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<br />Any reference herein to the Issuer, the Issuing
<br />Authority, the Trustee, or to any officer, employee or official
<br />thereof, shall include those succeeding to their respective
<br />functions, duties or responsibilities pursuant to or by
<br />operation of law or who are lawfully performing such functions.
<br />Any reference herein to any other person or entity shall
<br />include his or its respective successors and assigns. Any
<br />reference herein to any right, duty, obligation, representation,
<br />warranty or covenant of the Borrowers shall be construed to be
<br />the joint and several rigrit, duty, obligation, representation,
<br />warranty or covenant of each of the Borrowers. Any reference
<br />to a section or provision of the Code, the Ohio Constitution or
<br />the Act or to a section, provision or chapter of the Ohio
<br />Revised Code shall include such section or provision or chapter
<br />as from time to time amended, modified, revised, supplemented,
<br />or superseded; provided, however, that no such change shall
<br />alter the obligation to pay the Bond Service Charges in the
<br />amounts and manner, at the times, and from the sources provided
<br />in this Bond Legislation and the Indenture, except as otherwise
<br />herein permitted, or shall be deemed applicable by reason of
<br />this provision if such change would in any way constitute an
<br />impairment of the rights of the Issuer or the Borrowers under
<br />the Agreement.
<br />Unless the context shall otherwise indicate, words
<br />importing the singular number shall include the plural number,
<br />and vice versa, any pronoun shall be deemed to cover all
<br />genders, and the terms "herein", "hereof", "hereby", "hereto",
<br />"hereunder", and similar terms, mean this Bond Legislation and
<br />the Indenture and not solely the portion hereof in which any
<br />such word is used.
<br />Section 2. Determinations of Issuing Authority and
<br />Approval of Bond Issuance. Pursuant to Section 165.03 of the
<br />Act, the Issuing Authority hereby finds and determines that the
<br />Project is a"project" as defined in the Act and is consistent
<br />with the provisions of Section 13 of Article VIII, Ohio Constit-
<br />ution.
<br />The Issuing Authority, as the "applicable elected
<br />representative" of the Issuer for the purposes of Section
<br />103(k) of the Code, hereby approves the issuance of the Bonds
<br />in the maximum aggregate face amount of $450,000, the proceeds
<br />of which will be used to finance the Project as follows:
<br />The Project consists of the acquisition,
<br />construction, installation and equipping of two
<br />industrial facilities for the rental, sales and
<br />service of construction equipment, lawnmowers,
<br />parts and other related items, for general
<br />contractors and homeowners, to be located at
<br />23900-23904 Lorain Road, North Olmsted, Ohio
<br />44070. The Project will be owned by the
<br />Borrowers and leased to Adon Equipment Co., Inc.
<br />an Ohio corporation.
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