Examples of County Loan Agreement in a sentence
Subject to the Buyer's execution of the County Loan Agreement in a form satisfactory to the County, the County consents to the Assignment.
Subject to the Buyer's execution of the County Loan Agreement in a form satisfactory to the County, the County consents to the Transfer.
Residual Receipts as defined in the County Loan Agreement, shall specifically include, but not be limited to, the amount by which gross revenues exceed annual debt service payments, approved operating expenses, payments to replacement reserve, and a priority payment fee of up to $200 per unit for APAH Resident Services, which can be escalated annually at two percent (2%).
In April 2006, the Hospital entered into a loan agreement (the County Loan Agreement) with the County to borrow up to $850,000 to assist an unrelated third-party (the Developer) in developing certain home sites in a subdivision (the Subdivision) in Reedsport, Oregon.
In conjunction with entering into the County Loan Agreement, the Hospital entered into a development agreement with the Developer, whereby the Hospital loaned the developer $1,050,000, the Developer has agreed to remit all home site net sales proceeds to the Hospital until all outstanding borrowings under the County Loan Agreement (including interest) have been repaid, and the Developer has granted the Hospital a security interest in the Subdivision.
Any remaining unpaid amounts owed under the County Loan Agreement will be due and payable in April 2021.
Principal and interest amounts are due based on the net sales proceeds of home sites sold by the Developer (i.e., as sales are made, the proceeds, net of closing costs and realtor fees, will be remitted by the Developer to the Hospital and then to the County and applied against outstanding accrued interest and borrowings under the County Loan Agreement).
WHEREAS, the payments made by the R&E Board under the Loan Agreement and the Ramsey County Loan Agreement will be credited on a pro rata basis against the Ramsey County Portion of the Enhancements Loan and the Washington County Portion of the Enhancements Loan.
The Buyer hereby accepts the Assignment and assumes the Seller's obligation to repay the Original Xxxxx Loan, in accordance with the terms of a promissory note from the Buyer to the County to be executed concurrently with the County Loan Agreement.
County Loan Agreement, HOME Investment Partnerships Program, Owner Reconstruction Program, with James B.