11-14-01 2. LOAN AGREEMENT - Laserfiche WebLink

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Section 4.05 Interest on Loan Repayments and Other Overdue Payments. In the event the Borrower shall fail to make Loan Repayments required by Section 4.02 or 4.03 hereof,the installment so in default shall continue as an obligation of the Borrower until the amount in default shall have been fully paid, and if such failure shall result in a failure to pay when due any principal of,premium,if any,or interest on any Series of the Bonds,the Borrower agrees to pay interest on such sum from such date at the rate or rates of interest specified in the applicable Series of Bonds. In the event the Borrower shall fail to make any payment required under Section 4.03 hereof or if advances are made pursuant to Section 7.05 hereof,the item so in default shall continue as an obligation of the Borrower until the amount shall have been fully paid and the Borrower agrees to pay interest on such payment in default at the rate or rates of interest specified in Section 7.05 hereof. Section 4.06 Options to Prepay Loan. (a) The Bonds are subject to redemption in whole or in part at the request of the Borrower as provided in Section 3.01(a) of the Indenture, and the Borrower is hereby granted the option to prepay the Loan in whole or in part for the purpose of so redeeming Bonds. (b) The Bonds will be subject to redemption in whole and not in part as provided in Section 3.01(b)of the Indenture,and the Borrower is hereby granted the option to prepay the Loan in whole for the purpose of so redeeming all outstanding Bonds, but only if: (i) the Project Facilities shall be damaged or destroyed or all or a portion of the Project Facilities are taken in condemnation proceedings and in the good faith reasonable judgment of the Borrower, the Project Facilities cannot be restored or replaced to substantially the same condition as existed before such damage,destruction or condemnation,and the Borrower shall determine not to rebuild, repair, restore or replace the Project Facilities pursuant to Sections 5.10 and 5.11 hereof; or (ii) as a result of any changes in the Constitution of the State or the Constitution of the United States of America or of legislative or administrative action (whether state or federal) or of a final decree, judgment or order of any court or administrative body (whether state or federal) this Agreement shall have become void or unenforceable or impossible of performance in any material respect in accordance with the intent and purposes of the parties as expressed herein. (c) The Borrower may also prepay the Loan by causing a defeasance of all outstanding Bonds in accordance with Article X of the Indenture. To exercise the options granted in paragraphs(a)or(b)of this Section,the Borrower shall, at least forty-five(45)days prior to the date upon which such prepayment is to be made,give written notice of such prepayment to the Trustee (subject to the right of the Trustee to agree to a shorter notice period). Such notice shall request the redemption on a specified redemption date pursuant to Article III of the Indenture of a specified principal amount of Bonds(if less than all outstanding Bonds are to be redeemed) and shall otherwise comply with the provisions hereof and of Article III of the Indenture. On or before the date specified for the redemption of the Bonds,the Borrower shall pay the Trustee for deposit in the Optional Redemption Fund an amount which, together with other funds held by the Trustee and available for the -26-