Nashua Performing Arts Center - NMTC Term Sheet Confidential
October 14, 2020
| throughout the investment term. These representations, covenants and
certifications will be incorporated in the transaction documents, and with prior
written notice to Borrower from Investment Fund or Sub-CDE, may be changed
or amended in the event of newly revised regulations or to the extent reasonably
requited by Investment Fund’s or Sub-CDE’s legal counsel.
Additional Closing | Investor shall perform such due diligence and legal review of the transactions
Conditions: contemplated herein, including but not limited to the following:
1. All organizational documents for all entities involved in these transactions;
2. Standard construction / loan diligence, including without {imitation
construction contracts, title, survey, final plans and specifications, casualty,
builders’ risk and liability insurance, environmental reports, flood insurance
(if applicable), and lease and management agreements (if applicable);
3. Financial statements on all entities involved in these transactions;
4. Final financial projections, “source and use” statements, etc. prepared by the
Accountant;
5. All terms and conditions of all agreements, documents and similar items
affecting the financing of the Project;
6. Final executed transaction documents;
7. Evidence of the funding and/or availability of all sources of funds necessary
to complete the Project;
8. Executed state law and federal tax opinions as determined by Investor; and
9. All matters deemed reasonably necessary by Investor or Sub-CDE.
FIN 46 Disclaimer: | Any investor, Community Development Entity (a “CDE™”), or lender (including
any leveraged lender) involved in this transaction will undertake its own
independent investigation and financial and accounting evaluation of the
transaction and its investment or loan therein, including without limitation the
consolidation requirement under FIN 46. No investor, CDE, or lender has sought
or relied upon any representations, warranties or statements of any kind made by
or on behalf of any other party in this regard.
This is not a commitment or offer to lend or invest, but is instead only a brief description of the
proposed terms of the proposed transaction and is intended for discussion purposes only. This letter
does not purport to summarize sil terms, conditions, representations, warranties and other
provisions that may be contained in lean and equity documentation. Except as set forth in the
“Transaction Costs”, “Deposit”, “Timing”, “Termination” and “Confidentiality” sections above,
neither the proposed terms herein nor any Oral understandings relating to an investment or loan
are binding and shall not create any obligation om the part of Investor, Project Sponsor, Borrower
or any other parties until and unless such terms or understandings have been reduced to a written
agreement execated and delivered by, as applicable, Investor, Investment Fund, Borrower, Project
Sponsor, Fund Lender and the applicable guarantor(s). The terms of this proposal are for
Borrower's, Project Sponsor's and Investor's confideutial use aud may not be disctosed by it to any
other person other than its respective employees, attorneys and financial advisors, and then only in
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