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IX.AUTHORIZATION OF APPLICANT FOR RELEASE OF INFORMATION
<br />The Applicant, ________________________________________, has requested information about submission of an application
<br />to the Revolving Business Enterprise Fund of South Bend IN. As part of the documentation required to consider this loan
<br />request, the RBEF requires that the Applicant execute this Authorization.
<br />Applicant grants the City of South Bend, its agents and its assignees authorization to obtain a Consumer Credit Report for
<br />guarantors during its determination of credit eligibility. Applicant also authorizes the City of South Bend to share information
<br />received with its agents and assignees as relevant during the various stages of the loan underwriting process and subsequent
<br />processes.
<br />Please be advised that your loan request is submitted to the RBEF Staff Director for analysis and if determined to
<br />merit consideration is then submitted to the RBEF Board for final approval. Members of the RBEF Board are self-employed,
<br />employed by or partners, shareholders or members of local area businesses, community organizations and government agencies.
<br />As a result of their respective employment relationships, one or more of the RBEF Board members may have knowledge of
<br />matters affecting the credit standing of your business, its officers, directors, shareholders, partners or owners or prospective
<br />guarantors (“Business Group”). In order to fulfill their fiduciary duties to the RBEF, these Board members must be able to
<br />freely share information regarding your Business Group [or any member of your Business Group] whenever such
<br />information may be relevant to the consideration of your Application by the RBEF.
<br />Further, through their positions as members of the RBEF Board, these persons may acquire information regarding your Business
<br />Group [or any member of your Business Group] which may later impact dealings with their respective employers. In order to fulfill
<br />their obligations as employees of their respective employers these Board members must be able to freely share information
<br />regarding your Business Group [or any member of your Business Group] whenever such information may be relevant to business
<br />issues of their employers.
<br />The RBEF works closely with various local area banks. If your application contemplates a loan with any area bank in conjunction
<br />with a loan from the RBEF, the RBEF and your lender bank must be able to freely share information regarding your Business
<br />Group [or any member of your Business Group] whenever such information may be relevant to lending issues of the RBEF or your
<br />bank.
<br />By executing and delivering this Authorization to the RBEF, the Applicant hereby authorizes and agrees to permit the RBEF, its
<br />Board members, and your lender bank to exchange credit information regarding your Business Group [or any member of your
<br />Business Group] at any time during the application process, or, in the event a loan is made to your business, any time thereafter.
<br />Applicant acknowledges that this information may include information including, but not limited to, personal consumer credit
<br />history and may be privileged or confidential, and further acknowledges that this authorization constitutes a release of the
<br />obligation of the party possessing such information to keep it confidential as between and among the RBEF, its Board
<br />members, their respective employers and your lender bank, and this release shall be effective regardless of whether Applicant
<br />receives a loan from the RBEF. Applicant further understands that RBEF may require correspondence to various sources that
<br />have reporting capabilities to verify accuracy of information received.
<br />1.It is the Borrower’s responsibility to provide to RBEF all information requested by RBEF as part of its consideration of the loan
<br />application of Borrower. Further, should RBEF issue a commitment to make a loan to Borrower, it shall be Borrower’s
<br />responsibility to provide all documentation requested by RBEF for the purpose of consummating such loan to Borrower.2.Borrower’s application accurately describes the project for which Borrower is seeking funding through a loan to be made by RBEF. RBEF
<br />is no way responsible for the design, construction, equipping or operation of the project, or any aspect thereof. The choice of the architects,
<br />engineer, builder, lawyer, accountant, bank and any other party providing assistance to Borrower in the implementation of Borrower’s
<br />project are solely Borrower’s choices. Decisions about the appropriateness of purchasing a particular piece of equipment as opposed to
<br />another, the decision to purchase new equipment versus used equipment, the decision to construct a building as opposed to the
<br />purchase of an existing building, and all such decisions relating to the project for which Borrower seeks funding, are the Borrower’s. THE
<br />RBEF MAKES NO REPRESENTATIONS OR WARRANTIES REGARDING MERCHANTABILITY OR FITNESS FOR THE PARTICULAR
<br />ASSETS PROPOSED TO BE PURCHASED BY BORROWER FOR A PARTICULAR PURPOSE. The RBEF shall rely upon Borrower
<br />to have conducted all investigations Borrower believes necessary to satisfy itself as to the appropriateness and functionality of the project
<br />assets proposed to be funded in part or in whole through the RBEF loan.3.RBEF shall perform such reviews and conduct such investigations as RBEF shall determine, in its sole discretion, to satisfy its due diligence
<br />requirements for completing a loan to Borrower. RBEF shall rely upon the information, representations, and warranties made by Borrower in
<br />its application to RBEF and in any documentation or other information provided by Borrower pursuant to RBEF’s consideration of a loan
<br />for Borrower. No review, investigation or inquiry made or performed by RBEF shall in any way negate RBEF’s reliance upon the
<br />information, representations and warranties made by Borrower to RBEF.
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