4.8. SR 12-21-1995 - Laserfiche WebLink

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of each month from January 1, 1996 to January 1, 2006. 40 2. The Loan Repayment obligation of the Borrower pursuant to Section 5.01 of the Loan Agreement is hereby amended to conform -to the modified schedule of payments on the Bond set forth in paragraph 1 hereof . 3. The Bank hereby represents to the City that it participated the Bond on original issuance, and the Bank and its participants hold the Bond for their own accounts and intend to continue to hold the Bond for their own accounts. The Borrower hereby represents to the City that he is in full compliance with the obligations imposed on him pursuant to the Loan Agreement, the Mortgage and the other documents related to the issuance of the Bond, aad no Event of Default has occurred under any of said documents (or would occur with the passage of time or giving of notice, or both) which has not been cured as of the date hereof . 4. The Bank and the Borrower acknowledge and agree that the City's approval, execution and delivery of this Extension Agreement pursuant to that certain resolution of the City Council authorizing the same are made as a requested accommodation to the Bank and to the Borrower; that the City has not been requested to take, and shall not be responsible to take, any other action in connection with said extension; that the City has not conducted, been requested to conduct and will not conduct any independent investigation as to the validity or effectiveness of this Extension Agreement or upon the effect hereof on the Mortgage or on any of the other documents executed and delivered in connection with the original issuance of the Bond; and that the City assumes no responsibility or liability, express or implied, as to the validity of this Extension Agreement or any continued exemption of the interest on the Bond from State of Minnesota and /or • federal income taxation or other taxation. 5. To evidence the amendments made hereby, ;he Bank shall permanently attach an executed copy of this Extension Agreement to the Bond. • 6. Except as specifically modified hereby, the Bond, the Loan Agreement and all related instruments are and shall remain payable, enforceable and outstanding according to their original tenor and effect anal are and shall remain in full force and effect. No other change in, modification to or waiver of any term or provision of the Bond or the Loan Agreement, including without limitation the interest rate thereon and any provision for the security, thereof, is intended to be made, effected or approved by this Extension Agreement. 7. Terms defined in the Loan Agreement and used in this Extension Agreement shall have the same meanings herein as therein. 3MR97836 84185 -1 [The balance of this page is intentionally left blank. ]