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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 />with respect to the Governmental Note shall be insufficient for such payment, such money shall <br />be applied as follows and in the following order of priority: <br />(a) For payment of all amounts due to the Fiscal Agent incurred in performance of its <br />duties under this Funding Loan Agreement, including, without limitation, the payment of all <br />reasonable fees and expenses of the Fiscal Agent incurred in exercising any remedies under this <br />Funding Loan Agreement. <br />(b) To the extent directed in writing by the Funding Lender Representative, to the <br />reimbursement of any unreimbursed advances made by or on behalf of the Funding Lender <br />pursuant to the Continuing Covenant Agreement or the Security Instrument. <br />(c) Unless the full principal amount of the Funding Loan shall have become or have <br />been declared due and payable: <br />FIRST: to the Funding Lender, all installments of interest then due on the <br />Funding Loan in the order of the maturity of such installments; and <br />SECOND: to the Funding Lender, unpaid principal of and Prepayment <br />Premium, if any, on the Funding Loan which shall have become due, whether at <br />maturity or by call for prepayment, in the order in which they became due and <br />payable. <br />(d) If the full principal amount of the Governmental Note shall have become or have <br />been declared due and payable, to the Funding Lender for the payment of the principal of, <br />Prepayment Premium, if any, and interest then due and unpaid on the Funding Loan without <br />preference or priority of principal over interest or of interest over principal, or of any installment <br />of interest over any other installment of interest. <br />Section 6.06 Remedies Not Exclusive. Without limiting the generality of Section 6.02 <br />hereof, no right or remedy conferred upon or reserved to the Fiscal Agent, the Funding Lender or <br />the Funding Lender Representative by the terms of this Funding Loan Agreement is intended to <br />be exclusive of any other right or remedy, but each and every such remedy shall be cumulative <br />and shall be in addition to every other right or remedy given to the Fiscal Agent, the Funding <br />Lender or the Funding Lender Representative under this Funding Loan Agreement or existing at <br />law or in equity or by statute (including the Act). <br />Section 6.07 Fiscal Agent May Enforce Rights Without Governmental Note. All rights <br />of action and claims, including the right to file proof of claims, under this Funding Loan Agreement <br />may be prosecuted and enforced by the Fiscal Agent at the written direction of the Funding Lender <br />Representative without the possession of the Governmental Note or the production thereof in any <br />trial or other proceedings relating thereto. Subject to the rights of the Funding Lender <br />Representative to direct proceedings hereunder, any such suit or proceeding instituted by the Fiscal <br />Agent shall be brought in its name as Fiscal Agent without the necessity of joining as plaintiffs or <br />defendants any Funding Lender, and any recovery or judgment shall be for the benefit as provided <br />herein of the Funding Lender. <br /> 43 <br />12502516v3 <br /> <br />
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