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R2011-07 AUTHORIZING AN AGREEMENT FEDERAL HOME LOAN BANK OF CHICAGO AND BUSEY BANK
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R2011-07 AUTHORIZING AN AGREEMENT FEDERAL HOME LOAN BANK OF CHICAGO AND BUSEY BANK
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Last modified
10/1/2015 10:44:34 AM
Creation date
10/1/2015 10:44:33 AM
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Resolution/Ordinance
Res Ord Num
R2011-07
Res Ord Title
AUTHORIZING AGREEMENT FEDERAL HOME LOAN BANK OF CHICAGO AND BUSEY BANK AFFORDABLE HOUSING PROGRAM
Department
Development Services
Approved Date
1/18/2011
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��cii�rbi� ';�u. The Banl: may fron� time to tinle requ�st il�at the IVlember and/or t1�e Frojeci ���onsor allo`�- the <br /> inspection of any of�the bool<s aild records of tl�e 1Vlember, the 1'rojeci Sponsor and/or tl�e I'roject pertaininb to this <br /> Abreement or tl�e�'roject, and tl�e IViei�lber and/or ille Project Sponsor sl�all allo«- sticl� inspections und access tc� <br /> sucl� boolcs and records at reasonable times durinb ihe norma] business hours of the I�/�en�ber and/or tlie Project <br /> Sponsor �uid upou reasonable terms v��itl�out disruption to the normal business operations of the 1Vlenlber �u�d/or Yhe <br /> Project Sponsoi•. <br /> Se��icjiu ��. This Agreement constitutes the entiire agreemeni between the parties and supersedes any and all <br /> pi•ioi-agi-eemeuis or undeistandings, verbal or writCen, bet��,�een il�e parties ���ith respect to the subject matler hei�eof <br /> (other tllan tlie Applicafion). This Agi•eement shall not be ainended, changed, moclil"ied, terminated or dischargeci <br /> in whole or iu part, and the perform�uice of any obligation hereunder may noi be ��aivecl, e�cept by an instrument <br /> in writing signed by the parties hereto, or their respective successors or permitted assi�ns, or otl�erwise as provided <br /> l�ereiii. <br /> �ec:�ion 220 l�leither-the Member noi�the Project Sponsoi�may assigu this a�i-eement without the consenc of the <br /> Banlc, and this Agreement shall bind any successors or permitted assibus of the parties hereto. <br /> S���IOIfl 23. The invalidit�� or unenforceability oF any provision of this Agreement shall uot affect the validity <br /> of any other provision, and all other provisions shall reinain in full force aud effect. <br /> �ection 2�. l',ny forbearance by a party to this Agreement in eYercising any right or remedy tmder this <br /> Agreement or otherwise afforded by applicable laws shall not be a waiver of or preclude the e�ercise of that or any <br /> other right or remedy. <br /> Sectiote 2�. If there (a) are nlultiple Members as parties to this Agreement,the duties, oblibations and <br /> liabilities of eacl� such Member hereunder are joint and several amonb such Menibers; and (b) are multiple Project <br /> Sponsors as parties to this A��eement,the obli�ations and liaUilities of each such Project Sponsor hereuuder are <br /> joint and several among sucl�Project Sponsors. <br /> Section 26. The Banlc is not a pai-lner or joint ventttrer�vith the IVIembei-or the Project Sponsor, ai�.d nothizlg <br /> herein shall be construed to malce the Bank a partner or joint venturer with either of them or impose any liability as <br /> such on the Banlc. <br /> Seetioia 27, All defined terms contained in this Agreement, includin�"Member" and"Project Spoz�sor" are <br /> equally applicable to the singular and plural forms of the tez-ms derined. All references to statutes and regulations <br /> shall it�clude any amendments of the sanle and any successor statutes aud re�ulations. <br /> �L'CZLOIl ZS. This�greement shall be governed Uy, construed under aud interpreted iil accordance���ith the la���s <br /> of the State of Illinois ���ithout regard to principles of conflicts of laws. <br /> �R�Td1f�IND�R OF PAGE L�FT INT�NTIOl�ALLY BLANIC] <br /> l�u���n l�u. ?OG-03� (l�i2U10) `� �79�;� <br />
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