6097 (EXHIBIT A - E) (2) - Laserfiche WebLink

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respect to such Certificate will, nevertheless, become due and payable on the prepayment date to the extent of the $5,000 unit or units of face value called for prepayment (and to that extent only). Interest will cease to accrue on the portion of the principal component of the Base Rentals represented by such Certificate represented by such $5,000 unit or units of face value on and after the prepayment date. If funds' sufficient for the payment of the prepayment price of such Certificates have been deposited with the Trustee and are available for the prepayment of such unit or units on the prepayment date, such Certificate will not be entitled to the benefit or security of the Indenture to the extent of the portion of its principal amount represented by such $5,000 unit or units of face value. With respect to any partial prepayment of the Certificates and unless otherwise provided in the Indenture, the particular Certificates to be prepaid will be prepaid in such order of stated payment dates as the City determines and within each stated payment date by lot or such other equitable manner as the Trustee determines. Notice of Prepayment. Official notice of any prepayment of Certificates is required to be given by the Trustee by mailing a copy of the notice at least 30 days and not more than 60 days prior to the prepayment date by first class mail to the Owner of the Certificate or Certificates to be prepaid, at the address shown on the Register on the date the notice is mailed, as more fully described in the Indenture. Acceleration If the Lease is terminated upon the occurrence of an Event of Nonappropriation or an Event of Default occurs under the Indenture and in either case the terms and conditions of the Indenture are satisfied, the principal component of Base Rentals then unpaid with respect to the Certificates will be declared immediately due and payable. If sufficient money is not available to pay in full all interest and principal then due with respect to the Certificates, the Trustee will, after the payment of costs and expenses related to exercising remedies under the Indenture, apply all available money first to the payment of all interest due with respect to the Certificates, pro rata if necessary, and second to the payment of the principal due with respect to the Certificates, pro rata if necessary. See "RISK FACTORS AND INVESTMENT CONSIDERATIONS" below and "SUMMARY OF CERTAIN PROVISIONS OF THE INDENTURE -- Events of Default" and "-- Remedies Upon an Event of Default or Event of Nonappropriation" in Appendix A hereto. PLAN OF FINANCING The Project The Project consists of constructing and equipping a three-story, 120-space parking facility on a City- owned lot in the area of the City known as the "Loop Business District." The parking facility will serve to meet the increasing demand for parking created by the new commercial development in the Loop Business District. The Project will also contain 6,000 square feet of retail space on the ground floor of the parking facility. The total development cost of the Project is estimated to be $2,210,000. The parking related costs of the development will be financed with proceeds of the Certificates and with $500,000 of the proceeds of the City's General Obligation Bonds, Series 1994, dated June 1, 1994 (the "1994 Bonds"), which were approved by the voters to complete restoration of the Loop Business District. The costs associated with the retail space in the development are estimated to be $460,000 and will be financed with the proceeds of a $100,000 loan to the City from the University City Industrial Development Authority (the "IDA Loan") and with other lawfully available funds of the City. -7-