabletothemaximumextentpermittedbylaw.

13.15.DescriptiveCaptions;Headings.Thecaptionsandheadingsofthesections,subsectionsandparagraphsofthisAgreementarefortheconvenienceofreferenceonly,andarenotconsideredtobeaparthereofandshallnotlimitorotherwiseaffectanyofthetermshereof.
13.16.Construction.Asusedherein,allreferencesmade(i)intheneuter,masculineorfemininegendershallbedeemedtohavebeenmadeinallsuchgenders,(ii)inthesingularorpluralnumbershallbedeemedtohavebeenmade,respectively,inthepluralorsingularnumberaswell,and(iii)toanysection,subsection,paragraphorsubparagraphshallbedeemed,unlessotherwiseexpresslyindicated,tohavebeenmadetosuchsection,subsection,paragraphor
subparagraphofthisAgreement.

13.17.GoverningLaw.ThelawoftheDistrictofColumbia(ignoringitsconflictsoflawsprinciples)shallgoverntheinterpretation,performanceandenforcementofthisAgreement.Allcitationstolegislationhereinshallmeanforsuchlegislationasofthedatehereof,andasmaybeamendedfromtimetotimeinthefuture.
LoanAgreement(RevisedJan.2023) 35
13.18. Conflict with Program Req ments. In the eventof a conflictbetween this
AgreementandtheProgramRequirements,theProgramRequirementsshallcontrol.
13.19.Subordination.TherightsoftheLenderandanyholderoftheNoteunderanyof
theLoan Documents (excepttheAffordableHousingCovenant)shallbe subordinateinallrespects
totherightsof theSeniorLenderundertheSeniorLoan Documents and aresubjectinallrespects
tothetermsandprovisionsoftheSubordinationAgreement.

[Remainderofpageintentionallyleftblank]
LoanAgreement(RevisedJan.2023) 36
IN WITNESS WHEREOF, BorrowerandLenderhavecausedthisAgreementtobe
executedand deliveredasofthe datefirstabove written.
LENDER:
DISTRICTOF COLUMBIA,amunicipalcorporation,actingbyandthroughthe
DEPARTMENT OF HOUSING AND
COMMUNITY DEVELOPMENT
ColleenGreen
Director
ApprovedastoLegalSufficiency:
By
GitaF.SankanoAssistantGeneralCounsel
[Signaturescontinueonfollowingpage]
LoanAgreement(RevisedJan.2023) 37
Loan Agreement (Revised Jan. 2023) 38
4861-0639-8185, v. 9
BORROW
ER:
BENNING RO
AD METRO APARTMENTS LLC,
a District of Columbia limited liability company
By: B
enning Road Metro Apartments Managing
Member LLC,
a District of Columbia limited liability company,
Managing Member
By: Ma
rshall Heights Community Development
Organization, Inc.,
a District of Columbia nonprofit corporation,
Managing Member
By: _________________________
Babatunde Oloyede
President and CEO

EXHIBIT A
SUMMARY OF LOAN TERMS
[Attached]
A-l4861-0639-8185,v.7
SUMMARY OFLOANTERMSAND PROJECTDETAILS

ProjectName:
BorrowerName:
ProjectAddress:
DHCDProjectManager:
FundingRound:
LastUpdated:
Benning Road Metro Affordable
"BenningRoadMetroApartmentsLLC
| 4401-4435 Benning Road NE, Washington DC, 20019
“LisaWilliams,JacobWilis
“2021ConsolidatedRFP
"2021ThresholdApprovalforfurtherunderwriting
October3"2025,LoanReviewCommittee

FundingDescription
GapFundingAmount: Amountnottoexceed$26,000,000}
TaxCreditAllocation: [$40,776,989]4%LIHTC($33,614,595(Federal)+
$7,161,484(OC)

Loanor9% LIHTCIncrease
Approved:
FundingSource(s):
ProductType:
EligiblePurposeandUses:

IncreasefromApplication:[$5,100,000]HPTF/$22,012,016TPC
PercentageIncreasefromApplication:[24%]HPTF/34%TPC
X HousingProductionTrustFund(HPTF)
__HOMEInvestmentPartnershipsProgram(HOME)
__CommunityDevelopmentBlockGrantProgram(CDBG)
__NationalHousingTrustFund(NHTF)
___DepartmentofBehavioralHealth(DBH)
__CDBG-Section108LoanGuaranteeProgram
_— Other[Specify]
XLoanrepayablefromNetCashFlow
Grant
Acquisition(includingrefinancinganacquisitionloan)
SoftCosts,includingPredevelopmentandFinancingCosts
NewConstruction-HardCosts
__Rehabilitation-HardCosts
__.CashCollateralizationofTax-ExemptBonds
__.CriticalRepairs(onlyselectifacquisitionfinancingonly)
X_OtherHPTForfederally-eligblecostsasdefinedintheDevelopment
ProjectBudget(Form202)
‘© Fundsmaybeusedtoreimbursepredevelopmentandacquisition
costsatDFD’sdiscretion,regardlessofwhenthecostswere
incurred.

P<
Pe
P|

4905-3164-5809,v.2

‘© EligibleusesmustbeidentifiedandapprovedintheForm202.
© DrawschedulewillbeestablishedpriortotheClosingDate.
LoanTerm: 42yearsfromtheClosingDate
InterestRate: 3%simpleinterest
AccrualstartsontheClosingDateonamountsdrawndown

30.monthsforconstructionplus12monthsforstabilization,including
lease-upandconversion+1six-monthextension(48months)
Construction/Stat
Perio
Retainage Amount: $2,600,000 [The lesserof ten percent (10%) of the
constructioncontractortenpercent(10%)oftheLoanamount]

RepaymentStart: CommencesonJune1ofcalendaryearaftertheprojectedPlacedin
Servicedate(orcomparabledocumentationisprojectedto be
received),subjecttoNetCashFlowwaterfallinDeedofTrustNote.
RepaymentSource: TheLoanistoberepaidfromNetCashFlowandproceedsresultingfrom
anyCapitalTransaction,assetforthintheLoanDocumentsand
Borrower'sorganizationaldocuments.
Recourse: Non-recourse
ThirdprioritydeedoftrustonthePropertyandProject,includingallof
Borrower'sright,titleandinterestintheland,improvements,rentsand
leases,fixtures,personaltyandallcollaterallocatedonorusedin
connectionwiththeProject.

CollateralPosi
‘Tax-Exempt/TaxableX4%LowIncomeHousingTaxCredits(LIHTC)-Amount:[$33,614,595]
Bonds/StateandFederal__9% LowIncomeHousingTaxCredits(LIHTC)~Amount:[$X]
LHTC: X StateLowIncomeHousingTaxCredits(DCLIHTC)— Amount:
($7,161,484)
XShort-termBonds~ EstimatedAmount:($30,550,000)
X Long-termBonds— EstimatedAmount:[$12,150,000]
NoneX"LocalRentSupplementProgram(LRSP)__AnnualContributionsContract(ACC)(PublicHousingOperating
Subsidy)X Departmentof HumanServices(DHS)PermanentSupportive
Housing(PSH)CaseManagementSupportiveServices
| Other:
OtherNon-RFPorExistingSection8Project-BasedSubsidy(i.e.,PBVorPBRAHAPcontract)
Sub: __RentalAssistanceDemonstration(RAD)conversionortransferof
assistance__AnnualContributionsContract(ACC)(PublicHousingOperating
Subsidy)__DepartmentofBehavioralHealthoperatingsubsidy
XNonprofitAffordableHousingDeveloperTaxRelief
_XOther:SolarITCEquity/greenBuildingSources$86,240
DistrictLand: PADD __ DMPED.

ProjectDescription/ApplicationCommitments
4905-3164-5809,v.2

ProjectType:
TotalUnitsinProject:
LIHTCSet-AsideElection:

Leverage:
ApplicableProgram(s):
IncomeLevelsServed:
Mixed-income:

XProduction__PreservationandProduction
XNetNewUnitsTotaling[#109]
XRental__Homeownership__LimitedEquityCooperative
1[#109]units
[#109]
22__20%ofUnitsat30%MFI
65__60%ofunitsat50%MFI
22__20%ofunitsat80%MFI
52.%__AverageIncome(SeeAverageMFlinTable2)
PeriodHPTF:
XPerpetual__99years__62years_52years__42years
‘* CommencesontheClosingDate
© TheAffordabilityPeriodshallbe automaticallyextendedif
necessary,toinsurethatitwillnotbelessthanforty(40)years(or
theabovecommittedaffordabilityperiod)fromthePlacedin
ServiceDate
unTC
Perpetual99years__60years__5Oyears
X_40years(minimumrequirementstarting2021)__30years
‘© Commenceswiththefirstyearofthetaxcreditperiod
FederalFunds:
[N/A]yearsfromtheClosingDate
__ Useof GroundLeaseStructure:[N/A]years
‘$4,396,143MinimumDeferredDeveloperFeeCommitment
‘$4,085,995MinimumSponsorLoan/OtherOwnerSubsidyCommitment
§, Other:[Specify]
29.72%HCDParticipation(Overallleverage)$[238,532]perunit
[23]% SubsidyLeverage(eligiblenon-RFPsources)
"Seetablebelow
52%WeightedAverageMFIServed
Inclusionof209+MarketRateUnits:__ YesXNo
4905-3164-5809,v.2

Permanent Supportive
Housing(PSH):

Family-OrientedUni
Programsto AddressAdditionalBarrierstoHousing

HousingforOlderAdults:
AccessibleHousing:
Homeownership and
Wealth-Bi 5

Vacanciesfilledfrom
Section8 and Public
HousingWaitingList:
Qualified Non-Profit
MajorityOwnerwithROFR:
assisted
Minimumof10%ofunitsinthreeofthefollowingincomecategories:X
Yes__No
* percentto30percentMFI:( 20_1%
‘© 31percentto50percentMFI:[_60_]%
511percentto80percentMFI:[20]%
Market-rate(unrestricted,unsubsidized):[0_]96
20% __10%__5%[xX]PSHunits
__None_X_Other:24%
_DBH Units
__ScatteredSite__LimitedSite-BasedxXSite-Based
OfficeSpaceRequired?_X_Y___N
SecurityPlanRequired?__Y_X_N

[%45]2+Bedroomunits{%20]3+Bedroomunits
__Returningcitizens
__ Householdsofunknownimmigrationstatus
__Residentswithdevelopmentalorintellectualdisabilities
__ Residentswithdiverselanguageneeds
Youth agingoutoffostercare
__ HousingforPersonsWithAIDS
X Other(Describe):PermanentSupportiveHousing
ivingthataccommodatesseniorsandpeoplewith

disabilities__ IndependentLivingthataccommodatesseniorsandpeoplewith
disabilities__Aeerestrictedhousing55+
__ Agerestrictedhousing62+
© UtilizingUniversalDesign(TheKelseySilver,Gold,orPlatinum
StandardorVirginiaUniversalDesignStandard)
__AllunitsmeettheANSITypeAaccessibilitystandards
X Providestwicethenumberofaccessibleandau
requiredbySection504
__ Immediatehomeownershipopportunities

__ Structuredtotransfertotenantownershipaftertheinitial15-year
‘complianceperiod
__ Provideswealth-buildingservicesthatmaybetterpreparetenants
tobehomeowners
XYes___No
XYes__No
N/A fornon-LIHTCprojects
4905-3164-5808,v.2

Contractwaived:
InnovativeDesign:
Community
Services:

Righttoseeka Qualified
GreenDesignandBuilding
ThresholdRequirement

ResilientBuildingsand
ResidentServicesand
Oriented
xYes
__ N/Afornon-LIHTCprojects
‘MinimumGreenBuildingCertificationRequired:
___2020EnterpriseGreenCommunitiesCriteria(EGC)(rehabilitation
projectsofanysizeandnewconstructionbuildingslessthan50,000sf)
X 2020EnterpriseGreenCommunitiesCriteriaPlus(EGC+)(new
constructionbuildingswithatleast50,000sf)Waiverfornewstandards
asof2025toreduceprojectcosts.
____Level1AcceleratedSavingsRecognitionAlternativeCompliance
Pathway(ACP)OptionforcompliancewithDOEE’sBEPS(rehabilitation
projectsofatleast50,000sfifnotwaivedbyDOEEduetocurrent
compliance)
___Other(withDHCDapproval):[Specify]

SolarReady:__XYes(Noisnotanoption)
Solarincluded:_X_YesNo

AdvancedCertification(s)orInnovativeDesignFeaturesPursued:
____2020EnterpriseGreenCommunitiesCriterion5.4AchievingZero
Energy
X2020EnterpriseGreenCommunitiesPlus(EGCPlus)(rehabilitation
projectsofanysizeandnewconstructionbuildingslessthan50,000sf)
___TRUEZeroWasteCertification
___ WholeBuildingLife-CycleAssessment(LCA)SupportedLow-
EmbodiedCarbonDesign
____EnterpriseGreenCommunitiesCriterion6.5EnvironmentallyResponsibleMaterialSelectionforConcrete,Steel,andInsulation
__ Mass-TimberConstruction;and/orModularConstruction
BuildingElectrification(noon-sitecombustion)
____UseofDOEEResilienceandSolarAssessmentTool
XPerResidentServicesPlan
% ofcoreservicecostsfundedoutsideofprojectbudget:
—— Upto33%
__ Between33%and50%
XOver80%
BudgetSource(checkallthatapply):__ DeveloperFeeXFundraising
OperatingBudgetXOther
ServicesOffered(checkallthatapply)_X__Training& EducationalProgramming~AcademicandEconomic
Empowerment
__X_Training& EducationalProgramming~Environment,Healthand
Wellness
4905-3164-5800,v.2

___ResidentInvolvementandOrganizationalCapacity-Building
___OnsiteDaycareServicesCommunityAmenities(checkallthatapply):
___HighSpeedInternet(atleast5yearsatnocharge;entirebuilding)
X Playground_Daycare/Preschool
XCommunity/Multi-purposeRoom
XFitnessCenter___OnsiteGrocer/FarmersMarket/FoodProvision/Garden
__ HealthFacilityOnsite
WorkforceDevelopment:A localapprenticeshipprogramexceedingminimum
apprenticeshiphoursworkedbyDC residentsby10%ormore
___ExceedingtheDistrict'sFirstSourceHiringrequirementby10%or
more___CertifiedBusinessEnterprise(CBE)participationof50%ormore
UtilizingoneormoreoftheDCGreenJobsorWorkforce
_DevelopmentPrograms
OtherProjectFeatures: _CommercialSpace(s): SFXResident/CommunityAmenitySpaces:4,7215FXParkingSpaces_13(11indoor,2outdoor)#ofspaces
__ Other:[Describe]—___UtilizationofCondoorTaxLotRegimeforIneligibleUses
AdditionalExplanation:
DevelopmentTeamMembers
Developer/Sponsor: Developer/Sponsor1:NRPHoldingsLLCDeveloper/Sponsor2 (ifapplicable):MarshallHeightsCommunity
DevelopmentCorporation
GeneralPartner/ManagingNon-ProfitMember(51%):
For-ProfitMember(49%):

Member
GeneralContractor: NRPContractorsLLC
Architect: MichaelGravesArchitectureandDesign
ManagementAgent: INRPManagementLLC
DevelopmentConsultant: N/A

ConstructionManager DanHullNRPContractorsIlLLC
Supportive ServicesJaydotLLC
Provider(PSH):
ResidentServicesProviderMarshallHeightsCommunityDevelopmentCorporation
(Property-wide):
Other:
Conditions
1. Compliancewithallapplicableregulationsandrequirements,
includingbutnotlimitedtoOPM clearance,Councilapproval,and
standard DHCD due diligence items.
StandardConditions:

4905-3164-5809,v.2

2 LoanRight-sizing.TheLoanisanot-to-exceedamountintendedto
providetheminimumgapfinancingneededtocompletetheProject
aftertakingintoconsiderationtheadditionalsourcesoffinancing,
includingmaximizeddebt,equity,incomeandgrants,andany
Projectbudgetsavingsduetounspentcontingencyfundsorother
‘costsavings.TheLoanwillberight-sizedpriortotheClosingDate
andaftertheClosingDateasfollows:

A.PriortotheClosingDate:
i Anyincreaseinnon-Lendersourcesbetweenthedate
ofLender'sLoanReviewCommitteeapprovalandtheClosing
DatewilldecreasetheLoanonadollar($1.00)fordollar($1.00)
basis.Anexceptionmaybemadeforadditionalnon-Lender
sourcesraisedto fundunanticipatedcostincreasesor
decreasesinothersourcesavailablefortheProject.Except
‘STORMRevolvingLoanFundsfromDHCDupto$5,000,000

ji, AnydecreaseinProjectusesbetweenthedateof
Lender’sLoanReviewCommitteeapprovalandtheClosingDate
willdecreasetheLoanona dollar($1.00)fordollar($1.00)
basis.AnexceptionmaybemadefordecreasesinProjectuses
madetooffsetunanticipatedcostincreasesordecreasesin
non-LendersourcesavailablefortheProject.
ili, Borrowermustpursueallavailablesolar/greenbuilding
fundsavailableintheDistrictofColumbiapriortotheClosing
Date.IfBorrowersecuresoneormoresourcesofsolar/green
buildingfunding,theLoanamountwillbereducedbythenet
proceedstotheProject(fundingminusrelatedcosts)from
thesesources.IfBorrowerisunabletosecureoneormore
sourcesofsolar/greenbuildingfunding,Borrowermustprovide
affirmativeevidencethattheProjectisnotamatchforavailable
funds.
iv. AsrequestedbyLender,Borrowermustprovideexecuted
contractsorotherdocumentationacceptabletoLenderto
substantiatesoftcostbudgetlineitemsandtoright-sizethe
Loanamountinaccordancewiththeserequirements.
B.AftertheClosingDate:
i. Anytemporaryusesoffunds,ifapplicable,shallbe
returnedtoLendertodecreasetheLoanona dollar($1.00)for
dollar($1.00)basis,includingfundingforanyrefundeddeposits
orfinancingfeesinitiallyrequiredbyDistrictagencies,lenders,or other parties.

4905-3164-5809,v.2

3,
4,
ik LenderwillreducetheLoanonfiftycents($0.50)for
everydollar($1.00)basisforanyothernetreductioninthetotal
costsshownintheProjectBudgetduetounspentcontingency
funds,remainingfundsinapplicableshort-termreserves,or
otherbudgetsavings,unlessthecostsavingsareutilizedto
coveranunanticipateddecreaseinotherProjectsources.

i LenderwillreducetheLoanona fiftycents($0.50)for
everydollar($1.00)basisforanyincreaseinfundingthatis
committedtotheProjectaftertheClosingDateoverandabove
thefundingsourcesinthefinalProjectBudget,includingany
additionalseniorloanproceeds,unlesstheincreaseinfundingisobtainedfromanon-Lendersourcetocoveranunanticipated
increaseinProjectcostsoradecreaseinotherProjectsources.
Reserves.TheBorrower'sorganizationaldocumentsmustcontain
thefollowinglanguage:Intheeventthereplacementoroperating
reserve,ifapplicable,arenotusedforitsintendedpurpose,any
fundsremaininginsuchreservesattheendofthetaxcredit
complianceperiodoruponthesaleoftheproperty,whicheveris
earlier,mustremainwiththeProject,butmaybeusedtoreduce
anyoutstandingdebtontheProjectwithLender’sconsent.
RepaymentRelatedRequirements.
‘A.NetCashFlowWaterfall.ForthedistributionofNetCashFlow,Lender’sminimumstandardwaterfallisasfollows:
i Investor'sassetmanagementfee,whichissubjectto,Lender'slimit;describedinsubparagraphS(5)below(the"FeeLimit”);
ji, Otheramountsowedto investor(taxliability,adjusters);
Replenishmentofoperatinganddebtservicereserves,udinganyadvances,onlyifrequiredbyseniorlenderand/or
investor;

iv. Partnership/Companymanagementfee,whichis
subjecttotheFeeLimit;
vi. Untilthedeferreddeveloperfeeispaidinfull,90%to
paythedeferreddeveloperfeeand10%topaytheLoan;and
vii,Afterthedeferreddeveloperfeeispaidinfull,75%to
paytheLoan.
viii.Ifapplicable,anydeferredpropertymanagementfee(if
agentisanaffiliateofBorrower),sponsor/managingmember
loans,accruedpartnership/companymanagementfees,
accruedinterestondeferreddeveloperfee,orotherliabilities
4905-3164-5809,v.2

mayberepaidfromNetCashFlowaftertheprioritieslisted
above.
B. FeeLimit.Theinitial,aggregateamountoftheFederalLIHTC
investor'sassetmanagementfeeandthePartnership/Company
managementfeecannotexceedthelesserof$15,000or$200
perunitperannum.Eachfeecanincreaseby3% annually,
subject to investor approval.
C.NetCapitalProceedsWaterfall.Forthedistributionofnetproceeds resultingfrom any Capital Transaction, Lender
requiresthatthefirstpriorityinthewaterfallbepaymentofanydebtsowedbyBorrowerinorderoflienpriority/recordingorder,except those due to the partners/members of Borrower
and/or theiraffiliates.
SpecialCondi

Definitions

CapitalExpenditures:
CapitalTransaction:
ClosingDate:
NetCashFlow:

CapitalContribution:
BenningRoadMetroAffordableto receiveevidenceof
completeWMATA projectapproval.
‘Theamountofmoneyorthefairmarketvalueofotherproperty
contributedtoBorrowerbyitsmembers/partnersinaccordancewith
theBorrower'sorganizationaldocuments.
CustomaryandreasonablecostsandexpensesincurredbyBorrowerin
connectionwithcertainmajorrepairs,replacementsandimprovements
of theProjectwhicharenormallycapitalizedundergenerallyaccepted
accountingprinciples,including,butnotlimitedto,theperformanceof
worktotheroofs,chimneys,gutters,downspouts,paving,curbs,ramps,
driveways,balconies,porches,patios,exteriorwalls,exteriordoorsand
doorways,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,
windowtreatments,bathvanities,bathtubsandmechanicalandHVAC
equipment.
AnytransactionoutoftheordinarycourseofBorrower'sbusinessthat
iscapitalinnature,includingwithoutlimitation,thedisposition,whetherbysale(exceptwhensuchsaleproceedsaretobeused
pursuantto a planor budgetapprovedby allofBorrower's
members/partners),casualty(wheretheproceedsarenottobeused
forreconstruction),condemnation,refinancingorsimilareventofany
_partoralloftheProject.
Dateofinitialfinancialclosing.
OperatingRevenueless(a)OperatingExpenses(includingrequired
reserveamounts),(b)must-paydebtservice,(c)paymentsforCapital
4905-3164-5809,v.2

Expendituresthatexceedapplicablereservesorothersources,as
approvedbyLender.
OperatingExpenses: “OperatingExpenses”shallmeanwithrespecttoeachfiscalyearor
portionthereof,thesumofthefollowingcashexpendituresandall
expensesunpaid,butproperlyaccrued,thatareincurredincidenttothe
operationoftheProjectbyBorrowerduringsuchperiod:operating
costsincurredbyBorrowerforthemanagement,operation,cleaning,leasing,marketing,andmaintenanceoftheProject,includingwithout
limitationwages,payrollandaccountingcosts,utilities,maintenance
costsotherthanCapitalExpenditures,licensefeesandbusinesstaxes,
thepropertymanagementfee,excepttotheextentsuchfeeisdeferred
andpaidfromavailableNetCashFlow,applicationfees,compliance
‘monitoringfees,andanydelinquentrentthatiswrittenoff;;reasonable
monthlyreservesforallrealestatetaxesandassessmentsimposed
upontheProjectandrequiredtobepaidbyBorrower,butonlytothe
extentsuchtaxesandassessmentsarepaidorsetasideasareserveby
Borrowerduringsuchfiscalyear;reasonablemonthlyreservesfor
insurancepremiums;andrequireddepositsintothereplacement
reserveand other reserves.or~—escrow_—accounts.

Theterm“OperatingExpenses”shallnotincludeanyofthefollowit
depreciation,amortization,depletionorothernon-cashexpenses;must-paydebtservice;allcosts,liabilitiesandexpensesassociatedwith
acquiring,constructing/rehabilitating,developingoroperatingthe
Project,including,butnotlimitedto,thosecostsreflectedintheForm
202andincludingpaymentofthedeveloperfee(netofanydeferred
developerfee),whichhavebeenincurredto(i)acquiretheProject,(i)
achievethePlacedinServiceDate,(iii)remedyanydefectsin the
constructionoftheProjectand/oranyvarianceinconstructionfromthe
PlansandSpecificationsthatisdiscoveredwithinone(1)yearafter
initialoccupancyofallofthehousingunitsorshouldhavebeen
discoveredwithinsuchtimeperiodandisdiscoverednotlaterthan
three(3)yearsafterinitialoccupancyofallofthehousingunits,(iv)all
OperatingExpensesandmust-paydebtserviceattributabletothe
periodpriortothePermanentLoanClosingDate,(v)theinitialfunding,
ofanyrequiredreservesandescrowsintheamountsapprovedby
LenderasoftheClosingDate,and(vi)achieveconversiontopermanent
financing;andanyotherfeesorpaymentscontingentonavailableNet
CashFlow.
"i Allactualcollectedrevenuereceivedfromrents,leasepayments,andallothersources(includinganyreleaseoffundsfromreservesor
escrows),butexcludingtenantsecurityorotherdeposits(excepttothe
extentforfeitedtoBorrower);CapitalContributionsandinterest
thereon;proceedsfromCapitalTransactions;interestearnedon
reservesnotavailablefordistribution;andnetproceedsofanyinsurance(includingrentallossorinterruptioninsurance),otherthan
fireandextendedcoverageandtitleinsurance,totheextentnotused
forrebuildingoftheProject.

4905-2164-5809,v.2

ServiceDate:

‘thedate that the Projectreceivesa certificateof occupancy from the
DistrictofColumbiagovernmentcertifyingthatthedevelopmentoftheProjectiscompleteandtheProjectcanbeoccupiedbytenants.IntheeventthattheProjectdoesnotneedacertificateofoccupancytobeoccupied by tenants,then the Placed in ServiceDate shallbe the date
of substantialcompletion of the Project as certifiedby the Project
architect.
4905-3164-5808,v.2 u

EXHIBIT B
PROJECT BUDGET
[Attached]
B-l4861-0639-8185,v.7
DHCD Loan Review Committee

BenningRoadMetroAffordable,LLC
DHCD Loan Review Committee
aed PROJECTEXPENSES

“otano wit a anand iuntitesptteme en
Aji PUPAOptingEpesforDCDOperatingEspnsa a

BenningRoadMetroAffordable,LLC
DHCD Loan Review Committee
é#ed SUMMARYSOURCESANDUSESOFFUNDS

C CONSTRUCTIONSOURCESANDUSES )
{eloansvuctonisnA
loneitiSource
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lonerconeegySourcesotalConstrctionSoureet

C PERMANENTSOURCESANDUSES, )
SeniorLoaAmountistentalDa[etre ee
otalPermanentSours [otalPeomanenUses

Benning Road Metro Affordable,LLC

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DHCD Loan Review Committee
acd LOW-INCOMEHOUSINGTAXCREDITEQUITY
Howmanybuildingsareintheps zualiedcensustact,orbeengrantedabassboostbyONCD?| Yes‘aqualfiedcensusrat,orbeengrantedabasisbostbyOM 1MinimumSetAside?|___Avgincome

‘nybuildingsintheprojectinadificulttodevelop‘es,howmanybuildingswillbeadificulttode

‘CALCULATIONOFTAKCREDITAMOUNT‘MaximumLowincomeHousingTaxCreditBasedonEgleCostsDescition Agustin—[ewConstroctonRehabei omCTEgi osab] 27000 3288.12LessFederalrantsanorbelow-marketfederalans saLessnon-qvifednnecousefinancingLescotsofnon-qualyngUnitsofhigherquayorexcessansnonauaTyngusLessHistorieRehabilatonTaxCredit(Residentialportionon][adjustedtiieBasisDic toOeveloperArea_OCT,ocDHCDapprovedasaBoost[ApplicableFraction(acltebelow)fauaiedass[ApplicablePercentage(constrainBasualicdoroF327)TowIncomeHousingTaxCreditEbleEstimatedLow-incomeHousingTaxCreitSyndicationProceeds[CombinedLowIncomeHousingTaxCreditCigible(resultfrmprevioustable)[TaxCreditPeriod(10years).otalTaxCreditRecelvedOverPeriod z[RaiseRatiofromSydicator'sProposal[GrossProceedsfromtowincomeHousingTaxCredit[GrossProceedfromHistoricTaxCredit."MaximumEquityfromSyndizationProceeds
‘MaximumLow-incomeHousingTaxCreditBasedonProceedsNeeded[RequestedAnnual9%UHTC(applicable)[ProceedsNeededfeteeserofmaximunyequrom synlcatonroceedsamountBasedon9HUTColocatonfia ==S334S55[GrossProceedsfromHistoricTaxCrstalHistoricRehabltationTaxCreditxSyndiatorRaiseal[LowincomeHousingTaxCreditSyndicationProceeds[RaiseRatiofromsynicatorsProposal[TotalTaxcreditReceivedOverPeriodaxCredPeriod(10years)"MaximumLow-incomeHousingTaxCredit
‘ApplicableFractionTheplicablefroctionisthelesserofthefollowingformulas(markoneboxonly)

Percentofits Percentoa,Fe3 Low incomeUnits 109 e Low incomeSq.Ft. _95,098,
TotalUnits “108 TotalSaFe 58UnitPercentage 0% Sa.Percentage cos

BenningRoadMetroAffordable,LLC
DHCD Loan Review Committee
aed DC LOW-INCOMEHOUSINGTAXCREDITEQUITY
Allproject'sreceivingFederalLIHTCs,both4%and9%,areeligbletoreceiveDCLIMTCs.Thisworksheetwillcalculatethe‘amountofDCLIHTCstheprojectiseligibleforandconfirmthattheprojectmeetstheeligibilitytestforclaimingthecredits
FederalLIHTCsGeneratedbytheprojectDCLINTCsGeneratedbytheproject
EquityPricingTest‘DCUTCequitypricingmustbeatleast80%oftheFederalLIMTCequitypricingfortheprojecttoclaimthe

$38,198,404
$9,549,601
DcUTC.

FederalHTCEquityPricing oa
DCLIHTCEquityPricing$ 0.75,
PRICINGTEST:lsDCLIHTCPricingEqualTotheLowerof$0.70/$1.00or80%?|
TotalEquityRaised

EquityRaisedfromDCLTC 5761484
DCLIHTCFeeduetoDHCD 95,496
‘TheOvercertifiesunderpenaltyofperjurythattheinformationcontainedinthisFem202istre,correctandcomplete.TheOwnerfurthercertifiesunderpenaltyofperjurythtthevalueofthecreditreceivedfortheprojectisedtoensurethefinaeialfeasibilityoftheproject,

BenningRoadMetroAffordable,LLC
EXHIBIT C
CONSTRUCTION DRAW SCHEDULE
[Attached]
DMFIRM #41903568v25 Cl4861-0839-8185,v.7

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EXHIBIT D
FEDERAL LABOR STANDARDS CONTRACT ADDENDUM.
[Attached]
D-14861-0639-8185,v.7
HUD-4010 U.S.DepartmentofHousingandUrbanDevelopment
FederalLaborStandardsProvisions OfficeofDavis-BaconandLaborStandards

‘APPLICABILITY‘TheProjectorProgramtowhichtheconstructionworkcoveredbythisContractpertainsisbeing
assistedbytheUnitedStatesofAmerica,andthefollowingFederalLaborStandardsProvisionsareincludedinthisContractpursuanttotheprovisionsapplicabletosuchFederalassistance.1, Minimumwagesandfringebenefits
i.Alllaborersandmechanicsemployedorworkinguponthesiteofthework(orotherwiseworkinginconstructionordevelopmentoftheprojectunderadevelopmentstatute),willbepaidunconditionallyandnotlessoftenthanonceaweek,andwithoutsubsequentdeductionorrebate
‘onanyaccount(exceptsuchpayrolldeductionsasarepermittedbyregulationsissuedbytheSecretaryofLaborundertheCopelandAct(29CFRpart3)),thefullamountofbasichourlywagesandbonafidefringebenefits(orcashequivalentsthereof)dueattimeofpaymentcomputedat
ratesnotlessthanthosecontainedinthewagedeterminationoftheSecretaryofLaborwhichisattachedheretoandmadeaparthereof,regardlessofanycontractualrelationshipwhichmaybeallegedtoexistbetweenthecontractorandsuchlaborersandmechanics.Asprovidedin29CFR
5.5(d)and(e),theappropriatewage determinationsareeffectivebyoperationoflawevenifthey
havenotbeenattachedtothecontract.ContributionsmadeorcostsreasonablyanticipatedforbonafidefringebenefitsundertheDavis-BaconAct(40U.S.C.3141(2)(B))onbehalfoflaborersormechanicsareconsideredwagespaidtosuchlaborersormechanics,subjecttotheprovisionsof
paragraph(a)(1)(v)ofthesecontractclauses;also,regularcontributionsmadeorcostsincurredfor
morethanaweeklyperiod(butnotlessoftenthanquarterly)underplans,funds,orprogramswhich
covertheparticularweeklyperiod,aredeemedtobeconstructivelymadeorincurredduringsuchweeklyperiod.Suchlaborersandmechanicsmustbepaidtheappropriatewagerateandfringebenefitsonthewagedeterminationfortheclassification(s)ofworkactuallyperformed,withoutregardtoskill,exceptasprovidedin29CFR5.5(a)(4).Laborersormechanicsperformingworkin
morethanoneclassificationmaybecompensatedattheratespecifiedforeachclassificationforthetimeactuallyworkedtherein:Provided,Thattheemployer'spayrollrecordsaccuratelysetforththetimespentineachclassificationinwhichworkisperformed.Thewagedetermination(includinganyadditionalclassificationsandwageratesconformedunder29CFR5.5(a)(1)(iii))and theDavis-Bacon
poster(WH-1321)mustbepostedataltimesbythecontractoranditssubcontractorsatthesiteoftheworkinaprominentandaccessibleplacewhereitcanbeeasilyseenbytheworkers.
fi,Frequentlyrecurringclassifications‘A.Inadditiontowageandfringebenefitratesthathavebeendeterminedtobeprevailingunder
theproceduressetforthin29CFRpart1,awagedeterminationmaycontain,pursuantto§1.3(f),wageandfringebenefitratesforclassificationsoflaborersandmechanicsforwhichconformancerequestsareregularlysubmittedpursuantto29CFR5.5(a)(2)(ii),providedthat:
1,Theworkperformedbytheclassificationisnotperformedbyaclassificationinthewagedeterminationforwhichaprevailingwageratehasbeendetermined;2.Theclassificationisusedintheareabytheconstructionindustry;and
3,Thewageratefortheclassificationbearsareasonablerelationshiptotheprevailingwagerates
containedinthewagedetermination.B,TheAdministratorwillestablishwageratesforsuchclassificationsinaccordancewith29CFR
'5.5(a)(1)(i)(A)(3).Workperformedinsuchaclassificationmustbepaidatnolessthanthewage
andfringebenefitratelistedonthewagedeterminationforsuchclassification.iii,Conformance
‘A.Thecontractingofficermustrequirethatanyclassoflaborersormechanics,includinghelpers,
whichisnotlistedinthewagedeterminationandwhichistobeemployedunderthecontractbe
Previouseditionsobsolete 1 FormHUD-4010,(10/2023)ref.Handbook1344.1

classifiedinconformancewiththewagedetermination.Conformanceofanadditionalclassification
‘andwagerateandfringebenefitsisappropriateonlywhenthefollowingcriteriahavebeenmet:1.Theworktobeperformedbytheclassificationrequestedisnotperformedbyaclassificationin
thewagedetermination;and2.Theclassificationisusedintheareabytheconstructionindustry;and3,Theproposedwagerate,includinganybonafidefringebenefits,bearsareasonablerelationshiptothewageratescontainedinthewagedetermin.
B.Theconformanceprocessmaynotbeusedtosplit,subdivide,orotherwiseavoidapplicationofclassificationslistedinthewagedetermination.. Ifthecontractorandthelaborersandmechanicstobeemployedintheclassification(ifknown),
ortheirrepresentatives,andthecontractingofficeragreeontheclassificationandwagerate(includingtheamountdesignatedforfringebenefitswhereappropriate),areportoftheactiontakenwillbesentbythecontractingofficerbyemailtoDBAconformance@dol.gov.The
‘Administrator,oranauthorizedrepresentative,willapprove,modify,ordisapproveeveryadditionalclassificationactionwithin30daysofreceiptandsoadvisethecontractingofficeror
willnotifythecontractingofficerwithinthe30-dayperiodthatadditionaltimeisnecessary.Intheeventthecontractor,thelaborersormechanicstobeemployedintheclassificationortheirrepresentatives,andthecontractingofficerdonotagreeontheproposedclassificationandwagerate(includingtheamountdesignatedforfringebenefits,whereappropriate),the
contractingofficerwill,byemailtoDBAconformance@dol.gov,referthequestions,includingtheviewsofallinterestedpartiesandtherecommendationofthecontractingofficer,tothe‘Administratorfordetermination.TheAdministrator,oranauthorizedrepresentative,willissue
adeterminationwithin30daysofreceiptandsoadvisethecontractingofficerorwillnotifythecontractingofficerwithinthe30-dayperiodthatadditionaltimeisnecessary.E.ThecontractingofficermustpromptlynotifythecontractoroftheactiontakenbytheWage
andHourDivisionunder29CFR5.5(a)(1)(il)(C)and(D).Thecontractormustfurnishawrittencopyofsuchdeterminationtoeachaffectedworkeroritmustbepostedasapartofthewagedetermination.Thewagerate(includingfringebenefitswhereappropriate)determinedpursuantto29CFR5.5(a)(1)(il)(C)or(D)mustbepaidtoallworkersperformingworkinthe
Classificationunderthiscontractfromthefirstdayonwhichworkisperformedinthe
classification.iv.FringebenefitsnotexpressedasanhourlyrateWhenevertheminimumwagerateprescribedinthecontractfora classoflaborersormechanicsincludesafringebenefitwhichisnotexpressedasanhourlyrate,thecontractormayeitherpaythe
benefitasstatedinthewagedeterminationormaypayanotherbonafidefringebenefitoranhourlycashequivalentthereof.
v. UnfundedplansIfthecontractordoesnotmakepaymentstoatrusteeorotherthirdperson,thecontractormayconsideraspartofthewagesofanylaborerormechanictheamountofanycostsreasonablytedinprovidingbonafidefringebenefitsunderaplanorprogram,Provided,Thatthe
SecretaryofLaborhasfound,uponthewrittenrequestofthecontractor,inaccordancewiththe
criteriasetforthin29CFR5.28,thattheapplicablestandardsoftheDavis-BaconActhavebeenmet.TheSecretaryofLabormayrequirethecontractortosetasideinaseparateaccountassetsforthe
meetingofobligationsundertheplanorprogram.InterestIntheeventofa failuretopayallorpartofthewagesrequiredbythecontract,the
contractorwillberequiredtopayinterestonanyunderpaymentofwages.

Previouseditionsobsolete 2 FormHUD-4010,(10/2023)ref.Handbook1344.1
2. Withholdingi.WithholdingrequirementsTheU.S.DepartmentofHousingandUrbanDevelopmentmay,uponitsownaction,ormust,upon
writtenrequestofanauthorizedrepresentativeoftheDepartmentofLabor,withholdorcausetobewithheldfromthecontractorsomuchoftheaccruedpaymentsoradvancesasmaybeconsidered
necessarytosatisfytheliabilitiesoftheprimecontractororanysubcontractorforthefullamountofwagesandmonetaryrelief,includinginterest,requiredbytheclausessetforthin29CFR5.5(a)forviolationsofthiscontract,ortosatisfyanysuchliabilitiesrequiredbyanyotherFederal
contract,orfederallyassistedcontractsubjecttoDavis-Baconlaborstandards,thatisheldbythesameprimecontractor(asdefinedin29CFR5.2).Thenecessaryfundsmaybewithheldfromthecontractorunderthiscontract,anyotherFederalcontractwiththesameprimecontractor,orany
otherfederallyassistedcontractthatissubjecttoDavis-Baconlaborstandardsrequirementsandisheldbythesameprimecontractor,regardlessofwhethertheothercontractwasawardedorassistedbythesameagency,andsuchfundsmaybeusedtosatisfythecontractorliabilityforwhich
‘thefundswerewithheld.Intheeventofacontractor'sfailuretopayanylaborerormechanic,includinganyapprenticeorhelperworkingonthesiteofthework(orotherwiseworkinginconstructionordevelopmentoftheprojectunderadevelopmentstatute)allorpartofthewages
requiredbythecontract,oruponthecontractor'sfailuretosubmittherequiredrecordsasdiscussedin29CFR5.5(a)(3)(iv),HUDmayonitsowninitiativeandafterwrittennoticetothecontractor,sponsor,applicant,owner,orotherentity,asthecasemaybe,takesuchactionasmay
benecessarytocausethesuspensionofanyfurtherpayment,advance,orguaranteeoffundsuntil
suchviolationshaveceased.ii,PrioritytowithheldfundsTheDepartmenthasprioritytofundswithheldortobewithheldinaccordancewith29CFR
5.5(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)inbankruptcyofa
contractor,oracontractor'sbankruptcyestate;D.Acontractor’sassignee(s);
E.Acontractor’ssuccessor(s);oFF.AclaimassertedunderthePromptPaymentAct,31U.S.
3. Recordsandcertifiedpayrollsi.Basicrecordrequirements‘A.Lengthofrecordretention.Allregularpayrollsandotherbasicrecordsmustbemaintainedbythecontractorandanysubcontractorduringthecourseoftheworkandpreservedforalllaborersandmechanicsworkingatthesiteofthework(orotherwiseworkinginconstruction
ordevelopmentoftheprojectunderadevelopmentstatute)foraperiodofatleast3years
afteralltheworkontheprimecontractiscompleted.B.InformationrequiredSuchrecordsmustcontainthename;SocialSecuritynumber;lastknownaddress,telephonenumber,andemailaddressofeachsuchworker;eachworker'scorrect
classification(s)ofworkactuallyperformed;hourlyratesofwagespaid(includingratesofcontributionsorcostsanticipatedforbonafidefringebenefitsorcashequivalentsthereofof
thetypesdescribedin40U.S.C.3141(2)(B)oftheDavis-BaconAct);dailyandweeklynumberofhoursactuallyworkedintotalandoneachcoveredcontract;deductionsmade;andactual
wagespaid.C.Additionalrecordsrelatingtofringebenefits.WhenevertheSecretaryofLaborhasfoundunder29CFR5.5(a)(1)(v)thatthewagesofanylaborerormechanicincludetheamountofany
Previouseditionsobsolete 3 FormHUD-4010,(10/2023)
ref.Handbook1344.1

3901-3907.
costsreasonablyanticipatedinprovidingbenefitsunderaplanorprogramdescribedin40,
U.S.C.3141(2)(B)oftheDavis-BaconAct,thecontractormustmaintainrecordswhichshowthatthecommitmenttoprovidesuchbenefitsisenforceable,thattheplanorprogramisfinanciallyresponsible,andthattheplanorprogramhasbeencommunicatedinwritingtothelaborersor
mechanicsaffected,andrecordswhichshowthecostsanticipatedortheactualcostincurred
inprovidingsuchbenefits.AdditionalrecordsrelatingtoapprenticeshipContractorswithapprenticesworkingunder
approvedprogramsmustmaintainwrittenevidenceoftheregistrationofapprenticeshipprograms,theregistrationoftheapprentices,andtheratiosandwageratesprescribedinthe
applicableprograms.ii,Certifiedpayrollrequirements‘A.FrequencyandmethodofsubmissionThecontractororsubcontractormustsubmitweekly,foreachweekinwhichanyDBA-orRelatedActs-coveredworkisperformed,certified
payrollstoHUDiftheagencyisapartytothecontract,butiftheagencyisnotsuchaparty,thecontractorwillsubmitthecertifiedpayrollstotheapplicant,sponsor,owner,orotherentity,asthecasemaybe,thatmaintainssuchrecords,fortransmissiontoHUD.Theprime
contractorisresponsibleforthesubmissionofallcertifiedpayrollsbyallsubcontractors.Acontractingagencyorprimecontractormaypermitorrequirecontractorstosubmitcertifiedpayrollsthroughanelectronicsystem,aslongastheelectronicsystemrequiresalegallyvalid
electronicsignature;thesystemallowsthecontractor,thecontractingagency,andtheDepartmentofLabortoaccessthecertifiedpayrollsuponrequestforatleast3yearsaftertheworkontheprimecontracthasbeencompleted;andthecontractingagencyorprime
contractorpermitsothermethodsofsubmissioninsituationswherethecontractorisunableorlimitedinitsabilitytouseoraccesstheelectronicsystem8.InformationrequiredThecertifiedpayrollssubmittedmustsetoutaccuratelyandcompletelyalloftheinformationrequiredtobemaintainedunder29CFR5.5(a)(3)(i)(B),exceptthatfull
SocialSecuritynumbersandlastknownaddresses,telephonenumbers,andemailaddresses‘mustnotbeincludedonweeklytransmittals.Instead,thecertifiedpayrollsneedonlyincludeanindividuallyidentifyingnumberforeachworker(e.g.,thelastfourdigitsoftheworker's
SocialSecuritynumber).TherequiredweeklycertifiedpayrollinformationmaybesubmittedusingOptionalFormWH-347orinanyotherformatdesired.OptionalFormWH-347is.availableforthispurposefromtheWageandHourDivisionWebsiteathttps://www.dol.gow/
sites/dolaov/files/WHD/leqacy/files/wh347.pdforitssuccessorwebsite.ItisnotaviolationofthissectionforaprimecontractortorequireasubcontractortoprovidefullSocialSecurity
numbersandlastknownaddresses,telephonenumbers,andemailaddressestotheprimecontractorforitsownrecords,withoutweeklysubmissionbythesubcontractortothesponsoringgovernmentagency(ortheapplicant,sponsor,owner,orotherentity,asthecase
maybe,thatmaintainssuchrecords).C.StatementofComplianceEachcertifiedpayrollsubmittedmustbeaccompaniedbya
“StatementofCompliance,”signedbythecontractororsubcontractor,orthecontractor'sorsubcontractor’sagentwhopaysorsupervisesthepaymentofthepersonsworkingonthe
contract,andmustcertifythefollowing:1, Thatthecertifiedpayrollforthepayrollperiodcontainstheinformationrequiredtobe
providedunder29CFR5.5(a)(3)(ii),theappropriateinformationandbasicrecordsarebeingmaintainedunder29CFR5.5(a)(3)(i),andsuchinformationandrecordsarecorrectand
complete;2. Thateachlaborerormechanic(includingeachhelperandapprentice)workingonthecontractduringthepayrollperiodhasbeenpaidthefullweeklywagesearned,withoutrebate,either
directlyorindirectly,andthatnodeductionshavebeenmadeeitherdirectlyorindirectly

Previouseditionsobsolete 4 FormHUD-4010,(10/2023)ref.Handbook1344.1
3.
gE

G.

fromthefullwagesearned,otherthanpermissibledeductionsassetforthin29CFRpart3;
andThateachlaborerormechanichasbeenpaidnotlessthantheapplicablewageratesandfringebenefitsorcashequivalentsfortheclassifications)ofworkactuallyperformed,asspecifiedintheapplicablewagedeterminationincorporatedintothecontract.
UseofOptionalFormWH-347Theweeklysubmissionofa properlyexecutedcertificationsetforthonthereversesideofOptionalFormWH-347willsatisfytherequirementfor
submissionofthe“StatementofCompliance”requiredby29CFR5.5(a)(3)(iN(C).SignatureThesignaturebythecontractor,subcontractor,orthecontractor'sorsubcontractor’sagentmustbeanoriginalhandwrittensignatureoralegallyvalidelectronic
signature.FalsificationThefalsificationofanyoftheabovecertificationsmaysubjectthecontractororsubcontractortocivilorcriminalprosecutionunder18U.S.C.1001and31U.S.C,3729.
LengthofcertifiedpayrollretentionThecontractororsubcontractormustpreserveallcertifiedpayrollsduringthecourseoftheworkandfora periodof3 yearsafterallthework
ontheprimecontractiscompleted.

Contracts,subcontracts,andrelateddocumentsThecontractororsubcontractormustmaintainthis
contractorsubcontractandrelateddocumentsincluding,withoutlimitation,bids,proposals,amendments,modifications,andextensions.Thecontractororsubcontractormustpreservethese
contracts,subcontracts,andrelateddocumentsduringthecourseoftheworkandforaperiodof3
yearsafteralltheworkontheprimecontractiscompleted,
ivRequireddisclosuresandaccessA RequiredrecorddisclosuresandaccesstoworkersThecontractororsubcontractormust
maketherecordsrequiredunder29CFR5.5(a)(3)(i)-(ii),andanyotherdocumentsthatHUDortheDepartmentofLabordeemsnecessarytodeterminecompliancewiththelaborstandardsprovisionsofanyoftheapplicablestatutesreferencedby29CFR5.1,availableforinspection,copying,ortranscriptionbyauthorizedrepresentativesofHUDorthe
DepartmentofLabor,andmustpermitsuchrepresentativestointerviewworkersduring
workinghoursonthejob.Sanctionsfornon-compliancewithrecordsandworkeraccessrequirementsIfthecontractororsubcontractorfailstosubmittherequiredrecordsortomakethemavailable,orrefusestopermitworkerinterviewsduringworkinghoursonthejob,theFederalagencymay,afterwrittennoticetothecontractor,sponsor,applicant,owner,orotherentity,asthe
casemaybe,thatmaintainssuchrecordsorthatemployssuchworkers,takesuchactionas‘maybenecessarytocausethesuspensionofanyfurtherpayment,advance,orguaranteeof
funds.Furthermore,failuretosubmittherequiredrecordsuponrequestortomakesuchrecordsavailable,ortopermitworkerinterviewsduringworkinghoursonthejob,maybegroundsfordebarmentactionpursuantto29CFR5.12.Inaddition,anycontractororother
personthatfailstosubmittherequiredrecordsormakethoserecordsavailabletoWHDwithinthetimeWHOrequeststhattherecordsbeproducedwillbeprecludedfrom
introducingasevidenceinanadministrativeproceedingunder29CFRpart6anyoftherequiredrecordsthatwerenotprovidedormadeavailabletoWHD.WHDwilltakeinto
considerationareasonablerequestfromthecontractororpersonforanextensionofthetimeforsubmissionofrecords.WHOwilldeterminethereasonablenessoftherequestand
‘mayconsider,amongotherthings,thelocationoftherecordsandthevolumeof
production.RequiredinformationdisclosuresContractorsandsubcontractorsmustmaintainthefullSocialSecuritynumberandlastknownaddress,telephonenumber,andemailaddressof
eachcoveredworker,andmustprovidethemuponrequesttoHUDiftheagencyisapartyto

Previouseditionsobsolete 5 FormHUD-4010,(10/2023)
ref.Handbook1344.1
thecontract,ortotheWageandHourDivisionoftheDepartmentofLabor.iftheFederalagencyisnotsuchapartytothecontract,thecontractor,subcontractor,orboth,must,
uponrequest,providethefullSocialSecuritynumberandlastknownaddress,telephonenumber,andemailaddressofeachcoveredworkertotheapplicant,sponsor,owner,or
otherentity,asthecasemaybe,thatmaintainssuchrecords,fortransmissiontoHUD,thecontractor,ortheWageandHourDivisionoftheDepartmentofLaborforpurposesofan
investigationorothercomplianceaction,4. Apprenticesandequalemploymentopportunity
i.Apprentices
A

RateofpayApprenticeswillbepermittedtoworkatlessthanthepredeterminedratefor
theworktheyperformwhentheyareemployedpursuanttoandindividuallyregisteredinabonafideapprenticeshipprogramregisteredwiththeU.S.DepartmentofLabor,EmploymentandTrainingAdministration,OfficeofApprenticeship(OA),orwithaState
ApprenticeshipAgencyrecognizedbytheOA.Apersonwhoisnotindividuallyregisteredintheprogram,butwhohasbeencertifiedbytheOAoraStateApprenticeshipAgency(whereappropriate)tobeeligibleforprobationaryemploymentasanapprentice,willbe
permittedtoworkatlessthanthepredeterminedratefortheworktheyperforminthefirst90daysofprobationaryemploymentasanapprenticeinsuchaprogram.IntheeventtheOAoraStateApprenticeshipAgencyrecognizedbytheOAwithdrawsapprovalofan
apprenticeshipprogram,thecontractorwillnolongerbepermittedtouseapprenticesatlessthantheapplicablepredeterminedratefortheworkperformeduntilanacceptableprogramisapproved.
FringebenefitsApprenticesmustbepaidfringebenefitsinaccordancewiththeprovisionsoftheapprenticeshipprogram.Iftheapprenticeshipprogramdoesnotspecifyfringebenefits,apprenticesmustbepaidthefullamountoffringebenefitslistedonthewage
determinationfortheapplicableclassification.IftheAdministratordeterminesthatadifferentpracticeprevailsfortheapplicableapprenticeclassification,fringebenefitsmustbepaidinaccordancewiththatdetermination.‘ApprenticeshipratioTheallowableratioofapprenticestojourneyworkersonthejobsitein
anycraftclassificationmustnotbegreaterthantheratiopermittedtothecontractorastotheentireworkforceundertheregisteredprogramor theratioapplicabletothelocalityoftheprojectpursuantto29CFR5.5(a)(4)(i)(0).Anyworkerlistedonapayrollatan
apprenticewagerate,whoisnotregisteredorotherwiseemployedasstatedin29CFR5.5(a)(4)(i)(A),mustbepaidnotlessthantheapplicablewagerateonthewage
determinationfortheclassificationofworkactuallyperformed.Inaddition,anyapprenticeperformingworkonthejobsiteinexcessoftheratiopermittedunderthissectionmustbepaidnotlessthantheapplicablewagerateonthewagedeterminationfortheworkactually
performed.ReciprocityofratiosandwageratesWhereacontractorisperformingconstructiononaprojectinalocalityotherthanthelocalityinwhichitsprogramisregistered,theratiosand
wagerates(expressedinpercentagesofthejourneyworker’shourlyrate)applicablewithinthelocalityinwhichtheconstructionisbeingperformedmustbeobserved.ifthereisno
applicableratioorwagerateforthelocalityoftheproject,theratioandwageratespecified
inthecontractor'sregisteredprogrammustbeobserved.

iiEqualemploymentopportunityTheuseofapprenticesandjourneyworkersunderthispartmust
beinconformitywiththeequalemploymentopportunityreq

smentsofExecutiveOrder11246,
asamended,and29CFRpart30.5 CompliancewithCopelandActrequirements.Thecontractorshallcomplywiththerequirementsof29
CFRpart3,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.Theprime
contractorisresponsibleforthecompliancebyanysubcontractororlowertiersubcontractorwithallthecontractclausesinthissection.Intheeventofanyviolationsoftheseclauses,theprimecontractorandanysubcontractor(s)responsiblewillbeliableforanyunpaidwagesandmonetaryrelief,including
interestfromthedateoftheunderpaymentorloss,duetoanyworkersoflower-tiersubcontractors,andmaybesubjecttodebarment,asappropriate.7 Contracttermination:debarment.Abreachofthecontractclausesin29CFR5.5maybegroundsfor
terminationofthecontract,andfordebarmentasacontractorandasubcontractorasprovidedin29CFR5.12.8 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'sfirmisapersonorfirmineligibletobeawardedGovernment.contractsbyvirtueof40 U.S.C.3144(b)or29CFR5.12(a).li.Nopartofthiscontractshallbesubcontractedtoanypersonorfirmineligibleforawardofa
Governmentcontractbyvirtueof40U.S.C.3144(b)or29CFR5.12(a).
Ii,ThepenaltyformakingfalsestatementsisprescribedintheU.S.Code,Title18Crimesand.
CriminalProcedure,18U.S.C,1001.11 Anti-retaliationItisunlawfulforanypersontodischarge,demote,intimidate,threaten,restrain,coerce,blacklist,harass,orinanyothermannerdiscriminateagainst,ortocauseanypersontodischarge,demote,intimidate,threaten,restrain,coerce,blacklist,harass,orinanyothermanner
discriminateagainst,anyworkerorjobapplicantfor:i.Notifyinganycontractorofanyconductwhichtheworkerreasonablybelievesconstitutesa
violationoftheDBA,RelatedActs,or29CFRparts1,3,or5;fi,Filinganycomplaint,initiatingorcausingtobeinitiatedanyproceeding,orotherwiseassertingorseekingtoassertonbehalfofthemselvesorothersanyrightorprotectionundertheDBA,
RelatedActs,or29CFRparts1,3,or5;iii,Cooperatinginanyinvestigationorothercomplianceaction,ortestifyinginanyproceedingunder
theDBA,RelatedActs,or29CFRparts1,3,or5;oriv.InforminganyotherpersonabouttheirrightsundertheDBA,RelatedActs,or29CFRparts1,3,
ors.B. ContractWorkHoursandSafetyStandardsAct(CWHSSA)
TheAgencyHeadmustcauseorrequirethecontractingofficertoinsertthefollowingclausessetforthin29CFR5.5(b)(2),(2),(3),(4),and(5)infull,or(forcontractscoveredbytheFederal
‘AcquisitionRegulation)byreference,inanycontractinanamountinexcessof$100,000andsubjecttotheovertimeprovisionsoftheContractWorkHoursandSafetyStandardsAct.Theseclausesmust

Previouseditionsobsolete 7 FormHUD-4010,(10/2023)
ref.Handbook1344.1
4,
beinsertedinadditiontotheclausesrequiredby29CFR5.5(a)or4.6.Asusedinthisparagraph,the
terms“laborersandmechanics”includewatchpersonsandguards.
1.Overtimerequirements.Nocontractororsubcontractorcontractingforanypartofthecontract
workwhichmayrequireorinvolvetheemploymentoflaborersormechanicsshallrequireorpermitanysuchlaborerormechanicinanyworkweekinwhichheorsheisemployedonsuch
worktoworkinexcessoffortyhoursinsuchworkweekunlesssuchlaborerormechanicreceives
compensationataratenotlessthanoneandone-halftimesthebasicrateofpayforallhoursworkedinexcessoffortyhoursinsuchworkweek.
2.Violation;liabilityforunpaidwages;liquidateddamages.Intheeventofanyviolationofthe
clausesetforthin29CFR5.5(b)(1)thecontractorandanysubcontractorresponsiblethereforshallbeliablefortheunpaidwagesandinterestfromthedateoftheunderpayment.Inaddition,
suchcontractorandsubcontractorshallbeliabletotheUnitedStates(inthecaseofworkdoneundercontractfortheDistrictofColumbiaoraterritory,tosuchDistrictortosuchterritory),forliquidateddamages.Suchliquidateddamagesshallbecomputedwithrespecttoeachindividual
laborerormechanic,includingwatchpersonsandguards,employedinviolationoftheclauseset
forthin29CFR5.5(b)(1),inthesumof$31foreachcalendardayonwhichsuchindividualwasrequiredorpermittedtoworkinexcessofthestandardworkweekoffortyhourswithoutpaymentoftheovertimewagesrequiredbytheclausesetforthin29CFR5.5(b)(1)..
3. Withholdingforunpaidwagesandliquidateddamagesi. WithholdingprocessTheU.SDepartmentofHousingandUrbanDevelopmentortherecipientof
Federalassistancemay,uponitsownaction,ormust,uponwrittenrequestofanauthorized
representativeoftheDepartmentofLabor,withholdorcausetobewithheldfromthecontractor
somuchoftheaccruedpaymentsoradvancesasmaybeconsiderednecessarytosatisfytheliabilitiesoftheprimecontractororanysubcontractorforanyunpaidwages;monetaryrelief,includinginterest;andliquidateddamagesrequiredbytheclausessetforthin29CFR5.5(b)on
thiscontract,anyotherFederalcontractwiththesameprimecontractor,oranyotherfederallyassistedcontractsubjecttotheContractWorkHoursandSafetyStandardsActthatisheldbythesameprimecontractor(asdefinedin29CFR5.2).Thenecessaryfundsmaybewithheldfromthe
contractorunderthiscontract,anyotherFederalcontractwiththesameprimecontractor,oranyotherfederallyassistedcontractthatissubjecttotheContractWorkHoursandSafetyStandards‘Actandisheldbythesameprimecontractor,regardlessofwhethertheothercontractwas
awardedorassistedbythesameagency,andsuchfundsmaybeusedtosatisfythecontractorliabilityforwhichthefundswerewithheld.
ii_PrioritytowithheldfundsTheDepartmenthasprioritytofundswithheldortobewithheldin
accordancewith29CFR5.5(a)(2)(i)or(b)(3)(i),orboth,overclaimstothosefundsby:‘A.Acontractor’ssurety(ies),includingwithoutlimitationperformancebondsuretiesand.
paymentbondsureties;B.Acontractingagencyforitsreprocurementcosts;€. Atrustee(s)(eitheracourt-appointedtrusteeoraU.S.trustee,orboth)inbankruptcyof a
contractor,oracontractor'sbankruptcyestate;
D.Acontractor’sassignee(s};E. Acontractor’ssuccessor(s);orF. AclaimassertedunderthePromptPaymentAct,31U.S.C,3901-3907.
Subcontracts.Thecontractororsubcontractormustinsertinanysubcontractstheclausessetforthin
29CFR5.5(b)(1)through(5)andaclauserequiringthesubcontractorstoincludetheseclausesinany
lowertiersubcontracts,Theprimecontractorisresponsibleforcompliancebyanysubcontractoror
lowertiersubcontractorwiththeclausessetforthin29CFR5.5(b)(1)through(5).Intheeventofany
violationsoftheseclauses,theprimecontractorandanysubcontractor(s)responsiblewillbeliablefor
anyunpaidwagesandmonetaryrelief,includinginterestfromthedateoftheunderpaymentorloss,
Previouseditionsobsolete 8 FormHUD-4010,(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:i. Notifyinganycontractorofanyconductwhichtheworkerreasonablybelievesconstitutesa
violationoftheContractWorkHoursandSafetyStandardsAct(CWHSSA)oritsimplementing.
regulationsin29CFRpart5;ii,Filinganycomplaint,initiatingorcausingtobeinitiatedanyproceeding,orotherwiseasserting
orseekingtoassertonbehalfofthemselvesorothersanyrightorprotectionunderCWHSSAor
29CFRpart5;iil,Cooperatinginanyinvestigationorothercomplianceaction,ortestifyinginanyproceeding
underCWHSSAor29CFRpart5;oriv.InforminganyotherpersonabouttheirrightsunderCWHSSAor29CFRpart5.
C. CWHSSArequiredrecordsclauseInadditiontotheclausescontainedin29CFR5.5(b),inanycontractsubjectonlytotheContractWorkHoursandSafetyStandardsActandnottoanyoftheotherlawsreferencedby29CFR5.1,theAgencyHeadmustcauseorrequirethecontractingofficertoinsertaclauserequiringthatthecontractororsubcontractormustmaintainregularpayrollsandotherbasic
recordsduringthecourseoftheworkandmustpreservethemforaperiodof3yearsafteralltheworkontheprimecontractiscompletedforalllaborersandmechanics,includingguardsandwatchpersons,‘workingonthecontract.Suchrecordsmustcontainthename;lastknownaddress,telephonenumber,
andemailaddress;andsocialsecuritynumberofeachsuchworker;eachworker'scorrectclassification(s)ofworkactuallyperformed;hourlyratesofwagespaid;dailyandweeklynumberofhoursactuallyworked;deductionsmadeandactualwagespaid.Further,theAgencyHeadmustcause
orrequirethecontractingofficertoinsertinanysuchcontractaclauseprovidingthattherecordstobemaintainedunderthisparagraphmustbemadeavailablebythecontractororsubcontractorforinspection,copying,ortranscriptionbyauthorizedrepresentativesofthe(writethenameofagency)andtheDepartmentofLabor,andthecontractororsubcontractorwillpermitsuchrepresentativesto
interviewworkersduringworkinghoursonthejob.D. IncorporationofcontractclausesandwagedeterminationsbyreferenceAlthoughagenciesare
requiredtoinsertthecontractclausessetforthinthissection,alongwithappropriatewagedeterminations,infullintocoveredcontracts,andcontractorsandsubcontractorsarerequiredtoinserttheminanylower-tiersubcontracts,theincorporationbyreferenceoftherequiredcontractclauses
andappropriatewagedeterminationswillbegiventhesameforceandeffectasiftheywereinsertedin
fulltext.E. IncorporationbyoperationoflawThecontractclausessetforthinthissection(ortheirequivalentundertheFederalAcquisitionRegulation),alongwiththecorrectwagedeterminations,willbeconsideredtobeapartofeveryprimecontractrequiredbytheapplicablestatutesreferencedby29
CFR5.1toincludesuchclauses,andwillbeeffectivebyoperationoflaw,whetherornottheyareincludedorincorporatedbyreferenceintosuchcontract,unlesstheAdministratorgrantsavariance,
tolerance,orexemptionfromtheapplicationofthisparagraph.Wheretheclausesandapplicablewagedeterminationsareeffectivebyoperationoflawunderthisparagraph,theprimecontractormustbe
compensatedforanyresultingincreaseinwagesinaccordancewithapplicablelaw.

Previouseditionsobsolete 9 FormHUD-4010,(10/2023)
ref.Handbook1344.1
F.HEALTHANDSAFETYTheprovisionsofthisparagraph(F)areapplicablewheretheamountoftheprimecontractexceeds
$100,000.
Nolaborerormechanicshallberequiredtoworkinsurroundingsorunderworkingconditionswhichareunsanitary,hazardous,ordangeroustohisorherhealthandsafety,asdeterminedunderconstruction
safetyandhealthstandardspromulgatedbytheSecretaryofLaborbyregulation.ThecontractorshallcomplywithallregulationsissuedbytheSecretaryofLaborpursuantto29CFRPart1926andfailuretocomplymayresultinimpositionofsanctionspursuanttotheContractWorkHoursandSafetyStandardsAct,(PublicLaw91-54,83Stat96),40U.S.C.§3701etseq.
‘Thecontractorshallincludetheprovisionsofthisparagraphineverysubcontract,sothatsuchprovisionswillbebindingoneachsubcontractor.Thecontractorshalltakesuchactionwithrespecttoany
subcontractorastheSecretaryofHousingandUrbanDevelopmentortheSecretaryofLaborshalldirectas
ameansofenforcingsuchprovisions.
Previouseditionsobsolete 10 FormHUD-4010,(10/2023)ref.Handbook1344.1
EXHIBIT E
DAVIS-BACON WAGE DETERMINATION
[Attached]
El4861-0690-8185,v.7
"General

Number: ;pc20250002 BuildingDecisionNo.:DC20250002
09/12/2025 ModificationNo.:10
dipeieeded PublicationDate:9/12/2025
General ‘Locked:inDate:10/22/2025
Decision LABORSTANDARD-Constructionmuststartby4/22/2026,otherwiseanewWage
Number: Decisionmustbeassigned.
Azbe20002 MONITORSFabianFurr(Field/Admin)Office#(202)442-7293&WorkCell#(202)329-
4an7State:
District of
Columbia
Construction
Type: Building
County: Districtof Columbia Statewide.
BUILDING CONSTRUCTION PROJECTS (does not include single
familyhomes or apartmentsup to and including4 stories).
Note: Contractssubject to the Davis-BaconAct 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 subjectonly to the Davis-BaconRelated Acts,
including those set forth at 29 CFR 5.1(a)(1).

[If the contract is entered |. ExecutiveOrder 14026
|jinto on or after January 30, | generallyapplies to the
|
12022, or the contract is | contract.
'
|renewed or extended (e.g., an
|
loption is exercised) on or
|
jafter January 30, 2022:
YI£ the contractwas awarded on|.
lor between January 1, 2015 and|
|
|January 29, 2022, and the
|
(contract is not renewed or
all|
[extended on or after January
|
130, 2022:
|
|
listed]
|
determination, |
|
|
|
!
1
|
|
The contractor must pay
all coveredworkersat
least $17.75 per hour (or
the applicablewage rate
listed on this wage
determination,if it is
higher)for all hours
spentperformingon the
contract in 2025.
ExecutiveOrder 13658
generallyapplies to the
contract.
The contractormust pay
coveredworkers at 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 contractis coveredby one of
theExecutive Orders and a classificationconsiderednecessary
for
performanceof work on the contractdoes not appear on this
wage determination,the contractormust still submit a
conformancerequest.
Additional informationon contractorrequirementsand
worker
protections under the ExecutiveOrders is availableat
http://www.dol.gov/whd/govcontracts.
Modification Number Publication Date
01/03/2025
01/10/2025
01/24/2025
02/14/2025
02/21/2025
05/30/2025
06/13/2025
07/04/2025
08/01/2025
08/29/2025
0 09/12/2025BReaIranuswrnro
ASBE0024-007 10/01/2024
Rates Fringes
ASBESTOS WORKER/HEAT & FROST
INSULATOR 20.17+a

Includesthe applicationof all insulatingmaterials,
protectivecoverings,coatingsand finishesto all types
ofmechanical systems
a. PAID HOLIDAYS:New Year'sDay, MartinLutherKing Day,
MemorialDay, IndependenceDay, Labor Day,Veterans'Day,
ThanksgivingDay,the day afterThanksgivingand Christmas
Day providedthe employeeworks the regularwork day
beforeand after the paid holiday.

ASBE0024-008 10/01/2024
Rates Fringes
ASBESTOS WORKER: HAZARDOUS
MATERIAL HANDLER.....+-+e+eeeeee $ 24.46 10.19+a
Includespreparation,wetting, stripping,removal,
scrapping,vacuuming,bagging and disposingof 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,theday after Thanksgivingand Christmas
Day providedthe employeeworks the regularwork day
beforeand afterthe paid holiday.

ASBE0024-014 10/01/2024

Rates Fringes
FIRESTOPPER...s¢seeeeneeteerecees $ 30.21 10.43+a
Includesthe applicationof materialsor deviceswithin
oraround penetrationsand openings in all rated wall or
floor
assemblies,in order to prevent the pasage of fire, smoke
of other gases. The applicationincludesall components
involvedin creating the rated barrier at perimeter slab
edges and exterior cavities,the head of gypsum board or
concretewalls, joints between rated wall or floor
components,sealingof penetratingitemsand blank
openings.
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.

BRDCO0001-002 04/27/2025
Rates Fringes
BRICKLAYER

CARP0197-011 05/01/2024
Rates Fringes
CARPENTER, IncludesDrywall
Hanging, Form Work, and Soft
Floor Laying-Carpet..

+$ 34.41 14.33

CARP0219-001 05/01/2025
Rates Fringes
MILLWRIGHT

CARP0474-006 05/01/2024
Rates
PILEDRIVERMAN -$ 36.60

ELECO026-016 06/05/2023
Rates Fringes
ELECTRICIAN, Includes
Installation of
HVAC/Temperature Controls........$ 53.00 21.35

ELECO026-017 09/02/2024
Rates Fringes
ELECTRICAL INSTALLER (Sound
& Communication Systems)......... $ 32.60 12.92
SCOPEOF WORK: Includeslow voltageconstruction,installation,maintenanceand removalof teledata
facilities(voice,data and video)includingoutside
plant,
telephoneand data insidewire, interconnect,terminal
equipment,centraloffices,PABX,fiberopticcableand
equipment,railroadcommunications,micro waves,VSAT,
bypass,CATV,WAN (Widearea networks),LAN (Localarea
networks)and ISDN (Integratedsystemsdigitalnetwork).
WORK EXCLUDED:The installationof computersystemsin
industrialapplicationssuch as assemblylines,robotics
and computercontrollermanufacturingsystems. The
installationof conduitand/orracewaysshallbe
installedby InsideWiremen.On siteswhere there is no Inside
Wiremanemployed,the TeledataTechnicianmay install
racewayor conduitnot greaterthan 10 feet.Fire alarm
work is excludedon all new constructionsitesor
whereverthe fire alarm systemis installedin conduit. All HVAC
controlwork.

ELEVO010-00101/01/2025
Rates Fringes
ELEVATOR MECHANIC....--.-.+eeeeeee$ 57.16 38.435tatb
a. PAID HOLIDAYS:New Year'sDay, MemorialDay,
Independence
Day, Labor Day, Veterans’Day, ThanksgivingDay,ChristmasDay and the FridayafterThanksgiving.
b. VACATIONS: Employer contributes 8% of basic hourly
rate
for 5 years or more of service;6% of basichourlyrate
for
6 monthsto 5 yearsof serviceas vacationpay credit.

TRONO005-00506/01/2024
Rates Fringes
TRONWORKER, STRUCTURAL AND
ORNAMENTAL ree -$ 37.86 25.86

TRONOO05-012 05/01/2024
Rates Fringes
IRONWORKER, REINFORCING... -$ 31.88 23.78

* LABOO011-009 06/01/2025
Rates Fringes
LABORER: Skilled. -$ 30.47 8.70

FOOTNOTE: Potmen,power tool operator,small machine
operator, signalmen,laser beam operator,waterproofer
(excludingroofing),open caisson, test pit,
underpinning,
pier hole and ditches, laggersand all work associated
with
lagging that is not expresslystated, strippers,operator
of hand derricks,vibrator operators,pipe layers,or
tilelayers,operators of jackhammers,paving breakers,
spaders
or any machine that does the same general type of work,
carpentertenders, scaffoldbuilders,operatorsof
towmasters,scootcretes,buggymobilesand other machines
ofsimilar character,operatorsof tampers and rammers and
other machines that do the same general type of work,
whether powered by air, electricor gasoline,builders of
trestle scaffoldsover one tier high and sand blasters,
power and chain saw operatorsused in clearing,
installersof well points, wagon drill operators,acetyleneburners
and licensedpowdermen,stake jumper,demolition.

MARBO002-004 04/27/2025
Rates Fringes
MARBLE/STONE MASON.........+0+005 $ 45.65 21.21
INCLUDINGpointing, caulking and cleaning of All types of
masonry, brick, stone and cement EXCEPT pointing,
caulking,
cleaningof existingmasonry, brick, stone and cement
(restorationwork)

MARB0003-006 04/27/2025
TERRAZZO WORKER/SETTER

MARBO003-007 04/27/2025
Rates Fringes
TERRAZZO FINISHER -$ 28.85 12.55

MARBOO03-008 04/27/2025
Rates Fringes
TILE SETTER...

MARB0003-009 04/27/2025
Rates Fringes
TILE FINISHER.

+$ 28.85 12.55

* PAINOOS51-014 06/01/2025
Rates Fringes
GLAZIER
Glazing Contracts $2
million and under...........$ 32.41 14.46
Glazing Contractsover $2
million.. 14.46

* PAINOO51-015 06/01/2025
Rates Fringes
PAINTER
Brush, Roller, Spray and
DrywallFinisher
PLAS0891-005 07/01/2023
Rates Fringes
PLASTERER (Including
Fireproofing)so sie ieadas caeeee$ 31.83 8.96

PLASO0891-006 02/01/2024
Rates

CEMENT MASON/CONCRETE FINISHER...$ 30.25

PLUM0005-010 08/01/2025
Rates Fringes
PLUMBER(4 eet eseoekebas-Avscette $ 53.30 23.71+a
a. PAID HOLIDAYS: Labor Day, Veterans’ Day, Thanksgiving
Day
and the day after Thanksgiving,Christmas Day, New Year's
Day, Martin Luther King's Birthday,Memorial Day and the
Fourth of July.

* PLUMO602-008 08/01/2025
Rates Fringes
PIPEFITTER, Includes HVAC
Pipe Installation......... seteeee$ 55.00 24.46+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.

ROOFO030-016 07/01/2025
Rates Fringes
ROOFER 14.91

SFDC0669-00204/01/2025
Rates Fringes
SPRINKLER FITTER (Fire
Sprinklers)..
+$ 45.22

SHEEO100-015 11/01/2023
Rates Fringes
SHEET METAL WORKER (Including
HVAC Duct Installation).......... $ 47.92 22.72+a
a. PAID HOLIDAYS:New Year's Day, Martin Luther King's
Birthday,Memorial Day, IndependenceDay, Labor Day,
Veterans Day, ThanksgivingDay and ChristmasDay

* —suDC2009-003 05/19/2009
Rates Fringes
LABORER: Common or General...... $ 13.04 ** 2.80
LABORER: Mason Tender -
Cement/Concrete........ seeeeeeeee $ 15.40 ** 2.85
LABORER: Mason Tender for
pointing, caulking,cleaning
of existing masonry, brick,
stone and cement structures
(restoration work); excludes
pointing, caulking and
cleaning of new or
replacement masonry, brick,
stone and cement......seseeeeeeee$ 12,67 #*
POINTER,CAULKER,CLEANER,
Includespointing,caulking,
cleaningof existingmasonry,
brick, stoneand cement
structures (restoration
work); excludespointing,caulking,cleaningof new or
replacement
masonry, brick, stone or
cement -$ 18.88

WELDERS - Receive rate prescribed for craft performing
operation to which welding is incidental.

** Workers in this classification may be entitled to a
higherminimum wage under Executive Order 14026 ($17.75) or 13658
($13.30). Please see the Note at the top of the wage
determinationfor more information.Please also note that
the
minimum wage requirementsof ExecutiveOrder 14026 are not
currently being enforced as to any contractor subcontract
to
which the states of Texas, Louisiana,or Mississippi,
including
their 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 (and any
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.
Employees must be permitted to use paid sick leave for
their
own illness, injury or other health-relatedneeds,
including
preventive care; 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
reasonsresulting from, or to assist a family member (or person who
is
like family to the employee)who is a victim of, domestic
violence, sexual assault, or stalking. Additional
information
on contractorrequirementsand worker protectionsunder the
EO
is available at
https://www.dol.gov/agencies/whd/government-contracts.
Unlisted classificationsneeded for work not included
withinthe scope of the classificationslisted may be added after
award only as provided in the labor standardscontract
clauses
(29CFR 5.5 (a) (1) (iii)).

The body of each wage determinationlists the
classifications
and wage rates that have been found to be prevailingfor
the
type(s) of constructionand geographicarea coveredby the
wage
determination.The classificationsare listed in
alphabetical
order under rate identifiersindicatingwhether the
particular
rate is a union rate (currentunion negotiatedrate), a
survey
rate, a weighted union average rate, a state adopted rate,
ora
supplementalclassificationrate.
Union Rate Identifiers
A four-letteridentifierbeginningwith charactersother
than“"su"",“"UAVG"",2SA2,or ?SC? denotesthat a union rate
wasprevailingfor that classificationin the survey.Exampl
PLUM0198-00507/01/2024.PLUM is an identifierof the unionwhose collectivelybargainedrate prevailedin the survey
forthis classification,which in this examplewouldbe
Plumbers.0198 indicatesthe localunion numberor districtcouncil
number where applicable,i.e., PlumbersLocal 0198.The
nextnumber,005 in the example,is an internalnumberused in
processingthe wage determination,The date, 07/01/2024in
theexample,is the effectivedate of the most current
negotiated
rate.

Union prevailingwage ratesare updatedto reflectall
changesover time that are reportedto WHD in the rates
in the collectivebargainingagreement(CBA)governingthe
classification.
Union AverageRate Identifiers
The UAVG identifier indicates that no single rate prevailed
forthose classifications, 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, indicates the date the wage determination
wasupdated to reflect the most current union average rate.
A UAVG rate will be updatedonce a year,usuallyin
January,toreflecta weightedaverageof the currentrates in the
collectivebargainingagreementson which the rate is
based.
Survey Rate Identifiers

Theunionrate prevailed(asdefinedin 29 CFR 1.2) for this
classificationin the surveyor that the rate was derived
bycomputinga weightedaveragerate based on all the rates
reportedin the surveyfor that classification.As a
weightedaveragerate includesall ratesreportedin the survey,it
mayincludeboth union and non-unionrates.Example:SUFL2022-
0076/27/2024.SU indicatesthe rate is a singlenon-unionprevailingrate or a weightedaverageof surveydata for
that
classification.FL indicatesthe Stateof Florida.2022 is
theyear of the surveyon which these classificationsand rates
arebased. The next number,007 in the example,is an internalnumber used in producingthe wage determination.The date,
6/27/2024in the example,indicatesthe surveycompletion
datefor the classificationsand ratesunder that identifier.
‘su identifier indicates that either a single non-
?SU? wage rates typicallyremain in effect until a new
survey
is 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
refers to the State of Maine. 2023 is the year during which
the
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 producing 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? This
can
be:
a) a surveyunderlyinga wage determination
b) an existingpublishedwage determination
c) an initialWHD lettersettingfortha positionon
a wage determinationmattera) an initialconformance(additionalclassification
and rate)determination
On surveyrelatedmatters,initialcontact,including
requests
for summariesof surveys,shouldbe directedto the WHD
Branchof Wage Surveys.Requestscan be submittedvia email to
davisbaconinfo@dol.govor by mail to:
Branch of Wage Surveys
Wage and Hour Division
U.S. Department of Labor
200 Constitution Avenue, N.W.
Washington,DC 20210
Regardingany otherwage determinationmatter such asconformance decisions, requests for initial decisions
should be
directed to the WHD Branch of Construction Wage
Determinations.
Requests can be submitted via 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 initialdecision has been issued, then any
interested
party (thoseaffectedby the action) that disagreeswith
the
decision can request review and reconsiderationfrom the
Wage
and Hour Administrator(See29 CFR Part 1.8 and 29 CFR Part
7).
Requests for review and reconsiderationcan be submitted
via
email to dba.reconsideration@dol.govor by mail to:
Wage and Hour Administrator
U.S. Department of Labor
200 Constitution Avenue, N.W.
Washington,DC 20210
The requestshouldbe accompaniedby a full statementof
the
interestedparty'spositionand any information(wage
payment
data, projectdescription,area practicematerial,etc.)
thatthe requestorconsidersrelevantto the issue.
3) If the decision of the Administratoris not favorable,
an
interestedparty may appeal directly to the Administrative
Review Board (formerlythe Wage Appeals Board). Write to:
AdministrativeReview Board
U.S. Departmentof Labor
200 ConstitutionAvenue, N.W.
Washington,DC 20210.

END OF GENERAL DECISION"
EXHIBIT F
SECTION 3 CONTRACT ADDENDUM.
Fl4861-0639-8185,v.7
EXHIBITF
SECTION3CONTRACT ADDENDUM
DuringconstructionoftheProject,Borrowerwillcomplywithandcauseitssuccessors,
assigns,agents,andagentstocomplywith24CFRPart75.TheSection3requirement
applies to assistance that exceeds $200,000.00 or where the contract or subcontract
exceeds$100,000.00.
AllSection3coveredcontractsmustincludethefollowingclauseinitsentirety.
NoncompliancewithHUD’sregulationsin24CFR part75may resultinsanctions,
defaultundertheLoanDocuments,anddebarmentorsuspensionfromHUD-assisted
contracts:
1.Theworktobeperformedunderthiscontractissubjecttotherequirementsof
Section3oftheHousingandUrbanDevelopmentActof1968,asamended,12
U.S.C.1701u(Section3).ThepurposeofSection3istoensurethatemployment
andothereconomicopportunitiesgeneratedbyHUDassistanceorHUD-assisted
projectcoveredbySection3,shall,tothegreatestextentfeasible,bedirectedto
low-andverylow-incomepersons,particularlypersonswhoarerecipientsof
governmentassistanceforhousingorresidentsofthecommunityinwhichthe
Federalassistanceisspent.
2.ThepartiestothiscontractagreetocomplywithHUD’sregulationsin24CFR
Part75,whichimplementSection3.Asevidencedbytheirexecutionofthis
contract,thepartiestothiscontractcertifythattheyareundernocontractualor
otherimpedimentthatwouldpreventthemfromcomplyingwiththepart75
regulations.
3.Thecontractoragreestosendtoeachlabororganizationorrepresentativeof
workerswithwhichthecontractorhasacollectivebargainingagreementorother
understanding,ifany,anoticeadvisingthelabororganizationorworkers’
representativeofthe contractor'scommitmentsunderthisSection3clauseandwill
postcopiesofthenoticeinconspicuousplacesattheworksitewhereboth
employeesandapplicantsfortrainingandemploymentpracticescanseethenotice.
ThenoticeshalldescribetheSection3preference,shallsetforthminimumnumber
andjobtitlessubjecttohire,availabilityofapprenticeshipandtrainingpositions,
thequalificationsforeach;andthenameandlocationoftheperson(s)taking
applicationsforeachofthepositions;andtheanticipateddatetheworkshallbegin.
4.ThecontractoragreestoincludethisSection3clauseineverysubcontractsubject
tocompliancewithregulationsin24CFRPart75,andagreestotakeappropriate
action,asprovidedinanapplicableprovisionofthesubcontractorinthisSection
3clause,upona findingthatthesubcontractorisinviolationoftheregulationsin
24CFRpart75.Thecontractorwillnotsubcontractwithanysubcontractorwhere
thecontractorhasnoticeorknowledgethatthesubcontractorhasbeenfoundin
violationoftheregulationsin24CFRpart75.
DMFIRM#41903568v25F-2
5.Thecontractorwillcertifythatanyvacantemploymentpositions,including
trainingpositions,thatarefilled(1)afterthecontractorisselected,butbeforethe
contractisexecuted,and(2)withpersonsotherthanthosetowhomtheregulation
of 24CFRpart75requireemploymentopportunitiestobedirected,werenotfilled
tocircumventthecontractor'sobligationsunder24CFRpart75
EXHIBIT G
DEVELOPMENT TEAM DEBARMENT AFFIDAVIT
[Attached]
Gl4861-0639-8185,v.7
EXHIBITH
INSURANCE REQUIREMENTS
[Attached]
DMFIRM #41903568v25 Hl14861-0839-8185,v.7
DHCD ~ KaisaSmith— HPTF LoantoBenningRoadMetroAffordable,LLC fornew
construction500 feetfrom the Benning Road Metro Station— G102025
INSURANCE
A. GENERAL REQUIREMENTS. The Developer at itssoleexpense shallprocureand
maintain,duringtheentireperiodofperformanceunderthiscontract,thetypesofinsurancespecifiedbelow.TheDevelopershallsubmitaCertificateofInsurancetotheContractingOfficer(CO)givingevidenceofthe requiredcoveragepriortocommencing
performanceunderthiscontract.InnoeventshallanyworkbeperformeduntiltherequiredCertificatesof Insurancesigned by an authorizedrepresentativeof the insurer(s)
havebeenprovidedto,andacceptedby,theCO.
IftheDeveloperand/oritssubcontractorsmaintainbroadercoverageand/orhigherlimits
thantheminimumsshownbelow,theDistrictrequiresandshallbeentitledtothebroadercoverageand/orthehigherlimitsmaintainedbytheDeveloperandsubcontractors
B. INSURANCE REQUIREMENTS
1.CommercialGeneralLiabilityInsurance(*CGL”)- TheDeveloperoritsContractorsshallprovideevidencesatisfactorytotheCO withrespecttotheservicesperformedthatitcarriesaCGLpolicy,writtenonanoccurrence(notclaims-made)basis,onInsuranceServicesOffice,Inc.(“ISO”)formCG 00010413(oranotheroccurrence-basedformwithcoverageatleastasbroadandapprovedbytheCO inwriting),coveringliabilityforallongoingandcompletedoperationsoftheDeveloperandunderallsubcontracts,coveringclaimsforbodilyinjury,includingwithoutlimitationsickness,diseaseordeathandmentalanguishofanypersons,broadformpropertydamage,includinglossofuseresultingtherefrom,personalandadvertisinginjury,andincludingcoverageforliabilityarisingoutofanInsuredContract(includingthetortliabilityofanotherassumedinacontract)andactsofterrorism(whethercausedbyaforeignordomesticsource).Suchcoverageshallhavelimitsofliabilityofnotlessthan$1,000,000foreachoccurrence,$2,000,000generalaggregate,$2,000,000productsandcompletedoperationsaggregate,and$1,000,000personalandadvertisinginjuryaggregateli

The Commercial General ilityshallbe furtherendorsed to:
a)Tothefullestextentpermittedbylaw,provideadditionalinsuredcoverageusingISOformCG 20100413andCG20370413(oritsequivalent)toThe
GovernmentoftheDistrictofColumbiab)Coverageavailabletotheadditionalinsuredsshallapplyonaprimaryandnon-contributingbasisasrespectsanyotherinsurance,deductibles,orself-
insuranceavailabletotheadditionalinsureds©)A waiverofsubrogationinfavorofTheGovernmentoftheDistrictof
Columbiad)AnyAnnualAggregateshallapplyonaperlocationorperprojectbasis
©)Defensecostsshallbeinadditiontoandnoterodethelimitsofliability
2. AutomobileLiabilityInsurance-TheDeveloperoritsContractorsshallprovideevidence
satisfactorytotheCO ofcommercial(business)automobileliabilityinsurancewrittenonISOformCA 00011013(oranotherformwithcoverageatleastasbroadandapproved
bytheCO inwriting)includingcoverageforallowned,hired,borrowedandnon-owned
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DHCD- KaisaSmith— HPTF LoantoBenningRoadMetroAffordable,LLC fornew
construction500feetfromtheBenningRoadMetroStation— G102025
vehiclesandequipmentusedbytheDeveloperorcontractorsinconnectionwithworkunder thisagreement,with a minimum combined singlelimitof $1,000,000. Such policy
or policiesof automobile liabilityinsuranceshallbe writtenon an “occurrence”(as
opposedtoa"claimsmade")basis.
‘TheCommercialAutoLiabilitypolicyshallbefurtherendorsedto:a)Tothefullestextentpermittedbylaw,provideadditionalinsuredcoverageto
TheGovernmentoftheDistrictofColumbiab)Coverageavailabletotheadditionalinsuredsshallapplyonaprimaryand
non-contributingbasisasrespectsanyotherinsurance,deductibles,orselfinsuranceavailabletotheadditionalinsureds
©)A waiverofsubrogationinfavorofTheGovernmentoftheDistrictof
Columbiad)Defensecostsshallbeinadditiontoandnoterodethelimitsofliabilitye)Ifapplicable,includeFormCA 99480306PollutionLiability-BroadenedCoverageforCoveredAutos-BusinessAuto,MotorCarrier,andTruckers(or
itsequivalent)£)MovingandStorageCompaniesshallberequiredtoprovideevidenceof
BMC91or BMC91Xfiling
ForDevelopersprovidingtransportation:Developersorcontractorsprovidingtransportationmustadditionallycomplywiththe
following:a)OperatorsholdingarestrictedWMATC CertificateofAuthoritymusthaveasinglelimitof $1.5millionincombined(bodilyinjuryandphysicaldamage)
coverage,orb)OperatorsholdinganunrestrictedWMATC CertificateofAuthoritymusthaveasinglelimitof$5Mincombined(bodilyinjuryandphysicaldamage)
coverage.
Inaddition,bothtypesofWMATC certificateholdersmusthaveinplacethefollowing
LicensingRequirementsasapplicable:a)CommercialDriver'sLicense(CDL)withthefollowingendorsements:
i)P(Passenger):AlldriversMUSThaveaPendorsementenablingthemtotransportpassengers(16ormore).
ii)S(SchoolBus):Alldriversoperatingschoolbuses(flashinglights,swingarmwistopsign)mustalsohaveanSendorsement.Pleasenotethatdriver
credentialsforanyvehiclesthatareconvertedschoolbusesmusthaveS.b)Valid(unexpired)USDepartmentofTransportationMedicalExaminer
Certification(“MedicalCard”),
ForDevelopersorcontractorsusingDistrictGovernment-OwnedVehicles:
AgenciesthatprovideDevelopersorcontractorswithDistrictGovernment-ownedor
leasedmotorvehiclesareresponsibleforensuringthatsuchvehiclesareusedonlyforthe
performanceunderthisContract.Developeranditssubcontractorsareprohibitedfrom
usingsuchvehiclesforhome-to-worktransportationunlessspecificallyprovidedfor
underthetermsofthecontractandapprovedinwritingbytheContractingOfficer,or
otherwiseprovidedbylaw.DeveloperoritsContractorsshallobtainautomobileliability

DHCD ~ KaisaSmith— HPTF LoantoBenningRoadMetroAffordable,LLC fornew
construction500feetfromtheBenningRoadMetroStation— G102025

insurancewithaminimumcombinedsinglelimitof$1,000,000tocoverbodilyinjuryandpropertydamagetoprotecttheDeveloperandtheGovernmentoftheDistrictof
Columbiaagainstthird-partyclaimsarisingfromtheuseofDistrictGovernment-owned
vehicles.TheCommercialAutoLiabilityPolicyshallbeendorsedtoinclude:a)Tothefullestextentpermittedbylaw,provideadditionalinsuredcoverageto
TheGovernmentoftheDistrictofColumbia;b)Coverageavailabletotheadditionalinsuredsshallapplyonaprimaryandnon-contributingbasisasrespectsanyotherinsurance,deductibles,orself-
insuranceavailabletotheadditionalinsureds;and©)A waiverofsubrogationinfavorofTheGovernmentoftheDistrictof
Columbia.Intheeventofloss,destruction,ordamagetoanygovernment-ownedvehiclesusedintheperformanceofcontact,DeveloperoritsContractorsshallbeliableforfullcostof
repairorreplacementoflost,destroyed,ordamagedvehicle.

3. Workers’CompensationInsurance-TheDeveloperoritsContractorsshallprovideevidencesatisfactorytotheCO ofWorkers’Compensationinsuranceinaccordancewith
thestatutorymandatesoftheDistrictofColumbiaorthejurisdictioninwhichthe
contractisperformed.
Employer'sLiabilityInsurance-TheDeveloperoritsContractorsshallprovideevidencesatisfactorytotheCOofemployer'sliabilityinsuranceasfollows:$500,000peraccident
forinjury;$500,000peremployeefordisease;and$500,000forpolicydiseaselimit.

‘TheWorkersCompensationandEmployersLiabilityshallbefurtherendorsedto:a)IncludeaWaiverofSubrogationinfavorofTheGovernmentoftheDistrictofColumbia.
b) Where applicable,includeUnited StatesLongshore and Harbor Workers
Compensation Act (USL&H)
c) Whereapplicable,includeJonesActCoverageforseamenorcrewmemberson
an“ifany”basis.
4. Cyber(MediaLiabilityandNetworkSecurity/Privacy)LiabilityInsurancecoveringacts,
errors,omissions,andviolationofanyconsumerprotectionlawsarisingoutofDeveloper'soritsContractorsoperationsorserviceswitha limitof$2,000,000perclaimandintheaggregate.Suchcoverageshalllincludebutnotbelimitedto,thirdpartyandfirstpartycoverageforlossordisclosureofanydata,includingpersonallyidentifiableinformationandpaymentcardinformation,networksecurityfailure,violationofanyconsumerprotectionlaws,unauthorizedaccessand/oruseorotherintrusions,infringementofanyintellectualpropertyrights(exceptpatent),negligenceorbreachofdutytousereasonablecare,breachofanydutyofconfidentiality,invasionofprivacy,otviolationsofanyotherlegalprotectionsforpersonalinformation,defamation,libel,slander,commercialdisparagement,negligenttransmissionofcomputervirus,oruseofcomputernetworksinconnectionwithdenialofserviceattacks.Suchcoverageshallincluderegulatorydefenseandfines/penaltiesinanyjurisdictionanywhereintheworld.SuchcoverageshallincludecontractualprivacycoveragefordatabreachresponseandcrisismanagementcoststhatwouldbeincurredbyDeveloperoritsContractorsonbehalf

V36-07-2025
DHCD -KaisaSmith— HPTF LoantoBenningRoadMetroAffordable,LLC fornew
construction500feetfromtheBenningRoadMetroStation—G102025
of The Government ofthe Districtof Columbia intheeventofa data breach including
legalandforensicexpenses,notificationcosts,creditmonitoringcosts,andcoststooperatea callcenter.DeveloperoritsContractorsshallmaintaincoverageinforceduring
thetermofthisAgreementandforanextendedreportingperiodofnotlessthantwo(2)yearsafter.
5. ProfessionalLiabilityInsurance(Errors& Omissions)-TheDeveloperoritsContractorsshallprovideProfessionalLiabilityInsurance(ErrorsandOmissions)tocover liabilityresultingfromanyerrororomissionintheperformanceofprofessionalservicesunderthisContract.Thepolicyshallprovidelimitsof$1,000,000perclaimorperoccurrenceforeachwrongfulactand$2,000,000annualaggregate.TheDeveloperoritsContractorswarrantsthatanyapplicableretroactivedateprecedesthedatetheDeveloperoritsContractorsfirstperformedanyprofessionalservicesfortheGovernmentoftheDiof Columbiaandthatcontinuouscoveragewillbemaintainedoranextendedreportingperiodwillbeexercisedforaperiodofatleasttenyearsafterthecompletionoftheprofessionalservices.Limitsmaynotbesharedwithotherlinesofcoverage.

6. CommercialUmbrellaorExcessLiability-TheDeveloperor itsContractorsshallprovideevidencesatisfactorytotheCO ofcommercialumbrellawithminimumlimitsof$10,000,000per
occurrenceand$10,000,000intheannualaggregate.Coveragemustexcessofrequired
commercialgeneralliability,commercialautoliability,andemployers’liability.‘Theinsurance
requiredunderthisparagraphshallbewritteninaformthatannuallyreinstatesallrequiredlimitsCoverageshallbeprimarytoanyinsurance,self-insuranceorreinsurancemaintainedbyTheGovernmentoftheDistrictofColumbiaandthe“otherinsurance”provisionmustbeamendedinaccordancewiththisrequirementandprinciplesofverticalexhaustion.

7. (rineInsurance(3rdPartyIndemnity)- TheDeveloperoritsContractorsshallprovidea
e policyincluding3" partyfid tocoverthedishonestactsof Contractors,its
emilee and/orvolunteerswhichresultinalosstotheDistrict.TheGovernmentoftheDistrictofColumbiashallbeincludedaslosspayee.Thepolicyshallprovidealimitof
$50,000peroccurrence.

8.EnvironmentalLiability/ContractorsPollutionLiabilityInsurance-TheDeveloperoritsContractorsshallprovideevidencesatisfactorytotheCOofenvironmentalinsurancecoveringlossescausedbypollutionorotherhazardousconditionsarisingfromongoingorcompletedoperationsoftheDeveloperoritsContractors.Suchinsuranceshallapplytobodilyinjury,propertydamage(includinglossofuseofdamagedpropertyorofpropertythathasbeenphysicallyinjured),clean-upcosts,transitandnon-owneddisposalsites,Coverageshallextendtodefensecostsandexpensesincurredintheinvestigation,civilfines,penaltiesanddamagesorsettlements.Thereshallbeneitheranexclusionnorasublimitformoldorfungus-relatedclaims,legionella,asbestos,leadpaint,orsilica,Theminimumlimitsrequiredunderthisparagraphshallbe$2,000,000peroccurrenceand$2,000,000intheannualaggregate.Ifsuchcoverageiswrittenonaclaims-madebasis,theDeveloperoritsContractorswarrantsthatanyretroactivedateapplicabletocoveragesunderthepolicyprecedestheDeveloperoritsContractors”performanceofanyworkundertheContractandthatcontinuouscompletedoperationscoveragewillbemaintainedforatleastten(10)yearsoranextendedreportingperiodshallbepurchasedfornolessthanten(10)yearsaftercompletion.

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DHCD- KaisaSmith— HPTF LoantoBenningRoadMetroAffordable,LLC fornew
construction500feetfromtheBenningRoadMetroStation— G102025
TheDeveloperoritsContractorsalsomustfurnishtotheCO Ownercertificatesofinsuranceevidencingenvironmentalliabilityinsurancemaintainedbythirdpartytransportationanddisposalsiteoperators(s)usedbytheDeveloperforlossesarisingfromfacility(ies)accepting,storingordisposinghazardousmaterialsorotherwasteasaresultoftheDeveloperorcontractors’operations.Suchcoveragesmustbemaintainedwithlimitsofatleasttheamountssetforthabove.

TheEnvironmentalLiabilitypolicyshallbefurtherendorsedtoincludeTheGovernment
oftheDistrictofColumbiaasanAdditionalInsured.
9.Installation-FloaterInsurance-Forprojectsnotinvolvingstructuralalterations,theDeveloperoritsContractorsshallprovideaninstallationfloaterpolicywithalimitequaltothePropertyvaluesbeinginstalledaspartoftheproject.Thepolicyshallcoverpropertywhilelocatedattheprojectsite,attemporarylocations,orintransit;deductibleswillbethesoleresponsibilityoftheDeveloper.

10.RiggersLiability~IfandtotheextentDeveloperoritsContractors’servicesorscopeofWorkcallfor,require,orinvolvethelifting,picking,riggingandsettingofothers
property,materialsorequipment,DeveloperoritsContractorsshallprocure,maintainandpayforRiggersLiabilityInsurancetoinsureagainstphysicallossofordamagein.
amountssufficienttoinsurethefullmarketvalueand/orreplacementcostsoftheproperty,materialsorequipmentbeinglifted,withaminimumliabilitylimitof
$5,000,000.Inadditiontoreplacinganyproperty,materialsorequipmentdamagedthroughDeveloperoritsContractors’workinvolvingthe lifting,picking,riggingandor
setting,DevelopersoritsContractorsshallalsoberesponsibleforallconsequentiallossofuse,anddelaydamagesinvolvedinreplacingand/orrepairingthedamagedproperty,materials,orequipment.Failuretocarryappropriateinsuranceand/orfailuretocarry
adequatelimitsshallnotrelieveDeveloperoritsContractorsfromitsindemnityand
contractualobligationsherein,

ConstructionProjectsforDeveloperProvidedBuilder’sRiskBuildersRisk—TheDeveloperoritsContractorsshallpurchaseandmaintainbuildersriskinsuranceat100%replacementcostupontheentireWorkatthesiteandportionsoftheWorkstoredoffthesitewiththeDeveloper'sapproval,andcontingenttransitcoverageforportionsoftheWorkintransit.ThisinsuranceshallincludetheinterestsoftheDistrict,theDeveloperandtheSubcontractorsintheWorkandshallinsureagainstallriskofphysicaldamagesubjecttostandardexclusions.LossesnotcoveredbytheDeveloper'sinsuranceshallbebomepursuanttotheprovisionsoftheContract.Thebuildersriskpolicywillhaveadeductibleofnotmorethan$25,000.LosseswithinthedeductiblewillbepaidbytheDeveloperortheresponsibleSubcontractor.Ifnotcoveredunderthebuilder’sriskinsuranceorotherwiseprovidedintheContractDocuments,theDevelopershalleffectandmaintainsimilarpropertyinsuranceonportionsoftheWorkstoredoffthesiteorintransit

C, SUBCONTRACTOR INSURANCE REQUIREMENTS
V36-07-2025
DHCD -KaisaSmit

—HPTF LoantoBenningRoadMetroAffordable,LLC fornew
construction500feetfromtheBenningRoadMetroStation— G102025,
H.
AnyandallsubcontractorsengagedbyDeveloperforworkunderthisagreementshallbe
requiredtohavethesameinsuredrequiredofContractor.ShouldtheDeveloperwishtoproposedifferentinsurancerequirementsforthesubcontractorthantheonesoutlinedin
theContract,then,priortocommencementofworkbythesubcontractor,theDevelopershallsubmitinwritingthenameandbriefdescriptionofworktobeperformedbythesubcontractortotheCO.TheCO willpromptlyprovideinwritingtotheContractorwith
adecisionregardingtheinsurancerequirementsapplicabletothesubcontractor.WhenrequestedbytheCO,theDevelopermustprovideproofofthesubcontractor’srequired
insurancepriortocommencementofworkbythesubcontractor.

PRIMARYANDNONCONTRIBUTORYINSURANCETheinsurancerequiredhereinshallbeprimarytoandwillnotseekcontributionfromanyotherinsurance,reinsuranceorself-insuranceincludinganydeductibleorretention,maintainedbytheGovernmentoftheDistrictofColumbia.
DURATION.TheDevelopershallcarryallrequiredinsuranceuntilallcontractworkisacceptedbyTheGovernmentoftheDistrictofColumbiaandshallcarrylistedcoverages
fortenyearsforconstructionprojectsfollowingfinalacceptanceoftheworkperformedunderthiscontractandtwoyearsfornon-constructionrelatedcontracts.

LIABILITY.Thesearetherequiredminimuminsurancerequirementsestablishedby‘TheGovernmentoftheDistrictofColumbia.However,itisunderstoodthatThe
GovernmentoftheDistrictofColumbiadoesnotinanywayrepresentthattheinsuranceorthelimitsofinsurancespecifiedhereinaresufficientoradequatetoprotectyour
interestsorliabilitiesandwillnotinanywaylimittheDeveloper'sliabilityunderthis
contract.

DEVELOPER’SPROPERTY.Developerandsubcontractorsaresolelyresponsibleforanylossordamagetotheirpersonalproperty,includingbutnotlimitedtotoolsand
equipment,scaffolding,andtemporarystructures,rentedmachinery,orownedandleasedequipment.A waiverofsubrogationshallapplyinfavorofTheGovernmentofthe
DistrictofColumbia.
MEASURE OF PAYMENT. The Government of the Districtof Columbia shallnot
makeanyseparatemeasureorpaymentforthecostofinsuranceandbonds.‘TheDevelopershallincludeallthecostsofinsuranceandbondsinthecontractprice.
NOTIFICATION.TheDevelopershallensurethatallpoliciesprovidethattheCO shallbegiventhirty(30)dayspriorwrittennoticeintheeventofcancellation,non-renewal,ormaterialchangestotheextentsuchcancellationormaterialchangesresultsinDevelopernolongcomplyingwiththeaboverequirements.TheDevelopershallprovidetheCOwithten(10)days’priorwrittennoticeintheeventofnon-paymentofpremium.TheDeveloperwillalsoprovidetheCOwithanupdatedCertificateofInsuranceshoulditsinsurancecoveragesrenewduringthecontract.TheGovernmentoftheDistrictofColumbiamayreasonablychangetheaboveinsurancecoveragerequirementsduringtheTermbygivingDeveloperatleast30days’noticeofthechange.Developermust

V36 -07-2025
DHCD- KaisaSmith— HPTF LoantoBenningRoadMetroAffordable,LLC fornew
construction500feetfromtheBenningRoadMetroStation—G102025

comply,atyourexpense,anddelivertotheCO evidenceofcompliancebeforethechange
becomeseffective.
J.CERTIFICATESOFINSURANCE.TheDevelopermustsendtoCO,atleast10daysafterexecutionofthisAgreement,certificatesofinsuranceevidencingtherequiredinsurancecoverageandendorsementsrequiredherein,Developermustalsoprovideuswithevidenceofrenewalbeforetheexpirationdateofeachinsurancepolicy.Developerisresponsibleforprovidinguswith30daysadvancedwrittennoticeifthecertificateofinsurancebytheinsurerhasbeencanceled,reducedincoverage,orotherwisealtered.Certificatesofinsurancemustreferencethecorrespondingcontractnumber.Evidenceofinsuranceshallbesubmittedto:
‘TheGovernmentoftheDistrictofColumbia
And mailedtotheattentionof:

herKingJr.AveSEWashington,DC 20019‘maillisa.williams1@de.gov

TheCO mayrequest,andtheDevelopershallpromptlydeliverupdatedcertificatesof
insurance,endorsementsindicatingtherequiredcoverages,and/orcertifiedcopiesoftheinsurancepolicies.IftheinsuranceinitiallyobtainedbytheDeveloperexpirespriorto
completionofthecontract,renewalcertificatesofinsuranceandadditionalinsuredandotherendorsementsshallbefurnishedtotheCO priortothedateofexpirationofallsuch
initialinsurance.Forallcoveragerequiredtobemaintainedaftercompletion,anadditionalcertificateofinsuranceevidencingsuchcoverageshallbesubmittedtotheCOonanannualbasisasthecoverageisrenewed(orreplaced).

K. DISCLOSURE OF INFORMATION. The Developer agreesthatThe Governmentof the
DistrictofColumbiamaydisclosethenameandcontactinformationofitsinsurerstoanythirdpartywhich presentsa claim againstThe Government ofthe Districtof Columbia
foranydamagesorclaimsresultingfromorarisingoutofworkperformedbytheDeveloper,itsagents,employees,servantsorsubcontractorsintheperformanceofthiscontract.

L.CARRIERRATINGS.AllDeveloper'sanditssubcontractors’insurancerequiredin
connectionwiththiscontractshallbewrittenbyinsurancecompanieswithanA.M.BestInsuranceGuideratingofatleastA-VIIorbetter(ortheequivalentbyanyotherrating
agency)andlicensedintheDistrictofColumbia.
M.WARRANTIES.Whenapplicable,theDevelopershouldbenamedasanadditionalinsuredontheapplicablemanufacturer’s/distributer’sCommercialGeneralLiabilitypolicyusingInsuranceServicesOffice,Inc.(“ISO”)formCG 20150413(oranotherdoccurrence-basedformwithcoverageatleastasbroad).COshouldcollect,reviewforaccuracy,andmaintainallwarrantiesforgoodsandservices.
V36-07-2025
EXHIBIT I
CERTIFICATION OF BORROWER’S REPRESENTATIONS AND WARRANTIES
[Attached]
J4861-0630-8185,v.7
CERTIFICATIONOF BORROWER'S REPRESENTATIONSAND WARRANTIES
BorrowerherebycertifiestoLenderthat:
(a) Theamountsrequestedweremade,incurredorfinancedandwerenecessaryfortheProjectandweremadeorincurredinaccordancewiththeConstructionDrawScheduleheretoforeineffectorpursuanttoaChangeOrderthathasbeenapprovedinaccordancewiththeLoanAgreement.
(b) TheamountsrequestedarenotgreaterthanthosenecessarytomeetobligationsdueandpayableortoreimbursetheBorrowerforitsfundsactuallyadvancedforcostsoftheProject,ifapplicable.

(©) No.amountforwhichdisbursementissoughtformedthebasisforanypriorandnodisbursementissoughtforanyitemsrepresentingpaymentonaccountofanypercentageentitledtoberetainedatthedateofthisPaymentRequest.

(4) TheamountsremainingtobedisbursedpriortotheFinalDisbursementfromtheLoan,theSeniorLoan,SubordinateLoan,taxcreditequity,andallothersourcesshowninintheProjectBudget,willbesufficienttopaythecostsofcompletingtheProjectasandwhendueandpayable.

(©) BorroweracknowledgesthatexceptasexpresslysetforthintheLoanAgreement,nopartyshallhaveanydutyorobligationtoverifythevalidity,sufficiencyorgenuinenessofanydocumentsubmittedorconfirmorestablishtheauthorityoridentityofthepersonsendingthisrequest,andmayrelyuponthevalidityofanydocumentandtheauthorityandidentityofanysuchpersonifLendercomplieswiththeapplicableloanagreement.LendershallnotberesponsibleforerrorsoromissionsmadebytheBorrower
ortheduplicationofany communicationbytheBorrowerandmayactonanycommunicationbyreference
toanaccountnumberonly,evenifanaccountnameisprovided.Borrowershallbenotifiedifacommunicationisnotacteduponforanyreason.

(0) ThereisnocurrentorexistingEventofDefaultpursuanttothetermsofanyoftheLoanDocuments,andtoBorrower'sknowledgenoeventexistswhichbynoticeorpassageoftimeorbothwouldconstituteanEventofDefaultunderanyoftheforegoingdocuments.

(g)__NorepresentationorwarrantyoftheBorrowercontainedinanyoftheLoanDocumentsis
incorrectorinaccurateinanymaterialrespect.
(h) ExceptforPermittedEncumbrances(asdefinedintheDeedofTrust)andthoseotherwisepermittedorprovidedforbytheLoanDocuments,therehasbeennonoticereceived(i)ofanylien,righttolienorattachmentupon,orclaimaffectingtherightofthepayeetoreceivepaymentof,anyofthemoneyspayableundersuchPaymentRequesttoanyofthepersons,firmsorcorporationsnamedtherein,and(ii)thatanymaterials,suppliesorequipmentcoveredbysuchPaymentRequestaresubjecttoanylienorsecurityinterest,orifanynoticeofanysuchlien,attachment,claimorsecurityinteresthasbeenreceived,suchlien,attachment,claimorsecurityinteresthasbeenreleased,discharged,insuredorbondedoverorwillbereleased,discharged,insuredorbondedoveruponpaymentofthisPaymentRequest.

(i) AllconditionsprecedentfordisbursementssetforthinSection4.5andforFinalDisbursementinSection4.7aresatisfied,includingwithoutlimitationdeliverytoLenderofanywaiversandlienreleasesrequiredbySection4.5.6of theLoanAgreement.

(This statementandallexhibitshereto,shallbeconclusiveevidenceofthefactsandstatementssetforthhereinandshallconstitutefullwarrant,protectionandauthoritytoLenderforitsactionstakenpursuanthereto,

(k) AttachedtothisPaymentRequestarecopiesofinvoicesorbillsofsalecoveringallitems,forwhichpaymentisbeingrequested.
(1) AllcapitalizedtermsthatarenotdefinedwithinthisCertificationshallhavethemeaningsetforthintheLoanAgreement.
[remainderofpageintentionallyblank;signaturepagefollows)
EXHIBITJ
FORM OF FINAL LOAN
REDUCTION CERTIFICATE
[Attached]
3-2
LOANREDUCTIONCERTIFICATE.
InaccordancewithapplicableProgramRequirementsandpursuanttothetermsoftheAgreement,dated_—_2023,byandbetweentheDistrictofColumbia,amunicipalcorporation,actingbyandthroughheD.C:Department‘ofHousingandCommunityDevelopment("Lender")and10Q NW.,LLC("Borrower")
[ALendermadeoantotheBorrowernatotalprincipalamountnotexceed$9,928.61Sand00/100Dollars(the"Loan”),theprocedsofwhichweretobeusedbytheBorrowertohelpFinancetheproductionof29,affordablerentalhousingunitsat10.QSteetNW(the“Projectalsoknownas"BarnettAden);and
(Onorpriortothenineith(90th)dayaftertheBorowerreceivestheUnitedStatesDepartmentoftheTreasuryInternalReveneServiceLow-IncomeHousingCreditAllocationandCerifiation(Form8609),theBorrowerfsrequiredtoprovidetheLenderwithaLoanReductionCerificate,preparedandexecutedbytheBorower,certifyingthenetamountoftheExcessProceedsavailableromtheProjectthatwlbeduetotheLender("Final‘LoanReductionCalculation”,pursuanttoSection1(foftheAgreement
ForthepurposeofthisLoanReductionCertiiate,theerm“ExcessProceeds”means
(1)ThesumoFalfundsthatwereusedforatemporarypurposetotheextentthatsuchfundsareowilbesubsequentreturned1Borrower(ibe"ReturnedFundsasmoreparticularlydeseribedanddefinedinSection(bi.oftheAgreement),
(2)PLUStheneteductionintotalcostsshownintheProjectBudgetduetounspent‘contingencyfunds,enspentshort-termreservesorotherbudgetsavings(the"CostSavings"asdefinedinSection(Oi,oftheAgreement),
(2)PLUSanyincreaseinfundingthatiscommitedotheProjectaftertheClosingDate‘overandabovethefundingsourcesshownontheProjectBudgetthe“increasedSources”asmoreparticularlydescribedanddefinedinSection1()bai.oftheAgreement),
(4)ForanExcessProceedstotalingthefollowing:
‘TheFinalLoanReductionCaleulationduetotheLenderequalsthesumof100%oftheReturnedFunds,50%oftheCostSavingsandSO%oftheIncreasedSources,foratotalof
“TheLenderRtainagethatremainsundisbursedequals
“TheamountoftheFinalLoanReductionCalculationpayabletoLenderaftersubtractingremainingLenderRetsnage,fapplicableandapproved,perSection1(P)oftheAgreement,isafollows
DIMMTs
“ThePreliminaryLoanReductionCalculationshallbepreparedandupdatedpursuanttoSection1(f)oftheAgreement.CapitalizedtermswedhereinandnottherwisedefinedhereinshallhavethemeaningsascribedtheretotheAgreement
“Theundersignedhereby()certifiesthattheBorrowerhasexaminedtheinformationincludedinthisLoanRedctionCerfcatand,tothebestoftheundersgned’sknowledgeitstruc,correctandcomplete,and(i)submisthisLoanReductionCerificatetotheLenderinordertocomplywiththetermsoftheAgreement.
Executedthis_dayof_

BORROWER:
10QNWLLC,aDistrictofColumbiatimitedliabilitycompany
By
By
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EXHIBIT K
FORM OF NET CASH FLOW
CALCULATION WORKSHEET
[Attached]
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RE
EXHIBIT L
MODIFICATIONS TO LOAN AGREEMENT
‘Thefollowingmodificationsaremade tothetextofthe Agreement thatprecedesthisExhibit:
Section isdeletedand replacedwiththefollowing:
Anew Section_ isadded,asfollows:
SpecialConditions:
Post-closingrequirement:registrationwiththeRentRegistryuponreceiptofthe
CertificateofOccupancy
Ll
RIDER1
LOW-INCOME HOUSING TAX CREDIT PROVISIONS
ThisLOW-INCOME HOUSING TAX CREDITSPROVISIONSRIDER(this“LIHTCRider”)
isattachedtoandamendstheLoanAgreementbyandbetweenbyBENNING ROAD METRO
APARTMENTS LLC,a DistrictofColumbialimitedliabilitycompany(“Borrower”)andthe
DISTRICT OF COLUMBIA, a municipalcorporation,actingby and throughTHE
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT (“Lender”),dated
asofthe .2025(the“LoanAgreement”).

TotheextentanyprovisionsofthisLIHTCRiderconflictwithanyprovisionsinthebodyoftheLoanAgreement,theprovisionsofthisLIHTCRidershallprevail.Anytermsinthebodyofthe
LoanAgreementnotinconflictwiththeprovisionsofthisLIHTCRiderremaininfullforceandeffect.AnycapitalizedtermsnotdefinedinthisLIHTCRidershallhavethemeaninggiveninthe
bodyoftheLoanAgreement.

NotwithstandinganythingelseintheLoanAgreementtowhichthisLIHTCRiderisattached
1. DEFINITIONS. The followingterm shallbe added tothe Loan Agreement:
(a) “Equity Investor” means __ collectively: U.S. BANCORP COMMUNITY
DEVELOPMENT CORPORATION, a Minnesota corporation,and USB DISTRICT OF
COLUMBIA FUND I,LLC, a Missouri limitedliabilitycompany, and theirrespectivepermitted
successorsandassigns.
2. NOTICE.
Lenderagreesthat,aslongasEquityInvestorisamemberorpartnerofBorrower,LendershallendeavorasacourtesytoEquityInvestortodelivertoEquityInvestoracopyofanynoticeofdefaultthatisdeliveredtoBorrower.EquityInvestor'saddressforsuchnoticepurposesis:
U.S.BancorpCommunityDevelopmentCorporation
1307WashingtonAvenue,Suite300MailCode:SLMO RMCD
St.Louis,MO 63103Attn.:DirectorofAssetManagement
Phone:(314)335-2600
USBDistrictofColumbiaFundI,LLCc/oU.S.BancorpCommunityDevelopmentCorporation1307WashingtonAvenue,Suite300
MailCode:SLMO RMCD
St.Louis,MO 63103Attn.:DirectorofAssetManagementPhone:(314)335-2600
Withacopyto:
KutakRockLLP
1650FarnamStreet
Omaha, NE 68102
Attn:JillH.Goldstein

EquityInvestormaychangetheaddresstowhichnoticesintendedforitaretobedirectedbymeansofwrittennoticegiventoLender.
3. OPPORTUNITY TO CURE.
AnycureofanydefaultbyBorrowerofferedbyEquityInvestorshallbetreatedthesameasifofferedbyBorrower.