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75562700v2 <br /> <br />2 <br /> <br />WHEREAS, the Borrower and the Lender have agreed to replace the Existing Index with <br />the 10-Year Federal Home Loan Bank Rate (the “Replacement Index”), as published by The <br />Federal Home Loan Bank of Des Moines as of the date of determination (the “Modification”); and <br />WHEREAS, the Lender has advised the City that the Replacement Index is a rate <br />comparable to the Existing Index; <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />LITTLE CANADA, MINNESOTA, as follows: <br />1. The City approves the Modification and authorizes the execution of an allonge (the <br />"Allonge") to the Amended Note, a substantially final form of which has been provided to the City. <br />2. The Allonge is hereby in all respects approved, subject to modifications that do not <br />alter the substance of the transaction and that are approved by bond counsel to the City; provided <br />that delivery of the Allonge shall be conclusive evidence of approval. <br />3. The Mayor and the City Administrator are hereby authorized to execute and deliver <br />the Allonge and any other related documents on behalf of the City. <br />4. This Resolution shall be in full force and effect from and after its passage. <br />Adopted by the City Council of the City of Little Canada, Minnesota, this 14th day of <br />December, 2022. <br /> <br />By: ___________________________________ <br />Its: Mayor <br /> <br />ATTEST: <br /> <br />By: <br />Its: City Administrator