2007-68 AMENDING CITY ORDINANCE NUMBER 2006-94

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� 2. Interest. The City shall pay the Bank interest on the u paid principal balance of Loans in accordance with the terms of this Agreement. Interest is pa able monthly as set forth above. Interest shall be computed on the basis of actual days (365/3 6) elapsed over a 360-day year. The daily Loan balance shall be computed by taking the princi al balance of Loans at the , beginning of each day, adding any Loans posted to the Loan Accoun that day, and subtracting any principal payments posted to the Loan Account as of that day. I terest begins to accrue on the date a Loan is posted to the Loan Account. The principal balanc of Loans which remains , unpaid past the Maturity Date shall bear interest at such rates until pai in full. 3. Closing Fee. The City shall pay to the Bank a non- efundable closing fee of ' $ -0- 4. Maturity Date; Payments; Voluntary Prepayments. The City shall pay to the Bank the principal balance of outstanding Loans together with any accrue interest on dernand or at the latest on December 31, 2008. Payments received by the Bank shal be applied first to accrued interest and then to the principal balance of outstanding Loans nless otherwise directed, provided that during the existence of any hereinafter defined Default 11 payments received shall be applied in such order and manner as the Bank shall determine. If ny payment from the City under this Agreement becomes due on other than a Banking Day, such payment shall be made on the next preceding Banking day and any such extension shall be incl ded in computing interest under this Agreement. The City shall have the privilege of prepaying without premi m or penalty and in whole or in part (but if in part, then in an amount not less than $10,000) he Note at any time upon notice to the Bank prior to 11:00 a.m. (Decatur time) on the date fix d for prepayment. If such ' prepayment prepays the Note in full and is accompanied by the termi ation of this Agreement in , whole, such prepayment shall be made together with accrued inte est thereon to the date of prepayment. 5. Periodic Statements. The Bank will furnish the City ith a statement for each I billing period which has any transaction or balance. 6. City Financial Statement. The City agrees to furnish f'nancial information to the Bank upon request of the Bank from time to time. Such information shall be furnished as soon as reasonably possible, but in any event within 30 days after reque t by the Bank. The City agrees to furnish without the Bank's request its annual audited financial statements within 180 days of the end of the City's fiscal year. 7. Representation and Warranties. In consideration of es ablishing and maintaining the Loan Account, the City hereby represents and warrants to the ank that: (a) the City is a home rule municipality; (b) the execution, delivery, and perfor ance by the City of this Agreement and the Note are authorized by the provisions of the Ac (as such is defined in the hereinafter defined Ordinance), have been duly authorized by the ordi ances duly adopted by the Council of the City on the 2nd day of October, 2006 and on the Sth day of August, 2007 (collectively, the "Ordinance"), and do not contravene the Ordina ce, the Constitution of the State of Illinois or any law or contractual restriction binding on o affecting the City; (c) no -3-