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of Minneapolis on December 23, 2002, in the original aggregate principal amount of $9,580,000; (v) refinance certain outstanding taxable indebtedness of the Borrower; (vi) fund required reserves for the Notes, if any; and (vii) pay the costs of issuing the Notes (collectively, the "Project"). 1.04. The City of Minneapolis loaned the proceeds of the 2002 Assisted Living Bonds to Catholic Eldercare Community Services Corporation II, a Minnesota nonprofit corporation and an affiliate of the Borrower, to finance the acquisition, construction, and equipping of a 71 - unit assisted living facility located at 2919 Randolph Street NE (commonly known as Rivervillage East) in the City of Minneapolis (the "Assisted Living Facility"). The 2002 Assisted Living Bonds were issued in accordance with the Industrial Development Act. 1.05. The City of Minneapolis loaned the proceeds of the 2002 Nursing Home Bonds to the Borrower, to (i) refinance the acquisition, construction, and equipping of the 150 -bed skilled nursing facility located at 900 2nd Street NE (commonly known as Catholic Eldercare on Main) in the City of Minneapolis (the "Skilled Nursing Facility"); and (ii) refinance the acquisition, construction, and equipping of a 51 -unit assisted living multifamily rental housing facility located at 909 Main Street NE (commonly known as MainStreet Lodge) in the City of Minneapolis (the "Assisted Living Housing Facility"). The 2002 Nursing Home Bonds were issued in accordance with the Industrial Development Act and the Housing Act, and the City of Minneapolis adopted programs for the facilities financed in accordance with the Housing Act. 1.06. The facilities financed and refinanced with the proceeds of the Notes are referred to herein as the "Facilities." The Facilities will be owned and operated by the Borrower and individual affiliates of the Borrower. 1.07. Prior to the issuance of the Lauderdale Note, the City Council of the City must conduct a public hearing to (i) approve the issuance of the Lauderdale Note pursuant to the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended, and regulations promulgated thereunder (the "Code"); and (ii) approve the Project pursuant to Section 469.154, subdivision 4 of the Industrial Development Act. 1.08. On the date hereof, the City Council conducted a public hearing on the Project and .the issuance of the Lauderdale Note. Notice of the hearing (the "Public Notice") was published as required by Section 469.154, subdivision 4 of the Industrial Development Act, Section 462C.04, subdivision 2 of the Housing Act, and Section 147(f) of the Code. The Public Notice provided a general, functional description of the Project, as well as the maximum aggregate principal amount of the obligations to be issued for the purposes referenced therein, the identity of the initial owner, operator, or manager of the Project, and the location of the Project. The Public Notice was published in the Roseville Review, the official newspaper, and the Star Tribune, a newspaper circulating generally in the City, on August 19, 2014, a date at least fifteen (15) days before a meeting of the City Council on September 9, 2014. At the public hearing, a reasonable opportunity was provided for interested individuals to express their views, both orally and in writing, on the Project and the proposed issuance of the Lauderdale Note. Section 2. DEED Application. 2 449041v1 JAE NW475-38