R2005-86 AUTHORIZING LIMITED GUARANTY

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.. . 4 ' . ((i)and(ii)referred to herein as the "Sources") The Lender agrees that it will look solely to such Sources for payment to the Lender as herein provided and that the Guarantor shall not be generally liable to the Lender for any amount payable hereunder and no assets or revenue of the Guarantor are available other than as provided herein. The Lender agrees in the case of any liability of the Guazantor hereunder that it will look solely to the Sources; provided, however, that the foregoing shall not be deemed to be an exculpation of the Developer and shall in no way limit the Developer' recourse liability. In furtherance of the foregoing, and not in limitation thereof, notwithstanding anything to the contrary herein, this Limited Guaranty does not and shall not pledge the general credit or taxing power of the Guarantor and nothing herein shall constitute a general obligation, debt or bonded indebtedness of the Guarantor, and further, nothing herein gives the Lender or any other party, and none of them has, the right to have excises or taxes levied by the Guarantor, or by the State of Illinois or the taxing authority of any other political subdivision, municipality or other local agency thereof for the payment of amounts due hereunder. 6. The Guarantor will provide to the Lender a copy of the budgets for the Section 108 CDBG Loan Guarantee Program and the Near North Redevelopment Project Area TIF or any other funding sources Guarantor intends to cover the Guaranty. It is understood that these budgets will demonstrate that sufficient funds exist to meet Guarantor's obligations under the Loan Guaranty. Guarantor will take all reasonable and necessary steps to insure that sufficient funds are available to meet its obligations to the Lender. It is recognized that these funds aze subject to the review and oversight of regulatory agencies and the use of such funds to meet obligations of the Guazantor or for any other purposes are subordinate to the rules, regulations and applicable statutes governing the uses of these funds under the oversight of appropriate regulatory agencies. Guarantor shall inform Lender of any change in the availability of these funds and rules affecting the use of such funds to meet obligations of the Loan Guazanty and if needed,the steps it is taking to meet ' obligations under the Loan Guaranty. Dated thi�� day of ,2005. GUARANTOR: City of Decatur By: 'l��i� Paul Osborne,Mayor � gy. �.� � Celeste Harris, City erk {DOOG4860.DOC/6 Limited Guaranty 198 017901}