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r' ( � such. other documents and .opirtio ns as Bond Cconnsel .may rgapS )rlil}lly reqth uire for' of rendcring its opinion required in..subsectioit (1) above or that e Lender inlay reasonably require for die closing. 2.5 Disp !js ticin of Proceeds of -'the Now. .Upon delivery of the%Noti� to Lender, the Lender shall: on behalf .of the City, advance the proceeds. of the .Note to the Btorr(.Ywer or -at its .direction to refund a portion of the Prior Bonds in accordwice v6tli the terilis of the L oari Agreement. 2.6 Reuistration of Transfer. The City will. cause to be kept at the office of the Mayer and Administrator -Clerk. a Note Register in which, subject to such reasonable regulations as it may prescribe, the City shall proN Ide for the registration of transfers. of ownership of the Note. 1'he Note shall be Initially registered in the name of .the Lender and shall be transferable upon the (dote Register by the Lender in person or by its agent duly authorized in writing, upon surrender of the Note togdther with a written instrument of transfer satisfactory to the zblayor and Administrator=Clerk, dilly executed by the Lender or its duly authorized agent. The. following Toren of assignment shalf be silfficient for said purpose. For value reWiwd hereby sells, assigns and- transfers unto. the -wi.thin Note of the City of Crern Lake.. Minnesota, and does hereby irrevocahly constitutc. and appoint _ - - - attorney to transfer said Note on the books of -said City Nvith 1 111 pov,er of substitution in+the' premises. The undersigned certifies that the transfer is. made in accordance with the- provisions of Section 2.9 of the Rgsolt:ttion authorizing the issuance of the. Note. 17artc& Registered Owner Upon such transfer the Mayor and Achilinistrator-Clerk shall note .,the date of registration and the name and address of the new Lender in the applicable Note Register and in the registration blank appearing on the Note. 2.7 Mutilated. Lost or I.)estrotied Note. In case the Note issued hereunder shall become mutilated or be destroyed. or lost, the City shrill. if not then prohibited by law; cause to be -executed and delivered, a new Note of like outstanding.principal arrtount, number and. tenor 1.11 exchange and substitution for and upon cancellation ol' such mutilated Note, or in lieu of and in substitution tiir such Note destlx)yed or lust, upon the Lender's paying the reasonable. expenses and ,chard -es of the City in connection therewith; and in the. case of a Nine destroyed or lost, the: filing with the City of eviderice satisfactory.to the -City with indemnity satisfact.ory to il. if the. ihutilatcd, destroyed or lost Note has already matured or been called for redem-ptiori in - accordance with its terms it shaft not be necessary to issue a new Note prior to payment. 2.8 Ownei�sl_ ii!) o l. Note. 'The City may ileum and treat the Person in whose [lame. the Dote is last registered in the Note Register and. by notation out tho Note whether or -not such Nt4e. shall be overdue,..us the al? Mute owner cal' such Note for the: purpose of receiving payment of or' 6 16291 NI- JS11 MA355-7