3.9. SR 07-15-2002 - Laserfiche WebLink

Home Browse Search

(b) Assignment of a Member's interest by a Member to a th/rd party if requested by Member, provided Member provides to MCCF an agreement of assignment and assumption by and between the Member and the assignee whereby the Member assigns its interest to the Member Funds which have been deposited in the Loan Fund and its obligations under this Agreement and the assignee assumes such obligations; (c) Directions to Escrow Agent with respect to the investment of the Loan Funds within the limitations set forth in Section 10 of this Agreement; (d) Establishment and modi.ficarion of terms of Escrow Agent compensation and ex-pense reimbursement as provided under this Agreement and the Loan Fund Escrow Agreement. 12. Term and Termination. This Agreement shall be for an initial term which ends on the third anmversary date of the deposit of the Member Funds in the Loan Fund and at any time thereafter, upon 30 days advanced written notice to MCCF and Escrow Agent. Unless terminated as herein provided this Agreement shall automatically renew for successive terms of one year each. MCCF reserves the right to terminate a membership at any rime by action of its Board of Directors. 13. Benefit. This Agreement shall be binding upon the respective parties and their successors and assigns. 14. Notices to MCCF and Member. All notces and another communications required or permitted by this Agreement shall be in writing and shall be deemed given to the party when sent by United States mail, delivered to the appropriate address by hand or by a nationally recognized overnight courier service (costs pre-paid), or sent by facsimile or e-mail addresses and marked to the attention of the person Coy name or rifle) designated below or to such other address, facsimile number, e-mail address, or person as the party, may designate by notice to the other part/es. To: Minnesota Community Capital Fund Arm: Scott Martin, Chief Executive Officer 13911 R.idgedale Drive Suite 260 Minneapolis, MN 55305 (962) 541-9684 (fax) smartin~northlandinst.org To: Member at the address, facsimile number, or e-mail address shown on the Participation Agreement Signature Page. 15. Appointment of Authorized Representative bv Member. Member hereby appoints as its Authorized Representative the person designated on the signature page of this Agreement. The authorized representative may be changed by Member at any time by giving notice to MCCF pursuant to Section 14 of this Agreement. MCCF may rely upon all directions given by the designated authorized representative. 16. Counterparts. This Agreement may be executed in counterparts, which, taken together, shall constitute one original. The parties agree that this Agreement may be transmitted among themselves by facsimile. The parties intend that the faxed signatures constitute original signatures and faxed agreements or counterparts containing the signatures (original or faxed) is binding on each of the parties. 17. Applicable Law. This Agreement shall be governed by and construed in accordance with Minnesota law.