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Section 1.2 Rales of Interpretation. (1) This Agreement shall be 'interpreted in accordancle with and governed by the laws of the State of Minnesota. (2) The words "herein" and hereof"' and Nvords of similar import, without reference to any particular section or subdivision, refer to this Agreement as a wholle rather than to any particular section or subdivision hereof. (3 ) References herein to any particular section or subdivision hereof are to, the section or subdivision of this 'instrument as originally executed. (4) Where the Borrower is permitted or required to do or accomplish any act or thing hereunder, the City or the Lender niay cause the same to be done or accomplished with the same .1,orce and effect as if done or accomplished by the Borrower. (5) The Table of Contents and titles of articles and sections herein are for convenience only and are not a part of this Agreement. (6) Unless the context hereof clearly requires otherwise, the singular shall include the plural and vice versa and the mascul-Ine shall -include the fern-In-Inic and vice versa. (7) Articles, sections, subsections and clauses, mentioned by nuniber only are those so numbered which are contained in this Agreement. (8) References to the Note as "tax exempt" or to the "tax exempt status, of the Note" are to the exclusion of interest on the Note from gross income pursuant, to, Section 103(a) of the Code. ARTICLE 2 REPRESENTATIONS Section 2.1 Repre s gntations the Cit y. the City makes, the following representat -ions as the basis for its covenants herein: (1) the City is a body corporate and politic duly organized under the Constitution and the laws of the State of Minnesota; and is authorized to issue the Note to finance the Project Costs pursuant to the Act; (2) in authorizing the Project the Cityls purpose is, and in its Judgment the effect thereof will be, to promote the public welfare by: the attraction, encouragement, and, development of economically sound industry and commerce so as to pirevent, so far as, posisible, the emergence of blighted and marginal lands and areas of chronic unemployment and to aid in the redevelopment of areas of existing blight, marginal land and persistent, unemployment,, the development of industry to use the available resources of'the community, 'in order to retain the benefit of the community's existing investment in educational and public service facilities, .2144817v] 4