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<br />. <br /> <br />NOTE RESOLUTION j1&. cf'.Jj of"O <br /> <br />BE IT RESOLVED by the City Council of the City of <br />Arden Hills, Minnesota, as follows: <br /> <br />ARTICLE ONE <br /> <br />. <br /> <br />DEFINITIONS, LEGAL AUTHORIZATION AND FINDINGS <br /> <br />1-1. Definitions. <br /> <br />The terms used herein, unless the context hereof <br />shall require otherwise shall have the following meanings, and <br />any other terms defined in the Loan Agreement shall have the <br />same meanings when used herein as assigned to them in the Loan <br />Agreement unless the context or use thereof indicates another <br />or different meaning or intent. <br /> <br />Act: the Minnesota Municipal Industrial Development Act, <br />Minnesota Statutes, Chapter 474, as amended: <br /> <br />Assignment of Leases and Rents: the agreement to.be <br />executed by the Borrower assigning all the leases, rents, <br />issues and profits derived from the Project to the Lender to <br />secure the repayment of the Note and interest thereon: <br /> <br />Bond Counsel: the firm of Briggs and Morgan, Professional <br />Association, of St. Paul and Minneapolis, Minnesota, and any <br />opinion of Bond Counsel shall be a written opinion signed by <br />such Counsel: <br /> <br />Borrower: Pet Care Partnership, a Minnesota general <br />partnership, its successors, assigns, and any surviving, <br />resulting or transferee business entity which may assume its <br />obligations under the Loan Agreement: <br /> <br />Ci~y: the City of Arden Hills, Minnesota, its successors <br />and ass~gns: <br /> <br />Construction Loan Agreement: the agreement to be executed <br />by the City, the Borrower and the Lender, relating to the <br />disbursement and payment of Project Costs out of the <br />Construction Fund for the acquisition of the Land and the <br />construction and installation of the Improvements: <br /> <br />. <br />