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?.. ;? <br />(ii) Project Bond No. 2($750,000 principal amount) <br />(A) one installment of interest only <br />(computed on the actual number of days elapsed <br />from the Issuance Date and on the basis of a <br />365-day year) payable on the first day of the <br />first month following the Issuance Date; <br />(B) 298 equal installments, each in the <br />amount of $8,593.88 and each including prin- <br />cipal and interest (computed on the basis of a <br />360-day year of twelve 30-day months) payable <br />on the first day of the second month following <br />the Issuance Date and on the first day of each <br />successive month thereaf ter to and including <br />September 1, 2008; and <br />(C) one final installment, payable on <br />October 1, 2008, in an amount equal to the <br />sum of the then outstanding principal balance <br />of and interest accrued (computed on the basis <br />of a 360-day year of twelve 30-day months) on <br />Project• Bond No. 2. <br />(iii) Project Bond No. 3($250,000 principal amount) <br />(A) one installment of interest only <br />(computed on the actual number of days elapsed <br />from the Issuance Date and on the basis of a <br />365-day year) payable on the first day of the <br />first month following the Issuance Date; <br />(B) 298 equal installments, each in the <br />amount of $2,864.62 and each including princi- <br />pal, and interest (computed on the basis of a <br />360-day year of twelve 30-day months) payable <br />on the first day of the second month following <br />the Issuance Date and on the first day of each <br />successive month thereaf ter to and incl uding <br />September 1, 2008; and <br />(C) one final installment, payable on <br />October 1, 2008, in an amount equal to the <br />sum of the then outstanding principal balance <br />of and interest accrued (computed on the basis <br />of a 360-day year of twelve 30-day months) on <br />Project Bond No. 3. <br />(d) Adjustment of Interest Rate. The interest rate on <br />the Project Bonds shall be adjusted to the Formula Rate (as <br />hereinafter def ined) , such adj ustment (the "Adj ustment" ) to <br />be effective on October l, 1988, on October l, 1993, on <br />October 1, 1998 and on Octaber 1, 2003 provided, however, <br />8