Section 1808.611 - Covenants of Eligible CDFI with respect to Bond and each Bond LoanThe Eligible CDFI shall covenant in the Bond Loan agreement that it will:
(a) Furnish to the Qualified Issuer, at the Eligible CDFI's expense, certain annual and periodic financial and performance reporting;(b) Maintain books and records related to the Bond Loan and Secondary Loans, the collateral and the project that is to be financed by Bond Loan proceeds, and allow inspection thereof;(c) Preserve its corporate existence and Certified CDFI status;(d) Comply with all laws to which it is subject;(e) Maintain insurance, as required by the Qualified Issuer, against such risks as would customarily be maintained by commercially reasonable companies in a similar line of business;(f) Pay and discharge all Federal, State and local taxes;(g) Ensure proper use of proceeds of the Bond Loan;(h) Pay all required administrative expenses;(i) Indemnify the Guarantor, the CDFI Fund, the Qualified Issuer and the Master Servicer/Trustee and their Affiliates;(j) Collaterally assign all rights, title, and interest in and to Secondary Loan collateral to the Master Servicer/Trustee;(k) Maintain the collateral;(l) Enforce the covenants against the Secondary Borrowers;(m) Be bound, to the extent applicable, to provisions of the Bond Trust Indenture;(n) Periodically, as directed by the CDFI Fund, furnish certain information designed to measure the impacts of the Bond Loan and the CDFI Bond Guarantee Program;(o) Periodically, as directed by the CDFI Fund, furnish to the Qualified Issuer and/or the CDFI Fund updates to the Capital Distribution Plan; and(p) Comply with all other representations and warranties set forth in the Bond Loan documents.