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2000-11-08 CC
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2000-11-08 CC
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<br />. <br /> <br />EXHIBIT A <br /> <br />FORM OF AMENDED NOTE 2 <br /> <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />COUNTY OF ANOKA <br /> <br />No. R-1 <br /> <br />$114,051.19 <br /> <br />AMENDED AND REST A TED <br />T AX INCREMENT REVENUE NOTE <br />SERIES 1995B <br /> <br />Rate <br /> <br />Date <br />of Original Issue <br /> <br />8.50% <br /> <br />November 1, 1995 <br /> <br />The City of Centerville, Minnesota (the "City"), for value received, certifies that it is <br />indebted and hereby promises to pay to Northern Forest Products, L.L.c., or registered assigns <br />(the "Owner"), the principal sum of $114,051.19 and to pay interest thereon at the rate of 8.50% <br />per annum, as and to the extent set forth herein. <br /> <br />1. Payments. Principal and interest shall be paid in installments on September <br />November 15, 2000 and on each February 1 and August thereafter to and including February 1, <br />2006 ("Payment Dates"), which payments will be made in the amount of and solely from <br />A vail able Tax Increment as hereinafter defined. Payments shall be applied first to accrued <br />interest, and then to unpaid principal. <br /> <br />Payments are payable by mail to the address of the Owner or such other address as the <br />Owner may designate upon 30 days written notice to the City. Payments on this Note are <br />payable in any coin or currency of the United Sates of America which, on the Payment Date, is <br />legal tender for the payment of public and private debts. <br /> <br />2. Interest. Interest at the rate stated herein shall accrue on the unpaid principal, <br />commencing on the date of original issue. Interest shall be computed on the basis of a year of <br />360 days and charged for actual days principal is unpaid. Unpaid interest shall be added to <br />principal semi-annually on each February 1 and August 1 through August 1, 2000. <br /> <br />3. Available Tax Increment. Payments on this Note are payable solely from <br />"Available Tax Increment," which means: <br /> <br />(a) on the September November 15, 2000 Payment Date, 100 percent of the Tax <br />Increment generated from the Property that was received by the City as of that Payment Date and <br />not applied to any prior payment of this Note (before or after amendment thereof) or any prior <br />payment of the City's $32,250 Tax Increment Revenue Note, Series 1995A ("Note 1 If); provided <br />SJB-184817v2 <br /> <br />CE155-7 <br /> <br />A-I <br />
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