The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1934-06-15

after the issuance Thereof to the Govern
ment, if in the judgment of Counsel for
the Government such action may be
deemed necessary, appropriate or adj
visable. The Borrower further COW
enants that it will procure and furnish
to the Government, as condition
precedent to the Governments obl-
cations hereunder, letter from the
Governor of the State of Minnesota in
form satisfactory to Counsel for the
Government and expressing the COW
enant and agreement of said Governor
to effectuate insofar as it is within his
power the covenant of the Borrower as
hereinabove in this Paragraph ex-
pressed.
Ia. Miscellaneous. This Agreement
shall be binding upon the parties here
to when a copy thereof, duly executed
by the Borrower and the Government,
shall have been received by the Bor-
rover. This Agreement shall be gov
erned by and be construed in accord
ance with the laws of the State of
Minnesota.
Is. Promotion of National Recovery.
The Borrower covenants to discharge
faithfully and wit hall possible dis
patch the duties and obligations i'm
posed upon it by this Agreement, it
being the purpose of this Agreement to
enable the Borrower to secure the
benefits of the Act, foster employment,
promote the public welfare and thereby
assist in the recovery program of the
President of the United States.
16. Undue Delay by Borrower. The
Government shall have the right to re-
scind the allotment for the Project
and annul any obligation to make a
loan ra grant to the Borrower unless
the Borrower shall within reasonable
time:
(a) Sign and return to the Govern
ment three counterparts of this
Agreement as provided in Para
graphs / and 2, PART TWO,
hereof. For the purposes of this
subparagraph 16 (a) a reasonable
time shall be deemed to be ten
days in the ordinary course of
events or such longer period as
shall be allowed in the absolute
discretion of the Administrator
(b Comply with all the provisions
of Paragraph 2, PART TWO,
hereof, including particularly
subparagraph (e) relating to the
authorization and issuance of
the Bonds;
(c) File acquisitions with the Gov
eminent in accordance with the
provisions of Paragraphs and
S, PART TWO, hereof ;and
Id Commence or cause to be COM
meTced the construction of the
Project.
The Administrator shall determine in
his absolute discretion what constitutes
a reasonable time within the meaning
of this Paragraph 16.
II. Naming the Project. The Pro-
ject shall not be named except with
the written consent of the Admins
TRAITOR.
Is. Construction of Agreement. If
any provision of this Agreement shall
be invalid in whole or in part, to the
extent that it is not invalid it shall be
valid and effective and no such in
validity shall effect, in whole or in
part, the validity and effectiveness of
any other provision of this Agreement
or the rights or obligations of the
parties hereto, provided, in the opinion
of Counsel for the Government, the
Agreement does not then violate the
terms of the act
IN WITNESS WHEREOF, the CITY
OF ELY and the UNITED STATES OF
AMERICA have respectively caused this
Agreement to be duly executed as of the
day and year first above written.
CITY OF ELY
by
Mayor.
SEAL:
ATTEST:
.........
City Clerk of the City of Ely, Minnesota
TTNTrrE,T0 CrhTEC nIl ANEIsDIHh