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Representative within thirty (30) days of receipt by Lender. The amounts due to the Authorized <br />Representative are identified in Exhibit B hereto. As required by Section 399.009(x)(8) of the <br />PACE Act, the period during which such installments are payable does not exceed the useful life <br />of the Project. When the Assessment together with any prepayment premium, and/or default <br />penalties and interest, if any, has been paid in full, Local Government's rights under this Owner <br />Contract will cease and terminate. Upon notice from Lender that all amounts owing have been <br />paid in full, Local Government will execute a release of the Assessment and this Owner Contract. <br />Thereafter, the Lender will record the release. <br />Section 3. Assignment of Right to Receive Installments. Lender will have the right to <br />assign or transfer the right to receive the installments of the Assessment, provided all of the <br />following conditions are met: <br />(a) The assignment or transfer is made to a qualified lender, which may be one of the <br />following: <br />(i) Any federally insured depository institution such as a bank, savings bank, <br />savings and loan association and federal or state credit union; <br />(ii) Any insurance company authorized to conduct business in one or more <br />states; <br />(iii) Any registered investment company, registered business development <br />company, or a Small Business Administration small business investment <br />company; <br />(iv) Any publicly traded entity; or <br />(v) Any private entity that: <br />(A) Has a minimum net worth of $5 million; <br />(B) Has at least three years' experience in business or industrial lending <br />or commercial real estate lending (including multifamily lending), or has a lending <br />officer that has at least three years' experience in business or industrial lending or <br />commercial real estate lending; <br />(C) Can provide independent certification as to availability of funds; and <br />(D) Has the ability to carry out, either directly or through a servicer, the <br />bookkeeping and customer service work necessary to manage the assessment <br />accounts. <br />(b) Property Owner and Authorized Representative are notified in writing of the <br />assignment or transfer and the address to which payment of the future installments should be <br />