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The Ci will reserve the right to: (i) waive non-substantive informalities of any proposal or of matters elating to the receipt of proposals and award of the Bonds, (ii) reject all proposals without ause, and (iii) reject any proposal that the City determines to have failed to comply with the tern~~ herein. CUSIF NUMBERS If the nds qualify far assignment of CUSIP numbers such numbers will be printed on the Bonds, ut neither the failure to print such numbers on any Bond nor any error with respect thereto ill constitute cause for failure or refusal by the purchaser to accept delivery of the Bonds, he CUSIP Service Bureau charge far the assignment of CUSIP identification numbers shall b aid by the purchaser. SETTLEMENT Within 0 days following the date of their award, the Bonds will be delivered without cost to the purcha r through DTC in New York, New York. Delivery will be subject to receipt by the purcha r of an approving legal opinion of Kennedy & Graven, Chartered of Minneapolis, Minne ta, and of customary closing papers, including a no-litigation certificate. On the date of settlem t, payment for the Bonds shall be made in federal, ar equivalent, funds that shall be receive at the offices of the City or its designee not later than 12:00 Noon, Central Time. Unless ornpliance with the terms of payment for the Bonds has been made impossible by action of the ty, or its agents, the purchaser shall be liable to the City for any loss suffered by the City by reas n of the purchaser's non-compliance with said terms for payment. CONTINUING DISCLOSURE In acc dance with SEC Rule 15c2-12(b)(5), the City will undertake, pursuant to the resolution awardi sale of the Bonds, to provide annual reports and notices of certain events. A descri on of this undertaking is set forth in the Official Statement. The purchaser's obligation to pur ase the Bonds will be conditioned upon receiving evidence of this undertaking at or prior to deli ry of the Bonds. OFFICIAL STATEMENT The C' has authorized the preparation of an Official Statement containing pertinent information relativ to the Bonds, and said Official Statement will serve as a nearly final Official Statement within a meaning of Rule 15c2-12 of the Securities and Exchange Commission. For copies of the O vial Statement or for any additional information prior to sale, any prospective purchaser is refe ed to the Financial Advisor to the City, Springsted Incnrparated, 380 Jackson Street, Suite 0, Saint Paul, Minnesota 55101, telephone (651) 223-3000. The O xcial Statement, when further supplemented by an addendum ar addenda specifying the maturi dates, principal amounts and interest rates of the Bonds, together with any other info tion required by law, shall constitute a "Final Official Statement" of the City with respect to the onds, as that term is defined in Rule 15c2-12. By awarding the Bonds to any underwriter or un rwriting syndicate submitting a proposal therefor, the City agrees that, no more than seven usiness days after the date of such award, it shall provide without cast to the senior mono i g underwriter of the syndicate to which the Bonds are awarded 50 copies of the Official 309036v JB NE136-215