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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 C <br />Section 4.05 BorrowerÓs Obligations Upon Prepayment. In the event of any <br />prepayment, the Borrower will timely pay, or cause to be paid through the Servicer, an amount <br />equal to the principal amount of the Funding Loan or portion thereof called for prepayment, <br />together with interest accrued to the prepayment date and Prepayment Premium, if any. In <br />addition, the Borrower will timely pay all fees, costs, and expenses associated with any prepayment <br />of the Funding Loan. <br />Section 4.06 Limits on Personal Liability. <br />(a) During the Construction Phase, the obligations of the Borrower under this Project <br />Loan Agreement and the other Financing Documents shall be full-recourse liabilities of the <br />Borrower. <br />(b) During the Permanent Phase, except as otherwise set forth in the Project Note and <br />subsection 4.06(c) below, the obligations of the Borrower under this Project Loan Agreement and <br />the other Financing Documents shall be non-recourse liabilities of the Borrower which shall be <br />enforced only against the Project and other property of the Borrower encumbered by the Financing <br />Documents and not personally against the Borrower or any partner of the Borrower or any <br />successor or assign of the Borrower. However, nothing in this Section 4.06 shall limit the right of <br />the Governmental Lender, the Fiscal Agent, the Servicer or the Funding Lender Representative to <br />proceed against the Borrower to recover any fees owing to any of them or any actual out-of-pocket <br />expenses (including but not limited to actual out-of-pocket attorneysÓ fees incurred by any of them) <br />incurred by any of them in connection with the enforcement of any rights under this Project Loan <br />Agreement or the other Financing Documents. Nothing in this Section 4.06 shall limit any right <br />that the Servicer or the Funding Lender Representative may have to enforce the Project Note, the <br />Security Instrument, or any other Financing Document in accordance with their terms. <br />(c) During the Permanent Phase, notwithstanding anything contained in any other <br />provision of this Project Loan Agreement to the contrary (but subject to the provisions of Section <br />7.06 hereof), the following obligations of the Borrower shall be and remain the joint and several <br />full recourse obligations of the Borrower and the BorrowerÓs general partner: (i) the BorrowerÓs <br />obligations to the Governmental Lender and the Fiscal Agent under subsections (b)(ii), (b)(iv), <br />(b)(v), and (b)(vi) of Section 4.02 hereof; (ii) the BorrowerÓs obligations under Sections 2.05 and <br />6.01 of this Project Loan Agreement; (iii) the BorrowerÓs obligation to pay any and all rebate <br />amounts that may be or become owing with respect to the Funding Loan and fees and expenses of <br />the Rebate Analyst as provided in Sections 2.04 and 4.03 of this Project Loan Agreement and the <br />Tax Certificate; and (iv) the BorrowerÓs obligation to pay legal fees and expenses under Section <br />7.04 hereof. <br />ARTICLE V <br />SPECIAL COVENANTS OF BORROWER <br />Section 5.01 Performance of Obligations. The Borrower shall keep and faithfully <br />perform all of its covenants and undertakings contained herein and in the Financing Documents, <br /> 22 <br />12502464v3 <br /> <br />
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