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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 />any documents transferring any interest in the Project to another to the end that such transferee has <br />notice of, and is bound by, the Tax Regulatory Agreement. Subject to the provisions of Section <br />7.06 of this Project Loan Agreement, the Governmental Lender, the Funding Lender <br />Representative and the Fiscal Agent shall have the right to seek specific performance of or <br />injunctive relief to enforce the requirements of any covenants of the Borrower contained in the <br />Tax Regulatory Agreement. <br />Section 5.13 Damage, Destruction and Condemnation. If prior to full payment of the <br />Funding Loan (or provision for payment of the Funding Loan in accordance with the provisions <br />of the Funding Loan Agreement) the Project or any portion of it is destroyed (in whole or in part) <br />or is damaged by fire or other casualty, or title to, or the temporary use of, the Project or any <br />portion of it shall be taken under the exercise of the power of eminent domain by any governmental <br />body or by any person, firm or corporation acting under governmental authority, or shall be <br />transferred pursuant to an agreement or settlement in lieu of eminent domain proceedings, the <br />Borrower shall nevertheless be obligated to continue to pay the amounts specified in this Project <br />Loan Agreement and in the Project Note to the extent the Project Loan is not prepaid in full in <br />accordance with the terms of the Project Loan Documents. <br />Section 5.14 Obligation of the Borrower To Construct the Project. The Borrower shall <br />proceed with reasonable dispatch (and in no event later than required under the Financing <br />Documents) to complete the construction, development and equipping of the Project as required <br />by the Financing Documents. If amounts on deposit in the Project Loan Fund designated for the <br />Project and available to be disbursed to the Borrower are not sufficient to pay the costs of the <br />acquisition, construction, development and equipping, the Borrower shall pay such additional costs <br />from its own funds. The Borrower shall not be entitled to any reimbursement from the <br />Governmental Lender, the Fiscal Agent, the Servicer, the Financial Monitor, the Funding Lender <br />Representative or the Funding Lender in respect of any such additional costs or to any diminution <br />or abatement in the repayment of the Project Loan. None of the Fiscal Agent, the Governmental <br />Lender, the Funding Lender, the Funding Lender Representative, the Financial Monitor or the <br />Servicer makes any representation or warranty, either express or implied, that money, if any, which <br />will be paid into the Project Loan Fund or otherwise made available to the Borrower will be <br />sufficient to complete the Project, and none of the Fiscal Agent, the Governmental Lender, the <br />Funding Lender, the Funding Lender Representative, the Financial Monitor or the Servicer shall <br />be liable to the Borrower, the Funding Lender, or any other person if for any reason the Project is <br />not completed. <br />Section 5.15 Filing of Financing Statements. The Borrower shall file or record or cause <br />to be filed or recorded on or prior to the Delivery Date all UCC financing statements which are <br />required to be filed or recorded in order fully to protect and preserve the security interests relating <br />to the priority of the Project Loan, the Funding Loan, the Pledged Security and the Security <br />Instrument, and the rights and powers of the Governmental Lender, the Fiscal Agent and the <br />Funding Lender in connection with such security interests. The Borrower shall cooperate with the <br />Fiscal Agent in connection with the filing of any continuation statements for the purpose of <br />continuing without lapse the effectiveness of such financing statements. <br /> 25 <br />12502464v3 <br /> <br />
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