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The Bonds will be available only in fully registered form. The Bonds are issuable in denominations of
<br />• $100,000 and any integral multiple thereof (except for one Bond issuable in any amount greater than $100,000) for
<br />any Bond operating in a Weekly Mode or an Adjustable Long .Mode, and in denominations of $5,000 and any
<br />integral multiple thereof for any Bond operating in a Fixed Mode. The person in whose name any Bond is registered
<br />will be deemed and regarded as the absolute owner thereof for all purposes, and payment by the Trustee or the
<br />Tender Agent (initially, the Trustee) of either principal of, premium, if any, or interest on any Bond or purchase
<br />price thereof will be made only to or upon the written order of the registered owner thereof or such registered
<br />owner's legal representative. The Authority, the Trustee, the Tender Agent, the Remarketing Agent, the Credit
<br />Facility Issuer and any Paying Agent shall be entitled to treat the registered owners of the Bonds, as their names
<br />appear on the Bond Register as of the appropriate dates, as the owners of such Bonds for all purposes under the
<br />Indenture.
<br />The principal of and premium, if any, on Bonds bearing interest at a Weekly Rate or an Adjustable Long
<br />Rate will be payable at the Principal Office of the Tender Agent, upon presentation and surrender of such Bonds.
<br />The principal of and premium, if any, on Bonds bearing interest at a Fixed Rate will be payable at the Principal
<br />Office of the Trustee or, at the option of the owner, at the Principal Office of any Paying Agent, if any, named in
<br />any such Bond, upon presentation and surrender of such Bonds. Any payment of the purchase price of a Tendered
<br />Bond will be payable at the Principal Office of the Tender Agent, upon presentation and surrender of such Bond.
<br />See "THE BONDS--Purchase of Bonds on Demand of a Bondholder. "
<br />The payment of interest on the Bonds will be paid on the applicable Interest Payment Date to the person
<br />appearing on the Bond Register as the registered owner thereof as of the close of business of the Trustee on the
<br />Record Date at the address of such owner as it appears on the Bond Register or at such other address as is furnished
<br />to the Trustee in writing by such owner not later than the Record Date. Payment of interest on any Bond will be
<br />made to any owner of $1,000,000 or more in aggregate principal amount of such Bonds by wire transfer to such
<br />owner on such Interest Payment Date upon written notice from such owner containing the wire transfer address
<br />• within the continental United States to which such owner wishes to have such wire directed, which written notice
<br />is received not later than the Business Day next preceding the applicable Record Date. Notwithstanding anything
<br />herein to the contrary, payment of interest on Bonds which, as of the Record Date for the applicable Interest
<br />Payment Date, constitute Pledged Bonds, will be made by wire transfer to the Principal Office of the Credit Facility
<br />Issuer and payment of Defaulted Interest will be made as provided for in the Indenture.
<br />The Trustee shall keep the registration books for the Bonds at its Principal Office, initially located at 112
<br />W. Jefferson Blvd., South Bend, Indiana 46601.
<br />Bond Registration and Transfers
<br />Subject to the limitations described below, the Bonds are transferable upon surrender thereof at the
<br />Principal Office of the Trustee, duly endorsed by, or accompanied by a written instrument or instruments of transfer
<br />in form satisfactory to the Trustee and duly executed by the Bondholder or such Bondholder's attorney duly
<br />authorized in writing. Subject to the limitations described below, Bonds may be exchanged at the Principal Office
<br />of the Trustee upon surrender thereof, together with an assignment duly executed by the registered owner thereof
<br />or such owner's attorney in such form and with guarantee of signature as shall be satisfactory to the Trustee for an
<br />equal aggregate principal amount of Bonds of like date and tenor of any Authorized Denomination as the Bonds
<br />surrendered for exchange. The Trustee and the Authority may charge a fee sufficient to cover any .tax, fee or other
<br />governmental charge in connection with any transfer or exchange of Bonds, except in the case of an issuance of any
<br />Bond for the unredeemed portion of a Bond surrendered for redemption in part. Subsequent to the Conversion Date
<br />for any Bond, the Trustee shall not be required to transfer or exchange such Bond during the period commencing
<br />on the Record Date next preceding any Interest Payment Date nor to transfer or exchange such Bond after the
<br />mailing of notice calling such Bond for redemption has been made, nor during the period of 15 days next preceding
<br />the giving of notice of redemption. Prior to the Conversion Date applicable to any Bonds, the Trustee or the Tender
<br />Agent shall not be required to exchange or register the transfer of such Bonds selected, called or being called for
<br />redemption in whole or in part or after the mailing of notice calling such Bond for redemption has been made,
<br />except that the Authority and the Trustee shall be required to register the transfer of Tendered Bonds after such date
<br />~~ of mailing of notice of redemption.
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