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E. The Lender has offered to reduce the interest rate to produce debt service <br />savings over the remaining term of the Loan. In order to achieve these savings, the <br />Lender and Memory Experts have proposed a First Amendment to Loan Agreement <br />(the "Amendment'), which would lower the interest rate. The proposed form of the <br />Amendment is on file with the Secretary of the Authority (the "Secretary"). <br />Section 2. The City Council herby approves the Authority entering into the <br />Amendment to the Loan Agreement for the purposes of lowering the interest rate to <br />produce debt service savings over the remaining term of the Loan. Neither the City nor <br />the Authority bear any financial responsibility whatsoever for the Loan, as amended. <br />Section 3. All actions heretofore taken by the employees, officers and agents of <br />the City with respect to the Amendment are hereby approved and ratified, and the <br />officers and employees of the City and their authorized deputies and agents are hereby <br />authorized and directed, jointly and severally, to do any and all things to execute and <br />deliver any and all certificates and documents which they, bond counsel and the <br />Authority Attorney and the City deem necessary or advisable to consummate the <br />Amendment and otherwise effectuate the purpose of this Resolution. <br />Section 4. This Resolution shall take effect immediately upon its adoption by the <br />City Council, and the Clerk of the Council shall attest to and certify the vote adopting <br />this Resolution. <br />Resolution No. 2014 -002 <br />Page 2 of 3 <br />