Release of Interest in Interest Rate Cap Agreement by Federal Home Loan Mortgage Corporation and Wells Fargo Bank

Summary

This agreement documents that the Federal Home Loan Mortgage Corporation (the Secured Lender) releases all rights and interests it held in an interest rate cap agreement between Wells Fargo Bank and ATAX TEBS III, LLC. The release is effective as of August 19, 2019, following the discharge of the Counterparty's obligations under related multifamily bonds. The Secured Lender also waives any future approval rights over changes to the cap agreement.

EX-10.1 2 atax-ex101_8.htm EX-10.1 atax-ex101_8.htm

Exhibit 10.1

 

RELEASE OF INTEREST IN INTEREST RATE CAP

 

 

 

 

WHERAS, Wells Fargo Bank, National Association (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 16900928; and

 

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

 

WHEREAS, the Counterparty's obligations under the Bonds have been discharged.

 

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.

 

 

 

 

 

FEDERAL HOME LOAN

MORTGAGE CORPORATION

 

By:/s/ Thomas C. McDonald

Thomas C. McDonald

Director, Multifamily Asset Management