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Any reference herein to the Issuer, the Issuing
<br />Authority, the Trustee, or to any officer or official thereof,
<br />shall include those succeeding to their respective functions,
<br />duties or responsibilities pursuant to or by operation of law
<br />or who are lawfully performing such functions. Any reference
<br />herein to any other person or entity shall include his or its
<br />respective successors and assigns. Any reference to a section
<br />or provision of the Code, the Ohio Constitution or the A ct or
<br />to a section, provision or chapter of the Ohio Revised Code
<br />shall include such section or provision or chapter as from time
<br />to time amended, modified, revised, supplemented, or
<br />superseded; provided, however, that no such change shall alter
<br />the obligation to pay the Bond Service Charges in the amounts
<br />and manner, at the times, and from the sources provided in this
<br />Bond Legislation and the Indenture, except as otherwise herein
<br />permitted, or shall be deemed applicable by reason of this
<br />provision if such change would in any way constitute an
<br />impairment of the rights of the Issuer or the Borrower under
<br />the Agreement.
<br />Unless the context shall otherwise indicate, words
<br />importing the singular number shall include the plural number,
<br />and vice versa, any pronoun shall be deemed to cover all
<br />genders, and the terms "herein", "hereof", "hereby", "hereto",
<br />"hereunder", and similar terms, mean this Bond Legislation and
<br />the Indenture and not solely the portion hereof in which any
<br />such word is used.
<br />Section 2. Determinations of Issuina Authoritv.
<br />Pursuant to Section 165.03 of the Act, the Issuing Authority
<br />hereby finds and determines that the Project is a"project" as
<br />defined in the Act and is consistent with the provisions of
<br />Section 13 of Article VIII, Ohio Constitution.
<br />Section 3. Authorization of Bonds. It is hereby
<br />determined to be neces'sary to, and the Issuer shall, issue,
<br />sell and deliver, as provided herein and pursuant to the
<br />authority of the Act, the B onds in the aggregate principal
<br />amount of $430,000 for the purpose of financing costs of
<br />constructing, installing and equipping the Project, including
<br />costs incidental thereto and of the financing thereof, ali in
<br />accordance with the provisions of the Loan Agreement and the
<br />Bond Purchase Agreement. The Bonds shall be designated
<br />"Industrial Development Revenue Bonds (Carriage Carpet Co.
<br />Project)".
<br />Section 4. Terms of the Bonds. The Bonds shall be
<br />issued only in fully registeredform in the denomination of
<br />$5,000 and any integral multiple thereof. The Bonds shall be
<br />initially issued in the name of the Original Purchaser, dated
<br />as of the date of their initial delivery to the Original
<br />P urchaser, in such denominations as shall be requested by the
<br />Original Purchaser, and in substantially the form set forth
<br />therefor in the Indenture. The B onds shall mature on March 11
<br />2005, subject to amortization and prior redemption. Upon any
<br />exchange or transfer and surrender of any Bond in accordance
<br />with the provisions of the Indenture, the Issuer shall execute
<br />and the Trustee shall authenticate and deliver one or more new
<br />Bonds in exchange therefor as provided in the Indenture. Any
<br />such new fully registered B ond shall be dated as of the
<br />interest payment date next preceding the date of its
<br />authentication, except that if authenticated on an interest
<br />payment date, it shall be dated as of such datie of
<br />authentication; provided that if at the time of authentication
<br />interest thereon is in def ault, it shall be dated as of the
<br />date to which interest has been paid. E ach Bond shall be of a
<br />single maturity, except as otherwise provided in the
<br />Indenture. The B onds shall be numbered consecutively from R-1
<br />upwards in order of issuance.
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