2006-102 APPROVING A REDEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF DECATUR, ILLINOIS AND IP PLAZA, LLC, IN CONNECTION WITH THE EASTGATE COMMONS REDEVELOPMENT PROJECT AREA

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, c-1 C3�S K ; ,...'t f,^_.� ,�. �-'-�e!1� : �,�� I contrary, expressly or by inference or implication, certain limiting and restricting provisions of this Note are as follows: � I (a) The Mun�cipality and the Eiegistrar may deem and treat the registered owner hereof as the absolute o�vr�er hereof fc>r the purpose of receiving payment of or on a�count of principal hereof and interest due hareon and for all other purposes and neither the Munic�p�l�ty nor the Registrar shall be � affected bv any notice to the contrary. I �b) This Note is subject to mandatory prepayment on December � of each year, commencing the first December I fbllo�vin� aT least {12) months from the date of the fir�t d:aw hereon, in any integral multiple of$0.01, without premiwn, to the extent Incrementa] Taxes in t�he Special Account of the TIF l�und and!or the Municipal Sales 'I'aa Increment in the [P Plaza, LLC P�Iunicipal Sales Tax Increment Account ar; availab!e tl�erefor., if at all, and not otherwise. � ANY FAILURE TO PA1�' PRINCIPAL �JR INTEREST WHEN DUE OLELY BY REASON OF INSUFFICIENCY OF MO!YI:YS IN THE TIF FUND OR IN THE IP PLAZ , LLC MUI�tICIPAL SALES TA?� INCREMENT Fl?ND SHALi. NOT CONSTITUTE AN EVENT OF D ,FAULT IN CONNECTION WIT�1 "1'HIS NOTE. �, � �c) 'I'his Note is also subject�:L� prepayment at the opt:on of the unicipality in whole or in part, from any available ,�unds therf:for, at an;� time, in any integral multiple of$ �l, with not less than 10 days notice by the 1�lunici�;aiity to the registered owner hereof plus acerued in erest on such principal'amount being so redeemed tc; the date fixed for prepayment. Written notice of pr payment in whole or in part of • thi, �iote shz31 bc: �iv�r. b} the Municipality to the registered ow7er or ow ers hereof by first c1as�_�aii to ,he address sho��r, un thc registration books of the Municipaiity mamtai ed by the Registrar oi at such c�ther addre�s as i; ;'uri;i�h:d in writing by tne re;istered o��ner to the Regi,trar. "1'he date�f the m�i�ing of sach r�otice shali be not less than ten ;10) days prior to such prepayment a#e, and whan this Not: �r any po�2ion the��eof sh�ll have been called for prepayment and pay»ient made r provided for by settir�� aside tunds in a seg;::�a�ed account therefor, interest hereon shall c•ease ft�om and fter the date so specified - �12�"9'Y�e ri.�;hts•. and obligations of the Municipality nnd i�f the Regpstered Owner of this Nc�te rnay be mc��iified or amended cr:ly with the consrnt of th�e hlunicipality and of the Registe�ed Owner oT this Note. )t is herehvi certified and recited that all conditions, acts and things kequired by law to exist or to be _ done precedent to and in the issuance�f this Note did exist, have happened, been do�e and perfonned in reguiar and - due furm and time as required ht� law, a:�d the Municipality hereb} covenants and a�rees that it has made pravision • . for the scgregation of the lncremental Tahes under the Redevelupment Agreement nd that it will properly account for such Incremental Taxes and will comply with all the covenants ef and ma ntain the funds, accounts and subaccounts as provided bv the Indenture. Thtis hote sF�a91 not be vali� ar become obiigatory tor any rperse until the certificate of aathentication hereon shall have been signed 'uy the Regisirar and the acceptance shall have been si�ned by the R��istered Uwner anci��r pic.d��ec ur assi;;ns, as th;case may be. � �Status as a'`qualitied tax-exempt ubligation."� 1N WITNESS V1'HEREUF, the City of llecatur, Mac n i.ouniy, Illinois, by its City (:o�!n�-�l. l�as caused this Note to be ssgned by the m�nual signatures a� the its avor and City Clerk, and its corporate seal or d facsin�ile t:�er�of'to be impressed or reproduced h�.r•eon, all as�ppearir�g hereon and as of the Dated Date identiYied above. (SF;,aL) Mayor-----� --- ----- CityCler�c------ Y---- -- Page 30 of 32 ii