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<br />necessary variations, omissions, and insertions as do not
<br />materially affect the substance of the transaction and as the
<br />Mayor and the City Manager, in their discretion, with the advise
<br />of the City Attorney, shall determine; provided that the
<br />execution thereof by the Mayor and City Manager shall be
<br />conclusive evidence of such determination.
<br />
<br />Section 4. The Mayor and the City Manager are hereby
<br />authorized and directed to execute and the Clerk-Treasurer to
<br />attest, under the corporate seal of the City, and deliver the
<br />Assignment of Loan Agreement, dated as of July 1, 1989, among the
<br />Ci ty, the purchaser of the Bonds (the "Lender"), and the Owner
<br />(the "Assignment"), and when executed and delivered as authorized
<br />herein, the Assignment shall be deemed to be a part of this
<br />resolution as fully and to the same extent as if incorporated
<br />herein and shall be in full force and effect from the date of
<br />execution and delivery thereof. The Assignment shall be
<br />substantially in the form on file with the Clerk-Treasurer on
<br />the date hereof, and is hereby approved, wi th such necessary
<br />variations, omissions, and insertions as do not materially affect
<br />the substance of the transaction and as the Mayor and the City
<br />Manager, in their discretion, with the advise of the City
<br />Attorney, shall determine; provided that the execution thereof by
<br />the Mayor and City Manager shall be conclusive evidence of such
<br />determination.
<br />
<br />Section 5. The City acknowledges receipt of forms of the
<br />Combination Mor tgage, Secur i ty Agreement, and Fixture Financing
<br />Statement, dated as of July 1, 1989, executed by the Owner and
<br />his spouse, and the Assignment of Rents and Leases, dated as of
<br />July 1, 1989, executed by the Owner and his spouse, and
<br />understands that these will be delivered in conjunction with the
<br />issuance of the Bonds substantially in the forms on file with the
<br />Clerk-Treasurer on the date hereof, with such necessary
<br />variations, omissions, and insertions as do not materially affect
<br />the substance of the transaction and as the Owner and the Lender
<br />shall determine.
<br />
<br />Section 6. The Guaranty Agreement, dated as of July 1,
<br />1989, executed by Edwin J. Taylor and Diana S. Taylor, is hereby
<br />approved in the form now on file with the Clerk-Treasurer.
<br />
<br />Section 7. All covenants, stipulations, obligations,
<br />representations, and agreements of the Ci ty contained in this
<br />resolution or contained in the Loan Agreement or other documents
<br />referred to above shall be deemed to be the covenants,
<br />stipulations, obligations, representations, and agreements of the
<br />City to the full extent authorized or permitted by law, and all
<br />such covenants, stipulations, obligations, representations, and
<br />agreements shall be binding upon the City. Except as otherwise
<br />provided in this resolution, all rights, powers and privileges
<br />conferred, and duties and liabilities imposed upon the City or
<br />
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