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. . this Bond any right to have the city levy any taxes or appropriate any funds for the payment of the principal hereof or interest hereon, nor is this Bond a general obligation of the city or an obligation of the individual officers or agents thereof. This Bond and interest hereon are payable solely and only from the moneys received under the Loan Agreement hereinafter mentioned, including loan repayments to be made by Chemical Technology, Inc., a Minnesota corporation (the "Company") and from enforce- ment of the Security Agreement and Guaranty Agreement hereinafter mentioned. This Bond represents an authorized series of special obligation Bonds of an aggregate principal amount of $300,000, which have been authorized by law to be issued and have been issued for the purpose of funding a loan from the city to the Company to finance costs of acquiring and installing certain equipment to be located permanently in and to become a part of the plant building leased by the Company in the City for its use (the "Project"). This Bond is issued pursuant to a Loan and Purchase Agreement (the "Loan Agreement") by and among the City, the Company and the Bank, dated as of August 1, 1980, and a Bond Resolution of the city duly adopted August 12, 1980. Pursuant to a Loan Agreement Assignment dated as of August 1, 1980 (the "Assignment"), the City has assigned its interest in the Loan Agreement (except its rights under Sections 5.02, 7.01, 8.04 and 8.05 thereof) to the Bank. This Bond is secured by the Loan Agreement, the Assignment, the Bond Resolution, a Guaranty Agree- ment dated as of August 1, 1980, executed by Irvin P. Moen (the "Guarantor") to the Bank (the "Guaranty Agreement") and a Security Agreement (the "Security Agreement") by the Company to the said Bank dated as of August 1, 1980, to which Loan Agreement, Assign- ment, Bond Resolution, Guaranty Agreement and Security Agreement and amendments thereof reference is hereby made for a description and limitation of the revenues and funds pledged and appropriated to the payment of the Bond, the nature and extent of the security thereby created, the rights of the Holder of the Bond, the rights, duties and immunities of the Bank and the rights, immunities and obligations of the city thereunder. Certified copies of the Bond Resolution and executed counterparts of the Loan Agreement, the Assignment, the Guaranty Agreement and the Security Agreement are on file at the office of the City Clerk. The outstanding and unpaid balance of advances on account of the authorized principal sum of this Bond is equal to the aggregate of loans made by the City to the Company from Bond proceeds paid by the Bank under the Loan Agreement, as evidenced by the notations on Annex A attached to this Bond and hereby made a part hereof, less repayments of principal made to the Holder hereof. As provided in the Loan Agreement, the notation of the amount and date of an advance and receipt by the Authorized Company Representative set forth on Annex A is conclusive evidence of the amount and date of the payment by the Bank, the loan by the Municipality to the Company, and the receipt of the loan by the Company. The Bond shall be sUbject to prepayment on any -2-