04-26-2023 Council Packet - Laserfiche WebLink

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77060900v2 A-3 (e) Borrower shall pay all unpaid principal of and interest on this Note on the Maturity Date and any other amounts due hereunder. (f) Any regularly scheduled monthly installment of principal and interest that is received by Funding Lender before the date it is due shall be deemed to have been received on the due date solely for the purpose of calculating interest due. (g) Borrower shall make all payments of principal and interest under this Note without relief from valuation and appraisement laws. (h) Borrower acknowledges that the calculation of all interest payments shall be made by the Funding Lender and Controlling Person and shall be final and conclusive, absent manifest error. 6. Acceleration. If an Event of Default has occurred and is continuing, the entire unpaid principal balance, any accrued interest, the prepayment premium payable hereunder, if any, and all other amounts payable under this Note and any other Borrower Loan Document shall at once become due and payable, at the option of Funding Lender, without any prior notice to Borrower (except if notice is required by applicable law, then after such notice). Funding Lender may exercise this option to accelerate regardless of any prior forbearance. 7. Prepayments. (a) In connection with any prepayment (i.e., any receipt by Funding Lender of principal, other than principal required to be paid in monthly installments pursuant to Section 3, prior to the Maturity Date) made under this Note, whether voluntary or involuntary, no prepayment premium shall be payable. EXCEPT AS OTHERWISE PERMITTED HEREIN, NO VOLUNTARY PREPAYMENTS OF THIS NOTE, IN WHOLE OR IN PART, SHALL BE PERMITTED. (b) Optional Prepayment of Borrower Note. (i) The Borrower Note is subject to optional prepayment in whole but not in part, by the Borrower upon not less than forty-five (45) days written notice to the Funding Lender and the Controlling Person (which notice shall be unconditional and irrevocable) on any Loan Payment Date occurring on or after the First Optional Call Date, at a prepayment price equal to 100% of the principal amount thereof, plus accrued interest thereon to, but not including, the prepayment date. (ii) The Borrower Note is subject to optional prepayment in part on any Loan Payment Date specified by the Borrower and consented to by the Controlling Person following Completion but not later than the Stabilization Date in an amount not to exceed, in the aggregate, the Mandatory Prepayment Amount at a prepayment price equal to 100% of the principal amount to be prepaid without premium or penalty plus interest accrued thereon to, but not including, the redemption date. (c) Mandatory Prepayment of Borrower Note. (i) The Borrower Note is subject to mandatory prepayment in part upon the written direction of the Controlling Person from, and to the extent of, any Surplus Funding Loan Proceeds, on any Loan Payment Date after final Completion of the Project Facilities,