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Completion executed by IDM and accepted by the City, the Series 2022A Note shall be considered <br />forgiven. Upon (i) the completion of the Facilities, (ii) proof to the City's satisfaction of the <br />expenditure of the total investment set forth in Section 2.2(c), and (iii) the SBCC Opening, as <br />evidenced by an Affidavit of Completion executed by SBCC and accepted by the City, the Series <br />2022B Note shall be considered forgiven. <br />Section 2.3. Series 2022 Note. Concurrently with the execution and delivery hereof, the <br />City is authorizing the Loan to the Borrower and will fund each series of the Loan at such time or <br />times as the representation in Section 2.20) has been met. The Loan is being evidenced by the <br />execution and delivery by the Borrower of the Series 2022 Note substantially in the form attached <br />hereto as Exhibit A-1 and Exhibit A-2. <br />(End of Article II) <br />9 <br />4854-2813-5735.5 <br />