5811 AUTHORIZING THE SALE, ISSUANCE AND DELIVERY OF PROJECT NOTES AND THE EXECUTION OF REQUISITION AGREEMENTS

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� ` ' � HUD-9003 � � (11-60) (E) The term "Project Temporary Loan" shall mean the aggregate amount set forth • belo� which the Government is obligated to pay to the Local Issuing Agency _ on a•:count of the loan provided for in the Contract and which the Governmenc shall pay for the account of the Local Issuing Agency to the Paying Agents of t:�e New Project Notes in the amoun[s as follows: NEW PROJECT NOTES PROJECT TEMPORARY LOAN PAYING AGENT Series Nos. (F) The term "Project Notes" shall mean the Project�Notes of the Local Issuing Agency issued in connection with the Project other than those described in (��) and (D) above, payabLe Lo.bear•er, and described as follows: MATURITY NOTE PRINCIPAL INTEREST RATE SERIES DATE DATE NOS. AMOUNT PER ANNUM $ 7, (G) The term "Project Loan Notes" shall mean the notes or other obligations of the Local Issuing Agency issued and deliverBd to the Government pursuant to the Contrac[ to evidence payments made by the Government to the Local Issuing Agency in connection with the Project and which obligate the Local Issuing Agency to repay the unrepaid aggregate amount of such pay- ments with interest, at the rate or rates prescribed in the Contract, and which are outstanding as follows: � AMOUVT OF PAY�IENTS ACCRUID INTEREST TO DATE LESS REPAYMINTS OF NEW PROJECT NOTES $ $. � Section 2. Payuent of OutstandinQ Obli�ations f i Simul[aneously with the payment for the New Project Notes by the purchasers thereof, � � the Local Issuing Agency shall pay or cause to be paid (13 to the Paying Agent or i Agents for the Outstanding Project Notes an amount equal to the principal and interest , i to maturity, as specified in Section 1(C) hereof, for the sole purpose of paying the principal of and interest upon said Outstanding Project Yotes to their maturity; and (2) to the Government an amount equal to the amount by which the purchase price (including accrued interest and premium, if any) of t:;e New Project Notes exceeds the total principal and interest to maturity of the Outstandir.g Project Notes, but in no event to exceed the aggregate amount of payments iess repay,nents with interest thereon as specified in Section 1(G) hereof, for the sole purpose of paying the principal of and interest upon the Project Loan Note to the date cf payment. Sec[ion 3. �ment of Project Temporary Loan by Governmen: Upon compliance by the Local Issuing Agency with Sect�on 2 hereof, without any turther showing of the necessity therefor and without compliance wi:h aay conditions other than ehose set forth in Section 2 hereof, the Government, to the extent necessary, shall make payment of the Project Temporary Loan as follows: Said payment shail be made on or prior to [he maturity date o£ the New Yroject hotes as specified in Section 1(D) hereof in Che amount set iorth in Section 1(E) hereof, to the Paying Agent or A��nts named in the Neca Project Notes for the account of the Loc�i issuin� tigency, Co be used to the extent necessazy f�r the �a}�ner.: o: t:-;e �rinc:��_ c� ;.t:d _,^,te-est to rt:2tu:ity o� se�id New Project So:�.s. :,ny uai�,r,c� c� t;� ?_c;ect :e;�porar� ican aot reaGat, to �.ay t:ie principal of ar,d i;��cre�t to maturi�v on ,,:;� \�w p:��rc� I�otas shaii b2 puid to the -2-