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therein is in the best interest of the City and its residents. <br />Now, therefore, be it resolved by the City Council (the "Council") of the City of Elk River, <br />Minnesota as follows: <br />1. The Council hereby approves the Amendment in substantially the form presented <br />to the Council, together with the Amended Note and any related documents necessary in <br />connection therewith (collectively, the "Amendment Documents"), and hereby authorizes the <br />Mayor and City Clerk to execute any such Amendment Documents to which the City is a parry, <br />on behalf of the City, and to carry out, on behalf of the City, the obligations of the City <br />thereunder when all conditions precedent thereto have been satisfied. <br />2. The approval hereby given to the Amendment 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 City and by the officers authorized herein or by the City to <br />execute said documents prior to their execution; and said officers are hereby authorized to <br />approve said changes on behalf of the City. The execution of any instrument by the appropriate <br />officers of the City shall be conclusive evidence of the approval of such document in accordance <br />with the terms hereof. In the event of absence or disability of the officers, any of the documents <br />authorized to be executed by this resolution may be executed without further act or authorization <br />of the Council by any duly designated acting official, or by such other officer or officers of the <br />Council as, in the opinion of the City Attorney, may act in their behalf. <br />3. Prior to delivery of the Amended Note, the City shall require the Developer return <br />the Note and execute the Acknowledgement Regarding TIF Note attached to the Amended Note. <br />4. Upon execution and delivery of the Amendment Documents, the officers and <br />employees of the City are hereby authorized and directed to take or cause to be taken such <br />actions as may be necessary on behalf of the City to implement the Amendment Documents, <br />when all conditions precedent thereto have been satisfied. <br />Approved by the City Council of the City of Elk River, Minnesota this 15th day of July, <br />2024. <br />ATTEST: <br />City Clerk <br />EL 185\61 \949054.v2 <br />