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- e e - strictions and limitations thereof. This Note does not consti- tute a charge against the general credit or taxing powers of the City and does not grant to the owner or holder of this Note any right to have the City levy any taxes or appropriate any funds for the payment of the principal hereof or interest hereon, nor is this Note a general obligation of the City or the indi- vidual officers or agents thereof. This Note and interest hereon are payable solely and only from the moneys received under the Loan Agreement hereinafter mentioned, including the loan repay- ments to be made by S-H Realty, a Minnesota general partnership (the "Company") and from enforcement of the Mortgage, Assignment of Rents and Guaranty Agreement hereinafter described. This Note is a special obligation Note in the principal amount of $712,000 which has been authorized by law to be issued and has been issued for the purpose of funding a loan from the City to the Company to finance the costs of constructing an office-manufacturing facility in the City (the "Project") which is to be leased to Scarp-Heilman Co., a Minnesota corporation (the "Lessee") for use in its business. This Note is issued pursuant to a Loan and Purchase Agreement (the "Loan Agreement") by and among the City, the Company and First State Bank of New Brighton (the "Lender") dated as of June 1, 1979, and a Bond Resolution of the City duly adopted June 26, 1979. This Note is secured by the Loan Agreement, the Bond Resolution, a Combination Mortgage, Security Agreement and Fixture Financing Statement (the "Mortgage") by the Company to the said Lender dated as of June 1, 1979, an Assignment of Lease and Rents dated as of June 1, 1979 (the "Assignment of Rents") from the Company to the Lender, a Guaranty Agreement dated as of June 1, 1979 (the "Guaranty Agreement") from J. Daryl Scarp and George L. Heilman to the Lender and an Escrow Agreement dated as of June 1, 1979, by and among the City, the Company, the Lender and First State Bank of New Brighton (the "Escrow Agreement") providing for the disburse- ment of the proceeds of the Note for the costs of the Project, to which Loan Agreement, Bond Resolution, Mortgage, Assignment of Rents, Guaranty Agreement and Escrow Agreement and amendments thereof reference is hereby made for a description and limitation of the revenues and funds pledged and appropriated to the payment of the Note, the nature and extent of the security thereby created, the rights of the Holders of the Note, the rights, duties and im- munities of the Company and the rights, immunities and obligations of the City thereunder. Certified copies of the Bond Resolution and executed counterparts of the Loan Agreement, Mortgage, Assign- ment of Rents, Guaranty Agreement and Escrow Agreement are on file at the office of the City Clerk. In the event of a Determination of Taxability, as defined in the Loan Agreement, the Note shall bear interest at the rate of 11.00% per annum from the date from which interest