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Please insert social securit or other <br />Y <br />identifying number of assignee <br />PROVISIONS AS TO REGISTRATION <br />The ownership of the principal of and interest on the within Bond has been registered on <br />the books of the Registrar in the name of the person last noted below. <br />Signature of <br />Date of Registration Registered Owner Officer of Re isg tray <br />Cede & Co. <br />Federal ID #13-2555119 <br />3.02. Approving Leal Opinion. The City Administrator is authorized and directed to <br />obtain a copy of the proposed approving legal opinion of Kennedy & Graven, Chartered, <br />Minneapolis, Minnesota, which is to be complete except as to dating thereof and cause the <br />opinion to be printed on or accompany each Bond. <br />Section 4. Payment; Security Pledges and Covenants. <br />4.01. (a) Debt Service Fund. The Bonds are payable from the General Obligation <br />Capital Improvement Plan Bonds, Series 2010A Debt Service Fund (the "Debt Service Fund") <br />hereby created, and the proceeds of ad valorem taxes hereinafter levied (the "Taxes") are hereby <br />pledged to the Debt Service Fund, into which shall be deposited (i) accrued interest paid by the <br />Purchaser, if any, upon closing and delivery of the Bonds; (ii) proceeds of the Taxes herein levied; <br />(iii) any additional funds directed to be deposited by the City Administrator. <br />If the balance in the Debt Service Fund is at any time insufficient to pay all interest and <br />principal then due on the Bonds payable therefrom, the Council covenants and agrees that it will <br />each year levy an amount sufficient to take care of any accumulated or anticipated deficiency, <br />which levy is not subject to any limitation as to rate or amount. <br />(b) Escrow Account. Pursuant to an Escrow Agreement, dated as of April 1, 2010, <br />between the City, the Authority, and the Escrow Agent, proceeds of the Bonds in the amount of <br />set forth therein shall be deposited in the Escrow Account to be maintained by the Escrow Agent <br />to be applied to the defeasance and refunding of the Authority's Series 2002A Bonds and the <br />Authority's Series 2002B Bonds. <br />365125v1 JSB EL185-11 13 <br />