CCP 01-13-1997 - Laserfiche WebLink

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1~";":O;96 17,.:] FAX 7ci556~8 .\s<.: tgj004 01, I Agreement"). and rhe resolurions of che BRA and Anob Cou.nry and the Financing Agreement, 1 tOgerher wirh any ocher documents entered into among the MASC, the BRA and Anoka County in connection with che issuance of the Bonds (hereinafter collecrivdy referred ro as the "Bond -- Documents"); and WHEREAS, as a condicion of issuing rhe Bonds, the Bond Documenrs require a colla,eral pkdge of rhe Mascer Agreemem co the Truscee for the Bonds. I NOW THEREFORE, rhe parties here co hereby agtee as follows: l. TERM I This agreement shall be effective as of rhe date see forth above, :uld shall terminare on the earlier of the first day of January, 2024, or the final maturiry dare of the Bonds. This Mascer Agreement shall remain in effect umil rhe fInal maruriry date of ,he Bonds notwithstanding any I redemption of ,he Bonds in advance of che matLlriry dace thereof. The Subdivisiom and Ramsey Counry shall have the conrinued right to panicipate as per section Xl. II. FINANCING I It is conremplated char rhc coral cosc of the design, constrUCtion and securing financing for che Facility, including .ny initial deposirs for capicalized interest and reserves required under che Bond Documents (hereinafter referred co as the "Toral Development COStS") will be approximarely I $9,500,000.00 (nine million five hundred thousand dollars) and is agreed that rhese cases will be paid from a combination of (i) the Bonds, (ii) non-cash eonrrihurions by MASC, (iii) cash conrriburions from the Subdivisions and Ramsey County, and (iv) grants ro be made by l\1ASC (Q I municipalities from bond proceeds of the Scare of Minnesora which have been appropriared (Q l\1ASC for this purpose (hereinafret referred to as "Mighry Ducks Grants"). The Total Development CO"' will be made available for the Faciliry by the panies as follows: ~ DOWN PAYMENT, MANS, M,-\Sc. Blaine and Coon Rapids will depo,itwirh l\1ASC in escrow a down paymenr in rhe amounr of $500,000 (five hundred chousand dollars) in cash .., described in PART IV below, Ramsey Counry will make rhe $500,000 paymem on behalf of I MANS. Ir is agreed thar. in addition (Q a cash down payment, MASC agree' co make available rhe I land on which ,he Faeillry will be 10 cared and access therera, as well as the relared facili,ies md equipmcnt described in Exhibit C. MIGHTY DUCKS GRANTS, lr is anricipared ,hat Mighry Ducks Grants will be made to I municipali,ies for the purpose of the Faciliry in the amoum of leaS( $500,000 (five hundred thousand dollars), and duc the Mighry Ducks Grams will be directly contributed by the recipiem (Q MASC or orherwise assigned under this Master Agreemenr or the Bond Documents in order to I make the proceeds of ,he grants available for rhe Faciliry. Any such grants as may be awarded will be in addir.ion ro the: down payment requirements referred co above. BONDS, MASC agrees co use its be" effom co obcain nCt financing available for I construction and permanent financing from the proceeds of the Bonds to be issued from rhe HRA under the Bond Docu.menrs in the amount of nOt to exceed $9,000,000 (nine million dollars). Each parry will cooperate wirh Anoka Counry or irs designee and will perform such I covenants and obligations as it undercakes to Anob Counry. As. more fully ser forrh below, all rights granted under this Master Agreement will be assigned to the bond ((ustec under rhe Bond I Documents (hereinafter. rhe "Trustee"). The bond Documents will require thar the annual 2 .. I