Laserfiche WebLink
1. The City Council hereby approves the subordination of the Regulatory Agreements to the <br />Security Instrument, pursuant to the terms of the Subordination Agreements. <br />2. The Subordination Agreements presented to the City Council and on file with the City Clerk <br />is hereby in all respects approved, subject to modifications that do not alter the substance of the transaction <br />and that are approved by the Mayor and City Administrator; provided that execution of such document by <br />such officials shall be conclusive evidence of approval. <br />3. The Mayor and City, Administrator are hereby authorized to execute the Amendment to <br />Regulatory Agreement on behalf of the City and to carry out on behalf of the City the City's obligations <br />thereunder. <br />Adopted by the City Council of the City of Elk River, Minnesota this 16' day of December, <br />2024. <br />4ayo <br />ATTEST - <br />City Clerk <br />2 <br />436069v] JAE RC125-290 <br />