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96-043 Resolution
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96-043 Resolution
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Last modified
1/28/2014 10:10:44 AM
Creation date
1/17/2014 10:33:10 AM
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North Olmsted Legislation
Legislation Number
96-043
Legislation Date
4/3/1996
Year
1996
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? . .. , .r ,.?. ,..a?:r . <br />- - , <br />' • • .. .? <br />Mraintenanci, Progi am or has resuined such active participation, then from and after the date thGt is <br />sixty days itfter tt e date of such notice, the Contract Intcrest Rate on the unpatd Eligibie Pro;ect <br />Costs vv?71 b,: increi sed to eliminata the discount for the remainder of the Contract Period of Ye.us, <br />arsd the Part icipation Charge and all subsequent semi-annual payments thereof for the remainder of <br />the Contract: PerioI of Years wilI be adjusted accordingly. <br />ARTICI E VI - GENERAI, REPRESENTATIONS AND AG1tEEMENTS; <br />EVEN'TS OF DEFAtJLT AND REMEDIES <br />Seclion 6.1. The Borrower hereby represents and warrants that: <br />(a) ft is ar d sha1 remain in compliance, and shall take whatLrier actions are necessary to <br />assure comp'sance during the Contract Period af Years, with all applicable federal, state, and local <br />laws, ordina;tces, riles, tegulations, and provisions ofthis Agreement, including without limitation <br />the CWA and Qhio Reviscd Code Section 6111.036, subject to its rights to contest in good faith the <br />issue of nor.-compl iance, and <br />(b) :."here 's no litigation or administrative gction or pr:)ceeding pending or, to the best of <br />its knowled,;e, thrr;atened against the $otrower, wherein a re.ult adverse to the Borrower could <br />reasonably b.; expected tp have 8 materially adverse effect on the ability of the Borrower to meet <br />its obligatioi -s unda r this Agreement, and <br />(c) Exr.ept ;Ls heretofore disclosed in writing to the State, no judgment or consent order has <br />been rendef c.1d agF inst t}ie Borrower, and thc Borrower is not a party to any agreement, wh;ch <br />imposes, wi'i impo w, or has impcsed any fines or monetary penalties upon the Borrower for the <br />vioIation of' any fi derat, state, or locai law, ordinance, or regulation, which fines or monetary <br />penalties ha;•..-, not lieretofore been paid in full. <br />Sect: -3n 6.2. Each of the following shall be an event of default ("Event of Default") uneer <br />this Agreemi: nt; <br />(a) 'C'he Bc rrower shall fail to make any payment to ths OWDA required pursuant to this <br />Agreement when t:le same is due and payable, including, without limitation, any amount due azd <br />payable purs_iant te Article III hereof. <br />(b) 'fhe Bc rrower shall faii to observe and perfonn any other obligations, agreements, or <br />pravisions of •,his AF roement, which failure shall continue for thirty (30) days after receipt of written <br />notice there:if fror.i the Director or the OWDA; provided, hawever, that such failure shail not <br />constitute an Event of Default hereunder if the cure of such failure cannot be effected within thirty <br />(30) days and if the 3orrower is taicing a11 reasonably necessary actions to cure such failure with aIl <br />deliberate sp:ed. <br />(c) A;iy rcpiesentadons made by the Borrower in Section 6.1 or 7.1 shall at any time during <br />the Contract ??eriod of Years prove to be false. <br />15
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