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. r RESOLUTION NO.~&j RESOLUTION RELATING TO A $1,500,000 CITY OF NEW BRIGHTON, MINNESOTA, COMMERC IAL DEVELOPMENT REVENUE NOTE; AUTHORIZING THE ISSUANCE THEREOF PURSUANT TO MINNESOTA STATUTES, CHAPTER 474, AND PRESCRIBING THE FORM OF VARIOUS DOCUMENTS AND DETER- MINING OTHER MATTERS IN CONNECTION THERE- WITH. BE IT RESOLVED by the City Council of the City of New Brighton, Minnesota, as follows: Section 1. Definitions. 1.01. In this Resolution the following terms have the fOllowing respective meanings unless the context hereof or use herein clearly requires otherwise: "Act" means the Minnesota ~unicipal Industrial Development Act, as amended and supplemented, being Minnesota Statutes, Chapter 474, as amended; "Agreement" means that dated as of December 1, 1982, the Issuer, the Lender and the be from time to time amended, in accordance with its terms; certain Loan Agreement, to be entered into among Borrower, as the same may modified or supplemented "Assignment" means, collectively, that certain Assignment of Leases and Rents, dated as of December 1, 1982, by and between the Bor rowe r and the Lender, and that certain Assignment of Leases and Rents, dated as of December 1, 1982, by and between the Tenant and the Lender; "Borrower" means SR Building Company, a general partnership duly formed and existing under the laws of the State of Minnesota, its successors and assigns, including any surviving, resulting or transferee busi- ness entity as provided in Section 4.16 of the Agree- ment; "Building" means the same as that term is defined in the Agreement; "Construction Costs" means those costs defined as Construction Costs in the Agreement; "Contract" means that certain Contract for Private Development, dated as of November 18, 1982, by and - 2 -