06-08-2022 Council Packet - Laserfiche WebLink

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73495086v3 20 form set forth in Schedule 10 hereto; and (iii) a Stabilization Certificate in the form set forth on Schedule 11 hereto; (m) As soon as possible and in any event within fifteen (15) days after the occurrence of an Event of Default, a statement of the General Partner setting forth the details of such Event of Default and the action which the Borrower proposes to take with respect thereto; (n) Contemporaneously with the delivery to the Funding Lender copies of any notices, reports or other information provided to the Funding Lender under the Funding Loan Documents; (o) Copies of IRS Forms 8609 as issued and received by the Borrower; (p) [Intentionally omitted]; (q) Upon receipt thereof, copies of all real estate tax bills and insurance bills; (r) Upon receipt thereof, copies of all bills for Governmental Lender Fees or Fiscal Agent Fees and, upon payment, evidence of payment of such fees; (s) Promptly following filing thereof, all tax returns of the Borrower and, if requested by the Controlling Person, the General Partner; and (t) Such other information respecting the operations and properties, financial or otherwise, of the Borrower as the Controlling Person may from time to time reasonably request. Section 6.10 Tax-Exempt Status. (a) The Borrower covenants, represents and agrees that it will not take or omit to take or permit any action that, if taken or omitted, respectively, would adversely affect the exclusion of interest on the Governmental Note from gross income for federal income tax purposes and, if it should take or permit any such action, the Borrower will take all lawful actions that it can take to rescind such action promptly upon having knowledge thereof and that the Borrower will take such action or actions, including amendment of this Agreement, the Mortgage and the Land Use Restriction Agreement, as may be necessary, in the opinion of Tax Counsel, to comply fully with all applicable rules, rulings, policies, procedures, regulations or other official statements promulgated or proposed by the Department of the Treasury or the Internal Revenue Service applicable to the Governmental Note or affecting the Project Facilities. (b) The Borrower will not make or permit any use, and will not direct the Funding Lender to make any investment or use of the proceeds of any of the Governmental Note, which would cause any of the Governmental Note to be “arbitrage bonds” within the meaning of Section 148 of the Code and the Regulations thereunder as the same may be applicable to the Governmental Note at the time of such action, investment or use and agrees to take and cause the Governmental Lender and Funding Lender to take all actions required to comply with the provisions of Section 148 of the Code. The representations contained in the Tax Certificate (which is incorporated herein by reference) are true and correct, and the Borrower and the Governmental Lender will observe the applicable covenants therein as if set forth herein. (c) The Borrower further covenants and agrees that it will comply with and will take all action reasonably required to insure that the Funding Lender complies with all applicable requirements of said Section 148 and the rules and regulations of the United States Treasury