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<br /> <br /> <br /> 3 <br />written certificate furnished to the City and signed on behalf of the Borrower by a duly authorized <br />officer. That certificate may designate an alternate or alternates. In the event that all persons so <br />designated become unavailable or unable to act and the Borrower fails to designate a replacement <br />within 10 days after such unavailability or inability to act, the City may appoint an interim <br />Designated Representative until such time as the Borrower designates that person. <br /> “Development Agreement” means the Development Agreement, dated as of the date <br />hereof, by and between the Borrower and the City of South Bend, Department of Redevelopment, <br />acting by and through its governing body, the Redevelopment Commission. <br />“Event of Default” means any of the events described as an Event of Default in Section 6.1 <br />hereof. <br />“Land Use Restriction Agreement” means that certain Land Use Restriction Agreement or <br />similar agreement to be executed by the Borrower, as the same may be amended, restated, <br />supplemented or otherwise modified from time to time, imposing certain income and rent <br />restrictions on the Project pursuant to Section 42 of the Internal Revenue Code of 1986, as <br />amended. <br />“Loan” means the loan by the City to the Borrower pursuant to the terms of this Agreement. <br />“Mandatory Project Completion Date” means December 31, 2029, or as agreed to by the <br />Borrower or the Redevelopment Commission pursuant to Section 3.3 of the Development <br />Agreement, subject to the Unavoidable Delay provisions of Section 7.12 of this Agreement and <br />Force Majeure provisions of Section 6.2 of the Development Agreement. <br />“Maturity Date” means December 31, 2056. <br />“Note” means the Borrower’s promissory note in the form attached as Exhibit A hereto, <br />which shall be unsecured. <br />“Notice Address” means: <br />As to the City: City of South Bend Department of Community <br />Investment <br />215 S. Dr. Martin Luther King, Jr. Blvd., Suite 500 <br />South Bend, IN 46601 <br />Attention: Executive Director <br /> <br />With a copy to: South Bend Legal Department <br /> 215 S. Dr. Martin Luther King, Jr. Blvd., Suite 600 <br /> South Bend, IN 46601 <br /> Attn: Corporation Counsel <br /> <br /> As to the Borrower: <br /> Beacon Apartments Preservation LLC