1. MIDA bond refinancing-Pioneer House

3.2. The Chair, the County Auditor and the other officers of the County are hereby authorized and directed to prepare and furnish such other documents, affidavits and certificates and to take such further action as may be necessary to issue the Series 2014 Note. 3.3. The Series 2014 Note shall be in the principal amount of$3,700,000, or such lesser amount as may be loaned thereunder in accordance with the Loan Agreement. The Series 2014 Note shall bear interest at the rates and shall be payable as to principal and interest in installments as described in the Series 2014 Note. The Series 2014 Note shall be a limited obligation of the County, payable solely from amounts payable by the Corporation under the Loan Agreement and secured by the property described in the Mortgage — Short Term Redemption Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Financing Statement from the Corporation to the Purchaser. The Series 2014 Note shall not constitute a debt of the County within the meaning of any constitutional provision or statutory limitation and shall never constitute or give rise to a pecuniary liability or moral obligation of the County or a charge against its general credit or taxing powers, or constitute a charge, lien, or encumbrance, legal or equitable, upon any property of the County, except revenues under the Loan Agreement. Section 4. Registration and Payment. 4.1. The Series 2014 Note shall be issued in fully registered form. The principal of and interest on the Series 2014 Note shall be payable by check or draft payable to the Person who is the registered Holder thereof on the date of payment. 4.2. The County Auditor shall be the bond registrar, transfer agent, authenticating agent and paying agent for the Series 2014 Note (the "Registrar"). The effect of registration and the rights and duties of the County with respect thereto are as follows: (a) The Registrar shall keep a register (the "Note Register") in which the Registrar shall register the ownership of the Series 2014 Note and the transfers and exchanges of the Series 2014 Note. (b) Upon surrender for transfer of the Series 2014 Note duly endorsed by the Holder thereof or accompanied by a written instrument of transfer, in form satisfactory to the Registrar, duly executed by the registered Holder thereof or by an attorney duly authorized by the registered Holder in writing, the Registrar will authenticate and deliver, in the name of the designated transferee or transferees, a new Series 2014 Note of a like aggregate principal amount and maturity, as requested by the transferor. (c) The Series 2014 Note surrendered upon any transfer will be promptly cancelled by the Registrar and thereafter disposed of as directed by the County. (d) When the Series 2014 Note is presented to the Registrar for transfer, the Registrar may refuse to transfer the Series 2014 Note until the 3