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IN WITNESS WHEREOF,the City of Pequot Lakes, Crow Wing County,Minnesota,by <br /> its City Council has caused this Bond to be executed on its behalf by the facsimile signatures of <br /> its Mayor and its City Clerk, the corporate seal of the Issuer having been intentionally omitted as <br /> permitted by law. <br /> Date of Registration: Registrable by: <br /> Payable at: <br /> CITY OF PEQUOT LAKES, <br /> BOND REGISTRAR'S CROW WING COUNTY, MINNESOTA <br /> CERTIFICATE OF <br /> AUTHENTICATION <br /> /s/Facsimile <br /> This Bond is one of the Mayor <br /> Bonds described in the <br /> Resolution mentioned <br /> within. /s/Facsimile <br /> City Clerk <br /> ,Minnesota <br /> Bond Registrar <br /> By <br /> Authorized Signature <br /> 1693357v1 12 <br />