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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 />May 1 , 1997 <br /> <br />(End of Form of Certificate) <br /> <br />349593.1 5 <br /> <br /> <br />