HomeMy WebLinkAboutDisbursements - $8,451,574.50; $48,425.50; $17,564.80 Disbursement Instructions
Lake City Bank hereby is instructed to make a Borrower Loan Account Disbursement in the amount of
$8,451,574.50 into the Borrower Loan Account for the purpose of making disbursements of Loan Proceeds
from the Borrower Loan Account to (or for the account of) Borrower in accordance with the terms and
conditions of the Agreement and the other Loan Documents. All terms used in these Disbursement
Instructions without definition shall have the meanings ascribed thereto in that certain Loan Agreement dated
July 26,2010,by and between Lake City Bank and Carmel City Center Community Development Corporation.
Dated: 7A7 10 CITY OF CARMEL REDEVELOPMENT
//!/// COMMISSION
ey
Lester S. Olds, Executive Director
Lake City Bank hereby Is instructed to make a Borrower Loan Account Disbursement in the amount of
$48,425.50 into the Borrower Loan Account for the purpose of making disbursements of Loan Proceeds from
the Borrower Loan Account to: (a) itself as payment of Lender Fees due and owing to Lender under the
Agreement; and (b)the parties listed on the attached schedule as payment of Loan Costs due and owing to
such parties in the corresponding amounts set forth on the attached schedule. All terms used in these
Disbursement Instructions without definition shall have the meanings ascribed thereto In that certain Loan
Agreement dated July 26, 2010, by and between Lake City Bank and Carmel City Center Community
Development Corporation.
Dated: 7/7/0 CITY OF CARMEL REDEVELOPMENT
COMMI SION
By--S∎'r!. .
Les - si■. Olds, Executive Director
Schedule
Lake City Bank— Commitment Fee $38,250.00
Hall, Render, Killian, Heath & Lyman, P.S.C.—Legal Fees for LCB Loan $10,175.50
Lake City Bank hereby is instructed to make a disbursement of Loan Proceeds from the Borrower Loan
Account to (or for the account of)Borrower In: (a)the amount of the"Total Authorized Disbursement" line in
the'Amount of Authorized Disbursement"column below; and (b) accordance with the terms and conditions
of the Agreement,the other Loan Documents, and the Disbursement Instructions.
Purpose of Authorized Disbursement Amount of Authorized Dlaburbomont
Hall,Render,Killion,Heath S Lyman,P.S.C..Legal Foes for IC Loan Program 517,564.80
Total Authorized Disbursement , ,�. Ai7 584X0};
All terms used in these Disbursement Instructions without definition shall have the meanings ascribed
thereto in that certain Loan Agreement dated July 26, 2010, by and between Lake City Bank and Carmel
City Center Community Development Corporation.
Dated: 7/27/o CITY OF CARMEL REDEVELOPMENT
COM ION
By
Lester S. Olds, Executive Director