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<br /> Rural Economic Development Loan Agreement and EXHIBIT E
<br /> Legally Binding Commitment, Private Owner 2pzo-oz5-s2p1-2587
<br /> BUILDING REUSE PROGRAM—Revision#3
<br /> Unit so that it and/or Commerce can verify their creation and maintenance, as well as
<br /> the maintenance of the Baseline Number of jabs and the satisfaction of all other
<br /> conditions and terms of this LBC and the Project, The Owner shall cause any
<br /> Business to provide to the Governmental Unit and Commerce, or their respective
<br /> designees, full and complete access to all records of the Business necessary to verify
<br /> the number and types of jobs created and maintained,the wages paid to employees
<br /> and all other conditions and terms of this LBC and the Project, Failure of any
<br /> Business to provide such access upon request shall constitute a material default by the
<br /> Owner under the terms of this LBC and,in the sole discretion of the Governmental
<br /> Unit and/or Commerce,may subject the Owner to repayment in an amount calculated
<br /> under Paragraph 13 below,
<br /> 4. Changes in the Project or Other Conditions.
<br /> (a). A"Project Change" is any material alteration, addition,deletion or expansion of the
<br /> Project, including(without limitation)material changes to construction or
<br /> rehabilitation,the terms or conditions of the loan under the LBC, the required number
<br /> of New Jobs, the matching investment in the Project, any cessation of business by the
<br /> Owner or any Business and any filing of bankruptcy by the Owner or any Business,
<br /> There shall be no Project Changes unless expressly approved of by Commerce and
<br /> the Governmental Unit in a separate,prior written agreement stating,if applicable, the
<br /> costs and schedule for completing the Project Change.
<br /> (b). Additionally,the Owner shall immediately notify the Governmental Unit of any
<br /> change in conditions or local law,or any other event,which may significantly affect
<br /> the ability of it or any Business to perform the LBC or the Project. In their sole
<br /> discretion, the Governmental Unit or Commerce may deem such a change in
<br /> conditions, local law or other event to constitute a Project Change.
<br /> S. Term of LBC. The effective period of this LBC shall commence 10/17/2019("Effective
<br /> Date")and shall terminate 12/31/2022 unless terminated on an earlier date under the terms
<br /> of this LBC(either one of which dates shall constitute the"Termination Date")or unless
<br /> extended for an express term in writing by the Governmental Unit,
<br /> 6. Independent Status of the Governmental Unit.
<br /> (a), The State(including,without limitation,the Rural Authority and Commerce)and the
<br /> Governmental Unit are independent entities from one another and from the Owner
<br /> and any third party(including,without limitation,any Business). The Grant
<br /> Agreement,the LBC, the Project and any actions taken pursuant to them shall not be
<br /> deemed to create a partnership or joint venture between the State and the
<br /> Governmental Unit or between or among either of them and the Owner or any third
<br /> party(including,without limitation, any Business). Nor shall the Grant Agreement,
<br /> the LBC or the Project be construed to make any employees, agents or members of
<br /> the Owner or any third party(including,without limitation, any Business) into
<br /> employees,agents, members or officials of the Governmental Unit or the State or to
<br /> make employees, agents,members or officials of the Governmental Unit into
<br /> employees,agents,members or officials of the State. Neither the Owner nor any third
<br /> parry(including,without limitation, any Business)shall have the ability to bind the
<br /> Legally Binding Commitment-3 j
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