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88-87 Amend 116-84
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88-87 Amend 116-84
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Last modified
5/14/2013 3:06:53 PM
Creation date
9/8/2003 6:57:10 AM
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Office Of Council
Document Type
Ordinances
Date
9/8/2003
Date Adopted
2/1/1988
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EXHIBIT A <br /> <br />[BOND FORM] <br /> <br />$1,680,000 <br /> <br />State of Ohio <br /> <br />County of Cuyahoga <br /> <br /> City of Lakewood <br />Industrial Development First Mortgage Revenue Bond <br /> (Detroit/Warren Building Project) <br /> <br />Interest Date: <br />12.95% per annum <br /> <br />Maturity Date: <br />September 1, 2002 <br /> <br />Dated as of: <br />December 1, 1987 <br /> <br /> The City of Lakewood0 Ohio (the "Issuer"), a municipal corporation <br />and political subdivision of the State of Ohio, for value received, promises <br />to pay to MFS Managed High-Yield Municipal Bond Trust, or registered assigns, <br />but solely from the sources and in the manner referred to herein the princi- <br />pal amount of ' <br /> <br />ONE MILLION SIX HUNDRED EIGHTY THOUSAND DOLLARS ($1,680,000) <br /> <br /> on the aforesaid Maturity Date, unless this Bond is called for earlier <br /> redemption, and to pay from those sources interest on the unpaid principal <br /> amount from and after , 1987 (the date of delivery and exchange <br />of this Bond and another Bond in the principal amount of $100,000 for the <br />Issuer's $1,780,000 Industrial Development First Mortgage Revenue Bonds <br />(Detroit/Warren Building Project) dated as of December 1, 1984 (the "OriEinal <br />Bonds")) at the rate of twelve and ninety-five one-hundredths per centum <br />(12.95%) per annum on June 1 and December 1 of each year, commencing June 1, <br />1988 (the "Interest Payment Dates,,), until the principal amount is paid or <br />duly provided for. This Bond will bear interest from the most recent date to <br />which interest has been paid or duly provided for or, if no interest has been <br />paid or duly provided for, from its date. THE FIRST SUPPLEMENTAL TRUST <br />INDENTURE REFERRED TO BELOW PERMITS THE PAYMENT OF INTEREST ON THE BONDS, AS <br />HEREINAFTER DEFINED, AT CERTAIN SPECIFIED RATES OR IN CERTAIN SPECIFIED <br />AMOUNTS WHICH ARE LESS THAN THE RATE OF INTEREST SET FORTH ABOVE; IF PAID AT <br />THE RATES OR IN THE AMOUNTS AND ON THE DATES REQUIRED BY SUCH FIRST SUPPLE- <br />MENTAL TRUST INDENTURE, THE PAYMENT OF INTEREST AT SUCH LESSER RATES OR IN <br />SUCH LESSER AMOUNTS SHALL NOT CONSTITUTE AN EVENT OF DEFAULT UNDER THE <br />INDENTURE, AS HEREINAFTER DEFINED, OR WITH RESPECT TO THE BONDS. SO LONG AS <br />NO EVENT OF DEFAULT HAS OCCURRED AND IS CONTINUING, ANY INTEREST DUE ON THIS <br />BOND OTHER THAN "ACCUMULATED INTEREST", AS DEFINED IN THE AGREEMENT, AFTER ANY <br />LOAN PAYMENT DATE OR AFTER PAYMENT OF THE FINAL PAYMENT, AS DEFINED IN THE <br />AGREEMENT, SHALL CEASE TO BE DUE AND SHALL NO LONGER BE AN OBLIGATION OF THE <br />ISSUER. <br /> <br /> <br />
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