Laserfiche WebLink
Section 5. Costs. The Borrower will pay the administrative fees of the City and pay, or, <br />upon demand, reimburse the City for payment of, any and all costs incurred by the City in connection <br />with the Project and the issuance of the Subordinate Note, whether or not the Subordinate Note is issued. <br />Section 6. Commitment Conditional. The adoption of this resolution does not constitute a <br />guaranty or firm commitment that the City will issue the Subordinate Note as requested by the Borrower. <br />The City retains the right in its sole discretion to withdraw from participation and accordingly not to issue <br />the Subordinate Note, or issue the Subordinate Note in an amount less than the amount referred to herein, <br />should the City at any time prior to issuance thereof determine that it is in the best interest of the City not <br />to issue the Subordinate Note, or to issue the Subordinate Note in an amount less than the amount referred <br />to in Section 2.01 hereof, or should the parties to the transaction be unable to reach agreement as to the <br />terms and conditions of any of the documents required for the transaction. <br />Section 7. Effective Date. This resolution shall be in full force and effect from and after its <br />passage. <br />Approved by the City Council of the City of Mounds View, Minnesota, this 23`d day of <br />September, 2013. <br />Mayor <br />(ATTEST) <br />City Administrator <br />(SEAL) <br />4317742 7AE NR380-1 <br />