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CC PACKET 08222000
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CC PACKET 08222000
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Last modified
12/30/2015 4:17:27 PM
Creation date
12/30/2015 4:16:32 PM
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SP Box #
17
SP Folder Name
CC PACKETS 1999-2001
SP Name
CC PACKET 08222000
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75 <br /> THE HRA MAKES NO REPRESENTATION OR WARRANTY THAT THE <br /> AVAILABLE TAX INCREMENT WILL BE SUFFICIENT TO PAY THE PRINCIPAL OF AND <br /> INTEREST ON THIS NOTE. <br /> The Note shall not be assignable or transferable without the prior written consent of the HRA; <br /> provided, however, that such consent shall not be unreasonably withheld or delayed if: (a) the assignee <br /> or transferee delivers to the HRA a written instrument acknowledging the limited nature of the HRA's <br /> payment obligations under the Note, and (b) the assignee or transferee executes and delivers to the <br /> HRA a certificate, in form and substance satisfactory to the HRA, pursuant to which, among other <br /> things, such assignee or transferee represents (i) that the Note is being acquired for investment for such <br /> assignee's or transferee's own account, not as a nominee or agent, and not with a view to the resale or <br /> distribution of any part thereof, (ii) that the assignee or transferee has no present intention of selling, <br /> granting any participation in, or otherwise distributing the same, (iii) that the assignee or transferee is an <br /> "accredited investor" within the meaning of Rule 501 of the Regulation D under the Securities Act of <br /> 1933, as amended, (iv) that the assignee or transferee, either alone or with such assignee's or <br /> transferee's representatives, has knowledge and experience in financial and business matters and is <br /> capable of evaluating the merits and risks of the prospective investment in the Note and the assignee or <br /> transferee is able.to bear the economic consequences thereof, (v) that in making its decision to acquire <br /> the Note, the assignee or transferee has relied upon independent investigations made by the assignee or <br /> transferee and, to the extent believed by such assignee or transferee to be appropriate, the assignee's or <br /> transferee's representatives, including its own professional, tax and other advisors, and has not relied <br /> • upon any representation or warranty from the HRA, or any of its officers, employees, agents, affiliates <br /> or representatives, with respect to the value of the Note, (vi) that the HRA has not made any warranty, <br /> acknowledgment or covenant, in writing or otherwise, to the assignee or transferee regarding the tax <br /> consequences, if any, of the acquisition and investment in the Note, (vii) that the assignee or transferee <br /> or its representatives have been given a full opportunity to examine all documents and to ask questions <br /> of, and to receive answers from, the HRA and its representatives concerning the terms of the Note and <br /> such other information as the assignee or transferee desires in order to evaluate the acquisition of and <br /> investment in the Note, and all such questions have been answered to the full satisfaction of the assignee <br /> or transferee, (viii) that the assignee or transferee has evaluated the merits and risks of investment in the <br /> Note and has determined that the Note is a suitable investment for the assignee or transferee in light of <br /> such party's overall financial condition and prospects, (ix) that the Note will be characterized as <br /> "restricted securities" under the federal securities laws because the Note is being acquired in a . <br /> transaction not involving a public offering and that under such laws and applicable regulations such <br /> securities may not be resold without registration under the Securities Act of 1933, as amended, except <br /> in certain limited.circumstances, and (x) that no market for this Note exists and no market for the Note <br /> is intended to be developed. <br /> Notwithstanding the foregoing, Redeveloper may assign and pledge this Note to secure <br /> any loan to finance the costs of the Project and may transfer the Note to (i) any entity controlling, <br /> • <br /> C-3 <br />
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