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Bo(2)nd an opinion of Counsel for the Borrower and Guarantors as prescribed <br /> Counsel; <br /> <br /> (3) the opinion of Bond Counsel as to the validity and tax exempt status <br />of the Note; <br /> <br /> (4) such other documents and opinions as Bond Counsel may reasonably <br />require for purposes of rendering its opinion required in subsection (3) above <br />or that the Lender may reasonably require for the closing. <br /> <br />2-5. ~]sgOs]tion of Mote Provide. <br /> <br /> Upon delivery of the Note, the Lender shall, on behalf of the City, <br />advance funds for payment of Project Costs upon receipt of such supporting <br />documentation as the Lender may deem reasonably necessary, including compliance <br />with the provisions of the Construction Loan Agreement. The Lender or the <br />Borrower shall provide the City with a full accounting of all funds disbursed <br />for Project Costs. <br /> <br />2-6. Rmaistrati0n of Transfer. <br /> <br /> Rhe City will cause to be kept at the office of the City Clerk a Note <br />Register in which, subject to such reasonable regulations as it may prescribe, <br />the City shall provide for the registration of transfers of ownership of the <br />Note. ~he Note shall be initially registered in the name of the Lender and <br />shall be transferable upon the Note Register by the Lender in person or by its <br />agent duly authorized in writing, upon surrender of the Note together with a <br />written instrument of transfer satisfactory to the City Clerk, duly executed by <br />the Lender or its duly authorized agent. The following form of assignment <br />shall be sufficient for said purpose. <br /> <br />For value received . _-~.T-- hereby sells, assigns and transfers unto <br />_ the within Note of the City of Ramsey, Minnesota, and <br />~e~'"h~re~-~i~rrevocably constitute and appoint ::z:~:-~ ....... ~-~_-__ attorney to <br />transfer said Note on the books of said City with full power of <br />substitution in the pr~mises. ~he undersigned certifies that the transfer <br />be made in accordance with the provisions of the Note Resolution dated <br />December 17, 1985. <br /> <br />Upon such transfer the City Clerk shall note the date of registration and the <br />name and address of the new Lender in the Note Register and in the registration <br />blank appearing on the Note. <br /> <br />2--7, <br /> <br />Mutilate. Lomt_or_D~mtrovmd Note. <br /> <br /> In case any Note issued hereunder shall beoome mutilated or be destroyed <br />or lost, the City shall, if not then prohibited by law, cause to be executed <br />and delivered, a new Note of like outstanding principal amount, number and <br /> <br /> <br />