82-25 AUTHORIZING, APPROVING, RATIFYING AND CONFIRMING CERTAIN ADDITIONS AND CHANGES TO ECONOMIC DEVELOPMENT REVENUE BONDS (BRETTWOOD VILLAGE ASSOCIATES PROJECT)

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. � Term of Loan Agreement The Loan Agreement shall remain in full force and effect from the date thereof until such time as all of the Bonds have been fully paid or provision made for such payment pursuant to the Indenture, provided that all representa- tions and certifications by the Partnership as to all matters affecting the tax-exempt status of the Bonds shall survive the termination of the Loan Agreement. The Note; Repayment Installments and Other Payments Simultaneously with the issuance of the Bonds the Partnership will deliver the Note to the City, which will be endorsed without recourse and pledged to the Trustee. Pursusnt to the Note, the Partnership covenants and agrees to pay to the Trustee the principal sum of $3,300,000 in full at least fifteen full days before March 1, 1989, and to pay interest on the unpaid principal amount of the Note at least fifteen full days before September 1, 1982 and fifteen days before each March 1 and September 1 thereafter until the Bonds have been fully paid or provision for payment shall have been made pursuant to the Inden- ture; provided that under the Loan Agreement the Partnership agrees to make equal monthly deposits with the Trustee sufficient to make the semi-annual interest payments on the Note when due. All amounts payable by reason of any optional redemption shall be made not less than sixty (60) days prior to the date of optional redemption of the Bonds. It is intended that each payment of principal, premium, if any, and interest pursuant to the Loan Agreement and the Note shall be sufficient to pay the total amount of interest and principal (whether at maturity, or upon redemption or acceleration) , and premium, if any, payable on the Bonds on the September 1 and March 1 next succeeding the date on which payment is due. The Partnership also agrees to pay all taxes and assessments related to the Project, the reasonable fees and expenses of the Trustee and any paying agent incurred under the Indenture as and when the same become due, and all reasonable expenses of the City incurred in connection with the financing of the Project or caused by any default pursuant to the Loan Agreement. The Partnership may at its option prepay the Note under the same terms and conditions as those described in "Optional Redemption - Election" and "Optional Redemption - Destruction/Impossibility" under "THE BONDS - Redemption Prior to Maturity" herein except that the Partnership shall pay the amount necessary to effect such redemption to the Trustee not less than 60 days prior to the applicable redemption date. The Partnership is obligated to prepay the Note in the event the Bonds are required to be redeemed (i) in the event the Partnership or the Bank notifies the Trustee that the Letter of Credit will not be extended or will expire or will be terminated prior to July 1, 1989 or (ii) in the event of the occurrence of a "Determination of Taxability", in accordance with the terms and procedures described under the respective headings "Mandatory Redemption - Non Renewal of Letter of Credit and "Mandatory Redemption - Taxability" under "TAE BONDS - Redemption Prior to Maturity" herein; provided that such prepayment and redemp- 30