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NOW THEREFORE BE IT RESOLVED by the City Council of the City of New <br /> Brighton, Minnesota(the "Council") as follows: <br /> 1. The City has determined that it is reasonable and necessary in order to facilitate <br /> Developer's plans for the Project and the Development Property, and the City hereby <br /> approves the Subordination Agreement in substantially the form presented to the Council, <br /> together with any related documents necessary in connection therewith, including without <br /> limitation one or more collateral assignments of the TIF Assistance Agreement to lenders <br /> providing financing for the Project (collectively, the "Development Documents") and <br /> hereby authorizes and directs the Mayor and the City Manager to execute the <br /> Development Documents on behalf of the City. <br /> 2. The approval hereby given to the Development Documents includes approval of such <br /> additional details therein as may be necessary and appropriate and such modifications <br /> thereof, deletions therefrom and additions thereto as may be necessary and appropriate <br /> and approved by legal counsel to the City and by the officers authorized herein to execute <br /> said documents prior to their execution; and said officers are hereby authorized to <br /> approve said changes on behalf of the City. The execution of any instrument by the <br /> appropriate officers of the City herein authorized shall be conclusive evidence of the <br /> approval of such document in accordance with the terms hereof. In the event of absence <br /> or disability of the officers, any of the Development Documents authorized by this <br /> Resolution to be executed may be executed without further act or authorization of the <br /> Council by any duly designated acting official, or by such other officer or officers of the <br /> Council as, in the opinion of the City Attorney, may act in their behalf. <br /> The motion for adoption of the foregoing resolution was duly seconded by member <br /> 1VG A\ c)aco CVO and, after full discussion thereof, and upon a vote being taken thereof, the following <br /> voted in favor thereof: aativ , j t,\\ \ct 1 skA c1aubvDsz.v\‘ <br /> the following voted against same:_IA. N.1 , <br /> and the following abstained:`AD1/.c <br /> Adopted this 10th day of December 2019 by the New Brighton City ouncil with a vote of <br /> b ayes and fl nays. <br /> Valeri Johnson, Mayor <br /> Devi assop st, cting City Manager <br /> Attest: <br /> Terri Spangrud, Cit Clerk <br /> 625827v1NE136-270 2 <br />