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November 1, 2005 <br /> November 1, 2006 <br /> Nuvcnrher 1, 2007 <br /> (iii)The Subordinate Bonds shall be designated"City of Orono,Minnesota Senior Housing <br /> Revenue Bonds (Orono Woods Apartment Project), Subordinate Series 2001C".The Subordinate <br /> Bonds shall be in the aggregate principal amount of$ , and shall mature on November <br /> 1 of the years and bear interest at the rates per annum, according to years of maturity, as follows: <br /> Date Principal Amount Interest Rate <br /> November 1,2031 $ <br /> Section 2.02 Execution of Bonds. All Bonds shall be signed in the name of the City by the manual <br /> or the facsimile signatures of the Mayor and the City Clerk or other officers of the City,said signatures shall <br /> be authenticated by.the Trustee,which is hereby designated as authenticating agent. In the event that any <br /> of the officers whose signatures appear on any Bonds shall cease to be officers of the City before such Bonds <br /> shall have been authenticated or delivered by the Trustee, such Bonds may,nevertheless,be authenticated, <br /> delivered, and issued, and upon such authentication,delivery and issue, shall be binding upon the City as <br /> though those officers who signed the same had continued to be such officers of the City;and,also,any Bond <br /> may be signed on behalf of the City by such person who,at the actual date of execution of such Bond,shall <br /> be the proper officer of the City,although at the date of such Bond such person shall not have been such an <br /> officer of the City. Upon the execution and delivery of this Indenture the City shall execute and deliver the <br /> Series 2001 Bonds to the Trustee for authentication. <br /> Section 2.03 Authentication of Bonds. No Bonds shall be valid or obligatory for any purpose or <br /> shall be entitled to any right or benefit hereunder or under the Loan Agreement unless a Responsible Officer <br /> of the Trustee or its authorized agent shall manually endorse and execute on such Bond a certificate of <br /> authentication substantially in the form of the Certificate of Trustee set forth in Appendices A-1, A-2 and <br /> A-3 hereto (or in the form set forth in a Supplemental Indenture in the case of Additional Bonds). Such <br /> Certificate of Trustee upon any Bond shall be conclusive evidence that such Bond so authenticated has been <br /> duly issued under this Indenture and that the Holder thereof is entitled to the benefits of this Indenture and <br /> the Loan Agreement. <br /> No Bonds shall be authenticated by the Trustee except in accordance with this Article. <br /> The Trustee shall not be required to authenticate any Series 2001 Bond unless provided with the <br /> documents referred to in Section 2.08 and such further Certified Resolutions, Certificates, instruments or <br /> Opinions of Counsel as the Trustee may reasonably require with respect to the validity of the Series 2001 <br /> Bonds to be issued and the right and authority of the Trustee to authenticate such Bonds. <br /> Section 2.04 Registration, Transfers and Exchange. As long as any Bonds issued hereunder shall <br /> remain outstanding, the Trustee shall keep, as paying agent, an office or agency for the payment of the <br /> principal of and interest on such Bonds, as in this Indenture provided,and for the registration and transfer <br /> of such Bonds, and shall also keep at said office of the Trustee records for such registration and transfer. <br /> - 21 - <br />