Regarding Issurance of economic development revenue refunding bonds Regency Place Project

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SENT BY:KUTAKROCK ;11— 4-92 ; 2:28PM ; 2022230491-) 12192371125;#37 • Company, Post Office Box 7041, San Francisco, California 94120, Fax: (415) 393-4128; Philadelphia Depository Trust Company, Reorganization Division, 1900 Market Street, Philadelphia, Pennsylvania 19103, Attention: Bond Department, Fax: (215) 496-5058; any such other securities depositories as the Issuer may designate in writing to the Trustee. Information Services include Financial Information, Inc., "Daily Called Bond Service," 10th Floor, 30 Montgomery Street, Jersey City, New Jersey 07302, Attention: Editor; Kenny Information Services, "Called Bond Service." 28th Floor, 55 Broad Street, New York, New York 10004; Moody's Investors Service "Municipal and Government," 8th Floor, 99 Church Street, New York, New York 10007, Attention: Municipal News Reports; and Standard and Poor's Corporation "Called Bond Record," 25 Broadway, New York, New York 10004; or any other such services as the Issuer may designate in writing to the Trustee. Failure to give notice by mailing to the holder of any Bond designated for redemption or any defect in such notice shall not affect the validity of the proceedings for the redemption of any other Bond. Section 306. Cancellation. All Bonds that have been surrendered for payment or redemption, any Bonds purchased from any fund established under this Indenture, shall be cancelled and destroyed by the Trustee and shall not be reissued. A counterpart of the certificate of destruction evidencing such destruction shall be furnished by the Trustee to the Issuer. Section 307. Payment Upon Redemption. Prior to each redemption date, the Trustee shall make provisions for the payment of Bonds to be redeemed on such date by setting aside and holding in trust an amount from the Bond Fund or otherwise received by the Trustee. Upon presentation and surrender of any such Bond at the principal corporate trust office of the Trustee on or after the date fixed for redemption, the Trustee shall pay the principal of and premium, if any, on such Bond as of the applicable Regular Record Date; otherwise, interest shall be payable to the owner thereof as of the date nixed for redemption. Section 308. Effect of Redemption. Notice of redemption having been given as provided in Section 304 hereof, the Bonds or portions thereof designated for redemption shall become due and payable on the date fixed for redemption and, unless the Issuer defaults in the payment of the principal thereof and premium, if any, thereon, or the accrued interest due with respect thereto, such Bond or portions thereof shall cease to bear interest from and after the date fixed for redemption whether or not such Bonds are presented and surrendered for payment on such date. If any Bond or portion thereof called for redemption is not so paid upon presentation and surrender thereof for redemption, such Bond or portion thereof shall continue to bear interest at the rate set forth thereon until paid or until due provision is made for the payment of same. [End of Article III] 3162.1 23