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201106937
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Last modified
10/9/2011 10:52:19 PM
Creation date
9/20/2011 8:40:44 AM
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DEEDS
Inst Number
201106937
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20�10693r <br />20 � 41 �2�� <br />Amended by tlus Second Addendum shall extend until December 31, 2024, provided that at such <br />time a11 of the Building Bonds shall have been paid in fu11 or shall otherwise be no longer <br />outstanding in accordance with the terms of the Indenture. If any Building Bonds shall as of <br />such date remain outstanding under the terms of the Indenture, then the term of the Agreement <br />shall automatically be extended until all Building Bonds are no longer outstanding under the <br />Indenture. A copy of the Original Lease Purchase Agreement is attached hereto as Exhibit "B" <br />and incorporated herein by such reference. A copy of the Addendum is attached hereto as <br />Exhibit "C" and incorporated herein by such reference. Each such incorporation by reference is <br />subject to the amendments, modifications and supplements provided for in this Second <br />Addendum. <br />Section III. Anornval of Terms of Indentare: Restatement of Conditions Prior to <br />Commencement. The City and Heartland hereby approve the terms of the Indenture and of the <br />Building Bonds as set forth therein. Article XIV of the Indenture is hereby expressly approved <br />and agreed to by the City and the City hereby agrees to make as an additional payment due under <br />the Agreement any chazges made by the Insurer under the terms of Section 14.01(a) of Article <br />XN of the Indenture. The parties hereby acknowledge that all teims required by the Lease <br />Purchase Agreement as conditions prior to commencement have been satisfied or waived and the <br />Building Bonds may� be issued and construction of the Project may commence. In connectian <br />therewith, Paragraph 3 of the I,ease Purchase Agreement (being such Paragraph 3 as set forth in <br />the Addendum) is hereby amended and restated to provide as follows: <br />"3. CONDITIONS PRIOR TO COMMENCEMENT. The parties <br />agree that tYus Agreement shall bind the parties upon approval and execution as <br />required by law but that neither pazty shall commence performance of its <br />respective duties and responsibilities with respect to the construction of the <br />Project, the issuance of the Building Bonds and the making of the Payments by <br />the City under this Agreement until all of the followin.g conditions have been <br />satisfied: <br />a. Heartland shall obtain commiiments for all costs of the Project from Other <br />Funding Sources in excess of the amourn determined by adding $7,500,000.00 <br />(the net amount to be deposited to the Construction Fund from the proceeds of the <br />Building Bonds, not including $17,927.94 which is to be held availahle to pay or <br />reimburse the City, in whole or in part, for costs of builders' risk instu�ance with <br />respect to the Project) to the estimated investment earnings on amounts in the <br />Construction Fund applied to pay costs of the Project under Paragraph 12 (as set <br />forth in the Original Lease Purchase Agreement). <br />b. The Boazd of Directors of Heartland must approve and adopt a resolution <br />in accordance with Heartland's Articles of Incorporation and Bylaws and <br />applicable federal and state statutes, describing the scope of the Project, the <br />estimated costs of the Project and confirming that funds and fuiancing are <br />available to Heartland from the proceeds of the Building Bonds, investrnent <br />earnings as described in 3.a above and from Other Funding Sources to pay for: <br />4 <br />
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