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<br />. ' <br /> <br />. <br /> <br />modification, alteration or termination of the Loan Agreement, <br />the Loan Agreement Assignment or this Bond Resolution. <br /> <br />12. Pledqe to Holder. Pursuant to the Loan Agreement <br />Assignment, the City shall pledge and assign to the Lender and <br />its successor Holders of the Bond all interest of the City in the <br />revenues of the Project, including all Loan Repayments to be made <br />by the Borrower under the Loan Agreement. All collections of <br />moneys by the City in any proceeding for enforcement of the <br />obligations of the Borrower under the Loan Agreement or the <br />Mortgage shall (except to the extent provided to the contrary in <br />the Loan Agreement Assignment) be received, held and applied for <br />the benefit of the Holder of the Bond. <br /> <br />13. Covenants with Holders; Enforceabilitv. All <br />provisions of the Bond and of this Resolution and all <br />representations and undertakings by the City in the Loan <br />Agreement and the Loan Agreement Assignment are hereby declared <br />to be covenants between the City and the Lender and its successor <br />Holders of the Bond and shall be enforceable by the Lender or any <br />Holder in a proceeding brought for that purpose. <br /> <br />. <br /> <br />l4. Definitions and Interpretation. Terms not <br />otherwise defined in this Resolution but defined in the Loan <br />Agreement shall have the same meanings in this Resolution and <br />shall be interpreted herein as provided therein. Notices may be <br />given as provided in Section 9.01 of the Loan Agreement. In case <br />any provision of this Resolution is for any reason illegal or <br />invalid or inoperable, such illegality or invalidity or <br />inoperability shall not affect the remaining provisions of this <br />Resolution, which shall be construed or enforced as if such <br />illegal or invalid or inoperable provision were not contained <br />herein. <br /> <br />15. Certifications. The Mayor,City <br />Clerk/Administrator and other officers of the City are authorized <br />and directed to prepare and furnish to Faegre & Benson, bond <br />counsel, to the Borrower, to the Lender and to counsel for the <br />Lender, certified copies of all proceedings and records of the <br />City relating to the Project and the Bond, and such other <br />affidavits and certificates as may be required to show the facts <br />appearing from the books and records in the officers' custody and <br />control or as otherwise known to them; and all such certified <br />copies, certificates and affidavits, including any heretofore <br />furnished, shall constitute representations of the City as to the <br />truth of all statements contained therein. <br /> <br />16. Bank-Qualified Bond. The Bond is hereby <br />designated as a "qualified tax-exempt obligation" within the <br />meaning of Section 265(b) (3) of the Internal Revenue Code of <br />1986. The Bond is to be issued on behalf of an organization <br />described in Section 501 (c) (3) of the Code and is to be issued as <br /> <br />. <br /> <br />-6- <br />