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2012_0910_Packet as amended
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2012_0910_Packet as amended
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10/11/2012 4:19:23 PM
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3.The Series 2006 Note is hereby amended by deleting paragraph A in its entirety <br />and replacing it with the following: <br />A.Schedule of Payments. <br />Principal and interest on this Note shall be payable in 73 equal monthly <br />installments on the last day of each month commencing August, 2006 and continuing <br />thereafter until August, 2012 in such amounts as are required to fully amortize the <br />principal balance, together with accrued interest thereon at the interest rate then in effect, <br />over the remaining term of the Note (initially $7,319.83 per month) and monthly <br />payments of principal and interest shall be recomputed as of the Adjustment Date. <br />Accrued interest from September 1, 2012 to, but not including, September 17, 2012 shall <br />be payable on September 17, 2012. Principal and interest on this Note shall be payable in <br />144 equal monthly installments of $_______ on the 17th day of each month commencing <br />October, 2012 and continuing thereafter until the Final Maturity Date in such amount as <br />is necessary to pay in full the principal balance and accrued interest thereon on such date. <br />Payments shall be applied first to amounts which are neither principal nor interest, next to <br />interest due on the principal balance and thereafter to reduction of the principal balance. <br />4.The Series 2006 Note is hereby amended by deleting the third subparagraph in <br />paragraph B in its entirety and replacing it with the following: <br />On July 31, 2011 (the "Adjustment Date"), the interest rate on this Note will be <br />adjusted to a rate per annum equal to 67% of the sum of the then current rate of the <br />Treasury Constant Maturities for five year obligations as reported by the Federal Reserve <br />for the preceding month plus 271 basis points; provided, however, during the period from <br />the date hereof through September 17, 2012, the interest rate hereon shall not exceed <br />7.60% nor be less than 5.10%. On September 17, 2012, the interest rate on this Note will <br />be adjusted to a rate per annum equal to ____%. The rates adjusted on each of July 31, <br />2011 and September 17, 2012 are an “Adjusted Rate.” Except in the event of a <br />Determination of Taxability, as defined in the Loan Agreement, the annual rate of interest <br />payable hereunder shall not increase by more than 250 basis points during the term of this <br />Note. <br />5.The Series 2006 Note is hereby amended by deleting the columns in paragraph D <br />in their entirety and replacing it with the following: <br />August 1, 2006 through July 31, 2008 3.00% of the prepaid principal amount <br />August 1, 2008 through July 31, 2010 2.00% of the prepaid principal amount <br />August 1, 2010 through August 31, 2011 1.00% of the prepaid principal amount <br />September 17, 2012 through September 16, 2013 3.00% of the prepaid principal amount <br />September 17, 2013 through September 16, 2014 2.00% of the prepaid principal amount <br />September 17, 2014 through September 16, 2015 1.00% of the prepaid principal amount <br />September 17, 2015 and thereafter 0.05% of the prepaid principal amount <br />2 <br />4914323v3 <br /> <br />
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