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• The policies of insurance required under clauses ( i) , ( ii) and <br /> ( iv) above shall be in form and- content satisfactory to the HRA <br /> and shall be placed with financially sound and reputable <br /> insurers licensed to transact business in the State of <br /> Minnesota . The .pol.icies shall contain an agreement of the <br /> insurer to give not less than 30 days ' advance written notice <br /> to the HRA in the event of cancellation of such policy or <br /> change affecting the coverage . <br /> (b) The provisions herein with respect to insurance <br /> of the Minimum Improvements shall terminate with respect to any <br /> unit included in the Minimum Improvements at such time as the <br /> Redeveloper has received a Certificate of Completion under <br /> Section 4 . 4 of the Agreement with respect to such unit and such <br /> unit is no longer owned by the Redeveloper . <br /> ARTICLE 6 <br /> Issuance of Note and <br /> Payment of Taxes <br /> Section 6. 1 Issuance of Note and Payment of Proceeds <br /> of Note to Redeveloper . The Redeveloper has arranged for the <br /> sale of the Note to , and acknowledges <br /> that the HRA and City have no responsibility with respect to <br /> • the sale of the Note, other than the application of the <br /> proceeds thereof received from such -purchaser . Upon completion <br /> of the Soil Corrections and delivery to the HRA of the <br /> statement required under Section 4 . 3 hereof as to the costs of <br /> the Soil Corrections , the HRA will deliver to the Redeveloper <br /> any proceeds received from the HRA from sale of the Note up to <br /> the costs of the Soil Correction as shown in the statement <br /> required under Section 4 . 3 hereof . The Redeveloper <br /> acknowledges that it has reviewed the form of the Note and Note <br /> Resolution and approves the terms thereof . The Redeveloper <br /> further acknowledges that the Note is a limited obligation of <br /> the HRA, and shall not be payable from any funds of the HRA <br /> other than the tax increment revenue derived from the Tax <br /> Increment District specifically pledged to the payment thereof <br /> under the Note Resolution. <br /> Section 6 . 2 _Taxes . Redeveloper shall pay when due <br /> all real estate taxes and installments of special assessments <br /> payable on the Redevelopment Property subsequent to the date <br /> title to the Redevelopment Property is conveyed to Redeveloper <br /> and prior to the date of sale of the Minimum Improvements , or <br /> portions thereof, to purchasers . <br /> • <br /> -11- <br />