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Financing Statement and Assignment of Leases and Rents (the "Mortgage"), <br /> dated as of November 1, 2001, from the Owner to the City, by which the <br /> Owner grants to the City a first mortgage lien on, a security interest in, and an <br /> assignment of leases and rents of, its leasehold and ownership interest in the <br /> Mortgaged Property (as defined therein); <br /> (d) a Subordinated Combination Mortgage, Security Agreement, <br /> Fixture Financing Statement and Assignment of Leases and Rents (the <br /> "Subordinate Mortgage"), dated as of November 1, 2001, from the Owner to <br /> the City, by which the Owner grants to the City a second mortgage lien on, a <br /> security interest in, and an assignment of leases and rents of, its leasehold and <br /> ownership interest in the Mortgaged Property; <br /> (e) an Assignment of Mortgage (the "Assignment"), dated as of <br /> November 1, whereby the City assigns its interest in the Mortgage and the <br /> Subordinate Mortgage to the Trustee; <br /> (f) a Development Agreement (the "Development Agreement), <br /> dated as of November 1, 2001, between the City, the Orono Housing and <br /> Redevelopment Authority(the "HRA") and the Owner, by which the Owner <br /> agrees to develop and construct the Project and the HRA agrees to provide tax <br /> increment financing to the Project; <br /> (g) a Bond Purchase Agreement(the "Bond Purchase Agreement"), <br /> between the City, the Owner, and Miller Johnson Steichen Kinnard, Inc. (the <br /> "Underwriter") (the documents described in (a) through (g) above being the <br /> "Bond Documents"); and <br /> (h) a form of the Official Statement (the "Official Statement"), to be <br /> completed, describing the offering of the Bonds and certain terms and <br /> provisions of the documents recited herein. <br /> 4. Authorization of Bonds. The City hereby authorizes the issuance of the <br /> Bonds under the Act and the Indenture, the sale of the Bonds to the Underwriter in <br /> accordance with the Bond Purchase Agreement and the loan of the proceeds of the <br /> Bonds to the Owner in accordance with the Loan Agreement. <br /> 5. Authorization of Documents Presented. The forms of the Bond <br /> Documents are approved, with such additions or modifications thereto and deletions <br /> therefrom as may be approved by the Mayor, the City Clerk, the Finance Director or <br /> the City Administrator prior to the execution and delivery thereof, such approval to be <br /> conclusively evidenced by the execution and delivery thereof by the appropriate <br /> officers of the City. <br /> 6. Execution and Delivery of Bonds. The City is hereby authorized to <br />