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IN WITNESS WHEREOF, the City of Elk River, Sherburne County, <br />Minnesota, by its City Council, has caused this Certificate to be <br />executed by the manual signatures of its Mayor and City <br />Administrator; has caused the official seal of the City to be <br />impressed upon this Certificate; and has caused this Certificate to <br />be dated November 26, 1996. <br /> <br />City Administrator <br /> <br />Mayor <br /> <br />CERTIFICATE OF REGISTRATION <br /> <br /> It is hereby certified that the foregoing Certificate was as <br />of the latest date specified below registered in the name of the <br />last Registered Owner noted below and that, at the request of said <br />Registered Owner of this Certificate, the undersigned City Finance <br />Director has as of said applicable date registered the Certificate <br />as to principal and interest in the name of such Registered Owner, <br />as indicated in the registration blank below, on the books kept by <br />the undersigned for such purposes. <br /> <br />NAME OF REGISTERED OWNER <br /> <br />The Bank of Elk <br />River <br /> <br /> DATE OF <br />REGISTRATION <br /> <br />SIGNATURE OF CITY <br />FINANCE DIRECTOR <br /> <br />, 1996 <br /> <br />(End of Form of Certificate) <br /> <br />336657.1 5 <br /> <br /> <br />