Borrower's Obligation. This Note evidences Xxxxxxxx's obligation to repay Holder the principal amount of One Million Four Hundred Twelve Thousand Eight Hundred Twenty-Seven Dollars ($1,412,827) with interest for the funds loaned to Borrower by Holder pursuant to the Loan Agreement.
Borrower's Obligation. This Note evidences Borrower's obligation to repay Holder the principal amount of Dollars ($ ) with interest for the funds loaned to Borrower by Holder pursuant to the Loan Agreement.
Borrower's Obligation. This Note evidences Xxxxxxxx's obligation to repay Holder the principal amount of Seven Hundred Fifty Thousand Dollars ($750,000) for the funds loaned to Borrower by Holder to finance the construction of the Phase One of the Development pursuant to the HOME Loan Agreement between Borrower and Holder of even date herewith (the "Loan Agreement").
Borrower's Obligation. If any damage to, loss, or destruction of the Property occurs (“Damage”), (A) Borrower shall promptly notify Administrative Agent (to the extent such Damage is in excess of $50,000) and take all necessary steps to preserve any undamaged part of the Property and (B) subject to Administrative Agent’s making Net Proceeds available for Restoration, but regardless of whether any proceeds are sufficient, Borrower shall promptly commence and diligently pursue to completion the restoration, replacement, and rebuilding of the Property as nearly as possible to its value and condition immediately prior to the Damage in accordance with plans and specifications approved by Administrative Agent (“Restoration”); provided, however, such plans and specifications shall not require Administrative Agent’s prior approval so long as such Restoration is in material accordance with the original plans and specifications for the Property. With respect to any Restoration, Borrower shall comply with other reasonable requirements established by Administrative Agent to preserve the security of the Security Instrument.
Borrower's Obligation with Respect to Exclusion of Interest Paid on the Bonds. Except to the extent caused by the actions or omissions of Issuer, the Borrower will not take any action, omit to take any action or permit the taking or omission of any action within its control (including, without limitation, making or permitting any use of the proceeds of the Bonds) if taking or omitting to take such action would cause the interest on the Bonds to be included in the gross income of the recipients thereof (other than the income of a "substantial user" of the Project or a "related person" with the meaning of section 147(a) of the Code) for federal income tax purposes. Toward that end, the Borrower covenants that it will comply with all provisions of the Tax Certificate. This provision shall control in case of conflict or ambiguity with any other provision of this Agreement. In furtherance thereof, the Borrower covenants as follows:
Borrower's Obligation. This Note evidences Xxxxxxxx's obligation to repay Holder the principal amount of Two Million Dollars ($2,000,000) with interest for the funds loaned to Borrower by Holder to finance the construction of the Development pursuant to the HOME and HOPWA Loan Agreement between Borrower and Holder of even date herewith (the "Loan Agreement").
Borrower's Obligation. This promissory note (the "Note") evidences Xxxxxxxx's obligation to repay Holder the principal amount of Six Hundred Twenty-Five Thousand Dollars ($625,000) with interest for the funds loaned to Borrower by Xxxxxx to finance the rehabilitation of the Development pursuant to the Development Loan Agreement.
Borrower's Obligation. This promissory note (the "Note") evidences Borrower's obligation to repay Holder the principal amount of Two Million Six Hundred Thirty-Six Thousand Two Hundred Eighty Dollars ($2,636,280) with interest for the funds loaned to Borrower by Holder to finance the rehabilitation of the Development pursuant to the Development Loan Agreement.
Borrower's Obligation. If any Damage or a Taking occurs, then Borrower shall promptly (A) notify Lender of the Damage and take all necessary steps to preserve the Collateral, (B) at Borrower’s expense (1) diligently prosecute any Taking proceedings, (2) consult and cooperate with Lender in handling the Taking proceedings, and (C) subject to Sections 4.1 (o)( ii) - (iv) below and regardless of whether the Net Proceeds are, or Award is, sufficient, commence and diligently (but, unless Lender approves otherwise in writing, no later than 90 days after the Damage occurs) complete the Restoration. Borrower shall comply with Lender’s reasonable requirements to preserve the Collateral. Borrower may not settle any Taking proceedings without Lender’s prior written consent. Lender may (but is not obligated to) participate in all Taking proceedings. Borrower shall sign and deliver all instruments Lender requests in connection with Lender’s participation in any Taking proceeding. All of Lender’s reasonable costs in any Taking proceeding are Additional Costs.
Borrower's Obligation. In connection herewith, and Xxxxxxxx have entered into that certain Purchase and Sale Agreement ("Agreement"), pursuant to which Borrower and the Authority have agreed to purchase the improvements currently existing on the Property ("Improvements"), which consists of a one hundred and thirty-three (133) unit multifamily housing project and related on-site improvements. This promissory note ("Note") evidences Borrower's obligation to pay Lender the Loan. The Loan is in the amount of the Purchase Price, as set forth in Section 1.2 of the Agreement. All capitalized terms not otherwise defined in this Note shall have the meanings set forth in the Ground Lease.
