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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 />entitled to payment by the Governmental Lender, and the Governmental Lender shall remain liable <br />for such payment, but only out of the money or securities deposited with the Fiscal Agent as <br />aforesaid for their payment, subject, however, to the provisions of Section 9.03 hereof. <br />Section 9.03 Payment of Funding Loan After Discharge of Funding Loan Agreement. <br />Notwithstanding any provisions of this Funding Loan Agreement, and subject to applicable <br />unclaimed property laws of the State, any money deposited with the Fiscal Agent or any paying <br />agent in trust for the payment of the principal of, interest, or Prepayment Premium, if any, on the <br />Governmental Note remaining unclaimed for three (3) years after the final Maturity Date or earlier <br />payment date: (a) shall be reported and disposed of, at the expense of the Borrower, by the Fiscal <br />Agent in accordance with applicable unclaimed property laws; and (b) to the extent permitted by <br />applicable law, shall be paid to the Borrower, whereupon all liability of the Governmental Lender <br />and the Fiscal Agent with respect to such money shall cease, and the Funding Lender shall <br />thereafter look solely to the Borrower for payment of any amounts then due. All money held by <br />the Fiscal Agent and subject to this Section 9.03 shall be held uninvested and without liability for <br />interest thereon. <br />ARTICLE X <br /> <br />INTENTIONALLY OMITTED \[CURIOUS TO KNOW WHAT THIS ARTICLE WAS.\] <br />ARTICLE XI <br /> <br />MISCELLANEOUS <br />Section 11.01 Services for the Loans. The Funding Lender Representative may appoint <br />a Servicer and a Financial Monitor (either of which may be the Funding Lender Representative if <br />the Funding Lender Representative elects) to provide services in respect of the Loans as provided <br />in Section 3.02 of the Project Loan Agreement in the case of the Servicer and as described in the <br />Construction Continuing Covenant Agreement in the case of the Financial Monitor. <br />Section 11.02 Limitation of Rights. With the exception of rights herein expressly <br />conferred, nothing expressed or to be implied from this Funding Loan Agreement or the <br />Governmental Note is intended or shall be construed to give to any Person other than the Parties <br />hereto, the Funding Lender, the Funding Lender Representative, the Servicer, the Financial <br />Servicer and the Borrower, any legal or equitable right, remedy or claim under or in respect to this <br />Funding Loan Agreement or any covenants, conditions and provisions hereof. <br />Section 11.03 Construction of Conflicts; Severability. Notwithstanding anything <br />provided herein, or in any of the documents referred to herein, in the event that any contracts or <br />other documents executed by the Borrower or any other arrangements agreed to by the Borrower <br />in order to finance or refinance the Project with the proceeds of the Funding Loan evidenced by <br />the Governmental Note, the interest on which is excluded from gross income for federal income <br />tax purposes under Section 103(a) of the Code are inconsistent with the Project Loan Documents, <br />then the Project Loan Documents shall be controlling in all respects. If any provision of this <br />Funding Loan Agreement shall be held or deemed to be, or shall in fact be inoperative or <br />unenforceable as applied in any particular case in any jurisdiction or jurisdictions or in all <br /> 58 <br />12502516v3 <br /> <br />
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