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. ,.-.." funds to be loaned by the City to the Partnership to pay Project Costs, as defined in the Loan Agreement, then due or reimburse the Partnership for Project Costs paid by the Partnership. 7. Execution, Deliver and Endorsement of Bond. The Bond may be in typewrltten or prlnted form an s a e executed by the manual signatures of the Mayor and city Manager and the official seal of the City shall be affixed thereto. When so prepared and executed, the Bond shall be delivered to the Bank upon payment of all or part of the purchase price, and upon receipt of the signed legal opinion of Faegre & Benson, of Minne- apolis, Minnesota, bond counsel, pursuant to the Loan Agreement. At the time of delivery of the Bond (the "Initial Closing") the Authorized PartnerShip Representative shall endorse and aCknowledge receipt on Annex A to the Bond the part of the total purchase price paid by the Bank at the Initial Closing and loaned by the City to the Partnership pursuant to the Loan Agreement at the Initial Closing. At each Subsequent Closing, the Authorized Partnership Representative shall endorse and acknowledge receipt on Annex A to the Bond the part of the total purchase price paid by the Bank at such Subsequent Closing and loaned by the City to the Partnership at such Subsequent Closing. The Bond shall bear interest only on the amount so paid, loaned and endorsed on Annex A, from time to time, and remaining unpaid. The Bond shall contain a recital that it is issued pursuant to the Act, and such recital shall be conclusive evidence of the validity and regular- ity of the issuance thereof. 8. Registration Records. The City Clerk, as bond registrar, shall keep a bond register in which the City shall provide for the registration of the Bond and for transfers of the Bond. The principal of and interest on the Bond shall be paid to the Bank for the account of the Holder entitled thereto in Federal or other immediately available funds. The City Clerk is autho- ~ized and directed to deliver a certified copy of this Bond Resolution to the County AUditor of Ramsey County, together with such other information as the County Auditor may require, and obtain the certificate of the County Auditor as to entry of the Bond on his bond register as required by the Act and Section 475.63, Minnesota Statutes. 9. Mutilated, Lost, Stolen or Destroyed Bond. If the Bond is mutilated, lost, stolen or destroyed, the City may execute and deliver to the Holder a new Bond of like amount, date, number and tenor as that mutilated, lost, stolen or destroyed; provided that, in the case of mutilation, the mutilated Bond shall first be surrendered to the City, and in the case of a lost, stolen or destroyed Bond, there shall be first furnished to the City and the Partnership evidence of such loss, theft or destruction satisfactory to the City and the PartnerShip, together with indemnity satisfactory to them. The city and Partnership may Charge the Holder with their reasonable fees and expenses in replacing any mutilated, lost, stolen or destroyed Bond. -5-