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date of the Loan on January 13, 2018 and also approves any amendments to the Loan <br />Documents necessary in connection therewith and the President and Executive Director are <br />hereby authorized and directed to execute, on behalf of the EDA, any such amendments to the <br />Loan Documents to which the EDA is a party and to carry out, on behalf of the EDA, the <br />EDA's obligations thereunder. <br />2. The approval hereby given to the amendments to the Loan Documents includes approval of <br />such additional details therein as may be necessary and appropriate and such modifications <br />thereof, deletions therefrom and additions thereto as may be necessary and appropriate and <br />approved by legal counsel to the EDA and by the President and Executive Director prior to <br />executing said documents; and said officers are hereby authorized to approve said changes on <br />behalf of the EDA. The execution of any instrument by the President and Executive Director <br />shall be conclusive evidence of the approval of such document in accordance with the terms <br />hereof. In the event of absence or disability of said officers, any of the documents authorized <br />by this Resolution to be executed may be executed without further act or authorization of the <br />Board by any duly designated acting official, or by such other officer or officers of the Board as, <br />in the opinion of the City Attorney, may act in their behalf. <br />Approved by the Board of Commissioners of the Economic Development Authority of the City of Elk <br />River this 15th day of May, 2017. <br />President <br />ATTEST: <br />Executive Director <br />499539v2 JSB ELI 85-34 <br />