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(ii) "Gross Revenue" with respect to a particular fiscal year shall mean all revenue, income, receipts, and other consideration actually received from operation and leasing of the Project. Gross Revenue shall include, but not be limited to: all rents, fees and charges paid by tenants, Section 8 payments or other rental subsidy payments received for the dwelling units, deposits forfeited by tenants, net proceeds from vending and laundry room machines; the proceeds of business interruption or similar insurance and not paid to senior lenders; the proceeds of casualty insurance not used to rebuild or repair the Project and not paid to Senior Lenders; and condemnation awards for a taking of part or all of the Project for a temporary period not paid to senior lenders. Gross Revenue shall not include tenants' security deposits, loan proceeds, capital contributions or similar advances. (iii) "HELP Loan Payment" shall mean the annual amount owed on the Loan. The HELP Loan Payment is equal to the lesser of: (1) One Hundred Seventy -Five Thousand Eight Hundred Forty -Six Dollars ($175,846) which is an amount equal to the applicable year's fully amortized payment of principal and interest as amortized over a ten (10) year period (the "Yearly Payments ") (2) Seventy -Five Percent (75 %) of the Surplus Cash remaining after payments have been made pursuant to Section 2.3(b)(i). (iv) "Surplus Cash" shall mean the difference between the Gross Revenue and Annual Operating Costs. (b) Commencing on May 1, in the fiscal year that Borrower receives a certificate of occupancy for the Project, and on that day for each year thereafter for the Term of the Loan, Borrower shall use any existing Surplus Cash to make the following payments in the following order of priority: (i) To pay any amount of current or accrued subordinated base property management fee owed pursuant to the property management agreement for the Project; (ii) The payment owed on the Loan. Such payment will be equal to the lesser of: (1) One Hundred Seventy -Five Thousand Eight Hundred Forty -Six Dollars ($175,846) (which is an amount equal to the applicable year's fully amortized payment of principal and interest as amortized over a ten (10) year period) or (2) Seventy -Five Percent (75 %) of Surplus Cash remaining. (c) Subject to the Default provisions of Article 5, at the end of the Term, any interest and principal owed in connection with the Loan that has not yet been paid by Borrower pursuant to this Section shall be forgiven, and in such event the Note shall be cancelled and returned to Borrower. HELP Loan 5 144 \105\272256.4