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not so timely paid shall cease to be payable to the person who is <br />the Holder hereof as of the Regular Record Date, and shall be <br />payable to the person who is the Holder hereof at the close of <br />business on a date (the "Special Record Date") fixed by the Bond <br />Registrar whenever money becomes available for payment of the <br />defaulted interest. Notice of the Special Record Date shall be <br />given to Bondholders not less than ten days prior to the Special <br />Record Date. The principal of and premium, if any, and interest <br />on this Bond are payable in lawful money of the United States of <br />America. <br />REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF <br />THIS BOND SET FORTH ON THE REVERSE HEREOF, WHICH PROVISIONS SHALL <br />FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH HERE. <br />IT IS HEREBY CERTIFIED AND RECITED that all acts, <br />conditions and things required by the Constitution and laws of <br />the State of Minnesota to be done, to happen and to be performed, <br />precedent to and in the issuance of this Bond, have been done, <br />have happened and have been performed, in regular and due form, <br />time and manner as required by law, and this Bond, together with <br />all other debts of the Issuer outstanding on the date of original <br />issue hereof and on the date of its issuance and delivery to the <br />original purchaser, does not exceed any constitutional or <br />statutory limitation of indebtedness. <br />IN WITNESS WHEREOF, <br />County, Minnesota, by its City <br />sealed with its official seal <br />executed on its behalf by the <br />its Mayor and attested by the <br />its Clerk -Treasurer. <br />11676 <br />the City of Hugo, Washington <br />Council has caused this Bond to be <br />or a facsimile thereof and to be <br />original or facsimile signature of <br />original or facsimile signature of <br />23 <br />