1998 039 Ordinance - Laserfiche WebLink

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election or referendum of or by any person, organization or public body whatsoever, required in connection with any of the foregoing transactions. (c) No action, suit, inquiry, investigation, or proceeding, at law or equity, which the Village has been served or of which it has otherwise received official notice is pending, nor to the best of the knowledge of the Village is any such matter to which the Village is not a party from which it has not been served or has not otherwise received official notice, pending or threatened, in or before any court, governmental agency, authority, body or arbitrator, which in any way (i) affects the creation, organization or existence of the Village; or (ii) contests the title of the present officers of the Village to their respective offices; or (iii) seeks to restrain or enjoin the issuance, sale or delivery of the Note; or (iv) contests or affects in any way (A) the validity or enforceability of this Loan Agreement or the Note, or (B) the powers or authority of the Village with respect to this Loan Agreement. (d) There are no actions, suits or proceedings pending or threatened against or affecting the Village or the Project which, if adversely determined, would materially impair the ability of the Village to perform any of the Village's obligations under the Loan Documents. (e) No Hazardous Substance, Hazardous Waste, Toxic Chemical or Petroleum shall be discharged, dispersed, released, stored or treated at the Project. The Project is in compliance with all applicable Environmental Laws and the Village is not aware of any notice from any entity, governmental body, or individual claiming any violation of, or requiring compliance with any Environmental Law. Section 2.3 Conditions Precedent to Closing. It shall be a condition precedent to the closing of the transactions contemplated by this Agreement that the Director shall have received on or before closing in form and substance satisfactory to the Director: (a) executed counterparts of the Loan Documents, in form and substance satisfactory to the Director; (b) a certified copy of the Note Legislation; and (c) executed counterparts of the Assignment between Mayfield Village and the Director in form and substance satisfactory to the Director. Section 2.4 Annual Reporting_Requirements. The Village will furnish to the Director as soon as available the annual audited financial statements for the Village. 8