Resolution - #81-188 - 11/10/1981

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5.03. Mutilatedr Lost and Destroyed Note. In case the Note shall become mutilate~ or be lost or destroyed, the Issuer shall cause to be executed and delivered a new Note of like outstanding principal amount and tenor in exchange and substitution for and upon cancellation of the mutilated Note or in lieu of and in substitution for such Note lost or destroyed, upon the Holder's paying the reasonable expenses and charges of the Issuer in connection therewith and, in case the Note is destroyed or lost, filing with the Issuer evidence satisfactory to it of such destruction or loss. 5.04. Assignment. The Note may be assigned by the Holder from 6~me to time, by endorsement thereon or-by sepa- rate written instrument; provided that notice 6f any such assignment shall be given in writing to the Issuer and the Borrower. At the request of the Holder, the Note shall be registered on the books of the Issuer, subject to the condi- tions set forth in the form of the Note attached hereto as Exhibit A.' 5.05. Delivery and Use of Proceeds. Prior to delivery of the Note, the documents referred to in Section 3.03 hereof shall be completed and executed in form and substance as approved by the City Attorney, and an original, executed counterpart of each such document shall be delivered to the Lender, together with the Organizational Documents. The Issuer shall thereupon deliver to the Lender the Note in the principal amount of $380,000, together with a copy, duly certified by the City Administrator/Clerk, of this Resolu- tion and such closing certificates as are required by Bond Counsel. Upon delivery of the Note and the above items to the Lender, the Lender shall, on behalf of the Issuer, disburse the proceeds of the Note to the Borrower in reimbursement of or to its order for payment of Construction Costs and Loan and Carrying Charges pursuant to the provisions of the Agreement. The Lender or the Borrower shall provide the Issuer with a full accounting of all funds disbursed for Construction Costs and Loan and Carrying Charges. Section 6. Limitations of the Issuer's Obliqations. 6.01 Notwithstanding anything contained in the Note, the Agreement or the Pledge Agreement or any other documents referred to in Section 3.03 hereof, the Note, premium, if any, and interest thereon shall not constitute an indebted- ness of the Issuer within the meaning of any constitutional or statutory limitation and shall not constitute or give rise to a. pecuniary liability of the Issuer or a charge against its general credit or taxing powers and shall not constitute a charge, lien or encumbrance, legal or equit- able, upon any property of the Issuer other than its inter.- - 8 -