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7. Registration and Transfer. This Note is issuable only as a fully registered note <br />without coupons. As provided in the Resolution, and subject to certain limitations set forth therein, <br />this Note is transferable upon the books of the Authority kept for that purpose at the principal office <br />of the City Finance Director, by the Owner hereof in person or by such Owner's attorney duly <br />authorized in writing, upon surrender of this Note together with a written instrument of transfer <br />satisfactory to the Authority, duly executed by the Owner. Upon such transfer or exchange and the <br />payment by the Owner of any tax, fee, or governmental charge required to be paid by the Authority <br />with respect to such transfer or exchange, there will be issued in the name of the transferee a new <br />Note of the same aggregate principal amount, bearing interest at the same rate and maturing on the <br />same dates. <br />IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions, and things required <br />by the Constitution and laws of the State of Minnesota to be done, to exist, to happen, and to be <br />performed in order to make this Note a valid and binding limited obligation of the Authority <br />according to its terms, have been done, do exist, have happened, and have been performed in due <br />form, time and manner as so required. <br />IN WITNESS WHEREOF, the Board of Commissioners of the Housing and <br />Redevelopment Authority of St. Anthony, Minnesota have caused this Note to be executed with the <br />manual signatures of its Chair and Executive Director, all as of the Date of Original Issue specified <br />above. <br />HOUSING AND REDEVELOPMENT <br />AUTHORITY OF ST. ANTHONY, MINNESOTA <br />Executive Director Chair <br />B-7 <br />623340v3SA730-2 <br />