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

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(B) stating that the Additional Bonds whose authentication and delivery are then applied for,when issued and executed by the City and authenticated and delivered by the Trustee,will be the valid and binding obligations of the City in accordance with their terms and entitled to the benefits of and secured by the lien of this Indenture,the Loan Agreement, the Mortgage and/or the Subordinate Mortgage,equally and ratably,as applicable,with all then outstanding Bonds; and (C) stating that the issuance of such Additional Bonds will not affect the federal income tax treatment of any then unpaid Bonds. Any Additional Bonds shall be dated,shall bear interest at a rate or rates not exceeding the maximum rate, if any,permitted by law, shall have stated maturities, and may be subject to redemption prior to their stated maturities at such times and prices and on such terms and conditions as may be provided by the Supplemental Indenture authorizing their issuance. As designated by the Borrower,with respect to the Loan Agreement, the Mortgage and/or the Subordinate Mortgage, all Additional Bonds shall be payable and secured equally and ratably and on a parity with all Outstanding Bonds. Section 2.10 Book-Entry System. Series 2001 Bonds shall be initially issued in Book-Entry Form by delivering to the Depository one typed executed and authenticated Bond for each stated maturity of the each Series of the Series 2001 Bonds, registered to CEDE & Co., and by entering into the Letter of Representations, if not previously entered into. While the Series 2001 Bonds remain issued in Book-Entry Form,the provisions of this Indenture which conflict with the operation of the Book-Entry System shall not apply, and the provisions of the Letter of Representations and the Operational Arrangements referenced therein relating to such Book-Entry System and the following provisions shall prevail. (a) Registration, Recording and Transfer of Ownership. The Depository (or its nominees)shall be and remain recorded on the registration records maintained by the Trustee as the Holder of all Bonds which are in Book-Entry Form. No transfer of any Bond in Book-Entry Form shall be made, except from one Depository to another(or its nominee)or except to terminate the Book-Entry Form. All Bonds of each Series and stated maturity in Book-Entry Form shall be issued and remain in a single Bond certificate registered in the name of the Depository(or its nominee); provided, however, that upon termination of the Book-Entry Form with respect to any Series of Bonds pursuant to the Letter of Representations or as otherwise directed by written notice from the Borrower to the City,Trustee and Depository,the City shall,upon delivery of all Bonds of the Series from the Depository, promptly execute, and the Trustee shall thereupon authenticate and deliver, Bonds to all persons who were Beneficial Owners thereof immediately prior to such termination;and the Trustee shall register such Beneficial Owners as Holders of the applicable Bonds. The Trustee, as bond registrar and paying agent, shall maintain accurate books and records of the principal balance,if any,of each such outstanding Bond in Book-Entry Form,which shall be conclusive for all purposes whatsoever. Upon the authentication of any new Bond in Book-Entry Form in exchange for a Predecessor Bond,the Trustee shall designate thereon the principal balance remaining on such Bond according to the Trustee's books and records. (b) Notices. The Trustee shall give notice to the Depository of such matters and at such times as are required by the Letter of Representations. All notices of any nature required or permitted hereunder to be delivered to a Holder of a Bond in Book-Entry Form shall be transmitted to Beneficial Owners of such Bonds at such times and in such manner as shall be determined by the - 26 -