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2. The City Council further approves Promissory Note, Acquisition Mortgage and <br /> Guaranty (all as defined in the Development Agreement) which evidence and secure the <br /> Developer's obligations under the Purchase Agreement, in substantially the forms submitted. <br /> 3. The approval hereby given to the Development Agreement, Purchase Agreement, <br /> as amended, Promissory Note, Acquisition Mortgage and Guaranty includes approval of such <br /> additional details therein as may be necessary and appropriate and such modifications thereof, <br /> deletions therefrom and additions thereto as may be necessary and appropriate and approved by <br /> the City officials authorized by this resolution to execute the Development Agreement and <br /> Purchase Agreement, as amended. The execution of the Development Agreement and Purchase <br /> Agreement, as amended by the appropriate officer or officers of the City shall be conclusive <br /> evidence of the approval of the Development Agreement and Purchase Agreement, as amended, <br /> in accordance with the terms hereof. <br /> The motion for adoption of the foregoing resolution was duly seconded by member <br /> and, after full discussion thereof, and upon a vote being taken thereof, the <br /> following voted in favor thereof: <br /> and the following voted against same: <br /> Adopted this 7th day of August, 2007. <br /> Mayor <br /> Attest: <br /> City Clerk <br /> L.. <br /> 2060538v1 2 <br />