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<br />This Note may be assigned only as provided in Section 5.3 of the TIF Assistance <br />Agreement and subject to the assignee executing and delivering to the City the Acknowledgment <br />Regarding TIF Note in the form included in Exhibit 2 attached hereto. Additionally, in order to <br />assign the Note, the assignee shall surrender the same to the City either in exchange for a new fully <br />registered note or for transfer of this Note on the registration records maintained by the City for <br />the Note. Each permitted assignee shall take this Note subject to the foregoing conditions and <br />subject to all provisions stated or referenced herein. <br />IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions, and things required <br />by the Constitution and laws of the State of Minnesota to be done, to have happened, and to be <br />performed precedent to and in the issuance of this Note have been done, have happened, and have <br />been performed in regular and due form, time, and manner as required by law; and that this Note, <br />together with all other indebtedness of the City outstanding on the date hereof and on the date of <br />its actual issuance and delivery, does not cause the indebtedness of the City to exceed any <br />constitutional or statutory limitation thereon. <br />D-3 <br />EL185-50-718703.v2 <br /> <br />