83-152 Ordinance - Laserfiche WebLink

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w, provided that the proceeds of any Additional Notes shall be used solely to pay permissible costs under the Act and that the issuance of such Additional Notes shall not result in the interest on the Notes outstand- ing immedfately prior to such issuance becoming subject to federal income tax. Such Additional Notes shall be on a parity with the Project Note and any Additional Notes theretofore or thereafter issued. Before any Additional Notes are delivered there shall be delivered to the Mortgagee: (a) A duly certified copy of the Note Legislation authorizing the execution and delivery of such Additional Notes and any amendment or supplement to the Mote Docu- ments; (b) Original executed counterparts of any amend- ments or supplements to the Note Documents; (c) Original executed counterparts of any amend- ments or supplements to the Mortgage and Lease Assignment; (d) A copy of the written request from the Owner to the Issuer for issuance of the Additional Notes; (e) The payment by the Owner to the Mortgagee of any loan fee or closing fee and reimbursement by the Owner of any out-of-pocket expenses incurred directly or in- directly by the Mortgagee in connection with the issuance of the Notes; (f) The written opinion of legal counsel for the Owner and the Lessee, satisfactory to the Mortgagee, addressing those matters customarily covered by Owner's counsel in corporate financing transaction; (g) An ALTA Mortgagee's policy of Title Insurance or commitment therefor, in the principal amount of the Notes, insuring that the Mortgagee has a valid first mortgage upon the Project Site subject only to Permitted Encumbrances as set forth in the Mortgage; (h) The written opinion of bond counsel to the effect that the Notes, when du2y executed and delivered, will be valid and legally binding special obligations of the Issuer enforceable in accordance with their terms and 31