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filing with the City evidence satisfactory to it of such <br /> destruction or loss. <br /> 5. 4. Assignment. The Note may be assigned by the holder <br /> thereof , from time to time, by endorsement thereon or by <br /> separate written instrument, provided that notice of any <br /> such assignment shall be given in writing to the City and <br /> the Borrower . <br /> 5.5 . Delivery and Use of Proceeds. Prior to delivery of <br /> the Note, the documents referred to in Section 3 .3 hereof <br /> shall be completed and executed in form and substance as <br /> approved by the City Attorney. The City shall execute and <br /> deliver the Note to the Lender , together with a duly <br /> certified copy of this Resolution, original , executed <br /> counterparts of the Loan Agreement, the Construction Loan <br /> Agreement and the Pledge Agreement, and such closing <br /> certificates, opinions and related documents as are <br /> required by Dorsey & Whitney, bond counsel , and approved <br /> by the City Attorney. <br /> Upon delivery of the Note and the above items to <br /> the Lender , the Lender shall , on behalf of the City, <br /> disburse to the Borrower the proceeds of the Note in <br /> reimbursement of Project Costs pursuant to the provisions <br /> of the Loan Agreement and the Construction Loan Agreement <br /> and the proceeds so disbursed shall be deemed to have been <br /> disbursed for the benefit of the City. The Lender or the <br /> Borrower shall provide the City with a full accounting of <br /> all funds disbursed for Project Costs. <br /> 5.6 Fixing of Interest Rate. The City , the Borrower and <br /> the holder of the Note may at any time, and from time to <br /> time, by unanimous consent, agree to change the interest <br /> rate borne by any or all of the installments of principal <br /> of the Note from the rate described in the first paragraph <br /> thereof to a fixed rate of interest, claculated as <br /> provided in the fourth paragraph of the Note, such fixed <br /> rate to be in effect for a specified period of time, after <br /> which period the parties may agree to a new fixed rate or, <br /> in the absence of such agreement, the interest rate will <br /> revert to the rate set forth in the first paragraph of the <br /> Note. The City hereby agrees that, upon the request of <br /> the Borrower and the holder of the Note, the City will <br /> agree to fix the interest rate for a certain period and <br /> the City will adopt such resolution or resolutions and <br /> execute such endorsements to the Note as are necessary so <br /> as to fix the interest rate on any or all of the <br /> installments of principal of the Note for the period <br /> agreed upon. Any such fixing of the interest rate shall <br /> -6- <br />