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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 />(iv) the commencement of any proceedings or any proceedings instituted by or <br />against the Governmental Lender in any federal, state or local court or before any <br />governmental body or agency, or before any arbitration board, relating to the Notes of <br />which the Governmental Lender has actual knowledge; or <br />(v) the commencement of any proceedings by or against the Governmental <br />Lender under any applicable bankruptcy, reorganization, liquidation, rehabilitation, <br />insolvency or other similar law now or hereafter in effect or of any proceeding in which a <br />receiver, liquidator, conservator, trustee or similar official shall have been, or may be, <br />appointed or requested for the Governmental Lender or any of its assets relating to the <br />Loans of which the Governmental Lender has actual knowledge. <br />Section 5.04 Inspection of Project Books. The Governmental Lender covenants and <br />agrees that all books and documents in its possession relating to the Project shall, upon reasonable <br />prior notice, during normal business hours, be open to inspection and copying by such accountants <br />or other agents as the Fiscal Agent, the Servicer and the Financial Monitor (during the Construction <br />Phase) or the Funding Lender Representative may from time to time reasonably designate. <br />Section 5.05 No Modification of Security; Additional Indebtedness. The Governmental <br />Lender covenants to and for the benefit of the Funding Lender that it will not, without the prior <br />written consent of the Funding Lender Representative (acting in its sole and absolute discretion), <br />take any of the following actions: <br />(i) alter, modify or cancel, or agree to consent to alter, modify or cancel any <br />agreement to which the Governmental Lender is a party, or which has been assigned to the <br />Governmental Lender, and which relates to or affects the security for the Loans or the <br />payment of any amount owed under the Financing Documents; or <br />(ii) create or suffer to be created any lien upon the Pledged Security or any part <br />thereof other than the lien created hereby and by the Security Instrument. <br />Section 5.06 Damage, Destruction or Condemnation. Net Proceeds resulting from <br />casualty to or condemnation of the Project shall be applied as provided in the Continuing Covenant <br />Agreement and, to the extent consistent therewith, Section 3.01(b)(i) hereof. <br />Section 5.07 Tax Covenants. <br />(a) Governmental LenderÓs Covenants. The Governmental Lender covenants that it <br />will: <br />(i) neither make or use nor cause to be made or used any investment or other <br />use of the proceeds of the Funding Loan or the money and investments held in the funds <br />and accounts in any manner which would cause the Governmental Note to be Ðarbitrage <br />bondsÑ under Section 148 of the Code and the Regulations issued under Section 148 of the <br />Code (the Ð Regulations Ñ) or which would otherwise cause the interest payable on the <br />Governmental Note to be includable in gross income for federal income tax purposes; <br /> 37 <br />12502516v3 <br /> <br />
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