This page uses extracted PDF text. Text can misread numbers, dates or table columns. Check the PDF before quoting or interpreting it. Redacted areas remain redacted.
Section 7.4 Agreement to Pay Attorneys’ Fees and Expenses. As further provided in
Section 4.2 hereof, if the Issuer or the Trustee should incur expenses, including attorneys’ fees, in
connection with the enforcement of this Loan Agreement, the Regulatory Agreement, or the Promissory
Note or the collection of sums due thereunder, the Borrower shall reimburse the Issuer and the Trustee, as
applicable, for the expenses so incurred upon demand.
Section 7.5 No Waiver. No failure by the Issuer or the Trustee to insist upon the strict
performance by the Borrower of any provision hereof shall constitute a waiver of their right to strict
performance and no express waiver shall be deemed to apply to any other existing or subsequent right to
remedy the failure by the Borrower to observe or comply with any provision hereof.
Section 7.6 Notice of Default. The Borrower shall notify the Trustee immediately if it
becomes aware of the occurrence of any Event of Default hereunder or of any fact, condition or event
which, with the giving of notice or passage of time or both, would become an Event of Default.
Section 7.7 Investor Limited Partners’ Cure Rights. The Issuer hereby agrees that any cure
of any Event of Default hereunder made or tendered by the Federal Investor Limited Partner or the State
Historic Tax Credit Equity Investor shall be deemed to be cured by the Borrower and shall be accepted or
rejected by the Issuer on the same basis as if made or tendered by the Borrower.
ARTICLE VIII
MISCELLANEOUS
Section 8.1 Term of Agreement. This Loan Agreement shall be and remain in full force and
effect from the date of delivery of the Bonds to the Holder until such time as all of the Bonds shall have
been fully paid (or provision made for such payment) pursuant to the Indenture and all other sums payable
by the Borrower under this Loan Agreement and the Promissory Note shall have been paid, except for
obligations of the Borrower under Sections 3.9, 4.2, and 5.3 hereof, which shall survive any termination of
this Loan Agreement.
Section 8.2 Amounts Remaining in Funds. Any amounts in the Bond Fund remaining
unclaimed by the Holders of Bonds for two (2) years after the due date thereof (whether at stated maturity
or otherwise), at the option of the Borrower, shall be deemed to belong to and shall be paid, at the written
request of the Borrower, to the Borrower by the Trustee as overpayment of Loan Payments. With respect
to that principal of and interest on the Bonds to be paid from money paid to the Borrower pursuant to the
preceding sentence, the Holders of the Bonds entitled to such money shall look solely to the Borrower for
the payment of such money. Further, any amounts remaining in the Bond Fund, the Project Fund and any
other special funds or accounts created under this Loan Agreement, the Regulatory Agreement, or the
Indenture after all of the Outstanding Bonds shall be deemed to have been paid and discharged under the
provisions of the Indenture and all other amounts required to be paid under this Loan Agreement, the
Promissory Note, the Regulatory Agreement, and the Indenture have been paid, shall be paid to the
Borrower to the extent that such money is in excess of the amounts necessary to effect the payment and
discharge of the outstanding Bonds.
20Jump to an indexed page (744 of 744)