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Section 3. Costs. The Borrower will pay and upon demand, reimburse the City for payment <br />of, any and all costs incurred by the City in connection with the refinancing of the City's outstanding <br />Subordinate Note and the issuance of the Bonds, whether or not the Bonds are issued. <br />Section 4. Effective Date. This resolution shall be in full force and effect from and after its <br />passage. <br />Adopted by the City Council of the City of Mounds View, Minnesota, this 26'" day of March, 2018. <br />Carol A. Mueller, Mayor <br />ATTEST: <br />Nyle Zikmund, City Administrator <br />(Seal) <br />518815v2 JAE FRI 10-14 <br />