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8333721v2 <br /> <br /> <br /> 4 <br /> <br />City Administrator will note the date of registration and the name and address of the new <br />registered owner in the registration blank appearing below. The City may deem and treat the <br />person in whose name the Note is last registered upon the books of the City with such <br />registration noted on the Note, as the absolute owner hereof, whether or not overdue, for the <br />purpose of receiving payment of or on the account of the Principal Balance, redemption price or <br />interest and for all other purposes, and all such payments so made to the Lender or upon his <br />order shall be valid and effective to satisfy and discharge the liability upon the Note to the extent <br />of the sum or sums so paid, and the City shall not be affected by any notice to the contrary. <br />10. All of the agreements, conditions, covenants, provisions and stipulations <br />contained in the Resolution, the Loan Agreement, and the Pledge Agreement are hereby made a <br />part of this Note to the same extent and with the same force and effect as if they were fully set <br />forth herein. <br />11. This Note and interest thereon and any service charge or premium, if any, due <br />hereunder are payable solely from the revenues and proceeds derived from the Loan Agreement <br />and any security agreements related hereto and do not constitute a debt of the City within the <br />meaning of any constitutional or statutory limitation, are not payable from or a charge upon any <br />funds other than the revenues and proceeds pledged to the payment thereof, and do not give rise <br />to a pecuniary liability of the City or any of its officers, agents or employees, and no Holder of <br />this Note shall ever have the right to compel any exercise of the taxing power of the City to pay <br />this Note or the interest thereon, or to enforce payment thereof against any property of the City, <br />and this Note does not constitute a charge, lien or encumbrance, legal or equitable, upon any <br />property of the City, and the agreement of the City to perform or cause the performance of the <br />covenants and other provisions herein referred to shall be subject at all times to the availability of <br />revenues or other funds furnished for such purpose in accordance with the Loan Agreement, <br />sufficient to pay all costs of such performance or the enforcement thereof. <br />12. If an Event of Default (as that term is defined in the Loan Agreement) shall occur, <br />then the Lender shall have the right and option, among other things, to declare the Principal <br />Balance and accrued interest thereon immediately due and payable, whereupon the same, plus <br />any premiums or service charges, shall be due and payable, but solely from sums made available <br />under the Loan Agreement and any security agreements related hereto. Failure to exercise such <br />option at any time shall not constitute a waiver of the right to exercise the same at any <br />subsequent time. <br />13. The remedies of the Lender, as provided herein and in any security agreements <br />related hereto, the Loan Agreement, and the Pledge Agreement, are not exclusive and shall be <br />cumulative and concurrent and may be pursued singly, successively or together, at the sole <br />discretion of the Lender, and may be exercised as often as occasion therefor shall occur; and the <br />failure to exercise any such right or remedy shall in no event be construed as a waiver or release <br />thereof. <br />14. The Lender shall not be deemed, by any act of omission or commission, to have <br />waived any of its rights or remedies hereunder unless such waiver is in writing and signed by the <br />Lender and, then only to the extent specifically set forth in the writing. A waiver with reference