Exhibit 10.3
ADMINISTRATION AGREEMENT
by and among
WILMINGTON TRUST, NATIONAL ASSOCIATION,
as Trustee,
PUBLIC FINANCE AUTHORITY,
as Issuer
and
GREYSTONE HOUSING IMPACT INVESTORS LP,
as Administrator
Dated November 1, 2023
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Exhibit 10.3
ADMINISTRATION AGREEMENT
THIS ADMINISTRATION AGREEMENT (this “Agreement”), dated November 1, 2023 is entered into, by and among PUBLIC FINANCE AUTHORITY, as Issuer (together with its successors, the “Issuer”), WILMINGTON TRUST, National Association, as Trustee (the “Trustee”) and GREYSTONE HOUSING IMPACT INVESTORS LP, as Administrator (the “Administrator”).
RECITALS
The Issuer and the Trustee have entered into a Trust Agreement dated November 1, 2023 (as amended, supplemented or modified from time to time, the “Trust Agreement”), which provides for the deposit with the Trustee of the Portfolio Assets. Pursuant to the Trust Agreement and the Resolution, the Issuer will issue its Affordable Housing Multifamily Certificates Series 2023-1 Class B-1 and Class B-2 (collectively, the “PFA Certificates”) the proceeds of which will be used to purchase the Portfolio Assets from the Sellers and to pay other costs incurred in connection with the issuance of the Certificates.
In accordance with the terms of the Trust Agreement, the Issuer wishes to provide for the administration of the Portfolio Assets and the Certificates and the Administrator is willing to provide those services.
In consideration of the foregoing, the mutual promises contained herein and other valuable consideration, the receipt of which is hereby acknowledged, the parties hereby agree as follows (capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Trust Agreement):
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If to the Trustee: | Wilmington Trust Company, National Association One Light Street 14th Floor, MD2-L140 Baltimore, Maryland 21202 Attention: Dennis Malabunga Telephone: (929) 542-8702 Email: dmalabunga@wilmingtontrust.com |
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If to the Issuer: | Public Finance Authority 22 East Mifflin Street, Suite 900 Madison, Wisconsin 53703 Attention: Scott Carper and Michael LaPierre Email: Scott Carper (scarper@pfauthority.org) and Michael LaPierre (mlapierre@pfauthority.org) |
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If to the Administrator: | Greystone Housing Impact Investors LP 14301 FNB Parkway Suite 211 Omaha, Nebraska 68154 Attention: Jesse A. Coury and Andy Grier Email: jesse.coury@greyco.com and andy.grier@greyco.com |
The parties hereto, by notice given hereunder, may designate any further or different addresses to which subsequent notices, certificates, requests or other communications shall be sent.
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Exhibit 10.3
IN WITNESS WHEREOF, the parties hereto have executed this Agreement by their duly authorized representatives as of the day and year first above written.
WILMINGTON TRUST, NATIONAL ASSOCIATION, solely in its capacity as Trustee
By:/s/ Dennis Malabunga
Name:Dennis Malabunga
Title:Assistant Vice President
PUBLIC FINANCE AUTHORITY, as Issuer
By:/s/ Ann Marie Austin
Name:Ann Marie Austin
Title:Assistant Secretary
GREYSTONE HOUSING IMPACT INVESTORS LP, as Administrator
By:/s/ Jesse A. Coury
Name:Jesse A. Coury
Title:CFO
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