SEC Contract Filing

Filing Date: 2019-08-22

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>atax-ex102_7.htm
<DESCRIPTION>EX-10.2
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.2</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RELEASE OF INTEREST IN INTEREST RATE CAP</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHERAS, Royal Bank of Canada (the "Bank") previously entered into that certain rate cap agreement dated July 8, 2015, with ATAX TEBS III, LLC (the "Counterparty); (the "Cap"), with a reference number of 2647616/2829828/2832527; and</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-family:Times New Roman;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, the Cap was collaterally assigned to The Federal Home Loan Mortgage Corporation ("Secured Lender") in connection with a pool of multifamily bonds ("Bonds"); and</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-family:Times New Roman;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, the Counterparty's obligations under the Bonds have been discharged.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-family:Times New Roman;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Secured Lender hereby releases all right, title and interest (including any security interest) it has in the Cap as of August 19, 2019, and waives any right to approve a termination, modification or novation of the Cap on or after such date.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:38.46%;text-indent:7.69%;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FEDERAL HOME LOAN</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:38.46%;text-indent:7.69%;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">MORTGAGE CORPORATION</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:46.15%;text-indent:7.69%;font-family:Times New Roman;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:38.46%;text-indent:7.69%;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">By:<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">/s/ Thomas C. McDonald</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:46.15%;text-indent:7.69%;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Thomas C. McDonald</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:46.15%;text-indent:7.69%;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Director, Multifamily Asset Management</p>
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