Authorizing the city Amend Documents Relating to its economic development refunding revenue bond series 1983

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•.'+.L\l L)! • 1L-L .w:ILLLI\ 1'U GD-04. LVi i v.i.vi .n _sucuscvuE +rev (120%) of the average Bond Buyer 30-Year Revenue Bond Index of 25 Revenue Bonds (or, if that index is discontinued, then one hundred fifteen percent (115%) of the Bond Buyer Index of 20 Municipal Bonds) for the three (3) full calendar months prior to the date of the giving of notice of such interest rate adjustment, or any successor index acceptable to Holder and Company. During the four (4)-month period following such notice of any such increase in the interest rate, Issuer shall have the right, by giving at least sixty (60) days written notice to Holder, to elect to prepay this Bond in full without prepayment premium. 3. At the option of the Holder exercisable at any time during the term of this Bond, payments due under this Bond may be required to be paid by wire transfer or other immediately available funds satisfactory to Holder. 4. If any payment under this Bond is not paid within five calendar days after the date payment is due, then Issuer shall pay to Holder a late charge of five percent (5%) of such payment. If any payment under this Bond is not paid within fifteen (15) days after the date payment is due, then the entire principal balance of this Bond shall bear interest from the due date of such late payment until such late payment is paid at a rate of five percent (5%) per annum in excess of the interest rate then applicable hereunder. The late charge and excess interest shall be due and payable immediately without demand. The receipt or acceptance by Holder of the late charge or excess interest shall be without prejudice to its rights to declare a default hereunder and shall not constitute a waiver of Holder's right to either require prompt payment when due of all sums payable hereunder or to declare a default for failure to make prompt payment. 5. From and after the date hereof, Issuer shall not have any right except as otherwise specifically provided, to prepay all or a portion of'the principal balance of this Bond until September 1, 1993. Commencing with September 1, 1993, on any payment date thereafter and with at least sixty(60) days' prior written notice to Holder thereof, additional payments may be made by Issuer which will be credited to installments of principal in the inverse order of maturity and shall be noted on Exhibit A hereto. Any prepaid amounts specified in such prior written notice together with the applicable prepayment premium shall become due and payable at the time provided in said notice. In the event of such prepayment either in full or in part a premium of 5% of the amount so prepaid shall be charged during the loan year commencing September 1, 1993 and ending August 31, 1994. Such premium shall decrease by one-half percent (i %) per year thereafter until a premium of one percent (1%) is reached, which premium shall continue until maturity. To the extent permitted by law, such prepayment premium shall also be payable if the loan is prepaid following an acceleration after default, provided that if the principal sum is so prepaid prior to September 1, 1993, the premium payable in respect thereof shall be an amount equal to ten percent (10%) of the principal sum prepaid. There shall be no prepayment premium payable if the principal sum is prepaid with casualty insurance proceeds or condemnation awards. 6. Notwithstanding the foregoing, upon at least six (6) months written notice to Issuer, Holder shall, at its sole option, have the right to call for payment in full of the principal - 2 -