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SCHEDULE G <br />TO DEVELOPMENT AGREEMENT BETWEEN <br />THE CITY OF FALCON HEIGHTS AND <br />FALCON HEIGHTS TOWN SQUARE LIMITED PARTNERSHIP <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF FALCON HEIGHTS <br />TAXABLE TAX INCREMENT REVENUE NOTE <br />(FALCON HEIGHTS TOWN SQUARE PROJECT-MULTIFAMILY TIF NOTE) <br />The City of Falcon Heights, Minnesota (the "City"), hereby acknowledges itself to be <br />indebted and, for value received, promises to pay to the order of Falcon Heights Town Square <br />Limited Partnership, a Minnesota limited partnership, or its permitted assigns (the "Owner"), <br />solely from the source, to the extent and in the manner hereinafter provided, the principal amount <br />of this Note, being Dollars ($ .00) <br />(the "Principal Amount"), together with interest thereon at the rate of percent <br />(_%) per annum (the "Rate"). Interest shall begin to accrue on the unpaid principal amount of <br />this Note on January 1, 2005. The amounts due under this Note are payable on June 30 and <br />December 31 of each year commencing on June 30, 2006, and continuing to and including <br />December 31, 2031 (the "Scheduled Payment Dates"). This Note is the note referred to as the <br />Multifamily TIF Note in that certain Amended and Restated Development Agreement dated as <br />of ,between the City and the Owner (the "Agreement"). <br />Each payment on this Note is payable in any coin or currency of the United States of <br />America which on the date of such payment is legal tender for public and private debts and shall <br />be made by check or draft made payable to the Owner and mailed to the Owner at its postal <br />address within the United States which shall be designated from time to time by the Owner. <br />The Note is a special and limited obligation and not a general obligation of the City, <br />which has been issued by the City pursuant to and in full conformity with the Constitution and <br />laws of the State of Minnesota, including Minnesota Statutes, Section 469.178, subdivision 4, to <br />aid in financing a "project", as therein defined, of the City consisting generally of defraying <br />certain capital and administrative costs incurred and to be incurred by the City within and for the <br />benefit of its Municipal Development District No. 1 (the "Project"). <br />THIS NOTE IS SPECIAL AND LIMITED AND NOT A GENERAL <br />OBLIGATION OF THE CITY PAYABLE SOLELY OUT OF AVAILABLE TAX <br />INCREMENT, AS DEFINED BELOW, AND NEITHER THE STATE NOR ANY <br />POLITICAL SUBDIVISION THEREOF SHALL BE LIABLE ON THIS NOTE, NOR <br />• <br />/~ S <br />