PRILIMINARY OFFIC STATEMENT 11-15-2001 44.

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Land; (c) the cost of payment and performance bonds and any and all types of insurance that may be necessary or appropriate to have in effect during the course of the acquisition or construction of the Project Facilities or improving the Land,to the extent the same shall constitute a Capital Expenditure; (d) all costs of engineering and architectural services,including the costs of the Borrower for test borings, surveys, estimates, plans and specifications and preliminary investigations therefor, and for supervising construction, as well as for the performance of all other duties required by or consequent to the Project; (e) any other Capital Expenditures heretofore or hereafter incurred by the Borrower in connection with the Project defined as and constituting a proper cost under the Act and approved by the Authorized Borrower Representative; and (f) Capitalized interest owing on the Series 2001 Bonds through and including April 30, 2003. "Project Equipment" means all Equipment located in the Project Buildings or otherwise on the Land or elsewhere,to the extent financed in whole or part with proceeds of Bonds or amounts disbursed under the Indenture or the Disbursing Agreement. "Project Facilities"means the Land and all buildings, improvements and equipment to be acquired, constructed or installed as part of the Project or which is otherwise located on the Land. "Project Fund" means the fund so named in Section 4.01 of the Indenture. "Project Plans" means the plans and specifications for the acquisition, construction and equipping the Project to be kept on file by the Borrower for inspection by the City, the Trustee and the Inspecting Architect and any modifications thereof and additions thereto permitted under the Loan Agreement. "Project Revenues"means,for a period,as determined in accordance with generally accepted accounting principles, all operating revenues received by or on behalf of the Borrower for the ownership, lease or other operation of the Project Facilities, from any source, including all rent, charges or fees derived from the use or occupancy thereof, and •roceeds of business or rent interru•tion insurance excludin•securi de•osits from tenants proceeds of insurance (other than from business or rent interruption insurance), interest income, gain from the sale of any investment, and any item of an extraordinary or nonrecurring nature. "Rating Agency" means either of Moody's Investors Service or Standard & Poor's Ratings Group, a division of McGraw-Hill.