CC PACKET 05301989 - Laserfiche WebLink

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• HRA until the interest payment or principal and interest payment in default shall have been fully paid. No interest shall be payable on overdue installments of interest . The principal amount of this Note may be prepaid, either in whole or in part, on any date upon payment of the price equal to the principal being so prepaid plus accrued interest to the date of prepayment without premium. As provided in the Resolution, the HRA will cause to be kept at the office of the Executive Director of the HRA a Note Register in which, subject to such reasonable regulations as it may prescribe, the HRA shall provide for the registration or transfer of ownership of this Note. This Note is transferable upon the books of the HRA at the office of the Executive Director by the Registered Owner hereof in person or by its attorney duly authorized in writing, upon surrender hereof together with a written instrument of transfer satisfactory to the Executive Director of the HRA, duly executed by the Registered Owner or its duly authorized attorney, together with ( i) an executed investment letter from the new Registered Owner in the form set forth in the Resolution, ( ii) an opinion of counsel addressed to the HRA and in form satisfactory to the HRA that such transfer complies • with all applicable federal and State of Minnesota securities laws, and ( iii) an indemnity agreement in form and substance satisfactory to the HRA executed by the Registered Owner . Upon such transfer the Executive Director of the HRA will note the date of registration and the name and address of the new Registered Owner upon the books of the HRA and in the registration blank appearing below. Alternatively, the HRA will at the request of the Registered Owner issue new notes in an aggregate principal amount equal to the unpaid principal balance of this Note, and of like tenor, except as to number and principal amount, and registered in the name of the Registered Owner or such transferee as may be designated by the Registered Owner . The HRA may deem and treat the person in whose name this Note is last registered upon the books of the HRA with such registration noted on the Note as the absolute owner hereof for the purpose of receiving payment of or on account of the principal balance, redemption price or interest, whether or not overdue, and for all other purposes , and all such payments so made to the Registered Owner or upon its order shall be valid and effectual to satisfy and discharge the liability upon this Note to the extent of the sum or sums so paid, and the HRA shall not be affected by any notice to the contrary . • -5-