11-14-01 1. INDENTURE OF TRUST - Laserfiche WebLink

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"Debt Service Reserve Fund" means the Fund by such name created Section 4.01. "Debt Service Reserve Requirement" means as of any date,the lesser of the maximum amount of principal of and interest on the Senior Bonds payable in any remaining Bond Year-or, 10%of the proceeds (par value less original issue discount, if any)received from the issuance and sale of the Senior Bonds-or, 125%of the Average Annual Debt Service of the Senior Bonds,or some lesser amount. The Initial Senior Debt Service Reserve Requirement is $ $573,806. "Default" means any event or condition, which, with the passage of time, notice or both, will constitute an Event of Default. "Deposit Date"means the 15t day of each month on which the Monthly Net Project Revenues and any Tax Increment Revenues and the Tax Increment Revenues are required to be deposited under Section 5.01. "Depository" means The Depository Trust Company in New York, New York, its successors or assigns,or any other person who shall be a Holder of all Bonds of a single Series,directly or indirectly for the benefit of Beneficial Owners,and approved by the City and the Original Purchaser for the Series to act as the Depository;provided that any Depository shall be registered or qualified as a"clearing agency"within the meaning of Section 17A of the Securities Exchange Act, as amended. "Determination of Taxability" means the receipt by the Trustee of a statutory notice of deficiency by the Internal Revenue Service,a ruling from the National Office of the Internal Revenue Service,or a final decision of a court of competent jurisdiction which holds in effect that interest payable on the Tax-Exempt Bonds is includable for federal income tax purposes in the gross income of a Bondholder because of any act or omission of the Borrower(or any successor or transferee)or of the Trustee; provided,however,that the Borrower shall have an opportunity for no more than 180 days after receipt by the Trustee to contest any such statutory notice,ruling or final decision and that no such statutory notice,ruling or final decision shall be deemed a"Determination of Taxability" if the Borrower is contesting the same during such 180 day period in good faith until the earliest of(a)abandonment of such contest by the Borrower, (b)the date on which such statutory notice,ruling or final decision becomes final,or(c)the 181st day after the initial receipt by the Trustee of such statutory notice,ruling or final decision;and provided further than no Determination of Taxability shall arise from the interest on the Tax-Exempt Bonds being included, for example, (1) as a specific "tax preference" item for individual or corporate taxpayers in computing the alternative minimum tax;(2)in income for purposes of calculating alternative minimum taxable income of any company pursuant to Section 55 of the Code; (3) in earnings and profits of branches of foreign corporations for purposes of calculating the "branch profits" tax; (4) within gross income of certain recipients of social security and railroad retirement benefits;or(5)as passive investment income to certain subchapter S corporations which have subchapter C earnings and profits. "Development Agreement" means the Development Agreement, dated as of November 1, 2001 between the City,the : . . .. • . . . . • .. _ . . • HRA, and the Borrower, as amended from time to time. "Disbursing Agreement"means Disbursing Agreement,dated as of November 1,2001,between the Borrower,the Trustee and the title insurance company named therein as the "Disbursing Agent." - 7 -