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SECT-ION.2. THE NOTE 2A Authorized Amount -and Form of Note. The Note is hereby approved and shall be issued pursuant .to this Resolution in,substantially i ie form submitted to the Council with such. appzopriate variations. omissions and insertions as are. necessary and.:appropridte and are permittedor required by this Resolution, -and in.aecordance. with the further provisions hereof; and the total aggregate principal. amount of the Note that may be ..outstanding hereunder is expressly limited to $10,000,000.1 unless a duplicate Note is issued pursuant to Section 2.7. The Note. shall bear interest at a variable rate as, set forth therein. 2.2 The Note. The Note shall be dated :as of the 'date of deliver + to the. -Lender, shall be payable at. the times and in the manner, shall bearinterest at the rate, and shall *be, subject- to such other term and conditions as are: set forth therein. 2.3 Execution. The. Note shall be executed on.behalf of the City by the signatures of its Mayor: and AdminaistratorClerk arid: shall be sealed with the seal of the City; provided that the seal may be intentionally omined as. provided by law. Tn case any :officer whose signature shall appear on the Note shall cease to be such officer before theAelivery. of the Note,, such signature shall. nevertheless be valid and :sufficient for all purposes, the -same as if such officer had remained in office, until delivery. In the event of the absence ox disability of the Mayor and Administrator -Clerk such officers of the City as; in the opinion of the.City -Attorney, may act m their behalf, shall without further act or authorization of then Couneil execute and deliver the. Note.. 2.4 Delivery of Initial Note. Before delivery of the Note there shall be filed with the Lender (except to the extent waived by the Lendor) the following items. (1) an executed copy of each' of the- folldWing documents: (a) the Loan Agreement; (b). the Pledge Agreement; (c) the Joint. Powers Agreement; {d) the Amended. and Restated Mortgage;. (2) an opinion of Counsel for the .Borrower as prescribed by.the..Lender slid Bond. -Counsel; *(3) -the opinioh of Bond Cotulsel as to the validity and tax .exempt status. of the. Note; (4) a $01(c)(3) determination letter from. the Internal Revenue Service. evidencing that the Borrower is exempt:.from income taxation under .Section.501(c)(3 of the Cole; 5 442.411vI !SB MA355-7