Authorizing Issurance and Sale $6,500,000 Multi Family Housing Revenue Bonds Maple Lane Associates Phase VIII

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Loan A reement. In order to provide for Section 7. 9 the loan of -the proceeds of the Bonds to acquire, construct and install the Project and the payment by the Borrower of an amount sufficient to pay the principal of and premium, if any, and interest on the Bonder inethe nameaandConYbehalf of Issuer acknowledge and deli Loan Agreement in substantially the form submitted to this Common Council, which is hereby approved in all respects. Section 8. Regulatory Agreement. In order to reserve 20% of the -units in the Project f ° the °Internal Tenants Code of required by Section 103(b)(12)(C) 1954, as amended, the in the r name and City on behalf ofathe Issuer ea acknowledge and de liver Regulatory Agent in substantially the form submitted to this Common Council, which is approved in all respects. Section 9. Acceptance of Note. In connection with the such onds te Noe of Bonds, the Issuer accepts as shall rbey in r substantiallyh the t form the Borrower. The e attached as Exhibit B the.Loan The Mayor and City Clerk shall endorse t he Note Section 10. Additional Approval. The forms of the anthe As nm atn d Leases be this Mortgage d signed by P ries other thanthe Issuerin meeting, to be connection with the issuance of the Bonds and the with security therefor, are hereby approved in form and content, changes and revisions as may be necessary and agreed upon by the parties thereto. Section 11. Execution. The Common Council understands the that there may be v too the actual forms issuance documents of the Bonds• Common Council prior Y Execution and sealing by Mayor and the City Clerk of the Bonds, he Indentur, the Bond Purchase e en , t endorsement• byt theL Mayor a d •the the Regulatory Agreement constite conclusive evide of City Clerk of the e Mote shall 11 changes utor revisions therein from their approval o Y and the forms of such documents before this meeting. Section 12. TEFRA Hearing. The Issuer hereby approves and confirms and consents to the location and time of the public to be held on November 30 , 1984 (and the published notice with respect th hearing b ereto) y the Economic Development Commission, such hearing Codebeing ofheld 1954to The comply Mayortissauthorized(to of the Internal Revenue approve this Bond Ordinance after such public hearing. Section 13. General. The Mayor and the City Clerk and other officials and emp n °the name and on each Issuer, authorized and directed,