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<br />. <br /> <br />. <br /> <br />. <br /> <br />Note. Upon the execution and delivery of definitive Notes the temporary Notes will be <br />exchanged therefor and cancelled, <br /> <br />Section 3. <br /> <br />Form of Note. <br /> <br />3.01. The Notes will be printed or typewritten in substantially the following form: <br /> <br />No.R- <br /> <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />$ <br /> <br />GENERAL OBLIGA nON TAXABLE TAX INCREMENT NOTE, <br />SERIES 2006B <br /> <br />Rate <br /> <br />Maturity <br /> <br />Date of <br />Original Issue <br /> <br />5.9522% <br /> <br />December 15,2016 <br /> <br />December] 5, 2006 <br /> <br />Registered Owner: <br /> <br />The City of New Brighton, Minnesota, a duly organized and eXlstmg municipal <br />corporation in Ramsey County, Minnesota (the "City"), acknowledges itself to be indebted and <br />for value received hereby promises to pay to the Registered Owner specified above or registered <br />assigns, the principal sum of $ , together with interest thereon from the date hereof at <br />the annual rate specified above, payable June ] 5 and December 15 in each year, commencing <br />June 15,2007, payable in the amounts set forth in Exhibit A hereto, to the person in whose name <br />this Note is registered at the close of business on the fifteenth day (whether or not a business <br />day) of the immediately preceding month. The installments of principal and interest hereon are <br />payable in lawful money of the United States of America by check or draft by the City Finance <br />Director, as Registrar, Paying Agent, Transfer Agent and Authenticating Agent, or its designated <br />successor under the Resolution described herein. For the prompt and full payment of such <br />principal and interest as the same respectively become due, the full faith and credit and taxing <br />powers of the City have been and are hereby irrevocably pledged. <br /> <br />The City may elect on any date to prepay the Note in whole or in part upon notice to the <br />Registrar and upon 120 days notice by the Registrar to the Registered Owner, and if in part, in <br />the minimum principal amount of $1,000,000. If less than the entire principal amount of the <br />Note is called for redemption, the principal installments will be redeemed in inverse order. The <br />Note shall be redeemed at a price of par plus accrued interest to the date of redemption. <br /> <br />302227v3 8m NE136-163 <br /> <br />6 <br />