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ARTICLE V <br />PREPAYMENT OF LOAN <br />Section 5.1 Pre a ent at O iion of Borrower. The Borrower �nay at its aption <br />prepay the Loan, in whale oz in part, on any date, by paying the principal and interest then due, <br />and without premium or penalty. Any partial prepayment s�all be applied first to amounts which <br />are neither principal nar interesi, and next to the interest accrued on the Note and finally shall be <br />applied againsi ihe principal portion of the installments due under �his Agreement in inverse <br />order of maiurity. At the date fixed for prepayment, funds shall be paid ta ihe Lender at its <br />registered address appear�ng an the Note. Tn the e�rent the Borrower elecis to prepay the Loan, <br />the Borrower shall cause to be given in the name of the City notice af redemp�ion or prepaymeni <br />of the Note �to the Lender by f rst-class mail, addressed to ihe Lender ai its registered address, not <br />less ihan thirty (30} days pr�or io the date fixed for prepayment, and shall pay ihe prepayrnent <br />pr�ce when due ta the Lender. The City hereby authorizes the Borrower to give mailed natice af <br />prepayment and, ii required by lavv, published notice af prepayment of the Note in the name of <br />the City, fram time to time. <br />If the Borrawer so requests and if partial prepayxr�ent is in excess of 5.00% of the <br />outstanding principal balance of the Note on the date of a partial pr�payment of the Note, the <br />installnrients thereunder wi11 be adjusted to amortize the tl�en outsianding principal amount over <br />the remaining term of the Note, payable commencing with the next insta�lment due after such <br />parepayment. <br />2208$45vA 1 9 <br />