2003-06-05-PEDC - Laserfiche WebLink

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Paris Economic Development Corporation June 4, 2003 Page 4 of 5 Closing Costs: The Borrower will pay all reasonable costs and expenses incurred at any time by Lender (including, without duplication, all reasonable attorneys' fees and disbursements in. connection with the preparation and delivery of the loan agreement and all related documents for the Loan). Tax-free bank qualified opinion (if applicable): Lender will engage the services of outside legal counsel to provide a tax-free legal opinion on this transaction with the Borrower, and the preparation. The Lender's proposed interest rate is tax,free Bank Qualified, which will require the Borrower to execute an IRS Form 8038-G, Information Return for Tax-Exempt Governmental Obligations. The fulfillment of these requirements along with the confirmation of this transaction's tax-free bank qualified opinion provides support to the pricing for this loan. Amendments or ModifiCations: All amendments or modifications to this letter must be in writing and signed by the Lender. Expiration Date: The commitment described in this letter shall expire and become null and void at the close of business on July 8, 2003, unless the executed original of this letter is received by Lender prior to the Expiration Date. Closing Date: This commitment, once accepted by Borrower, will expire 30 days after the acceptance hereof, unless, prior to that date, all of the conditions precedent to the Loan have been fully satisfied and the Loan has closed. Confidentiality: All correspondence from Lender and Borrower, including this commitment letter and all closing documents, are confidential. Governing Law: This commitment letter and the committed Term Loan transaction is governed by Texas Law. Prepayment: A prepayment penalty will not be assessed for prepayment on any of the loan facilities in this commitment letter.