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Section 2. Authority Approval., Further Proceedings. <br />2.01. The Purchase Agreement and Subordination Agreement are each hereby in all <br />respects approved, subject to modifications that do not alter the substance of the transaction and that <br />are approved by the President and Executive Director, provided that execution of the documents by <br />such officials shall be conclusive evidence of approval. <br />2.02. The President and Executive Director are hereby authorized to execute, on behalf of <br />the Authority, the Purchase Agreement, the Subordination Agreement, and any documents <br />referenced therein requiring execution by the Authority or otherwise required to effectuate the <br />transaction described in those documents. <br />2.03. Authority staff and consultants are authorized and directed to take all actions needed <br />to carry out the transactions describe din this Resolution. <br />Approved by the Board of Directors of the Lino Lakes Economic Development Authority, <br />this l l th day of March, 2013. <br />ATTEST: <br />419695v1 SJB LNI40-109 <br />2 <br />President <br />