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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 />Section 8.03 Opinion of Bond Counsel Required. No amendment to this Funding Loan <br />Agreement, the Governmental Note, the Project Loan Agreement, the Project Note, the Security <br />Instrument, or the Tax Regulatory Agreement shall become effective unless and until (i) the <br />Funding Lender Representative shall have consented to the same in writing in its sole and absolute <br />discretion, (ii) the Funding Lender Representative, the Governmental Lender and the Fiscal Agent <br />shall have received, at the expense of the Borrower, (A) an opinion of Bond Counsel to the effect <br />that such amendment, change or modification will not, in and of itself, cause interest on the <br />Governmental Note to be includable in gross income of the holders thereof for federal income tax <br />purposes, and (B) an opinion of counsel acceptable to the Funding Lender Representative to the <br />effect that any such proposed amendment, change, or modification is authorized and complies with <br />the provisions of this Funding Loan Agreement and is a legal, valid and binding obligation of the <br />parties thereto, subject to normal exceptions relating to bankruptcy, insolvency and equitable <br />principles limitations, and (iii) to the extent the Borrower is not in default under the Financing <br />Documents and such amendment would change the essential economic terms of the Project Loan <br />or impose upon the Borrower greater liability under the Financing Documents, the Borrower has <br />consented to the same. <br />ARTICLE IX <br /> <br />SATISFACTION AND DISCHARGE OF FUNDING LOAN AGREEMENT <br />Section 9.01 Discharge of Lien. If the Governmental Lender shall pay or cause to be <br />paid to the Funding Lender the principal, interest, and Prepayment Premium, if any, to become <br />due with respect to the Funding Loan at the times and in the manner stipulated herein and in the <br />Governmental Note, in any one or more of the following ways: <br />(a) by the payment of all unpaid principal of (including Prepayment Premium, if any) <br />and interest on the Funding Loan; or <br />(b) after the Conversion Date (or, if the Conversion Date does not occur, the latest date <br />on which Conversion was permitted to occur under the Construction Phase Financing Agreement) <br />and prior to the Window Period, by the deposit to the account of the Fiscal Agent, in trust, of <br />money or securities in the necessary amount to pay the principal, Prepayment Premium and interest <br />to the Maturity Date; or <br />(c) by the delivery of the Governmental Note by the Funding Lender to the Fiscal <br />Agent for cancellation; <br />and shall have paid all amounts due and owing under the other Financing Documents, and shall <br />have paid all fees and expenses of and any other amounts due to the Fiscal Agent, the Servicer, the <br />Financial Monitor (if applicable) and the Rebate Analyst, and if the Governmental Lender shall <br />keep, perform and observe all and singular the covenants and promises in the Governmental Note <br />and in this Funding Loan Agreement expressed as to be kept, performed, and observed by it or on <br />its part, then these presents and the estates and rights hereby granted shall cease, determine and be <br />void, and thereupon the Fiscal Agent shall cancel and discharge the lien of this Funding Loan <br />Agreement and execute and deliver to the Governmental Lender such instruments in writing as <br />shall be requisite to satisfy the lien hereof, and reconvey to the Governmental Lender the estate <br /> 56 <br />12502516v3 <br /> <br />
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