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13068487v2 <br /> <br /> <br /> i <br /> <br />$7,550,000 City of Little Canada, Minnesota <br />Subordinate Senior Housing and Healthcare Revenue Bonds <br />(New Harmony Project) <br />Series 2021D <br />TABLE OF CONTENTS <br />LOAN AGREEMENT <br />ARTICLE I DEFINITIONS AND INTERPRETATION .................................................... 2 <br />Section 1.01 Definitions............................................................................................ 2 <br />Section 1.02 Characteristics of Certificate or Opinion ............................................. 7 <br />Section 1.03 Description of Project .......................................................................... 7 <br />Section 1.04 Additional Provisions as to Interpretation ........................................... 7 <br />ARTICLE II REPRESENTATIONS, ETC. .......................................................................... 9 <br />Section 2.01 Representations by the Issuer............................................................... 9 <br />Section 2.02 Representations, Warranties and Covenants by the Corporation ......... 9 <br />ARTICLE III ISSUANCE OF THE SERIES 2021D BONDS ............................................ 12 <br />Section 3.01 Project ................................................................................................ 12 <br />Section 3.02 Agreement to Issue Series 2021D Bonds; Application of Series <br />2021D Bond Proceeds........................................................................ 12 <br />Section 3.03 Disbursements from the Project Fund................................................ 12 <br />Section 3.04 Obligation of the Corporation to Cooperate in Furnishing <br />Documents to the Trustee .................................................................. 12 <br />Section 3.05 Corporation Required to Provide for Payment in Full of the <br />Project ................................................................................................ 12 <br />Section 3.06 Title to the Project Facilities .............................................................. 13 <br />ARTICLE IV LOAN PAYMENTS AND DEPOSITS......................................................... 14 <br />Section 4.01 The Loan ............................................................................................ 14 <br />Section 4.02 Repayment of Loan ............................................................................ 14 <br />Section 4.03 Additional Payments .......................................................................... 15 <br />Section 4.04 No Set-Off; Corporation’s Obligations Unconditional ...................... 15 <br />Section 4.05 Interest on Loan Repayments and Other Overdue Payments ............ 16 <br />Section 4.06 Options to Prepay Loan ..................................................................... 16 <br />Section 4.07 Tax-Exempt Status of Series 2021D Bonds....................................... 17 <br />Section 4.08 Investment of Funds; Credits ............................................................. 19 <br />ARTICLE V PROJECT FACILITIES ................................................................................ 20