2026-35 An Ordinance Authorizing the Issuance and Sale of Revenue Bonds (Millikin University), Series 2026A of the City of Decatur, Macon County, Illinois, in an Aggregate Principal Amount not to Exceed $18,000,000; Authorizing the Execution

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reasonably practicable when it obtains knowledge that a petition in bankruptcy has been filed against the Borrower or of an event of default or event but for the passage of time or giving of notice, or both, would constitute an Event of Default under this Loan Agreement. Section 2.23. Security Interest in Funds and Pledged Revenues. To secure the payment of the principal of, premium, if any, and interest payable on the Series 2026A Note, and the performance of all the other covenants of the Borrower contained in this Loan Agreement, the Borrower does hereby grant to the City a security interest in the Borrower's rights,title and interest into the Trust Estate, including (a) any and all Pledged Revenues, and (b) any and all moneys and securities from time to time on deposit in any Fund established under the Indenture (other than amounts held by the Trustee in the Rebate Fund), together with all income thereon and proceeds thereof and all substitutions thereof and additions. The Borrower will not incur, create or permit to be created or remain, and will at its sole cost and expense promptly discharge, any lien on the Trust Estate other than the security interest created by this Section 2.23 and the assignment thereof to the Trustee pursuant to the Indenture. The aforesaid security interest in the Pledged Revenues is on a parity with a security interest granted by the Borrower in such Pledged Revenues to the Series 2026B Trustee in order to secure the Series 2026B Bonds and is subject in all respects to the Intercreditor Agreement. The disposition of the Pledged Revenues by the Trustee and the Series 2026B Trustee is in all respects subject to the provisions of the Intercreditor Agreement. Section 2.24. Maintenance of Security Interest; Recording. (a) The Borrower will, at its own expense, take all necessary action to maintain and preserve the liens and security interest granted by this Loan Agreement and the Indenture so long as any principal of,premium, if any, or interest on the Series 2026A Bonds remains unpaid. (b) The Borrower will,forthwith after the execution and delivery of this Loan Agreement and the Indenture and thereafter from time to time, cause the Loan Agreement and the Indenture (including any amendments thereof and supplements thereto) and any financing statements in respect thereof to be filed, registered and recorded in such manner and in such places as may be required by law in order to publish notice of and fully to perfect and protect the lien and security interest therein granted to the Trustee,to the rights, in any,of the City assigned under the Indenture and Loan Agreement, and from time to time will perform or cause to be performed any other act as provided by law and will execute or cause to be executed any and all continuation statements and further instruments necessary for such publication, perfection and protection. Except to the extent it is exempt therefrom,the Borrower will pay or cause to be paid all filing,registration and recording fees incident to such filing, registration and recording, and all expenses incident to the preparation, execution and acknowledgment of such instruments of further assurance, and all federal or state fees and other similar fees, duties, imposts, assessments and charges arising out of or in connection with the execution and delivery of this Loan Agreement and the Indenture and such instruments of further assurance. (c) The Borrower shall execute the Intercreditor Agreement relating to the security interest in the Pledged Revenues. -16-