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r. M-3740r'2/66 12/14/83 ,..? ORDINANCE N0. 83-152 AN ORDINANCE AUTHORIZING THE ISSUANCE OF A$2,500,000 INDUSTRIAL DEVELOPMENT FIRST MORTGAGE REVENUE NOTE OF THE CITY OF NORTH OLMSTED, OHIO, IN ORDER TO ASSIST FAIRVIEW WEST PARTNERS, LTD., AN OHIO LIMITED PARTNERSHIP, IN FINANCING THE COSTS OF THE ACQUISITION, CONSTRUCTION, IMPROVEMENT, AND EQUIPPING OF A COMM:RCIAL FACILITY TO BE OWNED BY SUCH PARTNERSHIP AND LEASED TO FAIRVIEW REALTY MANAGEMENT COMPANY, TO BE USED AS A MEDICAL OFFICE BUILD- ING, LOCATED WITHIN THE BOUNDARIES OF THE CITY; AUTHORIZ- ING THE ISSUANCE OF ADDITIONAL NOTES; PROVIDING FOR THE PLEDGE OF REVENUES AND RECEIPTS FOR THE PAYMENT OF SAID NOTES; AUTHORIZING A LOAN AGREEMENT WITH RESPECT TO THE PROCEEDS DERIVED FROM THE SALE OF SAID NOTES; AND TO FURTHER SECURE THE PAYMENT OF PRINCIPAL, PREMIUM, IF ANY, AND INTEREST ON SAID NOTES BY THE ASSIGNMENT OF SUCH LOAN AGREEMENTi AND I3ECLARING AN ET'[ERCENCY. , WFEREAS, the City of North Olmsted (the "Issuer") is a municipal corporation and political subdivision in and of the State of Ohio and by virtue of the laws of said State, including Section 13 of Article VIII of the Ohio Constitution and Chapter 165 of the Ohio Revised Code is authorized and empowered (a) to finance, acquire, construct, improve, install, and equip real and personal property comprising a commercial facility to be used as a medical office building within the boundaries of the Issuer to be owned by Fairview West Partners, Ltd., an Ohio limited partnership (the "Owner"), and leased to Fairview Realty Manage- ment Company, an Ohio corporation, (b) to issue revenue notes to finance the costs thereof, (c) to enter into an agreement with the Owner to loan the proceeds of said revenue notes, (d) to secure and provide for the payment of such revenue notes by an assignment of such agreement to a financial institution and by a pledge and assignment of revenues and