Proposed Contract with 950 Eastern Ave TM LLC to Contract No. 2026-31

MURIEL BOWSER
MAYOR

May 14, 2026

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. 2026-31 with 950 Eastern Ave TM LLC in the amount of $22,337,482.

Under the proposed contract, the District will loan $22,337,482 from the Housing Production Trust
Fund (HPTF) to 950 Eastern Ave TM LLC, who will use the HPTF loan proceeds to finance the
eligible acquisition costs, predevelopment costs, construction hard costs and soft costs associated
with the development of 56 units of affordable housing at 950 Eastern Ave, N.E. 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 Christopher Earley, Deputy Director, Department of Housing and Community
Development, at chris.earley@dc.gov or at (202) 442-7158.

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

Sincerely,

Muriel Bowser

GOVERNMENT OF THE DISTRICT OF COLUMBIA
Department of Housing and Community Development

COUNCIL CONTRACT SUMMARY

Pursuant to section 202(c) of the Procurement Practices Reform Act of 2010, effective April
8, 2011 (D.C. Law 18-371; D.C. Official Code §2-352.02(c)), the following contract
summary is provided:
(A) The proposed contractor, contract amount, unit and method of compensation, contract
term, and type of contract:

Proposed Contractor: 950 Eastern Ave TM LLC

Contract Amount: $22,337,482

Unit and Method of Compensation: Draw Schedule

Term of Contract: 42 years / 3% Simple Interest

Type of Contract: Loan Agreement

(B) The goods or services to be provided, the methods of delivering goods or services, and
any significant program changes reflected in the proposed contract:

The Department of Housing and Community Development (DHCD) proposes to
provide a loan to 950 Eastern TM LLC in the amount of $22,337,482 from the Housing
Production Trust Fund for the purpose of financing eligible acquisition costs,
predevelopment costs, hard construction costs and soft costs associated with the
property located at 950 Eastern Avenue, N.E. Washington, DC in Ward 7.

(C) Results, including the price and technical components:

DHCD received a request for funding from the borrower to be used for the purpose of
financing eligible acquisition costs, predevelopment costs, construction hard costs and
soft costs associated with the property located at 950 Eastern Avenue, N.E.
Washington, DC in Ward 7.

Page 1 of 3

(D) The background and qualifications of the proposed contractor, including
its organization, financial stability, personnel, and prior performance on
contracts with the District government:

The borrowing entity, 950 Eastern Ave TM LLC, is controlled by
affiliates of Cubed Partners and the United Planning Association, neither
of which have performance concerns related to working on contracts with
the District of Columbia government.

(E) Performance standards and the expected outcome of the proposed contract:

The proposed DHCD loan proceeds will be used to provide a loan to 950
Eastern TM LLC in the amount of $22,337,482 from the Housing
Production Trust Fund for the purpose of financing eligible acquisition
costs, predevelopment costs, hard construction costs and soft costs
associated with the property located at 950 Eastern Avenue, N.E.
Washington, DC in Ward 7.

The project is consistent with DHCD’s goal of preserving and producing
affordable housing for low-to-moderate income residents. Additionally, the
borrower is required to fulfill all conditions as set forth in the loan
agreement within the agreed upon time frames. Failure to fulfill the terms of
the loan agreement will constitute default.

(F) A certification that the proposed contract is within the appropriated
budget authority for the agency for the fiscal year and is consistent with the
financial plan and budget adopted in accordance with D.C. Official Code
§§ 47-392.01 and 47-392.02:

The loan will be funded through the Housing Production Trust Fund.
Attached is the certification that the proposed loan agreement is consistent
with the District’s financial plan and budget.

(G) A certification that the proposed contract is legally sufficient, including
whether the proposed contractor has any currently pending legal claims
against the District:

A legal sufficiency memorandum from the Office of the General Counsel is attached.

(H) A certification that the proposed contractor is current with its District
and federal taxes or has worked out and is current with a payment
schedule approved by the District or federal government:

District and federal tax law compliance certifications are attached.

Page 2 of 3

(I) The status of the proposed contractor as a certified local, small, or
disadvantaged business enterprise as defined in the Small, Local, and
Disadvantaged Business Enterprise Development and Assistance Act of
2005, effective October 20, 2005 (D.C. Law 16-32; D.C. Official Code § 2-
218.01 et seq.):

950 Eastern TM LLC is not a certified local, small, or disadvantaged
business enterprise.

(J) Other aspects of the proposed contract that the Chief Procurement
Officer considers significant:
None

(K) A statement indicating whether the proposed contractor is currently
debarred from providing services or goods to the District or federal
government, the dates of the debarment, and the reasons for
debarment:
The proposed contractor is not currently debarred from providing services
or goods to the District or federal government. A debarment affidavit is
attached.

(L) Where the contract, if executed, will be made available online:
The contract summary will be available at www.dhcd.dc.gov.

Page 3 of 3

1101 4th Street, SW
Washington, DC 20024
Date of Notice: April 6, 2026 L0016356922Notice Number:
FEIN: **-***2548
Case ID: 18928943

Government of the District of Columbia
Office of the Chief Financial Officer
Office of Tax and Revenue
950 EASTERN AVE TM LLC
3321 GEORGIA AVE NW UNIT 43075
WASHINGTON DC 20010-7527

Branch Chief, Collection and Enforcement Administration
Authorized By Melinda Jenkins
To validate this certificate, please visit MyTax.DC.gov. On the MyTax DC homepage, click the
“Validate a Certificate of Clean Hands” hyperlink under the Clean Hands section.
CERTIFICATE OF CLEAN HANDS
As reported in the Clean Hands system, the above referenced individual/entity has no outstanding
liability with the District of Columbia Office of Tax and Revenue or the Department of Employment
Services. As of the date above, the individual/entity has complied with DC Code § 47-2862, therefore
this Certificate of Clean Hands is issued.
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
1101 4th Street SW, Suite W270, Washington, DC 20024/Phone: (202) 724-5045/MyTax.DC.gov

COPY
Initial File #: L00007218559
Entity Type: Domestic Limited Liability Company
GOVERNMENT OF THE DISTRICT OF COLUMBIA
DEPARTMENT OF LICENSING AND CONSUMER PROTECTION
CORPORATIONS DIVISION
C E R T I F I C A T E
THIS IS TO CERTIFY that all applicable provisions of the District of Columbia Business
Organizations Code (Title 29) have been complied with and accordingly, this CERTIFICATE OF
GOOD STANDING is hereby issued to
950 Eastern Ave TM L.L.C.
WE FURTHER CERTIFY that the domestic filing entity is formed under the law of the District on
02/03/2022; that all fees, and penalties owed to the District for entity filings collected through the
Mayor have been paid and Payment is reflected in the records of the Mayor; The entity's most recent
biennial report required by § 29-102.11 has been delivered for filing to the Mayor; and the entity has
not been dissolved. This office does not have any information about the entity’s business practices
and financial standing and this certificate shall not be construed as the entity’s endorsement.
IN TESTIMONY WHEREOF I have hereunto set my hand and caused the seal of this office to be
affixed as of 04/06/2026 3:45 PM
Muriel Bowser
Mayor

Tracking #: C2026CT0071735
Business and Professional Licensing Administration

Docuslgn Envelope ID: OEC63A33-B64A_.233-8965-BB826EC 18DBE
riilCUBED ~PARTNERS
TEAM AFFIDAVIT CERTIFICATE
Emmanuel Egoegonwa cubed Partners I,_______ _ ___ of _________ , hereby attest that
all members of the team who are listed below are not listed in the List of Parties. Excluded
from Federal Procurement or Non-Procurement Programs:
Project Name: 950 Eastern Ave
Project Number: TBD '----'--=-----------
CONSTRUCTION TEAM:
Contractor: 950 Eastern Ave TM LLC
Subcontractor: NA ----------
Subcontractor: NA ----------
Subcontractor: NA ----------
I further attest that no principal, major stockholder, officer, or director of the construction
team is debarred from participating in a federal procurement or non-procurement program.
s[~ __ • ___ _
Emmanuel Egoegonwa Name:. ___________ _
Title: Authorized officer
March 10 26 Date: _____ , 20_
State of Di s\ri ct ix (v lL!1lb~c
County of _/{)~Pr __ _
~-.... _ ~Do rt.Jtl 1 hereby certify that on this .1Q!t. day of t<)greh 9-t)'J,6 J wrrnru e L personally
appeared before me and acknowledged he is the Authorized officer of 950 Eastern Ave TM
LLC, and in his capacity as the Authorized officer of 950 Eastern Ave TM LLC, he executed
this certificate as of the date set forth above.
Notary Seal
By:-fJftJ-
lhGOVERNMENT OF THE DISTRICT OF COLUMBIA
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
s+
VIA ELECTRONIC MAIL
‘CommissionerPatriciaStamperChairANC7CWashington,DC200197C06@ane.de.gov
Re:950EasternAvenueApartments~950EasternAvenue,NE
DearCommissionerStamper,
PursuanttoD.C.OfficialCode§1-309.10(2001ed.),youareherebyinformedthattheDepartment
of HousingandCommunityDevelopment(“Department”or“theDepartment”)proposestoprovide
950EastemAveTM,LLCwithfundinginanapproximateamountof$22,334,482inHousing
ProductionTrustFundsthatwillbeusedtofinanceacquisition,construction,andrelatedcostsforthe
affordablehousingprojecttobelocatedat950EasternAvenue,N.E.
PleasebeadvisedthatAdvisoryNeighborhoodCommission7Chasthirty(30)businessdaysfromthedateofthisnoticetosubmitcommentsontheaboveproposedaction.Districtlawrequiresthat
theDepartmentgive“greatweight”toallrelevantANCconcernsorrecommendations.We
respectfullyrequestthatanycommentinresponsewaivetheremainderofthestatutory30-dayANCnoticecommentperiod.

‘TheDepartmentmustreceivecommentsbyFebruary9,2026(i..,thethirty-businessdaycomment
period).Youmustincludeareferencetothesubjectmatteridentifiedatthetopofthisnoticeinyour
response.CommentsmaybesentbyemailtoPamelaHillsmanatpamela.hillsman@dc.govorby
mailto:TheDepartmentofHousingandCommunityDevelopment,OfficeoftheDirector,Att
PamelaHillsman,1909MartinLutherKingAvenue,S.E.,Washington,D.C.20020.

Ifyouhavefurtheyquestionsregardingthisproject,pleasedonothesitatetocontactTiphanieJonesat202-442-7261hrtiphanie,jones2@de.gov.
Coll
Director
cc: CouncilmemberWendellFelder,Ward7CouncilmemberRobertWhite,HousingCommitteeChait
CommissionerPatriciaStamper,7C06Mr.KentBoese,OfficeofAdvisoryNeighborhoodCommissionsTkeoguImo,950EasternAveTM,LLC

GOVERNMENT OF THE DISTRICTOF COLUMBIA
PROFILE SUMMARY
(CONTRACTs TO PURCHASE,SELL,ACQUIRE,TRANSFER,LEASE OF REAL
PROPERTY/EXCLUSIVE RIGHT AGREEMENTs/LOANs & GRANTs OVER $1M/INTRA-
DISTRICTs)

ContractingAgency:Dept.HousingandCommunityDevelopment ‘AgencyCod
UsingAgency: Dept,HousingandCommunityDevelopment AgencyCode:
Loan/Grant/LeaseSub-recipientName:950EasternAveTM LLC
ShouldtheD.C.Councilhaveanyquestionsregardingthisloan/grant/lease,pleasecontact:

ProjectManager:TiphanieJones TelephoneNumber:202-442-7261
CTYPEOF DOCUMENT SUBMITTED
1 OA, can/Gran/LeaseModification 4. oO WrittenorInformalContract
Oo2. Oo ExerciseofGrantOptionYear(E.0.)| 5. Leaseof RealProperty
3.HB) Loan/Grant/LeaseAgreementfor:6) other;___
950Eastern Ave TM LLC,

LOAN/GRANTTYPE
1. Grant 4. CostReimbursementO O
2.) LoanPrice$22,337,482 3.) TimeandMaterial
3.[] TaskOrder 6.[-] AdvancePayment

Page 1 of4
GRANT/LOAN/LEASE INFORMATION
Grant/Loan/LeaseNo.:DHCD Amount:$22,337,482(HPTF)
Caption:950EasternAveTM LLC. Grant/LoanTerm:42Years
InterestRate:_3_%
DoesthisGrant/LoanAmountexceed$1million: Yes No
Ifyes,pleaseattachacopyoftheDCCouncilapprovalandprovidethefollowinginformation:

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

SOURCEOFFUNDING
Ey Appropriated 4.— Intra-District
2 Capital 5. Inter-Surisdietional
3] Grant 7) 6.gy Other:HPT

Ifprocurementactionisfundedbygrantorothernon-capitalornon-appropriatedfunds,willtheDistrictneedtoexpendsomeportionofitsfundspriortoreceivingfundsfromthegrantoror
otherfundingsource?
OO Yes i=) NIA
IfYes,indicatetheamounttheDistrictwillneedtoexpendandthepercentagethisamountrepresentsofthetotalfundsrequiredtosupporttheeffort.DistrictFunds$%, :
Page2of4
CRITICALISSUESASSOCIATEDWITH GRANT/LOAN ACTION

IsthisGrant/Loanoneofmultiple(morethanone)Grants/Loansforsimilargoods,services,etc.,awardedbytheAgencytothissubrecipient,orrelatedentity,withinthelasttwelve(12)months?
C1 ves

2 Have reservedfunds been obligatedfor payment? (IfYes, ensure documentation isincludedin
Grant/LoanFile).
Bi ves [] no
3. IstheFilecomplete?(IfYes,pleaseattachpertinentdocumentation).
yes L] No
4. Isthe subrecipienta successorto or affiliatedwith anotherindividualor businessthathas
Grant/LoanwiththeAgency?
Bi ves C1 no
IfYes,nameofPredecessor/Affiliate:CubedPartners,LLC

5._ IsaformerDistrictemployeeanowner,officer,oraffiliateofthesubrecipient?
__| Yes [BPNo
IfYes, Name and Affiliation:
Pleasediscussanyothercriticalissuessuchastimeconstraints;healthandsafetyissues;or
financial/revenueproductionissuesthatshouldbeknown.
FUTUREINFORMATION/DOCUMENTATIONTOBESUBMITTEDTOAUTHORITY
IFGrant/LoanISAWARDED

1. Oo ‘AwardDate 4. [_]ClaimsBy/AgainstGrant/Loan
2 Ey ExrirationDae 5.LE]CenifiedCompletionDate
2 oO Amendments 6. oO Final Payment Date

Page3of4
CERTIFICATIONS
IcertifythatthisproposedloanbetweentheDepartmentofHousingandCommunityDevelopment(DHCD)and950 EasternAve TM LLC inthe amountof $22,337,482 from the Districtof Columbia Housing ProductionTrust
Fundwillfinanceeligibleacquisitioncosts,predevelopme!

softcostsandconstructionhardcoststodevelop56affordablehousingunitslocatedat950EasternAvenueinWard7andisincompliancewiththeapplicableFederalandDistrictofColumbiaRegulationsandDHCD’spoliciesandprocedures.
Ca 5/2/20ColleenGreen Bate
Director,DHCD
ly May1,2026
ChrisEarley Date
DeputyDirector,DHCD
ThavereviewedthisGrant/Loan/LeaseactionandhavedeterminedthatitiswithintheDistrict's
FinancialPlanandBudgetforFY2026 andthatfundsareavailabletosupporttheaction.
DigitallysignedbyBethanySpooner
BethanySpooner Date2026050610838-0400"
BethSpooner Date
Agency FiscalOfficer,DHCD

DETERMINATION
Ihave reviewed thisGrant/Loan/Lease actionand have determined thatitiswithintheDistrict's
FinancialPlanandBudgetforFY2026andthatfundsareavailabletosupporttheaction.
it DigitallysignedbyJoscairaJoscairaAkhran, —29talysanesby
JoscairaAkhranforLeroyClayCMO Date:2026.05061136.26-04'00"

LeroyClay,II Date
AssociateChiefFinancialOfficer
EconomicDevelopmentandRegulationCluster
Page4of4
kikemeeRS
YSaS
GOVERNMENT OFTHEDISTRICTOFCOLUMBIA
DEPARTMENTOFHOUSINGAND COMMUNITY DEVELOPMENT
OfficeoftheGeneralCounsel
MEMORANDUM
TO: MurielE,Bowser
Mayor
THRU: MichaelSpencer,GeneralCounsel7S
DepartmentofHousingandCommunityDevelopment
FROM: TonyaCondell,AssistantGeneralCounsel
DepartmentofHousingandCommunityDevelopment
DATE: April14,2026
SUBJECT: ProposedLoanintheprincipalamountnottoexceedTwenty-TwoMillion
‘ThreeHundredThirty-SevenThousandFourHundredEighty-Two
DollarsandZeroCents($22,337,482.00)(the"Loan")to950EasternAve
TM LLC (the“Borrower”)
TheproposedLoanisfundedbyHousingProductionTrustFund(“HPTE”)programfundsinan
amountnottoexceedTwenty-TwoMillionThreeHundredThirty-SevenThousandFour
HundredEighty-TwoDollarsandZeroCents($22,337.482.00).TheLoanproceedswillfinance
cligibleexpenses,includingacquisitioncosts,softcosts,andconstructionhardcosts,relatedto
thenewconstructionofFifty-Six(56)unitsatcertainrealpropertylocatedat950Eastern
Avenue,NE,Washington,DC 20019(the"Project").Fifty-Six(56)Projectunitsshallbe
reservedasaffordablehousingunits(the“ReservedUnits”).Thirteen(13)ReservedUnitsshall
beaffordabletoandoccupiedbyhouseholdsatorbelow30%ofAreaMedianIncome(“AMI”),
ofwhichThirteen(13)oftheFifty-SixReservedUnitsshallbereservedasPermanent

ce:
‘SupportiveHousingunits,andForty-three(43)oftheReservedUnitsshallbeaffordabletoand
occupiedbyhouseholdsatorbelow50%ofAMI.TheProjectaffordabilityrestrictionsshallbe
enforcedbyaffordabilitycovenantsthatrunwiththelandinperpetuity.
TheattachedLoanAgreementevidencingtheproposedcontracthasbeenpreparedbytheOffice
oftheGeneralCounseloftheDepartmentofHousingandCommunityDevelopmentandis
legallysufficientinaccordancewithallapplicablefederalandDistrictofColumbialaws.Ifyou
haveanyspecificquestionsregardingthisLoancontract,pleasecontactTonyaCondellon(202)
442-7186.
ColleenGreen,Director
TiphanieJones,ProjectManager,DFDMikaellBriscoe,DevelopmentFinanceOfficeCoordinator,DFD
GordonFletcher,LegislativeAffairsSpecialist
Loan Agreement (Revised Jan. 2023)

LOAN AGREEMENT
between
950 EASTERN AVE TM L.L.C.,
a District of Columbia limited liability corporation
as Borrower
and
DISTRICT OF COLUMBIA,
a municipal corporation,
acting by and through the DEPARTMENT OF
HOUSING AND COMMUNITY DEVELOPMENT
as Lender

Dated as of , 2026

DHCD Contract No. 2026-31
Project Name: 950 Eastern Avenue

Loan Agreement (Revised Jan. 2023) i
TABLE OF CONTENTS
Page
Section 1. Definitions............................................................................................................... 1
Section 2. Loan ........................................................................................................................ 8
2.1. Generally ................................................................................................................. 8
2.2. Making of Payments ............................................................................................... 8
2.3. Use of Loan Proceeds ............................................................................................. 8
2.4. Additional Financing .............................................................................................. 8
Section 3. Reserved .................................................................................................................. 9
Section 4. Requirements and Conditions for Loan Disbursements ......................................... 9
4.1. Initial Disbursement ................................................................................................ 9
4.2. Subsequent Disbursements ................................................................................... 10
4.3. Final Disbursement ............................................................................................... 10
4.4. Payment Procedures and Requirements ................................................................ 10
4.5. Conditions Precedent to Subsequent Disbursements ............................................ 11
4.6. Retainage............................................................................................................... 13
4.7. Additional Conditions for Final Disbursement ..................................................... 13
4.8. Final Adjustment to Loan After Closing .............................................................. 15
4.9. Insufficiency of Loan Proceeds ............................................................................ 16
4.10. Authorized Disbursements .................................................................................... 16
4.11. Disbursements Not a Waiver ................................................................................ 17
4.12. Stored Materials .................................................................................................... 17
4.13. No Escrow ............................................................................................................. 17
Section 5. Representations and Warranties ............................................................................ 17
5.1. Status ..................................................................................................................... 17
5.2. Authority ............................................................................................................... 17
5.3. No Conflicting Agreements .................................................................................. 17
5.4. Litigation ............................................................................................................... 17
5.5. Financial Information............................................................................................ 17
5.6. Receivership .......................................................................................................... 18
5.7. Tax Returns ........................................................................................................... 18
5.8. Liens on Property .................................................................................................. 18
5.9. Utilities .................................................................................................................. 18
5.10. Roads..................................................................................................................... 18
5.11. Zoning and Land Use. ........................................................................................... 18
5.12. Cost Breakdown .................................................................................................... 18
5.13. OFAC List ............................................................................................................. 19
Section 6. Covenants .............................................................................................................. 19
6.1. Construction of Project ......................................................................................... 19
6.2. Insurance ............................................................................................................... 19
6.3. Accounting/Audit Requirements .......................................................................... 19

Loan Agreement (Revised Jan. 2023) ii
6.4. Inspection .............................................................................................................. 19
6.5. Maintenance and Repair ....................................................................................... 19
6.6. Obstructions .......................................................................................................... 20
6.7. Permits, Licenses .................................................................................................. 20
6.8. Structural Injury, Nuisance, Waste and Other Prohibited Uses ............................ 20
6.9. Compliance with Laws ......................................................................................... 20
6.10. Reporting............................................................................................................... 20
6.11. Records and Retention .......................................................................................... 21
6.12. Payment of Obligations......................................................................................... 21
6.13. Notices .................................................................................................................. 22
6.14. Further Assurances................................................................................................ 22
6.15. Fees of Lender’s Agents ....................................................................................... 22
6.16. Performance of Other Agreements ....................................................................... 22
6.17. Acknowledgement of Lender Financing ............................................................... 22
6.18. Property Management ........................................................................................... 22
6.19. Affordability Covenants........................................................................................ 23
6.20. Hazardous Materials Indemnity ............................................................................ 23
Section 7. Default; Remedies ................................................................................................. 24
7.1. Defaults ................................................................................................................. 24
7.2. Remedies of Lender on Event of Default ............................................................. 25
7.3. No Remedy Exclusive; Delays or Omissions; Waiver of Breach......................... 27
Section 8. Additional Local and Federal Requirements Applicable to Borrower ................. 28
Section 9. Conflict Of Interest/ Limit of Liability ................................................................. 30
Section 10. Notice of Non-Discrimination .............................................................................. 31
Section 11. Freedom of Information Act ................................................................................. 31
Section 12. Antideficiency Act Limitations............................................................................. 32
Section 13. Miscellaneous ....................................................................................................... 32
13.1. Reimbursement of Disbursements Made or Other Costs Incurred by Lender ...... 32
13.2. Interest on Additional Payments and Reimbursements ........................................ 32
13.3. Indemnification of Lender .................................................................................... 32
13.4. Nonassignability ................................................................................................... 33
13.5. Liability of Lender ................................................................................................ 33
13.6. No Partnership, Joint Venture, Agency ................................................................ 33
13.7. Waiver of Jury Trial/ Service of Process/ Court Costs ......................................... 33
13.8. No Third Party Beneficiaries ................................................................................ 34
13.9. Counterparts .......................................................................................................... 34
13.10. Notices .................................................................................................................. 34
13.11. Amendment ........................................................................................................... 35
13.12. Survival of Agreements ........................................................................................ 35
13.13. Entire Agreement; Successors and Assigns; Time of Essence ............................. 35

Loan Agreement (Revised Jan. 2023) iii
13.14. Severability ........................................................................................................... 35
13.15. Descriptive Captions; Headings ............................................................................ 35
13.16. Construction .......................................................................................................... 35
13.17. Governing Law ..................................................................................................... 35
13.18. Conflict with Program Requirements ................................................................... 35

The following exhibits and riders attached hereto are incorporated into and deemed part of this
Agreement.
Exhibits
Exhibit A Summary of Loan Terms
Exhibit B Project Budget
Exhibit C Construction Draw Schedule
Exhibit D Federal Labor Standards Contract Addendum
Exhibit E Davis-Bacon Wage Determination
Exhibit F Section 3 Contract Addendum
Exhibit G Development Team Debarment Affidavit
Exhibit H Insurance Requirements
Exhibit I Certification of Borrower’s Representations and
Warranties
Exhibit J Form of Final Loan Reduction Certificate
Exhibit K Form of Net Cash Flow Calculation Worksheet
Exhibit L Modifications to Loan Agreement

Riders
Rider 1 Low-Income Housing Tax Credit Provisions

LOAN ERMRNT
THIS LOAN AGREEMENT (this "Agreemenf") is made as of this
-
day of ,
2026 from 950 EASTERN AVE TM L.L.C., a District of Columbia limited liability corporation
("]}orrower"), and the DISTRICT OF COLUMBIA, a municipal corporation, acting by and
through the DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
("Lentler")
RECITALS
A. Borrower owns the real property in the District of Columbia located at 950 Eastern
Avenue, NE, Washington, DC;
B. Borrower has applied to Lender for a loan in a total principal amount not to exceed
TWENTY-TWO MILLION THREE HUNDRED THIRTY-SEVEN THOUSAND FOUR
HLTNDRED EIGHTY-TWO and 00/100 Dollars (522,337,482.00)' (the "@"), the proceeds of
which shall be used by Borrower to ftnance the Project (as def,rned below); and
C. Lender has agreed to make the Loan on the terms set forth in this Agreement.
NOW, THEREFORE, in consideration of the mutual promises and covenants contained
herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
Section L. Definitions As used herein:
"Act of Bankruptcy" means the filing of a petition in bankruptcy under the United States
Bankruptcy Code, 1l U.S.C. $ 101 e/ seq. (and all future acts supplemental thereto or amendatory
thereof) or the commencement of a proceeding under any other applicable law concerning
insolvency, reorganization or bankruptcy by or against Borrower or any guarantor, as debtor.
"Affordable Housing Covenant" means that certain Affordable Housing Covenant by
Borrower for the benefit of Lender, which sets forth Borrower's covenants to rent the Affordable
Units to Qualified Tenants in accordance with the Program Requirements and the Loan
Documents, which agreement shall be recorded against the Property as a covenant running with
the land.
I Borrower aclcnowledges and agrees that it is executing this Agreentent ahead of the Closing Date
in order to obtain the necessary approvals by the D.C. Council. Borrower further acknowledges
and agrees that the Loan amount nxay be adjusted ahead of the Closing Date in accordance with
the loan requirements set forth in the Comntitment Letter
Borrower
Loan Agreement (Revised Jan.2023)
(initial)

Loan Agreement (Revised Jan. 2023) 2
“Affordability Period” means the period during which Borrower shall operate the Project
as affordable housing units in compliance with the Affordable Housing Covenant and the Program
Requirements.
“Affordable Unit” means a residential housing unit that is reserved for and leased to
Qualified Tenants at the applicable income limit for such unit and at rents that are affordable
pursuant to the Affordable Housing Covenant. “Affordable Unit” as used herein has the same
meaning as “Reserved Unit” as used in the HPTF Program Requirements. Notwithstanding any
provision to the contrary, an Over-Income Tenant (as such term is defined in the Affordable
Housing Covenant) may occupy an Affordable Unit, however, once such tenant vacates an
Affordable Unit, the Affordable Unit shall be rented to income eligible households in accordance
with the Affordable Housing Covenant and the Program Requirements. “Affordable Unit Index”
has the meaning set forth in the Affordable Housing Covenant.
“Agreement” has the meaning set forth in the Preamble.
“Annual Owner Certification” means that certain certification pre pared and executed by
Borrower and submitted to Lender , which certifies that all Affordable Units have been rented
exclusively to Qualified Tenants at rent levels consistent with the Affordable Housing Covenant
and the Program Requirements. The Annual Owner Certification is submitted to Lender through
its electronic asset management portal, also known as the DHCD-PAMD Owner/Borrower portal.
“Architect” means the architect for the Project and its successors and assigns.
“Attorneys’ Fees and Costs” means all reasonable costs and expenses (including, without
limitation, reasonable attorneys' fees and disbursements of Lender's counsel, whether in- house
staff, retained firms or otherwise) incurred by Lender or Trustee (as such term is defined in the
Deed of Trust) in connection with Borrower’s default under the Loan Documents.
“Authority” means any governmental entity having jurisdiction over all or part of the
Property, the Project, or over a party hereto.
“Borrower” has the meaning set forth in the Preamble.
“Change Order” has the meaning set forth in Section 4.5.7.
“Closing Date” means the date of this Agreement.
“Completion Date” means __________, 2026, as may be extended with the prior written
consent of Lender.
“Construction Contract” means the agreement to be entered into between Borrower as
owner and the Contractor for the Project.
“Construction Draw Schedule” means the Lender-approved draw schedule attached hereto
as Exhibit C and incorporated herein.
“Contractor” means the general contractor for the Project and its successors and assigns.

Loan Agreement (Revised Jan. 2023) 3
“Cost Savings” has the meaning set forth in Section 4.8.1.
“Deed of Trust” means the Deed of Trust, Assignment of Leases and Rents and Security
Agreement delivered from Borrower to Lender’s trustee for the benefit of Lender, and will be
recorded in the land records of the District of Columbia to secure the Loan as evidenced by the
Note.
“Draft Loan Reduction Calculation” has the meaning set forth in Section 4.8.1.
“Due Diligence and Closing Checklist” has the meaning set forth in the Loan Commitment.
“Equity Investor" has the meaning set forth in the LIHTC Rider attached hereto at Rider
1.
“Event of Default” has the meaning set forth in Section 7.1.
“Excess Proceeds” has the meaning set forth in Section 4.8.1.
“Fifty Percent (50%) Completion” means the date on which fifty percent (50%) of the
construction and/or rehabilitation of the Project, and all improvements, have been completed, in a
good and workmanlike manner, defect-free and free from mechanic’s and materialmen’s liens, and
in accordance with all applicable laws and codes, the Plans and Specifications, the relevant Loan
Documents and all environmental remediation laws, as evidenced by a signed certificate from the
Architect, which certificate may be included as part of the Payment Request delivered to Lender,
indicating that fifty percent (50%) of the construction and/or rehabilitation of the Project, and all
improvements, have been completed in accordance with all applicable laws and codes, the Plans
and Specifications, the relevant Loan Documents and all environmental remediation laws.
“Fifty Percent (50%) Completion Meeting” means the progress meeting convened by
Lender following Fifty Percent (50%) Completion.
“Final Loan Reduction Calculation” has the meaning set forth in Section 4.8.1.
“Final Loan Reduction Certificate” means that certain certificate prepared and executed by
Borrower, in substantially the form attached hereto as Exhibit J, which certifies the amount of
Final Loan Reduction Calculation in accordance with Section 4.8.1.
“Financing Statements” means the UCC financing statements, evidencing the Loan, that
shall be recorded in the land and chattel records, as applicable, of the District of Columbia to secure
Lender’s lien on the fixtures and equipment located at the Property.
“Fiscal Year” means the fiscal year of Borrower, which is [January 1 to December 31].
“FOIA” has the meaning set forth in Section 11.1.
“Hazardous Materials ” means any substance (i ) the presence of which requires
investigation, remediation, or special handling under any Federal, state or local statute, regulation,
ordinance, order or policy; or (ii ) is or becomes a “ hazardous substance” or “hazardous waste”

Loan Agreement (Revised Jan. 2023) 4
under any F ederal, state or local statute, regulation, ordinance, order or policy, including the
Resource Conservation and Recovery Act of 1976 (42 U.S.C. § 9601 et seq.), as amended from
time to time, or the Comprehensive Environmental Response, Compensation and Liability Act of
1980 (42 U.S.C. § 9601 et seq. ), as amended from time to time; and (iii) without limitation,
includes any lead, oil or petroleum products, polychlorinated bi -phenyls, PCB's, asbestos, urea
formaldehyde foam insulation or radon gas, except as such products are customarily found or used
in similar projects.
“Household” means all persons who will occupy the Affordable Unit, including the
tenant’s spouse or domestic partner, all children under eighteen (18) years of age, and all other
persons over eighteen (18) years of age who will be occupying the Affordable Unit.
“HUD” means the U.S. Department of Housing and Urban Development.
“Human Rights Act” has the meaning set forth in Section 10.
“Improvements” means all structures or buildings now or hereafter erected or placed on
the Property, together with any and all alterations, additions, accessions and replacements thereof.
“Increased Sources” has the meaning set forth in Section 4.8.1.
“Lender” has the meaning set forth in the Preamble.
“Lender Retainage” means an amount equal to the lesser of ten percent (10%) of the
Construction Contract or ten percent (10%) of the Loan amount that shall be reserved until the
final disbursement of Loan proceeds. As set forth in Exhibit A, the Lender Retainage for this
Project is $2,233,748.
“Loan” has the meaning set forth in the Recitals.
“Loan Commitment” means Lender’s letter of conditional commitment, and any
modifications thereto. In the event of a conflict in terms between this Agreement and the Loan
Commitment, this Agreement shall control.
“Loan Documents” means, collectively, this Agreement, the Note, the Deed of Trust, the
Affordable Housing Covenant, the Financing Statements, the Loan Commitment and any other
documents required by Lender from Borrower, as a condition precedent to disbursing the Loan
proceeds or to evidence or secure this Loan. All Loan Documents shall be incorporated herein by
reference.
“Loan Term” means the term of the Loan from the Closing Date to the Maturity Date.
“Median Family Income” or “MFI” means the median family income for a Household of
four (4) persons in the “Washington Metropolitan Statistical Area” as periodically published by
HUD, and adjusted for Household size without regard to any adjustments made by HUD for the
purposes of the programs it administers, as may be adjusted by Lender to establish income limits
pursuant to the Program Requirements . MFI is also known as Area Median Income or AMI.
Notwithstanding anything to the contrary herein, the maximum Household income for a Qualified

Loan Agreement (Revised Jan. 2023) 5
Tenant at eighty percent (80%) MFI shall be adjusted pursuant to Section 42(g)(4) of the Internal
Revenue Code.
“Net Cash Flow Calculation Worksheet” means that certain worksheet prepared and
executed by Borrower, in substantially the form attached hereto as Exhibit K, which demonstrates
Borrower’s annual calculation of Net Cash Flow (as such term is defined in the Note) and payments
owed to Lender pursuant to the Note.
“Note” means that certain Deed of Trust Note made by Borrower, of even date herewith,
as amended, modified, or supplemented from time to time, which evidences Borrower’s promise
to Lender to repay the Loan under the terms and conditions of the Loan Documents.
“Notice” has the meaning set forth in Section 13.10.
“OFAC” has the meaning set forth in Section 5.13.
[“Operating Agreement” means the Second Amended and Restated Operating Agreement
of Borrower, dated as of the Closing Date, as may be amended.]
“OPM” has the meaning set forth in Section 4.7.1.
“Other Contingency Use” has the meaning set forth in Section 4.5.7.
“Payment Request” has the meaning set forth in Section 4.4.
“Permanent Loan Closing Date” has the meaning set forth in Section 4.8.1.
“Permitted Transfer” means the transfers permitted in accordance with Section 1.11 of the
Deed of Trust.
“Person” means a natural person, trustee, corporation, partnership, limited liability
company or other legal entity.
“Plans and Specifications” means the plans and specifications approved or to be approved
by Lender for the Project.
“Program Requirements” means[, collectively]
 The requirements of the Housing Production Trust Fund, including, but not limited
to, the Housing Production Trust Fund Act of 1988, D.C. Law 7 -202, D.C. Official Code § 42-
2801 et seq. (2001 ed.) and 10B DCMR Chapter 41, both the statutes and regulations, as may be
amended from time to time (collectively, the “HPTF Program Requirements”).

 The requirements of the Section 8 project-based voucher program, including, but
not limited to, the Federal and District of Columbia Housing Choice Voucher Program rules and
regulations at 24 CFR Part 982 and 983 and 14 DCMR Chapters 49, 51, 53, 54, 56, 59, 61, 93 and

Loan Agreement (Revised Jan. 2023) 6
95. The Section 8 project -based voucher program is administered by the District of Columbia
Housing Authority.
 The requirements of the Local Rent Supplement Program, including, but not limited to,
the Federal and District of Columbia Housing Choice Voucher Program rules and regulations at
24 CFR Part s 982 and 983, and 14 DCMR Chapters 49, 51, 53, 54, 56, 59, 61, 93 and 95. The
Local Rent Supplement Program is administered by the District of Columbia Housing Authority.

 The requirements of the Permanent Supportive Housing Program, which provides
supportive housing for an unrestricted period of time for individuals and families who were once
homeless and continue to be at imminent risk of becoming homeless, including persons with
disabilities as defined in 24 CFR § 582.5, for whom self -sufficient living may be unlikely and
whose care can be supported through public funds. See D.C. Official Code § 4- 751.01(28).
Affordable Units that are subject to the Permanent Supportive Housing Program shall be operated
in accordance with HUD’s Housing First model and vacancies shall be filled through the
Coordinated Entry System. The Permanent Supportive Housing Program is administered by the
District of Columbia Department of Human Services.

 The requirements of the District of Columbia Department of Behavioral Health
Permanent Supportive Housing Program, including but not limited to The Department of
Behavioral Health Establishment Act of 2013, D.C. Law 20 -61, D.C. Official Code § 7- 1141.01
et seq. and that certain Memorandum of Understanding Between the Department of Behavioral
Health and the Department of Housing and Community Development, effective June 16, 2014, as
amended, that provides for financing development of long-term supportive housing units in the
District of Columbia for the exclusive use of Department of Behavioral Health consumers.
 The requirements of the HOME Investment Partnerships Program , including, but
not limited to, the Federal rules and regulations at 24 CFR Part 9 2 and the HOME Written
Agreement by and between Borrower and Lender, dated as of substantially even date herewith.
 The requirements of the National Housing Trust Fund Program, including, but not
limited to, the Federal rules and regulations at 24 CFR Part 93.
 The requirements of the Community Development Block Grant Program ,
including, but not limited to, the Federal rules and regulations at 24 CFR Part 570.
 The requirements of the Section 108 Loan Guarantee Program , including, but not
limited to, the Federal rules and regulations at 24 CFR Part 570, Subpart M and that certain
Contract for Loan Guarantee Assistance under Section 108 of the Housing and Community
Development Act of 1974, as amended, 42 U.S.C. § 5308 et seq., by and between Lender and
HUD, dated ___________ (collectively, the “Section 108 Program Requirements”).
 The requirements of the Housing for Older Persons Act, including, but not limited
to, 42 U.S.C § 3607 et seq. and the Federal rules and regulations at 24 CFR Part 100.

Loan Agreement (Revised Jan. 2023) 7
 The requirements of the Housing Opportunities for Persons with AIDS Act,
including, but not limited to, 42 U.S.C. § 12901 et seq. and the Federal rules and regulations at 24
CFR Part 574.
“Project” means, collectively, the Improvements located or to be built on the Property that
will be financed with the Loan proceeds pursuant to this Agreement, and used as a rental housing
development.
“Project Budget” means the sources and uses of the Project and the specific uses of the
Loan proceeds that are set forth in Exhibit B attached hereto.
“Property” has the meaning set forth in the Deed of Trust.
“Qualified Tenants” means Households whose household income qualifies for the income
limit for the particular Affordable Unit the Household is leasing, as set forth in the Affordable
Housing Covenant and meets any additional criteria set forth in the Progr am Requirements. A
Qualified Tenant shall include any Over-Income Tenant who has a valid written lease and was in
good standing at the Project prior to the date of this Agreement.
“Registered Agent” means Amarachi Oke, 3321 Georgia Ave NW, Unit 43075,
Washington, DC 20010.
“Rent” means the occupancy charge for each housing unit and any commercial or retail
space, if applicable, in the Project pursuant to a proprietary lease, lease or other occupancy
agreement between the tenant and Borrower.
“Returned Funds” has the meaning set forth in Section 4.8.1.
“Satisfaction Letter” has the meaning set forth in Section 4.7.9.
“Senior Lender” has the meaning set forth in the Deed of Trust.
“Senior Loan” means any loan from a Senior Lender, as evidenced by a promissory note,
and other instruments, agreements and documents by and between Borrower and Senior Lender,
to evidence, secure or guarantee the repayment of the Senior Loan.
“Senior Loan Documents” means all of the financing documents entered into between
Borrower and the Senior Lender to evidence the Senior Loan.
“Seventy-Five Percent (75%) Completion” means the date on which seventy- five percent
(75%) of the construction and/or rehabilitation of the Project, and all improvements, have been
completed, in a good and workmanlike manner, defect-free and free from mech anic’s and
materialmen’s liens, and in accordance with all applicable laws and codes, the Plans and
Specifications, the relevant Loan Documents and all environmental remediation laws, as evidenced
by a signed certificate from the Architect, which certificate may be included as part of the Payment
Request delivered to Lender, indicating that seventy-five percent (75%) of the construction and/or
rehabilitation of the Project, and all improvements, have been completed in accordance with all

Loan Agreement (Revised Jan. 2023) 8
applicable laws and codes, the Plans and Specifications, the relevant Loan Documents and all
environmental remediation laws.
“Subordinate Loan(s)” has the meaning set forth in the Deed of Trust.
“UCC” has the meaning set forth in Section 7.2.7.
“VAWA” has the meaning set forth in Section 8.
Section 2. Loan.
2.1. Generally.
2.1.1. Use and Purpose. Borrower agrees to borrow from Lender, and Lender
agrees to lend to Borrower, the Loan proceeds; such Loan proceeds shall be used by Borrower for
the uses specified in the Project Budget, subject to Section 2.2 herein, and subject to all of the
terms, provisions and conditions of this Agreement.
2.1.2. Expenses and Disbursements Secured by Deed of Trust . The Loan
proceeds, Attorneys’ Fees and Costs (if any) and all other Loan expenses, as and when disbursed
or incurred by Lender, will be secured by the Deed of Trust.
2.2. Making of Payments . All payments (including prepayments) of principal of, or
interest on, the Loan, shall be made in accordance with the terms of the Note. All such payments
shall be made without any set-off or counterclaim, and free and clear of any restrictions or
conditions, and free and clear of and without deduction for or on account of, any present or future
taxes, levies, imposts, duties, charges, fees, deductions or withholdings of any nature now or
hereafter imposed by any governmental or other authority.
2.3. Use of Loan Proceeds . In compliance with and subject to all terms of this
Agreement, Lender will disburse the Loan to or for the account of Borrower. Borrower shall
provide to Lender a cost breakdown, in trade form, and loan budget, which shall be approved by
Lender, in its sole discretion. Lender shall disburse the proceeds of the Loan, so long as no Event
of Default (defined herein) has occurred and is continuing, only for purposes that are permitted by
the Program Requirements, and for no other purposes. Furthermore, the Loan proceeds shall only
be applied to the uses specified in the Project Budget, except as may be modified with the prior
written consent of Lender, which consent shall not be unreasonably withheld, conditioned or
delayed.
2.4. Additional Financing.
2.4.1. Except for the Senior Loan(s) and the Subordinate Loan(s), Borrower
shall not receive any additional funds from any source, concerning this Project without the express
written consent of Lender, except that Borrower shall be permitted to refinance the balance of the
Senior Loan at any time, (i) for not more than the outstanding balance of principal and accrued
interest and reasonable and necessary closing costs, (ii ) for a term that does not exceed the
remaining term of the Loan, and (iii ) upon terms that L ender has determined as commercially
reasonable and for which Lender has provided its prior written approval in accordance with the

Loan Agreement (Revised Jan. 2023) 9
Program Requirements (which approval shall not be unreasonably withheld, conditioned or
delayed).
2.4.2. If the Loan is subject to the Section 108 Program Requirements, neither
Lender nor Borrower shall enter into an intercreditor or subordination agreement with another
lender without HUD’s prior written approval.
Section 3. Reserved.
Section 4. Requirements and Conditions for Loan Disbursements . Lender’s obligation to
make any disbursement of Loan proceeds is subject to Borrower’s satisfaction of the following
requirements and conditions, subject in all respects to Section 2.3:
4.1. Initial Disbursement:
4.1.1. If applicable, an initial amount of Loan proceeds shall be disbursed on
the Closing Date in the form of a wire to fund costs that are approved by Lender and eligible to be
paid with Loan proceeds as determined at Lender’s sole discretion, regardless of when the costs
were incurred.
4.1.2. Lender’s obligation to make the initial disbursement of Loan proceeds is
subject to Borrower’s satisfaction of the following requirements and conditions unless waived in
writing by Lender:
(1) Borrower must obtain, at its sole cost and expense, and submit to Lender
evidence that it has satisfied each of the Closing Conditions (as such term
is defined in the Loan Commitment), which shall be subject to Lender’s
review and approval, both as to substance and form, and shall be updated
and effective as of the date hereof.
(2) On or before the Closing Date, Borrower shall have executed and delivered
to Lender the Loan Documents to be executed by Borrower and all other
documents and instruments required from Borrower and Lender in
connection with the Loan.
(3) Lender shall have received an opinion of Borrower’s counsel to the effect
that Borrower is duly organized and validly existing and in good standing
under the laws of the state of its organization, authorized to do business in
the District of Columbia, with full power to own the Project and to execute,
deliver and perform its obligations under this Agreement; that the Loan
Documents executed and delivered for the Loan are valid and legally
binding and enforceable against Borrower in accordance with their
respective terms, subject to laws pertaining to bankruptcy and insolvency;
and opining as to such other matters as may be required by Lender.
(4) The representations and warranties set forth in Section 5 shall be true and
correct in all material respects on and as of the Closing Date, and no Event
of Default shall then exist under this Agreement.

Loan Agreement (Revised Jan. 2023) 10
(5) The Deed of Trust and the related UCC financing statements and all other
Loan Documents requiring filing or recordation shall have been filed or
recorded in the appropriate public records as necessary and appropriate to
evidence and perfect the liens and security interests thereby created.
(6) Satisfy the payment and procedures requirements set forth in Sections 4.4.1
– 4.4.4.
4.2. Subsequent Disbursements:
4.2.1. Following the initial disbursement, Lender shall retain the balance of the
Loan proceeds to fund subsequent disbursements in accordance with the Project Budget and the
Construction Draw Schedule, subject to the requirements set forth in Sections 4.4 and 4.5.
4.2.2. Lender will make subsequent disbursements of the Loan proceeds to
Borrower in the form of an Automated Clearing House (ACH) payment.
4.2.3. Lender will make subsequent disbursements of the Loan proceeds to
Borrower in a timely manner, subject to the requirements set forth in Sections 4.4 and 4.5.
4.3. Final Disbursement: The conditions for the final disbursement of Loan proceeds
are further described in Section 4.7, and Lender’s ability to withhold a portion of funds from the
final disbursement is further described in Section 4.8.
4.4. Payment Procedures and Requirements : Borrower shall submit to Lender a
fully executed, complete, and accurate disbursement or draw request package ( the “Payment
Request”), as hereafter described, at least thirty (30) days before the date funding is being
requested. Payment procedures and requirements are as follows:
4.4.1. Borrower’s submission of the Payment Request must document eligible
costs in accordance with the Project Budget and Construction Draw Schedule, as the same may be
adjusted from time-to-time as construction progresses with Lender approval, if applicable.
4.4.2. Borrower shall create and submit Payment Requests in an electronic
format through the DC Vendor Portal or a successor system . The DC Vendor Portal is an online
system that allows Borrower/vendor to create and submit invoice packages by selecting the
applicable purchase order number. All Borrowers/vendors must be registered in the portal prior to
invoice submission. Additional details and instructions are available on the portal website.
4.4.3. Each Payment Request must be submitted in the form of a proper invoice
package to Lender, including all required forms and documents, in accordance with Lender’s most
recent published guidelines. Per Lender’s published guidelines and in accordance with Section 4.5,
Lender may require additional substantiating documentation be included as part of the Payment
Request submitted through the DC Vendor Portal or shared separately utilizing Lender’s cloud
platform for construction period monitoring.
4.4.4. Each Payment Request shall include the Certification of Borrower’s
Representations and Warranties, attached hereto at Exhibit I and incorporated herein, and shall be

Loan Agreement (Revised Jan. 2023) 11
submitted through the DC Vendor Portal. The Payment Request shall also contain all details
concerning the Project which Lender reasonably requires, and adequate supporting documentation
to substantiate every expenditure that Lender is requested to fund.
4.4.5. If the Loan proceeds will be used to fund construction costs, the Payment
Request must include a copy of the Contractor’s application for payment to Borrower, signed by
the Architect and confirmed by Lender’s inspector, on notarized AIA Forms G702 and G703 or
other forms acceptable to Lender. The Contractor’s application for payment shall be subject to the
Senior Lender’s retainage requirements, as applicable.
4.4.6. Disbursements shall be made within thirty (30) days of Lender’s receipt
of a proper Payment Request.
4.4.7. Lender shall not be required to disburse more frequently than once every
thirty (30) days.
4.4.8. Regardless of whether Borrower is requesting a disbursement of Loan
proceeds for a particular month, Borrower shall provide Lender with a copy of each disbursement
or draw request submitted to the Senior Lender or other financing parties on a monthly basis. This
copy shall include the monthly application for payment from the C ontractor and documentation
for all other expenditures for which funding from other parties is being requested.
4.5. Conditions Precedent to Subsequent Disbursements . Lender’s obligation to
make any disbursements hereunder shall be subject to the procedures and requirements in
Sections 4.4 and Borrower’s satisfaction of the following conditions, as determined by Lender in
its sole discretion:
4.5.1. Confirmation that any outstanding items on the Due Diligence and
Closing Checklist have been provided to Lender, including final executed and recorded documents
that were not available at the time of initial disbursement. Lender shall be in receipt of a final
electronic closing binder.
4.5.2. Lender has held a preconstruction meeting for the Project and issued a
Notice to Proceed to Borrower and Contractor.
4.5.3. Following Fifty Percent (50%) Completion as determined by the
Architect, Lender shall hold a Fifty Percent (50%) Completion Meeting. The Fifty Percent (50%)
Completion Meeting must be conducted to Lender’s satisfaction and any outstanding compliance
concerns must be addressed before Lender shall make disbursements subsequent to Fifty Percent
(50%) Completion.
4.5.4. Field progress meetings shall be held on a regularly scheduled monthly
basis. Borrower, Contractor, Architect, and all necessary subcontractors shall agree on the
percentage of work completed and in place, and the amount of stored and insured materials on-site
and off-site. Borrower s hall be responsible for notifying all of the parties above of the time and
date of the meeting in advance. If Lender’s representative is unable to attend in person or virtually
to its satisfaction, Lender reserves a right to inspect the work performed for which a disbursement
is sought or otherwise inspect the condition of the Project before providing its approval. If Lender

Loan Agreement (Revised Jan. 2023) 12
is unable to complete a physical inspection, date -stamped photographic evidence and/or video
footage that verifies the work completed and billed for in the Payment Request will be required,
in accordance with Lender’s published guidelines.
4.5.5. Lender shall have received such certifications of job progress, in form
satisfactory to Lender, as Lender may request, which shall include the most recent construction
progress report or construction monitoring report, as applicable, meeting minutes , a summary of
the P roject’s recently completed and upcoming construction activities, an updated schedule, a
description of significant Project issues, and the proposed resolution of such issues. Regardless of
whether Lender is being requested to disburse funding for hard costs, Borrower is expected to
submit a copy of the construction progress or construction monitoring report , as applicable, or
minutes to Lender on a monthly basis. In addition, Lender shall have received copies of all other
requested reports and documents, as available, required to satisfy requirements of Lender and other
applicable governmental agencies having jurisdiction over the Project. In this regard, Lender shall
have the right to inspect all books, records and accounts relating to such work, and may, at its
option, require execution by Borrower and any contractors, subcontractors, laborers and
materialmen of such affidavits, endorsements and releases as Lender deems necessary.
4.5.6. Lender shall have received a waiver and release of liens from the
Contractor, acknowledging receipt of payment for prior construction work performed and paid out
of prior Loan disbursements and other sources of funding. Unless waived by Lender, Borrower
shall also deliver to Lender waivers and r eleases of liens from all first- tier subcontractors and
suppliers that have furnished labor, material, or services included in all previous Payment
Requests. In addition, if any mechanic’s liens have been filed, Borr ower shall have given notice
and copies of such liens to Lender.
4.5.7. If Borrower requests payment for any changes to the approved Plans and
Specifications (the “Change Order”), the Change Order shall have been approved: (i) prior to
Seventy-Five Percent (75%) Completion, by the Senior Lender before any disbursement of Loan
proceeds; and (ii) after Seventy-Five Percent (75%) Completion, approved by both Lender and the
Senior Lender before any disbursement of Loan proceeds. If Borrower requests payment of soft or
other costs from other Project contingencies or line item savings (“Other Contingency Use”), the
request must be approved by Lender after Seventy-Five Percent (75%) Completion. If requested
by Lender, Borrower shall furnish all necessary Change Order and Other Contingency Use
documentation. Notwithstanding the foregoing, Lender reserves the right to review and approve
the scope and cost of any Change Order and Other Contingency Use, regardless of when the
Change Order and Other Contingency Use, as applicable, was incurred and regardless of whether
the Change Order and Other Contingency Use, as applicable, is to be funded with Loan proceeds
or other sources. Lender also reserves the right to withhold disbursement of Loan proceeds if
Lender determines, in its sole discretion, that the Project cannot be completed in accordance with
the approved Plans and Specifications with the undisbursed portion of the Loan and other
construction sources of funds
4.5.8. If requested by Lender, Borrower shall provide executed subcontracts or
any other supplemental documents deemed necessary to verify the Payment Request.

Loan Agreement (Revised Jan. 2023) 13
4.5.9. Unless waived by Lender, a date-down to its t itle policy at the time of
disbursement, ensuring the continued priority of the Deed of Trust and the absence of any
encumbrances not otherwise constituting a Permitted Encumbrance (as such term is defined in the
Deed of Trust) or permitted under the terms of this Agreement, together with such endorsement
Lender may reasonably require.
4.5.10. If requested by Lender, Borrower shall provide updates on its eff orts to
comply with applicable Federal and local hiring and contracting requirements.
4.5.11. No Event of Default, nor any event or state of facts , which with notice
or passage of time or both would constitute an Event of Default, s hall then exist under the Loan
Documents.
4.6. Retainage
4.6.1. Borrower is required to comply with the general retainage requirements
required by the Senior Lender and the Construction Contract.
4.6.2. The Lender Retainage shall be released in the final disbursement of Loan
proceeds upon satisfaction of the conditions specified in Section 4.7.
4.6.3. Notwithstanding the foregoing, Lender, in its sole discretion, may reduce
the original Lender Retainage amount by fifty percent (50%) only after the Fifty Percent (50%)
Completion Meeting has been conducted to Lender’s satisfaction and any outstanding compliance
concerns have been addressed to Lender’s satisfaction.
4.6.4. Lender’s disbursement of the Lender Retainage is subject in all respects
to the requirements set forth in Sections 4.7 and 4.8.
4.7. Additional Conditions for Final Disbursement . In addition to all other
conditions set forth in this Section 4 , Lender’s obligation to make the final disbursement of the
Loan proceeds, including release of the Lender Retainage, shall be subject to Lender’s receipt of
the following:.
4.7.1. Confirmation that the following matters have been addressed to the
satisfaction of the Lender’s Office of Program Monitoring (“OPM”):
(1) All certified payrolls required by Davis -Bacon and the Related Acts have
been submitted to Lender, and all subcontracts demonstrate compliance
without any unresolved wage variances or restitution.
(2) Final accessibility inspections for accessible units and common spaces have
been conducted by OPM.
(3) All required Section 3 reports have been submitted and approved by OPM.

Loan Agreement (Revised Jan. 2023) 14
(4) There are no outstanding crosscutting compliance violations for District
external agencies such as First Source, apprenticeship, minimum wage and
Certified Business Enterprises.
4.7.2. Updated Form 202, including comparison to the Project Budget as of the
Closing Date . If requested by L ender, satisfactory Change Order and Other Contingency Use
documentation must also be submitted.
4.7.3. Draft third party cost certifications for the Project from Borrower and
Contractor.
4.7.4. Completion of a final, in -person site visit by Lender’s inspector to
confirm all work was completed in accordance with approved P lans and Specifications. Final
approval of the Project in accordance with the Plans and Specifications, as built, is required.
4.7.5. A completed and notarized Contractor’s Certificate and Release Form
from Borrower.
4.7.6. Final waivers and releases of liens from the Contractor and first -tier
subcontractors and suppliers that have furnished labor, material, or services to Project. Conditional
lien releases are acceptable in cases where pending payments will be made upon release of the
Lender Retainage.
4.7.7. The issuance of a final or temporary certificate of occupancy for the
intended, funded use of the Project.
4.7.8. Architect’s Certificate of Substantial Completion (AIA G -704) with
corresponding punch-lists.
4.7.9. A letter for satisfaction from the Architect and Borrower for satisfactory
completion of the Project (the “Satisfaction Letter”). The Satisfaction Letter shall affirm that the
punch-list items associated with the AIA G-704 have been satisfied, or adequate funds reasonably
necessary to pay the costs of completion of remaining punch- list items, if any, as determined by
the Senior Lender, shall have been escrowed in accordance with the Senior Lender’s requirements.
In addition, the Satisfaction Letter shall co nfirm that certified warranties and related documents
required by the Construction Contract have been provided by the Contractor.
4.7.10. Copies of all permit trade inspection sign -off approvals, including, but
not limited to, electrical, plumbing, mechanical, structural and fire safety.
4.7.11. Documentation that the Project has been registered on the Housing
Locator Website (as such term is defined in the Affordable Housing Covenant).
4.7.12. Enterprise Green Communities Step 2 Certification or comparable
documentation acceptable to Lender.
4.7.13. Receipt of the final as -built Plans and Specifications certified by the
Architect and engineer of record.

Loan Agreement (Revised Jan. 2023) 15
4.7.14. Receipt of an as -built survey acceptable to Lender, unless waived by
Lender.
4.7.15. Copies of such additional permits and licenses for operation of the
Project, including, but not limited to, the business license for Borrower and its management
company, as may be necessary or required by an Authority.
4.7.16. Performance of all other obligations of Borrower under the Loan
Documents.
4.7.17. Confirmation that the Project is currently complying or has complied
with applicable initial lease-up income certification and tenant eligibility requirements set forth by
Lender’s Portfolio and Asset Management Division.
4.8. Final Adjustment to Loan After Closing
4.8.1. Lender and Borrower acknowledge and agree that Lender is making the
Loan to provide gap financing to ensure the completion of the Project and, therefore, at Lender’s
discretion the Loan may be reduced, or Lender may require repayment of the Loan, as follows:
(1) On a dollar ($1.00) for dollar ($1.00) basis for funds that were used for a
temporary purpose to the extent that such funds are or will be subsequently
returned to Borrower (the “Returned Funds”). Such funds include but are
not limited to : refunded deposits, financing fees required by District
agencies, lenders, or other parties.
(2) On a fifty cents ($0.50) for every dollar ($1.00) basis for any other net
reduction in total costs shown in the Project Budget due to unspent
contingency funds, unspent short-term reserves or other budget savings (the
“Cost Savings ”), unless the Cost Savings are utilized to cover an
unanticipated decrease in other Project sources as reflected in an amended
Project Budget. The remaining fifty percent (50%) of Cost Savings shall be
applied in accordance with the Senior Loan Documents or the terms of the
Operating Agreement, as applicable.
(3) On a fifty cents ($0.50) for every dollar ($1.00) basis for any increase in
funding that is committed to the Project after the Closing Date over and
above the funding sources shown in the final Project Budget, unless the
increase in funding is obtained from a non- Lender source to cover an
unanticipated increase in the costs of the Project or a decrease in other
sources available for the Project as reflected in an amended Project Budget
(the “Increased Sources”). The remaining fifty percent (50%) of the
Increased Sources shall be applied in accordance with the Senior Loan
Documents or the terms of the Operating Agreement, as applicable.
(4) Borrower shall calculate any Returned Funds, Cost Savings, and Increased
Sources (collectively, “Excess Proceeds”) and notify Lender of the
anticipated loan reduction amount (the “Draft Loan Reduction

Loan Agreement (Revised Jan. 2023) 16
Calculation”) prior to requesting its final disbursement from Lender by
submitting a draft Loan Reduction Certificate. If the Draft Loan Reduction
Calculation is less than the remaining Lender Retainage, Lender reserves
the right to withhold disbursing an equal portion of the remaining Lender
Retainage, unless Borrower can demonstrate that doing so would result in
a construction/stabilization period funding gap for the Project. If the Draft
Loan Reduction Calculation exceeds the remaining Lender Retainage,
Lender reserves the right to withhold disbursing all of its remaining Loan
proceeds, including the remaining Lender Retainage, unless Borrower can
demonstrate that doing so would result in a construction/stabilization
period funding gap for the Project.
(5) Borrower shall update the Draft Loan Reduction Calculation by submitting
a revised Loan Reduction Certificate (the “Final Loan Reduction
Calculation”) with the Borrower’s request for a United States Department
of the Treasury Internal Revenue Service Low -Income Housing Credit
Allocation and Certification (Form 8609).
4.8.2. If the Final Loan Reduction Calculation pursuant to this section exceeds
the remaining Lender Retainage, or if the full amount of Lender Retainage has previously been
released, the net amount of Excess Proceeds due to Lender to reduce the Loan shall be paid within
ninety (90) days of issuance of the Form 8609 and the final executed Loan Reduction Certificate
shall be delivered on the same day.
4.8.3. Notwithstanding the foregoing, any loan reduction under this section that
is made after Loan Closing but prior to full disbursement of the Loan proceeds shall be subject to
the consent and approval of the Senior Lender, Equity Investor, and other financing parties, as
applicable.
4.9. Insufficiency of Loan Proceeds. If at any time during the term of this Agreement,
Lender determines that the remaining undisbursed Loan proceeds are insufficient for any reason
to complete the Project substantially in accordance with the Plans and Specifications, Borrower
shall, within ten ( 10) days after receipt of Notice thereof (including a statement of the basis for
such insufficiency) from Lender, deposit with Lender or its designee such sums of money in cash
(from sources other than the Loan) as reasonably are required to eliminate the insufficiency. Any
amount so deposited by Borrower shall stand as additional security for Borrower’s obligations
under this Agreement, and may be disbursed at Lender’s option before any further Loan
disbursements are made hereunder.
4.10. Authorized Disbursements . Notwithstanding any other term of this Section 4,
Borrower hereby irrevocably authorizes Lender, at Lender’s option to make disbursements of Loan
proceeds (i ) jointly to Borrower, Borrower’s construction manager and to any contractor or
materialmen furnishing labor, services or materials in the construction of the Project for any
amounts due them in connection therewith, or (ii) directly to Lender for interest, fees and any other
amounts required to be paid to Lender under the Note or the other Loan Documents. No further
authorization from Borrower shall be necessary for Lender to make such direct disbursements, and
all such disbursements shall satisfy pro tanto Lender’s obligation hereunder and shall be secured
by the Deed of Trust.

Loan Agreement (Revised Jan. 2023) 17
4.11. Disbursements Not a Waiver. No disbursement of any Loan proceeds by Lender
shall constitute a waiver of any of the conditions for disbursement contained in this Agreement, or
an obligation of Lender to make further disbursements. If Borrower is unable to satisfy any such
condition, no such disbursement shall have the effect of precluding Lender from thereafter
declaring that inability to be an Event of Default.
4.12. Stored Materials . No disbursements will be made for materials that are not
physically incorporated into the Project, other than for materials actually delivered to the Project
site or off -site, and stored in a place, secured and insured against theft, vandalism and other
damage, all in a manner satisfactory to Lender.
4.13. No Escrow. Any and all Loan proceeds disbursed to Borrower in accordance with
this Agreement mus t be placed in a non- interest bearing account and must be expended in
accordance with Section 4. In no event shall Borrower escrow the Loan proceeds.
Section 5. Representations and Warranties. Borrower represents and warrants to Lender as
of the date hereof, and shall be deemed to represent and warrant as of the date it submits any
disbursement request to Lender hereunder, that:
5.1. Status. Borrower is a Person in good standing under the law s of the District of
Columbia. All representations and warranties made by Borrower in the other Loan Documents are
true, complete and correct when made.
5.2. Authority. Borrower has the power and authority to enter into and execute and
deliver this Agreement and each other Loan Document executed and delivered by it, and to incur
and perform the obligations provided for herein and therein (including borrowing and guaranteeing
the Loan, as applicable), all of which have been duly authorized by all proper and necessary action
and all material governmental licenses, authorizations, consents and approvals required. No
consent or approval of any other Person or Authority is required as a condition to the validity or
enforceability of this Agreement or any of such other Loan Documents, or if required it has been
obtained.
5.3. No Conflicting Agreements. There is (a) no provision of any existing mortgage,
pledge, lien, security interest, charge, encumbrance, contract or agreement binding on Borrower
or affecting its property nor any judgment, decree, or order of court binding on Borrower, and
(b) to the best knowledge of Borrower, no law, statute, rule or regulation binding on Borrower or
affecting any of its property, which would conflict with or in any way prevent the execution,
delivery or performance of the terms of this Agreement or of any other Loan Document executed
and delivered by Borrower, or which would be in default or violated as a result of that execution,
delivery or performance.
5.4. Litigation. T here is no litigation, proceeding or investigation, pending or
threatened in writing , which may result in any material and adverse change in the financial
condition, assets, liabilities, business or prospects of Borrower, and Borrower does not know of
any basis for any such litigation, proceeding or investigation.
5.5. Financial Information. All financial information heretofore furnished to Lender
concerning Borrower is complete and correct in all material respects, and fairly presents

Loan Agreement (Revised Jan. 2023) 18
Borrower’s financial position as of the date thereof. There are no liabilities, direct or indirect, fixed
or contingent, of which Borrower is aware except as reflected therein. There has been no material
adverse change in Borrower’s financial condition or operations since the dates of those financial
information (and to Borrower’s knowledge, no such material adverse change is pending or
threatened), and Borrower has not guaranteed the obligations of, or made any investment in or
advances to, any Person exce pt as disclosed in such information. Borrower has good and
marketable title to all of its properties and assets, free and clear of encumbrances (other than as
permitted by Lender), except as reflected in that information.
5.6. Receivership. There are no actions or proceedings pending or threatened against
Borrower, to the best of Borrower's actual knowledge, to liquidate or reorganize it or place it into
receivership.
5.7. Tax Returns. Borrower has filed or caused to be filed all (if any) required Federal,
state and local tax returns, and paid all taxes shown on the returns as such taxes have become due.
No claims have been assessed and are unpaid with respect to such taxes, except as shown in the
financial information referred to above.
5.8. Liens on Property. There exists no mortgage, pledge, lien, security interest, charge
or other encumbrances (except as permitted by Lender) on or with respect to the Property.
5.9. Utilities. All utility services necessary for the construction and operation of the
Project for its intended purposes are or will be available at the boundaries of the Property, including
water supply of sufficient quantity and pressure, storm and sanitary sewer facilities of adequate
capacities, gas, electric and telephone facilities. Borrower has procured, or hereby agree to use its
best efforts to procure, from the District of Columbia, and other authorities and corporations,
connection and discharge arrangements for the supply of water, gas, electricity and other utilities
and sewage and industrial waste disposal for the operation of the Project.
5.10. Roads. All roads necessary for the full use of the Project for its intended purposes
have either been completed or the necessary rights of way therefor have either been acquired by
Borrower or the appropriate Authority or have been dedicated to public use and accepted by such
Authority or will be so acquired or dedicated within a period of time satisfactory to Lender, and
all necessary steps have been taken by Borrower and such Authority to assure the complete
construction and installation thereof in accordance with law and all applicable governmental
requirements.
5.11. Zoning and Land Use. The Project, and the use of the Project for its intended use,
will not violate any zoning or other ordinance, regulation or law, restrictive covenant or agreement
of Borrower (either now in existence or known by Borrower to be proposed) applicable to the
Property, the Project or its use, and all requirements for such use have been satisfied. Borrower
shall not initiate, join in, or consent to any change in any restrictive covenant, easement, zoning
ordinance or other public or private restriction limiting or defining the uses which may be made
of the Property, the Project or any part thereof.
5.12. Cost Breakdown. The cost breakdown (in trade breakdown form) for the Project
supplied to Lender is complete and accurate as of the date hereof, based on all information now

Loan Agreement (Revised Jan. 2023) 19
available to Borrower, and Borrower has no knowledge of any material change in the amount
shown thereon which is likely to occur.
5.13. OFAC List. Borrower, and to the best of Borrower’s knowledge after having made
diligent inquiry, and all persons or entities owning an interest in Borrower (i ) are not currently
identified on the United States Office of Foreign Assets Control (“ OFAC”) List, and (ii) are not
persons or entities with whom a citizen of the United States is prohibited to engage in transactions
by any trade embargo, economic sanction, or other prohibition of United States law, regulation, or
Executive Order of the President of the United States. The OFAC List currently is accessible
through the internet website http://www.treas.gov/offices/eotffe/ofac/sdn/t11sdn.pdf.
Section 6. Covenants. Borrower covenants and agrees that, as long as any part of the Loan
remains unpaid, Borrower will:
6.1. Construction of Project. Cause the Project to be completed substantially in
accordance with the final Plans and Specifications on or before the Completion Date, free and clear
of all liens other than the Deed of Trust and the Permitted Encumbrances (as such term is defined
in the Deed of Trust) . Borrower shall not permit any material changes in the Plans and
Specifications without the prior written consent of Lender and all authorities to whom such Plans
and Specifications are required to be submitted.
6.2. Insurance. At all times during the term of this Agreement, Borrower will maintain
at its sole cost and expense, for the mutual benefit of Borrower and Lender, all of the insurance
specified in Exhibit H, and will not permit any condition to exist on the Property that would
invalidate any part of any insurance coverage required under this Agreement.
6.3. Accounting/Audit Requirements . Maintain complete and accurate records and
documentation of all costs incurred under the Loan in accordance with the instructions of Lender
and organized in a manner that identifies cost categories in the itemized budget.
6.4. Inspection. Permit Lender, its agents and Lender’s inspect or to enter on the
Property at all reasonable times and as often as may be reasonably requested, to inspect the Project
and all materials to be used in connection with the construction thereof, and to examine all detailed
plans and drawings which are or may be kept at the construction site and access to the books,
records and such other documents of Borrower as Lender shall reasonably require to inspect, audit
and examine the same and to make extracts therefro m and to make copies thereof . Furthermore,
throughout the Loan Term, Borrower must be prepared for and facilitate monitoring by Lender in
compliance with Federal and District requirements, including, but not limited to, the following:
creating, storing and maintaining all Project records in accordance with Lender’s requirements;
permitting desk monitoring, site visits, and audits; and permitting all inspections of the Project
records as Lender deems necessary to ensure the upkeep and operation of the Project in compliance
with District and Federal laws.
6.5. Maintenance and Repair. Keep and maintain the Project and each part thereof in
good condition, working order and repair, make all necessary or appropriate repairs, replacements
and renewals thereto so that each part thereof is at all times in good condition, fit and proper for
the respective purposes for which it was originally intended, erected, or installed, and to ensure

Loan Agreement (Revised Jan. 2023) 20
that the security for the Loan is not impaired, and make all necessary or appropriate deposits to a
replacement reserve for the Project.
6.6. Obstructions. Use its reasonable efforts to keep and maintain all parts of the
Project and the sidewalks, curbs and passageways adjoining it in a clean and orderly condition,
free of dirt, rubbish, snow, ice and unlawful obstructions.
6.7. Permits, Licenses. Procure or cause to be procured, any and all necessary permits,
certificates, licenses or other authorizations required for use of the Project as rental housing, and
comply with all conditions and requirements necessary to preserve and extend all rights, licenses,
permits, privileges, franchises and concessions now or hereafter applicable to the Project.
6.8. Structural Injury, Nuisance, Waste and Other Prohibited Uses . Not use or
occupy the Project or permit it to be used or occupied in any manner which would cause structural
injury to the Project, cause the value or the usefulness of the Project or any part thereof to diminish
(ordinary wear and tear excepted), or constitute a public or private nuisance, or waste.
6.9. Compliance with Laws. Not use or occupy the Project or knowingly permit it to
be used or occupied contrary to any uniformly applicable laws affecting the Project and the
occupancy, operation or use thereof, whether or not any such laws which may be hereafter enacted
involve a change of policy by the Authority enacting them.
6.10. Reporting.
6.10.1. Audited Financial Statements. Within one-hundred twenty (120) days
after the end of each Fiscal Year, the audited balance sheet of Borrower for such year, and the
related audited statements of income, retained earnings and cash flows for such year, each setting
forth in comparative form the figures for the previous Fiscal Year, in reasonable detail and all
prepared in accordance with generally accepted accounting principles , consistently applied,
applicable O ffice of Management and Budget guidelines, and any other applicable F ederal or
District audit requirements , without qualification, by an independent certified public accountant
acceptable to Lender.
6.10.2. Supplemental Annual Submission. Together with the audited financial
statement, Borrower shall submit the following information for the Project:
(1) Evidence of commercial property insurance with Lender listed as an
additional insured;
(2) Evidence of liability property insurance with Lender listed as an additional
insured;
(3) Copy of reserve account statements, if applicable;
(4) Evidence of payment of real estate property taxes;
(5) Copy of current business license;

Loan Agreement (Revised Jan. 2023) 21
(6) Project operating statements;
(7) Annual Owner Certification; and
(8) Net Cash Flow Calculation Worksheet.
6.10.3. Tax Returns. Within thirty (30) days of the applicable required annual
filing date, including any standard extensions for which Borrower may have validly filed and
copies of which are provided to Lender, complete copies of all Federal and state tax or information
returns of Borrower (including form K -1s and all schedules), certified as true and correct by the
principal financial or accounting officer of Borrower.
6.10.4. Internal Financial Statements . Upon thirty (30) days’ prior written
request from Lender, Borrower’s internal consolidated financial statements for the preceding
financial quarter prepared by Borrower and certified by Borrower’s principal financial or
accounting officer, including a statement of activities, a statement of financial position, a statement
of cash flow, a break -down of gross lease revenues, and during construction, a reconciliation of
expenditures paid with Loan proceeds.
6.10.5. Affordable Housing. Upon thirty (30) days’ prior written request from
Lender, (i) any information about the leasing and occupancy of the Affordable Units, including a
rent roll for the Project, summarizing the terms of all residential leases and the Household incomes
of the tenants, as of the end of December of the prior year no later than March 1 of each year, or
more frequently as reasonably determined by Lender; and (ii ) any other information that may be
required to meet District and/or Federal reporting requirements, including but not limited to,
information on household size, age, income, sex, and race or ethnicity of all occupants who reside
in Affordable Units.
6.10.6. Additional Financial Information. Upon thirty (30) days’ prior written
request from Lender, any additional information necessary to evaluate the financial position of the
Project, as reasonably determined by Lender.
6.10.7. Ongoing Project Updates . Upon five (5) days’ prior written request
from Lender, provide Lender with regular Project updates.
6.11. Records and Retention . Keep and maintain at all times complete and accurate
books of account and records (including copies of supporting bills and invoices) adequate to reflect
correctly the operation of the Project or the Property and the use of the Loan proceeds and copies
of all written contracts, leases, and other instruments which affect the Project or the Property. Keep
records for a period of five (5) years from the date that such records are generated. If any litigation,
claim or audit has begun before the expiration of the 5-year retention period, the records shall be
retained no less than five (5) years after all litigation, claims, audits or monitoring findings
involving the records have been resolved and final action taken.
6.12. Payment of Obligations. Pay and discharge at or before maturity all its material
obligations and liabilities, including tax liabilities, the expenses of the Project, and claims for labor,
materials, and supplies that, if unpaid, might become liens on the property of Borrower, except
those being contested in good faith by appropriate proceedings.

Loan Agreement (Revised Jan. 2023) 22
6.13. Notices. Promptly give Notice to Lender of (i) all litigation affecting Borrower, the
Property, or any portion of the Project, and (ii) all complaints and charges made by any Authority
having jurisdiction over the Project which may materially delay or require material changes in the
construction of the Project or otherwise impair the security of Lender.
6.14. Further Assurances. On request by Lender, do any act or execute any additional
documents (including security agreements and financing statements on any personalty owned by
Borrower and included or to be included in the Project) reasonably required by Lender to confirm
the lien and security interest of the Deed of Trust, or any other collateral document.
6.15. Fees of Lender’s Agents. Pay Attorneys’ Fees and Costs and the reasonable fees
of Lender’s agents, if any, in connection with the Project or the Loan.
6.16. Performance of Other Agreements . Jointly and severally, duly and timely
perform and observe all covenants, agreements and conditions on its part to be performed or
observed in all material respects.
6.17. Acknowledgement of Lender Financing.
(a) Allow Lender to, or as reasonably approved by Lender, place suitable signage
indicating that the Project is being developed with financial assistance provided by Lender in such
manner as Lender may elect. Any such sign shall be provided at the expense of Lender; provided,
however, that if Lender provides a sign to Borrower, then Borrower agrees to provide a prominent
and suitable location of the display of the sign and to maintain the display of such sign for the
duration of development or until the Loan ha s been fully satisfied, whichever event shall occur
first.
(b) Ensure that all written or printed materials distributed or posted by Borrower, which
publicize the Project, shall include information that the Project is being funded, partially or fully,
through Lender. Further, announcement of all events that publicize the Project shall acknowledge
funding by Lender. This may include, but is not limited to, social media, newspaper
announcements or advertisements, flyers, postings, any radio and television announcements.
6.18. Property Management. At all times during the term of this Agreement, Borrower
shall enter into a management contract with a District licensed professional management company
for the Project , cancelab le on sixty ( 60) days’ notice, and otherwise in form and substance
satisfactory to Lender in its reasonable judgment. Borrower shall notify Lender at least sixty (60)
days in advance of any change in management and shall provide Lender with a copy of the
proposed management agreement for Lender’s review and approval prior to Borrower’s execution
thereof. Such approval shall not be unreasonably withheld, conditioned or delayed. The proposed
successor manager shall be a management company, in good standing with the District of
Columbia, and experienced in managing properties of a similar type and size as the Project. The
proposed successor manager shall deliver all organizational documents and other documents, upon
the request of Lender, regarding the manager’s suitability to manage the Project. Any successor
management contract entered into by Borrower shall be approved by Lender, such approval shall
not be unreasonably withheld, conditioned or delayed and shall provide that it shall be subject to
termination, without penalty, upon written request by Lender, addressed to Borrower if the

Loan Agreement (Revised Jan. 2023) 23
property manager fails, after being provided funds therefore from Borrower, to take action to cure
any material default under the property management contract within sixty (60) days’ notice thereof
by Lender with a copy to Borrower. In the event of an emergency situation, the sixty (60) day
notice period shall be shortened, at Lender’s reasonable discretion. Upon receipt of a request to
terminate the manager, Borrower shall terminate the management contract no later than sixty (60)
days from the date of the notice, provided that (i ) Lender has approved of a new manager and
management contract, (ii) the change will not result in the Project being without a manager for any
period of time, and (iii) Borrower has received the prior written consent of the Senior Lender.
6.19. Affordability Covenants.
(a) Comply in all respects with the Affordable Housing Covenant and rent and
maintain the Affordable Units in accordance with the Affordable Housing Covenant.
(b) Maintain accurate records of the tenant household incomes and rent levels each
time that an Affordable Unit is rented, and rent rolls updated on a monthly basis, and available for
inspection by Lender within ten (10) days of Lender’s request therefore.
(c) Register any available Affordable Unit with the Housing Locator website
established pursuant to the Affordable Housing Clearinghouse Directory Act of 2008, D.C. Law
17-215, D.C. Official Code § 42- 2131 et seq. and shall actively seek to market vacant units to
households referred by the District of Columbia Housing Authority as required in the Program
Requirements. As of the date of this Agreement, the Housing Locator website is
www.DCHousingSearch.org.
6.20. Hazardous Materials Indemnity.
(a) Comply with all governmental requirements applicable to Hazardous Materials
(including lead paint) and other environmental, health, fire and safety laws or regulations,
including, but not limited to , the Occupational Health and Safety Act and Americans With
Disabilities Act;
(b) Notify Lender of any notice received by Borrower of any leak, spill or other release
of Hazardous Materials or of any violation of any environmental, health, fire or safety laws or
regulations with respect to the Project or the Property in which event Lender shall be allowed a
right of entry (including the right to conduct tests and take samples from the Project or the
Property) and may, but shall not be required to, remediate the problem if Borrower does not
promptly initiate and diligently pursue such remediation;
(c) If unlawful Hazardous Materials are determined to be located at the Project or on
the Property or another environmental, health, fire or safety law or regulation has been violated
and such violation has been caused by Borrower or its agents, provide Lender with a bond or letter
of credit, or similar financial assurance, satisfactory to Lender, in an amount sufficient to cover
the cost of any clean up or of remediation of the violation, as the case may be; and
(d) Indemnify and forever hold Lender harmless from any loss, claim, damage or
liability arising out of, or in connection with, the unlawful presence at the Project or on the Property
of, or contamination by, any Hazardous Materials or the violation of environmental, health, fire or

Loan Agreement (Revised Jan. 2023) 24
safety laws or regulations if such loss, claim, damage or liability was caused by Borrower or its
agents and has occurred since Borrower took title to the Property; provided, however, Borrower
shall have no liability to the extent any loss arises as a result of the gross negligence or willful
misconduct of Lender. This indemnification shall survive repayment of the Loan.
(e) Further, Borrower shall pay Lender, upon demand, for all costs reasonably incurred
by Lender in connection with inspecting the Project or the Property with respect to Hazardous
Materials, which Lender may do at any time and from time to time, and/or in connection with
reviewing any Hazardous Material, environmental, health, fire or related safety reports, including
Attorneys’ Fees and Costs, engineering fees and other fees and expenses if such costs are incurred
as a result of actions caused by Borrower or its agents after the date Borrower takes title to the
Property.
Section 7. Default; Remedies.
7.1. Defaults. An “Event of Default” shall be deemed to have occurred under this
Agreement on the occurrence of any one or more of the following events:
7.1.1. Any representation or warranty made herein or any statement or
representation made in any certificate, report or opinion (including legal opinions), financial
statement or other instrument furnished in connection with this Agreement (including requests),
any application materials for the Loan, or any of the other Loan Documents, proves to have been
incorrect in any material respect when made; or
7.1.2. Borrower fails to pay, within ten ( 10) days after the date on which it is
due and payable (a) the principal of, premium, if any, or interest or any other charges or sums on
or under the Note (whether on maturity, on any installment date, after acceleration, after notice of
prepayment, or otherwise), or (b) any other payment required by this Agreement or any of the
other Loan Documents to be paid by Borrower, including, but not limited to, any payments due to
Lender in accordance with the Final Loan Reduction Calculation; or
7.1.3. Borrower fails to duly and promptly perform, comply with or observe
any of the terms, covenants, conditions or agreements contained herein or in the Program
Requirements, other than pertaining to insurance requirements herein for which there shall be no
such cure period, which default remains unremedied for thirty (30) days (or such other cure period
as may be specified herein) after Notice to the non -performing entity thereof, except that if the
default is such that it cannot be corrected within thirty (30) days (or any other cure period specified
herein), it shall not be an Event of Default if, in the opinion of Lender reasonably exercised, the
non-performing entity is taking appropriate corrective action to cure the default and the default
will not, in Lender’s sole judgment, impair the security for the Loan; or
7.1.4. An Act of Bankruptcy occurs with respect to Borrower or any other
guarantor of the Loan; or Borrower becomes generally unable to pay its debts as they become due;
or
7.1.5. An Event of Default occurs under any other Loan Document ; or

Loan Agreement (Revised Jan. 2023) 25
7.1.6. Any mechanic’s lien is established against the Project and not discharged
or bonded against by Borrower within thirty (30) days after it receives notice of the establishment
thereof; or
7.1.7. Borrower fails to comply with any requirement of any Authority having
jurisdiction within thirty ( 30) days after the Authority gives it written notice of the requirement;
or if any proceeding is begun or action taken to enforce any remedy for a violation of any
requirement of the Authority or any restrictive covenant affecting the Property.
7.2. Remedies of Lender on Event of Default. Whenever any Event of Default referred
to in subsection 7.1 has occurred, Lender may refuse to disburse any amounts hereunder, accelerate
the payments due on the Note and declare all other of Borrower’s obligations to be immediately
due and payable, bring suit on the Note, and take such other actions against Borrower as Lender
may deem to be appropriate, as permitted by law. In addition, Lender, in its sole discretion, may
take any one or more of the following remedial steps:
7.2.1. Acceleration. Declare the unpaid principal of the Note and all interest
accrued thereon, together with all other moneys payable hereunder, to be immediately due and
payable, by notice in writing to that effect delivered to Borrower, and on such declaration, all such
moneys shall become immediately due and payable, without protest, presentment, further notice
or demand, all of which are expressly waived by Borrower, at the place of payment provided in
such notice, anything in this Agreement or in the Note to the contrary notwithstanding.
7.2.2. Legal Action. By mandamus or other suit, action or proceeding at law
or in equity, enforce all rights of Lender, and require Borrower to carry out any agreement with or
for the benefit of Lender, and to perform its duties under this Agreement, the Deed of Trust, and
the other Loan Documents; and/or
(1) Bring suit on the Note; and/or
(2) By action or suit in equity enjoin any acts or things which may be unlawful
or in violation of the rights of Lender; and/or
(3) Take whatever action at law or in equity appears necessary or desirable to
collect the payments and other amounts then due and thereafter to become
due or to enforce performance and observance of any obligation, agreement
or covenant of Borrower or any other Person under this Agreement or any
other Loan Document.
7.2.3. Books and Records . Have access to and inspect, examine and make
copies of the books and records and any and all accounts and similar data of Borrower.
7.2.4. Protection of Property . Without resort to judicial process, take such
steps as it deems appropriate to protect the Project or the Property from depredation or injury,
including employment of watchmen or other protective services, and Borrower shall pay any
expenses incurred by Lender in taking such steps.

Loan Agreement (Revised Jan. 2023) 26
7.2.5. Completion of Project. Lender shall have no obligation to disburse any
portion of the undisbursed proceeds of the Loan to Borrower. Lender may enter the Project or the
Property for the purpose of causing Borrower’s obligations hereunder to be fulfilled, and for such
purposes Borrower hereby appoint s Lender as its lawful attorney -in-fact, with full power of
delegation and substitution, to act for such purpose in its name, to take any or all of the following
actions:
(1) Continue the Project; and/or
(2) Avail itself and procure performance of all contracts theretofore made by
Borrower; and/or
(3) Modify such contracts, or to enter into new contracts with the same or other
contractors, architects, suppliers or agents; and/or
(4) Pay, settle or compromise any bills, claims or liens incurred in connection
with the completion of the Project; and/or
(5) Prosecute or defend any action or proceeding in connection therewith, to
execute such applications and certificates as may be required by
governmental authority or any agreement by Borrower; and/or
(6) Perform any other act and execute and deliver all documents and
instruments as may be appropriate for such purposes; and/or
(7) Use any funds not yet disbursed hereunder or otherwise allocated or made
available therefor to pay the cost thereof, it being specifically agreed that
this power of attorney is a power coupled with an interest which cannot be
revoked.
Any disbursement of funds for such purposes shall be deemed disbursements pursuant to this
Agreement and evidenced by the Note. In addition, if it is necessary for Lender to disburse any
amounts in order to accomplish such purposes, Borrower shall reimburse Lender for the amount
of such excess, with interest thereon as provided in Section 13, and authorize Lender to apply
funds received from the sale or rental of any portions of the Project to the repayment of such excess
before the same are applied for any other purpose. Any action taken by Lender hereunder may, in
the sole discretion of Lender, be thereafter terminated or changed, and this Agreement or any
action taken hereunder shall in no way be construed as imposing any obligation on Lender to act
or continue to act on the behalf of Borrower or otherwise to complete the Project or fulfill any
obligation of Borrower in connection with the Project.
7.2.6. Possession of Project . Take possession of the Project and have, hold,
manage, lease and operate it on such terms and for such period of time as Lender deems proper;
and collect and receive all rents, income and profits of the Project, with or without taking
possession of the Project, with full power to make from time to time all alterations, renovations,
repairs or replacements thereto as seem proper to Lender, and to apply such rents, income and
profits to the payment of:

Loan Agreement (Revised Jan. 2023) 27
(1) The cost of such alterations, renovations, repairs and replacements and
expenses incident to the taking and retaining possession of the Project and
the management and operation thereof and keeping the same properly
insured, and
(2) All taxes and any other encumbrances which may be prior in lien or
payment to the obligations of Borrower hereunder, and
(3) The obligations of Borrower hereunder, together with all costs and
Attorneys’ Fees and Costs, in such order of priority as to any of such items
as Lender in its sole discretion may determine, any law, custom or use to
the contrary notwithstanding.
7.2.7. Repossession of Collateral . Proceed under the District of Columbia
Uniform Commercial Code as to all or any part of the collateral, and in conjunction therewith
exercise all rights, remedies and powers of a secured party under the District of Columbia Uniform
Commercial Code as then in effect in the District of Columbia ( “UCC”), including taking
possession of the collateral pursuant to Section 9-503 of the UCC without resort to judicial process.
If an Event of Default occurs, Borrower shall assemble all of the collateral, and make it available
at the Property. Any notice required by Section 9-504 of the UCC shall be deemed reasonably and
properly given if given in the manner specified for other Notices under this Agreement, at least
fifteen (15) days before any sale or other disposition of the collateral. Disposition of the collateral
shall be deemed commercially reasonable if made pursuant to a public offering advertised at least
twice in a newspaper of general circulation in the community where the collateral is located.
7.2.8. Foreclosure. Declare a default under the Loan Documents and exercise
its rights of foreclosure and other remedies available under the Deed of Trust.
7.3. No Remedy Exclusive; Delays or Omissions; Waiver of Breach. No action taken
pursuant to this Section 7 shall relieve Borrower from its obligations hereunder or under any other
Loan Document, all of which shall survive any such action, and Lender (to the extent provided
above) may take whatever action at law or in equity appears necessary and desirable to collect the
payments and other amounts then due, and thereafter to become due and/or to enforce the
performance and observance of any obligation, agreement or covenant of Borrower hereunder or
of any other Person under any Loan Document.
No remedy herein conferred on or reserved to Lender is intended to be exclusive of
any other available remedy or remedies, but each such remedy shall be cumulative and shall be in
addition to each other remedy given under this Agreement or the other Loan Documents or now
or hereafter existing at law or in equity. If any right or remedy granted herein is held to be unlawful,
Lender shall be entitled to each other right and remedy provided in this Agreement and by law or
in equity. No delay or omission in exercising any right or power accruing on any default, omission
or failure of performance hereunder or under the Loan Documents shall impair any such right or
power or be construed to be a waiver thereof, but any such right and power may be exercised from
time to time and as often as is deemed expedient. If any term of this Agreement is breached by
Borrower and is thereafter waived by Lender, that waiver shall be limited to the particular breach
so waived, and shall not be deemed to waive any other breach. No waiver, amendment, release or

Loan Agreement (Revised Jan. 2023) 28
modification of this Agreement shall be established by conduct, custom or course of dealing, but
solely by a document signed by Lender. In order to entitle Lender to exercise any remedy reserved
to it in this Section, it shall not be necessary to give any notice, other than any notice be herein
expressly required.
Section 8. Additional Local and Federal Requirements Applicable to Borrower. In
addition to the Program Requirements, Borrower shall f ully comply with the following F ederal
and District requirements as they may be applicable to Borrower , the Project or the Property ,
including implementation of such requirements through handbooks, guides and notices , and all
future updates, changes and amendments thereto applicable to Borrower , the Project or the
Property, as they become effective:
(a) Compliance with Equal Opportunity Obligations in Contracts (Affirmative Action
Plan) – Mayor’s Order 1985-85;
(b) Certified Business Enterprise Requirements – D.C. Official Code § 2- 218.46 et
seq.;
(c) D.C. Human Rights Act of 1977 – D.C. Official Code § 2-1401.1 et seq.;
(d) Fair Criminal Record Screening for Housing Act of 2016 – D.C. Official Code
§ 42-3541.01 et seq.;
(e) First Source Program – D.C. Official Code § 2-219.01 et seq.;
(f) Freedom of Information Act – D.C. Official Code § 2-531 et seq.;
(g) Inclusionary Zoning Implementation Act of 2006 – D.C. Official Code § 6-1041.01
et seq.;
(h) Relocation Assistance – 10B DCMR Chapter 22;
(i) Rental Housing Act of 1985 – D.C. Official Code § 42-3501.01 et seq.;
(j) Rental Housing Conversion and Sale Act of 1980 – D.C. Official Code § 42-
3401.01 et seq.;
(k) Sections 9a and 9b of Historic Landmark and Historic District Protection Act of
1978, as amended – D.C. Official Code § 6-1101 et seq.;
(l) Age Discrimination Act of 1975 – 42 U.S.C. § 6101 et seq. , including, but not
limited to, implementing regulations at 24 CFR Part 146;
(m) Americans with Disabilities Act of 1990 – 42 U.S.C. § 12101 et seq.;
(n) Broadband Infrastructure in HUD -Funded New Construction & Substantial
Rehabilitation – 24 CFR § 891.
(o) Civil Rights Act of 1964 - 42 U.S.C. § 2000d et seq.;

Loan Agreement (Revised Jan. 2023) 29
(p) Conflict of Interest – 24 CFR § 570.611;
(q) Davis-Bacon and Related Acts – 40 U.S.C. § 3141 et seq. and 42 U.S.C. § 5310:
40 U.S.C. § 3701 et seq.; 29 CFR Parts 1, 3, and 5;
(i) The Federal statutory and regulatory requirements of the Davis -Bacon Act
(40 U.S.C. § 3141 et seq.) and the Contract Work Hours and Safety Standards Act (40
U.S.C. § 3701 et seq.) shall survive the term of the Loan. The Davis-Bacon Act requires
the payment of prevailing wage rates to all laborers and mechanics on Federal government
and District of Columbia construction contracts in excess of $2,000. The Davis-Bacon Act
labor standards also apply to the “ Related Acts,” under which construction projects are
assisted through F ederal funded grants, loans, loan guarantees, and insurance. Each
contract subject to Davis-Bacon labor standards requirements must contain in full the labor
standards clauses set forth in 29 CFR § 5.5(a) relating to minimum wages, apprentices and
trainees, withholding, payrolls and basic records, and liabilities and penalties for violations.
The mandatory Davis -Bacon contract provisions , the Federal Labor Standards Contract
Addendum (HUD Form 4010), are attached hereto as Exhibit D and incorporated herein.
The wage determination applicable to this Project is attached hereto as Exhibit E and
incorporated herein. The mandatory Davis -Bacon labor provisions set forth in Exhibit D
and the wage decision set forth in Exhibit E must be incorporated in the Construction
Contract and each subcontract at any tier.
(a) Each weekly payroll statement required under 29 CFR § 3.3 shall be
delivered by the contractor or subcontractor, within seven (7) days after the regular
payment date of the payroll period, to the Office of Program Monitoring at District
of Columbia Department of Housing and Community Development, 1909 Martin
Luther King, Jr., Ave., SE, Washington, DC 20020. (29 CFR § 3.4).
(b) Each payroll submitted shall be accompanied by a “ Statement of
Compliance,” signed by the contractor or s ubcontractor or his or her agent who
pays or supervises the payment of the persons employe d under the contract. (29
CFR § 5.5(a)(3)(ii)(B)). Upon the request of Lender, Borrower shall provide or
shall cause its c ontractor or subcontractor to provide for Lender’s review, any
contract or subcontract upon which a certified payroll is based;
(r) Equal Credit Opportunity Act - 15 U.S.C. § 1691 et seq.;
(s) Lead Safe Housing Rule (Lead Based Paint) – 24 CFR Part 35;
(t) Governmentwide Requirements for Drug- Free Workplace – 41 U.S.C. § 701 et
seq., including, but not limited to, Federal rules and regulations at 24 CFR Part 2429;
(u) Fair Housing Act of 1968 – 42 U.S.C. § 3601 et seq., including, but not limited to,
implementing regulations at 24 CFR Part 100;
(v) Hatch Act – 5 U.S.C. Chapter 15;

Loan Agreement (Revised Jan. 2023) 30
(w) National Environmental Policy Act of 1969 – 42 U.S.C. § 4331 et seq., including,
but not limited to, implementing regulations at 24 CFR Part 50 or 58, as applicable;
(x) Nonprocurement, Debarment and Suspension – 2 CFR Part 2424;
(y) Restrictions on Lobbying – 24 CFR Part 87;
(z) Section 3 of the Housing and Urban Development Act of 1968 - 12 U.S.C. § 1701u
et seq., including, but not limited to, implementing regulations at 24 CFR Part 75. In accordance
with Lender’s policy for HPTF loans, during construction of the Project , Borrower shall comply
with and cause its successors, assigns, and agents to comply with 24 CFR Part 75. The Section 3
requirement applies to assistance that exceeds $200,000.00 or where the contract or subcontract
exceeds $1,000,000.00. Borrower shall or shall c ause its contractors to include the Section 3
Contract Addendum attached hereto as Exhibit F and incorporated herein in any contracts or
subcontracts subject the Section 3 requirements ;
(aa) Section 106 of the National Historic Preservation Act of 1966 – 16 U.S.C. § 470 et
seq., including, but not limited to, implementing regulations at 36 CFR Part 800;
(bb) Section 504 of Rehabilitation Act of 1973 – 29 U.S.C. § 794 et seq., including, but
not limited to, implementing regulations at 24 CFR Part 8;
(cc) Uniform Administrative Requirements, Cost Principles, and Audit R equirements
for Federal Awards – 2 CFR Part 200;
(dd) Uniform Relocation Act – 42 U.S.C. Chapter 61; and
(ee) Violence Against Women Act (“VAWA”) - 42 U.S.C. § § 13701–14040. Title VI
of the Violence Against Women Reauthorization Act of 2013, Safe Homes for Victims of
Domestic Violence, Dating Violence, Sexual Assault, and Stalking, expanded the applicability of
the Act to the Low Income Housing Tax Credit program. VAWA protects both child and adult
victims of domestic violence, dating violence, sexual assault, and stalking. All owners and
managers shall comply with the requirements of this Act and shall use the applicable VAWA
forms, including, but not limited to , the HUD -5380 Notice of Occupancy Rights under the
Violence Against Women Act, HUD -5381 Model Emergency Transfer Plan for Victims of
Domestic Violence, Dating Violence, Sexual Assault, or Stalking, HUD -5382 Certification of
Domestic Violence, Dating Violen ce or Stalking, and Alternate Documentation, HUD -5383
Emergency Transfer Request for Certain Victims of Domestic Violence, Dating Violence, Sexual
Assault, or Stalking and HUD-91067 VAWA Lease Addendum.
8.1. Duty to Comply with Lender Compliance Certifications. The Borrower acknowledges
that any misrepresentation of information or failure to comply with any agreement contained in its
certifications to comply with federal and District laws and regulations governing fair housing,
equal opportunity, accessibility and affirmative marketing requirements applicable to the Project
shall be deemed an Event of n Default.
Section 9. Conflict Of Interest/ Limit of Liability

Loan Agreement (Revised Jan. 2023) 31
9.1.1. Federal and District laws strictly prohibit any person who exercises or
has exercised any functions or responsibilities with respect to Lender-assisted activities or who is
in a position to participate in a decision making process or gain inside information with regard to
such activities from obtaining a financial interest or benefit from a Lender -assisted activity, or
have a financial interest in any contract, subcontract, or agreement with respect to a Lender -
assisted activity. Further, as it relates to the procurement of supplies, equipment, construction and
services, recipients and subrecipients of loan funds from Lender are held to the conflict of interest
provisions of the Program Requirements. In addition to the general conflict of interest prohibition,
these sections require that fund recipients maintain written standards of conduct governing the
performance of its employees engaged in the award and administration of contracts to address the
prohibition against any real or apparent conflict of interes t. Borrower shall submit a copy of its
conflict of interest policies and procedures to Lender within fifteen (15) days of the Closing Date.
9.1.2. No member, official, or employee of Lender shall be personally liable to
Borrower or any successor in interest in the event of any breach of this Agreement by Lender or
for any amount which may become due to Borrower or its successors or assigns on any obligations
under the terms of this Agreement.
Section 10. Notice of Non-Discrimination. In accordance with the D.C. Human Rights Act of
1977, as amended, D.C. Official Code § 2-1401.01 et seq., (the “Human Rights Act”), the District
of Columbia does not discriminate on the basis of actual or perceived: race, color, religion, national
origin, sex, age, marital status, personal appearance, sexual orientation, gender identity or
expression, familial status, family responsibilities, matriculation, political affiliation, genetic
information, disability, source of income, status as a victim of an intrafamily offense, place of
residence or business, and status as a victim or family member of a victim of domestic violence, a
sexual offense, or stalking. Sexual harassment is a form of sex discrimination, which is also
prohibited by the Human Rights Act and is prohibited by Mayor’s Order 2023- 131 (Sexual
Harassment Policy, Guidance and Procedures). In addition, harassment based on any of the above
protected categories is also prohibited by the Human Rights Act..
Section 11. Freedom of Information Act.
11.1 The District of Columbia Freedom of Information Act of 1976, Pub. L. 90-614 D.C.
Official Code §§ 2-531-539 (the “FOIA ”) provides for the disclosure of public information.
Specifically, the law provides that “any person has a right to inspect, and at his or her discretion,
to copy any public record except as expr essly exempted by the FOIA. Further, a “ public record”
has been defined by the District of Columbia Public Records Management Act of 1985 as “ any
document, book, photographic image, electronic data recording paper, sound recording, or other
material regardless of form or characteristic, made or received pursuant to law or in connection
with the transaction of public business by any officer or employee of the District.” D.C. Official
Code § 2-1701(13) (2008). Borrower acknowledges that Lender is subject to the FOIA.
11.2 Information or documentation submitted to Lender pursuant to this Loan, or in
connection with the transaction of the business of Lender, is subject to public disclosure in
response to a FOIA request. Therefore, information that Borrower submits to Lender, if not
specifically exempted by D.C. Official Code § 2-534 of the FOIA, may be disclosed to the public
upon a proper request.

Loan Agreement (Revised Jan. 2023) 32
Section 12. Antideficiency Act Limitations . Notwithstanding any other provision of this
Agreement to the contrary, any and all provisions which, may, could or appear to obligate Lender
are and shall remain subject to the limitations of the Antideficiency Act, prescribed under 31
U.S.C. §§ 1341, 1342, 1349 and 1351, as made applicable to the District of Columbia under D.C.
Official Code § 47-105; §§ 47-355.01 – 355.08, as the foregoing statutes may be amended from
time to time (2001 ed.). If such provision(s) shall be in violation of the Antideficiency Act, that
particular provision, as applicable to Lender, shall be void ab initio.
Section 13. Miscellaneous.
13.1. Reimbursement of Disbursements Made or Other Costs Incurred by Lender.
If Borrower fails to make any payment or to perform any other of its obligations hereunder, Lender,
after notice to and demand on Borrower, without waiving any default or releasing Borrower from
any of its obligations hereunder, and without being under any obligation to do so, may make such
payment or perform any of the party’s obligations. All amounts so paid by Lender, and all fees and
other costs incurred by Lender, whether in connection with such payment or such performance or
otherwise in connection with its duties and responsibilities under this Agreement and the other
Loan Documents, shall be immediately due and payable by Borrower on demand therefor, as
additional payments hereunder, with interest thereon as provided in Section 13.2. In addition,
notwithstanding anything in this Agreement to the contrary, if Borrower defaults under any term
of this Agreement, and Lender employs attorneys or incurs other expenses for collection of
amounts due hereunder or enforcement of performance or observance of any obligation or
agreement by Borrower herein, Borrower shall on demand therefor pay to Lender all Attorneys’
Fees and Costs.
13.2. Interest on Additional Payments and Reimbursements . Without limiting any
other terms for the payment of interest, additional interest, late charges, premiums or like charges
under the Loan Documents, in any instance in which any sum other than principal, premium (if
any), and interest is due from Borrower to Lender as a direct payment, reimbursement or otherwise,
and no specific provision is made as to the payment of interest thereon or the rate of interest thereon
is not otherwise specified, the sum shall bear interest from the date on which it becomes due until
paid in full at the Default Interest Rate (as defined in the Note).
13.3. Indemnification of Lender.
13.3.1. Claims in Connection with the Project. Except where it is the result of
Lender’s gross negligence or willful misconduct, (a) Borrower shall protect, indemnify, and save
harmless Lender, its employees , agents and representatives against and from all claims incurred
by, or asserted or imposed against, any of them, and any loss or expense (including all Attorneys’
Fees and Costs) in connection therewith, due to Lender’s participation in the financing of the
Project, any accident, injury (including death) or damage to any Person or property, however
caused, resulting from, connected with or growing out of any act of commission or omission of
Borrower, or any agents, assignees, contractors or subcontractors of Borrower, or any use, nonuse,
possession, occupation, condition, operation, service, design, construction, acquisition,
maintenance or management of, or on, or in connection with, the Project, until this Agreement is
terminated, regardless of whether the claims are against or are sustained by Lender, it employees,
its agents or its representatives; (b) Lender shall not be liable for any damage or injury occurring

Loan Agreement (Revised Jan. 2023) 33
during the Loan term to Persons or property of Borrower or any of its agents or any other Person
who or which is on the Property, and Borrower hereby releases Lender from, and agrees that
Lender shall not be liable for, and Borrower, jointly and severally, shall hold Lender harmless
from, any such liability; and (c) Borrower, jointly and severally, may, and if so requested by
Lender, shall undertake to defend, at its sole expense, all claims brought against Lender or any of
Lender’s employees, agents or representatives in connection with any of the matters mentioned in
this subsection, provided that Lender gives Borrower timely Notice of and forwards to Borrower
every demand, notice, summons or other process received concerning any claim within the
purview hereof.
13.3.2. Approvals of Project . No inspections or approvals of the Project by
Lender during or after construction shall constitute a warranty or representation by Lender or any
of its agents as to the technical sufficiency, adequacy or safety of any structure or any of its
component parts, including any fixtures, equipment or furnishings, and such approvals or
inspections shall not constitute such a warranty or representation as to the subsoil conditions or
any other physical condition or feature pertaining to the Project. All acts, including any failure to
act, relating to the Project by any agent, representative or designee of Lender are performed solely
for the benefit of Lender to assure repayment of the Loan, and are not for the benefit of Borrower
or any other Person.
13.4. Nonassignability. Neither the Loan nor any disbursement thereunder may be
assigned by Borrower without Lender’s prior written consent. Neither the Loan nor any
disbursements thereunder shall be subject to the process of any court on legal action by or against
Borrower or its principals, officers, directors or shareholders or by or against anyone claiming
under or through Borrower or its principals, officers, directors or shareholders. For purposes of
this Agreement, the Loan shall remain in the custody of Lender until Borrower complies with all
provisions hereof, except that nothing herein shall be deemed to modify, affect or subordinate the
obligations heretofore given or to be given by Borrower as security for the Loan, all of which shall
be and remain in full force and effect, this Agreement being intended only as additional security
and protection for the Loan and to assure its use for the purposes intended by Lender.
13.5. Liability of Lender . All conditions of the obligations of Lender hereunder,
including any obligation to make disbursements under the Loan, are imposed solely and
exclusively for the benefit of Lender and its successors and assigns, and no other Person shall have
standing to require satisfaction of such conditions in accordance with its terms or be entitled to
assume that Lender will refuse to disburse sums under the Loan in the absence of strict compliance
with any and all thereof. No other Person shall, under any circumstances, be deemed to be a
beneficiary of such conditions, any and all of which may be freely waived in whole or in part by
Lender at any time if in its discretion it deems it desirable to do so.
13.6. No Partnership, Joint Venture, Agency. Borrower and Lender acknowledge that
the relationship between them created hereby and by the other Loan Documents is that of debtor
and creditor and is not intended to be and shall not in any way be construed to be that of a
partnership, joint venture, or principal and agent.
13.7. Waiver of Jury Trial/ Service of Process/ Court Costs . Borrower and Lender
agree that any lawsuit between Lender and Borrower shall be decided by a judge, without a

Loan Agreement (Revised Jan. 2023) 34
jury. Borrower agrees to pay all court costs and Attorneys’ Fees and Costs incurred by Lender in
connection with successfully enforcing any provision of this Agreement. Borrower hereby
irrevocably designates Registered Agent, as the true and lawful attorney of Borrower for the
purpose of receiving service of all legal notices and process issued by any court in the District of
Columbia as well as service of all pleadings and other documents related to any legal proceeding
or action arising out of this Agreement. Notwithstanding the above, Borrower shall have the right
to change its Registered Agent, in which event Borrower shall give written notice to Lender of any
such change, including a current address.
13.8. No Third Party Beneficiaries. The terms and provisions of this Agreement are for
the benefit of the parties hereto, and no other person shall have any right or cause of action on
account hereof.
13.9. Counterparts. This Agreement may be signed in counterparts, any of which
together with all executed signature pages shall constitute a fully executed and binding agreement.
13.10. Notices. All notices, requests and demands on the respective parties hereto (each ,
a “Notice”) shall be given in writing, and deemed to have been given three (3) business days after
having been sent to Lender or Borrower, as applicable, at its respective address listed below, by
regular and certified US mail, or one (1) business day after having been delivered by courier or
overnight delivery service to the appropriate party at the address listed below and with receipt for
delivery or refusal of delivery. Copies of notices to the entities listed below to receive copies shall
be sent by regular mail or electronic mail. Any party or entity may change its address to receive
notice or copies thereof by sending a written notice of the change to all other parties or entities
listed below.
If to Lender: D.C. Department of Housing and
Community Development
1909 Martin Luther King Jr. Avenue, S.E.
Washington, D.C. 20020
Attn: Director
with copy to: D.C. Department of Housing and
Community Development
1909 Martin Luther King Jr. Avenue, S.E.
Washington, D.C. 20020
Attn: General Counsel
If to Borrower: 950 Eastern Ave TM LLC
2914 12 Street, NE
Washington, DC 20017
Attention: Emmanuel Egoegonwa

with copy to: Klein Hornig LLP
1325 G Street NW, Suite 770
Washington, DC 20005
Attention: Jessica Glynn Worthington

Loan Agreement (Revised Jan. 2023) 35

13.11. Amendment. This Agreement may be amended, and Borrower may take any action
herein prohibited, or omit to perform any act required to be performed by Borrower, only if
Borrower obtains Lender’s prior written consent to such amendment, action or omission to act.
13.12. Survival of Agreements . All agreements, covenants, representations and
warranties of Borrower made in this Agreement shall survive the execution and delivery of this
Agreement and the other Loan Documents, and the making of all disbursements hereunder,
regardless of any investigation made by or on behalf of Lender.
13.13. Entire Agreement; Successors and Assigns; Time of Essence. This Agreement
and the other Loan Documents contain the entire terms of the agreement with respect to the Loan,
and no representations, inducements, promises or agreements between Borrower and Lender not
set forth herein or in the other Loan Documents shal l be of any force or effect. This Agreement
shall be binding on and shall inure to the benefit of Borrower, jointly and severally, and Lender
and their respective successors and Lender’s assigns, whether so expressed or not. Time is of the
essence under this Agreement.
13.14. Severability. If any one or more terms of this Agreement or the other Loan
Documents are deemed to be invalid, illegal or unenforceable in any respect, the validity, legality
and enforceability of the remaining terms herein or therein shall not be affected or impaired
thereby, and shall be enforceable to the maximum extent permitted by law.
13.15. Descriptive Captions; Headings . The captions and headings of the sections,
subsections and paragraphs of this Agreement are for the convenience of reference only, and are
not considered to be a part hereof and shall not limit or otherwise affect any of the terms hereof.
13.16. Construction. As used herein, all references made (i ) in the neuter, masculine or
feminine gender shall be deemed to have been made in all such genders, (ii ) in the singular or
plural number shall be deemed to have been made, respectively, in the plural or singular number
as well, and (iii) to any section, subsection, paragraph or subparagraph shall be deemed, unless
otherwise expressly indicated, to have been made to such s ection, subsection, paragraph or
subparagraph of this Agreement.
13.17. Governing Law. The law of the District of Columbia (ignoring its conflicts of laws
principles) shall govern the interpretation, performance and enforcement of this Agreement. All
citations to legislation herein shall mean for such legislation as of the date hereof, and as may be
amended from time to time in the future.
13.18. Conflict with Program Requirements . In the event of a conflict between this
Agreement and the Program Requirements, the Program Requirements shall control.
[Remainder of page intentionally left blank]

Loan Agreement (Revised Jan. 2023) 36
IN WITNESS WHEREOF, Borrower and Lender have caused this Agreement to be
executed and delivered as of the date first above written.

LENDER:

DISTRICT OF COLUMBIA, a municipal
corporation, acting by and through the
DEPARTMENT OF HOUSING AND
COMMUNITY DEVELOPMENT

By: _________________________
Colleen Green
Director

Approved as to Legal Sufficiency:

By ____________________________
Name: Tonya Condell
Title: Assistant General Counsel

[Signatures continue on following page]
By:
By:
By:
BORROWER:
950 Eastern Ave TM L.L.C.
a District of Columbia limited liability company
950 Eastern Ave TM MM L.L.C.,
a District of Columbia limited liability company
its managing member
UPO 950 Eastern Ave LLC,
a District of Columbia limited liability company,
its managing member
UPO Community Development Corporation,
a District of Columbia non-profit corporation,
its sole member
By:
Name:
Loan Agreement (Revised Jan.2023) JI

A-1
KH 1334879.2
EXHIBIT A
SUMMARY OF LOAN TERMS
[Attached]
1
SUMMARY OF LOAN TERMS AND PROJECT DETAILS
Project Name: 950 Eastern Avenue
Borrower Name: 950 Eastern Ave TM, L.L.C.
Project Address: 950 Eastern Avenue, NE
DHCD Project Manager: Tiphanie Jones
Funding Round: 2021 Consolidated RFP
Last Updated: Loan Review Committee
Funding Description
Gap Funding Amount: Not-to-Exceed $22,337,482 – HPTF
Tax Credit Allocation: 9% LIHTC – N/A
Loan or 9% LIHTC
Increase:
Funding Source(s):
Product Type:
Eligible Purpose and
Uses:
Increase from Application: 9% Increase – N/A
HPTF Increase – $11,727,419
X Housing
Production Trust Fund (HPTF)
__ HOME Investment Partnerships Program (HOME)
__ Community Development Block Grant Program (CDBG)
__ National Housing Trust Fund (NHTF)
__ Department of Behavioral Health (DBH)
__ CDBG-Section 108 Loan Guarantee Program
__ Other [Specify]
X Loan repayable from Net Cash Flow
__ Grant
X Acquisition (including refinancing an acquisition loan)
X Soft Costs, including Predevelopment and Financing Costs
X New Construction - Hard Costs
__
Rehabilitation - Hard Costs
X
Cash Collateralization of Tax-Exempt Bonds__ Critical Repairs (only select
if
acquisition financing only)
__ Other HPTF or federally eligible costs as defined in the Development Project
Budget (For
m 202)
 Funds may be used to reimburse predevelopment and acquisition costs at
DFD’s discretion, regardless of when the costs were incurred.
 Eligible uses must be identified and approved in Form 202.
 The draw schedule will be established prior to the Closing Date.
Loan Term: 42 years from the Closing Date
Interest Rate: 3% simple interest
Accrual starts on the Closing Date on amounts drawn down
Construction/Stabilization
Period:
18 months for construction plus 12 months for stabilization, including lease-up
and conversion
Retainage Amount: $2,233,748 The lesser of ten percent (10%) of the
construction contract or ten percent (10%) of the Loan amount
Repayment Start: Commences on May 1 of calendar year after the projected Placed in-Service date
(or comparable documentation is projected to be received), subject to Net Cash
Flow waterfall in the Deed of Trust Note

2
Repayment Source: The Loan is to be repaid from Net Cash Flow and proceeds resulting from any
Capital Transaction, as set forth in the Loan Documents and Borrower’s
organizational documents.
Recourse: Non-recourse
Collateral Position:
Tax-Exempt/Taxable
Bonds/ State and Federal
LIHTC:
Other Subsidies Awarded
Through RFP:
Other Non-RFP or
Existing Subsidies:
Second priority deed of trust on the Property and Project, including all of
Borrower’s right, title and interest in the land, improvements, rents and leases,
fixtures, personality and all collateral located on or used in connection with the
Project.
X 4% Low Income Housing Tax Credits (LIHTC) – Amount: $2,055,237
X State Low Income Housing Tax Credits (DC LIHTC) – Amount: $513,833
__ None
X Local Rent Supplement Program (LRSP)
__ Annual Contributions Contract (ACC) (Public Housing Operating Subsidy)
__ Department of Human Services (DHS)
X Permanent Supportive Housing (PSH) – Set Aside for formerly homeless
__ Case Management Supportive Services
__ Other: N/A
__ Section 8 Project-Based Subsidy (i.e., PBV or PBRA HAP contract)
__ Rental Assistance Demonstration (RAD) conversion or transfer of assistance
__ Annual Contributions Contract (ACC) (Public Housing Operating Subsidy)
__ Department of Behavioral Health operating subsidy
__ Nonprofit Affordable Housing Developer Tax Relief
__ Other: N/A
District Land: N/A
Project Description/Application Commitments
Project Type: X Production Preservation __ Preservation and Production
New Units – 56
X Rental __ Homeownership __ Limited Equity Cooperative
Total Units in Project: 56 Units
Total Affordable Units in
Project:
56 Units
LIHTC Set-Aside
Election:
X 40% of Units at 60% MFI
__ 20% of units at 50% MFI
__Average Income 60%
__ N/A
Affordability Period
Restriction:
HPTF:
X Perpetual __ 99 years __ 62 years __ 52 years __42 years
 Commence on the Closing Date
LIHTC:
___ Perpetual __ 99 years __ 60 years __ 50 years X 40 years (minimum
requirement starting 2021) __ 30 years
 Commences on the first year of the tax credit period
Federal Funds:
[ ] years from the Closing Date
Use of Ground Lease Structure:

3
Leverage: $1,008,271 Deferred Developer Fee Commitment
$0 Minimum Seller’s Note/Other Owner Subsidy Commitment
47 % DHCD Participation
$398,884 per unit
Unit Affordability Mix
and Applicable
Program(s):
See table below
Income Levels Served: 45% Weighted Average MFI Served
Mixed-Income: Inclusion of 20%+ Market Rate Units: ___ Yes X No
Minimum of 10% of units in three of the following income categories: X No
 0 percent to 30 percent MFI: 23 %
 31 percent to 50 percent MFI: 77 %
 51 percent to 80 percent MFI: 0 %
 Market-rate (unrestricted, unsubsidized): 0 %
Permanent Supportive
Housing (PSH):
20% X 10% __5% PSH units
X None __ Other:
__ DBH Units
__ Scattered Site __ Limited Site-Based __Site-Based
Office Space Required? X Y __ N
Security Plan Required? ___ Y X N
Family-Oriented Units: 27 - 2+ Bedroom units 17 - 3+ Bedroom units
Programs to Address
Additional Barriers to
Housing:
_ Returning citizens ___ Households of unknown immigration status ___
Residents with developmental or intellectual disabilities
___ Residents with diverse language needs ___ Youth aging out of foster care
___ Housing for Persons with AIDS
Housing for Seniors and
People with Disabilities:
___ Assisted Living that accommodates seniors and people with disabilities
___ Independent Living that accommodate seniors and people with disabilities
___ Age restricted housing 55+
___ Provision of twice the number of accessible and audio/visual units as
required by Section 504
Provision of Wealth-
Building Opportunities:
___ Immediate homeownership opportunities
___ Designation as DBE, ROB, or led or controlled by individuals designated as
socially disadvantaged per SBA
___ Structured to transfer to tenant ownership after the initial 15-year
compliance period
Vacancies filled from
Section 8 and Public
Housing Waiting List:
___Yes, X No
Qualified Non-Profit
Majority Owner with
ROFR:
X Yes _ No
___ N/A for non-LIHTC projects

4
Right to seek a Qualified
Contract waived:
X Yes (No is not an option)
___ N/A for non-LIHTC projects
Green Design and
Building Threshold
Requirements
Minimum Green Building Certification Required:
__ 2020 Enterprise Green Communities Criteria (EGC) (rehabilitation projects
of any size and new construction buildings less than 50,000 sf)
X 2020 Enterprise Green Communities Criteria Plus (EGC+) (new construction
buildings with at least 50,000 sf)
____ Level 1 Accelerated Savings Recognition Alternative Compliance Pathway
(ACP) Option for compliance with DOEE’s BEPS (rehabilitation projects of at
least 50,000 sf if not waived by DOEE due to current compliance)
____ Other (with DHCD approval): __________________
Solar Ready: Yes
Solar Included: X Yes ___No
Resilient Buildings and
Innovative Design:
Advanced Certification(s) or Innovative Design Features Pursued:
____ 2020 Enterprise Green Communities Criterion 5.4 Achieving Zero Energy
__ 2020 Enterprise Green Communities Plus (EGC Plus) (rehabilitation
projects of any size and new construction buildings less than 50,000 sf)
____ TRUE Zero Waste Certification
____ Whole Building Life-Cycle Assessment (LCA) Supported Low-____
Embodied Carbon Design
____ Enterprise Green Communities Criterion 5.10 Resilient Energy Systems:
Critical Loads
____ Mass-Timber Construction; and/or Modular Construction
____ Building Electrification (no on-site combustion)
____ 1.7-inch stormwater retention
____ Universal Design Standard
Resident Services and
Community-Oriented
Amenities:
_X_ Per Resident Services Plan
Budget Source (check all that apply): ___ Developer Fee X Fundraising ___
Operating Budget ___ Other]
Services Offered (check all that apply):
Training & Educational Programming – Academic and Economic Empowerment
Training & Educational Programming
– Environment, Health and Wellness
Resident Invo
lvement and Organizational Capacity-Building
Onsite Daycare Services (Proposed Adult Daycare)
Community Amenities (check all that apply):
___ High Speed Internet (at least 5 years at no charge; entire building)
X Community/Multi-purpose Room
Fitness Center
____ Onsite Grocer/Farmers Market/Food Provision/Garden
____ Health Facility Onsite
Workforce Development
and CBE Participation:
____ A local apprenticeship program exceeding minimum apprenticeship hours
worked by DC residents by 10% or more
____ Exceeding the District’s First Source Hiring requirement by 10% or more
____ Certified Business Enterprise (CBE) participation of 50% or more
Other Project Features: X Commercial Space(s): _1,100_ SF
Y Resident/Community Amenity Spaces:
Y Parking: 28 Spaces

5
Other:
____ Utilization of Condo or Tax Lot Regime for Ineligible Uses
Additional Explanation: __________________________________

B-1
EXHIBIT B
PROJECT BUDGET
[Attached]
DHCD- DEVELOPMENT BUDGET
TOTAL DEVELOPMENT COSTS Total Residential Units 56 Total Gross Square Footage 47,172
Source: Source: Source: Source: Source: Source: Source: Source: Source: Source:
100.0% Perm Debt F-LIHTC S-LIHTC HPTF DDF OTHER
ACQUISITION
Building AcquisitionLand Acquisition $2,800,000 80% $59 $50,000 $2,800,000 $2,800,000Closing Costs $285,000 8% $6 $5,089 $285,000 $285,000
Development Rights Acquisition $428,000 12% $9 $7,643 $428,000 $428,000
Other Acquisition Costs 3Other Acquisition Costs 4Other Acquisition Costs 5Total Acquisition Costs$3,513,000 8% $74 $62,732 $3,513,000 $2,800,000 $713,000
CONSTRUCTION
Construction Costs $21,294,550 70% $451 $380,260 $21,294,550 $14,608,798 $6,685,752Site work (Incl. Public Work) $2,762,556 9% $59 $49,331 $2,762,556 $2,762,556Environmental Remediation
Profit $948,741 3% $20 $16,942 $948,741 $948,741
Overhead $711,555 2% $15 $12,706 $711,555 $711,555
General Conditions/Requirements $1,504,932 5% $32 $26,874 $1,504,932 $1,504,932Builders Risk Insurance $165,000 1% $3 $2,946 $165,000 $165,000
Bond Premium $127,525 0% $3 $2,277 $127,525 $127,525
Contingency $2,705,023 10% $57 $48,304 $2,705,023 $1,049,744 $80,320 $1,287,959 $287,000Other Construction Cost 1Other Construction Cost 2Other Construction Cost 3Other Construction Cost 4Other Construction Cost 5Total Construction Costs$30,219,882 65% $641 $539,641 $30,219,882 $1,049,744 $14,608,798 $80,320 $14,194,021 $287,000
SOFT COSTS
Architect & Engineer $425,000 16% $9 $7,589 $425,000 $425,000
Architect & Engineer Supervision $85,000 3% $2 $1,518 $85,000 $85,000
A&E Reimbursables (Cost Review, LEE
D $10,000 0% $0 $179 $10,000 $10,000
Owner's Rep (Construction Monitoring) $300,000 12% $6 $5,357 $300,000 $300,000
Borrower Legal $300,000 12% $6 $5,357 $300,000 $300,000
Appraisal $12,500 0% $0 $223 $12,500 $12,500
Permits and Tap Fees (Incl Expediter) $450,000 17% $10 $8,036 $450,000 $450,000
Market Study $12,500 0% $0 $223 $12,500 $12,500
Environmental & Soil Reports $56,000 2% $1 $1,000 $56,000 $56,000
Testing and Inspection $15,000 1% $0 $268 $15,000 $15,000
Title, Transfer and Recordation $150,000 6% $3 $2,679 $150,000 $150,000
Interim Insurance $75,406 3% $2 $1,347 $75,406 $75,406
Interim TaxesAccounting Fees & Cost Certification $25,000 1% $1 $446 $25,000 $25,000
Marketing $50,000 2% $1 $893 $50,000 $50,000
Survey $40,000 2% $1 $714 $40,000 $40,000
FFE $100,000 4% $2 $1,786 $100,000 $100,000
Tenant ImprovementsUtility Connection Fees $250,000 10% $5 $4,464 $250,000 $250,000
Soft Cost Contingency $126,000 5% $3 $2,250 $126,000 $126,000Other Soft Cost 1
Type of Uses Total Budgeted
Cost
% of
Cost
Cost per sq
ft
Residential
PercentageCost per unit
Sources for DHCD Eligible Units/Uses Sources for DHCD Ineligible Units/Uses
RESIDENTIAL Non-
Residential
Percentage
HCD Form 202 (2023v3) 1
Source: Source: Source: Source: Source: Source: Source: Source: Source: Source:
100.0% Perm Debt F-LIHTC S-LIHTC HPTF DDF OTHER
Type of Uses Total Budgeted
Cost
% of
Cost
Cost per sq
ft
Residential
PercentageCost per unit
Sources for DHCD Eligible Units/Uses Sources for DHCD Ineligible Units/Uses
RESIDENTIAL Non-
Residential
Percentage
Other Soft Cost 2 $80,000 3% $2 $1,429 $80,000 $80,000
Other Soft Cost 3 $25,000 1% $1 $446 $25,000 $25,000
Other Soft Cost 4Other Soft Cost 5Total Soft Costs$2,587,406 6% $55 $46,204 $2,587,406 $126,000 $2,461,406
DCHFA FINANCING COSTS
DCHFA Bond Application Fee $22,795 0% $0 $407 $22,795 $22,795
DCHFA McKinney Application Fee $10,000 0% $0 $179 $10,000 $10,000
DCHFA McKinney Financing FeeDCHFA Financing Fee $455,900 10% $10 $8,141 $455,900 $455,900
DCHFA Construction Monitoring Fee $303,396 7% $6 $5,418 $303,396 $303,396
DCHFA QPP FeeDCHFA Issuer's Counsel Fee $45,000 1% $1 $804 $45,000 $45,000
DCHFA Issuer Fee (ST Bonds) $173,952 4% $4 $3,106 $173,952 $173,952
DCHFA Issuer Fee (LT Bonds) $43,200 1% $1 $771 $43,200 $43,200
DCHFA LIHTC Allocation Fee $120,508 3% $3 $2,152 $120,508 $120,508
McKinney Interest $30,000 1% $1 $536 $30,000 $30,000
Total DCHFA Financing Costs $1,204,751 3% $26 $21,513 $1,204,751 $1,204,751
OTHER FINANCING COSTS
DHCD LIHTC Allocation Fee $82,213 2% $2 $1,468 $82,213 $82,213
DC LIHTC Fee $51,383 1% $1 $918 $51,383 $51,383
Bond Counsel $125,000 3% $3 $2,232 $125,000 $125,000
Bond Purchaser's Counsel $62,750 1% $1 $1,121 $62,750 $62,750
Underwriter Fee $120,000 3% $3 $2,143 $120,000 $120,000
Underwriter's CounselTrustee Setup Fee/Legal $13,875 0% $0 $248 $13,875 $13,875
Rating Agency/Printing Fee $41,500 1% $1 $741 $41,500 $41,500
Negative ArbitrageTax Credit Fees/Legal $150,000 3% $3 $2,679 $150,000 $150,000
Construction Period Intererst Capitalized $2,113,371 46% $45 $37,739 $2,113,371 $2,113,371Construction LoC FeeConstruction LoC Annual FeeConstruction Lender's Fee $260,000 6% $6 $4,643 $260,000 $260,000
Construction Lender's Counsel $75,000 2% $2 $1,339 $75,000 $75,000
Construction Lender's Inspection Fee $25,000 1% $1 $446 $25,000 $25,000
Conversion FeePermanent Lender Financing Fee $140,000 3% $3 $2,500 $140,000 $140,000
Permanent Lender Inspection FeePermanent Lender Counsel Fee $75,000 2% $2 $1,339 $75,000 $75,000
Financial AdvisorCash Flow Verification AnalystGIC Brokerage FeePredevelopment Lender Fees/Interest $437,000 10% $9 $7,804 $437,000 $437,000
Financing ContingencyInvestor Legal Fee $60,000 1% $1 $1,071 $60,000 $60,000
Syndication Fee $25,000 1% $1 $446 $25,000 $25,000
Credit Enhancement $728,250 16% $15 $13,004 $728,250 $728,250
Other Financing Cost 4Other Financing Cost 5Total Other Financing Costs$4,585,342 $97 $81,881 $4,585,342 $4,585,342
HCD Form 202 (2023v3) 2
Source: Source: Source: Source: Source: Source: Source: Source: Source: Source:
100.0% Perm Debt F-LIHTC S-LIHTC HPTF DDF OTHER
Type of Uses Total Budgeted
Cost
% of
Cost
Cost per sq
ft
Residential
PercentageCost per unit
Sources for DHCD Eligible Units/Uses Sources for DHCD Ineligible Units/Uses
RESIDENTIAL Non-
Residential
Percentage
DEVELOPER'S FEEFee on Non-Acquisition Costs $3,959,083 9% $84 $70,698 $3,959,083 $2,503,435 $1,455,648Fee on Acquisition Costs $140,000 0% $2,500 $140,000 $140,000Total Developer's Fee$4,099,083 9% $73,198 $4,099,083 $2,643,435 $1,455,648
RESERVES AND ESCROWS (funded amounts only)
Operating Reserve $475,000 47% $10 $8,482 $475,000 $475,000Lease Up Reserve $260,775 26% $6 $4,657 $260,775 $260,775Replacement Reserve Deposit (Initial Pay
m $19,600 2% $0 $350 $19,600 $19,600
Debt Service Reserve $225,000 22% $5 $4,018 $225,000 $225,000LRSP Staff Lease Up $30,000 3% $1 $536 $30,000 $30,000Other Reserve 2Other Reserve 3
Other Reserve 4
Other Reserve 5Total Reserves and Escrows $1,010,375 2% $21 $18,042 $1,010,375 $1,010,375
TOTAL USES OF FUNDS $47,219,839 914.12 $ 843,211.41$ $47,794,346 $4,829,554 $14,608,798 $2,880,320 $22,445,520 $1,455,648 $1,000,000
MAXIMUM DEVELOPER'S FEE 5,404,060 14,592,850 2,877,176 22,445,664 1,008,271 1,000,000
Fee on Non-acquisition Costs
Less Acquisition Costs
Less Construction ContingencyLess Soft Cost + Financing Contingency Non Acquisition Fee Basis
Cost/ sq ft Cost per unit
Fee on Non-acquisition Costs $84 $70,698
Fee on Acquisition Costs
Acquisition Costs
Cost/ sq ft Cost per unit
Fee on Acquisition Costs $3 $2,500
Total Developer's Fee $87 $73,198
-$5,780,093Less LIHTC Syndication and Bond Financing-Related Costs
Maximum Developer Fee Calculation
5%
Fee on Development Costs Fee on Acquisition Costs
Eligible development costs for calculating the maximum fee do not
include the following: hard or soft cost contingencies,
syndication/bond-financing related costs; funded guarantee and
reserve accounts that are required by lenders or investors; and
developers' fees.
If there is an identity of interest between the seller and the purchaser, no fee shall be calculated
on the acquisition price.
15% 5%
Any fee in excess of $2 million shall be deferred up to the amount that can be recovered from cash flow over 12 years of operations. Amounts that cannot be repaid
during this period will be added to the initial $2 million paid fee.
-$3,513,000
-$2,705,023
$4,099,083
$140,000
-$126,000
$29,986,265
15%
$3,959,083
$2,800,000
$42,110,381
Total Development Costs before Developer's Fee and
Guarantees and Reserves
HCD Form 202 (2023v3) 3

C-1
EXHIBIT C
CONSTRUCTION DRAW SCHEDULE
[Attached]
Period/Milestone Closing Budget Closing Total Balance
Month 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
Date 12/30/25 1/31/26 2/28/26 3/31/26 4/30/26 5/31/26 6/30/26 7/31/26 8/31/26 9/30/26 10/31/26 11/30/26 12/31/26 1/31/27 2/28/27 3/31/27 4/30/27 5/31/27 6/30/27 7/31/27 8/31/27 9/30/27 10/31/27 11/30/27 12/31/27
Development Uses
Total Acquisition Costs 3,513,000 3,513,000$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 3,513,000 0
Total Construction Costs 30,219,882 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 1,208,795$ 30,219,882 0
Total Soft Costs 2,587,406 2,287,406$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 12,500$ 2,587,406 0
Total DCHFA Financing Costs 1,204,749 1,204,749$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 1,204,749 0
Total Other Financing Costs 4,585,488 4,585,488$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 4,585,488 0
Total Developer's Fee 4,673,590 1,168,397$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 1,168,397$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 2,336,795$ 4,673,590 0
Total Reserves and Escrows 1,010,375 1,010,375$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 1,010,375 0
-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
TOTAL USES 47,794,490$ 14,978,211$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 2,389,693$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 3,558,090$ 47,794,490 0
Predevelopment Sources
-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
SUBTOTAL -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
Bridge/Construction Sources
-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
SUBTOTAL -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
Permanent Sources - Residential
Mortgage 5,404,060 5,404,060$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 5,404,060 0
HPTF 23,445,664 6,369,591$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ -$ 1,221,295$ 1,221,295$ 1,199,238$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 23,445,664 (0)
FLIHTC 14,608,798 1,460,880$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 1,669,613$ -$ -$ 11,057$ 1,014,495$ 1,014,495$ 1,014,495$ 1,014,495$ 1,014,495$ 1,014,495$ 1,014,495$ 1,014,495$ 3,351,290$ 14,608,797 0
DDF 1,455,648 1,455,648$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 1,455,648 0
SLIHTC 2,880,320 288,032$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 720,080$ -$ -$ 11,000$ 206,801$ 206,801$ 206,801$ 206,801$ 206,801$ 206,801$ 206,801$ 206,801$ 206,801$ 2,880,320 (0)
Permanent Sources - Nonresidential
-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 0 0
SUBTOTAL 47,794,490$ 14,978,211$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 2,389,693$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,296$ 1,221,296$ 1,221,296$ 1,221,296$ 1,221,296$ 1,221,296$ 1,221,296$ 1,221,296$ 3,558,091$ 47,794,489 0
TOTAL SOURCES 47,794,490$ 14,978,211$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,295$ 2,389,693$ 1,221,295$ 1,221,295$ 1,221,295$ 1,221,296$ 1,221,296$ 1,221,296$ 1,221,296$ 1,221,296$ 1,221,296$ 1,221,296$ 1,221,296$ 3,558,091$ 47,794,489 0
SOURCES less USES -$ 0$ (0)$ (0)$ (0)$ (0)$ (0)$ (0)$ (0)$ (0)$ (0)$ (0)$ (0)$ 0$ (0)$ (0)$ (0)$ 0$ 0$ 0$ 0$ 0$ 0$ 0$ 0$ 1$ (0) 0
Residential Absorption and Construction Loan Paydown Analysis (Homeownership Only)
PROJECTED DRAW SCHEDULE
DHCD Form 202 (2023 v3)

D-1
EXHIBIT D
FEDERAL LABOR STANDARDS CONTRACT ADDENDUM
[Attached]
Federal Labor Standards Provisions
‘ApplicabilityTheProjectorProgramtowhichtheconstructionworkthiscontractpertainsisbeingassistedbythe18ofAmericaandthefollowingFederalLaborStandardsProvisionsareincludedinthisContractPursuantto theprovisionsapplicabletosuchFederalassistance.
A.4.(I)MinimumWages.Alllaborersandmechanicsemployedorworkinguponthesiteofthework,willbepaiunconditionallyandnotlessoftenthanonceaweek,andwithoutsubsequentdeductionorrebateonanyaccount(exceptsuchpayrolldeductionsasarepermittedbyjonsissuedbytheSecretaryofLaborunderth

‘andbonafidefringebenefits(orcashequidueattimeof paymentcomputedat+thosecontainedinSecretaryofLaborwhichisattachparthereof,regardlessofanycontractualwhichmaybe xistbetweenthecontr‘suchlaborersandmechanics.Contributionsmadeor‘costsreasonablyanticipatedforbonafidefringebenefitsunderSectionI(b)(2)oftheDavis-BaconActonbehalfoflaborersormechanicsareconsideredwagespaidtosuchlaborersormechanics,subjecttotheprovisionsof29CFRiso,regularcontributionsmadeorcoststhan@weeklyperiod(butnotlessoftenthanquarterly)under plans,funds,orprograms,whichcovertheparticularweeklyperiod,aredeemedtobeconstructivelymadeorincurredduringsuchweeklyperlo
Suchfaborersandmechanicsshallbepaidthe appropriawagerateandfringebenefitsonthewagedeterminationfortheclassificationofworkactuallyperformed,withoutregardtoskill,exceptasprovidedin29CFR5.8(a)(4).Laborersormechanicsperformingworkinmorethanoneclassificationmaybecompensatedattheratespecifiedforachclassificationforthetimeactuallyworkedtherein:Provided,Thatthe employer'spayrollrecordsaccuratelyetforththetimespentin eachclassificationinwhichworkisperformed.Thewage determination(includinganyadditionalclassificationandwa under29CFR§.6(a)(1)(i)andtheDavi (Wee

1321)shallbepostedatalltimesbythecontractoranditssubcontractorsatthesiteoftheworkinaprominentandaccessible,placewhereitcanbe seenbytheworkers.
(11)(a)Anyclassof laborersormechanicswhichisnotlistedinthewagedeterminationandwhichistoemployedunderthecontractshallbe classifi inconformancewiththewagedetermination.HUD shallapproveanadditionalclassificationandwagerateandfringebenefitsthereforonlywhenthefollowingcriteria

U.S.DepartmentofHousing‘andUrbanDevelopmentOfficeofLaborRelations
(1) Theworktobe performedbytheclassificationquestedisnotperformedby2clGetermination;and
(2)Theclassificationisutilizedinthearconstructionindustry;and
(8)Theproposedwagerate,includinganybonafidefringebenefits,bearsa reasonablerelationshiptothe‘wageratescontainedinthewage determination.
(b)Ifthecontractorandthelaborersandmechanicstobeemployedintheclassification(ifknown),ortheirrepresentatives,andHUDoritsdi ‘agreeontheel ionandway (includingtheamount

‘andHourDivision,EmploymentSta tion,U.S.DepartmentofLabor,Washington,D.C.20210.TheAdminiauthorizedrepresentative,willapprove,modify,ordisapproveeveryadditionalclassificationactionwithin30daysofreceiptand80adviseHUDorItsdesigneeorwillnotifyHUDoritsdesigneewithinthe30-dayperiodthatadditionaltimeisnecessary.(ApprovedbytheOfficeof

ManagementandBudgetunderOMBcontrolnumber1215-0140.)

to be employedin the classificpresentatives,andHUDoritsdtheproposedclassificationandwagerate(includingthewhereappropriate),shallreferthequestions,includingtheviewsofallinterestedpartiesandtherecommendationofHUD oritsdesignee,totheAdministratorforination.TheAdministrator,oran authorizedntative,willIssue@determinationwithin30daysofjceiptandsoadviseHUDoritsdesigneeorwillnotifyHUD oritsdesigneewithinthe30-dayperiodthatadditionaltimeIsnecessary.(ApprovedbytheOfficeofManagementandBudgetunderOMB ControlNumber1218-0140.)
(8) Thewagerate(includingfringebenefitswhereappropriate)determinedpursuantto subparagraphs(1)Gi)(0)oF(¢)ofthisparagrworkersperformingworkintheclcontractfromthefirstdayonwhichworkisperformedintheclassification,
(Ill)WhenevertheminimumwagerateprescribedInthecontractforaclassoflaborersormechanicsincludfringebenefitwhichisnotexpressedasanhourly,contractorshalleltherpaythebenefitasstwagedeterminationorshallpayanotherbonafibenefitoranhourlycashequivalentthereof.
{Iv)Ifthecontractordoesnotmakepaymentstoatrustee‘orotherthirdperson,thecontractormayconsideraspart

Previouseditionsareobsolete Pagetof5 Tar HUD-4010(08/2008)at.Handbook1344.1

ofthewagesofany laborerormechanictheamountofanycostsreasonablyanticipatedinprovidingbonafidefringbenefitsundera planorprogram,Provided,ThattheSecretaryofLaborhasfound,uponthewrittenrequestofthecontractor,thattheapplicablestandardsoftheDavisjaconActhavebeenmet.TheSecretaryofLabormayrequirethecontractortosetasideinaseparateaccountisforthemeetingofobligationsundertheplanorprogram.(ApprovedbytheOfficeofManagementandBudgetunderOMBControlNumber1215-0140.)
2.Withholding.HUDoritsdesigneeshalluponitsownactionor uponwrittenrequestof an authorize:representativeoftheDepartmentofLaborwithholdorcausetobewithheldfromthecontractorunderthiscontractoranyotherFederalcontractwiththecontractor,or anyotherFederSubjecttoDavis-Baconprevailingwagerequirements,whichisheldbythesameprimecontractorsomuchofthe‘accruedpaymentsoradvancesas maybeconsiderednecessarytopaylaborersandmechanics,includingapprentices,traineesandhelpers,employedby thecontractororanysubcontractorthefullamountofwarequiredbythecontractintheeventoffailuretopayanylaborerormechanic,includinganyapprentice,traineeorhelper,employedorworkingonthesiteofthework,allorpartofthewagesrequiredbythecontract,HUDoritsdesignoemay,afterwrittennoticetothecontractor,sponsor,applicant,orowner,takesuchactionasmaybenecessarytocausethesuspensionofanyfurtherpayment,advance,orguaranteeoffundsuntilsuchViolationshaveceased.HUDoritsdesigneemay,afterwrittennoticetothecontractor,disbursesuchamountswithheldforandon accountofthecontractororsubcontractortotherespectiveemployeestowhomtheyaredue.TheComptrollerGeneralshallmakesuchdisbursementsinthecasoofdirectDavis-BaconActcontracts.
3.(I)Payrollsandbasicrecords.Payrollsandbasicrecordsrelatingtheretoshallbe maintainedby thecontractorduringthecourseoftheworkprperiodofthreeyearsthereafterforall|mechanicsworkingatthesiteofthework.Suchrecor‘shallcontainthename,address,andsocialsecuritynumberofeachsuchworker,hisor hercorrectClassification,hourlyratesofwagespaid(includingraterofcontributionsorcostsanticipatedforbonafidefringebenefitsorcashequivalentsthereotofthetypesdescribedinSection1(b)(2)(B)oftheDavis-baconAct),dailyandweeklynumberofhoursworked,deductionsmadeandactualwagespaid.WhenevertheSecretaryofLaborhasfoundunder29CFR5.5(a)(1)(iv)thatthewagesofanylaborerormechanicIncludetheamountofanycostsanticipatedinprovidingbenefitsundera planorprogramdescribedInSectionI(b)(2)(B)oftheDavis-BaconAct,thecontractorshallmaintainrecordswhichshowthatthecommitmenttoprovidesuchbenofitsisenforceable,thattheplanorprogramisfinanciallyandthattheplanorprogramhasbeen

Page2015
communicatedinwritingtothelaborersormechanicsaffected,andrecordswhichshowthecostsanticipatedortheactualcostincurredinprovidingsuchbenefitsContractorsemployingapprenticesor traineesunderapprovedprogramssk writtenevidenceofthefegistrationofapprenticeshipprogramsandcertificationofprograms,theregistrationoftheapprenticesandandtheratiosandwage ratesprescribedinthebleprograms.(Approvedby theOfficeofyementandBudgetunderOMB ControlNumbers1218-0140and1218-0017.)
(Ml)(a)Thecontractorshallsubmitweeklyforeachweekinwhichanycontractworkisperformeda copyofallpayrollstoHUDoritsdesigneeifthe agencyisapartytothecontract,butiftheagencyisnotsucha party,thecontractorwillsubmitthepayrollstotheapplicant‘sponsor,orowner,asthecasemaybe,fortransmissiontoHUDoritsdesignee.Thepayrollssubmittedshallsetoutlionrequired29CFR5.5(a)(3)(i)exceptthatfullfecuritynumbersandhomeaddressesshallnotbeincludedonweeklytransmittals.InsteadthepayrollsshallonlyneedtoIncludeanindividuallyidentifyingnumbertor‘eachemployee(2.9.,thelastfourdigitsoftheemployee'ssocialsecuritynumber).TherequiredweeklypayrollInformationmay be submittedinanyformdesired.OptionalFormWH-347isavailableforthispurposefromthe Wage and Hour DivisionWeb siteattto-iwmw.dol.gov/esa/whditorms/wh347instchimof itsSuccessorsite.Theprimecontractorisresponsibleforthesubmissionof copiesofpayrolisby allsubcontractors.ContractorsandsubcontractorsshallmaintainthefullSocialsecuritynumberandcurrentaddressof eachcoveredworker,andshallprovidethemupon requesttoHUD oritsdesigneeiftheagencyis@ partytothecontract,butiftheagencyisnotsuch@ party.thecontractorwillsubmitthepayrollstotheapplicant‘sponsor,orowner,asthecasemaybe,fortransmissiontoHUDoritsdesignee,thecontractor,ortheWageandHourDivisionoftheDepartmentofLaborforpurposesofanInvestigationorauditofcompliancewithprevailingwagerequirements.itisnotaviolationofthissubparagraphfora primecontractorto requirea subcontractortoprovideaddressesand socialsecuritynumberstotheprimecontractorforitsown .withoutweeklysubmissiontoHUD oritsdesignee.(ApprovedbytheOfficeofManagementandBudgetunderOMB ControlNumi1218-0149.)
(b)Eachpayrollsubmittedshailbeaccompaniedbya"StatementofCompliance,”signedbythecontractororSubcontractororhisorheragentwhopaysorsupervises.thepaymentofthepersonsemployedunderthecontractandshallcertifythefollowing:
(1)ThatthepayrollforthepayrollperiodcontainstheInformationrequiredtobeprovidedunder29CFR5.5(2)(3)(W),theappropriateinformationisbeingmaintainedunder28CFR§.6(a)(3)(),andthatsuchinformationiscorrectandcomplete:

TomHUD-40T0(08/2000)ref.Handbook1344.1

(2)Thateachlaborerormechanic(includingeachhelapprentice,andtrainee)employedonthecontractduringthepayrollperiodhasbeenpaidthefullweeklywagesned,withoutrebate,eltherdirectlyorindirectly,andthatnodeductionshavebeenmadeeitherdirectlyorindirectlyfromthefullwages earned,otherthan‘missibledeductionsassetforthin29CFRPart3;
(3)Thateachlaborerormechanichasbeenpaidnotlessthantheapplicablewage ratesandfringebenefitsorcashequivalentsfortheclassificationofworkperformed,a5specifiedin the applicablewage determinationincorporatedintothecontract.
{) Theweeklysubmissionof@ properlyexecutedcertificationsetforthonthereversesideofOptionalFormWH-347shallsatisfytherequirementforsubmissionofthe"StatementofCompliance”requiredby subparagraphAS.AiIN(0).
(4)The falsificationofanyofthe abovecertificationsmaysubjectthecontractororsubcontractortocivilorcriminalprosecutionunderSection1001ofTitle18andSection231ofTitle31oftheUnitedStatesCode
(Ill)ThecontractororsubcontractorshallmakethedsrequiredundersubparagraphA.9.())availableforInspection,copying,or transcriptionby authorizedpresentativesofHUDoritsdesigneeortheDepartmentofLabor,andshallpermitsuchrepresentativestointerviewemployeesduringworkinghoursonthejob.Ifthecontractororsubcontractorfailstosubmittherequiredrecordsortomakethemavailable,HUDorits designeitennoticetothecontractor,sponsor,applicantorowner,takesuchactionasmaybenecessarytocausethesuspensionofanyfurtherpayment,advanceoffunds.Furthermore,failuretosubmittherequiredrecordsuponrequestortomakesuchrecordsavailablemaybegroundsfordebarmentactionpursuantto29CFR5.12.

thanthepredeterminedratefortheworktheyperformedwhentheyareemployedpursuanttoandindividuallyregisteredina bonafideapprenticeshipprogramregisteredwiththeU.S.DepartmentofLabor,EmploymentandTrainingAdministration,OfficeofApprenticeshipTraining,EmployerandLaborServices,orwitha StateApprenticeshipAgencyrecognizedbytheOffice,orif@ personisemployedinhisorherfirst90‘daysofprobationaryemploymentas anapprenticeinsuch‘anapprenticeshipprogram,who isnotindividu:registeredintheprogram,butwhohasbeencertifiedbytheOfficeofApprenticeshipTraining,EmployerandLaborServicesor a StateApprenticeshipAgency(whereappropriate)tobeeligibleforprobationaryemploymentfanapprentice.TheallowableratioofapprenticestoJourneymenonthejobsiteinanycraftclassificationsh‘notbegreaterthantheratiopermittedtothecontractorastotheentireworkforceundertheregisteredprogram.Anyworkerlistedon@payrollatanapprenticewagerate,who

1doFotherwiseemployedasstatedabove,‘shallbepaidnotlessthantheapplicablewagerateonthewagedeterminationforthe classificationofworkactuallyInaddition,anyapprenticeperformingworkoniteinexcessoftheratiopermittedunderthe13programshallbe paidnotlessthantheapplicablewagerateonthewagedeterminationforthe‘workactuallyperformed.Where@contractoris performing‘constructiononaprojectinalocalityotherthanthatinwhichitsprogramisregistered,theratiosandwagerates(expressedinpercentagesofthejourneyman'shourlyrale)specifiedinthecontractor'sorsubcontractor'sfegisteredprogramshallbeobserved.Everyapprenticemustbepaidatnotlessthanthe ratespecifiedintheregisteredprogramfortheapprentice’slevelofprogress,expressedasapercentageofthejourneymenhourlyratespecifiedin the applicablewage determination.Apprenticesshallbepaidfringebenefitsinaccordancewiththeprovisionsoftheapprenticeshipprogram.iftheapprenticeshipprogramdoesnotspecifyfringebenefits,apprenticesmustbepaidthefullamountoffringebenefitslistedon thewagedeterminationfortheapplicableClassification.IftheAdministratordeterminesthatadifferentpracticeprevailsfortheapplicableapprenticeClassification,fringesshallbepaidinaccordancewiththatdetermination.IntheeventtheOfficeofApprenticeshipTraining,EmployerandLaborServices,ora State‘ApprenticeshipAgencyrecognizedby theOffice,withdrawsapprovalofanapprenticeshipprogram,thecontractorwillno longerbe permittedto utilizeapprenticesatlessthantheapplicablepredeterminedratefortheworkperformeduntilanacceptableprogramisapproved,
(ll)Trainees.Excepta8providedin29CFR5.16,traineeswillnotbepermittedtoworkatlessthanthepredeterminedratefortheworkperformedunlessthayare‘employedpursuant*,t0andIndividuallyregisteredInaprogramwhichhasreceivedpriorapproval,evidencedbyformalcertificationbytheU.S.DepartmentofLabor,EmploymentandTrainingAdministration.Theratiooftraineesto journeymenonthejobsiteshallnotbegreaterthanpermittedundertheplanapprovedby theEmploymentandTrainingAdministration.Everytraineemustbepaidatnotlessthantheratespecifiedinthe‘approvedprogramforthetrainee’slevelofprogre:‘expressedasapercentageofthejourneymanhourlyrate‘specifiedintheapplicablewagedetermination.Trainees‘shallbepaidfringebenefitsinaccordancewiththeprovisionsofthetraineeprogram.Ifthetraineeprogramdoesnotmentionfringebenefits,traineesshallbepaidthefullamountoffringebenefitslistedonthewagedeterminationunlesstheAdministratoroftheWageandHourDivisiondeterminesthatthereisanapprenticeshipprogram associatedwiththecorrespondingjourneymanwagerateonthewagedeterminationwhichprovidesforlessthanfullfringebenefitsforapprenti ‘Any‘employeelistedonthepayrollatatraineeratewho isnotregisteredandparticipatingina trainingplanapprovedby

‘Fraviousedivonsareobsolete Page3of5 TarmHUD-4010(08/2000)of,Handbook1344.1

theEmploymentandTrainingAdministrationshallbepaidnotlessthantheapplicablewagerateonthewagedeterminationfortheworkactuallyperformed.inaddition,anytraineeperformingworkonthejobsiteinexcetheratiopermittaidnotlessthantheappli onthewagedeterminationfortheworkactuallyperformed.IntheeventtheEmploymentandTrainingAdministrationwithdrawsapprovalof trainingprogram,thecontractornolongerbe permittedtoutilizetraineesatlessthanfortheworkperformed

(ill)Equalemploymentopportunity.Theutilizationofapprentices,traineesandjourneymenunder29CFRPart5shallbe inconformitywiththeequalemploymentopportunityrequirementsofExecutiveOrder11248,asnd29CFRPart30.

ndActrequirements.Thecontractorshallcomplywiththerequirementsof29CFRPart3whichareincorporatedbyreferenceinthiscontract,
6. Subcontracts.Thecontractororsubcontractorwilltin anysubcontractstheclausescontainedinsubparagraphs1through11InthisparagraphA andsuch‘otherclausesasHUDor itsdesigneemaybyappropriateinstructionsrequire,and@ copyoftheapplicableprevailingwagedecision,andalsoa clauserequiringthesubcontractorstoincludetheseclausesinanylowertiersubcontracts.Theprimecontractorshallberesponsibleforthecompliancebyanysubcontractororlowertier

subcontractorwith allthecontractclausesinthisparagraph,
7.Contracttermination;debarment.Abreachofthe contractclausesin29CFR5.5maybegroundsforrminationofthecontractandfordebarment= asacontractorand@ subcontractorasprovidedin29CFR5.12,
‘8.CompliancewithDavis-BaconandRelatedActRequirements.AllrulingsandinterpretationsoftheDavis-BaconandRelatedActscontainedin29CFRParts1,3,and5arehereinincorporatedbyreferenceinthiscontract
8. Disputesconcerninglaborstandards.Disputesarisingoutofthe laborstandardsprovisionsofthiscontractshallnotbesubjecttothegeneraldisputes‘clauseofthiscontract.SuchdisputesshallberesolvedinaccordancewiththeproceduresoftheDepartmentofLaborsetforthin29CFRParts5,8,and7.Disputeswithinthemeaningofthisclauseincludedisputesbetweenthecontractor(oranyofitssubcontractors)andHUDor1Sdesignee,theU.S.DepartmentofLabor,ortheemployeesor theirrepresentatives,
10.(I)Certificationof Eligibility.Byenteringintothiscontractthecontractorcertifiesthatneitherit(norheorshe)noranypersonorfirmwhohasaninterestinthecontractor'sfirmIsa personorfirmineligibletobeawardedGovernmentcontractsbyvirtueofSection3(a)oftheDavis-BaconActor29CFR5.12(a)(1)ortobe

awardedHUDcontractsorparticipateInHUDprogramspursuantto24CFRPart24.
(1)Nopartofthiscontractshallbesubcontractedtoanypersonorfirmineligibleforawardofa GovernmentcontractbyvirtueofSection3(a)oftheDavis-BaconActor29CFR5.12(a)(1)ortobe awardedHUDcontractsorparticipateinHUDprogramspursuantto24CFRPart24
(tl)Thepenaltyformakingfalsestatementsisprescribed‘Additionally,18,US.C.,“FederalHousingAdministrationtransactions”,providesinpart:“Whoever,forthepurposeof... influencinginanywaytheactionofsuchAdministration.....makes,uttersorpublishesanystatementknowingthesametobefalse.Shallbefinednotmorethan$5,000orimprisonednotmorethantwoyears,orboth.
14. Complaints,Proceedings,or TestimonybyEmployees.Nolaborerormechanictowhomthewage,salary,orotherlaborstandardsprovisionsofthisContractareapplicableshailbedischargedorinanyothermannerdiscriminatedagainstby theContractoror anysubcontractorbecausesuchemployeehasfiledanycomplaintorinstitutedorcausedtobeinstitutedanyproceedingofhastestifiedorisabouttotestifyinanyproceedingunderorrelatingtothelaborstandardsapplicableunderthisContracttohisemployer.
B.ContractWorkHoursandSafetyStandardsAct.The‘provisionsofthisparagraphBareapplicablewheretheamountofthe‘rimecontractexceeds$100,000.Asusedinthisparagraph,theterms"Yaborers”and‘mechanics’includewatchmenandguards.
(1)Overtimerequirements.NocontractororsubcontractorcontractingforanypartofthecontractworkwhichmayrequireorInvolvetheemploymentoflaborersormechanicsshallrequireor
‘permitanysuchlaborerormechanicinanyworkweekinwhichtheIndividualisemployedonsuchworktoworkinexcessof40hoursin‘suchworkweekunlesssuchlaborerormechanicreceives‘compensationataratenotlessthanoneandone-halftimesthebasicrateofpayforalhoursworkedinexcessof40hoursinsuchworkweek
(2)Violation;Habitityforuny liquidateddam Inthe eventofanyviolationoftheclausesetforthInsubparagraph(1)ofthisparagraph,thecontractorandanysubcontractorresponsiblethereforshallbeliablefortheunpaidw Inaddition,suchcontractorandsubcontractorshallbeliabletotheUnitedStates(inthecaseofworkdoneundercontractfortheDistrictofColumbiaor@ territory,tosuchDistrictortosuchterritory),forliquidateddamages.Suchliquidateddamagesshallbecomputedwithrespecttoeachindividu;laborerormechanic,includingwatchmenandguards,employedin violationof theclausesetforthin‘Subparagraph(1)ofthisparagraph,inthesumof$10foreach‘calendardayonwhichsuchindividualwasrequiredorpermitiedtoWorkinexcessofthestandardworkweekof40hourswithoutpayment‘oftheovertimewagesrequiredbytheclausesetforthinsubparagraph(1)ofthisparagraph.

ProwouseationsareObso}te Page4of5 TarHUD-4010(08/2000)‘raf,Handbook1344.1

(3) Withhoidingforunpaidwa liquidatedHUDoritsdesigneeshalluponitsownaction‘oruponwrittenrequestofanauthorizedrepresentativeoftheDepartmentofLaborwithholdorcausetobewithhefromanymoneyspayableonaccountofworkperformedbythecontractororsubcontractorunderanysuchcontractoranyotherFederalcontractwiththesameprimecontract,‘ofanyotherFederally-assistedcontractsubjecttotheContractWorkHoursandSafetyStandardsActwhichIs

hheldbythesameprimecontractorsuchsumsasmaybedeterminedtobenecessarytosatistyanyliabilitiesof‘Suchcontractororsubcontractorforunpaidwagesand

liquidateddamagesasprovidedintheclausesetforthinsubparagraph(2)ofthisparagraph
(4)Subcontracts.ThecontractororsubcontractorshallInsertinanysubcontractstheclau t forthin‘subparagraph(1)through(4)ofthisparagraphandalsoaclauserequiringthesubcontractorstoincludetheseInanylowertiersubcontracts.Theprimecontractorshallberesponsibleforcompliancebyanysubcontractororlowertlersubcontractorwiththeclausesforthinsubparagraphs(1)through(4)ofthisph.
. HealthandSafety.TheprovisionsofthisparagraphC areapplicablewheretheamountoftheprimecontractexceeds$100,000.
(1)Nolaborerormechanicshallberequiredto workinSurroundingsorunderworkingconditionswhichareunsanitary,hazardous,ordangeroustohishealthandsafetyas determinedunderconstructionsafetyandhealthstandardspromulgatedbytheSecretaryofLaborbyregulation,
(2)TheContractorshallcomplywithall_regulationsIssuedbytheSecretaryofLaborpursuanttoTitle29Part1926andfailuretocomplymay resultinimpositionof‘sanctionspursuanttotheContractWorkHoursandSafetyStandardsAct,(PublicLaw91-54,83Stat96).49 USC3701etsea.
(3)Thecontractorshallincludetheprovisionsofthisparagraphineverysubcontractsothatsuchprovisionswilbbebindingoneachsubcontractor.ThecontractorshallcttoanysubcontractorastheryofHousingandUrbanDevelopmentortheSecretaryofLaborshalldirectasa meansofenforcing‘suchprovisions.

reviousediionsareObs00te PageSof5 TarimHUB-A0T0(08/2008)refHandbook1346.1

E-1
KH 1334879.2
EXHIBIT E
DAVIS-BACON WAGE DETERMINATION
[Attached]
"General Decision Number: DC20260002 01/16/2026

Superseded General
Decision Number:
DC20250002

State: District of
Columbia

Construction Type:
Building

County: District of
Columbia Statewide.

BUILDING CONSTRUCTION
PROJECTS (does not
include single family
homes or apartments
up to and including 4
stories).

Modification Number Publication Date
0 01/02/2026
1 01/09/2026
2 01/16/2026

ASBE0024-007 10/01/2024

Rates Fringes

ASBESTOS WORKER/HEAT & FROST
INSULATOR........................$ 40.77 20.17+a

Includes the application of all insulating materials,
protective coverings, coatings and finishes to all types
of
mechanical systems

a. PAID HOLIDAYS: New Year's Day, Martin Luther King Day,
Memorial Day, Independence Day, Labor Day, Veterans' Day,
Thanksgiving Day,the day after Thanksgiving and Christmas
950 EASTERN AVENUE N.E. PROJECT:
Building Decision No.: DC20260002
Modification No.: 2
Publication Date: 1/16/2026
LOCK-IN DATE: 1/28/2026
LABOR STANDARD- Construction must start by
7/28/2026, otherwise a new Wage Decision must be
assigned.
MONITORS Fabian Furr (Field/Admin) Office # (202)442-
7293 & Work Cell # (202)329-4117
Day provided the employee works the regular work day
before
and after the paid holiday.

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ASBE0024-008 10/01/2024

Rates Fringes

ASBESTOS WORKER: HAZARDOUS
MATERIAL HANDLER.................$ 24.46 10.19+a

Includes preparation, wetting, stripping, removal,
scrapping,
vacuuming, bagging and disposing of all insulation
materials, whether they contain asbestos or not, from
mechanical systems

a. PAID HOLIDAYS: New Year's Day, Martin Luther King Day,
Memorial Day, Independence Day, Labor Day, Veterans' Day,
Thanksgiving Day,the day after Thanksgiving and Christmas
Day provided the employee works the regular work day
before
and after the paid holiday.

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ASBE0024-014 10/01/2024

Rates Fringes

FIRESTOPPER......................$ 30.21 10.43+a

Includes the application of materials or devices within
or
around penetrations and openings in all rated wall or
floor
assemblies, in order to prevent the pasage of fire, smoke
of other gases. The application includes all components
involved in creating the rated barrier at perimeter slab
edges and exterior cavities, the head of gypsum board or
concrete walls, joints between rated wall or floor
components, sealing of penetrating items and blank
openings.

a. PAID HOLIDAYS: New Year's Day, Martin Luther King Day,
Memorial Day, Independence Day, Labor Day, Veterans' Day,
Thanksgiving Day,the day after Thanksgiving and Christmas
Day provided the employee works the regular work day
before
and after the paid holiday.

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BRDC0001-002 04/27/2025

Rates Fringes

BRICKLAYER.......................$ 38.80 15.17
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CARP0197-011 05/01/2024

Rates Fringes

CARPENTER, Includes Drywall
Hanging, Form Work, and Soft
Floor Laying-Carpet..............$ 34.41 14.33
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CARP0219-001 05/01/2025

Rates Fringes

MILLWRIGHT.......................$ 39.50 17.32
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CARP0474-006 05/01/2024

Rates Fringes

PILEDRIVERMAN....................$ 36.60 14.47
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* ELEC0026-016 06/02/2025

Rates Fringes

ELECTRICIAN, Includes
Installation of
HVAC/Temperature Controls........$ 59.50 23.06
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ELEC0026-017 09/01/2025

Rates Fringes

ELECTRICAL INSTALLER (Sound
& Communication Systems).........$ 34.16 13.54

SCOPE OF WORK: Includes low voltage construction,
installation, maintenance and removal of teledata
facilities (voice, data and video) including outside
plant,
telephone and data inside wire, interconnect, terminal
equipment, central offices, PABX, fiber optic cable and
equipment, railroad communications, micro waves, VSAT,
bypass, CATV, WAN (Wide area networks), LAN (Local area
networks) and ISDN (Integrated systems digital network).

WORK EXCLUDED: The installation of computer systems in
industrial applications such as assembly lines, robotics
and computer controller manufacturing systems. The
installation of conduit and/or raceways shall be
installed
by Inside Wiremen. On sites where there is no Inside
Wireman employed, the Teledata Technician may install
raceway or conduit not greater than 10 feet. Fire alarm
work is excluded on all new construction sites or
wherever
the fire alarm system is installed in conduit. All HVAC
control work.

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ELEV0010-001 01/01/2025

Rates Fringes

ELEVATOR MECHANIC................$ 57.16 38.435+a+b

a. PAID HOLIDAYS: New Year's Day, Memorial Day,
Independence
Day, Labor Day, Veterans' Day, Thanksgiving Day,
Christmas
Day and the Friday after Thanksgiving.

b. VACATIONS: Employer contributes 8% of basic hourly
rate
for 5 years or more of service; 6% of basic hourly rate
for
6 months to 5 years of service as vacation pay credit.

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IRON0005-005 06/01/2024

Rates Fringes

IRONWORKER, STRUCTURAL AND
ORNAMENTAL.......................$ 37.86 25.86
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IRON0005-012 05/01/2024

Rates Fringes

IRONWORKER, REINFORCING..........$ 31.88 23.78
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LABO0011-009 06/01/2025

Rates Fringes

LABORER: Skilled................$ 30.47 8.70

FOOTNOTE: Potmen, power tool operator, small machine
operator, signalmen, laser beam operator, waterproofer
(excluding roofing), open caisson, test pit,
underpinning,
pier hole and ditches, laggers and all work associated
with
lagging that is not expressly stated, strippers, operator
of hand derricks, vibrator operators, pipe layers, or
tile
layers, operators of jackhammers, paving breakers,
spaders
or any machine that does the same general type of work,
carpenter tenders, scaffold builders, operators of
towmasters, scootcretes, buggymobiles and other machines
of
similar character, operators of tampers and rammers and
other machines that do the same general type of work,
whether powered by air, electric or gasoline, builders of
trestle scaffolds over one tier high and sand blasters,
power and chain saw operators used in clearing,
installers
of well points, wagon drill operators, acetylene burners
and licensed powdermen, stake jumper,demolition.

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MARB0002-004 04/27/2025

Rates Fringes

MARBLE/STONE MASON...............$ 45.65 21.21

INCLUDING pointing, caulking and cleaning of All types of
masonry, brick, stone and cement EXCEPT pointing,
caulking,
cleaning of existing masonry, brick, stone and cement
(restoration work)

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MARB0003-006 04/27/2025

Rates Fringes

TERRAZZO WORKER/SETTER...........$ 34.34 14.20
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MARB0003-007 04/27/2025

Rates Fringes

TERRAZZO FINISHER................$ 28.85 12.55
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MARB0003-008 04/27/2025

Rates Fringes

TILE SETTER......................$ 34.34 14.20
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MARB0003-009 04/27/2025

Rates Fringes

TILE FINISHER....................$ 28.85 12.55
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PAIN0051-014 06/01/2025

Rates Fringes

GLAZIER
Glazing Contracts $2
million and under...........$ 32.41 14.46
Glazing Contracts over $2
million.....................$ 36.65 14.46
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PAIN0051-015 06/01/2025

Rates Fringes

PAINTER
Brush, Roller, Spray and
Drywall Finisher............$ 29.16 11.86
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PLAS0891-005 07/01/2025

Rates Fringes

PLASTERER (Including
Fireproofing)....................$ 32.86 10.46
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PLAS0891-006 03/01/2025

Rates Fringes

CEMENT MASON/CONCRETE FINISHER...$ 30.50 14.23
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PLUM0005-010 08/01/2025

Rates Fringes

PLUMBER..........................$ 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.

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PLUM0602-008 08/01/2025

Rates Fringes

PIPEFITTER, Includes HVAC
Pipe Installation................$ 55.00 24.46+a

a. PAID HOLIDAYS: New Year's Day, Martin Luther King's
Birthday, Memorial Day, Independence Day, Labor Day,
Veterans' Day, Thanksgiving Day and the day after
Thanksgiving and Christmas Day.

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ROOF0030-016 07/01/2025

Rates Fringes

ROOFER...........................$ 36.26 14.91
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SFDC0669-002 01/01/2026

Rates Fringes

SPRINKLER FITTER (Fire
Sprinklers)......................$ 45.22 27.69
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SHEE0100-015 11/01/2025

Rates Fringes

SHEET METAL WORKER (Including
HVAC Duct Installation)..........$ 53.42 23.20+a

a. PAID HOLIDAYS: New Year's Day, Martin Luther King's
Birthday, Memorial Day, Independence Day, Labor Day,
Veterans Day, Thanksgiving Day and Christmas Day

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SUDC2009-003 05/19/2009

Rates Fringes

LABORER: Common or General......$ 13.04 2.80

LABORER: Mason Tender -
Cement/Concrete..................$ 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.................$ 11.67

POINTER, CAULKER, CLEANER,
Includes pointing, caulking,
cleaning of existing masonry,
brick, stone and cement
structures (restoration
work); excludes pointing,
caulking, cleaning of new or
replacement
masonry, brick, stone or
cement...........................$ 18.88
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WELDERS - Receive rate prescribed for craft performing
operation to which welding is incidental.

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=====

Note: Executive Order (EO) 13706, Establishing Paid Sick
Leave
for Federal Contractors applies to all contracts subject to
the
Davis-Bacon Act for which the contract is awarded (and any
solicitation was issued) on or after January 1, 2017. If
this
contract is covered by the EO, the contractor must 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-related needs,
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-related needs, including preventive care; or for
reasons
resulting 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 contractor requirements and worker protections under the
EO
is available at
https://www.dol.gov/agencies/whd/government-contracts.

Note: Executive Order 13658 generally applies to contracts
subject to the Davis-Bacon Act that were awarded on or
between
January 1, 2015 and January 29, 2022, and that have not
been
renewed or extended on or after January 30, 2022. Executive
Order 13658 does not apply to contracts subject only to the
Davis-Bacon Related Acts regardless of when they were
awarded.
If a contract is subject to Executive Order 13658, the
contractor must pay all covered workers at least $13.30 per
hour (or the applicable wage rate listed on this wage
determination, if it is higher) for all hours spent
performing
on the contract in 2025. The applicable Executive Order
minimum wage rate will be adjusted annually. Additional
information on contractor requirements and worker
protections
under Executive Order 13658 is available at
www.dol.gov/whd/govcontracts.

Unlisted classifications needed for work not included
within
the scope of the classifications listed may be added after
award only as provided in the labor standards contract
clauses
(29CFR 5.5 (a) (1) (iii)).

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The body of each wage determination lists the
classifications
and wage rates that have been found to be prevailing for
the
type(s) of construction and geographic area covered by the
wage
determination. The classifications are listed in
alphabetical
order under rate identifiers indicating whether the
particular
rate is a union rate (current union negotiated rate), a
survey
rate, a weighted union average rate, a state adopted rate,
or a
supplemental classification rate.

Union Rate Identifiers

A four-letter identifier beginning with characters other
than
""SU"", ""UAVG"", ?SA?, or ?SC? denotes that a union rate
was
prevailing for that classification in the survey. Example:
PLUM0198-005 07/01/2024. PLUM is an identifier of the union
whose collectively bargained rate prevailed in the survey
for
this classification, which in this example would be
Plumbers.
0198 indicates the local union number or district council
number where applicable, i.e., Plumbers Local 0198. The
next
number, 005 in the example, is an internal number used in
processing the wage determination. The date, 07/01/2024 in
the
example, is the effective date of the most current
negotiated
rate.

Union prevailing wage rates are updated to reflect all
changes
over time that are reported to WHD in the rates
in the collective bargaining agreement (CBA) governing the
classification.

Union Average Rate Identifiers

The UAVG identifier indicates that no single rate prevailed
for
those 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 producing the wage determination. The date,
01/01/2024
in the example, indicates the date the wage determination
was
updated to reflect the most current union average rate.

A UAVG rate will be updated once a year, usually in
January, to
reflect a weighted average of the current rates in the
collective bargaining agreements on which the rate is
based.

Survey Rate Identifiers

The ""SU"" identifier indicates that either a single non-
union
rate prevailed (as defined in 29 CFR 1.2) for this
classification in the survey or that the rate was derived
by
computing a weighted average rate based on all the rates
reported in the survey for that classification. As a
weighted
average rate includes all rates reported in the survey, it
may
include both union and non-union rates. Example: SUFL2022-
007
6/27/2024. SU indicates the rate is a single non-union
prevailing rate or a weighted average of survey data for
that
classification. FL indicates the State of Florida. 2022 is
the
year of the survey on which these classifications and rates
are
based. The next number, 007 in the example, is an internal
number used in producing the wage determination. The date,
6/27/2024 in the example, indicates the survey completion
date
for the classifications and rates under that identifier.

?SU? wage rates typically remain 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.

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WAGE DETERMINATION APPEALS PROCESS

1) Has there been an initial decision in the matter? This
can
be:

a) a survey underlying a wage determination
b) an existing published wage determination
c) an initial WHD letter setting forth a position on
a wage determination matter
d) an initial conformance (additional classification
and rate) determination

On survey related matters, initial contact, including
requests
for summaries of surveys, should be directed to the WHD
Branch
of Wage Surveys. Requests can be submitted via email to
davisbaconinfo@dol.gov or by mail to:

Branch of Wage Surveys
Wage and Hour Division
U.S. Department of Labor
200 Constitution Avenue, N.W.
Washington, DC 20210

Regarding any other wage determination matter such as
conformance 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 Construction Wage Determinations
Wage and Hour Division
U.S. Department of Labor
200 Constitution Avenue, N.W.
Washington, DC 20210

2) If an initial decision has been issued, then any
interested
party (those affected by the action) that disagrees with
the
decision can request review and reconsideration from the
Wage
and Hour Administrator (See 29 CFR Part 1.8 and 29 CFR Part
7).
Requests for review and reconsideration can be submitted
via
email to dba.reconsideration@dol.gov or by mail to:

Wage and Hour Administrator
U.S. Department of Labor
200 Constitution Avenue, N.W.
Washington, DC 20210

The request should be accompanied by a full statement of
the
interested party's position and any information (wage
payment
data, project description, area practice material, etc.)
that
the requestor considers relevant to the issue.

3) If the decision of the Administrator is not favorable,
an
interested party may appeal directly to the Administrative
Review Board (formerly the Wage Appeals Board). Write to:

Administrative Review Board
U.S. Department of Labor
200 Constitution Avenue, N.W.
Washington, DC 20210.

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END OF GENERAL DECISION"

F-1
EXHIBIT F
SECTION 3 CONTRACT ADDENDUM

During construction of the Project, Borrower will comply with and cause its successors, assigns,
agents, and agents to comply with 24 CFR Part 75. The Section 3 requirement applies to assistance
that exceeds $200,000.00.

All Section 3 covered contracts must include the following clause in its entirety.
Noncompliance with HUD’s regulations in 24 CFR part 75 may result in sanctions,
default under the Loan Documents, and debarment or suspension from HUD-assisted
contracts:

1. The work to be performed under this contract is subject to the requirements of
Section 3 of the Housing and Urban Development Act of 1968, as amended, 12
U.S.C. 1701u (Section 3). The purpose of Section 3 is to ensure that employment
and other economic opportunities generated by HUD assistance or HUD-assisted
project covered by Section 3, shall, to the greatest extent feasible, be directed to
low- and very low- income persons, particularly persons who are recipients of
government assistance for housing or residents of the community in which the
Federal assistance is spent.

2. The parties to this contract agree to comply with HUD’s regulations in 24 CFR
Part 75, which implement Section 3. As evidenced by their execution of this
contract, the parties to this contract certify that they are under no contractual or
other impediment that would prevent them from complying with the part 75
regulations.

3. The contractor agrees to send to each labor organization or representative of
workers with which the contractor has a collective bargaining agreement or other
understanding, if any, a notice advising the labor organization or workers’
representative of the contractor’s commitments under this Section 3 clause and
will post copies of the notice in conspicuous places at the work site where both
employees and applicants for training and employment practices can see the
notice. The notice shall describe the Section 3 preference, shall set forth
minimum number and job titles subject to hire, availability of apprenticeship and
training positions, the qualifications for each; and the name and location of the
person(s) taking applications for each of the positions; and the anticipated date
the work shall begin.

4. The contractor agrees to include this Section 3 clause in every subcontract
subject to compliance with regulations in 24 CFR Part 75, and agrees to take
appropriate action, as provided in an applicable provision of the subcontract or
in this Section 3 clause, upon a finding that the subcontractor is in violation of the

F-2
regulations in 24 CFR part 75. The contractor will not subcontract with any
subcontractor where the contractor has notice or knowledge that the
subcontractor has been found in violation of the regulations in 24 CFR part 75.

5. The contractor will certify that any vacant employment positions, including
training positions, that are filled (1) after the contractor is selected, but before the
contract is executed, and (2) with persons other than those to whom the
regulation of 24 CFR part 75 require employment opportunities to be directed,
were not filled to circumvent the contractor’s obligations under 24 CFR part 75.

G-1
EXHIBIT G
DEVELOPMENT TEAM DEBARMENT AFFIDAVIT
[Attached]
Docuslgn Envelope ID: OEC63A33-B64A_.233-8965-BB826EC 18DBE
riilCUBED ~PARTNERS
TEAM AFFIDAVIT CERTIFICATE
Emmanuel Egoegonwa cubed Partners I,_______ _ ___ of _________ , hereby attest that
all members of the team who are listed below are not listed in the List of Parties. Excluded
from Federal Procurement or Non-Procurement Programs:
Project Name: 950 Eastern Ave
Project Number: TBD '----'--=-----------
CONSTRUCTION TEAM:
Contractor: 950 Eastern Ave TM LLC
Subcontractor: NA ----------
Subcontractor: NA ----------
Subcontractor: NA ----------
I further attest that no principal, major stockholder, officer, or director of the construction
team is debarred from participating in a federal procurement or non-procurement program.
s[~ __ • ___ _
Emmanuel Egoegonwa Name:. ___________ _
Title: Authorized officer
March 10 26 Date: _____ , 20_
State of Di s\ri ct ix (v lL!1lb~c
County of _/{)~Pr __ _
~-.... _ ~Do rt.Jtl 1 hereby certify that on this .1Q!t. day of t<)greh 9-t)'J,6 J wrrnru e L personally
appeared before me and acknowledged he is the Authorized officer of 950 Eastern Ave TM
LLC, and in his capacity as the Authorized officer of 950 Eastern Ave TM LLC, he executed
this certificate as of the date set forth above.
Notary Seal
By:-fJftJ-

H-1
EXHIBIT H
INSURANCE REQUIREMENTS
[Attached]
V36 - 07- 2025

INSURANCE REQUIREMENTS

A. GENERAL REQUIREMENTS. The Developer at its sole expense shall procure and
maintain, during the entire period of performance under this contract, the types of
insurance specified below. The Developer shall submit a Certificate of Insurance to the
Contracting Officer (CO) giving evidence of the required coverage prior to commencing
performance under this contract. In no event shall any work be performed until the
required Certificates of Insurance signed by an authorized representative of the insurer(s)
have been provided to, and accepted by, the CO.

If the Developer and/or its subcontractors maintain broader coverage and/or higher limits
than the minimums shown below, the District requires and shall be entitled to the broader
coverage and/or the higher limits maintained by the Developer and subcontractors.

B. INSURANCE REQUIREMENTS

1. Commercial General Liability Insurance (“CGL”) - The Developer or its Contractors
shall provide evidence satisfactory to the CO with respect to the services performed that
it carries a CGL policy, written on an occurrence (not claims-made) basis, on Insurance
Services Office, Inc. (“ISO”) form CG 00 01 04 13 (or another occurrence-based form
with coverage at least as broad and approved by the CO in writing), covering liability for
all ongoing and completed operations of the Developer and under all subcontracts,
covering claims for bodily injury, including without limitation sickness, disease or death
and mental anguish of any persons, broad form property damage, including loss of use
resulting therefrom, personal and advertising injury, and including coverage for liability
arising out of an Insured Contract (including the tort liability of another assumed in a
contract) and acts of terrorism (whether caused by a foreign or domestic source). Such
coverage shall have limits of liability of not less than $1,000,000 for each occurrence,
$2,000,000 general aggregate, $2,000,000 products and completed operations aggregate,
and $1,000,000 personal and advertising injury aggregate limit.

The Commercial General Liability shall be further endorsed to:
a) To the fullest extent permitted by law, provide additional insured coverage
using ISO form CG 2010 0413 and CG2037 04 13 (or its equivalent) to The
Government of the District of Columbia
b) Coverage available to the additional insureds shall apply on a primary and
non-contributing basis as respects any other insurance, deductibles, or self-
insurance available to the additional insureds
c) A waiver of subrogation in favor of The Government of the District of
Columbia
d) Any Annual Aggregate shall apply on a per location or per project basis
e) Defense costs shall be in addition to and not erode the limits of liability

2. Automobile Liability Insurance - The Developer or its Contractors shall provide evidence
satisfactory to the CO of commercial (business) automobile liability insurance written on
ISO form CA 00 01 10 13 (or another form with coverage at least as broad and approved
by the CO in writing) including coverage for all owned, hired, borrowed and non-owned
V36 - 07- 2025

vehicles and equipment used by the Developer or contractors in connection with work
under this agreement, with a minimum combined single limit of $1,000,000. Such policy
or policies of automobile liability insurance shall be written on an "occurrence" (as
opposed to a "claims made") basis.

The Commercial Auto Liability policy shall be further endorsed to:
a) To the fullest extent permitted by law, provide additional insured coverage to
The Government of the District of Columbia
b) Coverage available to the additional insureds shall apply on a primary and
non-contributing basis as respects any other insurance, deductibles, or self-
insurance available to the additional insureds
c) A waiver of subrogation in favor of The Government of the District of
Columbia
d) Defense costs shall be in addition to and not erode the limits of liability
e) If applicable, include Form CA 99 48 03 06 Pollution Liability - Broadened
Coverage for Covered Autos - Business Auto, Motor Carrier, and Truckers (or
its equivalent)
f) Moving and Storage Companies shall be required to provide evidence of
BMC91 or BMC91X filing

For Developers providing transportation:
Developers or contractors providing transportation must additionally comply with the
following:
a) Operators holding a restricted WMATC Certificate of Authority must have a
single limit of $1.5 million in combined (bodily injury and physical damage)
coverage, or
b) Operators holding an unrestricted WMATC Certificate of Authority must
have a single limit of $5M in combined (bodily injury and physical damage)
coverage.
In addition, both types of WMATC certificate holders must have in place the following
Licensing Requirements as applicable:
a) Commercial Driver’s License (CDL) with the following endorsements:
i) P (Passenger): All drivers MUST have a P endorsement enabling them to
transport passengers (16 or more).
ii) S (School Bus): All drivers operating school buses (flashing lights, swing
arm w/stop sign) must also have an S endorsement. Please note that driver
credentials for any vehicles that are converted school buses must have S.
b) Valid (unexpired) US Department of Transportation Medical Examiner
Certification (“Medical Card”).

For Developers or contractors using District Government-Owned Vehicles:
Agencies that provide Developers or contractors with District Government-owned or
leased motor vehicles are responsible for ensuring that such vehicles are used only for the
performance under this Contract. Developer and its subcontractors are prohibited from
using such vehicles for home-to-work transportation unless specifically provided for
under the terms of the contract and approved in writing by the Contracting Officer, or
otherwise provided by law. Developer or its Contractors shall obtain automobile liability
V36 - 07- 2025

insurance with a minimum combined single limit of $1,000,000 to cover bodily injury
and property damage to protect the Developer and the Government of the District of
Columbia against third-party claims arising from the use of District Government-owned
vehicles. The Commercial Auto Liability Policy shall be endorsed to include:
a) To the fullest extent permitted by law, provide additional insured coverage to
The Government of the District of Columbia;
b) Coverage available to the additional insureds shall apply on a primary and
non-contributing basis as respects any other insurance, deductibles, or self-
insurance available to the additional insureds; and
c) A waiver of subrogation in favor of The Government of the District of
Columbia.
In the event of loss, destruction, or damage to any government-owned vehicles used in
the performance of contact, Developer or its Contractors shall be liable for full cost of
repair or replacement of lost, destroyed, or damaged vehicle.

3. Workers’ Compensation Insurance - The Developer or its Contractors shall provide
evidence satisfactory to the CO of Workers’ Compensation insurance in accordance with
the statutory mandates of the District of Columbia or the jurisdiction in which the
contract is performed.

Employer’s Liability Insurance - The Develope r or its Contractors shall provide evidence
satisfactory to the CO of employer’s liability insurance as follows: $500,000 per accident
for injury; $500,000 per employee for disease; and $500,000 for policy disease limit.

The Workers Compensation and Employers Li ability shall be further endorsed to:
a) Include a Waiver of Subrogation in favor of The Government of the District of
Columbia.
b) Where applicable, include United States Longshore and Harbor Workers
Compensation Act (USL&H)
c) Where applicable, include Jones Act Coverage for seamen or crew members on
an “if any” basis.

4. Cyber (Media Liability and Network Security/Privacy) Liability Insurance covering acts,
errors, omissions, and violation of any consumer protection laws arising out of
Developer’s or its Contractors operations or services with a limit of $2,000,000 per claim
and in the aggregate. Such coverage shall include but not be limited to, third party and
first party coverage for loss or disclosure of any data, including personally identifiable
information and payment card information, network security failure, violation of any
consumer protection laws, unauthorized access and/or use or other intrusions,
infringement of any intellectual property rights (except patent), negligence or breach of
duty to use reasonable care, breach of any duty of confidentiality, invasion of privacy, or
violations of any other legal protections for personal information, defamation, libel,
slander, commercial disparagement, negligent transmission of computer virus, or use of
computer networks in connection with denial of service attacks. Such coverage shall
include regulatory defense and fines/penalties in any jurisdiction anywhere in the world.
Such coverage shall include contractual privacy coverage for data breach response and
crisis management costs that would be incurred by Developer or its Contractors on behalf
V36 - 07- 2025

of The Government of the District of Columbia in the event of a data breach including
legal and forensic expenses, notification costs, credit monitoring costs, and costs to
operate a call center. Developer or its Contractors shall maintain coverage in force during
the term of this Agreement and for an extended reporting period of not less than two (2)
years after.

5. Professional Liability Insurance (Errors & Omissions) - The Developer or its Contractors
shall provide Professional Liability Insurance (Errors and Omissions) to cover liability
resulting from any error or omission in the performance of professional services under
this Contract. The policy shall provide limits of $1,000,000 per claim or per occurrence
for each wrongful act and $2,000,000 annual aggregate. The Developer or its Contractors
warrants that any applicable retroactive date precedes the date the Developer or its
Contractors first performed any professional services for the Government of the District
of Columbia and that continuous coverage will be maintained or an extended reporting
period will be exercised for a period of at least ten years after the completion of the
professional services. Limits may not be shared with other lines of coverage.

6. Commercial Umbrella or Excess Liability - The Developer or its Contractors shall provide
evidence satisfactory to the CO of commercial umbrella with minimum limits of $10,000,000 per
occurrence and $10,000,000 in the annual aggregate. Coverage must excess of required
commercial general liability, commercial auto lia bility, and employers’ liability. The insurance
required under this paragraph shall be written in a form that annually reinstates all required limits.
Coverage shall be primary to any insurance, self-insurance or reinsurance maintained by The
Government of the District of Columbia and the “other insurance” provision must be amended in
accordance with this requirement and principles of vertical exhaustion.

7. Crime Insurance (3rd Party Indemnity) - The Developer or its Contractors shall provide a
Crime policy including 3rd party fidelity to cover the dishonest acts of Contractors, its
employees and/or volunteers which result in a loss to the District. The Government of the
District of Columbia shall be included as loss payee. The policy shall provide a limit of
$50,000 per occurrence.

8. Environmental Liability/Contractors Pollution Liability Insurance - The Developer or its
Contractors shall provide evidence satisfactory to the CO of environmental liability
insurance covering losses caused by pollution or other hazardous conditions arising from
ongoing or completed operations of the Developer or its Contractors. Such insurance
shall apply to bodily injury, property damage (including loss of use of damaged property
or of property that has been physically injured), clean-up costs, transit and non-owned
disposal sites. Coverage shall extend to defense costs and expenses incurred in the
investigation, civil fines, penalties and damages or settlements. There shall be neither an
exclusion nor a sublimit for mold or fungus-related claims, legionella, asbestos, lead paint,
or silica. The minimum limits required under this paragraph shall be $2,000,000 per
occurrence and $2,000,000 in the annual aggregate. If such coverage is written on a
claims-made basis, the Developer or its Contractors warrants that any retroactive date
applicable to coverages under the policy precedes the Developer or its Contractors’
performance of any work under the Contract and that continuous completed operations
coverage will be maintained for at least ten (10) years or an extended reporting period
shall be purchased for no less than ten (10) years after completion.
V36 - 07- 2025

The Developer or its Contractors also must furnish to the CO Owner certificates of
insurance evidencing environmental liability insurance maintained by third party
transportation and disposal site operators(s) used by the Developer for losses arising from
facility(ies) accepting, storing or disposing hazardous materials or other waste as a result
of the Developer or contractors’ operations. Such coverages must be maintained with
limits of at least the amounts set forth above.

The Environmental Liability policy shall be further endorsed to include The Government
of the District of Columbia as an Additional Insured.

9. Installation-Floater Insurance - For projects not involving structural alterations, the
Developer or its Contractors shall provide an installation floater policy with a limit equal
to the Property values being installed as part of the project. The policy shall cover
property while located at the project site, at temporary locations, or in transit; deductibles
will be the sole responsibility of the Developer.

10. Riggers Liability – If and to the extent Developer or its Contractors’ services or scope of
Work call for, require, or involve the lifting, picking, rigging and setting of others
property, materials or equipment, Developer or its Contractors shall procure, maintain
and pay for Riggers Liability Insurance to insure against physical loss of or damage in
amounts sufficient to insure the full market value and / or replacement costs of the
property, materials or equipment being lifted, with a minimum liability limit of
$5,000,000. In addition to replacing any property, materials or equipment damaged
through Developer or its Contractors’ work involving the lifting, picking, rigging and or
setting, Developers or its Contractors shall also be responsible for all consequential loss
of use, and delay damages involved in replacing and / or repairing the damaged property,
materials, or equipment. Failure to carry appropriate insurance and / or failure to carry
adequate limits shall not relieve Developer or its Contractors from its indemnity and
contractual obligations herein.

Construction Projects for Developer Provided Builder’s Risk
Builders Risk – The Developer or its Contractors shall purchase and maintain builders
risk insurance at 100% replacement cost upon the entire Work at the site and portions of
the Work stored off the site with the Developer’s approval, and contingent transit
coverage for portions of the Work in transit. This insurance shall include the interests of
the District, the Developer and the Subcontractors in the Work and shall insure against all
risk of physical damage subject to standard exclusions. Losses not covered by the
Developer's insurance shall be borne pursuant to the provisions of the Contract. The
builders risk policy will have a deductible of not more than $25,000. Losses within the
deductible will be paid by the Developer or the responsible Subcontractor. If not covered
under the builder’s risk insurance or otherwise provided in the Contract Documents, the
Developer shall effect and maintain similar property insurance on portions of the Work
stored off the site or in transit

C. SUBCONTRACTOR INSURANCE REQUIREMENTS
V36 - 07- 2025

Any and all subcontractors engaged by Developer for work under this agreement shall be
required to have the same insured required of Contractor. Should the Developer wish to
propose different insurance requirements for the subcontractor than the ones outlined in
the Contract, then, prior to commencement of work by the subcontractor, the Developer
shall submit in writing the name and brief description of work to be performed by the
subcontractor to the CO. The CO will promptly provide in writing to the Contractor with
a decision regarding the insurance requirements applicable to the subcontractor. When
requested by the CO, the Developer must provide proof of the subcontractor's required
insurance prior to commencement of work by the subcontractor.

D. PRIMARY AND NONCONTRIBUTORY INSURANCE
The insurance required herein shall be primary to and will not seek contribution from any
other insurance, reinsurance or self-insur ance including any deductible or retention,
maintained by the Government of the District of Columbia.

E. DURATION. The Developer shall carry all required insurance until all contract work is
accepted by The Government of the District of Columbia and shall carry listed coverages
for ten years for construction projects following final acceptance of the work performed
under this contract and two years for non-construction related contracts.

F. LIABILITY. These are the required minimum insurance requirements established by
The Government of the District of Columbia. However, it is understood that The
Government of the District of Columbia does not in any way represent that the insurance
or the limits of insurance specified herein are sufficient or adequate to protect your
interests or liabilities and will not in any way limit the Developer’s liability under this
contract.

G. DEVELOPER’S PROPERTY. Developer and subcontractors are solely responsible for
any loss or damage to their personal property, including but not limited to tools and
equipment, scaffolding, and temporary structures, rented machinery, or owned and leased
equipment. A waiver of subrogation shall apply in favor of The Government of the
District of Columbia.

H. MEASURE OF PAYMENT. The Government of the District of Columbia shall not
make any separate measure or payment for the cost of insurance and bonds. The
Developer shall include all the costs of insurance and bonds in the contract price.

I. NOTIFICATION. The Developer shall ensure that all policies provide that the CO shall
be given thirty (30) days prior written notice in the event of cancellation, non-renewal, or
material changes to the extent such cancellation or material changes results in Developer
no long complying with the above requirements. The Developer shall provide the CO
with ten (10) days’ prior written notice in the event of non-payment of premium. The
Developer will also provide the CO with an updated Certificate of Insurance should its
insurance coverages renew during the contract. The Government of the District of
Columbia may reasonably change the above insurance coverage requirements during the
Term by giving Developer at least 30 days’ notice of the change. Developer must
V36 - 07- 2025

comply, at your expense, and deliver to the CO evidence of compliance before the change
becomes effective.

J. CERTIFICATES OF INSURANCE. The Developer must send to CO, at least 10 days
after execution of this Agreement, certificates of insurance evidencing the required
insurance coverage and endorsements required herein. Developer must also provide us
with evidence of renewal before the expiration date of each insurance policy. Developer
is responsible for providing us with 30 days advanced written notice if the certificate of
insurance by the insurer has been canceled, reduced in coverage, or otherwise altered.
Certificates of insurance must reference the corresponding contract number. Evidence of
insurance shall be submitted to:

The Government of the District of Columbia

And mailed to the attention of:
DHCD Portfolio and Asset Management Division
1909 Martin Luther King, Jr. Ave
Washington, DC 20019
202-442-7261

The CO may request, and the Developer shal l promptly deliver updated certificates of
insurance, endorsements indicating the required coverages, and/or certified copies of the
insurance policies. If the insurance initially obtained by the Developer expires prior to
completion of the contract, renewal certificates of insurance and additional insured and
other endorsements shall be furnished to the CO prior to the date of expiration of all such
initial insurance. For all coverage required to be maintained after completion, an
additional certificate of insurance evidencing such coverage shall be submitted to the CO
on an annual basis as the coverage is renewed (or replaced).

K. DISCLOSURE OF INFORMATION. The Developer agrees that The Government of the
District of Columbia may disclose the name and contact information of its insurers to any
third party which presents a claim against The Government of the District of Columbia
for any damages or claims resulting from or arising out of work performed by the
Developer, its agents, employees, servants or subcontractors in the performance of this
contract.

L. CARRIER RATINGS. All Developer’s and its subcontractors’ insurance required in
connection with this contract shall be written by insurance companies with an A.M. Best
Insurance Guide rating of at least A- VII or better (or the equivalent by any other rating
agency) and licensed in the District of Columbia.

M. WARRANTIES. When applicable, the Developer should be named as an additional
insured on the applicable manufacturer’s/distributer’s Commercial General Liability
policy using Insurance Services Office, Inc. (“ISO”) form CG 20 15 04 13 (or another
occurrence-based form with coverage at least as broad). CO should collect, review for
accuracy, and maintain all warranties for goods and services.

J-1
EXHIBIT I
CERTIFICATION OF BORROWER’S REPRESENTATIONS AND WARRANTIES

[Attached]

DMEAST #43991636 v8
Certification of Borrower’s Representations and Warranties

Borrower hereby certifies to Lender that:

(a) The amounts requested were made, incurred or financed and were necessary for the
Project and were made or incurred in accordance with the Construction Draw Schedule heretofore
in effect or pursuant to a Change Order that has been approved in accordance with the Loan
Agreement and with usual and customary practice under existing conditions.
(b) The amounts requested are not greater than those necessary to meet obligations due
and payable or to reimburse the Borrower for its funds actually advanced for cost s of the Project,
if applicable.
(c) No amount for which disbursement is sought formed the basis for any prior
disbursement and no disbursement is sought for any items representing payment on account of any
percentage entitled to be retained at the date of this Payment Request.
(d) The amounts remaining to be disbursed from the Loan, [the Senior Loan,
Subordinate Loan(s), and tax credit equity] [Borrower to update as applicable] prior to the Final
Disbursement, will be sufficient to pay the costs of completing the Project as and when due and
payable.
(e) Borrower acknowledges that except as expressly set forth in the Loan Agreement,
no party shall have any duty or obligation to verify the validity, sufficiency or genuineness of any
document submitted or confirm or establish the authority or identity of the person sending this
request, and may rely upon the validity of any document and the authority and identity of any such
person if Lender complies with the applicable loan agreement. Lender shall not be responsible for
errors or omissions made by the Borrower or the duplication of any communication by the
Borrower and may act on any communication by reference to an account number only, even if an
account name is provided. Borrower shall be notified if a communication is not acted upon for any
reason.
(f) There is no current or existing Event of Default pursuant to the terms of any of the
Loan Documents, and no event exists which by notice or passage of time or both would constitute
an Event of Default under any of the foregoing documents.
(g) No representation or warranty of the Borrower contained in any of the Loan
Documents is incorrect or inaccurate in any material respect.
(h) Except for Permitted Encumbrances (as defined in the Deed of Trust) and those
otherwise permitted or provided for by the Loan Documents, there has been received no notice (i)
of any lien, right to lien or attachment upon, or claim affecting the right of the payee to receive
payment of, any of the moneys payable under such Payment Request to any of the persons, firms
or corporations named therein, and (ii) that any materials, supplies or equipment covered by such
Payment Request are subject to any lien or security interest, or if any notice of any such lien,
attachment, claim or security interest has been received, such lien, attachment, claim or security
DMEAST #43991636 v8 2
interest has been released, discharged, insured or bonded over or will be released, discharged,
insured or bonded over upon payment of this Payment Request.
(i) All conditions precedent for disbursement as set forth in Section 4.5 [and Section
4.7 for Fi nal Disbursement requests] of the Loan Agreement are satisfied, including without
limitation delivery to Lender of any waivers and lien releases required by Section 4.5.5 of the Loan
Agreement.
(j) This statement and all exhibits hereto, shall be conclusive evidence of the facts and
statements set forth herein and shall constitute full warrant, protection and authority to Lender for
its actions taken pursuant hereto.
(k) Attached to this Payment Request are copies of invoices or bills of sale covering all
items for which payment is being requested.
(l) All capitalized terms that are not defined within this Certificatio n shall have the
meaning set forth in the Loan Agreement.

OWNER:

950 Eastern Ave TM L.L.C.
a District of Columbia limited liability company

By: 950 Eastern Ave TM MM L.L.C.,
a District of Columbia limited liability
company, its managing member

By: UPO 950 Eastern Ave LLC,
a District of Columbia limited liability
company, its managing member

By: UPO Community Development Corporation,
a District of Columbia non- profit
corporation, its sole member

By: _______________________
Name: Stanley J. Mayes

J-2
EXHIBIT J
FORM OF FINAL LOAN
REDUCTION CERTIFICATE
[Attached]
A.
B.
(1)
(2)
(3)
-$
(4) For an Excess Proceeds totaling the following: -$
-$
The Lender Retainage that remains undisbursed equals:
-$
-$
BORROWER:
_________________________________
By: ______________________________
_________________________________
By: ______________________________
Authorized Signatory
EXHIBIT J
LOAN REDUCTION CERTIFICATE
In accordance with applicable Program Requirements and pursuant to the terms of the Agreement, dated Loan Agreement Date,
by and between the District of Columbia, a municipal corporation, acting by and through the D.C. Department of Housing and
Community Development ("Lender") and 950 Eastern Ave TM, LLC (“Borrower”):
950 Eastern Ave TM LLC, a District of Columbia limited
liability company
Lender made a loan to the Borrower in a total principal amount not to exceed Twenty-Two Million Three Hundread
and Thirty-Seven Thousand Four Hundred and Eighty-Two 00/100 ($22,337,482) (the “Loan”), the proceeds of
which were to be used by the Borrower to help finance the production/preservation of 56 affordable rental housing
units at 950 Eastern Avenure, NE; Washington, DC (the "Project", also known as "950 Eastern Avenue"); and
On or prior to the ninetieth (90th) day after the Borrower recieves the United States Department of the Treasury
Internal Revenue Service Low-Income Housing Credit Allocation and Certification (Form 8609), the Borrower is
required to provide the Lender with a Loan Reduction Certificate, prepared and executed by the Borrower, certifying
the net amount of the Excess Proceeds available from the Project that will be due to the Lender ("Final Loan Reduction
Calculation"), pursuant to Section 1(f) of the Agreement.
For the purposes of this Loan Reduction Certificate, the term “Excess Proceeds” means:
The sum of all funds that were used for a temporary purpose to the extent that such
funds are or will be subsequently returned to Borrower (the “Returned Funds” as
more particularly described and defined in Section 1(f)b.i. of the Agreement),
PLUS the net reduction in total costs shown in the Project Budget due to unspent
contingency funds, unspent short-term reserves or other budget savings (the “Cost
Savings" as defined in Section 1(f)b.ii. of the Agreement),
PLUS any increase in funding that is committed to the Project after the Closing Date
over and above the funding sources shown on the Project Budget (the "Increased
Sources" as more particularly described and defined in Section 1(f)b.iii. of the
Agreement),
The Final Loan Reduction Calculation due to the Lender equals the sum of 100% of the Returned
Funds, 50% of the Cost Savings, and 50% of the Increased Sources, for a total of:
The amount of the Final Loan Reduction Calculation payable to Lender after subtracting remaining
Lender Retainage, if applicable and approved, per Section 1(f) of the Agreement, is as follows:
The Preliminary Loan Reduction Calculation shall be prepared and updated pursuant to Section 1(f) of the Agreement.
Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Agreement.
The undersigned hereby (i) certifies that the Borrower has examined the information included in this Loan Reduction Certificate
and, to the best of the undersigned’s knowledge, it is true, correct and complete, and (ii) submits this Loan Reduction Certificate
to the Lender in order to comply with the terms of the Agreement.
Executed this day of , 2026.
The amount of the Lender Retainage that can be disbursed equals:

K-1
EXHIBIT K
FORM OF NET CASH FLOW
CALCULATION WORKSHEET

[Attached]
DC DHCD - Surplus Cash, Net Cash Flow and Loan Repayment Analysis
[Items in blue and highlighted in yellow are to be completed; Items in black are formula]
[Please use 2019 HUD Chart of Accounts as a reference: https://www.hud.gov/sites/documents/43703C6HSGH.PDF ]
Borrower:
Project Name:
Account Number:
Date of Audit:
Auditor:
# of Units:
SURPLUS CASH
Current Assets Notes:
Cash
Tenant Subsidy due for the Period Covered by
the Financial Statements -
Tenant Security Deposits
Other Current Asset:
Other Current Asset:
Other Current Asset:
Other Current Asset:
Other Current Asset:-
Total Current Assets -$
Current Obligations
Accrued Mortgage Interest -$
Delinquent Mortgage Principal Payments -
Accounts Payable - Trade (due within 30 days) -
Scheduled Payments and Deposits -
Deficient tax. Insurance, or MIP Escrow Deposits -
Accrued Expenses (Not Escrow) -
Prepaid Rents -
Tenant Security Deposits Liability -
Other Current Obligation: -
Other Current Obligation: -
Other Current Obligation: -
Other Current Obligation: -
Other Current Obligation: -
Total Current Obligations -$
-$
-$
-
-
-
-
-
Surplus Cash Available for Distribution
Net Cash Flow Waterfall per Loan Agreement & Deed of Trust Note
Current years Asset Management Fee
Accrued Management Fee
Credit Adjuster Payment or Credit Shortfall Payment
Taxes on income to Equity Investor
Additional funding to Operating and Debt Service Reserves
Partnership Management Fee
Deferred Developer's Fee (Principal and Accrued Interest) -
Other: -
Other: -
Other: -
Other: -
Balance -$
DC DHCD Loan Repayment $0 Cash Flow Percentage 0%
Balance $0

RIDER 1
LOW-INCOME HOUSING TAX CREDIT PROVISIONS
This LOW-INCOME HOUSING TAX CREDITS PROVISIONS RIDER (this “LIHTC Rider”)
is attached to and amends the Loan Agreement by and between by 950 EASTERN AVE TM LLC
a District of Columbia limited liability company (“Borrower”) and the DISTRICT OF
COLUMBIA, a municipal corporation, acting by and through the Department of Housing and
Community Development (“Lender”), dated as of the _________ (the “Loan Agreement”).

To the extent any provisions of this LIHTC Rider conflict with any provisions in the body of the
Loan Agreement, the provisions of this LIHTC Rider shall prevail. Any terms in the body of the
Loan Agreement not in conflict with the provisions of this LIHTC Rider remain in full force and
effect. Any capitalized terms not defined in this LIHTC Rider shall have the meaning given in the
body of the Loan Agreement.

Notwithstanding anything else in the Loan Agreement to which this LIHTC Rider is attached:

1. DEFINITIONS. The following term shall be added to the Loan Agreement:

(a) “Equity Investor” means PNC BANK, NATIONAL ASSOCIATION, a national banking
association, and its successor or assignees.

2. NOTICE.

Lender agrees that, as long as Equity Investor is a member or partner of Borrower, Lender shall
endeavor as a courtesy to Equity Investor to deliver to Equity Investor a copy of any notice of
default that is delivered to Borrower. Equity Investor’s address for such notice purposes is:

PNC Bank, National Association
Fox Tower
805 SW Broadway, Suite 2200
Portland, Oregon 97205-3339

With a copy to:

Kutak Rock LLP
1650 Farnam Street
Omaha, NE 68102
Attn: Michelle M. Douglas

Equity Investor may change the address to which notices intended for it are to be directed by means
of written notice given to Lender.

3. OPPORTUNITY TO CURE.

Any cure of any default by Borrower offered by Equity Investor shall be treated the same as if
offered by Borrower.