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<br />Exhibit A <br /> <br />(Form of Note) <br /> <br />No. R-l <br /> <br />$2,500,000 <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />Commercial Development Revenue Note of 1985 <br />(Rush Lake Road Project, Phase II) <br /> <br />The City of New Brighton, Minnesota (the "City"), hereby <br />acknowledges itself to be indebted and, for value received, <br />promises to pay to First Southdale National Bank of Edina, <br />in Edina, Minnesota, or to its successors or registered <br />assigns (the "Lender" or "Registered Owner"), from the <br />source and in the manner hereinafter provided, the principal <br />amount of TWO MILLION FIVE HUNDRED THOUSAND DOLLARS <br />($2,500,000) on the dates and in the principal amounts <br />hereinafter provided, and the City further promises to pay <br />to the Lender interest from the date hereof on the outstand- <br />ing portion of the pr incipal amount hereof (the "Principal <br />Balance"), until the same is paid, at the rate or rates of <br />interest determined as hereinafter provided. <br /> <br />Each capitalized but undefined term which appears in <br />this Note has the same meaning given to such term in the <br />Loan Agreement, dated as of December 1, 1985 (the "Agree- <br />ment"), between the City and Edwin J. Taylor (the "Bor- <br />rower") and executed in connection with the issuances of the <br />Note. <br /> <br />All payments due on this Note, except the Addi tional <br />Interest (as defined below) are payable on the first day of <br />each month, commencing , (the "Payment <br />Dates"), at the offices of the Lender ~ at such other <br />place or places as the Lender may specify to the City and <br />the Borrower in writing from time to time, in any coin or <br />currency of the United States of America which on the date <br />of payment thereof is legal tender for public and private <br />debts. <br /> <br />From the date hereof through the Conversion Date, inter- <br />est only shall be paid. In addition to the abovementioned <br />interest, dur ing the per iod commencing on the date hereof <br />and ending on the Conversion Date, this Note shall bear <br />addi tional interest in the amount of $l8, 900 (the "Addi- <br />tional Interest"), which Addi tional Interest shall be pay- <br />able to the Lender on the date of issuance and delivery <br />hereof. <br /> <br />p._ - 1 <br />