HomeMy WebLinkAboutLOAN PUPMER $674,800. FIRSTSAvINGs
B A N K
December 5, 2018
City of Jeffersonville Fire Department
RE: Loan approval for the purchase of One (1) Pierce Dash CF PUC Pumper.
Proposal/Bid#925 for $674,800.
Dear Deputy Chief Shawn Grant, Mayor Mike Moore, and City of Jeffersonville Fire
Department,
First Savings Bank F.S.B. (the "Bank") is pleased to advise you that we have approved a
term loan (the "Credit Facility") to The City of Jeffersonville Fire Department, (the
"Borrower"). The Credit Facility is described in the Summary of Terms and Conditions
that is attached to and made a part of this letter(the "Summary"). The Bank looks
forward to working with you towards the closing of the Credit Facility.
The Summary includes only a brief description of the principal terms of the Credit
Facility. The definitive terms of the Credit Facility will be documented in a Loan
Agreement or other agreements, instruments, certificates and documents called for by the
Loan Agreement or which the Bank may otherwise require (together with the Loan
Agreement, the "Loan Documents").
Although the Bank has approved the Credit Facility, the Bank's obligations are subject to
several conditions. First, the Borrower must accept this letter as provided below, and
must comply with all the other conditions of this letter and the Summary. After receiving
the Borrower's acceptance, the definitive Loan Documents can be prepared. The Bank's
obligations are conditioned on the Loan Documents being signed and delivered to the
Bank in a form that is satisfactory to the Bank. This letter is also issued subject to the
statutory and other requirements by which the Bank is governed. Finally, the Bank's
obligations under this letter are subject to the condition that no material adverse change
occurs in the business, assets, operations, financial condition or business prospects of the
borrower or any guarantor, or with respect to any of the collateral for the Credit Facility.
Due Diligence:
This letter is issued in reliance on the information provided to the Bank by the Borrower
in connection with the Borrower's request for the Credit Facility and in any supporting
documents and material. If the Bank's continuing review discloses information(whether
or not previously disclosed to the Bank) which would likely have a material adverse
effect on the business, assets, operations, condition or prospects of the Borrower, then the
Bank, in its sole discretion, may decline to provide the Credit Facility.
Q 501 E. Lewis&Clark Parkway Clarksville, IN 47129 812.283.0724 phone 812.288.2563 fax
-- FDIC
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Confidentiality:
This letter is for the Borrower's confidential use only. It may not be disclosed by the
Borrower without the Bank's prior written consent to any person (including any financial
institution) other than your accountants, attorneys, and other advisors, and then only in
connection with the transactions contemplated by this letter and on a confidential basis.
All costs and expenses of the Bank will be paid by the Borrower from time to time upon
demand, including, for example, fees and expenses of legal counsel, recording and filing
fees, incurred by the Bank in connection with the preparation, negotiation and delivery of
this letter and the Loan Documents.
The laws of Indiana govern this letter. No modification of waiver of any of the terms of
this letter will be valid and binding unless agreed to in writing by the Bank. When
accepted, this letter will constitute the entire agreement between the Bank and the
Borrower concerning the Credit Facility, and shall replace all prior understanding,
statements, negotiations and written materials relating to the Credit Facility.
To accept the terms of the Credit Facility and this letter,please sign the enclosed copy of
this letter and return it to me December 14, 2018. If this letter is accepted, the Loan
Documents must be signed by February 28, 2019 , or this letter will terminate and the
Bank will have no liability or further obligation.
We appreciate this opportunity to provide financial services to you, and look forward to
your acceptance of this letter.
Very truly yours,Xreg Scales
Vice President
First Savings Bank.
I, Mike Moore, . ' authorized signer for City of Jeffersonville, hereby accept this
Commitment L •r. '
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