79-012 RES - Laserfiche WebLink

Home Browse Search

the Project suitable and designed for use as an office and • warehouse facility, and authorized the preparation of such documents as may be appropriate to the Project. 3. 03. Approval of Documents. Pursuant to the above, copies of the following documents, all of which are now or shall be placed on file in the office of the Clerk, have been prepared and presented to this Council : (a) Construction Loan Agreement; (b) Agreement; (c) Assignment of Loan Agreement ; (d) Mortgage; (e) Assignment of Rents and Leases; and (f) Guaranty Agreement. The forms of the documents listed in (a) through (f) above are approved, with such variations, insertions and additions as are deemed appropriate by the parties and approved by the City Attorney. • Section 4 . Authorization. Upon completion of the Construction Loan Agreement, the Agreement, and the Loan Agreement Assignment, approved in Section 3. 03 hereof, and the execution thereof by Plaisted and the Lender, as the case may be , the Mayor and City Clerk shall execute the same, the Note (in substantially the form set forth in Section 5. 01 hereof) , and such other certifications, documents or instruments as bond counsel or counsel for the Lender shall require, on behalf of the City, subject to the approval of the City Attorney. All certifications , recitals and representations therein shall constitute the certifications, recitals and representations of the City. Execution of any instrument or document by one or more appropriate officers of the City shall constitute and shall be deemed the conclusive evidence of the approval and authorization by the City and the Council of the instrument or documents so executed. Section 5. The Note. 5. 01. Form and Authorized Amount. The Note shall be issued substantially in the form hereinafter set forth, with such appropriate variations , omissions and insertions as are permitted or required by this • -5-