Agenda - Council - 07/12/2022 - Laserfiche WebLink

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in accordance with their terms and provisions and the terms and provisions of the Indenture; (ii) pay the fees and expenses of the Trustee and any paying agents properly payable under the Indenture; and (iii) pay certain expenses of the Issuer related to the issuance of the Series 2022 Bonds. The Company has granted a lien on the School Facilities to the Trustee, pursuant to a Mortgage, Security Document, and Assignment of Rents, dated as of September 1, 2022 (the "Mortgage"), between the Company and the Trustee, to secure the obligations under the Loan Agreement and the Indenture. Copies of the Loan Agreement and the Mortgage are on file at the designated corporate trust office of the Trustee, and reference is hereby made to the Loan Agreement and the Mortgage for the provisions thereof. THIS SERIES 2022A BOND SHALL BE PAYABLE SOLELY FROM REVENUES DERIVED FROM THE SALE, OPERATION, OR LEASING OF THE SCHOOL FACILITIES AND THE PAYMENTS RECEIVED UNDER THE LOAN AGREEMENT AND, UPON AN EVENT OF DEFAULT, THE MORTGAGE. NEITHER THE FULL FAITH AND CREDIT NOR THE TAXING POWER OF THE ISSUER, THE STATE OF MINNESOTA (THE "STATE"), OR ANY POLITICAL SUBDIVISION OR AGENCY THEREOF IS PLEDGED TO THE PAYMENT OF THE PRINCIPAL OF, PREMIUM, IF ANY, OR INTEREST ON THIS SERIES 2022A BOND. The Series 2022 Bonds are all issued under and are equally and ratably secured by and entitled to the protection of an Indenture of Trust, dated as of September 1, 2022 (as from time to time amended and supplemented, the "Indenture"), between the Issuer and the Trustee, duly executed and delivered by the Issuer to the Trustee and pursuant to which all payments due from the Company to the Issuer under the Loan Agreement are assigned to the Trustee to secure the payment of the principal of,premium, if any, and interest on the Series 2022 Bonds. Reference is hereby made to the Indenture for a description of the property pledged and assigned,the provisions, among others,with respect to the nature and extent of the security,the rights,duties and obligations of the Issuer, the Trustee, and the Bondholders of the Series 2022A Bonds and the terms upon which the Series 2022A Bonds are issued and secured. The Series 2022A Bonds are issuable in fully registered form, in minimum denominations of $5,000 or any integral multiple of $5,000 in excess thereof. This Series 2022A Bond is transferable by the Bondholder hereof in person or by its attorney duly authorized in writing at the designated corporate trust office of the Trustee in Saint Paul, Minnesota, but only in the manner, subject to the limitations and upon payment of the charges provided in the Indenture, and upon surrender and cancellation of this Series 2022A Bond. Upon such transfer a new registered Series 2022A Bond or Series 2022A Bonds of the same series, date, interest rate, and maturity and of authorized denomination or denominations for the same aggregate principal amount will be issued to the transferee in exchange therefor. The Issuer and the Trustee and any paying agents may deem and treat the Bondholder hereof as the absolute owner hereof(whether or not this Series 2022A Bond shall be overdue) for the purpose of receiving payment of or on account of principal hereof and premium, if any, and interest due hereon and for all other purposes, and neither the Issuer nor the Trustee shall be affected by any notice to the contrary. The Series 2022 Bonds shall be callable at any time upon the occurrence of any of the following: (1) the School Facilities or any portion thereof is damaged or destroyed or taken in a condemnation proceeding to which Section 6.2(b) of the Loan Agreement is applicable; or(2) any A-3 735810810