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

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Government Obligations do not permit redemption thereof at the option of the issuer, when due and payable (or redeemable at the option of the holder)will without reinvestment provide,together with any other moneys which shall have been deposited irrevocably with the Trustee for such purpose, sufficient moneys to pay such principal,redemption premium,if any,and interest; and (ii) there shall be filed with the Trustee an opinion of Bond Counsel to the effect that the incurring of such Senior Indebtedness and the refunding of Bonds or other Senior Indebtedness with the proceeds thereof will not cause interest on any Tax-Exempt Bonds to be included in gross income for federal income tax purposes. (c) Any additional Senior Indebtedness may be secured by the Mortgage on parity with the Bonds, but the additional Senior Indebtedness shall not be secured by any amounts in the Debt Service Reserve Fund(except any Additional Bonds payable from such Senior Indebtedness would be secured by the Debt Service Reserve Fund);provided,however,that the Borrower shall not secure nor attempt to secure such Senior Indebtedness with an interest in the property secured under the Mortgage except in accordance with the terms of an agreement satisfactory to the Trustee. (d) Any default under any agreement for repayment of Senior Indebtedness shall be a default under this Agreement and there shall be included in any agreement for repayment of such Senior Indebtedness a provision that any default under this Agreement shall be a default under such agreement. In addition,any agreement for repayment of such Senior Indebtedness shall include a provision that, prior to exercising any remedies upon a default by the Borrower under such agreement,the holder or holders of such Senior Indebtedness (or a trustee representing such holders)shall cooperate with the Trustee to the end that the interests of such holder or holders and the Bondholders shall be equally protected. Section 6.18 Calculation of Debt Service. The calculation of Debt Service Requirements pursuant to this Agreement or the Indenture, shall be made in a manner consistent with the following: (a) With respect to Balloon Indebtedness, as hereafter defined, such Balloon Indebtedness shall be assumed to be amortized in substantially equal annual amounts to be paid for principal and interest over an amortization period equal to the actual term thereof,at the interest rate specified therein. "Balloon Indebtedness"means Long-Term Indebtedness twenty-five percent(25%) or more of the original principal amount of which(A)is due in any 12-month period or(B)may,at the option of the holder thereof,be required to be redeemed,prepaid, or purchased directly or indirectly by the Borrower or otherwise paid in any 12- month period; provided,that, in calculating the principal amount of such Balloon Indebtedness due or required to be redeemed,prepaid,purchased or otherwise paid in any 12-month period, such principal amount shall be reduced to the extent that all or any portion of such amount is required to be amortized prior to such 12-month period. Balloon Indebtedness shall not include Long-Term Indebtedness with -49-