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11-13-2024 Council Packet
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11-13-2024 Council Packet
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135242345v3 <br /> <br /> <br />37 <br />sentence shall be deemed to modify or change the obligations of Governmental Lender under this <br />Section 5.03. Governmental Lender covenants and agrees that, except as herein otherwise <br />expressly provided, it has not and will not sell, convey, mortgage, encumber or otherwise dispose <br />of any part of its interest in the Pledged Security or the revenues or receipts therefrom. <br />Governmental Lender will promptly notify Fiscal Agent, Funding Lender Representative, <br />Investor Limited Partner, and Loan Servicer in writing of the occurrence of any of the following: <br />(a) The submission of any claim or the initiation of any legal process, litigation <br />or administrative or judicial investigation against Governmental Lender with respect to the <br />Loans. <br />(b) Any change in the location of Governmental Lender’s principal office or <br />any change in the location of Governmental Lender’s books and records relating to the <br />transactions contemplated hereby. <br />(c) The occurrence of any default or Event of Default of which Governmental <br />Lender has actual knowledge. <br />(d) The commencement of any proceedings or any proceedings instituted by or <br />against Governmental Lender in any federal, state or local court or before any <br />governmental body or agency, or before any arbitration board, relating to the Notes. <br />(e) The commencement of any proceedings by or against Governmental Lender <br />under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or <br />other similar law now or hereafter in effect or of any proceeding in which a receiver, <br />liquidator, conservator, trustee or similar official shall have been, or may be, appointed or <br />requested for Governmental Lender or any of its assets relating to the Loans. <br />Section 5.04 Inspection of Project Books. Governmental Lender covenants and agrees <br />that all books and documents in its possession relating to the Project shall, upon reasonable prior <br />notice, during normal business hours, be open to inspection and copying by such accountants or <br />other agents as Fiscal Agent or Funding Lender Representative may from time to time reasonably <br />designate. <br />Section 5.05 No Modification of Security; Additional Indebtedness. Governmental <br />Lender covenants to and for the benefit of Funding Lender that it will not, without the prior written <br />consent of Funding Lender Representative, take any of the following actions: <br />(a) Alter, modify or cancel, or agree to consent to alter, modify or cancel any <br />agreement to which Governmental Lender is a party, or which has been assigned to <br />Governmental Lender, and which relates to or affects the security for the Loans or the <br />payment of any amount owed under the Financing Documents; or <br />(b) Create or suffer to be created any lien upon the Pledged Security or any part <br />thereof other than the lien created hereby and by the Security Instrument.
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