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(3) If the Borrower receives a Determination of' Taxability it will piromp,tly give
<br />notice of such Determination of Taxability to the City and the Lender. Upon receipt of a
<br />Determination of Taxability, the interest rate on the Note shall be .5 percetit, in excess of the
<br />Prime Rate, as such rate shall change from time to, time, but never less than 5.75 percent pier year
<br />from and after the Date of Taxability.
<br />Section 4.6 Lease or Sale of P . The Borrower shall not lease, sell, convey or
<br />otherwise transfer the PrQject in whole or part, nor sell the Project 'In whole or part, without first
<br />securing the written consent of the Lender-, provided that in no event shall suich lease, transfer,
<br />assignment or sale be permitted if the effect thereof would otherwise be to impair the validity or
<br />the tax exempt status of the Note, nor shall any such transaction release the Borrower of any of
<br />its obligations under this Agreement, unless the assignee- transferee is a surviving, resulting or
<br />transferee entity as permitted under Section 4.2 hereof., The Borrower shall promptly notify the
<br />City of any such sale, transfer, assignii-ient or lease.
<br />Section 4.7 Prole.ctOpenation and Maintenance Exrenses. The Borrower shall pay all
<br />expenses of the operation and maintenance of the Project including, but without limitation, fire
<br />and other risk insurance, public liability insurance, and such other insuranice as Lender may
<br />require with respect to Borrower's properties and operations, in forni, anilounts, covieraoes, and
<br />with insurance companies reasonably acceptable to the Lender, and all taxes and special
<br />assessments levied upon or with respect to the Project and payable during the term of this
<br />Agreement, all In conformance with the provisions of the Mortgage and the Security Agreement.
<br />Upon request of the Lender fron-i time to time, the Borr w will deliver policies or certificates
<br />of 'insurance in form satisfactory to the Lender, evidencing compliance with the foregoing
<br />requirement. The Borrower shall, to the extent practicable, exercise its best efforts, to target any
<br />employment opportunities created by the Project to qualified individuals who are unemployed or
<br />economically disadvantaged as contemplated in Section 4619.152, Sub id., I I of the Act,.
<br />The Borrower will not use any Note proceeds to pay any costs of, or attributable to, the
<br />construction or equipping of any facilities used primarily for religious instruction or worship; all
<br />such costs will be paid with the Borrower's funds. The Borrower agrees that it will not use the
<br />Project or any part thereof (a) for sectarian instruction or study or primarily as a place for
<br />devotional activities or religious worship or as a facility used primarily in connection with any
<br />part of a program of a school or department of divinity for any religious dienominiation or the
<br />training of ministers, priests, rabbis or other similar persions, in the field of religion or, b) in a
<br />manner which would violate the First Aniendn'ient. to the Clon,stitution of the United States of
<br />America, 'Including the decisions of the United States Supreme Court 'interpreting the same, or
<br />any comparable provisions of the Constitution of the State,, of Minnesota including, the decisions
<br />in the Supreme Court of the State interpreting the same,.
<br />Section 4.8 Notification of Char ,ges. The Borrower covenants and agrees that it Will
<br />promptly notify the Lender of:
<br />(1) any litigation which might materially and, adversely affect the Borrower and any
<br />of its properties;
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