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(Decatur Development Company Project) (the "Bonds" ) of the Munici- <br /> ' pality, as authorized and permitted by the Enabling Ordinance; and <br /> WHEREAS, the Municipality proposes to lend the proceeds <br /> of the Bonds to the Mortgagor pursuant to a Mortgage, Loan and <br /> Security Agreement dated as of June l, 1982 (the "Mortgage" ) ; and <br /> WHEREAS, the loan of the proceeds of the Bonds will be <br /> further evidenced by a First Mortgage Note in the amount of $800, 000 <br /> from the Mortgagor to the Municipality, dated as of June 1, 1982 <br /> (the "Note" ) , the form of which is set forth as Exhibit C to the <br /> Mortgage; and <br /> WHEREAS, the Bonds will be further secured by a mortgage <br /> on the Project; and <br /> WHEREAS, the Municipality proposes to issue and sell the <br /> Bonds in order to pay the costs incurred in connection with the <br /> acquisition, construction and equipping of the Project as aforesaid <br /> and the Bonds will be issued under the terms of a Trust Indenture <br /> dated as of June 1, 1982 (the "Indenture" ) , between the Municipality <br /> and Mercantile Bank and Trust Company (the "Trustee" ) ; and <br /> WHEREAS, pursuant to the Indenture, the Municipality <br /> shall assign to the Trustee all of the Municipality' s right, title <br /> and interest in and to the Mortgage and the Note as security for <br /> the Bonds; and <br /> WHEREAS, the Municipality has caused to be prepared and <br /> presented to this meeting the following documents, which the Muni- <br /> cipality proposes enter into: <br /> l . The form of the Mortgage (including the form of <br /> Note attached thereto as Exhibit C) ; <br /> -3- <br />