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hxterest o~~ the Note it~el~des a~~~ar~~~t treated ~y tl~e N~~F as service fees. ~u~-~~~ off, Tire proceeds of the Nate ~~~~~ pra~ride f~~~~ds to ~~~a~~ce ca~~str~~ctia~~ of the ~~a~ ect. The ta~ai cost of the ca~~structia~~ of the ~ro~eat, zn~~di~~~ ~e~i aid at~~er ~raf~ia~aal charges, ~~~iicatio~~ ~~ ~ri~~t~~~ cots, interest accr~~it~~ o~~ ~~ae~ ~arro~~ed far t~~e ~raject befare the ~ai~ectia aff~~tre ~~;~ici~~a~ State-,~d Street f~~~~s aprapriated t~~erefar, a~~d ali other casts ~eceari~~ i~.curred a~~c to be i~~c~~~f~. fxo~~~ the ~~~aept~a~~ to the a~~~p~etiax~ afthe Project i eti~~~ated to ~e at feast eq~~ai to the ~.~eate ~ri~~ai~a~ a~~~a~~~t of the Nape, ~~~e pity ca~ena~~ts that it sh~l~ da a~i ~~~~~ ~~,~ perfarr alb acts re~~~ired of it to ass~~re that ~var~~ a~a the ~raject proceeds v~rith d~~e dil~~e~~ce to aa~7~ietia~~ and that ar~~ ~.~~~ ali pe~~~~its a~~d st~~dies req~~ired ~~~~.e~- la~~ f~~- the ~raject are abtaied. the a~rera~e a~~~a~ ~~~o~~t of ~~ri~~cipai a~~d i.~~ter eat d~~e ~~~ aii s~~hse~uet~t ca~e~~dar dears a the Nate payable ~`~"arr~ t~~e its' acca«~~ of the ~~~~~icipal State~~~d Street ~~~~~~ ~ ~ does ~~at exceed r~i~~et~ perce~~t of tl~e .~~a~~~~t of the last a~uai aliat~ne~~t precedi~~~ the iss~~a~~ce of the Note received ~y the ~it~ f~ra~ the o~~structia~~ ~cca~~~~t afthe ~~~icipal tte~id~ Street r~~~d ~ ~. .e~~~~~ptia., The Nate shall be ubj ect to rede~.~ptia~~ and prepay~~~e~~t i~~ ~~hole ar in part at the option ofthe ~~~~ ar ~~~a~acatarii~ ~ ~~"a~vted in tea P~ajact ~a~~ A~~aet~~er~t. ~f rede~~~ptia~~ ~ i~7 ~~art, i~~stall~~~e~~ts ofpri~~a~pa~ payable last ~~~~der the Nate shall be Prepaid first, ~~~~less the pity a~~d tine ~~o~cler of the Nate agree to ~. differe~~ ~ es~~~t, . ~itr~~~o~~ ~` ~I~~, ~t the ti~~~e of isr~anae and delivery of the Nate, the c~f~cer of t~~e pity perfa~-~~~i~~ the f~.~~ctio~~s of the trea~~rer the "~'i~~aa~ce irecto~"f'~ ~~ ~e~i~er the Nate i~~ the ~~~~~~ of the payee ~~~ a ~~ate register ~~rl~ich he ~d his s~~ccessars in office shall ~~~ai~~tai~~ far the p~~t~ase of ~"e~ter~~~ the o~~~~ershil~ of the Nate. lie Note shai~ be prepared fax e~ee~~tia~~ ~~ith ~~ apprariate test ~~~ spaces far ~~atatia~~ afr~istratia~~. ~'he force ~~~~ e.ffeet of such ~~e~xstrtxa~~ shall be as stated ~~ the fa~~~ afNc~te herei~~after set forth Payn~e~~t of pri~~cial i~~sta~l~~e~~t ~~~ i~~terest, 4~hether ~~pa~~ rede~~~tior~ a~ athe~~~ise, ~~~ade ~vith respect to tl~e Nate, ~~~~ he ~~~de to the ~`e~iste~'ed holder thereafar to tl~e holder's Ie~al rep~"ese~~tat~ve, ~~~ti~o~~t prese~~tatia~~ or s~~~~ ender of the Nato. ~'aI`~~1 of Nate. ~"he Note, t~~~the~' ~v~~h the ert~ficate of ~e~~st~"at~al~ ~.t~aChed t~~ereta, sl~all be ~~~ ~xbsta~~tiali}r the faila~~in~ fa~-~: ~JNIT~~ ST~T~S F ~~A ~~~ ~~T~ ~'l~e pity of ~~~ diver, Sherburne a~~ty, i~nr~esota the "pity"}, certifies that it i i~adebted a~~d for ~~alr~e received pra~.~ises to paY to tl~e N~ir~~esota. ~'~.~l~lic 'aci~itie ,~utharity ar the ~~e~istefed asi~~, the la~-i~~cipi ~~~~~ af~""~ ~~~~~~N ~~ ~~~ ~"~~~"~ DNS ~'~~JS,ND ~'~'~ ~~~ ~O~A~.S, ar sa ~~~~~ch thereof a sl1a~i ha~re bee~~ d~b~~red, ors A~x~~ist ~a i~~ tl~e years ,~~~ i~~stall~~~ent as folla~v: ? l 70~at)f~v 1