Notes to SEFA
Note payable by Affordable Housing Management, Inc. (Village Crossing) to the City of Greensboro is noninterest bearing, due in 2030, assuming the project continues to qualify as affordable housing. The note is secured by a first deed of trust on the land, buildings and improvements.
Note payable by Affordable Housing Management, Inc. (Hope Court) to the City of Greensboro is noninterest bearing, due in 2035, assuming the project continues to qualify as affordable housing. The note is secured by a first deed of trust on the land, buildings and improvements. Note payable by Affordable Housing Management, Inc. (Hope Court) to the North Carolina Housing Finance Agency is noninterest bearing, due in 2046, assuming the project continues to qualify as affordable housing. The note is secured by a first deed of trust on the land, buildings and improvements. Deferred loan payable by Affordable Housing Management, Inc. (Hope Court) to the Federal Home Loan Bank with interest at 0% and no monthly payment required, forgiven upon adherence to Affordable Housing Guidelines of the Federal Housing Agency for 15 years.
Note payable by Affordable Housing Management, Inc. (Windhill Development) to the City of Greensboro is noninterest bearing, due May 1, 2042. The note is secured by real and personal property.
Note payable by Affordable Housing Management, Inc. (Windhill Court) to the Greensboro Housing Authority bearing interest at Applicable Federal Rate, due January 11, 2047. The note is secured by real and personal property.