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The granting of this participation shall be upon the following terms: <br /> <br /> 1. The City shall share with the Bank, in proportion to the City's participation <br /> hereunder and up to a maximum of $25,000.00, in any payments received from <br /> the Debtor unless an Event of Termination (hereinafter defined) has occurred. <br /> Any additional loan monies exceeding the City's maximum of $25,000.00 shall <br /> not be the responsibility of the City. The City shall be secured by any collateral <br /> set forth in the provisions of the loan documents for the Indebtedness (the "Loan <br /> Documents"). However, the interest of the City shall be subordinate and inferior <br /> to the interests of the Bank, as herein provided. <br /> <br /> 2. The Bank shall provide to the City the schedule of loan payments on monthly <br /> basis along with the City's proportionate share of the loan payment due. Any <br /> prepayment of loans shall be distributed to the City at the proportionate share of <br /> the total loan amount <br /> <br /> 3. The Bank hereby acknowledges that it complete all required underwriting <br /> procedures in the Same manner as any other commercial improvement loan prior <br /> to approval of this agreement. The Bank shall provide the City with a letter <br /> summarizing its findings of its underwriting analysis. <br /> <br /> 4. The City hereby acknowledges its consent to the Loan Documents, and to all <br /> financing statements, certificates, filings and other instruments, agreements or <br /> writings issued or presented, and to all other actions taken, in connection <br /> therewith. <br /> <br /> <br />