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"Onassigned Rights" or "Unassigned Issuer's Rights" means all of the
<br />Unassigned Issuer's Rights of the Issuer under the Agreement.
<br />
<br /> "Unaudited Net Operating Income" means for each Loan Payment Date,
<br />the amount shown on the Company's accounting records for the previous month as
<br />all income of the Company from whatever source derived during the previous
<br />calendar month, excluding income derived from the sale or refinancing of the
<br />Project, less Unaudited Operating Expenses.
<br />
<br /> "Unaudited Operating Expenses" means~ for each Loan Payment Date, the
<br />amount shown on the Company's accounting records for the previous month as all
<br />amounts expended in connection with the Project during the previous month,
<br />including, without limitation, all amounts expended for maintenance, manage-
<br />ment, real estate taxes and assessments, both general and special and in-
<br />cluding delinquent real estate taxes and interest and penalties thereon, pub-
<br />lic liability, hazard and other forms of insurance, workers' compensation
<br />insurance, utility costs, supplies, reasonable reserves for repairs and main-
<br />tenance, and such other expenses as are customarily incurred in connection
<br />with the operation of similar-type projects; but excluding depreciation, debt
<br />service on the Project Bonds and amortization thereof and federal, state and
<br />local income taxes.
<br />
<br /> (B) Section 4.01 of the Original Indenture shall be deleted and in
<br />its place the following shall be substituted:
<br />
<br /> SECTION 4.01. Terms of Redemption of Pro.ject Bonds. The Project
<br />Bonds are subject to redemption prior to stated maturity as follows:
<br />
<br /> (a) Mandatory Sinking Fund Redemption. The Project
<br />Bonds are subject to mandatory redemption pursuant to man-
<br />datory sinking fund requirements, at a redemption price of
<br />100 percent of the principal amount redeemed plus interest
<br />accrued to the redemption date, on June 1 and December 1,
<br />in the following principal amounts in the years specified:
<br />
<br />Date Amount Date Amount
<br />
<br />June 1, 1988
<br />December 1, 1988
<br />June 1, 1989
<br />December 1, 1989
<br />June 1, 1990
<br />December 1, 1990
<br />June 1, 1991
<br />December 1, 1991
<br />June 1, 1992
<br />December 10 1992
<br />June 1, 1993
<br />December 1, 1993
<br />June 1, 1994
<br />December 1, 1994
<br />
<br />S25,000
<br /> 5,000
<br /> 5,000
<br /> 10,000
<br /> 10 000
<br /> 10 000
<br /> 10 000
<br /> 10 000
<br /> 10 000
<br /> 10 000
<br /> 10 000
<br /> 15 000
<br /> 15 000
<br /> 15 000
<br />
<br />June 1, 1995
<br />December 1, 1995
<br />June 1, 1996
<br />December 1, 1996
<br />June 1, 1997
<br />December 1, 1997
<br />June 1, 1998
<br />December !, 1998
<br />June 1, 1999
<br />December 1, 1999
<br />June 1, 2000
<br />December 1, 2000
<br />June 1, 2001
<br />December 1, 2001
<br />June 1, 2002
<br />
<br />$15,000
<br /> 15,000
<br /> 15,000
<br /> 20,000
<br /> 20,000
<br /> 20 000
<br /> 20 000
<br /> 25 000
<br /> 25 000
<br /> 25 000
<br /> 30 000
<br /> 30 000
<br /> 30 000
<br /> 35,000
<br /> 35,000
<br />
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