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135259170v4 3 (d) Allonge; and (e) Assignment of Mortgage. The foregoing documents are hereafter referred to as the “Bond Documents.” 5. It is hereby found, determined, and declared that: (a) the issuance and sale of the Note, the execution and delivery by the Governmental Lender of the Bond Documents and the performance of all covenants and agreements of the Governmental Lender contained in the Bond Documents and of all other acts and things required under the constitution and laws of the State of Minnesota to make the Bond Documents and the Note valid and binding obligations of the Governmental Lender in accordance with their terms, are authorized by the Act; (b) it is desirable that the Note be issued by the Governmental Lender upon the terms set forth in the Funding Loan Agreement; (c) the basic payments under the Project Loan Agreement are fixed to produce revenue sufficient to provide for the prompt payment of principal of, premium, if any, and interest on the Note issued under the Funding Loan Agreement when due, and the Funding Loan Agreement, Mortgage, Assignment of Leases, Borrower Note and Project Loan Agreement also provide that the Borrower is required to pay all expenses of the operation and maintenance of the Project, including, but without limitation, adequate insurance thereon and insurance against all liability for injury to persons or property arising from the operation thereof, and all taxes and special assessments levied upon or with respect to the Project premises and payable during the term of the Funding Loan Agreement and Project Loan Agreement; (d) under the provisions of the Act and as provided in the Funding Loan Agreement and Project Loan Agreement, the Note is not to be payable from or charged upon any funds other than the revenue pledged to the payment thereof; the Governmental Lender is not subject to any liability thereon; no holder of the Note shall ever have the right to compel any exercise by the Governmental Lender of its taxing powers to pay the Note or the interest or premiums thereon, or to enforce payment thereof against any property of the Governmental Lender except the interests of the Governmental Lender in the Project Loan Agreement which have been assigned to the Fiscal Agent under the Funding Loan Agreement; the Note shall not constitute a charge, lien, or encumbrance, legal or equitable upon any property of the Governmental Lender except the interests of the Governmental Lender in the Project Loan Agreement which have been assigned to the Fiscal Agent under the Funding Loan Agreement; the Note shall recite that the Note is issued without moral obligation on the part of the state or its political subdivisions, and that the Note, including interest thereon, is payable solely from the revenues pledged to the payment thereof; and, the Note shall not constitute a debt of the Governmental Lender within the meaning of any constitutional or statutory limitation. 6. The forms of the Bond Documents and exhibits thereto are approved substantially in the form submitted. The Bond Documents, in substantially the forms submitted, are directed to be executed in the name on behalf of the Governmental Lender by the Mayor and City Administrator. Any other documents and certificates necessary to the transaction described