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person who is the Registered Owner hereof as of the Regular <br />Record Date, and shall be payable to the person who is the <br />Registered Owner hereof at the close of business on a date <br />(the "Special Record Date") fixed by the Bond Registrar <br />whenever money becomes available for payment of the defaulted <br />interest. Notice of the Special Record Date shall be given to <br />Registered Owners not less than ten days prior to the Special <br />Record Date. The principal of and premium, if any, and <br />interest on this Bond are payable in lawful money of the <br />United States of America. <br />REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS <br />OF THIS BOND SET FORTH ON THE REVERSE HEREOF, WHICH PROVISIONS <br />SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH <br />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 have happened and to be <br />performed, precedent to and in the issuance of this Bond, have <br />been done, have happened and have been performed in regular <br />and due form, time and manner as required by law, and that <br />this Bond, together with all other indebtedness of the City <br />outstanding on the date of original issue hereof and the date <br />of its actual issuance and delivery to the original purchaser, <br />does not exceed any constitutional or statutory limitation of <br />indebtedness. <br />IN WITNESS WHEREOF, the City of Hugo, Washington <br />County, Minnesota, by its City Council, has caused this Bond <br />to be executed on its behalf by the facsimile signatures of <br />its Mayor and its City Clerk -Treasurer; has caused the <br />corporate seal of the City to be intentionally omitted <br />herefrom, as permitted by law; and has caused this Bond to be <br />executed manually by the Bond Registrar, acting as the City's <br />duly appointed authenticating agent for the Bonds. <br />9 <br />