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<br /> ------------- <br />ISi, .. <br /> EXHIBIT A .' <br /> PromissorY Note I <br /> $300,000.00 <br />FOR VALUE RECEIVED, the undersigned (Developer) promises to pay to the order of the I <br />City at 1450 West Highw'ay 96, Arden Hills, lvlinnesota 55112 or at such other place as the I <br />holder shall designate, the principal sum of Three Hundred Thousand Dollars and No Cents <br />($300,000.00) with interest at the rate of three percent (3%) per annum. The principal balance <br />and accrued interest shall become due and payable or forgiven in accordance with Article 5 of . <br />this Agreement. <br />Principal and interest shall be paid directly to the City or at such other place as the legal holder of . <br />this Promissory Note may designate in \\Titing and payments, when made, shall be first applied <br />against accrued but unpaid interest and then principal. <br />The Developer guarantees payment hereof and waives demand, presentment, protest, notice of . <br />protest, and notice of dishonor, and exonerates the City hereof from all duty and obligations to <br />make demand for payment or delivery of any collateral now or hereafter securing this Promissory . <br />Note, and agrees in the event of default to pay all costs of collection, including reasonable <br />attorney's fees. <br />The undersigned is hereby granted the right, option and privilege of prepaying any part or all of .. <br />the indebtedness evidenced by this Promissory Note at any time without penalty. <br /> I <br />1. . I"~ I <br />"-}""G(,VIV~~ ~ -K./lt ' DEUE~ 2 '. <br />Subscribed and sworn to before <br />me, a Notary Public, On this I <br />? <, ~ day of 1) 0" ".....l....c<..- Bv W c..... , <br />19 ci (, , My Commission expires On . r <br /> Position U \ "'-">c..fo..--\'- Ii,: ,) It:.,.i, <br /> \-31'--;loQ ,. . <br />County of fi/1.~~ . <br /> JEANINE K. 6IoIITH . <br /> 1ICT_1'IaJC-_ <br /> NCAA COUNTY <br /> tlfCllOAL__ <br /> . <br /> .. <br /> I <br />