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. . . exist, to happen, and to be performed precedent to and in the issuance of this Bond, in order to make it a valid and binding general obligation of the Issuer in accordance with its terms, have been done, do exist, have happened, and have been performed in regular and due form, time, and manner as so required; that the Bonds are payable from a separate debt service account of the Issuer, from tax increments resulting from increases in assessed valuation of real property within Tax Increment Financing District No. 1 (the District) in the City of Elk River, Minnesota, and ad valorem taxes which have been appropriated to such account; that, if necessary for payment of principal and of interest on the bonds of this issue, additional ad valorem taxes may be levied upon all taxable property within the corporate limits of the Issuer without limitation as to rate or amount; and that the issuance of this Bond does not cause the indebtedness of the Issuer to exceed any constitutional or statutory limitation. ADDITIONAL PROVISIONS OF THIS BOND ARE CONTAINED ON THE REVERSE HEREOF AND SUCH PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS THOUGH FULLY SET FORTH IN THIS PLACE. This Bond shall not be valid or become obligatory for any purpose or be entitled to any security or benefit under the resolution authorizing its issuance (the Resolution) until the Certificate of Authentication hereon shall have been executed by the Registrar by manual signature of one of its authorized representatives. IN WITNESS WHEREOF, the Issuer by its City Council has caused this Bond to be executed on its behalf by the facsimile signatures of the Mayor and the City Clerk-Administrator and has caused this Bond to be dated as of the date set forth below. CITY OF ELK RIVER, MINNESOTA Dated: Mayor ATTEST: City Clerk-Administrator 10.