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address appearing thereon at the close of business on the <br />fifteenth day of the calendar month next preceding such <br />Interest Payment Date (the "Regular Record Date "). Any <br />interest not so timely paid shall cease to be payable to the <br />person who is the Holder hereof as of the Regular Record Date, <br />and shall be payable to the person who is the Holder hereof at <br />the close of business on a date (the "Special Record Date ") <br />fixed by the Bond Registrar whenever money becomes available <br />for payment of the defaulted interest. Notice of the Special <br />Record Date shall be given to Bondholders not less than ten <br />days prior to the Special Record Date. The principal of and <br />premium, if any, and interest on this Bond are payable in <br />lawful money of the United States of America. <br />REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF <br />THIS BOND SET FORTH ON THE REVERSE HEREOF, WHICH PROVISIONS <br />SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH <br />HERE. <br />IT IS HEREBY CERTIFIED AND RECITED that all acts, <br />conditions and things required by the Constitution and laws of <br />the State of Minnesota to be done, to happen and to be <br />performed, precedent to and in the issuance of this Bond, have <br />been done, have happened and have been performed, in regular <br />and due form, time and manner as required by law, and this <br />Bond, together with all other debts of the Issuer outstanding <br />on the date of original issue hereof and the date of its <br />issuance and delivery to the original purchaser does not exceed <br />any constitutional or statutory limitation of indebtedness. <br />IN WITNESS WHEREOF, the City of Lino Lakes, Anoka <br />County, Minnesota, by its City Council has caused this Bond to <br />be executed in its behalf by the facsimile signatures of the <br />Mayor and the City Clerk, the corporate seal of the Issuer <br />having been intentionally omitted as permitted by law. <br />6 <br />