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