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

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of the issuance of Additional Bonds (as defined in the Indenture),the rights, duties and immunity of the Trustee, and the rights, immunities and obligations of the City thereunder. Certified copies of -ond Resolution and executed counterparts of the Indenture, the Loan Agreement, and the Mortgage ar: an file at the office of the Trustee. As defined and set forth in the Indenture,the Indenture also provides for the issuance of a series of City of Orono,Minnesota Sen for Housing Revenue Bonds(Onono Woods Apartment Project),Series 2001A Bonds(the"Series 2001A Bonds")and a series of City of Orono,Minnesota Senior Housing Revenue Bonds (Onono Woods Apartment Project),Taxable Series 2001B Bonds(the"Series 200113 Bonds",and togther with the Series 2001A Bonds, the "Senior Bonds"). The Senior Bonds are equally and ratably secured by the Loan Agreement, the Indenture and a Combination Mortgage, Security Agreement, Fixture Financing Statement and Assignment of Leases and Rents, dated as of November 1, 2001, executed by the F Trower to the Trustee(the "Senior Mortgage"). The Bonds are subordinated to the Senior Bonds in terms ights of payment and security, all as described in the Loan Agreement and the Indenture. The Bonds shall be subject to redemption prior to maturity only as follows: (a) Optional Redemption. The Series 2001 Bonds maturing on or after Noven Fier 1, 2007 are subject to optional redemption in advance of their stated maturities, in whole or :': rt on any date and in part on any Business Day on or after November I,2006,and if in part in a .Ince with Section 3.07 of the Indenture, in Authorized Denominations and stated maturii; = t the direction of the Borrower,at a redemption price equal to the principal amount to be redec plus accrued interest, plus a premium, expressed as a percentage of the principal amount red -:i, as follows: Redemption Date Price November 1, 2006 through October 31,2007 I 02% November 1, 2007 through October 31,2008 101% November 1, 2008 and thereafter 100% The Bonds shall be redeemed the following order or priority: (i)first, the Senior Bonds; as (ii) second,the Bonds. (b) Extraordinary Redemption. The Bonds are subject to extraordinary reden it on any Interest Payment Date as a whole but not in part,at a redemption price equal to par,plus, • .rued interest to the redemption date,upon the happening of certain events of damage to or destr► c:ion or condemnation of the Project or change of law rendering the Loan Agreement unenforceable or impossible of performance, all as more fully provided in Section 4.06 of the Loan Agreement; provided,however,that any Net Proceeds received from casualty insurance or condemnation awards used to redeem the Bonds shall be applied in the following order: (i) first, to redeem the 'enior Bonds; (ii) second,to redeem the Bonds. (c) Mandatory and Scheduled Sinking Fund Redemption. The Bonds are s►e' ct to mandatory sinking fund redemption with respect to the maturities through operation of a King fund as provided for in the Indenture. Series 2001 Bonds shall be redeemed without furthertion from the Borrower on November 1 of the years indicated in the Indenture in the principal u►nts at a redemption price equal to the principal amount thereof plus accrued interest to the redo,‘Iption date. A-3