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�, P�iarch 31 , June 3 0 , <br /> September 30 and December 31 Quarterly <br /> of Each of the Years Payments <br /> 1987 $ 93 ,750 <br /> 1988 $100 ,000 <br /> 1989 $106 , 250 <br /> 1990 $112,500 <br /> 1991 $118 ,750 j <br /> 1992 $125 ,000 II <br /> 1993 $137,500 <br /> 1994 $150 ,000 <br /> 1995 $150 ,000 <br /> 1996 $150,000 <br /> 1997 $131 ,250 <br /> , each such quarterly principal installment hereof to be in an <br /> amount which is equal to the appropriate quarterly principal <br /> installment as shown in the ahove payment schedule (the "Payment <br /> Schedule") multiplied by a fraction the numerator of which is the <br /> stated principal sum of this Bond and the denominator of which is <br /> $5 , 500 , 000 , and to pay interest on the last day of each month, <br /> commencing January 31 , 1986 , on the principal sum hereof out- <br /> standing and unpaid from time to time, and not overdue, at the <br /> hereinafter defined Interest Rate , as it may be adjusted as <br /> hereinafter provided, and otherwisa at the Overdue Rate or <br /> Taxable Rate, all in the manner , at the times and �vith the effect <br /> -12- <br />