6.0. EDSR 06-10-2002 - Laserfiche WebLink

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• Escrow Agent shall,upon 30 days' advance written direction given to MCCF and Escrow Agent by a • Member requesting refund of Member Funds, pay to such Member from the Loan Fund all or any portion of the deposit balance of the Member in the Loan Fund in accordance with the request by the Member. • To provide MCCF with monthly reports and Members with annual reports. CONFLICTS OF INTEREST Northland Institute has entered into a Management and Service Agreement with MCCF and the Chief Executive Officer of Northland Institute, Scott Martin, also serves as the Manager/Chief Executive Officer of MCCF. Mr. Martin has a duty of loyalty to both organizations. In the event of a conflict, it will be incumbent upon Mr.Martin to bring such conflict to the attention of the respective Boards of Directors of the parties. The management and service agreement is believed to be as fair and equitable as to both MCCF and Northland Institute and the compensation payable pursuant to the agreement believed to approximate that which would be payable to unrelated third parties for similar services. INDEMNIFICATION Limitation of Director Liability and Indemnification The Minnesota Business Corporation Act requires that MCCF indemnify any director, officer or employee made or threatened to be made a party to a proceeding, by reason of the former or present official capacity of the person, against judgments, penalties,fines, settlements and reasonable expenses incurred in connection with the proceeding if certain statutory standards are met. "Proceedings" means a threatened, pending, or completed, civil, criminal, administrative, arbitration or investigative proceeding, including a derivative action in the name of MCCF. Reference is made to the detailed terms of the Minnesota Indemnification Statute (Minn. Stat. §302A.521), for a complete statement of such indemnification right. The bylaws of MCCF also require MCCF to provide • indemnification to the fullest extent of the Minnesota Indemnification Statute. HOW TO PARTICIPATE Offerees who wish to participate in this Participation should complete and sign the forms of"Signature Page to Participation Agreement" and"Signature Page to Loan Fund Escrow Agreement"which are delivered to the Offeree with this Prospectus. The completed Signature Page to Participation Agreement and Signature Page to Loan Fund Escrow Agreement,together with a certified check,bank money order,or other good funds payable to"Wells Fargo Bank Minnesota, N.A.Escrow Agent MCCF Loan Fund" should be delivered to the Minnesota Community Capital Fund at its business address as set forth in this Prospectus. See"Additional Information". Upon acceptance and the occurrence of the conditions precedent as set forth in this Prospectus, the Initial Closing will occur and following the Initial Closing, the Member will receive a copy of the Participation Agreement and Loan Fund Escrow Agreement that has been fully signed. ADDITIONAL INFORMATION Offerees are invited to ask questions and receive answers concerning the terms and conditions of this Participation and to obtain any additional information that is necessary to verify the accuracy of the information contained in this Prospectus. Please direct all requests to Scott Martin, Chief Executive Officer of MCCF, at the business offices of MCCF: Minnesota Community Capital Fund 13911 Ridgedale Drive, Suite 260 Minneapolis,MN 55305 952-541-9674(phone) • 952-541-9684(fax) email:info@mncommunitycapitalfund.org 16