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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 />60 <br />(a) Notwithstanding anything provided herein, or in any of the documents <br />referred to herein, in the event that any contracts or other documents executed by Borrower <br />or any other arrangements agreed to by Borrower in order to finance or refinance the <br />Project with the proceeds of the Funding Loan, the interest on which is excluded from the <br />gross income of the holders thereof for federal income tax purposes under Section 103(a) <br />of the Code are inconsistent with the Project Loan Documents, then the Project Loan <br />Documents shall be controlling in all respects. If any provision of this Funding Loan <br />Agreement shall be held or deemed to be, or shall in fact be inoperative or unenforceable <br />as applied in any particular case in any jurisdiction or jurisdictions or in all jurisdictions, <br />or in all cases because it conflicts with any other provision or provisions hereof or any <br />constitution, statute, rule of law or public policy, or for any other reason, such <br />circumstances shall not have the effect of rendering the provision in question inoperative <br />or unenforceable in any other case or circumstance, or of rendering any other provision or <br />provisions herein contained invalid, inoperative, or unenforceable to any extent whatever. <br />(b) The invalidity of any one or more phrases, sentences, clauses or sections in <br />this Funding Loan Agreement contained, shall not affect the remaining portions of this <br />Funding Loan Agreement, or any part thereof. <br />Section 10.04 Notices. <br />(a) Whenever in this Funding Loan Agreement the giving of notice by mail or <br />otherwise is required, the giving of such notice may be waived in writing by the Person <br />entitled to receive such notice and in any such case the giving or receipt of such notice shall <br />not be a condition precedent to the validity of any action taken in reliance upon such <br />waiver. <br />Any notice, request, complaint, demand, communication or other paper required or <br />permitted to be delivered to Governmental Lender, Fiscal Agent, Funding Lender <br />Representative, Borrower, Investor Limited Partner, or Loan Servicer shall be sufficiently <br />given and shall be deemed given (unless another form of notice shall be specifically set <br />forth herein) on the Business Day following the date on which such notice or other <br />communication shall have been delivered to a national overnight delivery service (receipt <br />of which to be evidenced by a signed receipt from such overnight delivery service) <br />addressed to the appropriate party at the addresses set forth below or as may be required or <br />permitted by this Funding Loan Agreement by Electronic Instruction and Notice. <br />Governmental Lender, Fiscal Agent, Funding Lender Representative, Borrower, Investor <br />Limited Partner, or Loan Servicer may, by notice given as provided in this paragraph, <br />designate any further or different address to which subsequent notices or other <br />communication shall be sent. <br /> <br />Notice Addresses <br />If to Governmental <br />Lender: <br />City of Little Canada, Minnesota <br />Little Canada City Hall <br />515 Little Canada Road East <br />Little Canada, MN 55117
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