Common use of Issuance of Indebtedness Clause in Contracts

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior to December 1, 2019, the Authority shall issue one Tax Increment Revenue Bond, in one taxable series, in a maximum principal amount of 1,165,090, in substantially the form shown on the attached Exhibit C (“TIF Bond”), for net funds available to be purchased by Redeveloper (“TIF Bond Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Bond proceeds from the TIF Bond Purchaser in said amount. At the option of the Redeveloper, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Purchaser’s obligation to purchase the TIF Bond. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior to December May 1, 20192022, the Authority shall issue one Tax Increment Development Revenue BondNote, in one taxable series, in a maximum principal amount of 1,165,090$14,430,226.00, in substantially the form shown on the attached Exhibit C (“TIF BondNote”), for net funds available to be purchased by Redeveloper (“TIF Bond Note Purchaser”), in a written form acceptable to the AuthorityRedeveloper’s attorney, and receive Bond Note proceeds from the TIF Bond Note Purchaser in said amount. At the option of the Innate Development 2 Areas 33 Legacy 34 2022 Contract Page 7 Redeveloper, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Note Purchaser’s obligation to purchase the TIF BondNote. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior to December September 1, 20192021, the Authority shall issue one Tax Increment Development Revenue BondNote, in one taxable series, in a maximum principal amount of 1,165,090$318,285, in substantially the form shown on the attached Exhibit C (“TIF BondNote”), for net funds available to be purchased by Redeveloper (“TIF Bond Note Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Bond Note proceeds from the TIF Bond Note Purchaser in said amount. At the option of the RedeveloperAuthority, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Note Purchaser’s obligation to purchase the TIF BondNote. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior to December 115, 2019, the Authority shall issue one Tax Increment Development Revenue BondNote, in one taxable series, in a maximum principal amount of 1,165,090$530,004, in substantially the form shown on the attached Exhibit C (“TIF BondNote”), for net funds available to be purchased by Redeveloper (“TIF Bond Note Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Bond Note proceeds from the TIF Bond Note Purchaser in said amount. At the option of the RedeveloperAuthority, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Note Purchaser’s obligation to purchase the TIF BondNote. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority Wald 12 Properties shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior to December September 1, 20192022, the Authority shall issue one Tax Increment Revenue Bond, in one taxable series, in a maximum principal amount of 1,165,0905,800,000, in substantially the form shown on the attached Exhibit C (“TIF Bond”), for net funds available to be purchased by Redeveloper (“TIF Bond Purchaser”), in a written form acceptable to the Authority’s attorney, JNIK LLC Xxxxxxx CRA Area #1 Page 7 Redevelopment Contract and receive Bond Xxxx proceeds from the TIF Bond Purchaser in said amount. At the option of the RedeveloperAuthority, Starostka Contracting Fifth Street-Contract the Authority it shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Purchaser’s obligation to purchase the TIF Bond. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior to December September 1, 20192023, the Authority shall issue one Tax Increment Development Revenue BondNote, in one taxable series, in a maximum principal amount of 1,165,090$123,400, in substantially the form shown on the attached Exhibit C (“TIF BondNote”), for net funds available to be purchased by Redeveloper (“TIF Bond Note Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Bond Note proceeds from the TIF Bond Note Purchaser in said amount. At the option of the RedeveloperAuthority, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Note Purchaser’s obligation to purchase the TIF BondNote. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority Agency shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior to December July 1, 20192022, the Authority Agency shall issue one Tax Increment Revenue BondNote, in one taxable series, in a maximum principal amount of 1,165,090$700,000, in substantially the form shown on the attached Exhibit C (“TIF BondNote”), for net funds available to be purchased by Redeveloper (“TIF Bond Note Purchaser”), in a written form acceptable to the Authority’s attorneyAgency, and receive Bond Note proceeds from the TIF Bond Note Purchaser in said amount. At the option of the Redeveloper, Starostka Contracting Fifth Street-Contract the Authority Agency shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Note Purchaser’s obligation to purchase the TIF BondNote. Subject to the terms of this Agreement and the Resolution, the AuthorityAgency’s Treasurer on behalf of the Authority Agency shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority Agency as to its terms and participants (including any pledgee thereof). Neither the Authority Agency nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the AuthorityAgency's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation. Redeveloper further understands that neither the Agency nor its counsel make any representation regarding the taxability of the grant provided pursuant to this Redevelopment Contract.

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior to December September 1, 20192022, the Authority shall issue one Tax Increment Development Revenue BondNote, in one taxable series, in a maximum principal amount of 1,165,090$263,200, in substantially the form shown on the attached Exhibit C (“TIF BondNote”), for net funds available to be purchased by Redeveloper (“TIF Bond Note Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Bond Note proceeds from the TIF Bond Note Purchaser in said amount. At the option of the RedeveloperAuthority, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Note Purchaser’s obligation to purchase the TIF BondNote. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior to December 115, 20192015, the Authority shall issue one Tax Increment Development Revenue BondNote, in one taxable series, in a maximum principal amount of 1,165,090two hundred seventy two thousand seven hundred eighty eight and no/100 Dollars ($272,788), in substantially the form shown on the attached Exhibit C (“TIF BondNote”), for net funds available to be purchased by Redeveloper (“TIF Bond Note Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Bond Note proceeds from the TIF Bond Note Purchaser in said amount. At the option of the RedeveloperAuthority, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Note Purchaser’s obligation to purchase the TIF BondNote. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority shall have 6 T & S Land Development, LLC - Contract the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority shall authorize issue the issuance of Indebtedness, in one or more series, from time to time, to the Indebtedness Redeveloper in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment ContractContract and any Redevelopment Contract Amendment; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the Indebtedness, or (ii) the sum of all Redevelopment Project Costs incurred by the Redeveloper as set forth on Exhibit D. D, for each Phase of the Redevelopment Project. No Indebtedness will be issued until Redeveloper has (a) acquired fee title to the Redevelopment Project Property Property; and become obligated (b) entered into a contract for the initial construction of the additions and improvements Project Infrastructure Improvements forming a part of the Project. The Parties intend that the Redevelopment Plan and Redevelopment Project be implemented in Phases as described set forth in the Redevelopment Plan. Prior to December 1, 2019As the Redeveloper incurs Redevelopment Project Costs for a Phase of the Redevelopment Project, the Authority shall issue one Tax Increment Revenue Bond, an additional series of Indebtedness in one taxable series, in a maximum principal an amount of 1,165,090, in substantially not to exceed the form shown on the attached Exhibit C (“TIF Bond”), Redevelopment Project Costs for net funds available to be purchased by Redeveloper (“TIF Bond Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Bond proceeds from the TIF Bond Purchaser in said amount. At the option of the Redeveloper, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Purchaser’s obligation to purchase the TIF Bond. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the IndebtednessPhase. The Redeveloper agrees to purchase the Indebtedness and each additional issue of Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract Contract, amendments hereto and the Resolution. If the Indebtedness cannot be issued and sold to the Redeveloper in a private placement under terms acceptable to the Authority, this Redevelopment Contract shall cease to be in force and effect and the Authority and the City shall have no further obligations hereunder. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior to December March 1, 2019, the Authority shall issue one Tax Increment Development Revenue BondNote, in one taxable series, in a maximum principal amount of 1,165,090One Hundred Ninety Nine Thousand and no/100 Dollars ($199,000), in substantially the form shown on the attached Exhibit C (“TIF BondNote”), for net funds available to be purchased by Redeveloper (“TIF Bond Note Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Bond Note proceeds from the TIF Bond Note Purchaser in said amount. At the option of the RedeveloperAuthority, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Note Purchaser’s obligation to purchase the TIF BondNote. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Paramount Development Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior to December March 1, 2019, the Authority shall issue one Tax Increment Development Revenue BondNote, in one taxable series, in a maximum principal amount of 1,165,090One Hundred Fifty Nine Thousand Eight Hundred and no/100 Dollars ($159,800), in substantially the form shown on the attached Exhibit C (“TIF BondNote”), for net funds available to be purchased by Redeveloper (“TIF Bond Note Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Bond Note proceeds from the TIF Bond Note Purchaser in said amount. At the option of the RedeveloperAuthority, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Note Purchaser’s obligation to purchase the TIF BondNote. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to all the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior Subject to December 1the foregoing, 2019prior to February 15, 2018, the Authority shall issue one Tax Increment Development Revenue BondNote, in one taxable series, in a maximum principal amount of 1,165,090$887,000, in substantially the form shown on the attached Exhibit C (“TIF BondNote”), for net funds available to be purchased by Redeveloper (“TIF Bond Note Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Bond Note proceeds from the TIF Bond Note Purchaser in said amount. At the option of the RedeveloperAuthority, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Note Purchaser’s obligation to purchase the TIF BondNote. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority Xxxxxx Enterprises shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior to December September 1, 20192020, the Authority shall issue one Tax Increment Development Revenue BondNote, in one taxable series, in a maximum principal amount of 1,165,090$112,380, in substantially the form shown on the attached Exhibit C (“TIF BondNote”), for net funds available to be purchased by Redeveloper (“TIF Bond Note Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Bond Note proceeds from the TIF Bond Note Purchaser in said amount. At the option of the RedeveloperAuthority, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Note Purchaser’s obligation to purchase the TIF BondNote. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount Grand Island Hotel of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior to December March 1, 2019, the Authority shall issue one Tax Increment Development Revenue BondNote, in one taxable series, in a maximum principal amount of 1,165,090One Million Eight Hundred Twenty Four Thousand One Hundred Seventy Nine and no/100 Dollars ($1,824,179), in substantially the form shown on the attached Exhibit C (“TIF BondNote”), for net funds available to be purchased by Redeveloper (“TIF Bond Note Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Bond Note proceeds from the TIF Bond Note Purchaser in said amount. At the option of the RedeveloperAuthority, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Note Purchaser’s obligation to purchase the TIF BondNote. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior to December September 1, 20192023, the Authority shall issue one Tax Increment Development Revenue BondNote, in one taxable series, in a maximum principal amount of 1,165,090$4,885,000, in substantially the form shown on the attached Exhibit C (“TIF BondNote”), for net funds available to be purchased by Redeveloper (“TIF Bond Note Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Bond Note proceeds from the TIF Bond Note Purchaser in said amount. At the option of the RedeveloperAuthority, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Note Purchaser’s obligation to purchase the TIF BondNote. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior to December 115, 20192017, the Authority shall issue one Tax Increment Development Revenue BondNote, in one taxable series, in a maximum principal amount of 1,165,090$52,768.00, in substantially the form shown on the attached Exhibit C (“TIF BondNote”), for net funds available to be purchased by Redeveloper (“TIF Bond Note Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Bond Note proceeds from the TIF Bond Note Purchaser in said amount. At the option of the RedeveloperAuthority, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Note Purchaser’s obligation to purchase the TIF BondNote. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority Xxxxxxxx 523 E. Division/206 S. Plum shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior to December 115, 20192016, the Authority shall issue one Tax Increment Development Revenue BondNote, in one taxable series, in a maximum principal amount of 1,165,090$247,561, in substantially the form shown on the attached Exhibit C (“TIF BondNote”), for net funds available to be purchased by Redeveloper (“TIF Bond Note Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Bond Note proceeds from the TIF Bond Note Purchaser in said amount. At Middleton Properties II, LLC Page 6 the option of the RedeveloperAuthority, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Note Purchaser’s obligation to purchase the TIF BondNote. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the PlanPlan and has dedicated Xxxxxx Road, adjacent to the residential project to the City. Prior to December 1, 20192023, the Authority shall issue one Tax Increment Revenue BondNote, in one taxable series, in the principal amount of $1,412,500, in substantially the form shown on the attached Exhibit C (“ Series 2020 A TIF Note”), to be delivered to the City the proceeds of which will be utilized for purposes of improving and paving Xxxxxx Road. Prior to December 1, 2023, the Authority shall issue one Tax Increment Revenue Note, in one taxable series, in a maximum principal amount of 1,165,090$4,237,500, in substantially the form shown on the attached Exhibit C D (““ Series 2020 B TIF BondNote”), for net funds available to be purchased by Redeveloper (“TIF Bond Note Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Bond Note proceeds from the TIF Bond Note Purchaser in said amount. At the option of the Redeveloper, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Note Purchaser’s obligation to purchase the TIF BondNote. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness Series 2020 B TIF Note at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness Series 2020 B TIF Note by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount Hedde Building LLC of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior to December 115, 20192018, the Authority shall issue one Tax Increment Development Revenue BondNote, in one taxable series, in a maximum principal amount of 1,165,090Six Hundred Three Thousand Four Hundred Twenty Five and no/100 Dollars ($603,425), in substantially the form shown on the attached Exhibit C (“TIF BondNote”), for net funds available to be purchased by Redeveloper (“TIF Bond Note Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Bond Note proceeds from the TIF Bond Note Purchaser in said amount. At the option of the RedeveloperAuthority, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Note Purchaser’s obligation to purchase the TIF BondNote. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.

Issuance of Indebtedness. The Authority shall authorize the issuance of the Indebtedness in the form and stated principal amount and bearing interest and being subject to such terms and conditions as are specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount Amur Real Estate 000 X. 0xx P a g e | 6 of the Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment Project Property and become obligated for construction of the additions and improvements forming a part of the Project as described in the Plan. Prior to December 1July, 2019, the Authority shall issue one Tax Increment Development Revenue BondNote, in one taxable series, in a maximum principal amount of 1,165,090Three Hundred Sixty Thousand and no/100 Dollars ($360,000), in substantially the form shown on the attached Exhibit C (“TIF BondNote”), for net funds available to be purchased by Redeveloper (“TIF Bond Note Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Bond Note proceeds from the TIF Bond Note Purchaser in said amount. At the option of the RedeveloperAuthority, Starostka Contracting Fifth Street-Contract the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Bond Note Purchaser’s obligation to purchase the TIF BondNote. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation.