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? <br />?. <br />n:i L1.5eCa hP7.-"t'1n1 "hidtlc?IiC,?! T17i:F?C'F=ii:` 1C?f-??1-p5r oIi t112 <br />F'r.oject Borid froin ti'ie ciace at doliverv oi .,uch 3;,ric7 to ;anc3 <br />inclucling the 31 st d?Zy o:- Jar:ua?,-i "i 981 , stzch int{?rest to h2 <br />Y.)aid 1.:1 a(av<+?";C''e tO the Hold?r otl i..^e Ciat° C)C Sl1Ct"1 Ut? f.i c/ery' <br />If_ ar.y monthly i.^sta.l:lrlant is nor pai;-1 cn the date it- is <br />l_i-?I O?:' 6J:L?='f?lrl f LtCE'F'il (17) t??;?75 t:(!F'Y?:'•1F'Ct?Y.', cl Latf=' t:l1;a„?j° PC?I.'a?_ <br />t":O E1V& p?YC<'i3t. (ri ??,) Oi Si1C:11 mOi1th:111 1_C1St1l-ititF?ilt- T1CiL Sh"cill <br />,`3:' cZ:::?`d tJ `-UCIl Ii10:1t.ii S.i7 1_11Stc?lliC?:::''t:t. It 3t1y SuCll 1TI:i`?<11mE'T1L <br />not paid withir?, L. <br />hirty (30) days oP the date it is dun, <br />l?1C.eCe.'-iG t`O?" Sl.lC::ri tf21YCy_r]ay pi-?Y'10:,.' C1t1 t[?° 1--)r'1i1C1pal p0rCZC7n OF <br />4;uch un-_):-J;.d ins?-all-men,_- shall ba cu:ripl_ited at the Defal-i,_t Ra'Ce <br />!in ti l naid. <br />In the event of (i.) an1 Eai.lure to pay any interest on or <br />,?r_i;?<:i.;;a:? oF the Pr_oj-ct Bor7c3 as .ari<1 w:len the sa:.ie snal7.! becoTne <br />::?n u::1 ?aya.?lz or ;Jit?1i:? tiftec?n (15) days tilereufter; ( i i) any <br />fi--. i_ l;! r•e to pay any A.-ici i_t ional Pal:rent (as def ined in the <br />a•,i ?e?,?i?en ?: ) or La b-? Char_ge ot1 deiriariJ or srai ch in ten (10) czays <br />1. .. <br />ar ( i i i) the OCCI.IY'C c?T1Ce anc3 cont iritiat i.on oi an <br />:it cf :1efaul c" as clefin4d in ;,eCtiOrl 8.1 of the Agreeire::t, <br />c'tzN entire unpzza pri.ncipal ba1_-ance or the Project Bond, <br />t.oge;,:-,=?!r vi"ii interest accrued tnE!re():1, may be declared due arid <br />payahle by the HoldPr and, upcn sucr: c'.eclaratioi7, such pri.ncic-)al <br />and intere^` shal.l bLcomo and be imnediately due and payab:le ai: <br />tCip pY'1Ces `.-r-'t- E01"t[1 1n the "R-L'dF?;11pt7_OI"1 ;iCheClulpn, dS <br />yl?CE'i_x1a-Ft:er CieF:Li1ed, ci11C7 Lrit' llt-ipc1:l.d U2:l11Clpal C)aldI1cP_ Ol ti7E' <br />}'ri)]eCt Bp7lid S}7?i1l_ bHi?r 111teY.E_`Si: fCOill i3?ld cZ:ftE?T SFIr'11 d2Clar'd.'C1.()tl <br />a{= 'Ci?c? Default. Rate, coir.puted ciai.ly (on the oasis oF a 3100-ri??7 <br />yeai- of twelve 30-day ,non?.hs) and payable r:onthly unti.7. the <br />r'roject Band is pai.d or 5uch declarat:'.on is rescinded; prav:iu?-,d, <br />hawever, that after such declaration rxo further Late Charges <br />snai 1 be imi csed and no interest shall accrue or be payatzle w:i l:.h <br />r.espect to any Late CharGes prevYOUSly imposed. The Holder may, <br />in its discretion, rescind any declaration made pursuant to this <br />paragraph and, upon such rescission, the ISSl12Y' and the Holc3er <br />shall be restored to their respective positions hereunder_; <br />provided thai no such rescission shall. extend to any subsequen} <br />or other default hereundzr ar impair any right consequent <br />tnereon. <br />The Pr_oject Bond shall be subjec'c to redemation in whole by <br />the Issuer at. the option of_ the Corr,pany upon the occurrcnce of <br />an 2vent described in Section 7. 1( a) of the Agreement, at a <br />redemption price of 100% of the principal amount outstanc3iny <br />plu5 accriied interest tb the date of redemption. <br />In }he event the Company exercisps its opt.ion to prepay t'cie <br />n in ia l7. ar in part ntlr suar t tu Sect i:on 7. 1( b) of V.ne <br />?_gr:,?-0n??nt, ttie Proj ect r3onc7 sha', l r.:e s?ai?j ect to x-edurnp} ion. i:? <br />wh:;'_e or in part at the option of t:;2- Company prior to stated <br />7