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<br />-4- <br /> <br />Page Four <br /> <br />8. FInancIal Statements. The City shall submIt to the National Trust current <br />fInancIal statements withIn ninety C9D) days of the end of each fiscal year <br />during the period of Fund financial assistance. This InformatIon should consist <br />of a balance sheet and an Income and expense statement. These statements <br />preferably should be audIted and certifIed by an Independent certified publIc <br />accountant. <br /> <br />9. Acknowledgement of Support. The Trust's loan commItment shall be <br />publIcized widely. Promotional materials and publications related to the <br />Project should contain an appropriate acknowledgment of the NatIonal Trust's <br />partIcipatIon using the following statement: "ThIs project has been <br />accomplIshed In part as a result of financIal assIstance from the National Trust <br />for HistorIc Preservation," A constructIon sIgn shall be displayed prominently <br />at the site acknowledgIng the National Trust's financIal assistance to the <br />Project, <br /> <br />ID. Nonassignablllty. This fInancial assIstance commItment Is Issued on the <br />condition that the NatIonal Trust's obligatIon hereunder shall In no event be <br />assignable wIthout its prior wrItten approval. <br /> <br />11. OrganizatIonal AuthorizatIons and Changes <br /> <br />A, The National Trust will require at the time of the disbursements of the <br />Loan a certIfication by the CIty that the borrowIng has been properly authorized <br />and that the appropriate officers of the City have been authorized to execute <br />the closing documents, <br /> <br />B, DurIng the tenm of the Loan, the CIty shall Immediately notIfy the <br />NatIonal Trust of any contemplated materIal change In Its organization such as, <br />but not lImited to, a change In management personnel, governing Instruments or <br />fInancial status. <br /> <br />Please evidence your acceptance of this commitment by duly executing the <br />orIginal of this letter In the IndIcated space below and returnIng It to the <br />National Trust to the attentIon of DIrector, FInancial Services. Your signature <br />should be attested by an officer of the corporation. FaIlure to accept wIthin <br />sixty CGD) days from the date hereof shall render thIs offer for financial <br />assistance null and void. The signed copy of thIs letter Is for your records. <br />If you have any questions concernIng thIs commitment, please feel free to <br />contact Ms. Lyn Howell MoriarIty, Program Officer, <br /> <br />The National Trust is pleased to offer this assIstance to the City of Paris Main <br />Street Project to help further Its preservation efforts, <br /> <br />SIncerely, <br /> <br />J. Jackson Walter <br />PresIdent <br />