7A Request from Presbyterian Homes for Conduit Financing

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_ __ __ 11. In the eveni of prepayment of this Note, the Lender shall apply any such prepayment againsi ihe accrued interesi on the Principal Balar�ce and thean against the fmal principal aznounts due under the Note. The semiannual payments due under paragraph 3 hereof, shall continue to be due and payable in full �til the entire Pr�ncipal Balance, accrued interest and any premium due on this Note have been paid. 12. Upon a Deternlination of Taxability, as deiined in the Loan Agreement axid Mortgage, this Note shall canvert �o a taxable obiigation and the interest rate for interest payable comrnencing the � day of the following month shall be adjusted to an interest rate per annu3n equal to the Initial Rate or the Adjusted Rate in effect plus _ basis poinis {the "Ta�able Rate") on the date of the Dete�nination of Ta�ability. The interest z-ate shall �hereafter be adjusted on each Adjustment Date to the T�able Rate in effec� on such date. Ali adjustiments to ih� interest rate shall be made ar�d become effective as of each Adjusiment Date and the int�rest rate as adjusted shall remain in effect until and including the day irnmediately preceding the next Adjust7nent Date. �3. As provided in the Resoluiion and subject to certain lirnitations sei forth therein, this Note is only transferable upon the books of the City at the office of the City Adrninistrator, by the Lender in person or by its agent duly authorized in writing, at the Lender's expense, upon surrender hereof togeiher with a written instrument of transfer sa�i�factory to ihe City Administrator, duly ��ecuted by the Lender ar its duly authorized agent. Upon such transfer ihe Ciiy Adminisiratar will note the date of registration axid the narne and address of the new registered owner in the registratian blank appearing below. The City may deem and treat the person in vvhose name the Note is last registered upon the books of the City with such registration noted on ihe Note, as the absolute owner hereof, whether or noi averdue, far the purpose oi receiving payment o� or on the accou�� of the Principal Balance, rEdemption price or interest and for all other purposes, and a11 such payments so made to the L�nder or upon his order shall be valid and effective to satisfy and discharge the liability upon the Note to the ext�nt of the sum or sums so paid, and the City shall not be affected by any notice to the contrary. 14. All of the agreements, conditions, covenants, provisions and stipulations contained in the Resolution, the Mortgage, the Loan Agreement and the Pledge Agreernent are hereby made a part of this Noie to the sa�ne extent at�d with the same fozce and effect as if they were fully set forth herein. 15. This Note and interest thereon and any service charge or prezniuin due hereunder are payable soiely from the revenues and proceeds derived from the Loan Agreement and the Mortgage and do not constitute a debt of the City within the mea�ing of any constitutional or statutory limitatian, are not payable from or a charge upon any fi�nds ather than the revenue� and proceeds pledged to �he payment thereof, and do not give rise to a pecuniary �iability of the City or any of its offzcers, agents ar employees, and no holder of this Note shall evez- have the right ta compel any exercise of the taxin.g power of ihe City to pay this Note or the interest ihereon, or to enforce payment thereof against any property of the City, and ihis Note does not constitute a charge, lien ar encumbrance, �egal ar equitable, upon any property of the City, and the agreement of the City to perform or cause the performance of the covenants and ot�er provisions herein referred io shall be subject at ail iimes io the availabiliiy of revenues ar other funds f�xrnished far aaosa3ovz 3