14-20 Cedar Glen Bond Ordinance Addendums

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any such transfer (i) the Limited Partner and/or the Affiliated Replacement ILP have paid all of the Limited Partner's Equity in accordance with the Partnership Agreement, and (ii) the Unrestricted Replacement ILP has assumed in writing all of the Limited Partner's obligations under the Partnership Agreement and MBI has been provided a copy of such written assumption. An amendment to the Partnership Agreement to effectuate a Limited Permitted Transfer shall not require the consent of MBI and shall not constitute a Prohibited Transfer. "Project" shall mean collectively the Real Estate, Improvements and Personal Property. "Property Manager" shall mean , in its capacity as management and rental agent for the Project. "Qualified Basis" shall mean the amount of the "eligible basis" (as defined in Section 42 of the Code) in the Project attributable to the units in the Project occupied by Tenants meeting the income limitations of the Minimum Set-Aside Test and whose rental payments are limited by the provisions of the Rent Restriction Test. "Qualified Investments" means any of the following investments which mature (or are redeemable at the option of MBI) at such time or times as to enable disbursements to be made from the fund in which such investment is held in accordance with the applicable terms: (a) Direct obligations of the United States of America, including the Initial Investment, or obligations the full and prompt payment of which is secured by the pledge of the full faith and credit of the United States of America, provided that the obligation has an interest accrual period and interest payment dates that provide for timely payments in amounts sufficient to meet the payment obligations under this Agreement; (b) Non-callable, non-prepayable obligations of the following federal government agencies: Federal Home Loan Bank,Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Tennessee Valley Authority, Farm Credit System, Washington Metropolitan Area Transit Authority, United States Import-Export Bank, United States Department of Housing and Urban Development, Farmers Home Administration, General Services Administration and United States Maritime Administration, provided the entity maintains a rating of"Aaa" from a rating agency and provided, further, that the obligation has an interest accrual period and interest payment dates that provide for timely payments in amounts sufficient to meet the payment obligations under this Agreement; (c) Obligations of any state or any political subdivision of any state, which are rated in the highest category for long-term debt by the rating agency,the interest on which is excluded from gross income for federal income tax purposes and the full and timely payment of the principal of and any premium and the interest on which is fully and unconditionally payable from obligations of the character described in(a)or(b)above,provided that the obligation has an interest accrual period and interest payment dates that provide for timely payments in amounts sufficient to meet the payment obligations under this Agreement; and (d) (1) the following money market funds, so long as they invest solely in direct obligations issued by the U.S. Treasury or repurchase agreements backed by those obligations: First American U.S. Treasury Money Market Fund; Wells Fargo Advantage 100% Treasury Money Market Funds; Federated U.S. Treasury Cash Reserves (Fund 125); and Federated Treasury Obligations Fund(Fund 68); or(2) in the event those funds cease to exist or no longer have a rating of the highest category (without regard to gradation within a category) by the Rating Page 10