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Name and Address: (Include information for all joint owners if this Bond is held by joint account.) Please insert social security or other identifying number of assignee PROVISIONS AS TO REGISTRATION The ownership of the principal of and interest on the within Bond has been registered on the books of the Registrar in the name of the person last noted below. Signature of City Finance Director Date of Registration Re¡;ristered Owner Kray & Co. Federal ID *36-6047271 3.02. The City Manager is directed to obtain a copy of the proposed approving legal opinion of Holmes & Graven Chartered, Minneapolis, Minnesota, which is to be complete except as to dating thereof and to cause the opinion to be attached to or accompany each Bond together with a certificate to be signed by the facsimile signature of the Manager in substantially the form set forth in the form of Bond. The Manager is authorized and directed to execute such certificate in the name of the City upon receipt of such opinion and to file the opinion in the City offices. Section 4. Payment; Security; Pled£es and Covenants. 4.01. The Bonds are payable from the Improvement Bonds, Series 20 Debt Service Fund (Debt Service Fund) hereby created, and the proceeds of general taxes hereinafter levied (Taxes), and special assessments <Assessments) levied or to be levied for the improvements (Improvements) financed by the Bonds are hereby pledged to the Debt Service Fund. If any payment of principal or interest on the Bonds will become due when there is not sufficient money in the Debt Service Fund to pay the same, the Finance Director is directed to pay such principal or interest from the general fund of the City, and the general fund will be reimbursed for such advan~es out of the proceeds of Assessments and Taxes when collected. There is appropriated to the Debt Service Fund all capitalized interest financed from Bond proceeds, if any, any amount over the minimum purchase price paid by the Purchaser and the accrued interest paid by the Purchaser upon closing and delivery of the Bonds. 4.02. 'It is hereby determined that the Improvements to be financed by the Bonds will directly and indirectly benefit abutting property, and the City hereby covenants with the holders from time to time of the Bonds as follows: D.7Jt63'" U200·13 9