6B, Public Hearing Proposed TIF District Resolution 2010-081, -082 & -083

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(g) Mutilated, Lost, Stolen oe Destroyed Note. In case any Nate shall become mutilated or be los�, stolen, ar destroyed, �he Regisnar shall deliver a new Nate of Iike amaunt, maturity dates and tenor in exchange and substitEztion for and upon cazacellation of such mutilated Note ar in lieu af and in substitutian for such Note l�st, stolen, or destroyed, upon the paymen� of the reasanable exp8nses and charges o� the Registrar in connection therewith; and, in the case the Note is lost, stolen, or destroyed, upon filing with the Registrar af evidence satisfactory to it that such Note was lost, stol�n, or destroyed, and af the ownership thereof, and upon furnishing to the Registrar of an appropriate bond or indemni#y in form, substance, and amount satisfactory to it, in which both the City and the Registrar shall be named as obligees. The Note so surrendered to the Registrar shall be cancelled by it and evidence of such canceIlation shaI� be given to the City. If the mutilated, lost, stolen, or destroyed Note has already matured or been called for redemption in accordance with its terms, it shal� not be necessary to issue a new Note prior ta payment. 3.04. Preparation arid DeliverX, The Note shall be prepared under the direction of the County Auditor and shall be executed on behalf of the City by the signatures of its Mayor and City Administrator. In case any officer whose signature shall appear on the Note shall cease ta be such o�c�r before the delivery of the Note, such signature shall nevertheIess be ealid and sufficient far al1 purposes, tha same as ii such ofiicer had remained in office until delivery. When the Note has been so executad, it shali be cEelivered by the City Administrator to the Qwner thereof upon closing an acquisition of the DeveIopment Property in accordance with the Agreement. Section 4. Securitv Provisions. 4.01. Pled�e. (a) The City hereby pledge� t4 the payment of the principal of and interest on the Note all Available TaY Increment as defined in the Note. Availab�e Tax Increment shall be applied to paymant of the principal of and interest on the Nate in accardance with tlie terms of the Note. 4.Q2. Bond Fund. Until the date the Note is no longer outstanding and no principat thereof or interest ihereon (to the extent required to be paid pursuant to this resolution) remai�as unpaid, the City shali maintain a separate and special "Bond Fund" to be used for no purpose other ihan the pay�aae�nt o� the principal of and interest on the Note, The City ircevocably agrees to appropriate to the Bond Fund upon or before each payment date alI AvaiIable Tax Increment. Any Available TaY Inerement rernaini�g iz� the Bond �und shall be transferred to the City's account for TIF' District No. 4 upon the payment oi all principai and interest io be paid with respect to the Note. 4.03. Additional Obli ations. While the Nate is outstanding, the City shall not pledge or permit the pledge of all or any portion of the Available T� Increment to the payzx�ent of principal of or interest on any obligations of the City unless and to the extent such pledge is subordinate to fihe pledge to the Note. Section 5. CerEi�ication of Fraceedin�s. 5.01. Certification oiProceedin�s. Th� offcers of the City are hereby autliorized and directed to prepare and furnish to the Owner of the Note certified copies of aIl proceedings and records of the City, and such other af�davits, certificates, and information as rc�ay be required to show the facts relating to the legaIity and marketability �i the Note as the same appeax from the books and records under their custody and con�t�rol ox as otherwise known to them, and aIl such certified copies, certificaies, and a�davits, including any heretoiare furnishcd, shall i�e deen:zed representations of the City as to the facts reciied tiaerein. 379276r+1 AR200-10 �