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. . 7. Execution, Deliverr and Endorsement of Bond. The Bond may be in typewritten or pr1nted form and shall be 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 Messrs. Faegre & Benson, of Minneapolis, Minnesota, bond counsel, pursuant to the Loan Agreement. At the time of delivery of the Bond (the "Initial Closing") the Authorized Company 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 Company pursuant to the Loan Agreement at the Initial Closing. At each Subsequent Closing, the Authorized Company 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 Company 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 regularity 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- rized 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 Company evidence of such loss, theft or destruction satis- factory to the City and the Company, together with indemnity satisfactory to them. The City and Company may charge the Holder with their reasonable fees and expenses in replacing any muti- lated, lost, stolen or destroyed Bond. -5-