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certificate being, the "Completion Date"). The Project must be completed prior to the Mandatory
<br /> Project Completion Date.
<br /> ARTICLE IV.
<br /> LOAN BY CITY; FORGIVENESS OF THE LOAN
<br /> Section 4.1. Loan. The City hereby makes the Loan to the Borrower. Subject to the terms
<br /> and conditions hereof,the Loan shall bear no interest and shall be evidenced by the Note. The Loan
<br /> shall be non-recourse against the Borrower and the Project. The Loan proceeds shall be disbursed
<br /> to the Borrower on a draw basis as provided herein.
<br /> Section 4.2. Payment of Principal, Premium and Interest. (a) Subject at all times to
<br /> Section 4.3 hereof,the Borrower will duly and punctually pay the principal of,premium, if any,and
<br /> interest on the Note at the rates, at the times and the places and in the manner mentioned in the Note
<br /> and this Agreement according to the true intent and meaning thereof and hereof, until the principal
<br /> of, 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(ii) all
<br /> other payments of whatever nature which the Borrower has agreed to pay or assume under the
<br /> provisions of this Agreement; provided, however, that the Borrower may, without creating a default
<br /> under this Agreement, contest in good faith the necessity for any such extraordinary services and
<br /> 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 /> as provided herein), and without abatement, deduction, reduction, diminution, waiver, abrogation,
<br /> set-off, counterclaim, recoupment, defense or other modification or any right of termination or
<br /> cancellation arising from any circumstance whatsoever, whether now existing or hereafter arising,
<br /> and regardless of any act of God,contingency,event or cause whatsoever, and irrespective(without
<br /> limitation)of whether the Project or the Borrower's title to the Project or any part thereof is defective
<br /> or nonexistent, or whether the Borrower's revenues are sufficient to make such payments, and
<br /> notwithstanding any damage to, or loss, theft or destruction of, the Project or any part thereof,
<br /> expiration of this Agreement, any failure of consideration or frustration of purpose, the taking by
<br /> eminent domain or otherwise of title to or of the right of temporary use of, all or any part of the
<br /> Project, legal curtailment of the Borrower's use thereof, or whether with or without the approval of
<br /> the City, any change in the tax or other laws of the United States of America, the State of Indiana,
<br /> or any political subdivision of either thereof, any change in the City's legal organization or status,
<br /> or any default of the City hereunder, and regardless of the invalidity of any portion of this
<br /> Agreement; and the Borrower hereby waives the provisions of any statute or other law now or
<br /> hereafter in effect impairing or conflicting with any of its obligations,covenants or agreements under
<br /> this Agreement or which releases or purports to release the Borrower therefrom. Nothing in this
<br /> Agreement shall be construed as a waiver by the Borrower of any rights or claims the Borrower may
<br /> have against the City under this Agreement or otherwise, but any recovery upon such rights and
<br /> claims shall be had from the City separately, it being the intent of this Agreement that the Borrower
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