1. MIDA Bond Sisters of Presentation

approved; provided that in no event may the interest rate on the Bonds exceed 5.00% per annum, nor may the principal amount of the Bonds exceed $450,000. The Bonds shall be executed on behalf of the Issuer by the manual or facsimile signatures of the Chair of the Board of County Commissioners and County Auditor. In case any officer whose signature shall appear on the Bonds shall cease to be such officer before the delivery of the Bonds, such signature shall nevertheless be valid and sufficient for all purposes, the same as ifhad remained in office until delivery. In the event of the absence or disability of the Chair of the Board of County Commissioners or the County Auditor such officers of the Issuer as may act in their behalf, shall without further act or authorization of the County Commission execute and deliver the Bonds. 2.4. DELIVERY OF BONDS. Before delivery of the Bonds there shall be filed with Wells Fargo Brokerage Services, LLC (the "Lender") (except to the extent waived by the Lender) the following items: (a) an executed copy of each of the following documents: (i) the Loan Agreement; and (it) the Pledge Agreement; (b) Bonds; the opinion of Bond Counsel as to the validity and tax-exempt status of the (c) such other documents and opinions as Bond Counsel may reasonably require for purposes of rendering its opinion required in subsection (b) above, or that the Lender may reasonably require for the closing. 2.5. DISPOSITION OF BOND PROCEEDS. Upon delivery of the Bonds, the Lender shall, on behalf of the Issuer, deposit the proceeds in a Construction Account to be held by the Lender. Proceeds shall be disbursed by the Lender for payment of the cost of renovating and equipping the Facilities upon compliance with the provisions of the Loan Agreement. 2.6. REGISTRATION OF TRANSFER. The Issuer will cause to be kept at the office of the County Auditor a Bond Register in which, subject to such reasonable regulations as it may prescribe, the Issuer shall provide for the registration of transfers of ownership of the Bonds. The Bonds shall be initially registered in the name of the Lender and shall be transferable upon the Bond Register by the Lender in person or by its agent duly authorized in writing, upon surrender of the Bonds together with a written instrument oftransfer satisfactorv to the Countv Auditor, duly executed bv the Lender ~ . ~ . or its duly authorized agent. Upon such transfer the County Auditor shall note the date of registration and the name and address of the new owner in the Bonds Register and in the registration blank appearing on the Bonds. -3-