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<br />14. The Holder shall not be deemed, by any act of <br />omission or commission, to have waived any of its rights or <br />remedies hereunder unless such waiver is in writing and signed <br />by the Holder, and then only to the extent specifically set <br />forth in the writing. A waiver with reference to one event <br />shall not be construed as continuing or as a bar to or waiver <br />of any right or remedy as to a subsequent event. <br /> <br />15. This Note has been issued without registration <br />under state or federal or other securities laws, pursuant to an <br />exemption for such issuance: and accordingly the Note may not <br />be assigned or transferred in whole or part, nor may a <br />participation interest in the Note be given pursuant to any <br />participation agreement, except in accordance with an <br />applicable exemption from such registration requirements and <br />subject to Section 7.12 of the Loan Agreement. <br /> <br />16. It is recognized that the obligations of the <br />Borrower are non-recourse obligations to the extent provided in <br />Section 6.07 of the Loan Agreement. <br /> <br />IT IS HEREBY CERTIFIED AND RECITED that all condi- <br />tions, acts and things required to exist, happen and be perform- <br />ed precedent to or in the issuance of this Note do exist, have <br />happened and have been performed in regular and due form as <br />required by law. <br /> <br />IN WITNESS WHEREOF, the City has caused this Note to <br />be duly executed in its name by the manual signatures of the <br />Mayor and City Manager, and has caused the corporate seal to be <br />affixed hereto, and has caused this Note to be dated December <br />, 1984. <br /> <br />CITY OF ROSEVILLE, MINNESOTA <br /> <br />Mayor <br /> <br />ATTEST: <br /> <br />City Manager <br /> <br />15 <br />