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,. PLEDGED PURSUANT TO THE TRUST INDENTURE (HEREINAFTER DEFINED AS <br />THE INDENTURE) AND FROM FUNDS DRAWN BY THE TRUSTEE UNDER THE <br />LETTER OF CREDIT. <br />This Project Bond shall not constitute the personal <br />obligation, either jointly or severally, of the members of the <br />City Council of the Issuer or of any officer, employee or <br />official of the Issuer. <br />This Project Bond shall not be entitled to any security or <br />benefit under the Indenture or be valid or become obligatory for <br />any purpose until the certificate of authentication hereon shall <br />have been signed. <br />REFERENCE IS MADE TO THE FURTHER PROVISIONS OF THIS PROJECT <br />BOND SET FORTH ON THE REVERSE SIDE. THOSE PROVISIONS SHALL HAVE <br />THE SAME EFFECT FOR ALL PURPOSES AS IF SET FORTH HERE. <br />It is certified and recited that there have been performed <br />and have happened in regular and due form, as required by law, <br />all acts and conditions necessary to be done or performed by the <br />Issuer or to have happened (i) precedent to and in the issuing of <br />the Project Bonds in order to make them legal, valid and binding <br />special obligations of the Issuer, and (ii) precedent to and in <br />the execution and delivery of the Indenture and the Agreement; <br />that payment in full for the Project Bonds has been received; and <br />that the Project Bonds do not exceed or violate any <br />constitutional or statutory limitation. <br />IN WITNESS OF THE ABOVE, the Issuer has caused this Project <br />Bond to be executed in the name of the Issuer by the manual or <br />facsimile signatures of the Mayor and the Director of Finance of <br />the Issuer, and the official seal of the County Auditor to be <br />impressed hereon or a facsimile thereof to be placed hereon, as <br />of the date shown above. <br />City of North Olmsted, Ohio <br />c <br />By <br />Yv ne Petrigac, Ma <br />By- <br />Edward Boyle <br />Director of Finance <br />[SEAL] <br />Registrable <br />The Central <br />Cincinnati, <br />Payable by: <br />The Central <br />Cincinnati, <br />at: <br />Trust Company, N.A. <br />Ohio <br />Trust Company, N.A. <br />Ohio <br />-3- <br />