96-043 Resolution - Laserfiche WebLink

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?. _ .. . T 15 ? shall be no E' )atenu nt or reiuction in the amounts payable by the Borro•,ver pursuant to Section 4.1. hereof, and i he $c rrower will: (a) t'romp:ly rer air, rebuild or restore thc property dar.naged or destroyed, and (b) Apply For su;.h purpoae so much as may be necessa.ry of any net proceeds of insuraizce policies resi:lting from claims for such losses as wetl as any additional moaeys of the Borrower necessary ch : refor. All net proceeds of insurance resuhing from ctaims for such losses shall be paid to the $orrc:wcr. Sect s on 5. ': 0. In the event that title to or the temporary use o f the Project Site or Proj ect Facilities, c a- any ;)art thereof, shaQ be taken by any person, fum, or corporation acting under gavernmen«d autk ority, there shall be no abatement or reduction on the amounts payable by tre Borrower pursuant to Section 5.1. hereof, and any net proceeds received from any awazd made in such emine,;t donLain proceedings shall be paid to and held by tl:e Borrower in a separate condemnatic*1 awaz-.i account and shaJl be applied by the Borrower in eit'.zer or both of the following ways as sha11 be cte':ermir,ed by the Borrower: (a) 7'he restaratio.1 ofthe improvements located on the Project SlIte to substantialIy the same condition as 'Lhey e: isted prior to tye exercise of said power of eminent damaia; or (b) 'I'he ac(luisition of additional reat estate, if necessazy, and facilities, by construction ar othervvise, ee,7.iivaler t to the Project Facilities, w$ich real estate a.nd facilities shall be deemed a pmi of the Proje::t Site and Froject Facilities without the payment of an y amounts oth er t h a n h e r e i n provided, ta the sa ne extent as if such reat estate and faci(ities were specificalIy described here'.n. Any ?:alance of tho, net proc:eeds of the award in such eminent domaitt proceedings shall be paid to the B-_?rrowe..• upon delivery tc the OWDA of a certificate signed by an authorized otFicer of the Barrower that th a Borrower has camplied with either paragraph (a) or (b), or botf, of this Secuon 5.10. The OVVUA shall cooperate fuily with the Borrower in the handling and conduct of aiiy prospective c?r pen jing condemnaion proceedings with respect to the Project Site or Project Facilities of -;ny pa t thereof. In no event will the Borrower voluntar:ly settle or consent to the setttement of -my pre spective or penSing condemnation proceedir.gs with respect to the Project Site ar Project Fa?:ilities or any part thereof without the written consent of the State. Secti ?n 5. I°, .'Tlis Section 5.11 shalf apply if Exhibit I hereto indicates that the Contra, t Interest Rate i.ncludos a Municipal Compliance Mair,tenance discount. The 13 arrower agrees that it is and shall remain an active paiticipant in the Ohio EPA Municipal Co -nplianc e M,aiitenance Program for the Coniract period of Years or until the approval of the discant'riuance af the operation of the Projcct Facilities by the Director. In the event the Stae infonIns the Bcrrowe• in writing that the $tate has detetrnined that the Borrower has failed to remain an active pa;•:icipar. t in the Ohio EFA Municipa! Comptiance Maintenance Program, and if the Borrower fai's with'n sixty days of the date of such notice to demonstrate to the State that tre Borrower ha!, either not ceased to be an active participant in the Ohio EPA Municipal Compliance 14 ,.,.