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02
City of Pleasanton
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CITY CLERK
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AGENDA PACKETS
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2012
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032012
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02
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3/13/2012 3:04:41 PM
Creation date
3/13/2012 3:04:37 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
3/20/2012
DESTRUCT DATE
15Y
DOCUMENT NO
02
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ATTACHMENT 2 <br /> Redline Version of Section 2.3 of the Amended Loan Agreement <br /> (f) To pay the Asset Management Fee. <br /> (51 Any remaining Surplus Cash shall be distributed as follows: <br /> fa) 72%[ shall be deposited into] the Affordability Reserve; <br /> (bI u shall be paid to BRIDGE Housing,Inc as a fee for <br /> i <br /> managing the Affordability Reserve for the Proj�t; and <br /> (g) To pay the Management/Incentive-Bonus <br /> (c) 20%shall be distributed to BRIDGE Housing, Inc. <br /> (2) Payments to Accrue until Paid. <br /> fa)— To the extent that the Surplus Cash in any <br /> yeecthjCe is insufficient Surplus Cash to paymake the feepayments set forth in <br /> Section 2,3(b)(i)(1), f31 oj41.the unpaid p hallamount shall accrue and be <br /> paid from Surplus Cash in subsequent year(s) . - .. . - . . . . <br /> payments are made pursuant to Section 2.3(b)(i)(2) through (7) above; ed <br /> - : . - shall-accrue-as <br /> pre id.<,below, in the order of rp iorlty of the Waterfall of Payments set forth in <br /> Section (i), above. <br /> (b) To the extent that the Surplus Cash in any year is <br /> Cash in subsequent year(s) until paid in full and before any payments are made pursuant to <br /> Section 2.3(b)(i)('I) through (7) above; provided however that payments owed under-Section <br /> - - . - . . i is insufficient to <br /> each particular year and any accrued amounts shall be paid before any payments are made <br /> (d) If during the first five (5) years follewg-the <br /> Borrower's receipt of a certificate of occupancy to the project, Surplus Cash is insufficient to pay <br /> 144\105\1089710.1 <br />
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