Agenda - Council - 03/24/2015 - Laserfiche WebLink

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EXHIBIT A FORM OF DRAW REQUEST AND DRAW REQUEST CERTIFICATION F & C Ramsey, LLC, an Indiana limited liability company ("Developer") and F & C Ramsey Member, LLC ("Borrower"), hereby certify as follows (all terms not otherwise defined herein having the meanings set forth in the Loan Agreement (as amended from time to time, the "Loan Agreement")) dated , 2011, between the Borrower and The Housing and Redevelopment Authority in and for the City of Ramsey, Minnesota, a public body politic and corporate under the laws of the State of Minnesota ("HRA"): (a) At the date hereof no suit or proceeding at law or in equity, and no notice has been received that any investigation or proceeding of any governmental body has been instituted or, to the knowledge of Developer or Borrower, is threatened, which in either case could have a material adverse effect on the financial condition or business operations of Borrower or Developer. (b) At the date hereof, no default or event of default (other than any attributable to HRA) under the Loan Agreement or under any of the other Loan Documents has occurred and is continuing, and no event has occurred which, upon the service of notice and/or the lapse of time, would constitute an event of default thereunder, except the following: (c) The representations and warranties set forth in Article V of the Loan Agreement are hereby reaffirmed and restated, and Borrower represents and warrants to HRA that the same are true, correct and complete on the date hereof, except as to the following: (d) No material adverse change has occurred in the financial condition or in the assets or liabilities of Developer or Borrower from those set forth in the latest financial statements for each furnished to HRA, except the following: (e) The progress of construction of the Project is such that it can be completed on or before the Completion Date specified in the Loan Agreement for the cost originally represented to HRA, except for the following: (f) The Loans, as of the date hereof, are in balance as required by the Loan Agreement, and the undisbursed proceeds of the Loans, including the Advance requested herein, together with undisbursed proceeds of Developer's Project Loan are adequate and sufficient to pay for all labor, materials, equipment, work, services and supplies necessary for the completion of the Minimum Improvements to which such Advance relates, including the installation of all fixtures and equipment required for the operation of the completed Project, except for the following increases in the total cost of the Minimum Improvements: C-2-23 2695614v16