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20130239G a. "Capital Recovery Payment(s)" mean the monthly payments from Project cash plus amounts received under Section 8 project -based subsidy payments, or, if no cash exists for the payment thereof, the monthly accruals, each in the amount set forth in the Restructuring Commitment, to reimburse the Borrower, with interest, for the capital contributions made by Borrower as a part of the MAHRA Restructuring Loan transaction. Additional payment provisions for the Capital Recovery Payments and the conditions therefor are contained in this Rider. b. "Effective Gross Income" means all rents from residential and non- residential space in the Mortgaged Property. c. "Incentive Performance Fee" means the annual non - accruing fee which may be taken by the Borrower if and to the extent there is Surplus Cash, as shown on the annual financial report furnished to HUD pursuant to Section 18 of the Regulatory Agreement, to recognize imputed Borrower equity and provide an incentive for operating efficiencies, representing the percentage of Effective Gross Income as set forth in the Restructuring Commitment. If Surplus Cash is not available, Borrower may not take an Incentive Performance Fee for that year. Additional payment provisions for the Incentive Performance Fee and the conditions therefor are contained in this Rider. d. "FHA- Insured First Mortgage Regulatory Agreement" means the U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT REGULATORY AGREEMENT FOR MULTI- FAMILY PROJECTS UNDER SECTIONS 207, 220, 221(D)(3), 221(D)(4), 223(A)(7), 223(F) AND 231 OF THE NATIONAL HOUSING ACT, AS AMENDED (HUD- 92466M), entered into by Borrower, if Borrower has obtained an FHA - insured first mortgage loan ( "FHA - Insured First Mortgage Loan ") as part of the Restructuring. e. "Program Obligations" as defined in the Regulatory Agreement shall be deemed to include all terms and conditions contained in the Housing Assistance Payments Full Mark-To-Market Renewal Contract for the Project ( "HAP Contract "), the Rehabilitation Escrow Deposit Agreement, and use agreements executed as part of the Restructuring. 3. RESERVE FOR REPLACEMENT. The Reserve for Replacement shall be established and maintained in accordance with Section 10 of the Regulatory Agreement, Program Obligations, including, without limitation, Notice H 2011 -30, all applicable statutes and regulations with respect to the HAP Contract. Without limiting the periodic analysis of the use, past and projected, of the Reserve for Replacement, with the possibility of an attendant increase or decrease thereof from time to time at the written direction of HUD, Borrower agrees that the amount of the monthly deposit will be increased annually by the published Operating Cost Adjustment Factor. Notwithstanding the foregoing requirement to establish and maintain the Reserve for Replacement, Borrower shall be under no obligation to make the initial deposit or the monthly deposits thereafter into the Reserve for Replacement under this MAHRA Regulatory Agreement until the FHA - Insured First Mortgage Regulatory Agreement is extinguished (or otherwise does not exist). Upon Rider to Reg Agrnt 92466M on MRANCRNtRev 01/06/2012 -2- aR-FRENCH VLLAGE