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City of Little Canada <br />June 26, 1979 <br />Page Two <br />2. In the event that Borrower shall determine that adequate long- <br />term private financing is not reasonably available for said Project, <br />Borrower shall request the City of Little Canada to issue a Commercial <br />Development Revenue Note of the City, which may be in the form of one or <br />more notes, in a total aggregate amount of approximately $750,000, <br />provided that the following conditions are met: <br />(a) That the Project be approved by the Commissioner of <br />Securities. <br />(b) That the details of said financing and the security for <br />the same be subject to final approval by the City Council and of <br />Borrower, which approvals shall not be unreasonably withheld by the <br />City Council or Borrower. <br />3. Borrower shall pay any and all costs incurred by the City in <br />connection with the Project whether or not the Project is completed and <br />whether or not the Project is ultimately financed by a Revenue Note of <br />the City. <br />FREEWAY LAND CO. 1/2 <br />o.� <br />