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Section 5.1. Conditions Precedent to Agreement. Notwithstanding any other <br /> provision herein, this Agreement shall be conditioned upon: <br /> (a) the Owner having legal title to the Property; and <br /> (b) the Owner executing and recording the Extended Use Agreement providing for a <br /> total term of the low-income housing affordability restrictions of at least thirty(30)years. <br /> Section 5.2. Captions; Incorporation and Exhibit. The captions and headings of <br /> various Sections and Exhibits referenced herein are for convenience only and are not to be <br /> considered as defining or limiting in any way the scope or intent of the provisions hereof. <br /> Notwithstanding the foregoing, each of the Recitals and the Exhibits referenced herein are <br /> incorporated and expressly made a part hereof. <br /> Section 5.3. Entire Agreement. This PILOT Agreement constitutes the entire <br /> agreement of the Parties with respect to the subject matter contained herein, and all prior <br /> discussions, negotiations, and document drafts are merged herein. <br /> Section 5.4. Notices. Any notice, demand, request, or other communication which any <br /> Party hereto may be required or may desire to give hereunder shall be in writing, addressed as <br /> follows and shall be deemed to have been properly given if hand delivered (effective upon <br /> delivery), if sent by reputable overnight courier, charges prepaid (effective the business day <br /> following delivery to such courier): <br /> If to Owner: Beacon Apartments Preservation LLC <br /> 1865 Palmer Ave. FI 2ND <br /> Larchmont, NY 10538 <br /> Attention: Jeffrey Moelis, Managing Director <br /> Telephone: (212)233-0495 x109 <br /> Email: imoelis 2i lmpd.com <br /> With a copy to: Matthew Carr <br /> FBT Gibbons LLP <br /> 111 Monument Circle, Suite 4500 <br /> Indianapolis, IN 46204 <br /> If to City: City of South Bend, Indiana <br /> South Bend City Hall <br /> 215 S. Dr. Martin Luther King Jr. Blvd., Suite 500 <br /> South Bend, Indiana 46601 <br /> Attn: Executive Director, South Bend Department of Community <br /> Investment <br /> With a copy to: South Bend Legal Department <br /> 215 S. Dr. Martin Luther King Jr. Blvd., Suite 600 <br /> South Bend, Indiana 46601 <br /> 5 <br />