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--� <br />This Note is issued by the City in aid of financing a project pursuant to and in full <br />conformity with the Constitution and laws of the State of Minnesota, including the Tax <br />Increment Act. <br />This Note may be assigned only with the consent of the City. In order to assign the <br />Note, the assignee shall surrender the same to the City either in exchange for a new fully <br />registered note or for transfer of this Note on the registration records for the Note maintained <br />by the City. Each permitted assignee shall take this Note subject to the foregoing conditions <br />and subject to all provisions stated or referenced herein. <br />IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions, and things <br />required by the Constitution and laws of the Sta.te of Minnesota to be done, to have <br />happened, and to be performed precedent to and in the issuance of this Note have been done, <br />have happened, and have been performed in regular and due form, time, and manner as <br />required by law; and ihat this Note, together with all other indebtedness of the City <br />outstanding on the date hereof and on the date of its acival issuance and delivery, does not <br />cause the indebtedness of the City to exceed any constituiional or statutory limitation <br />thereon. <br />IN WITNESS WHEREOF, City ofPequotLakes, Minnesota, by its City Council, has -� <br />caused this Note to be executed by the manual signatures of its Mayor and City Clerk and <br />has caused this Note to be dated as of , . <br />City Clerk Mayor <br />` <br />ios�oao.3 C-3 <br />