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This Note shall not be transferable or assignable, in whole or in part, by the Owner <br /> without the prior written consent of the Authority. <br /> This Note is issued pursuant to Resolution of the Authority and is entitled to the <br /> benefits thereof, which resolution is incorporated herein by reference. <br /> IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions, and things <br /> required by the Constitution and laws of the State of Minnesota to be done, to have happened, <br /> and to be performed precedent to and in the issuance of this Note have been done, have <br /> happened, and have been performed in regular and due form, time, and manner as required by law; <br /> and that this Note, together with all other indebtedness of the Authority outstanding on the date <br /> hereof and on the date of its actual issuance and delivery, does not cause the indebtedness of the <br /> Authority to exceed any constitutional or statutory limitation thereon. <br /> IN WITNESS WHEREOF, the Economic Development Authority In and For the City of <br /> Elk River, by its Commissioners, has caused this Note to be executed by the manual signatures of <br /> the President and the Vice President of the Authority and has caused this Note to be dated <br /> , 199_. <br /> Henry A. Duitsman, President Patrick Dwyer, Vice President <br /> • <br /> B-3 <br />