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<br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF ROSEVILLE <br /> <br />Cornmercial Development Revenue Note of 1984, Series D <br />(Health Resources Roseville Limited Partnership Project) <br /> <br />$900,000 <br /> <br />FOR VALUE RECEIVED the CITY OF ROSEVILLE, Ramsey <br />County, Minnesota (the "City"), hereby promises to pay the <br />FIRST NATIONAL BANK OF MINNEAPOLIS (the "Lender"), its succes- <br />sors or registered assigns (the Lender and any such successor <br />or registered assignee being also sometimes hereinafter <br />referred to as the "Holder"), from the source and in the manner <br />hereinafter provided, the principal sum of NINE HUNDRED <br />THOUSAND DOLLARS ($900,000) or so much thereof as remains un- <br />paid from time to time (the "Principal Balance"), with interest <br />thereon at the rates specified in paragraph l(a) hereof (the <br />"Tax Exempt Rates") or at such higher rate as provided in <br />paragraph l(c) hereof (the "Taxable Rate"), in any coin or <br />currency which at the time or times of payment is legal tender <br />for the payment of public or private debts in the United States <br />of America, in accordance with the terms hereinafter set forth. <br /> <br />1. (a) From and after the date hereof through and <br />including December 1, 1994, interest shall be paid at the rate <br />of % per annum. On the date hereof, the City shall pay as <br />and for additional interest for the period from the date hereof <br />through December 1, 1985 the sum of $27,000. For the period <br />from December 1 in each of years 1994, 1999, 2004, 2009 (the <br />"Adjustment Dates"), through November 30 irmnediately preceeding <br />the next subsequent Adjustment Date, or in the case of interest <br />from December 1, 2009 to December 1, 2014 (the "Final Maturity <br />Date"), interest shall accrue at an annual rate which will in <br />the written opinion of the Lender (or successor Holder) <br />delivered to the City within one week of the Adjustment Date, <br />al10w the Note to be marketed on the Adjustment Date at par <br />subject to the limitation that such annual rate shall be not <br />less than 100% nor more than 135% of the yield to maturity <br />stated in the "25 Rev. Bonds Index" appearing in the Credit <br />Markets (or successor publication) for the last week <br />immediately preceeding the Adjustment Date. <br /> <br />8 <br />