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l-inancing Statement and Assignment of Leases and Rents (the “Murtgage"), <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 />(0 a Development Agreement (the “Development Agreement), <br />dated os of November 1,2001, betw een 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 I IRA agrees to provide tax <br />increment financing to the Project; <br />(g) a Rond Purchase Agreement (the “Rond Purchase Agreement ’^), <br />between the City, the Ow ner, and Miller Johnson Steichen Kinnard, Inc. (the <br />“Underwriter”) (the documents described in (a) through (g) above being the <br />“Rond Documents”); and <br />(h) a form of the OlTicial Statement (the “Official Statement ”), to be <br />completed, describing the olTering of the Ronds and certain terms and <br />provisions of the documents recited herein. <br />4. Authorization of Ronds. 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 />accordaiK'e w ith the Bond Purcliase Agreement and the loan of the proceeds of the <br />Bonds to the Owner in accordance w ith the Loan Agreement. <br />5. Authorization of l>xuments Presented. The forms of the Bond <br />I>ocuments are approved, w ith 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 dcliverx’ thereof, such approval to be <br />conclusively evidenced by the execution and deliveiy thereof by the appropriate <br />officers of the City. <br />Execution and Delivery of Bonds. The City is hereby authorized to <br />il.,.It ««>i