88-87 Amend 116-84 - Laserfiche WebLink

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"Unaudited Operating Expenses,, means, for each Loan Payment Date, the amount shown on the Company's accounting records for the previous month as all amounts expended in connection with the Project during the previous month, including, without limitation, all amounts expended for maintenance, manage- ment, real estate taxes and assessments, both general and special and includ- ing delinquent real estate taxes and interest and penalties thereon, public liability, hazard and other forms of insurance, workers' compensation insur- ance, utility costs, supplies, reasonable reserves for repairs and mainte- nance, and such other expenses as are customarily incurred in connection with the operation of similar-type projects; but excluding depreciation, debt service on the Project Bonds and amortization thereof and federal, state and local income taxes and any other non-cash charges. (C) In connection with the execution and delivery of this Amendment, the Issuer and the Company make the following representations: (1) The Issuer represents that:: (a) it is duly organized and validly existing under the laws of the State; (b) it has duly accomplished all conditions necessary to be accomplished by it prior to the execution and delivery of the Project Bonds and the execution and delivery of this Amendment and the First Supplement; (c) it is not in vio- lation of or in conflict with any provisions of the laws of the State which would impair its ability to carry out its obligations contained in this Amendment or the First Sup- plement; (d) it is empowered to enter' into the transactions contemplated by this Amendment and the First Supplement; (e) it has duly authorized the execution, delivery and performance of this Amendment and the First Supplement; and (f) it will do all things in its power in order to maintain its existence or assure the assumption of its oblfgations under this Amendment and the First Supplement by any successor public body. (2) The Company represents and covenants that: (a) It is a limited partnership formed and existing under the laws of the State and registered to transact business in the State. (b) It has full power and authority to execute, deliver and perform or to consent to the execution, delivery and performance of this Amendment, the First Supplement of Mortgage and Security Agreement (the "Mortgage Supplement") from the Company to the Trustee, the First Amendment of Assignment (the "Assignment Amendment") from the Company to the Trustee and the Project Note and to enter into and carry out the transactions contemplated by those docu- ments. That execution, delivery and performance do not, and will not, violate any provision of law ap- plicable to the Company or the Company's Partnership - 10 -