11-12-1980 Council Agenda - Laserfiche WebLink

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12. As provided in the Resolution and subject to certain limitations set forth therein, this Note is transferable upon the books of the City at the office of the City Clerk, by the holder in person or by his agent duly authorized in writing, at the holder's expense, upon surrender hereof together with a written instrument of transfer satisfactory to the City Attorney, duly executed by the holder or his duly authorized agent. Upon such transfer the City Clerk will note the date of registration and the name and address of the new registered holder in the registration blank appearing below. The City may deem and treat the person in whose name the Note is last registered upon the books of the City with such registration noted on the Note, as the absolute owner hereof, whether or not overdue, for the purpose of receiving payment of or on the account, for the purpose of receiving payment of or on the account of the Principal Balance, prepayment price or interest and for all other purposes, and all such payments so made to the Lender or upon his order shall be valid and effective to satisfy and discharge the liability upon the Note to the extent of the sum or sums so paid, and the City shall not be affected by any notice to the contrary. 13. All of the agreements, conditions, covenants, provisions and stipulations contained in the Resolution, the Mortgage, the Assignment of Leases and Rents, the Buy -Sell Agreement, the Loan Agreement and the Construction Loan Agreement are hereby made a part of this Note to the same extent and with the same force and effect as if they were fully set forth herein. 14. This Note and interest thereon and any premium due hereunder are payable solely from the revenues and proceeds derived from the Loan Agreement, the Mortgage and the Assignment of Leases and Rents, and do not constitute a debt of the City within the meaning of any constitutional or statutory limitation, are not payable from or a charge upon any funds other than the revenues and proceeds pledged to the payment thereof, and do not give rise to a pecuniary liability of the City or, to the extent permitted by law, of any of its officers, agents or employees, and no holder of this Note shall ever have the right to compel any exercise of the taxing power of the City to pay this Note or the interest thereon, or to enforce payment thereof against any property of the City, and this Note does not constitute a charge, lien or encumbrance, legal or equitable, upon any property of the City, and the agreement of the City to perform or cause the performance of 0 fl