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6. _Approval of Terms „and Sale of Note. The City shall proceed forthwith -to issue its Note, in an authorized principal. amount not to exceed $980,000; consisting of a single; fully registered note. -In the form attached to the. Loan Agreement.as Exhibit A, rrtaturirig, bearing interest, payable iri. the installments and otherwise containing the. provisions set forth in such fozm, whidh terms and provisions are hereby approved and incorporated in this Resolution -and made a part hereof. As further provided herein; :the Note shall be issued and delivered :to the: Lender as provided in the Loan Agreement (the purchase price being payable in advances not exceeding 160% oftthe authorized principal amount.ofthe Note). Principal .of and interest on. the Note shall be payable at the office of the. registered owner thereof -as it appears on the registration records maintainedby the City Clerk in lawful. money -ofthe United States. The proposal of the. Lender to purchase the Note -as provided'in the, Loan Agreement is hereby found and determined. to be reasonable. -and is hereby accepted. 7: Execution, Delivery and Endorsement of Note. The Note may, be in typewritten or:printed form and shall be executed by the manual signatures. of the Mayor and City Clerk. When so prepared and executed; the Note phall be. delivered to the Lender upon receipt of the. -signed leggl.opinionbf`Faegre & Bensbn LLP; bond counsel, pursuant to the Loan Agreement. The.:Nbte shall contdin a recital that the Ndje is issued pursuant to the Act, and such recital shall, to the extent permitted by law;. bd conelusive evidence of the validity and regularity of the issuance thereof. 8. Registration Records. *The -City Cleric, as registrar, shall keep registration records which -.shall set forth the: name, and registered:address of theregistered owner of the Note- from *:time.to time. Transfer of theNote shall be made only as provided in SeCtibn 10. 6elow. 9, Mutilated, Lost, Stolen or Destroyed Bond. If the Note.is-matilated, lost; stolen or'destroyed,:the City may execute and deliver to the. registered owner a new Note .of Trice amount, date, number and tenor as that mutilated, lost, stolen or destroyed. provided that,. in the. ca§e of butilatiori; the.mutilated Note shall first be surrendered to-the..City, and in the case .ofa lost,, stolen or destroyed Note, there. -shall be first furnished tv.the. City and the Borrower evidence of such loss; theft or destruction satisfactory to the City.an4 the.. Borrower,. together with indemnity satisfactory to them:- The City and Borrower may charge the. owner wifih. their reasonable fees and expenses in replacing any mutilated, lost; stolen qr destroyed Note.. 10. .Transfer of Note: Person Treated as weer. The Note shall be transferable by the owner only on the registration records of the City , upon presentation of the Note- f'or notation of such transfer thereon at. the office of the City- Clerk, as Note registrar, accompanied by a, Written instrument -of transfer in form .satisfactory to the City Clerk duly executed by the registered owner omits attorney duly authorized in writing: The.Note shall 3