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UNITED STATES OF AMERICA • <br /> STATE OF MINNESOTA <br /> COUNTIES OF HENNEPIN AND RAMSEY <br /> HOUSING AND REDEVELOPMENT AUTHORITY OF ST. ANTHONY <br /> TAX INCREMENT REVENUE NOTE <br /> (EVERGREEN TOWNHOMES) <br /> SERIES 1989 <br /> No . <br /> Date of <br /> Rate Maturity Original Issue <br /> 12 . 00% June 1, 2001 1,' 1989 <br /> THE HOUSING AND REDEVELOPMENT AUTHORITY OF ST. <br /> ANTHONY, Hennepin and Ramsey Counties, Minnesota (the HRA) , <br /> acknowledges itself to be indebted and, for value received, <br /> hereby promises to pay to Al or <br /> registered assigns (the "Registered Owner" ) , the principal <br /> amount specif-ied above, or- so much thereof as has been advanced <br /> hereunder from time to time, on the maturity date specified <br /> above, with interest thereon from the date hereof at the annual • <br /> rate specified above, payable on January 1 in each year, <br /> commencing January 11 1993 and on the final maturity date of <br /> this Note, all subject to the provisions referred to herein <br /> with respect to the redemption of the principal of this Note <br /> before maturity. The interest, hereon and the principal hereof-, <br /> are payable in lawful money of the United States of America, by <br /> check or draft of the HRA. <br /> This Note is issued pursuant to a resolution adopted <br /> by the Board of Commissioners on , 1989 (the <br /> "Resolution" ) to pay the capital costs of a redevelopment <br /> project to be undertaken in Tax Increment Financing District <br /> No. 2 Ramsey County (the "District" ) of the HRA, and is issued <br /> pursuant -to and in full conformity with the provisions of the <br /> Constitution and laws of the State of Minnesota thereunto <br /> enabling, including Minnesota Statutes, Section 469 . 041, <br /> Section 469 . 178 and Chapter 475 . This Note is payable solely <br /> from tax increments to be derived from the District (the "Tax <br /> Increment" ) which have been pledged to the payment of this Note <br /> by the Resolution. <br /> The Tax Increment received by the HRA will be <br /> deposited by the HRA in the Bond Fund established by the <br /> Resolution (the "Bond Fund" ) . Tax Increment on deposit in the <br /> Bond Fund shall be applied first to pay or reimburse the City <br /> • <br /> -3- <br />