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

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shall be paid by check or draft mailed to the registered owner at the owner's registered address. Notwithstanding the foregoing,(i)any interest due on any Bond shall be paid by wire transfer to any Holder of not less than $500,000 aggregate principal amount of such Bonds(or, if less, all Bonds of any Series),upon such Holder providing satisfactory instructions therefor to the Trustee,and(ii) the redemption price or any prepayment of any Bond(but not payment upon final maturity)shall be paid by wire transfer to any Holder of not less than$500,000 aggregate principal amount of such Bonds (or, if less, all Bonds of any Series), upon such Holder providing satisfactory instructions therefor to the Trustee and delivery to the Trustee not less than five(5)Business Days prior to any date on which such a payment is due,the Bond or Bonds with respect to which such payment is to be made. (e) Principal Amount, Maturities and Interest Rates of Series 2001 Bonds. (i) The Series 2001A Bonds shall be designated"City of Orono,Minnesota Senior Housing Revenue Bonds (Orono Woods Apartment Project), Series 2001A". The Series 2001A Bonds shall be in the aggregate principal amount of$ ,and shall mature on November 1 of the years set forth below and bear interest at the rates per annum,according to years of maturity,until the Mandatory Tender Date or earlier date on which it is paid or discharged as provided herein: Date Principal Amount Interest Rate November 1,200_2006 $ November 1,2002007 November 1, 2008 November 1,2009 November 1, 2010 November 1,2036 From and after the Mandatory Tender Date until the their maturity,the Series 2001A Bonds shall bear interest at the interest rate,which,in the determination of the Remarketing Agent,would result as nearly as practicable in the market value of the Series 2001A Bonds on the Mandatory Tender Date,giving effect to the principal payment schedule and optional redemption provisions to be in effect thereafter,being 100%of the principal amount thereof. In determining the rate pursuant to this paragraph,the Remarketing Agent shall have due regard for general financial conditions and such other or special conditions as in the judgment of the Remarketing Agent may have a bearing on the rate. The Remarketing Agent shall determine the rate, and shall give notice of such determination to the City,the Trustee and the Borrower,not less than five(5)Business Days prior to the Mandatory Tender Date. (ii)The Series 2001B Bonds shall be designated"City of Orono,Minnesota Senior Housing Revenue Bonds (Orono Woods Apartment Project), Taxable Series 2001B". The Series 2001B Bonds shall be in the aggregate principal amount of$ ,and shall mature on November 1 of the years and bear interest at the rates per annum, according to years of maturity, as follows: Date Principal Amount Interest Rate November 1,2004 $ - 20 -