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172981796v3 <br /> <br /> <br /> S-1 <br /> <br />IN WITNESS WHEREOF, the City and the Lender have caused this Pledge Agreement to <br />be duly executed as of the day and year first above written. <br />CITY OF HUGO, MINNESOTA <br /> <br /> <br />By______________________________ <br /> Its Mayor <br /> <br />By______________________________ <br /> Its City Administrator <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Signature page to Pledge Agreement <br />