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2020_0518_CCPacket
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2020_0518_CCPacket
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Roseville City Council
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Council Agenda/Packets
Meeting Date
5/18/2020
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Attachment B <br />K. If the Conditions to Conversion are satisfied and the Funding Loan is purchased by <br />the Freddie Mac Seller/Servicer on the Conversion Date as set forth above, the Freddie Mac Seller/ <br />Servicer shall deliver the Funding Loan to Freddie Mac for purchase pursuant to the terms of the <br />Freddie Mac Commitment and the Guide (such date of purchase by Freddie Mac being referred to <br />as the ÐFreddie Mac Purchase DateÑ). <br />L. Upon the occurrence of the Freddie Mac Purchase Date, the Freddie Mac <br />Seller/Servicer will assign to Freddie Mac all of its rights and interest in the Funding Loan, the <br />Governmental Note, this Funding Loan Agreement, the Freddie Mac Continuing Covenant <br />Agreement and the other Financing Documents. Greystone Servicing Company LLC. will act as <br />Servicer for the Loans on behalf of Freddie Mac, as Funding Lender, on and after the Freddie Mac <br />Purchase Date. <br />M. The Governmental Lender has determined that all things necessary to incur the <br />Funding Loan and to make the Governmental Note, when executed by the Governmental Lender <br />and authenticated by the Fiscal Agent and issued in accordance with this Funding Loan Agreement, <br />the valid, binding and legal obligation of the Governmental Lender and to constitute this Funding <br />Loan Agreement a valid lien on the properties, interests, revenues and payments herein pledged to <br />the payment of the principal of, premium, if any, and interest on, the Governmental Note, have <br />been duly taken, and the creation, execution and delivery of this Funding Loan Agreement and the <br />execution and delivery of the Governmental Note, subject to the terms of this Funding Loan <br />Agreement, have been duly authorized by the Governmental Lender. <br />N. The Fiscal Agent has the power and authority to enter into this Funding Loan <br />Agreement, including corporate trust powers to accept the trusts hereunder and to accept and <br />assume its other responsibilities hereunder as Fiscal Agent as evidenced by its execution of this <br />Funding Loan Agreement. <br />NOW, THEREFORE, in consideration of the premises and of the origination and funding <br />of the Funding Loan by the Funding Lender, and for other good and valuable consideration, the <br />receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: <br />ARTICLE I <br /> <br />DEFINITIONS <br />Section 1.01 Definitions. The terms used in this Funding Loan Agreement (except as <br />herein otherwise expressly provided or unless the context otherwise requires) for all purposes of <br />this Funding Loan Agreement and of any amendment or supplement hereto shall have the <br />respective meanings specified below; provided that, in the event of an inconsistency between <br />definitions of terms defined more than once in this Funding Loan Agreement, the definition for <br />such term set forth in this Section 1.01 shall control to the extent of such inconsistency. Terms <br />used herein not otherwise defined shall have the respective meanings set forth in the Project Loan <br />Agreement. <br />Ð Act Ñ means Minnesota Statutes, Chapter 462C, as amended. <br /> 3 <br />12502516v3 <br /> <br />
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