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7. This Note may be prepaid in whole or in part at any time upon 60 days written advance notice to the Lender without premium. 8. This Note is further subject to prepayment by the City, at any time, without a premium, in whole or in part, upon the occurrence of certain events of damage, destruction or condemnation of the property secured by the Security Agreement as specified in Section 4.31 of the Loan Agreement. Also, if the Borrower receives from the Lender notice of a "Determination of Taxability" as defined in Section 4.07(2) of the Loan Agreement, the Note is subject to prepayment at option of Borrower, provided the Borrower gives at least five days written advance notice to the Lender. This Note is also subject to prepayment to the extent that there are any surplus sums held in the Construction Fund as provided under Section 4.9 of the Disbursing Agreement. 9. In the event of prepayment of this Note, the Lender shall apply any such prepayment first against the accrued interest on the Principal Balance and then against the final principal amounts due under the Note. The quarterly payments due under paragraph 1 hereof, shall continue to be due and payable in full until the entire Principal Balance and accrued interest due on this Note have been paid regardless of any partial prepayment made hereunder. 10. As provided in the Resolution and subject to certain limitations set forth therein, this Note is only transferable upon the books of the City at the office of the City Manager, by the Lender in person or by his agent duly authorized in writing, at the Lender's expense, upon surrender hereof together with a written instrument of transfer satisfactory to the City Manager, duly executed by the Lender or his duly authorized agent. Upon such transfer the City Manager will note the date of registration and the name and address of the new registered Lender in the registration blank appearing below. The City may deem and treat the person in whose name the Note is last registered upon the books of the City with such registration noted on the Note, as the absolute owner hereof, whether or not overdue, for the purpose of receiving payment of or on the account, of the Principal Balance, redemption price or interest and for all other purposes, and all such payments so made to the Lender or upon his order shall be valid and effective to satisfy and discharge the liability upon the Note to the extent of the swn or sums so paid, and the City shall not be affected by any notice to the contrary. 10