14-20 Cedar Glen Bond Ordinance Addendums

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Section 1.2 Accounting Terms and Determinations. All accounting calculations and reports shall be prepared, and all accounting terms shall be construed, in accordance with generally accepted accounting principles for financial accounting purposes, as in effect from time to time, unless otherwise hereinafter specified. Section 1.3 Uniform Commercial Code Terms. To the fullest extent reasonably possible, all terms defined herein shall be construed to be complementary with any of the meanings set forth and ascribed to such terms in the Uniform Commercial Code as from time to time adopted in the State(s) in which the Project is located and, if different, in which Borrower is organized. Section 1.4 Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words "include", "includes" and "including" shall be deemed to be followed by the phrase "without limitation". The word "will" shall be construed to have the same meaning and effect as the word "shall". Unless the context requires otherwise (a)any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time modified, amended or restated (subject to any restrictions on such modifications set forth herein), (b)any reference herein to any person or entity shall be construed to include such person's or entities successors and assigns, (c)the words "herein", "hereof' and"hereunder", and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d)all references herein to Paragraphs, Articles, Sections, and Exhibits shall be construed to refer to Paragraphs, Articles and Sections of, and Exhibits to, this Agreement, (e)the words "asset" and "property" shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights and (f)whenever this Agreement provides that any consent or approval will not be "unreasonably withheld" or words of like import, the same shall be deemed to include within its meaning that such consent or approval will not be unreasonably delayed or conditioned. Section 1.5 Exhibits. The Exhibits attached to this Agreement are by reference made a part of this Agreement. ARTICLE H. AUTHORIZATION,ISSUANCE,EXECUTION AND PURCHASE OF BONDS Section 2.1 Authorized Amount of Bonds. No Bonds may be issued under the provisions of this Agreement except in accordance with this Article. The principal amount of the Bonds (other than Bonds issued in substitution therefor pursuant to Section 2.8 hereof) that may be issued is hereby expressly limited to$3,081,732.00. Section 2.2 Issuance and Purchase of Bonds. The Bonds shall be designated "City of South Bend, Indiana, Multifamily Housing Revenue Bonds, Series 2020B (Cedar Glen Apartments Project)." The Bonds shall be originally issuable in fully registered form without coupons in denominations of $100,000 and any $1 integral multiples in excess thereof and shall be lettered and numbered BR-1 and upward. Interest on any Bonds shall be paid to the owners of such Bonds (determined as of the close of business of the Record Date next preceding each Interest Payment Date) at the registered addresses of such owners as they shall appear on the registration books of the Issuer notwithstanding the cancellation of any such Bonds upon any exchange or transfer thereof subsequent to the Record Date and prior to such Interest Payment Date, except that, if and to the extent that there shall be a default in the payment of the interest due on such Interest Payment Date, such defaulted interest shall be paid to the owners in whose name any such Bonds (or any Bond issued upon transfer or exchange thereof) are registered at the close Page 13