32-17 Economic Development Revenue Bonds (Studebaker Project)

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7. It understands that the Issuer has no continuing disclosure obligation on the Series 2017 Bonds. 8. It understands that interest on the Series 2017 Bonds is taxable for federal income tax purposes. It is provided in the Indenture that the Issuer may hereafter issue Additional Bonds (as defined in the Indenture) from time to time under certain terms and conditions contained therein. (Such Additional Bonds and the Series 2017 Bonds are hereinafter collectively referred to as the "Bonds.") Reference is made to the Indenture and to all indentures supplemental thereto and to the Financing Agreement for a description of the nature and extent of the security, the rights, duties and obligations of the Issuer and the Trustee, the rights of the holders of the Bonds, the issuance of Additional Bonds and the terms on which the Bonds are or may be issued and secured, and to all the provisions of which the holder hereof by the acceptance of this Series 2017 Bond assents. The Series 2017 Bonds are issuable in registered form in the minimum denomination of $100,000 and integral multiples of$1,000 thereafter. This Series 2017 Bond is transferable by the registered holder hereof in person or by its attorney duly authorized in writing at the principal office of the Trustee, but only in the manner, subject to the limitations and upon payment of the charges provided in the Indenture and upon surrender and cancellation of this Series 2017 Bond. Upon such transfer a new registered Bond will be issued to the transferee in exchange therefor. The Issuer, the Trustee and the Paying Agent may deem and treat the Registered Owner hereof as the absolute owner hereof for the purpose of receiving payment of or on account of principal hereof and premium, if any, and interest due hereon and for all other purposes and neither the Issuer nor the Trustee nor the Paying Agent shall be affected by any notice to the contrary. If sufficient funds are on deposit in the Bond Fund pursuant to Section 5.1(a) of the Indenture, the Series 2017 Bonds shall be subject to redemption prior to maturity at the option of the Issuer on any date, upon seven (7) days' written notice, in whole or in part, in such order of maturity as the Issuer shall direct and by lot within maturities on any date, from any moneys made available for that purpose, at face value, with no premium, plus in each case accrued interest to the date fixed for redemption. If any of the Series 2017 Bonds are called for redemption as aforesaid, notice thereof identifying the Series 2017 Bonds to be redeemed will be given by mailing a copy of the redemption notice by first class mail not less than seven (7) days prior to the date fixed for redemption to the Registered Owner of the Series 2017 Bonds to be redeemed at the address shown on the registration books; provided, however, that failure to give such notice by mailing, or any defect therein with respect to any registered Series 2017 Bond, shall not affect the validity of any proceedings for the redemption of other Series 2017 Bonds. All Series 2017 Bonds so called for redemption will cease to bear interest on the specified redemption date, provided funds for their redemption are on deposit at the place of - 5 - I\11860514.2