Investment Agreement (Page 2 of 4) in pdf

satisfy its operating expenses due at the time payment is due (or within ten business days

of such due date); or (c) payment of this Investment’s interest cannot be made from

[HOUSING LOAN FUND]’s

available cash at the time payment is due.

[HOUSING LOAN FUND]’s obligation to make payments of interest to Investor Bank

shall not be excused as a result of the occurrence of any of the above circumstances, but

shall be required to be made on the first business day following the payment due date on

which it has the available resources to make the interest payment in whole or in part.

Purpose and Use of Proceeds. [HOUSING LOAN FUND] shall use the

proceeds of the Investment to provide access to capital by homebuyers, small businesses

and community development organizations engaged in economic and community

development and affordable housing, halt community deterioration and create jobs. The

proceeds of this investment will be restricted to use specifically in the assessment area of

Investor Bank to meet community development investment goals and objectives in that

area. So long as any part of the Investment remains outstanding, [HOUSING LOAN

FUND] shall furnish Investor Bank with a quarterly report of investment activity, in such

detail as Investor Bank may from time to time reasonably request.

Conditions. Investor Bank’s obligation to make the Investment shall be

subject to the following conditions:

a) [HOUSING LOAN FUND] shall deliver to Investor Bank a certified copy of

its Articles of Incorporation and a copy of a letter from the Internal Revenue

Service confirming that [HOUSING LOAN FUND] is in good standing as a

501(c)(3) organization.

b) [HOUSING LOAN FUND] shall execute and deliver this Agreement and shall

provide Investor Bank with satisfactory evidence that the investment and this

Agreement have been properly authorized by its board of directors.

c) [HOUSING LOAN FUND] shall maintain its status as a community

development financial institution in accordance with the provisions of 12

C.F.R. Sections 1805.200 and .701, as may be amended from time to time,

throughout the term of this Agreement.

d) [HOUSING LOAN FUND] certifies that at least one community representative

with expertise in long term, high risk financing to small businesses will at all

times during the term of this Agreement be a member of its Board of Directors.

Acceleration of Maturity. Notwithstanding any other provision of this

Agreement, Investor Bank may accelerate the maturity of the Investment, and the entire

balance of principal and interest shall become immediately due and payable only if

[HOUSING LOAN FUND] ceases its normal business operations. For the purposes of

this Agreement,

[HOUSING LOAN FUND] ceases its normal business operations

if it changes its lines of business, uses the proceeds of the Investment for a purpose other

than that specified in Section 3 of this Agreement and the other purpose does not serve the

public welfare as defined in OCC Regulation 12 CFR part 24 (which describes the CRA

Investment Agreement Page 2