2019-09RESOLUTION NO. 2019- 9
COUNCIL MEMBER WOLFF INTRODUCED THE FOLLOWING RESOLUTION:
BE IT RESOLVED, by the Mayor and City Council of the City of Blair, Nebraska that
approval of the proposed form of the Assignment and Assumption of Redevelopment Agreement
by and between the City of Blair, Nebraska, a Nebraska municipal corporation, and the Community
Development Agency of the City of Blair, Nebraska, in the form attached hereto and incorporated
herein as Exhibit A, is hereby approved. The Mayor and City Clerk, on behalf of the City, are
hereby authorized to execute said Assignment and Assumption of Redevelopment Agreement in
substantially the form presented but with such changes as they shall deem appropriate or necessary.
The execution and delivery by the Mayor of the Assignment and Assumption of Redevelopment
Agreement, or any such documents, instruments, agreements or certifications relating to such
matters contained in the Assignment and Assumption of Redevelopment Agreement, shall
conclusively establish their authority with respect thereto and the authorization and approval
thereof.
COUNCIL MEMBER WOLFF MOVED THAT THE RESOLUTION BE ADOPTED AS READ,
WHICH SAID MOTION WAS SECONDED BY COUNCIL MEMBER ANDERSEN. UPON
ROLL CALL, COUNCIL MEMBERS STEWART, RUMP, WILLIS, ANDERSEN, WOLFF,
JENSEN AND HALL VOTING "AYE", AND COUNCIL MEMBERS NONE VOTING "NAY",
THE MAYOR DECLARED THE FOREGOING RESOLUTION PASSED AND ADOPTED
THIS 12TH DAY OF FEBRUARY 2019.
CITY OF BLAIR, NEBRASKA
BY
RICHARD HANSEN, MAYOR
ATTEST:
BRENDA WHEELER, CITY CLERK
(SEAL)
STATE OF NEBRASKA )
) :ss:
WASHINGTON COUNTY )
BRENDA WHEELER hereby certifies that she is the duly appointed, qualified and acting City
Cleric of the City of Blair, Nebraska, and that the above and foregoing Resolution was passed and
adopted at a regular meeting of the Mayor and City Council of said city held on the 12th day of
February 2019.
BRENDA WHEELER, CITY CLERK
ASSIGNMENT AND ASSUMPTION OF REDEVELOPMENT AGREEMENT
THIS ASSIGNMENT AND ASSUMPTION OF REDEVELOPMENT AGREEMENT
("Assignment") is made by and between the City of Blair, Nebraska, a Nebraska Municipal
Corporation in Washington County, Nebraska (the "City"), and the Community Development
Agency of the City of Blair, Nebraska (the "CDA").
RECITALS
A. The City and WP, LLC, a Nebraska limited liability company ("Redeveloper"), via
Resolution No. 2015-35, entered into that certain redevelopment agreement for the
Woodhouse Redevelopment Project Plan dated November 6, 2015, attached hereto and
incorporated herein as Exhibit A (the "Redevelopment Agreement").
B. The Redevelopment Agreement sets forth certain rights and obligations of the City and
Redeveloper with respect to a redevelopment project under the Nebraska Community
Development Law.
C. Ordinance No. 1391 of the City establishes that the CDA has the authority to carry out all
functions of an "authority" under the Nebraska Community Development Law.
D. In accordance with Ordinance 1391 and the Nebraska Community Development Law, the
City wishes to assign the Redevelopment Agreement to the CDA.
NOW, THEREFORE, in consideration of the recitals above which are incorporated below
and other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto do hereby agree as follows:
1. Assignment. The City hereby grants, conveys, assigns, and transfers to the CDA,
its successors and assigns, any and all right, title, obligation and interest of the City, in and to the
Redevelopment Agreement for the remaining term thereof, together with any and all rights and
appurtenances thereto in any way belonging to the City and its successors and assigns.
2. Acceptance and Assumption. The CDA hereby accepts and agrees to perform all
of the terms, covenants, obligations and conditions of the Redevelopment Agreement required to
be performed by the City.
3. Counterparts. This Assignment may be executed in counterparts, each of which
shall be deemed to be an original, but all of which, taken together, shall constitute but one and
the same agreement.
4. Construction. The language of this Assignment will be construed simply,
according to its fair meaning, and not strictly for or against any party hereto.
5. Additional Acts. The City and the CDA each agree to execute such other
documents and perform such other acts as may be necessary or desirable to effectuate this
Assignment.
DOCS/2000236.1 1
6. Definitions. Any capitalized term not defined herein shall have the meaning
ascribed to such term in the Redevelopment Agreement, except as the context otherwise requires.
(Signatures on following pages)
DOCS12000236.1 2
IN WITNESS WHEREOF, the parties hereto have caused this Assignment to be signed
effective the 12th day of February, 2019.
THE CITY:
City of Blair, Nebraska
(SEAL)
Mayor
Io -W -4-F
City Clerk
DOCS/20002361 3
(SEAL)
ATTEST:
f
Secretary (City Clerk)
DOCS/2000236.1
THE CDA:
Community Development Agency for the
City of Blair, Nebraska
f
Chairperson (Mayor)
Acknowledgment and Consent of Redeveloper
WP, LLC, a Nebraska limited liability company, as a party to the Redevelopment
Agreement, acknowledges and consents to the assignment and assumption of the Redevelopment
Agreement from the City to the CDA provided herein.
'VVIR, LLC,
aNebrask ' ed liability company
By:
Name: Jc tic
Title: C�
Do=000236.1
EXHIBIT A
TO ASSIGNMENT AND ASSUMPTION OF REDEVELOPMENT AGREEMENT
REDEVELOPMENT AGREEMENT
(See attached)
DOCS/2226116.1
RESOLUTION NO. 2015- 35
COUNCIL MEMBER WOLFF INTRODUCED THE FOLLOWING RESOLUTION:
A RESOLUTION OF THE MAYOR AND CITY COUNCIL OF THE CITY OF BLAIR,
NEBRASKA, APPROVING A REDEVELOPMENT AGREEMENT FOR REDEVELOPMENT
AREA #3 PROJECT #1, IN THE CITY OF BLAIR, NEBRASKA, AUTHORIZING THE
ISSUANCE OF INDEBTEDNESS AND ADVANCES OF MONEY IN CONNECTION WITH
THE REDEVELOPMENT PLAN, AND PROVING THE PLEDGE OF INCREMENTAL TAX
REVENUES IN THE PROJECT AREA FOR PAYMENT OF SUCH INDEBTEDNESS AND
ADVANCES.
WHEREAS, on October 13, 2015, by Resolution No. 2015-33, the City Council of the City
of Blair approved Woodhouse Redevelopment Project Plan for a site legally described as Lots 7 and
8, Pleasant Valley 11, which contemplates the redevelopment of the Lots into a surface parking
facility on Lot 8 and a building to be constructed on Lot 7, consisting of approximately 31,000
square feet; and,
WHEREAS, Woodhouse Redevelopment Project Plan provides for up to $294,718 in TIF to
offset TIF eligible costs such as acquisition, site work and demolition, utility infrastructure, footing
and foundations, soil testing, architectural and engineering fees, and other public improvements as
required, for a project with total estimated costs of $649,000.00; and,
WHEREAS, this Agreement is a redevelopment agreement prepared pursuant to the
Nebraska Community Development Law in order to implement the above -referenced Redevelopment
Plan, and contemplates the use of the excess ad valorem taxes generated by such development.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF
THE CITY OF BLAIR, NEBRASKA., that the Redevelopment Agreement attached hereto, and by
this reference made a part hereof as though fully set forth herein, which has been presented to the
City Council, is hereby accepted and adopted by the City of Blair, Nebraska, and that the Mayor and
the City Clerk of Blair, Nebraska, are hereby authorized and directed to execute said Redevelopment
Agreement on behalf of the municipality.
COUNCILMEMBER HALL MOVED THAT THE RESOLUTION BE ADOPTED AS READ,
WHICH SAID MOTION WAS SECONDED BY COUNCILMEMBER JENSEN. UPON ROLL
CALL, COUNCILMEMBERS STEWART, HANSEN, WILLIS, ANDERSEN, WOLFF, JENSEN
AND HALL VOTING "AYE", AND COUNCILMEMBERS NONE VOTING "NAY", THE
MAYOR DECLARED THE FOREGOING RESOLUTION WAS PASSED AND ADOPTED.
Passed and approved by the City of Blair this 27th day of October, 2015.
CITY OF BLAIR, NEBRASKA
By: L/--
JS REALPH, MAYOR
ATTEST:
b�f �/L j L 0� -
BRENDA WHEELER, CITY CLERK
(SEAL)
STATE OF NEBRASKA )
) :ss:
WASHINGTON COUNTY )
BRENDA R. WHEELER, hereby certifies that she is the duly appointed, qualified and acting City
Clerk of the City of Blair, Nebraska, and that the above and foregoing Resolution was passed and
adopted at a regular meeting of the Mayor and City Council of said city held on the 27th day of
October, 2015.
BRENDA R. WHEELER, CITY CLERK
REDEVELOPMENT AGREEMENT
THIS AGREEMENT is entered into by and between the City of Blair, a Nebraska
Municipal Corporation in Washington County, Nebraska, and WP, LLC, a Nebraska limited
liability company.
RECITALS:
WHEREAS, on October 13, 2015, by Resolution No. 2015-33, the City Council of the
City of Blair approved Woodhouse Redevelopment Project Plan for a site legally described as
Lots 7 and 8, Pleasant Valley Il, which contemplates the redevelopment of the Lots into a surface
parking facility on Lot 8 and a building to be constructed on Lot 7, consisting of approximately
31,000 square feet as shown in Exhibit "A", a site plan which is attached hereto and made a part
hereof, and,
WHEREAS, Woodhouse Redevelopment Project Plan provides for up to $294,718 in
TIF to offset TIF eligible costs such as acquisition, site work and demolition, utility
infrastructure, footing and foundations, soil testing, architectural and engineering fees, and other
public improvements as required, for a project with total estimated costs of $649,000.00; and,
WHEREAS, this Agreement is a redevelopment agreement prepared pursuant to the
Nebraska Community Development Law in order to implement the above -referenced
Redevelopment Plan, and contemplates the use of the excess ad valorem taxes generated by such
development.
IN CONSIDERATION OF THESE MUTUAL COVENANTS, THE PARTIES AGREE
AS FOLLOWS:
SECTION 1. DEFINITIONS
The following terms, whether plural or singular, shall have the following meanings for
purposes of this Agreement.,
1.1 "City" shall mean - the City of Blair, Nebraska, a Municipal Corporation of the
first class or such successor entity lawfully established pursuant to the applicable
provision of the Nebraska Community Development Act.
1.2 "Owner" shall mean — WP, LLC, a Nebraska limited liability company.
1.3 "Director" shall mean - the City Administrator of the City of Blair.
1.4 "Redevelopment Project" shall mean — the redevelopment of Lots 7 and 8,
Pleasant Valley II, an addition to the City of Blair, Washington County, Nebraska,
which Lots shall be redeveloped into a surface parking facility on Lot 8, and a
building consisting of approximately 31,000 square feet for use as a body repair
shop and related facilities as shown on the Site Plan Exhibit "A".
-1-
1.5 "Redevelopment Site" shall mean - the area legally described on Exhibit `B",
attached hereto.
1.6 "Redevelopment Note ("TIF Funds"/"TIF Proceeds)" shall mean - any obligation
issued by the City and secured by the excess ad valorem taxes generated within
the Redevelopment Site.
1.7 "Excess ad valorem taxes" shall mean - the additional levied real estate property
taxes generated by this Redevelopment Project pursuant to Section 18-2147 of the
Nebraska Revised Statutes commencing on the Effective Date and ending 15
years thereafter.
1.8 "Effective Date" shall mean -- the agreed upon date that the excess ad valorem
taxes levied upon the Redevelopment Project shall be divided from base ad
valorem taxes (calculated from the base year valuation); for purposes of this
Agreement, the parties agree the Effective Date shall be January 1, 2016. The
parties agree that the special fund set up by the City shall receive all those excess
ad valorem taxes levied for 2016 through and delinquent between 2017 through
2031 (and also include the receipts of such levied taxes irrespective of whether
they are collected in the year they are due and payable or the year in which they
are delinquent) or until the Redevelopment Note is paid in full and discharged,
whichever occurs first. City and the Owner agree that the base year valuation of
the Redevelopment Site shall be January 1, 2015; and the City shall file a Notice
to Divide so as to accomplish a division of the ad valorem taxes upon the
Effective Date.
SECTION 2. OBLIGATIONS OF THE CITY
The City shall:
2.1 execute and deliver to the Owner at closing the Redevelopment Note in
substantially the same form as the copy attached hereto as Exhibit "C".
2.2 grant Redevelopment Loan proceeds to the Owner in the sum of $294,718.00.
2.3 pay debt retirement principal and interest from the excess ad valorem taxes (TIF
tax proceeds) to be deposited in the special fund described in Section 1.8. Interest
on monies in the special fund shall accrue first to debt retirement interest and then
to principal.
2.4 ensure that prior to expenditure or disbursement of Redevelopment Loan
proceeds, the following shall be obtained, to wit:
2.4.1 Owner shall provide the Director with evidence, acceptable to the
Director, that the private funds have been irrevocably committed to the
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Redevelopment Project in the amount sufficient to complete the
redevelopment project.
2.4.2 Owner shall provide surety bonds to the extent required by law.
2.5 establish a special fund under Section 18-2147 of the Nebraska Revised Statutes
for the purpose of collecting the excess ad valorem taxes generated by the
Redevelopment Project. Monies collected and held in the special fund shall be
used for no purpose other than to repay the Redevelopment Loan. The parties
agree that it is the intent hereunder that all excess ad valorem taxes levied and
delinquent from 2017 through 2031 shall be allocated to the special fund, and all
excess ad valorem taxes collected between January 1, 2017 and December 31,
2031, shall be paid into the special fund, for purposes of repaying the
Redevelopment Loan. Under no circumstance shall the Owner receive from the
special fund more than fifteen (15) years of excess ad valorem taxes (i.e. 30 semi-
annual installments).
SECTION 3. OBLIGATIONS OF THE OWNER
The Owner shall:
3.1 complete the Redevelopment Project on or before October 31, 2017, creating an
increase in real property taxable base by reason of such construction of at least
$1,573,355.00.
3.2 cause all real estate taxes and assessments levied on the Redevelopment Project to
be paid prior to the time such become delinquent.
3.3 loan redevelopment funds to the City in the principal amount of $294,718.00 as
set forth in Section 2.1, which, when combined with other private funds available,
will be sufficient to construct the redevelopment project. Execution and delivery
of the Redevelopment Promissory Note shall be at closing, which shall be as soon
as reasonably possible after execution of this Agreement but not more than 60
days thereafter. At closing, the loan to be accomplished by this Section and the
obligation of the City to use the redevelopment loan proceeds for redevelopment
purposes under Section 2.2 may be accomplished by offset so that the Owner
retains the loan proceeds. If the City so requests, the Owner shall, from time -to -
time, furnish the City with satisfactory evidence as to the use and application of
the redevelopment loan proceeds.
3.3.1 Such loan funds shall be disbursed as provided in Section 2.
3.3.2 Such loan shall bear a 5.0% interest rate.
3.3.3 The principal shall be repaid by the City from the special fund established
pursuant to Section 2.5, as excess ad valorem taxes, pursuant to the
Redevelopment Plan and Section 18-2147 of the Nebraska Revised
-3-
Statutes, become available to the City for such use. To the extent of such
excess ad valorem taxes are unavailable to the City, the loan shall be
forgiven and the obligations of the Owner shall remain unaffected.
3.4 provide the City with quarterly progress reports during the redevelopment and
allow the City reasonable access upon written request to Owner to any relevant
financial records pertaining to the Redevelopment Project.
3.5 during the period that the Redevelopment Note (TIF Funds) is outstanding, (1) not
protest a real estate improvement valuation on the Redevelopment Site of
$441,645.00 (base) or less prior to and during construction; and $2,015,000.00
[$441,645.00 (base) plus $1,573,355.00 (excess valuation)] or less after
substantial completion or occupancy of the Redevelopment Project; (2) not
convey the Redevelopment Site or structures thereon to any entity which would
be exempt from the payment of real estate taxes, not apply for exemption of real
estate taxes from the county or the state, or cause the nonpayment of such real
estate taxes; if the county and/or state award the exemption of real estate taxes,
this TIF will be rendered void and cancelled; (3) not apply to the Washington
County Assessor for the structures, or any portion thereof, to be taxed separately
from the underlying land of the Redevelopment Site; (4) maintain insurance for
ninety percent (90%) of the full value of the structures on the Redevelopment
Site; (5) in the event of casualty, apply such insurance proceeds to their
reconstruction to the extent permitted by Owner's mortgage lender and (6) cause
all real estate taxes and assessments levied on the Redevelopment Site to be paid
prior to the time such become delinquent. In lieu of the above, the Owner may
surrender any remaining amount outstanding of the Redevelopment Promissory
Note to City. Each of the foregoing covenants shall be referenced in a Notice of
Redevelopment Agreement to be recorded with the Washington County, Nebraska
Register of Deeds. The Owner agrees to include the same restrictions to be
included in any subsequent sale, assignment, sale-leaseback or other transfer of
the property, but shall not be responsible otherwise for the actions of the third
parties if these covenants are breached by such third parties if the Owner no
longer owns the property.
6 shall provide -the -City -of -Blair -Finance -Department witlratr-execute&-copy-of-th
Redevelopment Promissory Note prior to disbursement of any proceeds for
repayment of such Note pursuant to Section 2.5, so that such payment can be
noted on the Note and the Note returned to Owner.
Notwithstanding any provision in this Agreement to the contrary, if the Developer fails to.
comply with the provisions of this Section, the only consequence will be that there may not be
sufficient Excess ad valorem taxes to repay the outstanding Redevelopment Note; and the
Developer shall not be deemed in default hereunder and the City shall have no recourse or
remedies or responsibility to pay any obligations of the Developer.
-4-
SECTION 4. PROVISIONS OF THE AGREEMENT
4.1 Non-discrimination. The Owner shall not, in the performance of this Agreement,
discriminate or permit discrimination in violation of federal or state laws or local
ordinances because of race, color, sex, age, political or religious opinions,
affiliations or national origin.
4.2 Captions. Captions used in this Agreement are for convenience and are not used
in the construction of this Agreement.
4.3 Applicable Law. Parties to this Agreement shall conform with all existing and
applicable city ordinances, resolutions, state laws, federal laws, and all existing
and applicable rules and regulations. Nebraska law shall govern the terms,
conditions and performance under this Agreement.
4.4 Merger. This Agreement shall not be merged into any other oral or written
Agreement, lease or deed of any type.
4.5 Modification. This Agreement contains the entire agreement of the parties. No
representations were made or relied upon by either party other than those that are
expressly set forth herein. No agent, employee or other representative of either
party is empowered to alter any of the terms herein unless done in writing and
signed by an authorized officer of the respective parties.
4.6 Assignment. The Owner may not assign its rights under this Agreement without
the express prior written consent of the City; such consent not to be unreasonably
withheld. The Mayor may, without City Council approval, approve, in writing,
the assignment of all rights hereunder to a successor entity owned by, or under
common control with Owner.
4.7 Strict Compliance. All provisions of this Agreement and each and every
document that shall be attached shall be strictly complied with as written, and no
substitution or change shall be made except upon written direction from
authorized representatives of the parties.
4.8 This Agreement shall be binding upon the Owner's successors and assigns, and
shall run with the land legally described in Exhibit `B", attached hereto.
SECTION 5. AUTHORIZED REPRESENTATIVE
In further consideration of the mutual covenants herein contained, the parties hereto
expressly agree that for the purposes of notice, including legal service of process, during the term
of this Agreement and for the period of any applicable statute of limitations thereafter, the
following named individuals shall be the authorized representatives of the parties:
-5-
(1) City of Blair:
City Administrator
218 South 16th Street
Blair, Nebraska 68008
(2) Owner:
WP, LLC
2171 South Highway 30, Box 546
Blair, Nebraska 68008
Attention: Mr. Paul Cech, CFO
Either party may designate additional representatives or substitute representatives by
giving written notice thereof to the designated representative of the other party.
Executed this 27 day of 6 G�d L V , 2015.
ATTEST:
CITY CLERK OF THE CITY OF BLAIR
APPROVED AS TO FORM:
CITY A ORNEY
CITY OF BLAIR:
MA 0 OF THE CITY O LAIR
Executed this � day of IqL V e ,,v, 6 L, tZ , 2015.
OWNER:
WP, LLC, a Nebraska limited liability company,
BY:
NAM A,,
TITLE: S
-6-
STATE OF NEBRASKA )
)ss.
COUNTY OF WASHINGTON )
Tau l Ccc -, , as of WP, LLC, a Nebraska limited liability
company, acknowledged the foregoing Redevelopment Agreement before me this (qday of
N o4 eAn6cr , 2015.
XGENERALNOTARY - State of Nebraska Notary Public, State of Nebraska
BRENDA R WHEELER
My Comm. Exp, June 20, 2016
My commission expires on j u ,,, -f
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EXHIBIT C
THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933
(THE 4C'33 ACT") AND MAY NOT BE TRANSFERRED, ASSIGNED, SOLD OR
HYPOTHECATED UNLESS A REGISTRATION STATEMENT UNDER THE '33 ACT
SHALL BE IN EFFECT WITH RESPECT THERETO AND THERE SHALL HAVE
BEEN COMPLIANCE WITH THE '33 ACT AND ALL APPLICABLE RULES AND
REGULATIONS THEREUNDER, OR THERE SHALL HAVE BEEN DELIVERED TO
THE CITY OF BLAIR PRIOR TO TRANSFER, ASSIGNMENT, SALE OR
HYPOTHECATION AN OPINION OF COUNSEL, SATISFACTORY TO THE CITY OF
BLAIR TO THE EFFECT THAT REGISTRATION UNDER THE '33 ACT IS NOT
REQUIRED.
REDEVELOPMENT PROMISSORY NOTE
$294,718.00
2015
FOR VALUE RECEIVED, the undersigned Borrower promises to pay to WP, LLC,
LLC, a Nebraska limited liability company, whose address is 2171 South Highway 30, Box 546,
Blair, Nebraska 68008, and/or its assigns ("Holder"), the principal sum of Two Hundred Ninety
Four Thousand Seven Hundred Eighteen and No/100th ($294,718.00) Dollars, together with
interest thereon at the rate of Five Percent (5.0%) per annum from the date of the execution of
this Note until paid in full. The principal balance and interest thereon shall be due and payable
to the holder of said Redevelopment Promissory Note as and at such time as any Excess ad
valorem taxes generated by the Redevelopment Project as set forth in that certain Redevelopment
Agreement dated the th day of October, 2015, by and between the Borrower and the Holder
(the "Redevelopment Agreement") are collected by the City of Blair and available for the
retirement of this debt. All payments shall be applied.first to interest and then to the principal
sum of this Note.
In the event of default under said Redevelopment Promissory Note, all sums secured by
this Note or any other agreement securing this Note shall bear interest at a rate equal to six
percent (6.0%) above the national prime rate as published by the Wall Street Journal; however,
in the event said interest rate exceeds the maximum rate allowable by law then such rate of
interest shall equal the highest legal rate available.
Borrower may prepay the principal amount outstanding in whole or in part, without the
prior consent of the Holder.
In the event the monies collected and held in that special fund established under Section
18-2147 of the Nebraska Revised Statutes and pursuant to the Redevelopment Agreement are
insufficient to pay in full all amounts due and owing at a date fifteen (15) years from January 1
2017, and all excess ad valorem taxes generated by the Redevelopment Project, as set forth in the
Redevelopment Agreement, have been collected by the City of Blair and have been paid,
immediately upon being available, towards the retirement of the amounts due hereunder, then, at
said date fifteen (15) years from January 1, 2017, the Holder shall waive any unpaid portion of
the principal and interest due upon written request of the City of Blair. Borrower agrees that the
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real property taxes which are levied in the fifteenth (15') year with respect to the Lot and the
Improvements (as defined the Redevelopment Agreement), shall be paid, immediately upon
being available to the City of Blair, towards the retirement of the amounts due hereunder, but in
no event shall the Holder receive more than fifteen (15) years of tax payments (30 semi-annual
payments).
In the event this Note is referred to an attorney for collection the Holder shall be entitled
to reasonable attorney fees allowable by law and all court costs and other expenses incurred in
connection with such collection.
The Borrower shall be in default in the event the Borrower shall fail to pay, when due,
any amount required hereunder.
Holder may at any time before or after default, exercise its right to set off all or any
portion of the indebtedness evidenced hereby against any liability or indebtedness of the Holder
to the Borrower without prior notice to the Borrower.
Demand, presentment, protest and notice of nonpayment under this Note are hereby
waived.
No delay or omission on the part of the Holder in exercising any remedy, right or option
under this Note shall operate as a waiver of such remedy, right or option. In any event, a waiver
on any one occasion shall not be construed as a waiver or bar to any such remedy, right or option
on a future occasion.
Any notice provided for in this Note to the Borrower or the Holder shall be in writing and
shall be given by regular mail to the Holder or Borrower, or at such other address as either party
may designate by notice in writing.
This Note shall be governed by and construed in accordance with the laws of the State of
Nebraska. All payments hereunder shall be payable in lawful money of the United States of
America and shall be legal tender for public and private debts at the time of payment. ,
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ATTEST:
CITY OF BLAIR, NEBRASKA,
Municipal Corporation
Mayor of the City of Blair
APPROVED AS TO FORM:
City Clerk of the City of Blair City Attorney
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