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THIS BOND MAY NOT BE TRANSFERRED OR ASSIGNED, IN <br /> WHOLE OR IN PART, BY THE REDEVELOPER WITHOUT THE PRIOR WRITTEN <br /> CONSENT OF THE HRA; PROVIDED THAT THE REDEVELOPER MAY PLEDGE <br /> THIS BOND AND THE PAYMENTS HEREUNDER TO A LENDER FOR THE <br /> PROJECT, AS DEFINED IN THE REDEVELOPMENT AGREEMENT, IF PRIOR <br /> WRITTEN NOTICE OF SUCH ASSIGNMENT IS GIVEN TO THE HRA AND THE <br /> LENDER DELIVERS TO THE HRA AN INSTRUMENT EXECUTED BY SUCH <br /> LENDER ACKNOWLEDGING THAT IT HAS REVIEWED THE TERMS OF THE <br /> BOND, THAT IT HAS SUFFICIENT KNOWLEDGE AND EXPERIENCE TO <br /> EVALUATE THE ABILITY OF PAYMENTS TO BE MADE BY THE HRA UNDER <br /> THIS BOND, THAT IT HAS ALL FINANCIAL AND OTHER INFORMATION IT <br /> HAS REQUESTED REGARDING THE DISTRICT AND THE TAX INCREMENT, <br /> THAT THE BOND IS PAYABLE SOLELY FROM AVAILABLE TAX INCREMENT <br /> AS PROVIDED HEREIN AND THAT THE HRA IS NOT MAKING ANY <br /> REPRESENTATIONS AND WARRANTIES AS TO THE SUFFICIENCY OF <br /> AVAILABLE TAX INCREMENT TO PAY THE BOND. <br /> IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED <br /> that all acts, conditions and things required by the Constitution and laws of the State <br /> of Minnesota to be done, to exist, to happen and to be performed precedent to and in <br /> the issuance of this Bond in order to make it a valid and binding limited obligation <br /> of the HRA according to its terms have been done, do exist, have happened and <br /> have been performed in regular and due form as so required. <br /> IN WITNESS WHEREOF, the Housin g and Redevelopment Authority <br /> of St. Anthony, Hennepin and Ramsey Counties, State of Minnesota, by its Board of <br /> Commissioners, has caused this Bond to be executed by the signatures of its <br /> Chairman and Secretary and has caused this Bond to be dated as of the date set forth <br /> below. <br /> Dated: July 27, 1993 <br /> Secretary Chairman <br /> C-3 <br />