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. "Bond Purchase Agreement" means the Bond Purchase <br /> Agreement dated as of December 1 , 1985 between the Issuer and the <br /> Purchaser. <br /> "Borrower" means Pershing Development Company, an <br /> Illinois limited partnership, and its authorized successors and <br /> assigns. <br /> "Code" means the Internal Revenue Code of 1954 , as <br /> amended and supplemented, and related regulations. <br /> "Dated Date" means December 1 , 1985. <br /> "Default" or "default" means those defaults , exclusive <br /> of any cure period, specified in and defined in Section 11 <br /> hereof. <br /> "Enabling Ordinance" means Ordinance No. 5768 of the <br /> Issuer ' s City Council, as supplemented and amended, adopted under <br /> and pursuant to the home rule provisions of the Constitution of <br /> Illinois. <br /> "Event of Default" or "event of default" means those <br /> events specified in and defined in Section 11 hereof. <br /> "Hereof, " "herein, " "hereunder, " and other words of <br /> similar import refer to this Bond Ordinance as a whole. <br /> "Interest Rate" means a rate of interest per annum <br /> equal to seventy-five percent (75$) of the prime rate established <br /> as such from time to time by National Westminster Bank USA, with <br /> its principal ofiice in New York, New York (the "Prime Rate" ) , <br /> which rate of interest shall change as the Prime Rate changes. , <br /> "Issuer° means the City of Decatur, Macon County , II <br /> Illinois. I <br /> -3- <br />