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• <br />• <br />• <br />2.01. The City hereby approvers the Extension and authorizes the Mayor and City <br />Administrator to execute that document on behalf of the City in substantially the form on file in City <br />Hall. <br />2.02. The City assigns to the Authority the proceeds of the grant under the Grant <br />Agreement, as extended under the Extension, and approves the loan of such proceeds to the <br />Borrower pursuant to the Note and the Mortgage. <br />2.03. The City approves the Note and Mortgage in the forms on file in City Hall and <br />authorizes the Authority President and Executive Director to execute such documents, subject to <br />modifications that do not alter the substance of the transaction and that are approved by the <br />Authority President and Executive Director, provided that execution of the documents by such <br />officials shall be conclusive evidence of approval. <br />2.04. The City further authorizes the Authority President and Executive Director to <br />execute the Master Subordination Agreement, the Master Disbursing Agreement, and any other <br />documents reasonably required to carry out the intent of this resolution, all in forms approved by <br />those officials. <br />2.05. The Mayor and City Administrator are hereby authorized to execute on behalf of the <br />City any other documents or certificates requiring execution by the City in order to carry out the <br />intent of this resolution. <br />Approved by the City Council of the City of Lino Lakes, Minnesota this 18th day of <br />December, 2006. <br />Mayo <br />ATTEST: <br />The motion for the adoption of the foregoing resolution was duly seconded <br />by. Council Member Reinert and upon vote eing taken thereon, the following <br />voted in fabor thereof: Stoltz, Reinert, O'Donnell, Carlson, Bergeson <br />The following voted against same: none <br />2 <br />