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<br />... incomes that do not exceed 50% of area media income. The Company <br />will be required to operate the project in accordance with state . <br />and local anti-discrimination laws and ordinances. <br />Revenue Bonds. The Company has indicated that the amount of <br />revenue bonds required to finance the Project is approximately <br />$4,000,000. The proceeds will finance the acquisition and <br />rehabilitation of the project and pay costs of issuing the bonds, <br />and may be used to establish a reserve. <br />Monitorinq. The Company expects to enter into or continue <br />suitable agreements with necessary parties to ensure consistent <br />compliance with the objectives of this Program, as well as with <br />the requirements of applicable law. <br />Use of Bond Proceeds. The proceeds of the Bonds would be <br />... loaned to the Company pursuant to a revenue agreement (the "Loan <br />Agreement") by and between the City and the Company. The Company <br />will be required, pursuant to the Loan Agreement, to make <br />paYments sufficient to pay when due the principal of, premium, if <br />any, and interest on the Bonds. <br /> <br />... <br /> <br />2 <br /> <br />1099040.2 <br />