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<br />This Note shall be subject to optional prepayment and
<br />redemption in whole, but not in part, on any installment payment
<br />date on or after March 1, 1987, at the option of the City, at the
<br />request of the Company, upon seven (7) days' prior written notice
<br />from the Company to the city and the Lender, at a prepayment
<br />price equal to the principal amount so to be prepaid plus accrued
<br />interest thereon to the prepayment date, and a premium, expressed
<br />as a percentage of the principal amount hereof to be prepaid, as
<br />follows:
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<br />6,00%, if prepaid March I, 1987, to February I, 1988;
<br />5.50%, if prepaid March I, 1988, to February I, 1989;
<br />5.00%, if prepaid March I, 1989, to February I, 1990;
<br />4.50%, if prepaid March I, 1990, to February I, 1991;
<br />4,00%, if prepaid March I, 1991, to February I, 1992
<br />3,50%, if prepaid March I, 1992, to February I, 1993;
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<br />3.00%, if prepaid March I, 1993, to February I, 1994; and
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<br />2.50%, if prepaid March I, 1994, to January I, 1995,
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<br />This Note shall be sUbject to mandatory redemption on
<br />February 1, 1995 (which mandatory redemption the Holder hereof in
<br />its discretion may waive, upon notice in writing to the City and
<br />the Company), at a redemption price equal to the principal amount
<br />of this Note then outstanding, plus accrued interest to the
<br />redemption date, unless prior to such redemption date, the City,
<br />the Company and the Holder hereof shall have agreed in writing to
<br />an extension of the maturity hereof to the stated maturity
<br />hereof, upon such terms and conditions, including the interest
<br />rate to be subsequently borne by this Note, as are satisfactory
<br />to the city, the Company and the Holder hereof, and unless all
<br />such terms and conditions are approved prior to such redemption
<br />date by resolution of the city Council.
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<br />Notice of any such prepayment or redemption shall be
<br />given to the owner or registered assigns of this Note by certified
<br />or registered mail, addressed to it at its registered address,
<br />not less than seven (7) days prior to the date fixed for prepay-
<br />ment or redemption, and shall be published, if required by law,
<br />in a financial journal circulated in the English language in the
<br />city of Minneapolis or st. Paul; Minnesota, at least once, not
<br />less than thirty (30) days before the date so fixed for prepayment
<br />or redemption. At the date fixed for prepayment or redemption,
<br />funds shall be paid to the owner hereof at its registered address,
<br />sufficient to pay this Note, and any prepayment premium. Upon
<br />the happening of the above conditions, this Note thus called
<br />shall not bear interest after the date specified for prepayment
<br />or redemption,
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