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or tl�e Regulatioi7s; or (ii)to the 1Vlember or Project Sponsor for re-use by the I�Qember or Project Sponsor, if the
<br /> Banlc has authorized reteiltion and re-use of the subsid}� by the Member or Project Sponsor pursuani to fhe
<br /> Regulations; and (d) the obligation to repay the subsidy to the Banlc shall tei•minate after any foreclosw'e. l�ol•ms of
<br /> approved P�etention Vel�icles are available fi�om time to ti�iie ii�om the L'anl< (ava.ilable on the Banlc's website),
<br /> provided thaf a�1y changes to such forms or the use of any different foi7n of Reteniion Vehicle witli respect to the
<br /> Pi•oject are at the sole risl< of the I��.ember and/or Froject Spo�isor, and the obligations, duties and liabilities of t11e
<br /> 1Vlember and/or Project Sponsor hereunder or under tl�e Regulatious sliall still app]}�.
<br /> ���L��� Zc9.. ITthe I�/lember or Project Sponsor lends a direct suUsidy to the Project, auy repayments of principal
<br /> and paynients of interest received by fihe IVtember oi•the Project 5porisor must be paid forth«�ith to the Banlc, unless
<br /> flle dii•ect suUsidy is being both lent and re-lent by a revolvin�loan funci pursuant to the Regulations.
<br /> �eE�g�i� fl5. The Project Sponsor and the MemUer agree to pi'omptly report to the Banlc's Comint�ility
<br /> I�ivestu�ent Depai-tment any material chauges ii1 the financial structure oi-the Project, including buf not limited to
<br /> any new sources of fiulds, failure to receive other project-related funds or couipensated tax credit utilizatioil or auy
<br /> other material cllanges iil the Pi•oject's scope and terms. The Bai�lc retains the right to reevaluate the need for the
<br /> suUsidy iu light of any such nlaterial changes aud may malce such modilication thereto, includiug the au�ount of the
<br /> subsidy, as it deems appropriate m its sole discretion.
<br /> la in its sole discretion, initiate a civil action in the United States District Court,
<br /> ection 16. The Bank n y, , ' ees
<br /> � . . an costs and attorneys f
<br /> • -the funds disbuised and y
<br /> ' ois a amst the Member to iecovei
<br /> Northern D
<br /> istrict of Illm g
<br />' incurred by the Banlc in connection with such action. MeinUer consents to jurisdiction and venue in said court.
<br /> 5ection 17. The Member, Project Sponsor and/or other pai-ry shall iilclude the name of the Banlc in any press
<br /> . related to the Project. Such Publicity shall
<br /> • iereto Publici ), .
<br /> Zaterials or an hing similai tl ( tY , ,
<br /> release,inarlcetmg n YC iled deseri tion of the B anlc s i ole in
<br /> . sufficientl deta p
<br />� specifically in
<br /> clude the name of the Banlc aud an accurate and y ,
<br /> tuther rior to any dissemination of the Publicity,the Publicity shall be�novided to the Banlc s
<br /> Pro'ect. F ,p
<br /> the �
<br /> and a>>roval.
<br /> Comzllunity I�Ivestment Group for theu•review 11
<br /> Sectio►� 18. Each of the Member and the Project Sponsor hereby represent and warrant to the Banlc that:
<br /> (a)the eYecution and delivery of this Agreement and the Application, aud compliance by such party
<br /> with all provisions of this Agreement(i)are within the power aud authority of such party, and(ii)have been duly
<br /> authorized Uy all requisite corporate proceedings;
<br /> (b)this Abreementi has been duly executed and delivered by such party, and constitutes a valid and
<br /> binding agreement of such party, enforceaUle in accordance witl� its terms; and
<br /> (c)the execution and delivery of this Agreement shall not coirflict with or result in a breaeh of
<br /> terms, conditions oz�provisions of, give rise to a right of termiilation tulder, constitute a default under, or result in
<br /> any violation of its articles of incorporation or association,bylaws, oz' similar instruments, or any mortgage,
<br /> assignmeni, contract, instrument, order,judgment, decree, or cuz-rent statute,law, rule or rebulation to which such
<br /> party or any of its respective assets is subject.
<br /> Sec�ion �9. The pai-�ies agree that this Agreement may be iransmitted bei��een them by facsimile inachine.
<br /> Deliveiy of an executed couuterpart of this Agreement Uy facsimile shall be equally as effective as delivery of a
<br /> manuall}� executed counterpart of this A�reement. Any party delivering an executed counterpai-t of this Agreement
<br /> by facsimile shall also deliver a manually executed counterpart of this Agreement, but failure to deliver a inanually
<br /> eaecuted countei-part shall not aifect the validity, enforceabilit}� oi•binding eI'fect of this l3greement. This
<br /> Agreement may be e�>ecuted in any uumber of counteiparts, each of«rhich;���hen so executed shall be deeuled an
<br /> origival, bui all of which talcen together shall Ue one and the same instrument.
<br /> -,
<br /> 279�35
<br /> Ponn No. ?00-032 (I?/2010) '
<br />
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