Common use of Loan Clauses Clause in Contracts

Loan Clauses. (a) Subject to the conditions and in accordance with the terms of this FAA, the CWFP hereby agrees to make the Loan and the Municipality agrees to accept the Loan. As evidence of the portion of the Loan made to the Municipality remaining subsequent to the Principal Forgiveness, the Municipality hereby agrees to sell to the CWFP Municipal Obligations in the aggregate principal amount of $623,081. The CWFP shall pay for the Municipal Obligations in lawful money of the United States, which shall be disbursed as provided in this FAA. (b) Prior to disbursement, Loan proceeds shall be held by the CWFP or by the Trustee for the account of the CWFP. Earnings on undisbursed Loan proceeds shall be for the account of the CWFP. Loan proceeds shall be disbursed only upon submission by the Municipality of disbursement requests and approval thereof as set forth in Section 3.06 hereof. (c) The Loan shall bear interest at the rate of zero and 970/1000ths percent (0.970%) per annum, and interest shall accrue and be payable only on Loan principal amounts actually disbursed on the Municipal Obligations, from the date of disbursement until the date such amounts are repaid or forgiven. A description of how the interest rate was determined is included in the Project Manager Summary Page (Exhibit F). (d) Disbursements of Financial Assistance shall generally be made: first, in the form of a Loan disbursement on the Municipal Obligations, which must be at least 5% of the Municipal Obligation amount or $50,000, whichever is less; second, in the form of Loan disbursements that include the applicable percentage of Principal Forgiveness up to $750,000; and third, if the Principal Forgiveness cap has been reached, in the form of Loan disbursements on the Municipal Obligations. Principal Forgiveness will be applied at the time of Loan disbursement. (e) The Municipal Obligations shall include the Loan Disbursement Table (Exhibit C). The actual dates of disbursements shall be reflected as part of the Municipal Obligations. DOA shall make entries as each disbursement is made and as each principal amount is repaid; the CWFP and the Municipality agree that such entries shall be mutually binding. (f) Upon Final Completion of the Project, DOA may request that the Municipality issue substitute Municipal Obligations in the aggregate principal amount equal to the outstanding principal balance of the Municipal Obligations. (g) The Municipality shall deliver, or cause to be delivered, a Municipal Obligation Counsel Opinion to the CWFP concurrently with the delivery of the Municipal Obligations.

Loan Clauses. (a) Subject to the conditions and in accordance with the terms of this FAA, the CWFP hereby agrees to make the Loan and the Municipality agrees to accept the Loan. As evidence of the portion of the Loan made to the Municipality remaining subsequent to the Principal Forgiveness, the Municipality hereby agrees to sell to the CWFP Municipal Obligations in the aggregate principal amount of $623,0811,397,610. The CWFP shall pay for the Municipal Obligations in lawful money of the United States, which shall be disbursed as provided in this FAA. (b) Prior to disbursement, Loan proceeds shall be held by the CWFP or by the Trustee for the account of the CWFP. Earnings on undisbursed Loan proceeds shall be for the account of the CWFP. Loan proceeds shall be disbursed only upon submission by the Municipality of disbursement requests and approval thereof as set forth in Section 3.06 hereof. (c) The Loan shall bear interest at the rate of zero two and 970/1000ths 145/1000ths percent (0.9702.145%) per annum, and interest shall accrue and be payable only on Loan principal amounts actually disbursed on the Municipal Obligations, from the date of disbursement until the date such amounts are repaid or forgiven. A description of how the interest rate was determined is included in the Project Manager Summary Page (Exhibit F). (d) Disbursements of Financial Assistance shall generally be made: first, in the form of a Loan disbursement on the Municipal Obligations, which must be at least 5% of the Municipal Obligation amount or $50,000, whichever is less; second, in the form of Loan disbursements that include the applicable percentage of Principal Forgiveness up to $750,000598,976; and third, if the Principal Forgiveness cap has been reached, in the form of Loan disbursements on the Municipal Obligations. Principal Forgiveness will be applied at the time of Loan disbursement. (e) The Municipal Obligations shall include the Loan Disbursement Table (Exhibit C). The actual dates of disbursements shall be reflected as part of the Municipal Obligations. DOA shall make entries as each disbursement is made and as each principal amount is repaid; the CWFP and the Municipality agree that such entries shall be mutually binding. (f) Upon Final Completion of the Project, DOA may request that the Municipality issue substitute Municipal Obligations in the aggregate principal amount equal to the outstanding principal balance of the Municipal Obligations. (g) The Municipality shall deliver, or cause to be delivered, a Municipal Obligation Counsel Opinion to the CWFP concurrently with the delivery of the Municipal Obligations.

Loan Clauses. (a) Subject to the conditions and in accordance with the terms of this FAA, the CWFP hereby agrees to make the Loan and the Municipality agrees to accept the Loan. As evidence of the portion of the Loan made to the Municipality remaining subsequent to the Principal Forgiveness, the Municipality hereby agrees to sell to the CWFP Municipal Obligations in the aggregate principal amount of $623,0812,169,225. The CWFP shall pay for the Municipal Obligations in lawful money of the United States, which shall be disbursed as provided in this FAA. (b) Prior to disbursement, Loan proceeds shall be held by the CWFP or by the Trustee for the account of the CWFP. Earnings on undisbursed Loan proceeds shall be for the account of the CWFP. Loan proceeds shall be disbursed only upon submission by the Municipality of disbursement requests and approval thereof as set forth in Section 3.06 hereof. (c) The Loan shall bear interest at the rate of zero two and 970/1000ths 365/1000ths percent (0.9702.365%) per annum, and interest shall accrue and be payable only on Loan principal amounts actually disbursed on the Municipal Obligations, from the date of disbursement until the date such amounts are repaid or forgiven. A description of how the interest rate was determined is included in the Project Manager Summary Page (Exhibit F). (d) Disbursements of Financial Assistance shall generally be made: first, in the form of a Loan disbursement on the Municipal Obligations, which must be at least 5% of the Municipal Obligation amount or an excess of $50,000, whichever is less; second, in the form of Loan disbursements that include the applicable percentage of Principal Forgiveness up to $750,0002,100,000; and third, if the Principal Forgiveness cap has been reached, in the form of Loan disbursements on the Municipal Obligations. Principal Forgiveness will be applied at the time of Loan disbursement. (e) The Municipal Obligations shall include the Loan Disbursement Table (Exhibit C)Table. The actual dates of disbursements shall be reflected as part of the Municipal Obligations. DOA shall make entries as each disbursement is made and as each principal amount is repaid; the CWFP and the Municipality agree that such entries shall be mutually binding. (f) Upon Final Completion of the Project, DOA may request that the Municipality issue substitute Municipal Obligations in the aggregate principal amount equal to the outstanding principal balance of the Municipal Obligations. (g) The Municipality shall deliver, or cause to be delivered, a Municipal Obligation Counsel Opinion to the CWFP concurrently with the delivery of the Municipal Obligations.

Loan Clauses. (a) Subject to the conditions and in accordance with the terms of this FAA, the CWFP SDWLP hereby agrees to make the Loan and the Municipality agrees to accept the Loan. As evidence of the portion of the Loan made to the Municipality remaining subsequent to the Principal ForgivenessMunicipality, the Municipality hereby agrees to sell to the CWFP SDWLP Municipal Obligations in the aggregate principal amount of $623,081553,294. The CWFP SDWLP shall pay for the Municipal Obligations in lawful money of the United States, which shall be disbursed as provided in this FAA. (b) Prior to disbursement, Loan proceeds shall be held by the CWFP SDWLP or by the Trustee for the account of the CWFPSDWLP. Earnings on undisbursed Loan proceeds shall be for the account of the CWFPSDWLP. Loan proceeds shall be disbursed only upon submission by the Municipality of disbursement requests and approval thereof as set forth in Section 3.06 3.05 hereof. (c) The Loan shall bear interest at the rate of zero two and 970/1000ths 145/1000ths percent (0.9702.145%) per annum, and interest shall accrue and be payable only on Loan principal amounts proceeds actually disbursed on the Municipal Obligations, from the date of disbursement until the date such amounts are repaid or forgiven. A description of how the interest rate was determined is included in the Project Manager Summary Page (Exhibit F)repaid. (d) Disbursements of Financial Assistance shall generally be made: first, in the form of a Loan disbursement on the Municipal Obligations, which must be at least 5% of the The Municipal Obligation amount or $50,000, whichever is less; second, in the form of Loan disbursements that include the applicable percentage of Principal Forgiveness up to $750,000; and third, if the Principal Forgiveness cap has been reached, in the form of Loan disbursements on the Municipal Obligations. Principal Forgiveness will be applied at the time of Loan disbursement. (e) The Municipal Obligations shall include the Loan Disbursement Table (Exhibit C). The actual dates of disbursements shall be reflected as part of the Municipal Obligations. DOA shall make entries as each disbursement is made and as each principal amount is repaid; the CWFP SDWLP and the Municipality agree that such entries shall be mutually binding. (fe) Upon Final Completion of the Project, DOA may request that the Municipality issue substitute Municipal Obligations in the aggregate principal amount equal to the outstanding principal balance of the Municipal ObligationsLoan. (gf) The Municipality shall deliver, or cause to be delivered, a Municipal Obligation Counsel Opinion to the CWFP SDWLP concurrently with the delivery of the Municipal Obligations.

Loan Clauses. (a) Subject to the conditions and in accordance with the terms of this FAA, the CWFP hereby agrees to make the Loan and the Municipality agrees to accept the Loan. As evidence of the portion of the Loan made to the Municipality remaining subsequent to the Principal ForgivenessMunicipality, the Municipality hereby agrees to sell to the CWFP Municipal Obligations in the aggregate principal amount of $623,0813,017,397. The CWFP shall pay for the Municipal Obligations in lawful money of the United States, which shall be disbursed as provided in this FAA. (b) Prior to disbursement, Loan proceeds shall be held by the CWFP or by the Trustee for the account of the CWFP. Earnings on undisbursed Loan proceeds shall be for the account of the CWFP. Loan Xxxx proceeds shall be disbursed only upon submission by the Municipality Commission of disbursement requests and approval thereof as set forth in Section 3.06 hereof. (c) The Loan shall bear interest at the rate of zero one and 970/1000ths 760/1000ths percent (0.9701.760%) per annum, and interest shall accrue and be payable only on Loan principal amounts actually disbursed on the Municipal Obligations, from the date of disbursement until the date such amounts are repaid or forgiven. A description of how the interest rate was determined is included in the Project Manager Summary Page (Exhibit F). (d) Disbursements of Financial Assistance shall generally be mademade to the Commission: first, in the form of a Loan disbursement on the Municipal Obligations, which must be at least 5% of the Municipal Obligation amount or $50,000, whichever is less; second, in the form of Loan disbursements that include the applicable percentage of Principal Forgiveness up to $750,000Forgiveness; and third, if the Principal Forgiveness cap has been reached, in the form of Loan disbursements on the Municipal Obligations. Principal Forgiveness will be applied at the time of Loan disbursement. (e) The Municipal Obligations shall include the Loan Disbursement Table (Exhibit C). The actual dates of disbursements shall be reflected as part of the Municipal Obligations. DOA shall make entries as each disbursement is made and as each principal amount is repaid; the CWFP and the Municipality agree that such entries shall be mutually binding. (f) Upon Final Completion of the Project, DOA may request that the Municipality issue substitute Municipal Obligations in the aggregate principal amount equal to the outstanding principal balance of the Municipal Obligations. (g) The Municipality shall deliver, or cause to be delivered, a Municipal Obligation Counsel Opinion to the CWFP concurrently with the delivery of the Municipal Obligations.

Loan Clauses. (a) Subject to the conditions and in accordance with the terms of this FAA, the CWFP SDWLP hereby agrees to make the Loan and the Municipality agrees to accept the Loan. As evidence of the portion of the Loan made to the Municipality remaining subsequent to the Principal ForgivenessMunicipality, the Municipality hereby agrees to sell to the CWFP SDWLP Municipal Obligations in the aggregate principal amount of $623,0812,050,765. The CWFP SDWLP shall pay for the Municipal Obligations in lawful money of the United States, which shall be disbursed as provided in this FAA. (b) Prior to disbursement, Loan proceeds shall be held by the CWFP SDWLP or by the Trustee for the account of the CWFPSDWLP. Earnings on undisbursed Loan proceeds shall be for the account of the CWFPSDWLP. Loan proceeds shall be disbursed only upon submission by the Municipality of disbursement requests and approval thereof as set forth in Section 3.06 3.05 hereof. (c) The Loan shall bear interest at the rate of zero two and 970/1000ths 145/1000ths percent (0.9702.145%) per annum, and interest shall accrue and be payable only on Loan principal amounts proceeds actually disbursed on the Municipal Obligations, from the date of disbursement until the date such amounts are repaid or forgiven. A description of how the interest rate was determined is included in the Project Manager Summary Page (Exhibit F)repaid. (d) Disbursements of Financial Assistance shall generally be made: first, in the form of a Loan disbursement on the Municipal Obligations, which must be at least 5% of the The Municipal Obligation amount or $50,000, whichever is less; second, in the form of Loan disbursements that include the applicable percentage of Principal Forgiveness up to $750,000; and third, if the Principal Forgiveness cap has been reached, in the form of Loan disbursements on the Municipal Obligations. Principal Forgiveness will be applied at the time of Loan disbursement. (e) The Municipal Obligations shall include the Loan Disbursement Table (Exhibit C). The actual dates of disbursements shall be reflected as part of the Municipal Obligations. DOA shall make entries as each disbursement is made and as each principal amount is repaid; the CWFP SDWLP and the Municipality agree that such entries shall be mutually binding. (fe) Upon Final Completion of the Project, DOA may request that the Municipality issue substitute Municipal Obligations in the aggregate principal amount equal to the outstanding principal balance of the Municipal ObligationsLoan. (gf) The Municipality shall deliver, or cause to be delivered, a Municipal Obligation Counsel Opinion to the CWFP SDWLP concurrently with the delivery of the Municipal Obligations.

Loan Clauses. (a) Subject to the conditions and in accordance with the terms of this FAA, the CWFP SDWLP hereby agrees to make the Loan and the Municipality agrees to accept the Loan. As evidence of the portion of the Loan made to the Municipality remaining subsequent to the Principal Forgiveness, the Municipality hereby agrees to sell to the CWFP SDWLP Municipal Obligations in the aggregate principal amount of $623,081355,975. The CWFP SDWLP shall pay for the Municipal Obligations in lawful money of the United States, which shall be disbursed as provided in this FAA. (b) Prior to disbursement, Loan proceeds shall be held by the CWFP SDWLP or by the Trustee for the account of the CWFPSDWLP. Earnings on undisbursed Loan proceeds shall be for the account of the CWFPSDWLP. Loan proceeds shall be disbursed only upon submission by the Municipality of disbursement requests and approval thereof as set forth in Section 3.06 3.05 hereof. (c) The Loan shall bear interest at the rate of zero two and 970/1000ths 145/1000ths percent (0.9702.145%) per annum, and interest shall accrue and be payable only on Loan principal amounts actually disbursed on the Municipal Obligations, Obligations from the date of disbursement until the date such amounts are repaid or forgiven. A description of how the interest rate was determined is included in the Project Manager Summary Page (Exhibit F). (d) Disbursements of Financial Assistance shall generally be made: first, in the form of a Loan disbursement on the Municipal Obligations, which must be at least 5% of the Municipal Obligation amount or $50,000, whichever is less; second, second in the form of Loan disbursements that include the applicable percentage of Principal Forgiveness up to $750,000152,562; and third, if the Principal Forgiveness cap has been reached, in the form of Loan disbursements on the Municipal Obligations. Principal Forgiveness will be applied at the time of Loan disbursement. (e) The Municipal Obligations Obligation shall include the Loan Disbursement Table (Exhibit C). The actual dates of disbursements shall be reflected as part of the Municipal Obligations. DOA shall make entries as each disbursement is made and as each principal amount is repaid; the CWFP SDWLP and the Municipality agree that such entries shall be mutually binding. (f) Upon Final Completion of the Project, DOA may request that the Municipality issue substitute Municipal Obligations in the aggregate principal amount equal to the outstanding principal balance of the Municipal Obligations. (g) The Municipality shall deliver, or cause to be delivered, a Municipal Obligation Counsel Opinion to the CWFP SDWLP concurrently with the delivery of the Municipal Obligations.

Loan Clauses. (a) Subject to the conditions and in accordance with the terms of this FAA, the CWFP SDWLP hereby agrees to make the Loan and the Municipality agrees to accept the Loan. As evidence of the portion of the Loan made to the Municipality remaining subsequent to the Principal Forgiveness, the Municipality hereby agrees to sell to the CWFP SDWLP Municipal Obligations in the aggregate principal amount of $623,0811,418,630. The CWFP SDWLP shall pay for the Municipal Obligations in lawful money of the United States, which shall be disbursed as provided in this FAA. (b) Prior to disbursement, Loan proceeds shall be held by the CWFP SDWLP or by the Trustee for the account of the CWFPSDWLP. Earnings on undisbursed Loan proceeds shall be for the account of the CWFPSDWLP. Loan proceeds shall be disbursed only upon submission by the Municipality of disbursement requests and approval thereof as set forth in Section 3.06 3.05 hereof. (c) The Loan shall bear interest at the rate of zero two and 970/1000ths 668/1000ths percent (0.9702.668%) per annum, and interest shall accrue and be payable only on Loan principal amounts actually disbursed on the Municipal Obligations, from the date of disbursement until the date such amounts are repaid or forgiven. A description of how the interest rate was determined is included in the Project Manager Summary Page (Exhibit F). (d) Disbursements of Financial Assistance shall generally first be made: first, made in the form of a Loan disbursement on the Municipal Obligations, Obligations which must be at least 5% of the Municipal Obligation amount or $50,000, whichever is less; second, second in the form of Loan disbursements that include the applicable percentage of subject to Principal Forgiveness up to $750,000; 1,418,630 and third, if the Principal Forgiveness cap has been reached, third in the form of Loan disbursements on the Municipal Obligations. Principal Forgiveness will be applied at the time of Loan disbursementdisbursement except as provided in Section 3.04(e) when additional Principal Forgiveness is available for SDWLP Loans. (e) The Municipal Obligations Obligation shall include the Loan Disbursement Table (Exhibit C). The actual dates of disbursements shall be reflected as part of the Municipal Obligations. DOA shall make entries as each disbursement is made and as each principal amount is repaid; the CWFP SDWLP and the Municipality agree that such entries shall be mutually binding. (f) Upon Final Completion of the Project, DOA may request that the Municipality issue substitute Municipal Obligations in the aggregate principal amount equal to the outstanding principal balance of the Municipal Obligations. (g) The Municipality shall deliver, or cause to be delivered, a Municipal Obligation Counsel Opinion to the CWFP SDWLP concurrently with the delivery of the Municipal Obligations.

Loan Clauses. (a) Subject to the conditions and in accordance with the terms of this FAA, the CWFP SDWLP hereby agrees to make the Loan and the Municipality agrees to accept the Loan. As evidence of the portion of the Loan made to the Municipality remaining subsequent to the Principal Forgiveness, the Municipality hereby agrees to sell to the CWFP SDWLP Municipal Obligations in the aggregate principal amount of $623,081622,856. The CWFP SDWLP shall pay for the Municipal Obligations in lawful money of the United States, which shall be disbursed as provided in this FAA. (b) Prior to disbursement, Loan proceeds shall be held by the CWFP SDWLP or by the Trustee for the account of the CWFPSDWLP. Earnings on undisbursed Loan proceeds shall be for the account of the CWFPSDWLP. Loan proceeds shall be disbursed only upon submission by the Municipality of disbursement requests and approval thereof as set forth in Section 3.06 3.05 hereof. (c) The Loan shall bear interest at the rate of zero one and 970/1000ths 650/1000ths percent (0.9701.650%) per annum, and interest shall accrue and be payable only on Loan principal amounts actually disbursed on the Municipal Obligations, Obligations from the date of disbursement until the date such amounts are repaid or forgiven. A description of how the interest rate was determined is included in the Project Manager Summary Page (Exhibit F). (d) Disbursements of Financial Assistance shall generally be made: first, in the form of a Loan disbursement on the Municipal Obligations, which must be at least 5% of the Municipal Obligation amount or $50,000, whichever is less; second, in the form of Loan disbursements that include the applicable percentage of Principal Forgiveness up to $750,000266,938; and third, if the Principal Forgiveness cap has been reached, in the form of Loan disbursements on the Municipal Obligations. Principal Forgiveness will be applied at the time of Loan disbursement. (e) The Municipal Obligations Obligation shall include the Loan Disbursement Table (Exhibit C). The actual dates of disbursements shall be reflected as part of the Municipal Obligations. DOA shall make entries as each disbursement is made and as each principal amount is repaid; the CWFP SDWLP and the Municipality agree that such entries shall be mutually binding. (f) Upon Final Completion of the Project, DOA may request that the Municipality issue substitute Municipal Obligations in the aggregate principal amount equal to the outstanding principal balance of the Municipal Obligations. (g) The Municipality shall deliver, or cause to be delivered, a Municipal Obligation Counsel Opinion to the CWFP SDWLP concurrently with the delivery of the Municipal Obligations.

Loan Clauses. (a) Subject to the conditions and in accordance with the terms of this FAA, the CWFP hereby agrees to make the Loan and the Municipality agrees to accept the Loan. As evidence of the portion of the Loan made to the Municipality remaining subsequent to the Principal Forgiveness, the Municipality hereby agrees to sell to the CWFP Municipal Obligations in the aggregate principal amount of $623,0817,198,734. The CWFP shall pay for the Municipal Obligations in lawful money of the United States, which shall be disbursed as provided in this FAA. (b) Prior to disbursement, Loan proceeds shall be held by the CWFP or by the Trustee for the account of the CWFP. Earnings on undisbursed Loan proceeds shall be for the account of the CWFP. Loan proceeds shall be disbursed only upon submission by the Municipality of disbursement requests and approval thereof as set forth in Section 3.06 hereof. (c) The Loan shall bear interest at the rate of zero two and 970/1000ths 145/1000ths percent (0.9702.145%) per annum, and interest shall accrue and be payable only on Loan principal amounts actually disbursed on the Municipal Obligations, from the date of disbursement until the date such amounts are repaid or forgiven. A description of how the interest rate was determined is included in the Project Manager Summary Page (Exhibit F). (d) Disbursements of Financial Assistance shall generally be made: first, in the form of a Loan disbursement on the Municipal Obligations, which must be at least 5% of the Municipal Obligation amount or an excess of $50,000, whichever is less; second, in the form of Loan disbursements that include the applicable percentage of Principal Forgiveness up to $750,0002,100,000; and third, if the Principal Forgiveness cap has been reached, in the form of Loan disbursements on the Municipal Obligations. Principal Forgiveness will be applied at the time of Loan disbursement. (e) The Municipal Obligations Department of Administration shall include the maintain a Loan Disbursement Table (Exhibit C). The actual dates of disbursements shall be reflected as part of the Municipal Obligationson its website xxxx://xxx.xxx.xx.xxx/xxxxx.xxx [xxx.xxx.xx.xxx]. DOA shall make entries as each disbursement is made and as each principal amount is repaid; the CWFP and the Municipality agree that such entries shall be mutually binding. (f) Upon Final Completion of the Project, DOA may request that the Municipality issue substitute Municipal Obligations in the aggregate principal amount equal to the outstanding principal balance of the Municipal Obligations. (g) The Municipality shall deliver, or cause to be delivered, a Municipal Obligation Counsel Opinion to the CWFP concurrently with the delivery of the Municipal Obligations.

Loan Clauses. (a) Subject to the conditions and in accordance with the terms of this FAA, the CWFP hereby agrees to make the Loan and the Municipality agrees to accept the Loan. As evidence of the portion of the Loan made to the Municipality remaining subsequent to the Principal Forgiveness, the Municipality hereby agrees to sell to the CWFP Municipal Obligations in the aggregate principal amount of $623,081136,765. The CWFP shall pay for the Municipal Obligations in lawful money of the United States, which shall be disbursed as provided in this FAA. (b) Prior to disbursement, Loan proceeds shall be held by the CWFP or by the Trustee for the account of the CWFP. Earnings on undisbursed Loan proceeds shall be for the account of the CWFP. Loan Xxxx proceeds shall be disbursed only upon submission by the Municipality Commission of disbursement requests and approval thereof as set forth in Section 3.06 hereof. (c) The Loan shall bear interest at the rate of zero one and 970/1000ths 760/1000ths percent (0.9701.760%) per annum, and interest shall accrue and be payable only on Loan principal amounts actually disbursed on the Municipal Obligations, from the date of disbursement until the date such amounts are repaid or forgiven. A description of how the interest rate was determined is included in the Project Manager Summary Page (Exhibit F). (d) Disbursements of Financial Assistance shall generally be mademade to the Commission: first, in the form of a Loan disbursement on the Municipal Obligations, which must be at least 5% of the Municipal Obligation amount or $50,000, whichever is less; second, in the form of Loan disbursements that include the applicable percentage of Principal Forgiveness up to $750,000Forgiveness; and third, if the Principal Forgiveness cap has been reached, in the form of Loan disbursements on the Municipal Obligations. Principal Forgiveness will be applied at the time of Loan disbursement. (e) The Municipal Obligations shall include the Loan Disbursement Table (Exhibit C). The actual dates of disbursements shall be reflected as part of the Municipal Obligations. DOA shall make entries as each disbursement is made and as each principal amount is repaid; the CWFP and the Municipality agree that such entries shall be mutually binding. (f) Upon Final Completion of the Project, DOA may request that the Municipality issue substitute Municipal Obligations in the aggregate principal amount equal to the outstanding principal balance of the Municipal Obligations. (g) The Municipality shall deliver, or cause to be delivered, a Municipal Obligation Counsel Opinion to the CWFP concurrently with the delivery of the Municipal Obligations.

Loan Clauses. (a) Subject to the conditions and in accordance with the terms of this FAA, the CWFP SDWLP hereby agrees to make the Loan Loan, and the Municipality agrees to accept the Loan. As evidence of the portion of the Loan made to the Municipality remaining subsequent to the Principal Forgiveness, the Municipality hereby agrees to sell to the CWFP SDWLP Municipal Obligations in the aggregate principal amount of $623,081846,365. The CWFP SDWLP shall pay for the Municipal Obligations in lawful money of the United States, which shall be disbursed as provided in this FAA. (b) Prior to disbursement, Loan proceeds shall be held by the CWFP SDWLP or by the Trustee for the account of the CWFPSDWLP. Earnings on undisbursed Loan proceeds shall be for the account of the CWFPSDWLP. Loan proceeds shall be disbursed only upon submission by the Municipality of disbursement requests and approval thereof as set forth in Section 3.06 3.05 hereof. (c) The Loan shall bear interest at the rate of zero and 970/1000ths 250/1000ths percent (0.9700.25%) per annum, and interest shall accrue and be payable only on Loan principal amounts actually disbursed on the Municipal Obligations, from the date of disbursement until the date such amounts are repaid or forgiven. A description of how the interest rate was determined is included in the Project Manager Summary Page (Exhibit F). (d) Disbursements of Financial Assistance shall generally be made: first, in the form of a Loan disbursement on the Municipal Obligations, which must be at least 5% of the Municipal Obligation amount or $50,000, whichever is less; second, first in the form of Loan disbursements that include the applicable percentage of Principal Forgiveness up to $750,0002,246,622; and thirdsecond, if the Principal Forgiveness cap has been reached, in the form of Loan disbursements on the Municipal Obligations. Principal Forgiveness will be applied at the time of Loan disbursement. (e) The Municipal Obligations Department of Administration shall include the maintain a Loan Disbursement Table (Exhibit C). The actual dates of disbursements shall be reflected as part of the Municipal Obligationson its website xxxx://xxx.xxx.xx.xxx/xxxxx.xxx [xxx.xxx.xx.xxx]. DOA shall make entries as each disbursement is made and as each principal amount is repaid; the CWFP and the Municipality agree that such entries shall be mutually binding. (f) Upon Final Completion of the Project, DOA may request that the Municipality issue substitute Municipal Obligations in the aggregate principal amount equal to the outstanding principal balance of the Municipal Obligations. (g) The Municipality shall deliver, or cause to be delivered, a Municipal Obligation Counsel Opinion to the CWFP SDWLP concurrently with the delivery of the Municipal Obligations.

Loan Clauses. (a) Subject to the conditions and in accordance with the terms of this FAA, the CWFP SDWLP hereby agrees to make the Loan and the Municipality agrees to accept the Loan. As evidence of the portion of the Loan made to the Municipality remaining subsequent to the Principal ForgivenessMunicipality, the Municipality hereby agrees to sell to the CWFP SDWLP Municipal Obligations in the aggregate principal amount of $623,08139,430,018. The CWFP SDWLP shall pay for the Municipal Obligations in lawful money of the United States, which shall be disbursed as provided in this FAA. (b) Prior to disbursement, Loan proceeds shall be held by the CWFP SDWLP or by the Trustee for the account of the CWFPSDWLP. Earnings on undisbursed Loan proceeds shall be for the account of the CWFPSDWLP. Loan proceeds shall be disbursed only upon submission by the Municipality of disbursement requests and approval thereof as set forth in Section 3.06 3.05 hereof. (c) The Loan shall bear interest at the rate of zero two and 970/1000ths 145/1000ths percent (0.9702.145%) per annum, and interest shall accrue and be payable only on Loan principal amounts proceeds actually disbursed on the Municipal Obligations, from the date of disbursement until the date such amounts are repaid or forgiven. A description of how the interest rate was determined is included in the Project Manager Summary Page (Exhibit F)repaid. (d) Disbursements of Financial Assistance shall generally be made: first, in the form of a Loan disbursement on the Municipal Obligations, which must be at least 5% of the The Municipal Obligation amount or $50,000, whichever is less; second, in the form of Loan disbursements that include the applicable percentage of Principal Forgiveness up to $750,000; and third, if the Principal Forgiveness cap has been reached, in the form of Loan disbursements on the Municipal Obligations. Principal Forgiveness will be applied at the time of Loan disbursement. (e) The Municipal Obligations shall include the Loan Disbursement Table (Exhibit C). The actual dates of disbursements shall be reflected as part of the Municipal Obligations. DOA shall make entries as each disbursement is made and as each principal amount is repaid; the CWFP SDWLP and the Municipality agree that such entries shall be mutually binding. (fe) Upon Final Completion of the Project, DOA may request that the Municipality issue substitute Municipal Obligations in the aggregate principal amount equal to the outstanding principal balance of the Municipal ObligationsLoan. (gf) The Municipality shall deliver, or cause to be delivered, a Municipal Obligation Counsel Opinion to the CWFP SDWLP concurrently with the delivery of the Municipal Obligations.