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<br />Exhibit A <br /> <br />(Form of Note) <br /> <br />No. R-1 <br /> <br />$1,700,000 <br /> <br />STATE OF MINNESOTA <br />COUNTY OF ANOKA <br />CITY OF NEW BRIGHTON <br /> <br />Commercial Development Revenue Note <br />(Paschke Project) <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 Bank Robbinsdale, National Asso- <br />ciation, in Robbinsdale, Minnesota, or to its successors or <br />registered assigns (the "Lender" or "Registered Owner"), <br />from the source and in the manner hereinafter provided, the <br />principal amount of SEVEN HUNDRED TWENTY THOUSAND DOLLARS <br />($1,700,000) 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 "pr incipal <br />Balance"), until the same is paid, at the rate of ten and <br />fifty hundredths percent (10.50%) per annum (the "Ini tial <br />Interest Rate"), or at such other rate or rates of interest <br />determined as hereinafter provided. <br /> <br />All payments due on this Note are payable on the first <br />day of each month, commencing August l, 1985 (the "Payment <br />Dates"), at the offices of the Lender, or at such other <br />place or places as the Lender may specify to the City and <br />the Borrower (hereinafter defined) in writing from time to <br />time, in any coin or currency of the United States of <br />America which on the date of payment thereof is legal tender <br />for public and pri~ate debts. <br /> <br />From the date hereof through the December l, 1985, Pay- <br />ment Date, interest only shall be paid. In addition to the <br />abovementioned interest, during the period commencing on the <br />date hereof and ending on December 1, 1985, this Note shall <br />bear additional interest in the amount of $11,250 (the <br />"Additional Interest"), which Additional Interest shall be <br />payable to the Lender in installments of $2,250 on each of <br />the first five Payment Dates. <br /> <br />From and after January l, 1986, the Pr incipal Balance <br />shall be amortized at the Initial Interest Rate and paid in <br />354 consecutive monthly installments payable on said date <br />and on each Payment Date thereafter to and including <br /> <br />A - 1 <br />