EDC Packet 9.18.2025 - Laserfiche WebLink

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2 NOW, THEREFORE, in consideration of the premises and the mutual representations and agreements hereinafter contained, the City and the Borrower agree as follows: ARTICLE I. DEFINITIONS Section 1.1. Use of Defined Terms. In addition to the words and terms defined elsewhere in this Agreement or by reference to another document, the words and terms set forth in Section 1.2 hereof shall have the meanings set forth therein unless the context or use clearly indicates another meaning or intent. Such definitions shall be equally applicable to both the singular and plural forms of any of the words and terms defined therein. Section 1.2. Definitions. As used herein: “Act” means, collectively, Indiana Code 36-7-11.9 and 36-7-12, as enacted and amended. “Agreement” means this Financing and Loan Agreement as amended or supplemented from time to time. “Borrower” means New Day Intake Center, Inc., an Indiana nonprofit corporation, and its lawful successors and assigns to the extent permitted by this Agreement and the Development Agreement. “City” means the City of South Bend, Indiana, a municipal corporation and political subdivision existing under the laws of the State of Indiana. “Common Council” means the Common Council of the City. “Completion Date” means the date of completion of the Project evidenced in accordance with the requirements of Section 3.2 hereof. “Designated Representative” means Sheila McCarthy or the person at the time designated to act on behalf of the Borrower by written certificate furnished to the City, containing the specimen signature of that person and signed on behalf of the Borrower by a duly authorized officer. That certificate may designate an alternate or alternates. In the event that all persons so designated become unavailable or unable to act and the Borrower fails to designate a replacement within 10 days after such unavailability or inability to act, the City may appoint an interim Designated Representative until such time as the Borrower designates that person. “Development Agreement” means the Development Agreement, dated August 14, 2025, by and between the Borrower and the City of South Bend, Department of Redevelopment, acting by and through its governing body, the Redevelopment Commission. “Event of Default” means any of the events described as an Event of Default in Section 6.1 hereof. “Loan” means the loan by the City to the Borrower pursuant to the terms of this Agreement.