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<br />NOTE RESOLUTION <br /> <br />RESOLVED by the City Council of the City of <br />Roseville, as follows: <br /> <br />ARTICLE ONE <br /> <br />DEFINITIONS, LEGAL AUTHORIZATION AND FINDINGS <br /> <br />1-1. Definitions. <br /> <br />The terms used herein, unless the context hereof <br />shall require otherwise shall have the following meanings, and <br />any other terms defined in the Loan Agreement shall have the <br />same meanings when used herein as assigned to them in the Loan <br />Agreement unless the context or use thereof indicates another <br />or different meaning.or intent. <br /> <br />Act: the Minnesota Municipal Industrial Development Act, <br />MinneSOta Statutes, Chapter 474, as amended7 <br /> <br />Assignment of Rents and Leases: the agreement to be <br />executed by the Borrower assigning all the rents, issues and <br />profits derived from the Project to the Lender to secure the <br />repaYment of the Notes and interest thereon7 <br /> <br />Bond Counsel: the firm of Briggs and Morgan, Professional <br />Association, of St. Paul and Minneapolis, Minnesota, or any <br />other firm of nationally recognized bond counsel and any <br />opinion of Bond Counsel shall be a written opinion signed by <br />such Counsel7 <br /> <br />Borrower: Heco, Inc., a Minnesota corporation, its <br />successors, assigns, and any surviving, resulting or transferee <br />business entity which may assume its obligations under the Loan <br />Agreement7 <br /> <br />City: the City of Roseville, Minnesota, its successors <br />and assigns7 <br /> <br />Construction Fund: the fund established by the City <br />pursuant to this Resolution and into the Proceeds Account of <br />the Construction Fund the proceeds of the Notes will be <br />deposited7 <br />