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Section 6. Limitations of the City's Obliqations. <br />Notwithstanding anything contained in the Note, the Loan <br />Agreement, the Pledge/Disbursement Agreement, or any other <br />documents referred to in Section 3.3, the Note shall not <br />be payable from nor charged upon any funds of the City <br />other than the revenue under the Loan Agreement pledged to <br />the payment thereof, nor shall the City be subject to any <br />liability thereon. No Holder or Holders of the Note shall <br />ever have the right to compel any exercise of the taxing <br />power of the City to pay the Note or the interest thereon, <br />nor to.enforce payment thereof against any property of the <br />City except the Project, or portions thereof, mortgaged or <br />otherwise encumbered by the Mortgage. The Note shall not <br />constitute a charge, lien, or encumbrance, legal or <br />equitable, upon any property of the City, except the <br />Project, or portions thereof, mortgaged or otherwise <br />encumbered by the Mortgage. The Note, including interest <br />thereon, is payable solely from the revenue under the Loan <br />Agreement pledged to the payment thereon. The Note ~shall <br />not constitute a debt of the City within the meaning of <br />any constitutional, statutory or charter limitation. <br />However, nothing contained in this Section 6 shall impair <br />the rights of the Holder or Holders of the Note to enforce <br />covenants made for the security thereof as provided under <br />the provisions of Minnesota Statutes, Section 474.11. <br /> <br />1979. <br /> <br />Adopted by the Council this llth day of j~ , <br /> <br />Mayor <br /> <br />Attest: <br /> <br />Lloyd G. Schnelle, <br />City Clerk <br /> <br />17- <br /> <br /> <br />