SCHEDULE 2 TO MULTIFAMILY LOAN AND SECURITY AGREEMENT Summary of Loan Terms (Interest Rate Type - Structured ARM (1 and 3 Month LIBOR)) (Seniors Housing) I. GENERAL PARTY AND MULTIFAMILY PROJECT INFORMATION Borrower Lender Key Principal Guarantor Multifamily Project [DRAFTING NOTE: LIST ALL IF MORE THAN ONE] [INSERT MORTGAGED PROPERTY’S COMMONLY KNOWN NAME] Type of Property [DRAFTING NOTE: SELECT ALL APPLICABLE PROPERTY TYPE(S): INDEPENDENT LIVING, ASSISTED LIVING, ALZHEIMER’S/DEMENTIA CARE] Seniors Housing Facility Licensing Designation [DRAFTING NOTE: INSERT DESIGNATION PER PROPERTY JURISDICTION OR INSERT “NO SENIOR HOUSING FACILITY LICENSING REQUIRED”] HIPAA Covered Entity Borrower  Yes  No Operator  Yes  No Manager  Yes  No [Identify other Property Operator]  Yes  No
Medicaid Participant Borrower  Yes  No Operator  Yes  No Manager  Yes  No [Identify other Property Operator]  Yes  No Property Operator(s) [DRAFTING NOTE: INSERT NAME AS APPLICABLE] Operator ____________________________ Sublessee ____________________________ Manager ____________________________ Affiliated Property Operator(s)  Yes [DRAFTING NOTE: IF YES, INSERT NAME AS APPLICABLE] Operator ________________________ Sublessee ________________________ Manager ________________________  No ADDRESSES Borrower’s General Business Address [DRAFTING NOTE: LIST ALL IF MORE THAN ONE] Borrower’s Notice Address [DRAFTING NOTE: LIST ALL IF MORE THAN ONE; INCLUDE EMAIL ADDRESS] Multifamily Project Address [DRAFTING NOTE: LIST ALL IF MORE THAN ONE] Multifamily Project County [DRAFTING NOTE: LIST ALL IF MORE THAN ONE] Key Principal’s General Business Address [DRAFTING NOTE: LIST ALL IF MORE THAN ONE] Key Principal’s Notice Address [DRAFTING NOTE: LIST ALL IF MORE THAN ONE; INCLUDE EMAIL ADDRESS]
Guarantor’s General Business Address [DRAFTING NOTE: LIST ALL IF MORE THAN ONE] Guarantor’s Notice Address [DRAFTING NOTE: LIST ALL IF MORE THAN ONE; INCLUDE EMAIL ADDRESS] Lender’s General Business Address [DRAFTING NOTE: USE HEADQUARTERS ADDRESS] Lender’s Notice Address [DRAFTING NOTE: USE SERVICING ADDRESS; INCLUDE EMAIL ADDRESS] Lender’s Payment Address Manager’s General Business Address [DRAFTING NOTE: LIST ALL IF MORE THAN ONE] Manager’s Notice Address [DRAFTING NOTE: USE SERVICING ADDRESS; INCLUDE EMAIL ADDRESS] Operator’s General Business Address [DRAFTING NOTE: LIST ALL IF MORE THAN ONE] Operator’s Notice Address [DRAFTING NOTE: USE SERVICING ADDRESS; INCLUDE EMAIL ADDRESS] Sublessee’s General Business Address [DRAFTING NOTE: LIST ALL IF MORE THAN ONE] Sublessee’s Notice Address [DRAFTING NOTE: USE SERVICING ADDRESS; INCLUDE EMAIL ADDRESS] II. MULTIFAMILY PROJECT INFORMATION Property Square Footage Total Parking Spaces Total Residential Units [DRAFTING NOTE: BREAK DOWN UNITS PER USE (EX. IL, AL, ALZ, DEMENTIA CARE)]
Monthly Replacement Reserve Deposit $_______________ Repair Threshold $_______________ Repairs Escrow Account Administrative Fee $_______________, payable [one time][monthly] Repairs Escrow Deposit $_______________ Replacement Reserve Account Administration Fee $_______________, payable [monthly][annually] Replacement Reserve Account Interest Disbursement Frequency [monthly][quarterly] Replacement Threshold $_______________ VI. CONVERSION OPTION – SARM LOAN Conversion Review Fee A non-refundable fee in the amount of $___________________. Guaranty Fee The guaranty fee offered by Fannie Mae for a new Fannie Mae mortgage loan with the same or substantially similar loan terms and credit characteristics as the Mortgage Loan (taking into account the Fixed Rate Option selected by Borrower) at the time of the Conversion Effective Date. Minimum Conversion Debt Service Coverage Ratio _____ [Insert the applicable Debt Service Coverage Ratio, which shall in no event be lower than 1.25 for Tier 2, 1.35 for Tier 3, or 1.55 for Tier 4, based upon Tier at Mortgage Loan origination.]