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[Form of Note - Reverse Side] <br /> This note in the aggregate principal amount of not to exceed $500,000 issued by the City <br /> for the purpose of paying the costs of the Project and of paying expenses incidental thereto, all as <br /> described and defined in the ordinance authorizing the Note (the "Ordinance"), pursuant to and <br /> in all respects in compliance with the applicable provisions of the Illinois Municipal Code, as <br /> supplemented and amended (including, specifically, the Tax Increment Allocation Redevelopment <br /> Act, as amended), and as further supplemented and, where necessary, superseded, by the powers <br /> of the City as a home rule unit under the provisions of Section 6 of Article VII of the Illinois <br /> Constitution of 1970 (such code and powers being the 'Act"), and with the Ordinance, which has I� <br /> been duly passed by the Council, approved by the Mayor of the City, and published, in all respects <br /> as by law required. <br /> This Note is subject to provisions relating to redemption and notice and procedure for <br /> redemption; and such other terms and provisions relating to security and payment as are set forth <br /> in the Ordinance, to which reference is hereby expressly made, and to all the terms of which the <br /> Registered Owner hereof is hereby notified and shall be subject. <br /> The City may deem and treat the Registered Owner hereof as the absolute owner hereof <br /> for the purpose of receiving payment of or on account of principal hereof and interest due hereon <br /> and for all other purposes, and the City and the Note Registrar shall not be affected by any notice <br /> to the contrary. <br /> -15- <br />