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10963-23-Ordinance Authorizing the Acquisition and Construction of Certain Additions and Improvements to the Municipal Waterworks of the City of South Bend
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10963-23-Ordinance Authorizing the Acquisition and Construction of Certain Additions and Improvements to the Municipal Waterworks of the City of South Bend
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as set forth below in the manner provided for herein. Notice to the Finance Authority shall be <br /> addressed to: <br /> Indiana Finance Authority <br /> SRF Programs <br /> 100 North Senate, Room 1275 <br /> Indianapolis, Indiana 46204 <br /> Attention: Director of Environmental Programs <br /> or at such other address(es)or number(s)and to the attention of such other person(s)as the Finance <br /> Authority may designate by notice to the Participant. Notices to the Participant shall be addressed <br /> to: <br /> City of South Bend <br /> City-County Building <br /> 227 W. Jefferson Boulevard <br /> South Bend, Indiana 46601 <br /> Attention: Controller <br /> or at such other address(es) or number(s) and to the attention of such other person(s) as the <br /> Participant may designate by notice to the Finance Authority. Any notice hereunder shall be <br /> deemed to have been served or given as of(a) the date such notice is personally delivered, (b) three <br /> (3) Business Days after it is mailed U.S. mail, First Class postage prepaid, (c) one (1) Business <br /> Day after it is sent on such terms by Federal Express or similar next-day courier, or (d)the same <br /> day as it is sent by facsimile transmission with telephonic confirmation of receipt by the person to <br /> whom it is sent. <br /> Section 5.09. Expenses. The Participant covenants and agrees to pay (a) the fees, costs <br /> and expenses in connection with making the Loan, including issuing the Bonds and providing the <br /> necessary certificates, documents and opinions required to be delivered therewith; (b) the fees, <br /> costs and expenses in connection with making and administering the Loan; (c) the costs and <br /> expenses of complying with its covenants made herein; and (d) any and all costs and expenses, <br /> including attorneys' fees, incurred by the Finance Authority in connection with the enforcement <br /> of this Agreement, the Authorizing Instrument and the Bonds in the event of the breach by the <br /> Participant of or a default under this Agreement, the Authorizing Instrument or the Bonds. <br /> Notwithstanding clause (b) above, the Participant shall not be obligated to pay any of the fees, <br /> costs and expenses in connection with administering the Loan except as follows: (1) the Finance <br /> Authority may request and the Participant shall promptly pay (no later than the date first above <br /> written), a closing fee in connection with the Loan in an amount determined by the Finance <br /> Authority, but not exceeding $1,000, which may not be paid from a Loan disbursement; (2) the <br /> Finance Authority may request and the Participant shall promptly pay (no later than thirty (30) <br /> days after any request), an annual administrative fee in connection with the Loan in an amount <br /> determined by the Finance Authority, but not exceeding $1,000, which may not be paid from a <br /> Loan disbursement; (3) the Finance Authority may request and the Participant shall promptly pay <br /> (no later than thirty (30) days after any request), a Non-Use Fee in connection with the Loan, <br /> which may not be paid from a Loan disbursement; (4) for so long as the Finance Authority is the <br /> registered owner of the Bonds, at the direction of the Finance Authority, the interest rate on the <br /> Bonds may be adjusted to lower the interest rate on the Bonds, and the difference between the <br /> amount payable as the original rate on the Bonds and the lower rate shall be deemed an additional <br /> administrative fee in connection with the Drinking Water SRF Program; and (5) the Participant <br /> shall only be obligated to pay fees, costs and expenses of the Finance Authority's counsel and <br /> financial advisers in connection with making the Loan up to $10,000, which may be paid from a <br /> Loan disbursement. <br /> Section 5.10. Applicable Law. This Agreement shall be construed in accordance with <br /> and governed by the laws of the State of Indiana. <br /> Section 5.11. Term. This Agreement shall terminate at such time as the Participant has <br /> fully met and discharged all of its obligations hereunder, which term may extend beyond the final <br /> payment of the Bonds or provision for the payment of the Bonds pursuant to the Authorizing <br /> Instrument. <br /> B-18 <br />
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