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benefits of, and ratably secured by, a Trust Agreement (hereinafter.
<br />called the "Agreement"), dated as of December 1, 1990, executed by
<br />the Authority and Society Bank, Indiana, as Trustee, to which
<br />reference is hereby made for a description of the rentals and other
<br />income (the "Pledged Funds") pledged as security for the payment
<br />of the Bonds and interest thereon and the rights under said
<br />Agreement of the Authority, the holders of the Bonds and the
<br />Trustee, to all of which the holders hereof, by the acceptance of
<br />this Bond, agree.
<br />The Authority covenants that one business day prior to
<br />February 1 and August 1 in each year, beginning with August 1,
<br />1991, it will pay to the Trustee, prior to the due date, solely
<br />out of the Pledged Funds, an amount sufficient to pay the principal
<br />and all interest as it becomes due until all of the Bonds of this
<br />issue shall have been retired.
<br />The Bonds of this issue maturing on or after August 1, 1996,
<br />may be redeemed prior to maturity at the option of the Authority
<br />in whole or in part in whole multiples of $5,000, in inverse order
<br />of maturities and by lot within maturities, on any date not earlier
<br />than August 1, 1992, from any monies made available for that
<br />purpose, at face value plus accrued interest to the date fixed for
<br />redemption together with a premium of three percent (3~) if
<br />redeemed on August 1, 1992, or thereafter on or before July 31,
<br />2000; two percent (2~) if redeemed on August 1, 2000, or thereafter
<br />• on or before July 31, 2001, one percent (1~) if redeemed on August
<br />1, 2001, or thereafter on or before July 31, 2002; and without
<br />premium thereafter; provided notice has been given by first-class
<br />mail to the registered owners of all Bonds to be redeemed. If this
<br />Bond is so called for redemption, and payment is made to the
<br />Trustee in accordance with the terms of the Agreement, this Bond
<br />shall cease to bear interest or to be entitled to the lien of the
<br />Agreement from and after the date fixed. for the redemption in the
<br />call.
<br />In case an event of default, as defined in the Agreement,
<br />occurs, the principal of this Bond may become or may be declared
<br />due and payable prior to the stated maturity hereof, in the manner,
<br />and with the effect, and subject to the conditions provided in the
<br />Agreement.
<br />This Bond is transferable by the registered owner hereof at
<br />the principal office of Society Bank, Indiana, upon surrender and
<br />cancellation of this Bond and on presentation of a duly executed
<br />written instrument of transfer and thereupon a new Bond or Bonds
<br />of the same aggregate principal amount and maturity and in
<br />authorized denominations will be issued to the transferee or
<br />transferees in exchange therefor. This Bond may be exchanged upon
<br />surrender hereof at the principal office of Society Bank, Indiana,
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