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the Borrower on the Project are made or done by the Borrower on its own behalf and not as agent <br /> or contractor for the City. <br /> Completion Date. The Borrower shall notify the City of the Completion Date for <br /> the Project by a certificate signed by the Designated Representative stating: <br /> (a) the date on which the Project is substantially completed, which shall be evidenced <br /> by the issuance of a certificate of occupancy by the City, if the City provides such certificates of <br /> occupancy, <br /> (b) that all other facilities necessary in connection with the Project have been acquired, <br /> constructed,equipped and improved, and <br /> (c) that the acquisition, construction, equipment and improvement of the Project and <br /> those other facilities have been accomplished in such a manner as to conform with all applicable <br /> zoning, planning,building, environmental and other similar governmental regulations. <br /> The certificate shall be delivered as promptly as practicable after the occurrence of the <br /> events and conditions referred to in subsections(a)through(c)of this Section(the date of delivery <br /> of such certificate being, the "Completion Date"). The Project must be completed prior to the <br /> Mandatory Project Completion Date. <br /> ARTICLE IV. <br /> LOAN BY CITY; FORGIVENESS OF THE LOAN <br /> Loan. The City hereby makes the Loan to the Borrower. Subject to the terms and <br /> conditions hereof, the Loan shall bear no interest and shall be secured by the Note. The Loan shall <br /> be non-recourse against the Borrower and the Project. The Loan proceeds shall be disbursed to <br /> the Borrower on a draw basis as provided herein. <br /> (a) Payment of Principal,Premium and Interest. (a) Subject at all times to Section 4.3 <br /> hereof, the Borrower will duly and punctually pay the principal of, premium, if any, and interest <br /> on the Note at the rates, at the times and the places and in the manner mentioned in the Note and <br /> this Agreement according to the true intent and meaning thereof and hereof, until the principal of, <br /> premium, if any, and interest on the Note shall have been fully paid. <br /> (b) Subject at all times to Section 4.3 hereof, the Borrower also agrees to pay (i) all <br /> expenses incurred in connection with the enforcement of any rights under this Agreement; and <br /> (ii) all other payments of whatever nature which the Borrower has agreed to pay or assume under <br /> the provisions of this Agreement; provided, however, that the Borrower may, without creating a <br /> default under this Agreement, contest in good faith the necessity for any such extraordinary <br /> services and extraordinary expenses and the reasonableness of any such fees,charges or expenses. <br /> (c) Subject at all times to Section 4.3 hereof, the Borrower covenants and agrees with <br /> and for the express benefit of the City that all payments pursuant hereto and to the Note shall be <br /> made by the Borrower on or before the date the same become due,and the Borrower shall perform <br /> all of its other obligations,covenants and agreements hereunder,without notice or demand(except <br /> 7 <br />