37-26 Authorizing the City to Fund Its Taxable Economic Development Revenue Note, Series 2026 (Beacon Heights Project) and Approving and Authorizing Other Actions in Respect Thereto (Substitute)

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includes that section,provision or chapter or statute as amended, modified, revised, supplemented or superseded from time to time;provided,that no amendment,modification,revision,supplement or superseding section, provision or chapter or statute shall be applicable solely by reason of this provision, if it constitutes in any way an impairment of the rights or obligations of the City or the Borrower under this Agreement. Unless the context indicates otherwise, words importing the singular number include the plural number, and vice versa; the terms "hereof', "hereby", "herein", "hereto", "hereunder"and similar terms refer to this Agreement; and the term "hereafter" means after, and the term "heretofore" means before, the date of the Loan. Words of any gender include the correlative words of the other genders, unless the sense indicates otherwise. The Form of Promissory Note, attached hereto as Exhibit A, is by reference made a part hereof. Section 1.4. Captions and Headings. The captions and headings in this Agreement are solely for convenience of reference and in no way define, limit or describe the scope or intent of any Articles, Sections, subsections,paragraphs, subparagraphs or clauses hereof. ARTICLE II. REPRESENTATIONS; LOAN TO THE BORROWER Section 2.1. Representations of the City. The City represents and warrants that: (a) The City is a municipal corporation organized and existing under the laws of the State. Under the provisions of the Act, the City is authorized to enter into the transactions contemplated by this Agreement and to carry out its obligations hereunder. The City has been duly authorized to execute and deliver this Agreement. (b) The City agrees to make the Loan to the Borrower in the amount of not to exceed $1,250,000 pursuant to the terms and conditions hereof and the Development Agreement for the costs associated with the acquisition, construction, reconstruction and/or rehabilitation of the Project to create additional employment opportunities in the City and to benefit the health, safety, morals and general welfare of the citizens of City and the State. Section 2.2. Representations and Covenants of the Borrower. The Borrower represents and warrants, as of the date hereof, that: (a) It is an Indiana limited liability company duly organized and validly existing under the laws of the State and authorized to do business in the State, is not in violation of any laws in any manner material to its ability to perform its obligations under this Agreement and the Note, has full power to enter into and perform its obligations under this Agreement and the Note, and by proper action has duly authorized the execution and delivery of this Agreement and the issuance of the Note. 5