Resolution - #80-51 - 06/01/1980

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11. Amendments, Changes and Modifications to Loan Agreement and Bond Resolution. Except pursuant to Section 9.03 of the Loan Agreement, the City shall not enter into or make any change, modification, alteration or termination of the Loan Agreement, the Pledge Agreement or this Bond Resolution. 12. Fledge to Holder. Pursuant to the Pledge Agree- ment, the City shall pledge and assign to the Lender and its successor Holders of the Bond all interest of the City in the revenues of the Project, including all Loan Repayments to be made by the Borrower under the Loan Agreement and the interest of the City in any moneys derived from enforcement of the Mortgage. All collections of moneys by the City in any proceeding for enforce- ment of the obligations of the Borrower under the Loan Agreement or the Mortgage shall be received, held and applied by the City for the benefit of the Holder of the Bond. 13. Covenants with Holder; Enforceability. Ail provi- sions of the Bond and of this Resolution and all representations and undertakings by the City in the Loan Agreement and the Pledge Agreement are hereby declared to be covenants between the City and the Lender and its successor Holders of the Bond and shall be enforceable by the Lender or any Holder in a proceeding brought for that purpose, provided that no such covenant, representation or undertaking shall ever give rise to any pecuniary liability of the City, its employees, officers or agents or constitute a charge against its general credit or taxing powers. 14. Definitions and Interpretation. Terms not other- wise defined in'this Resolution but defined in the Loan Agreement shall have the same meanings in this Resolution and shall be interpreted herein as provided therein. Notices may be given as provided in Section 9.01 of the Loan Agreement. In case any provision of this Resolution is for any reason illegal or invalid or inoperable, such illegality or invalidity or inoperability shall not affect the remaining provisions of this Resolution, which shall be construed or enforced as if such illegal or invalid or inoperable provision were not contained herein. 15. Certifications. The Mayor, City Clerk and other officers of the city are authorized and directed to prepare and furnish to Messrs. Faegre & Benson, bond counsel, to the Borrower, to the Lender and to counsel for the Borrower and counsel for the Lender, certified copies of all proceedings and records of the City relating to the Project and the Bond, and such other affida- vits and certificates as may be required to show the facts appear- ing from the books and records in the officers' custody and control or as otherwise known to them; and ali_ such certified copies, certificates and affidavits, including any heretofore furnished, shall constitute representations of the City as to the truth of all statements contained therein. -6-