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419695v1 SJB LN140 -109 2 <br /> <br /> Section 2. Authority Approval; Further Proceedings . <br /> <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 ap proval. <br /> <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 r equired to effectuate the <br />transaction described in those documents. <br /> <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 /> <br /> <br /> <br /> Approved by the Board of Di rectors of the Lino Lakes Economic Development Authority, <br />this 11th day of March, 2013. <br /> <br /> <br /> <br /> <br /> <br /> <br /> President <br /> <br /> <br />ATTEST: <br /> <br /> <br /> <br /> <br />Secretary <br />