Laserfiche WebLink
Attachment B <br />Section 2.03 Limited Obligations. The Governmental Note is a limited obligation of the <br />Governmental Lender payable solely from the Pledged Security and any other revenues, funds, <br />and assets pledged under this Funding Loan Agreement and not from any other revenues, funds, <br />or assets of the Governmental Lender. The Governmental Note is not a general obligation, debt, <br />or bonded indebtedness of the Governmental Lender, the State, or any political subdivision thereof <br />(other than of the Governmental Lender to the limited extent set forth in this Funding Loan <br />Agreement) and the holders of the Governmental Note do not have the right to have any excises <br />or taxes levied by the Governmental Lender, the State, or any political subdivision thereof for the <br />payment of the principal of and any Prepayment Premium and interest on the Governmental Note. <br />None of the Governmental Lender, the State, or any political subdivision of the State will be <br />obligated to pay the principal of and the interest on the Governmental Note or other costs incident <br />thereto except from the Pledged Security pledged under this Funding Loan Agreement. No <br />provision, covenant, or agreement contained in this Funding Loan Agreement or the Governmental <br />Note, or any obligation herein or therein imposed upon the Governmental Lender, or the breach <br />thereof, shall constitute or give rise to or impose a liability upon the Governmental Lender (except <br />from the Pledged Security), or upon any of its officers, employees, or agents, or constitute a charge <br />upon the Governmental LenderÓs general credit or taxing powers; provided that nothing contained <br />herein or in the Act impairs the rights of the Fiscal Agent to enforce the covenants made for the <br />security of the Governmental Note as provided herein and in the Act. Any recourse for a cause of <br />action under this Funding Loan Agreement or the Governmental Note shall be payable solely from <br />the Pledged Security. <br />Section 2.04 Funding Loan Agreement Constitutes Contract. In consideration of the <br />origination and funding of the Funding Loan by the Initial Funding Lender, the provisions of this <br />Funding Loan Agreement shall be part of the contract of the Governmental Lender with the Initial <br />Funding Lender and any successors or assigns thereof in such capacity from time to time. <br />Section 2.05 Form and Execution. The Governmental Note shall be in substantially the <br />form attached as Exhibit A. The Governmental Note shall be executed on behalf of the <br />Governmental Lender by the manual or facsimile signature of the Mayor and City Manager of the <br />Governmental Lender. Any facsimile signatures shall have the same force and effect as if said <br />officers had manually signed the Governmental Note. In case said officers of the Governmental <br />Lender whose manual or facsimile signature shall appear on the Governmental Note shall cease to <br />be said officer of the Governmental Lender before the delivery of the Governmental Note, such <br />manual or facsimile signature shall nevertheless be valid and sufficient for all purposes, the same <br />as if said officer of the Governmental Lender had remained in office until delivery. The <br />Governmental Note may be signed on behalf of the Governmental Lender by said officers as are <br />at the time of execution of the Governmental Note proper officers of the Governmental Lender, <br />even though at the date of the Governmental Note, said officers were not such officers. Any <br />reproduction of the official seal of the Governmental Lender on the Governmental Note shall have <br />the same force and effect as if the official seal of the Governmental Lender had been impressed on <br />the Governmental Note. <br />Section 2.06 Authentication. The Governmental Note shall not be valid or obligatory <br />for any purpose or entitled to any security or benefit under this Funding Loan Agreement unless a <br />certificate of authentication on the Governmental Note, substantially in the form set forth in <br /> 20 <br />12502516v3 <br /> <br />