Laserfiche WebLink
(b) Under the Constitution of the State of Illinois and the Act, the Issuer has the power <br /> and authority to enter into, execute and deliver this Loan Agreement, the Assignment, the <br /> Mortgage, the Assignment of Rents and Leases, the Bond Purchase Agreement, the Bond <br /> Registrar and Paying Agent Agreement and the Arbitrage Regulation Agreement, to perform its <br /> obligations under and consummate the transactions contemplated by this Loan Agreement and the <br /> Assignment, to issue the Bonds, to loan the proceeds thereof to the Company to finance the <br /> Project and to endorse the Note without recourse to the Assignee, and the Issuer is not in <br /> violation of any of the laws of the State that might affect its existence or the power and authority <br /> referred to in this subparagraph. <br /> (c) The Issuer has duly authorized the execution and delivery of this Loan Agreement, the <br /> Assignment, the Arbitrage Regulation Agreement, the Bond Purchase Agreement, the Bond <br /> Registrar and Paying Agent Agreement and the Bonds and has authorized the endorsement of the <br /> Note to the Assignee, all for purposes set forth in the Act. <br /> (d) This Loan Agreement, the Assignment, the Arbitrage Regulation Agreement, the <br /> Bond Purchase Agreement, the Bond Registrar and Paying Agent Agreement and the Bonds are <br /> special and limited obligations of the Issuer and shall not be deemed a pledge of the faith and <br /> credit of the Issuer, the State or any other political subdivision thereof within the meaning of any <br /> constitutional or statutory provision but shall be payable solely from the revenues and other <br /> amounts derived by the Issuer from this Loan Agreement or otherwise from the Project. <br /> (e) The issuance of the Bonds and the loan of the proceeds thereof as set forth herein will <br /> further the public purposes of the Act. <br /> (fl All governmental approvals required by the Act in connection with the Project and the <br /> issuance of the Bonds have been obtained. <br /> (g) Neither the execution and delivery of this Loan Agreement, the Assignment, the <br /> Arbitrage Regulation Agreement, the Bond Purchase Agreement and the Bond Registrar and <br /> Paying Agent Agreement, nor the Issuer's endorsement of the Note to the Assignee, the <br /> consummation of the transactions contemplated hereby or thereby, nor the fulfillment of or <br /> compliance with the terms and conditions of this Loan Agreement, the Arbitrage Regulation <br /> Agreement, the Bond Purchase Agreement, the Bond Registrar and Paying Agent Agreement and <br /> the Assignment conflicts with or results in a breach of the terms, conditions or provisions of any <br /> restrictions or any agreement or instrument to which the Issuer is now a party or by which it is <br /> bound, or constitutes a default under any of the foregoing. <br /> (h) The Issuer has not assigned or pledged and will not assign or pledge its interest in this <br /> Loan Agreement and the Note other than to secure the Bonds. <br /> (i) The Issuer makes no warranty, either express or implied, as to the condition of the <br /> Project or any part thereof or that the Project will be suitable for the Company's purposes and <br /> needs. <br /> 14 <br />