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FROM BRIGGS MORGAN SP (FRI >04.17.'922 10:38 <br />N0.9 PAGE 24 <br />payment of the principal of or interest on this Note and no <br />property or other asset of the City, save and except the <br />above - referenced Tax Increments, is or shall be a source of <br />payment of the city's obligations hereunder. <br />This Note is issued by the City in aid of financing a <br />project pursuant to and in full conformity with the Constitution <br />and laws of the State of Minnesota, including the Tax Increment <br />Act. <br />In order to assign the Note, the assignee shall surrender <br />the same to the City either in exchange for a new fully <br />registered note or for transfer of this Note on the registration <br />records for the Note maintained by the City. Each assignee shall <br />take this Note subject to the foregoing conditions and subject to <br />all provisions stated or referenced herein. <br />IT IS HEREBY CERTIFIED AND RECITED that all acts, condi- <br />tions, and things required by the Constitution and laws of the <br />State of Minnesota to be done, to have happened, and to be <br />performed precedent to and in the issuance of this Note have been <br />done, have happened, and have been performed in regular and due <br />form, time, and manner as required by law; and that this Note, <br />together with all other indebtedness of the City outstanding on <br />the date hereof and on the date of its actual issuance and <br />delivery, does not cause the indebtedness of the City to exceed <br />any constitutional, statutory or charter limitation thereon. <br />IN WITNESS WHEREOF, City of Little Canada, Minnesota, by its <br />City Council, has caused this Note to be executed by the manual <br />signatures of its Mayor and City Administrator and has caused <br />this Note to be issued on and dated , 199_. <br />City Administrator Mayor <br />214192 <br />c -3 <br />Page 49 <br />