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11133-24 Economic Development Loan- Lincoln Park Project (Substitute)
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11133-24 Economic Development Loan- Lincoln Park Project (Substitute)
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10/22/2024 9:43:16 AM
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7/31/2024 4:12:05 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
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Agreement shall restrict or otherwise limit (i) any foreclosure by or other transfer of title to any <br />mortgagee or financing party of the Project, or (ii) any transfer of ownership of any interest in the <br />Borrower to such mortgagee or financing party or any constituent owner of the Borrower, and (b) <br />in the event of any such foreclosure by or other transfer of title to any mortgagee or financing <br />party, as permitted in clause (a)(i) above, any such mortgagee or financing party (or any party <br />taking by, through or under any such mortgagee or financing party) shall take title to the Project <br />free and clear of any responsibility, obligation and/or liability under this Agreement and/or the <br />Loan and without liability for the responsibilities, obligations and/or liabilities of the Borrower <br />under this Agreement and/or with respect to the Loan. <br />[Signature Page Follows] <br />14 <br />
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