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• <br /> • <br /> This Note may be assigned but upon such assignment the <br /> assignor shall promptly notify the City Clerk-Administrator at the <br /> Mounds View City offices by registered mail, and the assignee shall <br /> surrender 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 such assignee <br /> shall take this Note subject to the foregoing condition and subject <br /> to all provisions stated or referenced herein. <br /> The City has elected to issue this Note as a non-tax exempt <br /> - _ - - - _ - _ _ _ _ _ - • - - . ._ - _ - - - . <br /> this Note is or will be generally exempt from federal or state <br /> income taxes, and the City makes no representation or covenant with <br /> respect to any such exemption. <br /> IN WITNESS WHEREOF, the City of Mounds View, Minnesota, has <br /> caused this Note to be executed by the manual signatures of its <br /> Mayor and its City Clerk-Administrator; has caused the official <br /> seal of the City to be omitted from this Note; and has caused this <br /> Note to be issued ear and dated <br /> 1991. :................ <br /> • <br /> City Clerk-Administrator Mayor <br /> • <br /> S 22309 <br /> 4 <br />