Pennsylvania Infrastructure Investment Authority - PENNVEST

Effective: Sep 13, 2023

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This Funding Agreement, effective September 13, 2023, is between East Deer Township (Funding Recipient) and the Pennsylvania Infrastructure Investment Authority (Authority). It provides financial assistance totaling $457,559.00 for the 'East Deer Twp - Bailies Run Road Waterline Replacement' project. The funding is a loan with no non-repayment component. The project involves replacing a waterline, fire hydrant, service lines, and installing valves. The loan features an interest-only period not exceeding 36 months, followed by an amortization period not exceeding 240 months, with specified interest rates. The agreement outlines definitions, financial terms, representations, warranties, covenants, project collateral, fund disbursement procedures, project management, liability, indemnity, default conditions, and miscellaneous provisions. The contract's term extends until all project funding is repaid and all obligations are satisfied, with a maximum amortization period suggesting an end date around April 1, 2044.

Effective: May 15, 2021

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This Funding Agreement, effective March 25, 2021, formalizes financial assistance from the Pennsylvania Infrastructure Investment Authority to Ridley Township for the 'Ridley Township-Wide Stormwater Improvements' project. The total approved funding is $3,266,864.00, provided as a repayment loan with initial interest rates of 1.452% (Years 1-5) and 2.033% (Years 5+), and an amortization period of up to 240 months. Construction for the project is scheduled to commence on May 15, 2021, and conclude by May 15, 2022. The agreement details the terms of financial assistance, representations, warranties, covenants, collateral, fund disbursement, project management, and default conditions.

Effective: Oct 1, 2020

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This Funding Agreement, effective September 16, 2020, formalizes financial assistance from the Pennsylvania Infrastructure Investment Authority to Auburn Borough for the 'Auburn Borough - 2019 Storm Sewer Replacement Project'. The agreement details the terms of funding, including a total approved amount of $326,098.00, and outlines the responsibilities, representations, warranties, and covenants of both parties. Key project milestones include a construction start date of October 1, 2020, and an estimated completion date of August 1, 2021, with project close-out activities extending to September 1, 2021. The contract also specifies conditions for fund disbursement, project management, and default remedies.