Resolution 2219 - Laserfiche WebLink

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. e e " for prepayment, funds shall be paid to the registered owner hereof at his registered address, sufficient to pay the Note and accrued interest thereon. Upon the happening of the above conditions, the Note thus called shall not bear interest after the date specified for prepayment. This Note is transferable, as provided in the Bond Resolution, only upon the Note register of the City Clerk, as bond registrar, by the owner hereof in person or by his duly authorized attorney, as provided in the Bond Resolution. In case this Note shall become mutilated, lost or destroyed, a substitute Note may be issued in the manner and subject to the conditions provided in the Bond Resolution. In case an Event of Default as defined in the Loan Agreement occurs, the Note and the Loan Repayments thereafter to become due under the Loan Agreement may become immediately due and payable, in the manner and with the effect and subject to the conditions provided in the Loan Agreement. The Holder of the Note shall have the right to enforce the provisions of the Bond Resolution, Loan Agreement, Lnan ~qreement Assignment, Mortgage, Assignment of Rents, Guaranty Ag1:~ement and Escrow Agreement. The terms and provisions of the Bond Resolution, Loan Agreement, Mortgage, Assignment of Rents, Guaranty Agreement and Escrow Agreement, or of any instrument supplemental thereto, may be modified or altered pursuant to Section 9.09 of the Loan Agreement and paragraph 11 of the Bond Resolution. It is hereby certified and recited and the City Council has found: That the Project is an eligible "project" defined in section 474.02, Subd. 1 of the Act; that the issuance of the Note and the acquisition and construction of the Project will promote the public welfare and carry out the purposes of the Act; that the Project has been approved by the Commissioner of Securities of the State of Minnesota as tending to further the purposes and policies of the Act; that all acts, conditions and things required to be done precedent to and in the issuance of this Note have been properly done, have happened and have been performed in regular and due time, form and manner as required by law; and that this Note does not constitute a debt of the City within the meaning of any constitutional or statutory limitation. IN WITNESS WHEREOF, the City of New Brighton, by its City Council, has caused this Note to be signed in its behalf by the manual signatures of the Mayor and the City Manager and sealed with the corporate seal of the City, all as of the 29th day of June, 1979. CITY OF NEW BRIGHTON By Mayor (Seal) And by City Manager -4-