West Orange Township_Fourth Round HEFSP_Final Draft

FHIS FINANCING, DEED RESTRICTION AND REGULATORY AGREEMENT (this "Agreement”), made and entered into as of this 25" day of August, 2010, by and between the NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY (the "Agency" or “Lender"}, a body politic and corporate and an instrumentality exercising public and essential governmental functions of the State of New Jersey (the “State") and JEWISH SERVICE FOR THE DEVELOPMENTALLY DISABLED OF METROWEST, INC. ("Owner" oF “Borrower")}, a non-profit corporation organized and existing pursuant to the laws of the State af New Jersey and duly authorized to transact business in the State of New Jersey. WITNESSETH Jn consideration of the mutual covenants and undertakings set forth herein, and other good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the Agency and ihe Owner hereby agree as follows: Section 1. Definitions and Interpretation. The following terns shall have the respective meanings set forth below: "Act" means the New Jersey Housing and Mortgage Finance Agency Law of 1983, as amended fram time to time, PL. 1983. ¢. 530, N.LS.A. 55:14K-1 et seg.. and the regulations promulgated thereunder. cM \ “Agency Financing” mneans the Second Mortgage Loan and Third Mortgage Loan. “Agency Regulations. means the regulations promulgated by the Agency pursuant to the Act and any policies, procedures or guidelines issued by the Agency with respect to the housing projects financed by the Agency under the Act, all of the foregoing as they may be amended from time to time, if applicable. © ar “Architect’s. Contract" means the agreement between the Owner and Sincox Associates Architects dated May 1, 2010, or any other agreement executed by the Owner and approved by the Agency, for the design and construction oversight of the Project in accordance with the plans and specifications for the Project approved by the Agency, if applicable. " Assignment of Leases” means the Assignment of Leases by and between the Owner and Lender of even date herewith. “Code” means the Internal Revenue Code of 1986, as amended. “Construction Contract" means the agreement between the Owner and Bruno’s Home Improvements or any other agreement executed by the Owner and approved by the Agency, for the construction of the Project in accordance with the plans and specifications for the Project approved >