R2003-116 AUTHORIZING FUNDING AGREEMENT

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� � . � - 8. Special Conditions. (a) In the event the public entity fails to submit notes or other obligations for inspection and guarantee by the Secretary of the Department of Housing and Urban Development(the "Secretary")before August 31, 2004, the commitment will terminate and expire as of such date. (b) The repayment schedule for the Guaranteed Loan must be acceptable to the Secretary. (c) Pursuant to 24 CFR §570.705(b)(3), the public entity shall provide additional security for the guaranteed loan and such additional security must be acceptable to the Secretary. The additional security shall be identified in the Contract for Loan Guarantee Assistance specified by 24 CFR §570.705(b)(1), which will be executed at the time the guaranteed obligations are issued. (d) Prior to submitting notes or other obligations for inspection and guarantee by the Secretary, the public entity shall submit information required under Section 102(b) of the Department of Housing and Urban Development Reform Act of 1989 (42 U.S.C. 3531). This information shall be submitted on Form HLTD-2880 , to HUD's Illinois State Office. (e) The public entity shall not incur any obligations to be paid with guaranteed loan funds, other than for activities undertaken pursuant to 24 CFR §§ 570.703(1) and 570.208(a)(1)(i),priar to the receipt of a written determination from the HUD Illinois State Office with respect to each activity to be undertaken with guaranteed loan funds that such activity: (i) will meet the national objectives requirements of 24 CFR §570.208; (ii) is eligible pursuant to 24 CFR §570.703 and, (iii) will meet the public benefit standards of 24 CFR §570.209(b), if applicable. (� Any amount of this commitment that is not received by the applieant as an Advance under the Guaranteed Loan by�z temher 3�, 2�ORrwi11 be canceled in compliance with 31 USC 1552(a).