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.?, <br />4 <br />"Excess Construction Proceeds" means the diiference <br />betwee n(a) the sum of (i) the proceecis of the Bonds <br />deposited into the Construction Sub-Account of the <br />Project Fund, plus (ii) any investment earninqs <br />thereon, and (b) the amount budgetect by the Borrower <br />as necessary for tne construction of Project <br />facilities. <br />"Excess Proceeds" means the sum of all moneys on <br />deposit in the Project Fund on the date specified in <br />Section 6.2 of the Loan Agreement. <br />"Executive" means the Mayor of the Issuer. <br />"Fiscal Officer" means tne Director of Finance of the <br />Issuer. <br />"Guarantor" means Boss Concrete, Inc., an Ohio <br />corporation, its successors and assiqns. <br />"Guaranty Aqreement" means the Guaranty Aqreement <br />dated as of July l, 1986 executeci by the Guarantor and <br />accepted by the Trustee, and any permittect amendments <br />or supplements thereto. <br />"Indenture" means the Trust Indenture dated as of <br />July 1, 1986, between the Issuer and the Trustee, <br />includinq this Bonc1 Leqislation as a part thereof, and <br />any permitted amendments or supplements thereto. <br />"Interest Payment Date" or "interest <br />means, with respect to the Note, the fi <br />calendar month commencing September 1, <br />respect to the Boncfs, the first day of <br />September, commencing March 1, 1987 <br />semiannually tnereafter. <br />payment date" <br />rst day of each <br />1986 and, with <br />each March and <br />and continuing <br />"Interest Rate for Advances" means 17% per annum, <br />provided that in no event shall the Interest Rate for <br />Advances exceed the amount permitte(i by law. <br />"Issuing Authority" means the Council of the Issuer. <br />"Mortgage" means <br />Agreement dated <br />Borrowers grant <br />payment of the Ni <br />security interest <br />and any permitted <br />the Open-End Mortgaqe and Security <br />as of July 1, 1986, whereby the <br />to the Trustee, as security for <br />:)te and the Bonds, a mortgaqe on and <br />in the Project and the Project Site, <br />amendments or supplements thereto. <br />"Note" means the Promissory Note, in the form attached <br />as Exhibit C to the Loan Agreement, issued by the <br />Borrowers to the Issuer concurrent with the delivery <br />of the Loan Aqreement. <br />-5-