04-26-2023 Council Packet - Laserfiche WebLink

Home Browse Search

77060853v2 i TABLE OF CONTENTS Article I DEFINITIONS ................................................................................................................... 2 Section 1.1 Defined Terms ...................................................................................................... 2 Section 1.2 Rules of Construction ......................................................................................... 22 Article II SOURCE OF PAYMENTS, GENERAL TERMS AND PROVISIONS OF THE GOVERNMENTAL NOTE............................................................................................. 22 Section 2.1 Security ............................................................................................................... 22 Section 2.2 Delivery of Security ............................................................................................ 23 Section 2.3 Source of Payment of Funding Loan and Other Obligations .............................. 24 Section 2.4 Form of Governmental Note ............................................................................... 24 Section 2.5 Delivery of Governmental Note.......................................................................... 24 Section 2.6 Required Transferee Representations; Participations; Sale and Assignment ......................................................................................................... 25 Section 2.7 Authority ............................................................................................................. 26 Section 2.8 No Litigation ....................................................................................................... 26 Section 2.9 Further Assurances ............................................................................................. 27 Section 2.10 No Other Encumbrances; No Dissolution........................................................... 27 Section 2.11 No Personal Liability .......................................................................................... 27 Article III INTEREST RATE, PAYMENT AND PREPAYMENT OF GOVERNMENTAL NOTE ............................................................................................................................... 27 Section 3.1 Origination, Maturity Date and Authorized Amount of Governmental Note ..................................................................................................................... 27 Section 3.2 Principal and Interest Payments .......................................................................... 28 Section 3.3 Draw-Down Funding .......................................................................................... 28 Section 3.4 Prepayment of Governmental Note .................................................................... 28 Section 3.5 Notice of Prepayment ......................................................................................... 29 Article IV FUNDS AND ACCOUNTS ............................................................................................ 29 Section 4.1 Authorization to Create Funds and Accounts ..................................................... 29 Section 4.2 Establishment of Funds and Accounts; Applications of Proceeds of the Funding Loan and Other Amounts ..................................................................... 29 Section 4.3 Funding Loan Fund; Bridge Note Payment Fund ............................................... 30 Section 4.4 Project Fund ........................................................................................................ 31 Section 4.5 Tax and Insurance Escrow Fund ......................................................................... 31 Section 4.6 Replacement Reserve Fund ................................................................................ 32 Section 4.7 Operating Reserve Fund ..................................................................................... 32 Section 4.8 Transfers Between Funds and Accounts; Use of Amounts in Funds and Accounts ............................................................................................................. 33 Section 4.9 Records ............................................................................................................... 33 Section 4.10 Investment of Funds............................................................................................ 33 Article V DEFAULT PROVISIONS AND REMEDIES ................................................................ 33 Section 5.1 Events of Default ................................................................................................ 33 Section 5.2 Acceleration ........................................................................................................ 34 Section 5.3 Other Remedies; Rights of Noteowners ............................................................. 34 Section 5.4 Right of Controlling Person to Direct Proceedings ............................................ 35