Laserfiche WebLink
<br />E) The tax-exempt interest rates quoted herein take into consideration a corporate tax rate of <br />35%. In the event of a change in the maximum corporate tax rate, the Bank shall have the <br />right to adjust the interest rate in order to maintain the same after tax yield. <br /> <br />F) The Bank shall have the right to adjust the tax-exempt interest rate in order to maintain the <br />same after tax yield if any amendments to existing law are enacted which would adversely <br />affect the Bank's after tax yield including any "determination oftaxability" as will be defined in <br />the loan documentation. <br /> <br />G) The Borrower shall comply with and agree to such other covenants, terms, and conditions <br />that may be reasonably required by the Bank and its counsel and are customary in tax- <br />exempt financings of this nature. These covenants would include, but are not to be limited <br />to, covenants regarding compliance with laws and regulation, remedies in the event of <br />default and bond counsel's opinion regarding the tax exempt and "Bank qualified" nature of <br />the facility. <br /> <br />After you have had a chance to review the following information, please contact Delle Joseph at <br />(305) 579-7014 with any questions. SunTrust greatly appreciates the opportunity to provide this <br />financing proposal to the City of Sunny Isles Beach <br /> <br />Sincerely, <br /> <br />t1,ust BaV <br /> <br />Delle~ <br />First Vice President <br /> <br />Acceptance of Proposal: <br /> <br />BORROWER ACCEPTS THE PROPOSAL AS RENDERED: <br /> <br />Date <br /> <br />3 <br />