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Resolution 85- 83 <br />Page 3 <br /> <br /> Section 1. The Lending Institution Rules and Regulations <br />and the Mortgagor Rules and Regulations, in the forms presented <br />to and considered at this meeting are hereby adopted and <br />approved. <br /> <br /> Section 2. The form, terms and provisions of the In- <br />denture are hereby approved, and the City Manager is <br />authorized and empowered to execute and deliver, on behalf <br />of the City, and the City Clerk is authorized to attest as <br />to such execution of, the Indenture in substantially the <br />form presented to and considered at this meeting of the City <br />Council, with such changes therein, however, as may be <br />approved by the City Manager executing the same, such ap- <br />proval to be conclusively evidenced by his execution thereof. <br /> <br /> Section 3. The form, terms and provisions of the Agree- <br />ment and the Developer Agreement are hereby approved, and <br />the City Manager is authorized and empowered to execute and <br />deliver, on behalf of the City, the Agreement and the De- <br />veloper Agreement in substantially the form of each such <br />agreement presented to and considered at this meeting of the <br />City Council, with such changes therein, however, as may be <br />approved by the City Manager executing the same, such <br />approval to be conclusively evidenced by his execution thereof. <br /> <br /> Section 4. The forms, terms and provisions of the <br />Developer Agreement-City are hereby approved, and the City <br />Manager is authorized and empowered to execute and deliver, <br />on behalf of the City, the Developer Agreement-City in <br />substantially the form presented to and considered at this <br />meeting of the City Council, with such changes therein, <br />however as may be approved by the City Manager executing the <br />same, such approval to be conclusively evidenced by his <br />execution thereof. Pursuant to the terms of the Developer <br />Agreement-City, the reservation by the City of a Developer <br />Allocation (as said term is defined in the Developer <br />Agreement-City) in the amount of $3,970,000, and the payment <br />by the City of a cash fee to the Trustee, constituting the <br />City's Developer Commitment Fee (as said term is defined in <br />the Developer Agreement-City), in an amount not greater than <br />six percent (6%) of the City's Developer Allocation, are <br />hereby approved. <br /> <br /> <br />