2025.07.07 CC Packet - Laserfiche WebLink

Home

172981943v5 8 (11) No public official of the City has either a direct or indirect financial interest in this Agreement nor will any public official either directly or indirectly benefit financially from this Agreement; (12) The Borrower has approved the terms and conditions of the Note; (13) The Borrower intends to operate the Facility as a private pre-k–12 school facility until the date on which the entire Principal Balance of the Note has been fully paid and is no longer outstanding; (14) Each document executed by the Borrower in connection with the Loan constitutes the legal, valid, and binding obligation of the Borrower, enforceable in accordance with its terms (subject, as to enforceability, to limitations resulting from bankruptcy, insolvency and other similar laws affecting creditors’ rights generally); (15) The financial statements of the Borrower heretofore furnished to the Lender are complete and correct in all material respects and fairly present the financial condition of the Borrower at the date of such statement. Since the most recent set of financial statements delivered by the Borrower to the Lender, there have been no material adverse changes in the financial condition of the Borrower; (16) No consent, approval, order or authorization of, or registration, declaration, or filing with, or notice to, any governmental authority or any third party is required in connection with the execution and delivery of this Agreement, or any of the agreements or instruments herein mentioned or related hereto to which the Borrower is a party or the carrying out or performance of any of the transactions required or contemplated hereby or thereby or, if required, such consent, approval, order or authorization has been (or, with respect to the filing of the Form 8038 with the Internal Revenue Service, will be) obtained or such registration, declaration or filing has been or will be accomplished or such notice has been or will be given; (17) The Borrower has good title to the Land, free and clear of all mortgages, liens and encumbrances, except the Permitted Encumbrances (as described in the Mortgage). When timely and properly recorded, the Mortgage will constitute a valid and perfected first mortgage lien on the Land; (18) The Land and Facility are in substantial compliance with the accessibility guidelines set forth in Title III of The Americans with Disabilities Act of 1990, as the same may be amended from time to time, and any rules and regulations promulgated thereunder (the “ADA”); (19) Denominational adherence is not required for employment at the Facility; and (20) No portion of the facilities being financed with proceeds of the Note is designed for or shall be used in whole or in part as a place for devotional activities, religious worship or sectarian education, instruction, or indoctrination, which sectarian facilities have been financed with other funds available to the Borrower and not from proceeds of the Note.