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The Scheduled Payment of this Note due on any Scheduled Payment Date is payable solely from and only to the extent that the City shall have received in the six (6) month period • preceding such Scheduled Payment Date "Multifamily Available Tax Increment" and/or "Multifamily Supplemental Available Tax Increment". For purposes of this Note, Multifamily Available Tax Increment and Multifamily Supplemental Available Tax Increment with respect to any Scheduled Payment Date shall have the meaning set forth in the Agreement and shall be referred to collectively in this Note as "Available Tax Increment". Available Tax Increment constitutes all or a portion of the tax increment generated in the calendar year of the Scheduled Payment Date with respect to that certain real property described on the attached Exhibit A (hereinafter referred to as the "Property"). The City shall pay on each Scheduled Payment Date to the Owner, the Available Tax Increment received by the City in the six (6) month period preceding such Scheduled Payment Date. To the extent that on the Maturity Date (as defined in the Agreement) after making any Scheduled Payment to be made on such date, the City has not paid the entire Principal Amount and interest due under this Note, this Note shall nonetheless terminate and the City shall have no further obligations hereunder. All payments made by the City under this Note shall be first applied to accrued interest and then to the Principal Amount. The City's obligations herein are subject to the terms and conditions of the Agreement. The City's payment obligations hereunder may be suspended pursuant to Section 9.2 of the Agreement. If the City suspends its performance of its obligation to make payments due under this Note, the City shall make the suspended payments to the Owner within five (5) business days following the cure of the Event of Default (as defined in the Agreement). The City is not obligated to invest any amounts the City retains as a result of the City's suspension of its performance of its obligation to make payments under this Note, and is not obligated to pay Owner interest on the amount of the suspended payments between the date the payment is suspended and the date the City makes the suspended payment to the Multifamily Developer. . This Note shall not be payable from or constitute a charge upon any funds of the City, and the City shall not be subject to any liability hereon or be deemed to have obligated itself to pay hereon from any funds except Available Tax Increment, and then only to the extent and in the manner herein specified. The Owner shall never have or be deemed to have the right to compel any exercise of any taxing power of the City or of any other public body, and neither the City nor any director, commissioner, council member, board member, officer, employee or agent of the City, nor any person executing or registering this Note shall be liable personally hereon by reason of the issuance or registration hereof or otherwise. This Note shall not be transferable or assignable, in whole or in part, by the Owner without the prior written consent of the City. The City hereby consents to the assignment of this Note to the First Mortgage Lender and HUD (as such terms are defined in the Agreement). This Note is issued pursuant to action by the Falcon Heights City Council at its January 7, 2004 meeting. IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions, and things required by the Constitution and laws of the State of Minnesota to be done, to have happened, •