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2000-11-08 Packet
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2000-11-08 Packet
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EXHIBIT A <br /> FORM OF AMENDED NOTE 2 <br /> UNITED STATES OF AMERICA <br /> STATE OF MINNESOTA <br /> COUNTY OF ANOKA <br /> No. R -1 $114,051.19 <br /> AMENDED AND RESTATED <br /> TAX INCREMENT REVENUE NOTE <br /> SERIES 1995B <br /> Date <br /> Rate of Original Issue <br /> 8.50% November 1, 1995 <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 /> 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 /> Available Tax Increment as hereinafter defined. Payments shall be applied first to accrued <br /> interest, and then to unpaid principal. <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 /> 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 I, 2000. <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 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"); provided <br /> SJB- 184817v2 <br /> CE155 -7 A-1 <br />
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