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. the Partnership to pay Project Costs, as defined in the Loan Agreement, then due or to reimburse the Partnership for Project Costs paid by the Partnership. 7. Execution, Delivery and Endorsement of Bond. The Bond may be in typewritten or printed form and shall be executed by the manual signatures of the Mayor and City Clerk-Administrator and the official seal of the City shall be affixed thereto and attested by the City Clerk-Administrator. When so prepared and executed, the Bond shall be delivered to the Bank upon payment of the purchase price, and upon receipt of the approval of the Project by the Minnesota Commissioner of Energy and Economic Development as tending to further the purposes and policies of the Act, of any additional 1985 bond issuance authority allocated to the Bond and of the signed legal opinion of Faegre & Benson, of Minneapolis, Minnesota, bond counsel, pursuant to the Loan Agreement. The Bond shall contain a recital that it is issued pursuant to the Act, and such recital shall be conclusive evidence of the validity and regularity of the issuance thereof. . 8. Registration Records. The City Clerk-Administrator bond registrar, shall keep a bond register in which the City shall provide for the registration of the Bond and for transfers of the Bond. The principal of and interest on the Bond shall be paid to the Bank for the account of the Holder entitled thereto in Federal or other immediately available funds. The City Clerk-Administrator is authorized and directed to deliver a certified copy of this Bond Resolution to the County Auditor of Sherburne County, together with such other information as the County Auditor may require, and to obtain the certificate of the County Auditor as to entry of the Bond on his bond register as required by the Act and by Minnesota Statutes, Section 475.63. 9. Mutilated, Lost, Stolen or Destroyed Bond. If the Bond is mutilated, lost, stolen or destroyed, the City may exe- cute and deliver to the Holder a new Bond of like amount, date, number and tenor as that mutilated, lost, stolen or destroyed; provided that, in the case of mutilation, the mutilated Bond shall first be surrendered to the City, and in the case of a lost, stolen or destroyed Bond, there shall be first furnished to the City and the Partnership evidence of such loss, theft or des- truction satisfactory to the City and the Partnership, together with indemnity satisfactory to them. The City and the Partnership may charge the Holder with their reasonable fees and expenses in replacing any mutilated, lost, stolen or destroyed Bond. . 10. Transfer of Bond; Person Treated as Owner. The Bond shall be transferable by the Owner on the bond register of the City, upon presentation of the Bond for notation of such transfer thereon at the office of the City Clerk-Admnistrator, as bond registrar, accompanied by a written instrument of transfer in form satisfactory to the City Clerk-Administrator and the City -5-