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Home My Public Portal AboutORD11705 fly BILL NO. 91-151 SPONSORED BY COUNCILMAN HALSEY ORDINANCE NO. 11705 AN ORDINANCE AUTHORIZING THE CITY OF JEFFERSON, MISSOURI, TO ISSUE $3,575,000 PRINCIPAL AMOUNT OF INDUSTRIAL REFUNDING REVENUE BONDS, SERIES 1992 (SCHOLASTIC INC. PROJECT), FOR THE PURPOSE OF REFUNDING AND REDEEMING ALL OF THE OUTSTANDING INDUSTRIAL REVENUE BONDS, SERIES 1983 (SCHOLASTIC INC. PROJECT) ISSUED TO PROVIDE FUNDS TO PAY THE COSTS OF PURCHASING AND, CONSTRUCTING A PROJECT FOR SCHOLASTIC INC., A NEW YORK CORPORATION; AUTHORIZING THE ISSUER TO ENTER INTO A TRUST INDENTURE AND A LEASE AGREEMENT IN CONNECTION WITH THE ISSUANCE OF SAID BONDS;AND APPROVING CERTAIN OTHER DOCUMENTS AND AUTHORIZING THE ISSUER TO TAKE CERTAIN OTHER ACTIONS IN CONNECTION WITH THE ISSUANCE OF SAID BONDS. WHEREAS, the City of Jefferson, Missouri (the "Issuer"), is authorized and empowered pursuant to the provisions of Article VI, Section 27 of the Missouri • Constitution,as amended, and Sections 100,010 to 100.200,inclusive, of the Missouri Revised Statutes, as amended(the "Act"), to purchase, construct, extend and improve certain projects (as defined in the Act), and to issue revenue bonds for the purpose of W providing funds to pay the costs of such projects and to lease or sell such projects to others, (ii) loaning the proceeds of such bonds to others to provide funds to pay the costs of such projects, and to pledge the rents, revenues and receipts from such projects as security for the payment of the principal of, premium, if any, and interest on such bonds, or (iii) refunding revenue bonds previously issued by the Issuer; and WHEREAS, pursuant to the Act, the governing body of the Issuer adopted an Ordinance on April 19, 1983, authorizing the Issuer to issue, and the Issuer did issue on April 27, 1983 its Industrial Revenue Bonds, Series 1983 (Scholastic Inc. Project), in the principal amount of$4,500,000 (the, "Series 1983 Bonds"); and WHEREAS, the Issuer caused the proceeds of the Series 1983 Bonds to be used for the purpose of purchasing and constructing an industrial development project, consisting of a processing plant and distribution center located in Jefferson City, Missouri, including real estate, buildings, improvements, fixtures, machinery and equipment (the "Project"); and WHEREAS, the Issuer leased the Project to Scholastic Inc., a New York corporation(the "Company"), pursuant to the terms of the Lease Agreement dated as of April 1, 1983 pursuant to which the Company was required to pay rentals in amounts sufficient to pay the principal, interest and redemption premium on the r:Wifi•. 4 SZ *Yd'�5 A{,^••1 i' i y`l! k•t j' t..:_Tm�s. i..,.___,.�� .Y. Y,r ��•:..ti '/ .+j.�+jfY'hyh3m5�rhl4t ��/'Y" :10 'T✓„r�r tR ;.'sl4i _ � ,�}Y.: 1K;� T �' � t'R!14 tk 1l ti .f. 'rt} Y' I' 'vl,r t h�M. �';�� ;�7'S t{;a.,S�l { Yi)r Ain 'fi of .= Series 1983 Bonds; and .Yi. WHEREAS the Company has requested that the Issuer issue a new series of industrial revenue bonds for the purpose of refunding and redeeming all of the f Outstanding Series 1983 Bonds on April 1, 1992; WHEREAS, the City Council of the Issuer does now find and determine that it is desirable for the improvement of the economic welfare and development of the ;t City of Jefferson, Missouri, and its people, and that it is within the authority and public purposes of the Act, that the Issuer issue its Industrial Refunding Revenue Bonds, Series 1992 (Scholastic Inc. Project), in the principal amount of $3,575,000 ` (the "Bonds"), for the purpose of refunding nd redeeming ll of the Outstanding 1 p g g p tea Series 1983 Bonds; and l WHEREAS, the City Council of the Issuer further finds and determines that „ .c it is necessary and desirable in connection. with the issuance of the Bonds that the Issuer enter into the following documents, copies of which documents have been presented to this meeting and shall be filed with the records of the Issuer: .$ (a) Trust Indenture dated as of February 1, 1992 (the "Indenture'), i :u between the Issuer and The Central Trust Bank, Jefferson City, Missouri (the "Trustee"), pursuant to which the Bonds will be issued and secured as y hereinafter provided; and (b)Lease Agreement dated as of February 1, 1992 (the "Lease'),between the Issuer and the Company under which the Issuer will cause the proceeds of the Bonds to be applied to refund and redeem all of the Outstanding Series > 1983 Bonds. WHEREAS, the City Council of the Issuer further finds and determines that it is necessary and desirable in connection with the issuance of the Bonds that the Issuer take certain other actions and approve the execution of certain other documents as herein provided; „ NOW, THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE CITY OF JEFFERSON, MISSOURI, AS FOLLOWS: Section I. Authorization of the Bonds. The Issuer is hereby authorized to issue and sell its Industrial Refunding Revenue Bonds,Series 1992 (Scholastic Inc. Project), for the purpose of refunding and redeeming all of the Outstanding Series 1983 Bonds on April 1, 1992. The Bonds shall bear such dates, shall mature at such times and in the amounts, shall be in such denominations, shall bear interest at such rates, shall be in such forms, shall be subject to redemption, shall have such other terms and provisions, and shall be issued, executed and delivered in such manner subject to such provisions, covenants and agreements, as are set forth in the Indenture. t. Sy i Y t r , ....A„R, ..�,r,,..a ra,:;r.:s- .: . :..s.4r.s`�..: ::.� n :d.-v'z..:.,.J..i�fi ..-.' :;','a:�s s5c:rrrn r+k.' '"t`h:.•dt nr r ..' tw,t ��PT,t't �!� Sf>zs• Section 2. Limited Obligations. The Bonds and the interest thereon shall r be special limited obligations of the Issuer payable solely out of the rents, revenues and receipts derived by the Issuer from the Project, and such rents, revenues and receipts shall be pledged and assigned to the Trustee as security for the payment of the Bonds as provided in the Indenture. The Bonds and the interest thereon shall not be a debt of the City of Jefferson or the State of Missouri, and neither said City nor `a said State shall be liable thereon, and the Bonds shall not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction. Section 3. Authorization of Trust Indenture. The Issuer is hereby authorized to enter into the Indenture dated as of February� 1, 1992, in substantially ' the form attached to this Ordinance and marked Exhibit "A", under which the Bonds F shall be issued and the Issuer shall pledge and assign the rents r ; = � revenues and receipts derived from the Project to the Trustee for the benefit and security of the holders of the Bonds upon the terms and conditions as set forth in said form of Indenture, submitted to and reviewed by the City Council of the Issuer on the date hereof, with such changes therein as shall be approved by the officers of the Issuer ' a g executing the Indenture, such officers' signatures thereon being conclusive evidence of their approval thereof. Section 4. Authorization of Lease Agreement. The Issuer is her eby authorized to enter into the Lease, dated as of February 1, 1992, in substantially the ¢ X form attached to this Ordinance and marked Exhibit "B", under which the Issuer k shall lease the Project to the Company upon the terms and conditions as set forth in said form of Lease, submitted to and reviewed by the City Council of the Issuer on the date hereof, with such changes therein as shall be approved by the officers of the 5 Issuer executing the Lease,such officers signatures thereon being conclusive evidence of their approval thereof. Section 6. Approval of Guaranty Agreement. The Guaranty Agreement, dated as of February 1., 1992, pursuant to which Scholastic Inc., a New York corporation, unconditionally guarantees to the Trustee, for the benefit of the bondholders, the payment of the principal of, premium, if any, and interest on the Bonds, is hereby approved in the form attached to this Ordinance and marked Exhibit IM which Guaranty Agreement the Trustee is authorized to accept. Section 6. Execution of Bonds and Documents. The Mayor of the Issuer is hereby authorized and directed to execute the Bonds and to deliver the Bonds to the Trustee for authentication for and on behalf of and as the act and deed of the Issuer in the manner provided in the Indenture. The Mayor of the Issuer is hereby authorized and directed to execute and deliver the Indenture and the Lease for and on behalf of and as the act and deed of the Issuer. The City Clerk of the Issuer is hereby authorized and directed to attest to the Bonds, the Indenture and the Lease and to such other documents, certificates and instruments as may be necessary or qW desirable to carry out and comply with the intent of this Ordinance. Wo... .L f rT" A a:oV'1n 3'' p il� rS.b j ,nJt w •.4 ,a- w ' t �e.t"{'�'� l lati'•.�.n;t W,��.r"::�:�i�r ii. �r c�• u •"ttS � 5 =L t �rc•(�"t� Sys Ti`R�,r� .tb'�jk�d Y 1.yµ'Nr I��4 Ib }f t!,,�, ��X�S�}1i:�t��rt t �rT� �} +4 t�# {G'4�'Jrt 1�L' ��r. r�.�,,,° '�•'�. Js e Fta �3 r F tr'�s^7 �It ht�� n9 Ali ktrf fE' P1.iry„t .t. ' �i=u. • `, ' .r 4 d� Yi9 , ,• }�ja#. Ju�� h'/1®r, s5 :tom i s°,. q! 'i• �r y,y?.A,#t� � ti � c n� .�r r �' u t y�r�;�s c[ #. j` '`� byzr S`t1°sFt`.c p/ d, r� -. . :i�1� ° � F f`;45?��`a��r�af sn�+ � ,fief r f ,j, Rx � ttY.• , k�`� a1 {r�>�'yy^ L4.; c:r�t,*�ff� r �s; a r 'r. lei�� F�'• .d a t Ir I I A. a ' fa•h � 4 Y 1r } r 7 � .rC ��J.�A' ^.� ? 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K�{r.�z_�t.;,�G '�,'t}. !,•c$r'+�y..SU•�;.. r,3r:tN�. ,;d #rrR.G;5 1 �i t } i +, r..•. :at€�$ } r ...i� }S.sy x 'tl?t.,VR I y,4„SY..(� k't{,r. }��' }• 't,"4%ti. �k eta rfir� Mtl(�':'� tl�f�X4,r�i.�c n�c.+.J .t tri� le,��>e �c +�.. , S 1 t •�, '.t j 4 . . .... ,. _ .. .rC _ .L.:MMIK+JF,4ii•�ai__dY.:.:Gu:1.': TRUST INDENTURE Table of Contents Page Parties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I Recitals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I Granting Clauses 2 ARTICLE I DEFINITIONS Section 101. Definitions of Words and Terms . . . . . . . . . . . . . 4 Section 102 . Rules of Interpretation . . . . . . . . . . . . . . . . . . . . 9 ARTICLE II THE BONDS Section 201. Title and Amount of Bonds . . . . . . . . . . . . . . . . . . 10 Section 202 . Limited Nature of Obligations . . . . . . . . . . . . . . 10 Section 203 . Denomination, Numbering and Dating of Bonds . . . . . . . . . . . . . . 11 Section 204 . Method and Place of Paym e nt f Bon . . . . . . 11 Section 205 . Execution and Authentication of Bonds . . . . . . 12 kr Section 206 . Registration, Transfer and Exchange of Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Section 207. Persons Deemed Owners of Bondso.a; . : . : . . . . . . 13 Section 208. Authorization of Series 1992 Bonds . . . . . . . 13 Section 209 . Authorization of Additional Bonds . . . . . . . . . . 15 Section 210. Temporary Bonds . . . ' * * * ' Section 211. Mutilated, Lost, Stolen y d B nds 18 Section 212 . Cancellation and Destruction of Bonds upon Payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 ARTICLE III REDEMPTION OF BONDS Section 301. Redemption of Bonds Generally . . . . . . . . . . . . . . 19 Section 302. Redemption of Series 1992 Bonds . . . . 19 Section 303. Selection of Bonds to Be Redeemed : : : : * : . . . . 21 Section 304. Trustee's Duty to Redeem Bonds . . . . . . . : . . . . . 21 Section 305. Notice of Redemption . . . . . . . . . . . . . . . . . . . . . . . 22 Section 306. Effect of Call for Redemption . . . . . . . . . . . . . . 22 iwonlo'I a� V �i'�?,a�`";'�•`"" °' rt sX'J.a .t.. j ', r' i .. . . , ..•ri ; 41.nt '�' ,r'. �,t (yaaaa(((( „•;7i? +' }t'c s`s'•�is i,l,j, jr '-lt'L•$ t" t Jt 1.,'y'; ,.;; ,#f ,.ta�.�.r 3; t: i t. <t (x• /e"a }j,?.r�1a;`'�+i":�Z 'r ARTICLE IV FORM OF BONDS Section 401. Forms Generally . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 i Section 402 . Form of Full Registered Bonds 24 Form y g ` Section 403 . Form of Certificate of Authentication . . . . , . 32 ARTICLE V CUSTODY AND APPLICATION OF BOND PROCEEDS AND OTHER MONEYS !f ¢ ' Section 501. Creation of the Refunding Fund . . . . . . . . . . . . . 33 Section 502. Deposits into the Refunding Fund . . . . . . . . . . . 33 ' Section 503. Application of Moneys in the u . wi Refunding Fund 33 Y ARTICLE VI r REVENUES AND FUNDS Section 601. Creation of the Bond Fund . . . . . . . . . . . . . . . . . . 33 y Section 602 . Deposits into the Bond Fund . . . . . . 33 ; Section 603 . Application of Moneys in the Bond Fund . . . . . 34 Section 604 , Payments due on Saturdays, Sundays and Holidays • • Section 605. NonpresentmentofBonds . . .. . . . . . . . . 35 Section 606. Creation of the Construction Fund . . . . . . • . . . 36 Section 607. Deposits into the Construction Fund . . . . . . . . 36 a Section 608. Disbursements from the Construction Fund . . . 36 x Section 609 . Disposition upon Completion of the Project 37 Section 610. Disposition upon Acceleration . . . . . . . . . . . . . . 38 Section 611. Creation of Rebate Fund . . . . . . . . . . . . . . . . . . 38 Section 612 . Deposits into and Application of Moneys in the Rebate Fund . . . . . . . . . . . . . . . . . . . . . 38 ARTICLE VII SECURITY FOR DEPOSITS AND INVESTMENT OF FUNDS Section 701. Moneys to Be Held in Trust 39 Section 702 . Investment of Moneys in Construction Fund and Bond Fund . . . . . . . . . . . . . . . . . . . . . . . . . . 39 Section 703 • Manner of Investment . . . . . . . . . . . . . . . . . . . . . . . 39 Section 704 . Record Keeping 39 Section 705 . Arbitrage and General Tax Covenant . . . . . . . . . 40 "'i' S f 9 �r'� �' xir*rt'�'�� t �ay $?�+t.�'�,4� � '�`" � di �'�'N� id'fgy�2�•,�LfK !,�.i,� .r �✓ f i { �n �r "+ p¢ ��`�. ,,h ."�`�.a tS��'t`' ,y � �:�n. °l#t,.Jt#}vtr�L3,�iSt{zlYr r y�;r.+ > t,�a, �is�y�� }M 3t. ,i?�zt�#k r�r..��'kxi L•'{n'{��Ft�A'�}}i'#t }'� r,�i-� s�"i�' '`'�i ;.'�3 sN.. `y,j4 fir tr rr,r. 'E,`�",a `Yv fir.xts��f�'J.'�(�.,�':,"�k+�frY', r�+• X SS. a Y,,, .a r✓dl , j��...I b ( y. 'Y.r i«Z' .. _ _ �. ....... , _. .';" .. ._ ♦ .. .•, ... . .. ._ a.,....,. .. ... _._......sire ,. �1 /)3�`� {t!Zr A}FM1 tttt' }aLY,+ �l fad 1}' ..s#, `t. 41.gl t r... .. Sa:za :i j, t'i ,.3�t ON ARTICLE VIII +' GENERAL COVENANTS AND PROVISIONS ` Section 801. Payment of Principal, Premium, if any, and ° Interest . . . . . . . . . . . . . . . . . . . . . . ... . . . . . . . 40 Section 802 . Authority to Execute Indenture and Issue Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 41 i Section 803 . Performance of Covenants p Section 804 . Instruments of Further Assurance . . . . . . . . . . . 41 s?}s Section 805. Maintenance, Taxes and Insurance . . . . . . . . . . . 41 { Section 806 . Recordings and Filings: . . . . . . . . . . . . . . . . . . . . . 41 Section 807. Inspection of Project Books . . . . . . . . . . . . . . . . 42 r: Section 808. Enforcement of Rights Under the Lease . . . . . . 42 s° Section 809 . Corporate Existence of the Issuer; Com- pliance with Laws . . . . . . . . . . . . . . . . . . . . . . 42 '-•F ARTICLE IX DEFAULT AND REMEDIES Section 901. Events of Default . . . . . . . . . . . . . . 42 Section 902 . Acceleration of Maturity. in.Event of De- fault . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43 ' t Section 903 . Surrender of Possession of Trust Estate; Rights and Duties of Trustee in n Possession . . . . . . . . . . 44 Section 904 . Appointment of Receivers in Event of De- fault . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 u; Section 905. Exercise of Remedies by the Trustee . . . . . . . . 44 ,;. Section 906. Limitation on Exercise of Remedies by Bond- i, owners 4 5 Section 907. Right of Bondowners to Direct Proceedings 46 t : Section 908. Application of Moneys in Event of Default . . 46 Section 909 . Remedies Cumulative 47 Section 910. Waivers of Events of Default 48 ` ARTICLE X THE TRUSTEE .'7 Section 1001. Acceptance of the Trusts . . . . . . . . . . . . . . . . . . . 48 Section 1002. Fees, Charges and Expenses of the Trustee . . 51 Section 1003. Notice to Bondowners if Default Occurs . . . . 51 Section 1004 . Intervention by the Trustee 51 Section 1005. Successor Trustee Upon Merger, Consolida- V tion or Sale . . . . . . . . . . . . . . . . . . . . . . . . . . . 52 Section 1006. Resignation of Trustee . . 52 Trustee . . . . . . . . . . . . . . . . . . . . . t . Section 1007. Removal of Trustee . . . . . . . . . . . . . . . . . . . . . . . . . 52 Section 1008. Appointment of Successor Trustee . . . . . . . . . . . 52 wa iffil 5' �:. ntkti' .,a 7 {p i 1 Ell: �'4x.'N ' 7s p". f g__Y I 1 Atw p - ;3 a� :• a��, ��,, t�' ..4+ � f7g"u-� Y�� 5�' t»l�, a#��''ij Y�� }..�}7 '�jf.��,�I:�3iA5i�+�o- �i��i�7�ji Ftt��l��SS 7�f° {�'Ii�'#'.'�N��"+l"'S�S;�Z'�h�,��'�''rs •• � '+ q ti�^ih.�1"kV�t�:;L'�: �',�3t5��?��.t`^�,1�� ¢�J+�''a�t� a#�S{+} }S'f°' �!�i { { k. y�5 .k3r�!�r3"S 5s'�.a t^1, Y.�n•�`i�+�i x+ � �i k �+i'�' I ,art "] P S •.x 'a �,�'W�� ct`� � � �:p' .x ' '� .a .4. Iw ..r", r 5 t� .. } ",•`'-.t"'31.: , i S. y k" t { ei'i '.ri�C,`<r 4, � 1 9� {t ...444""" 5 ,:I f .lt:.•':��' P t..� I F+ R, . .ti a sc�i"�,tk"„� .,r�, .� • 4{5 : .. " . .. 'y ... .1.. .,y y.� ,;k #1� �,.x,.sa>'�ly�}3w � „etrntYlrYrxi,:. ->r�.sa:=ksa.• i.. he . . . . . 53 Section 1009 . Vesting of Trusts in Successor Trustee Section 1010. Right of Trustee to Pay Taxes and Other Charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53 Section 1011. Trust Estate May Be Vested in Co-Trustee . . . 53 Section 1012 . - Annual Accounting . . . . . . . . . . . . . . . . . . . . . . . . . . 54 Section 1013 . Performance of Duties under the Lease and 1 r` 54 Guaranty Agreement . . . . . . . . . . . . . . . . . . . ARTICLE XI ry A' SUPPLEMENTAL INDENTURES WF Section 1101. Supplemental Indentures Not Requiring con sent of Bondowners . . . . . . . . . . . . 55 Section 1102 , Supplemental Indentures Requiring Consent of Bondowners . . . . . . . . . . . . . . . . . . . . . . . . . 55 Section 1103 . Company's Consent to Supplemental Inden- tures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 ARTICLE XII Z LEASE AMENDMENTS Section 1201. Lease Amendments Not Requiring Consent of Bondowners . . . . . . . . . . . . . . . . . . . . . . . . . 56 Section 1202 . Lease Amendments Requiring Consent of Bondowners . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57 ARTICLE XIII SATISFACTION AND DISCHARGE OF INDENTURE Section 1301. Satisfaction and Discharge of the Indenture. 57 Section 1302 . Bonds Deemed to be Paid . . . . . . . . . . . . . . . . . . . . 58 ARTICLE XIV MISCELLANEOUS PROVISIONS Section 1401. Consents and Other Instruments by Bond- owners . . . . . . . . . . . . . . . . . . ... . . . . . . . . . . . . 59, Section 1402 . Limitation of Rights Under the Indenture . . . 60 Section 1403 . Notices Suspensi n 60 Section 1404 . *�i *N*ew Newspaper Publication n Mail Suspension Service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61 Section 1405 . Severability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61 Section 1406. Execution in Counterparts . . . . . . . . . . . . . . . . 61 Section 1407. Governing Law . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61 Signatures and Seals . . . . . . . . . . . . . . . . . . . . . . . 62 Acknowledgments . . . . . . . . . . . . . . . . . . . . . . . . . . . 63 Exhibit A Project Site Gv) a Fr. g , :7'Y�'t#AdinS ii }� S i j.{ ,� why. .l � ..,K.. � .... ,. .., t...s J:-0:. .. A-r,x.. �,t 1 � Y tt n Y i " TRUST INDENTURE '� ''x THIS TRUST INDENTURE,, dated as of February 1, 1992 (the "Indenture") , between the CITY OF JEFFERSON, MISSOURI , a municipal corporation duly organized and existing• ng under the laws of the State of Missouri (the "Issuer") , and THE CENTRAL TRUST BANK, a state trust company duly organized d existing .4•q�„. an ex w w ' and authorized to accept and execute trusts of the character ” herein set forth under the laws of the State of Missouri , with its principal office located in Jefferson City, Missouri, as ., Trustee (the "Trustee" ) ; W I THE S SETH. ; F 1ti:i"s t WHEREAS, the Issuer is authorized and empowered under ;'.`. Article VI, Section 27 of the Missouri Constitution, as . `; . amended, and Sections 100 . 010 to 100 .200, inclusive, of the Missouri Revised Statutes , as amended the "Act" ( "Act") , t o purchase, construct, extend and improve industrial development projects ` (as defined in the Act) , and to issue its revenue bonds for the purpose of providing funds to pay the costs of such projects `'' ' and to lease and otherwise dispose of such projects to private }}y;, persons and corporations for manufacturing and industrial development ; p purposes and to issue its revenue bonds for the purpose of providing funds to refund such revenue bonds; and WHEREAS, pursuant to the Act, the governing body of the Issuer adopted an Ordinance on April 19, 1983, authorizing the Issuer to issue, and the Issuer did issue on April 27, 19838 its Industrial Revenue Bonds , Series 1983 (Scholastic Inc. Project) , in the principal amount -of $4 , 500 , 000 (the "Series 1983 Bonds" ) , for the purpose of purchasing and constructing a project , consisting of a processing and distribution center located in Jefferson City, Missouri , including real estate, . buildings, improvements, fixtures, machinery and equipment (the ; "Project" as hereinafter more fully described) , and authorizing the Issuer to lease the Project (with an option to purchase) to ., Scholastic Inc. , a New York corporation (the "Company") ; and WHEREAS, the Company has requested that the Issuer xt issue a new series of industrial revenue bonds for the purpose of refunding and redeeming all of the Outstanding Series 1983 Bonds on April 1, 1992 and the Issuer desires to issue said bonds; 4 WHEREAS, pursuant to the Act, the governing body of the Issuer adopted an Ordinance on February , 1992, authorizing the Issuer to issue its Industrial Refunding f. Revenue Bonds, Series 1992 (Scholastic Inc. Project) , in the principal amount of $3, 575 , 000 (the "Series 1992 Bonds") , for Am the purpose of refunding and redeeming the Series 1983 Bonds on April 1, 1992, and authorizing the Issuer to lease the Project v 5�`• � �,Y p v. ,t.. � fi rt a•*R yf r x1e^ },`nq•'iiy,Vy7 k.�v`,f i{t `1.x,i � Y s' t. `Tit r' t �I�gll�tl� ytl q. � i.Fji,{r' ~k X1 G9)r 1 ! T t 'r i i. l"}�✓ y., .. + r . Kij.�:��Si tf i ✓ `w^. - y S4` .Y��'� `�,�s �f ��'i�'F .!•'. i th sv 1} 4 {` i.,r 5'.>Kxt 4�. i4ir t > 1 5y�:}'" y,� p� ,litkl t�pird. ��' +ri! x's,�l )J"}'•F i�SSi:,JUa f d 9..1 4.r4. t N f '"z:.Jl S r i 4' - + t�ti ;�'s `S P'f'�'7L+'� ;fi�i'' { {�` � 'f{S.v>"=' 5+. 7 yArW.x.s?u��:'�l T'sil:o'(i�ty``4'{CY� C�fw j I.ta5y..,ir,_...�� Sr1+4. t. �St� {.T ftu.. fsy t,7.t. .k°�"��4<i¢ti.r`'i��/.•a�•�},t _ k t1.+ .y�x'y} ��w,i;4. ��'t.l'p•rc.`T:ry}'r�§'"��1`�ax 4'�5 )�';, S �..(.�att.YF dYi,t,�,r. }'.i� 3-.F.f �'�S Y6 3 i�t:s f t2x,{ krais tr `SY7°r"'::� i' �-�W ". rii {. ;��y�`xt �.rs��;.v+." 4 ix aTM*�P" ..f'da'j3s F.r��rt �3 ;w a'trit �` af�s r +htx �"ti.rysf•}�" l j .NP i�4 f�,�t {.kf �,.7,d�� i�F jt>i�r�r+ .� {. ;sitC fn..'.'{4 �i+{"�xa i�?'t�`d1MS i"�,:al.t;:,'�,:��,'��•.t � �^�p5r$a�fi��'9F�t'�t r`�.s 4 . { n { N -}`jj'•�r ir'r�.Y Ft' ,S 'c 4i1:� {..n ..c} g Y f� p t r y.+. ii r5. Y s tp'4)`.r,'�.x ; t � S3 r c �!4a�k$til � hr�: /r,�`(;}t. 3 �' � ,� 1 r;,�?` rr'rr`" t',�� { ..t�. .t+l FSh? c } : i t.ir f•U ! �f. . t. ;•t.'`'r. h =i },:k...l .f;F i '�n�t� ��k'¢t1fr��s�'��A�lt'Sm: i ,x .f%rA'��':.trt' y1 a t f))} � '! sv iir'�. •t,S s '„ r '�L s i fc t-:t” }{'{�5, 4tim - w' +, T' 'i 44 ;t:". ki.i..,5{`t '� � ,;J'�f• ,•fit °}• -yr':{+��x)�,j t i!�1!{ r Y i ,+f',t ,s.'` s. t f{ '.tii '+ `�.�,t '4' � ..1,,:4 .5 G� M'�Cy 4;t^'Y tf' ' :`a�Tit'3 fq �.'�� '�� r� 3'S''� a'S'�.h`,t �, ! i s d. �, .r i '4r-. t. \�,i ,�( t 'c �..•i r.sr{�':,k r��,,;� l �' (,�`•` ,�t,3`^ �`9x.s}3g4 Tryf' 3 '�ti'4'�-� .'.>?� �fjs'�dY'`� i`.is'jt� 9 •r, a ,- tr,.f•.t .3 , ci.V .r.+ _. + ,'4:, "- S � s f r . �t "t ?�y. �7i ~ ",�... .�`';' ' S'4iit1 '•.., it.,t_ y , �FiEY'f • a .a t ��`�1��,,Y�v� �'�'�f>f�?s`��'.�t��:�f ��c�� ' N. ,r ' X ` (with an option to purchase) to Scholastic Inc. , a New York , corporation (the "Company") ; and WHEREAS, pursuant to such Ordinance, the Issuer is authorized (i) to execute and deliver this Indenture for the purpose of issuing and securing the Series 1983 Bonds and any Additional Bonds (collectively the "Bonds") as hereinafter provided, and (ii) to enter into a Lease Agreement of even date herewith (the "Lease") , between the Issuer and the Company, under which the Issuer will lease the Project (with an option to purchase) to the Company in consideration of rentals which are to be sufficient to pay the principal of, premium, if any, ,14 �.,. and interest on the Series 1983 Bonds as the same become due; Get,. ' and $r , WHEREAS, all things necessary to make the Bonds, when 4 v authenticated by the Trustee and issued as rovided in this r !< Indenture, the valid and legally binding obligations of the " ` = A'` k �Y s .. Issuer, and to constitute this Indenture a valid and legally binding pledge and assignment of the Trust Estate herein made , ,„ FJ for the security f the Y payment of the principal of, premium, } if ,any, and interest on the Bonds issued hereunder, have been � ti �r`�ya•.� { done and performed, and the execution and delivery of this t `: Indenture and the execution and issuance of the Bonds, subject �. to the terms hereof, have in all respects been duly authorized; NOW, THEREFORE, THIS INDENTURE WITNESSETH: i wit• Y i GRANTING CLAUSES >Y. That the Issuer, in consideration of the premises, the acceptance by the Trustee of the trusts hereby created, the purchase and acceptance of the Bonds by the Owners thereof, and r.. the sum of one dollar duly paid to the Issuer by the Trustee, and of other good and valuable consideration, the receipt of which is hereby acknowledged, and in order to secure the payment of the principal of, premium, if any, and interest on all of the Bonds issued and Outstanding under this Indenture from time to time according to their tenor and effect, and to secure the performance and observance by the Issuer of all the covenants, agreements and conditions herein and in the Bonds contained, does hereby transfer in trust, pledge, assign and grant a security interest unto the Trustee and its successors and assigns forever, the property described in paragraphs (a) , (b) and (c) below (said property being herein referred to as the "Trust Estate") , to wit : (a) The Project (as hereinafter and in the Lease more fully defined) . (b) All right, title and interest of the Issuer in, to and under the Lease (except the Issuer 's rights to indemnity thereunder) , and all rents, revenues and -2_ { •_ �.��•�' eN''��! �.t .a•,7Y '� F'S saa ftvrl l q+.rtt"Y�v �+`t�t ,� raPt,� , u{ � ,rt 4, t i1 r lx� '�! ��'��!t.'.:{'r.�x�s Jh + •t}6 yx Jib f �, '}x 4i i��k' �,t s ;1�i��ta,��', ,. � "� s`r�' `z� �,y`"sk�'�+�,,�js. „`,n��•Fd$' F iz��zr i1'r r� <,"�•' r' ` �r^M1� fa ,�j��+� t s 'Y ,� Y� �'' - u��'x'S*Jc,,, -�isr''� ,��;�irtxsh�to �t��y srxf�r+ s��'��s,r�;,>�'J�,'��;,•S, ,r(�rr7�. r�'tr�� + r <`1t �; c t4 �{,��,t' �1k��#(•,1 d �tu+ i ...j4. t i}>tf tt. r r s.aV 9{ 4�'''!f�{ �'s t'�F aA �t 4� 1`'jZ'+k ,j ,w a �a ' x .,• �n ' rarty 3��u �.< l,o,Six .h. q ,/ + �� y�L'�� dt^t ` y,r. ri'.r N+�. l�. 5 . •.. 'r.}rt' •.�,. ��tk'. � 'S y,.doh 4rti'st {i C' e tt 7� t.t tt r.f Y kY � s t �.� pi •F � � s ti ='':L; t �' �.; 5 t t � +�t i. tr si.y✓ + t 'x fA� i( .'Y.Ir, c F rf� `ry �Jds.��.� r� ��s§J �a y � t�. 't a• °y 0 -¢c � .str t''r'3`4i N+ti 2 j �s'.",t ft. r&C��i,s::",:��Yt �'• 3."y -tt r LZ.J vlt: J: I•e ��71+7 i;.}, .{4SS. . N 7 �', .c t txvx.j'�..; t ,}:t r+ lyre hf'`. A".,,f, r s'of•.^'is .�};11j t" d •'Y. 2,k5 ,#+,.st7�.i n.. 1 atC:sc i.s �,t o�. .sr ts' i yj4.r. c t t rs r` a Jd;t".4't .Txt'�r+`f,.i�,j`l�cxt�N. i".r�.:�y�ti.r'�dy> {, 'fit ��y}, ve� �� x� {f{a�. Z C Yt �.+F i + ::} ”{ '� it 'rG .. a a,� ,. riL°°��'•�l� t �^ 'S"S` t Y C.e r' :Y�+3y?'v�'�r t; {iu"r,r ..•l '3'er t:.h ,E .(Ss + Yr �!':t! „"(:'I { , s +.45 +"`d�kn`� F�+�,.3%��li�y� x'y'�Pr�',.. r ,r y.t,Ytt tip¢ J .. t . . .� Z ✓ F... .cc ,�.,.Nt. _ `@YIYIrfA7�' rl{•.,.... 4; Y �j f t 1 , '. .':.27 y��.�,7 �. i�Fr C,�. ' X42_}ar�yr '1£,t'4 tiFy�.:,r } i .•;.J`ei9. ryY � '£7`£... �� { ; .t �+",'S,-.t j;L _ f MG s ..aTr::? e ';?'. .*..3., xi4",:£,,�.�.s.r1.•��i•..''.YY�.,l,>•c�"?.•.�"�S�r..'i}'�trt�`..:.,s r'.. c..s;a s,.e�:.v .L:a.-+.n Ax receipts derived by the Issuer from the Project g including, without limitation, all Rental Payments derived by the Issuer tinder and pursuant to and subject to the provisions of the Lease (except for the rights of the Issuer to receive moneys for its own ,,, f,:er,i account under the Lease and any payments made by the _s• Company to meet the rebate requirements of Section r, 148(f) of the Code) . r i (c) All moneys and securities from time to time aF r` held by the Trustee under the terms of this Indenture h (except rebatable arbitrage, whether or not held in +'''' the Rebate Fund) , and any and all other property of , < every kind and nature from time to time hereafter, by4'k ` delivery or by writing of any kind, pledged, assigned or transferred as and for additional security k hereunder by the Issuer or by anyone in its behalf, or s. with its written consent, to the Trustee, which is ' hereby authorized to receive any and all such property at any and all times and to hold and apply the same subject to the terms hereof. TO HAVE AND TO HOLD, all and singular, the Trust ' Estate with all rights and privileges hereby pledged and ~ •�, assigned, or agreed or intended so to be, to the Trustee and its successors and assigns forever; IN TRUST NEVERTHELESS, upon the terms and subject to 2 4: the conditions herein set forth, for the equal and k' +r �.l proportionate benefit, protection and security of all Owners , from time to time of the Bonds issued and Outstanding under =a this Indenture, without preference, priority or distinction as ,r to lien or otherwise of any of the Bonds over any other of the Bonds except as expressly provided in or permitted by this Indenture; j'. PROVIDED, HOWEVER, that if the Issuer shall well and truly pay, or cause to be paid, the principal of, premium, if t any, and interest on all the Bonds, at the times and in the manner mentioned in the Bonds according to the true intent and meaning thereof, or shall provide for the payment thereof (as '. provided in Article XIII hereof) , and shall pay or cause to be paid to the Trustee all other sums of money due or to become due to it in accordance with the terms and provisions hereof, then upon such final payments this Indenture and the rights hereby granted shall cease, determine and be void; otherwise, r.. this Indenture shall be and remain in full force and effect . ? THIS INDENTURE FURTHER WITNESSETH, and it is hereby expressly declared, convenanted and agreed by and between the parties hereto, that all Bonds issued and secured hereunder are to be issued, authenticated and delivered and that all of the Trust Estate is to be held and applied under, upon and subject to the terms, conditions, stipulations , covenants, agreements, f -3- F< i � f y ��•� F�, �:+:, ,:kt 7t ? 1 v, .��x,{�:�t kr��.''f �""' Ss a •r, ' �� 'a7`,i�t �zf'rt �;r� 4 �tJ,t`S yri� ft riTw.� `' }1',�;yi',�t .i�;�•"•. � , x�cr. ',t,�,3 t,. a :�f s4+��.,rd �d�3 rT+'"' �T��irf'• Y .j, i.:ke+,r �• �i'�•'x,,...•..t .+��•t� i , �?•i.•. .. � 3.[?,�i� "'i ` k'"9 s`��i Y �"x�'•"'`�Fi ir4;j r 4}J.}, � f' ur tL�9�s �j 'p1k#, �q,7x i�p�,ti y�i'� r ti til �} "�t j .�(ay�tr Yt ` f t F i �f ��tr�r'r$�At'`"''; 4}•�`usli x 2 �� i,f t"u y a- �4 �. i.. f s1/3 7 ��?.S r i ` •{� t ; � �t�t ,snii� artis.�tr'.�r.� t kx•, r yx, f. r {}'i? 6v r ;r �x`.ry,•} StS• �'E ff �,�5�f'''' �`,,, F. .;t �.0: f af','•.�; „y..'�.1 r r @., 1 tt. 7 F 1 .6 h. j •t n. s h9` . 5},{.ir }�..�,.,µt:,sR'%k „� ' r �}at.±1. Jy 3 t:5 i ijti,.F-1;a J�•.�� 7 a5 .ta, �y,r,., �.. ' F�. d ..:FhY` !ll,, 31 S lt. 3'i }r ,t. k$O��ex:`'} ; ��, �k{xs r. �P'��.fi,;�i:°?�'ea;`t� r.}�4,94"•izit:46x,37#. r �,, ,,t. rt '-'i'kt .1 � ,, 1j f.::'�.!.•3,�,<:�', t-'aa'7+ r •`• �'��*"'.;`�' s��5 r'r;.�s�"�N.�'''�� !� , j{ a' f F. �.1 ! .tt 7�ut�y760. .r7 t�.,.` v.. �r.�,r y.. E i.t. i�` ,.: t ly�..7f•Y '' i,t Sj �F'''J t + ,.�,. ,rt¢rij{ ,<ti�L7t.•.,c,Yi. 'rtr` t7r:`t .r ,',� 1..r4 t. .,, 'Nl �i -. } { i.. rtjJ.l�.Z r, h�, G >; . ,,'} +^tss� a�tt�3•"3.{v;�,��, � +y ..� 1 .Std � .:Sl t� ,s! .f: R ,x,.,,. Sri.•. 'r:,..t9. �'7P.��k11. S�� s •, •'4 � 1 z•< ' ;i + , ` k�sr "¢�, } 'e'�.y t a }r 4 y}�f s} j�A 5 � .J1u�if�r: J ^'��q;� �? �,r��+'b,c , ..� . .!�*' �?�• .� ' ��`��f"'i �F�'�,ilaG�R j ? r u�'+^' J�1+�`�Ga+�,S �75'k�'a �Y . �'•`'' S� f .zr.: 44-• '.fir�nd}Fp t'� t. ...5: �Lt.+",n;-:�;;;t;,• '�t,3r-.:;e J<�.`h!: tiny a;Y f s a �'. u trusts, uses and purposes as hereinafter expressed, and the Issuer does hereby agree covenant with the Trustee and withy .� ' Y ree an cove 1 the respective Owners from time to time of the Bonds follows : as ARTICLE I ' DEFINITIONS ' F-' Section 101. Definitions of Words and Terms . In Yea addition to words and terms deffined in Section 1. 1 of the :Y Lease, which definitions are incorporated herein by reference, , _. and words and terms elsewhere defined in this Indenture the 1 following i l d owing words an terms as used in this Indenture shall have the following meanings, unless some other meaning is plainly ( intended. P Yf "Act" means Article VI `' Section 27 of the Missouri Constitution, as amended, and Sections 100 . 010 to 100.200, -:,. `,ur. w4ta.,r 1.afi r!' inclusive, of the Missouri Revised Statutes, as amended. r' '"�4' " t: 3 +it � �aw�1P�31:•:. "Additional Bonds" means any Bonds issued Section 205 of this Indenture. Pursuant to ^"` ♦tt ' f: r��•f: 'Ss'tAi• "Authorized Company Representative" means Frederic I 2J Bischoff, Vice President and Chief Financial Officer of the Company, or such other time ` behalf of the Company as evidenced by designated certificate t e furnished to the Issuer and the Trustee containing the specimen signature of such person and signed on behalf of the Company by its President or any Vice President. Such certificate may :41 designate an alternate or alternates, each of whom shall be entitled to perform all duties of the Authorized Company Representative. "Authorized Issuer Representative" means the Mayor of the Issuer, or such other person at the time designated to act on behalf of the Issuer as evidenced by written certificate � furnished to the Company and the Trustee containing the specimen signature of such person and signed on behalf of the Issuer by its Mayor. Such certificate may designate an alternate or alternates, each of whom shall be entitled for perform all duties of the Authorized Issuer Representative. "Bonds" means any Industrial Refunding Revenue Bonds (Scholastic Inc. Project y Additional Bonds, authenticated ln and he delivered 92u under and .pursuant to this Indenture. it "Bond Fund" means the "City of Jefferson, Missouri, Industrial Refunding Revenue Bond Fund - Scholastic Inc. VW Project" created in Section 601 of this Indenture. -4- M, / ' 0 j4��1�,�'>< J�a� �{'P ` .,�'� + r .54. � t K �1 ''S tt Ft• � ' i' � ��G�,� '�„� •fill i� C IL#i p t .'•t,T t + 1. rt,w l>e } ! ,i } i�'! ��$t:t1 Y�t tM17��...�,ti'S5, ...v'`+tiM: ,�, > k'" "�;. �7�} r,>1•y{�. yr' �:R �'x�..� xS'1 ` L f ^:r`i''tY'�' {'r`i' �� ;:a;,rFh+��t?^ fdk i ..',°s�,��dr�,•r`a`. •'i.; ag�( ��+�Z,�� .'.rf�`�� 'i,''S f.r .rtr # S e !. +�+{{ 4 r}r ,�°€W F,�,"$f 1}.t��J�PM f�yk*.�rt!°'1�T �1 ,?J ` ttrr ,^. ✓� ,�i.i Y`1. i i } f f: "f"! F :a.S F �,+ wS st + [ w}°t Y t IS v' 4 -tf + 7 � fu t r 7 9 51 r ? . J.SU}if4 iN'a } lv:"h..t#tr)I. °.,fr'. ;. k+,. xr�J;f 7t�� t� Z •{ t (ftTt, t Iy i i..! !�,,, �„i c r's, ,4 @a Y9�S 51V {ti ..��{,3'��Sj.�, :}'lo Y� �1 '�+p j'd ��. � ..Id }.� _ t t .1` 1 , t x',•7 t[ `t'y Y``Tg t r rirr �llt�t,.'}i.E�� d (i':`.+,�'y�'1k'��t,t"�.. �`�, { b��ff�o"tc �,t, `h r. ` ';v 3c., » 1 .K. 4 tx: t , + : 5 ...� di^{ r �Y '�: �94�S��S�',:k y,'.•;{t y" .. ,�Xeri' 1 t i : r'+tT."�s'z �. a �!.:; -'Hf• :?,� '�`s5 .7,��" s�,.ti, �..G`:,� �R-t ��tt:..y��x yam, 4.�; .nlr 4'`rr� €; ��'1'o.��a hs}Sax#6,y. , ,yap: , '�� :� � e liffiffil .� ,.a• :t'lyy $ p' 1 fiat F3.t T'�` :t"i>•tJ :fi "Y'.,>nci.fti '{ t ..t .a�;:! x 5 i ;".�4. F''�{r. ''' Sr. a } N j - "Bondowner" means the registered owner of any Bonds . "Code" means the Internal Revenue Code of 1986, as amended, and the applicable regulations promulgated thereunder `=7urytc & 4 and under the 1954 Code. = dsY Company means Scholastic Inc. , a New York corporation, and its successors or assigns or an surviving, P 9 Y g resulting or transferee corporation as provided in Article IX of the Lease. ° "Completion Date" means the date of completion of any f •� acquisition, construction and installation of Project Additions ;: a: : or any reconstruction of the Project established as such t pursuant to Section 4 . 4 of the Lease. 1`..r. io "Construction Fund" means the "City of Jefferson � r, Miss FiyM< laY4.i Y?�,. ouri, Construction Fund -- Scholastic Inc. Project" created A ' in Section 606 of �} this Indenture. 11 rid>,�•,'-�t�<t k i,7: Construction Period" means the period from the y-tF� ' fFs: beginning of construction of any Project Additions or any xrnG4,d?S j . reconstruction of the Project to the Completion Date. �y1 "Determination of Taxability" means the final adoption ��'�s �jt�� '` of legislation or regulations, or the issuance of a statutory notice of deficiency by the Internal� Revenue Service, or a ,.r. � ;Y ruling or technical advice memorandum by the National Office of the Internal Revenue Service, or a final decision of a court of -; competent jurisdiction which holds (in all cases other than the r,:Y final adoption of legislation or regulations , specifically with respect to the Bonds in effect that the interest *-� § , P ) payable on h any Bond is not excludable from the gross income of a Bondowner a' for Federal income tax purposes by reason of the failure of the Bonds to qualify for the exemption provided in Section 144(a) t' of the Code, or any other reason other than the fact that the Bond is held b y a person who is a "substantial user" of the Project or a "related person" as such terms are defined in Section 147 of the Code; provided that, if such ruling or ;s technical advice memorandum shall have been requested by a Bondowner, the Company shall have been afforded an opportunity to participate in the request for such ruling or technical advice; and provided further, however, that no such t Determination of Taxability shall be deemed to have occurred (x) in the case of the final adoption of legislation or regulations, if the Company shall furnish the written opinion *; of independent counsel that a reasonable basis exists for treating such adoption as not having the above described effect y r and (y) in all other cases noted above if the Company elects to n contest such notice, ruling or decision in good faith and proceeds with all applicable dispatch to p pp prosecute such appeal until the earlier of (a) receipt of a final determination from which no appeal may be taken and with respect to such s determination, or (b) abandonment of such appeal by the -5- :$ J 't t1 t Y l s '""••„"� i AJ rijH, +Y. .l At J .::ria f S F .r r. Yt.,l7 rr p^f'tt t`y;�d vr4y z J .�.� +•'S' �,�� ,�"�f}`n. � S ! s t77 �.�a � x e t .ti,�� ri �� 'a ..t7r t. 1 3,t{'(��'t�.�1 q� ,�,,�, d . X�t ,JK S5�Y4,�e�'`w� '�i J°-� f r 7g�t attx i S:� i ,x } � t Y` ,.K F t !,�, •� ;�,{ t��`r'{{,.�{�yy��P^'`� � Y Cry y .% ,�r£�K4..�0��' ��r �*!5t�L r Ertl..• � -' i .k > �' �� W h� } fly{%'f`i'.� {+�xr.Jk }.� S i, �;y ..'}; �: .1 r r '.(.i t 'C.�• + .o-� '4""11 Ty�t1 Ai' - L L' 4 > } t J r 1. � ro� 7 r y t ty41 }� i'l S/Afi.�ti �jli tyr•"y ni.'ly, }' 's..„ _?,;t` u �'"StC t ix "t S rr t J!.S:s,� } .n<. F r ;:j4irynJ'r;3 t t x y�}d .4 tr t e, i :9� r��'. �', 7 t =�}! I,Zia .h �+„i,'� < ,_.(.y{g�C, th �}' ,"N.Ys..��Y�4tir:�,^`�.�r �„i<,�`C l �t:� � '� tl � d, # 3S"-F?'�'�';��' EI +• "'� .{ n5'�' �f". <r iT .�t ... 4 �sC� Y�1 < '\'y 1 ��if .li+< r:•F... ,Yi: Y iii} Ft � s t}gt �i�1ti � ' �3 }?pit •!}43 { .+. .�Nitt .�Y i .).tt }„t•,�`�L }`' .%• tlu �$�tt .r J`,lr ..S •�t, 3< � i .k� ,s 4 1 :�+.�•?�' 4. �� 4ir "§M•tu N#.� 3. 'r.�; J .r�. '•y,' 4 �:� ��}1t� .s L}�� jj}�i,J1'J �w�x��1��!'�*��,��'l� gi +iya`��,•T +j 4��J[� .�.. 5 J`� � 3 try_ 1 Company, whichever shall first occur; and, provided further, g°< that if the Bondowner refuses to permit the Company to contest such notice, ruling or decision at any time, then, in such 0 event, the interest payable on any Bond held by such Bondowner, .,; _3 3 K b�S shall not be deemed to be taxable within the meaning of this «: F¢ paragraph. ``; w "Event of Default" means any Event of Default as '{+ described in Section 901 of this Indenture. "Government Securities" means direct obligations of. , or obligations the payment of the principal of and interest on which are unconditionally guaranteed by, the United States of �°, 4 America. "Guarantor" means Scholastic Corporation, a Delaware ` z>. :J ,•, corporation, and its successors and assigns. "Guaranty Agreement" means the Guaranty Agreement '}'`+ s��t dated as of February 1, 1992, from the Guarantor to the Trustee. x'.,. "Indenture" means this Trust Indenture, dated as of February 1, 1992, between the Issuer and the Trustee, as from time to time amended and supplemented by Supplemental Indentures in accordance with the provisions of Article XI of this Indenture. .f ' "Investment Securities" means any of the following , securities , if and to the extent the same are at the time legal for investment of the Issuer ' s funds ; (i) any bonds or other obligations which as to principal and interest constitute direct obligations of, or are unconditionally guaranteed by, the United States of America, including obligations of any of the federal agencies set forth in clause (ii) below to the extent unconditionally guaranteed by the United States ' of America; (ii) obligations of the Federal National Mortgage Association, the- Government National Mortgage , Association, the Federal Financing Bank, the Federal Intermediate Credit Corporation, Federal Banks for H` Cooperatives , Federal Land Banks, Federal Home Loan Banks, Farmers Home Administration and Federal Home Loan Mortgage Corporation; (iii) direct and general obligations of the State of Missouri, to the payment of the principal of and f, interest on which the full faith and credit of such r state is pledged, provided that at the time of their purchase under this Indenture such obligations are rated in either of the two highest rating categories by a nationally recognized bond rating agency; and -6- ;t •°?} k'a`ki. .j.,:,�y,y i, ,j•>h,';t?fl'"'n^^sMZ` •'� R ,.a cG ,b`:s'.:; �� Y •^5 7. ,,nn 9 d i);A'�.7+ r r3^'�•S7 �� 15 f'^{t'§F5�"h� i� F Fi .°t5�-• .w ,>t 5�ij .c f� 1"i+i'`3'g >.(,SS �•b`xt`}`Y''tG kt Ften"t ": �xr # "' r1�3„['tM1a,{ G�t •ya. �, t { ' y" t +�,�L i tid'1^ J'i "i"jf• i J 1*�zl+ .t:e ''k' 3 t'y AiS +lu`i N'iY ii�rr. Ri`'i'+ � :-4' "G A • �'i.,. t�'?-4,a. e SIa"e t fd "i`F f c,dL d ti �c 1 ' r N A •'4yqq, ,,Y,S i• s! x..' Y��,�s�}J`y��,1�� <�i2'.:.;.•�Ct�e��t� f"�it-4�3�. .f�t� �f t d.. ri t w<rs, '1 y rsl� }4 .3.,;.ur�1_�.t"5�a.'ti• �y}z��1j}� ��r•%r`�'��lq r S �s4�iw ^'�t 's1 A�1}t rIti`,"" Sf?" 1 t 5C td t y W,tsL� .lYef}} . ` p}l$ d'�i a tt•t'''iE'� Yl .-Y S k '` s :i � .. ff;;��5 .) 'Y tfk'S �, i Y"�3 Y'{ { ( l }_ i•"r a1}� �tJ� 4:: Y Y: �J f �k. 3 rt, f { .•�.,,,n P� x'� �d�.zi. S r i �' }j..ix�tl •t .. .,�t * .+34 ,,.3 �. j� k �a�,,�. �� Y i.. z r .. .. . - {az 7, zt•�'.t�,1r4s}€ "' L ,..� �b R.i ,t , s .;�: t ,i,,,.g:t >x s: s.;kxc'S-�k��J n.fk'�''i' y''i:i`:�'c:: ,i• t. �� .' � ,�,� .'�er �.. G a t i' "' Wit# 4� a:i k k ter n. F4r�.A y $ ,,Ytz4 xt sfS.. ;,a'f,,; ti..ur .2 ;z,�h•`t,$"`= } st °t 'X�,. �s�, e r•, �.h:: �,��;.a:X \ ..wFt. ... � ' t�'. �4�', ry� t �P �' � . �+�sk . n ru.GiS' . .,9..: ?..l'�' e,., h •�x.l f r i. ia. •:� a,: i, t.+�>nir, (iv) certificates of deposit, whether negotiable or nonnegotiable, issued by any bank or trust company ` a organized under the laws of any state of the United s .f - States of America or any national banking association (including the Trustee or any affiliate) , provided ' ' that such certificates of deposit shall be either (1) � r 4 continuously and fully insured by the Federal Deposit Insurance Corporation, or (2) continuously and fully secured by such securities as are described above in clauses (i) through (iii) , inclusive, which shall have a market value (exclusive of accrued interest) at all ` ., . times at least equal to the principal amount of such " v ` certificates of deposit and shall be lodged with the ;� `�uas rr Trustee, as custodian, by the bank, trust company ortir,t\'� national banking association issuing such certificates <,r• of deposit, and the bank, trust company or national banking association issuing each such certificate of r,x; -� deposit required to be so secured shall furnish the Trustee an undertaking satisfactory to it that the ,y: ,• : `,-.' aggregate market value of all such obligations securing each such certificate of deposit will at all ;` {"=°' times be an amount equal l to the ?'v?,yr<.: . q principal amount of each such certificate of deposit and the Trustee shall be entitled to rely on each such undertaking. fw ' A =� "Issuer" means the City of Jefferson, Missouri , a municipal corporation organized and existing under the laws of o. the State of Missouri , and its successors and assigns. "Lease" means the Lease Agreement, dated as of r ?' ` February 1, 1992 , between the Issuer and the Company, as from time to time amended and supplemented in accordance with the provisions thereof and of Article XII of this Indenture. z "Letter of Instructions" means that Arbitrage Letter of Instructions from Gilmore & Bell , Bond Counsel, to the "k{' Issuer and the Trustee dated the date of issuance of the Bonds, and attached as an exhibit to the Issuer 's Arbitrage Certificate, containing instructions regarding the investment of proceeds of the Bonds and the computation and payment of rebatable arbitrage under Section 148 (f) of the Code. C "Outstanding" , when used with reference to Bonds, „y means as of a particular date of determination, all Bonds theretofore authenticated and delivered under this Indenture, except: , G) Bonds theretofore cancelled by the Trustee ` or delivered to the Trustee for cancellation; (ii) Bonds deemed to be paid in accordance with the provisions of Section 1302 hereof; and -7- i t T 7N9� �. CJt`t IS�tTt'� '+( :4Y•,}a'• 'rl.tktt tog t j+. t ,:�.'? r at. X..J�s.t`A xi!' i .r 3•�� 'i'jJ.i+s� S 5 htk1',`.ki,;..• ...`. ��" d ��y yj. u t n.+,a��ke�P1.•xi� ":�`� �i:Yr'I x � z ��t: "^^*rr n tF , t i t 1 r�i "i F,t.. .i3 i rry v t� �'{ ?.�••$'.�;''. 'k i 2 ..r.• .�'�MV:>r"�'S ~�;li��:{`, ".�i t.,�'-ti:" ��` d�'t t' ra � }. 1 yw �i i.�i� l' �'i 4pe,,.L, 5 t .3xy ..t �. i±yrr a�.,Cx` �� tt Y� �� f 4 A?"'y nk4,, 1,'.tip FL s. „ r'?. .x.'.r,u•.c;,. i\{ e .c... a „ a b r �i r K r s JJtt z'�.. �{7� ttt"A; ,1:' (ti•Sr` � .�. 'i 4•.5:.''..5r`%.i'.i: k Stt:'"�}.,.1;..,� ! w �� 7 t� ,s:�v sr"• �'tt• ?P' r. 'T"`r' :� 'y?• '.�7,•.t4:. ,;�Nr;,,,�';;,N�...y. .kt 1. :4`,•' rp S ,.x a..1.,..`.t s :. :.a FJi. 4,. rf ek �"r '<' ° ,�s :,t•;�R;t��'t,�"��{ .�:' �t r z ° .• ;'?. s 3#irk# �'F. r { .. g f1 n k 5! �#., tza k t+f '..�� 't ` ° ''+*,. y �.,�tu t !� \YrF > 4•t x.\' � r t i S} c i j i ��. �t�r z7 a� 'j f\ '�Y� �1,ra � Y }�' ' 'F '� " k iy t t t• \ '.S .�ti ..t ,r;V t:'Y r k�•gr#,3`B ,tS i � �' t s .3`,�yi�!'x .piiX.�•ax. n. Fkrt '{ i rp 'r \ .. c••'. .t\ �'L ?`.llt '.} s tY'rtry s.hSt� `t.ih't,i•,. y,K v :4,'Ott.,y ;'C k{. 1'�'`Y}t:k ie IS .t) ..c�. `f V.0. a�'F.i } ij r < t 1 's t`:;i .\ ..}7 t "5.by.(k >C i��.� P}'3�' l r ✓' , •:.� r#.\ �,4ts Pry.y ,�'�� v`. , ty,1 } < ' � ..k �Ft. T1: i r?d x�� t,•.t.r ':D l� Sr} a5, c.• �Fb"i��'�'>`� t,!4�,rii iYwr ,t' � '� :ri ° r 2' ' i:: J.r r .t k �'�i•' 7hh '•y: k' 7 PMlY Fr .s1 f k?. Yr'` L t,• 'l. y'J t {;•. }l :,: ! r' .. l.yi> .'�F�. (, In, >, r,c �t,.-n�ir� �� i.,`is 'µ t , .{ 1 J1 f, rF r \. \r '�. t tsry 1 ��.t7�.}1`�tr;l i�`'�\ �v. 1,!L`A•��f,� yr` ,tx 'k \ tt #:r r. y1VPsL1"e + ' 7? � ;xa yz y ;J 't• �f�,�j� tt �� S ; � �.t 4t'�i� �i"t... L<tk r..3} S .4.�+r .rr,. it { '✓'t`�r(t A4 rkt g•i F i '� �.. k .t i.,'•t ,_Ka.rPi.��?.aa$ � L +r~if i'� ,.`` Y,is+� '7EyS$� Tj,W 1 a Bonds in exchange fox, or in lieu of which � other Bonds have been authenticated and delivered x ' ' pursuant to this Indenture . Owner" shall have the same meaning the term a Bondowner" . as 3r "Paying Agent" means the Trustee and any other bank or t3 .. trust company designated " pursuant to this Indenture as agent for an paying ;. y series of Bonds at which the +' any such Bonds shall be premium, if any, or interest on a payable. Payment Date" means a date on which interest i principal or s due on any Bonds. "Project" means the Project referred to in the r, recitals of this Indenture or the Lease including the Project OX, Site, the Project Improvements, the Project Equipment and any i ]Project Additions, and all additions , modifications , tts;tr$.��4 improvements, replacements and substitutions made to the Project pursuant to the Lease, as they may at any time exist . "Project Additions" means all additions, improvements, �utna ' l.t- � extensions, alterations, expansions or modifications of they <a Project or an �FaYk. r�,,;,f y part thereof financed with the proceeds of Additional Bonds issuedg� .`s Indenture. pursuant to Section 209 of this "Project Equipment" means all items of machinery, }{ equipment or other personal property installed or acquired or r to be acquired for installation in the Project Improvements � elsewhere on the Project Site P is or pursuant to Article IV of the Lease or Article IV of the Series 1983 Lease and whole or in part from the Paid for in all replacements thereof pandeesubsti substitutions 1 therefor made pursuant to the Lease. "Project Improvements" means all structures, improvements and fixtures located on oriltongbe `' . purchased, constructed and otherwise improved on the Project Site pursuant to Article IV of the Lease or Article IV of the Series 1983 Lease and paid for in whole or in proceeds of Series 1983 Bonds, and all additions , alterations, modifications and improvements thereof made pursuant to the Lease. "Project Site" means all of the real estate described in Exhibit A attached hereto and b this reference made a � hereof. y part "Rebate Fund" means the "City of Jefferson, Missouri, Rebate Fund -- Scholastic Inc. Project created in Section 611 of this Indenture. -8- '•r r � > a.+*fxw � �4f� w. t'„ s i i ti j ff r -,---.^-r-n••a ts-�r+ :. x.. k�"i d � N1i f�' •� �( t},� '?' i t.�r .•w - z.'a t t n ; y '�� qn r f �piS�!�$J�Z Fya�irftl, .t w�ar rt , � C 1 f t'� ..� .ik Cry:.:. '"t74 S t ." ,fr+�! + 1;�.�•'ir<a '�,. i'L't?JX's:rT�; A t z .i+y a•. 'e"1�r � �" j n; .<�' *z°X;r�t ^'^#, .y .fe $r. r , t t �+ a �.,. r f' 1 { 1 ..t �' Y 2k�•L.t! �"{,}�, �,�i,b" �yif-r d r✓' 7k'�, ;•3 u E {� r } .• r ;.��j4 1 v'k � r 3 f # -ai �i+x�c'�r•'i'� ac�`�',� lr r�r .s w++1� .fit } s.� w ,� }�i' t t.� � '.i,.. a i t :;`1 r.N�i��r9�stt�-�2.s's .��'"�- i �+ c.i<v�"�t_}�,�,,�+�f�{7- a+'7 u�Se"tvN++c #.� ,s t e '.t •x � �k . er ..1! 1 i �`� ) �" £ �z �yy 1 F � •L, �+&. � 'Ir. ;a ].,. �:� `!' tl ifir.' � 't .J r {k k�t1�ss, ur t.•' ...+ uf`ta;i'`y,� t.r*,t.; ,pb a{t.�t.'_� t `? i�.. ys' S' d yr ..ki L r z i t�yY F'�f; �"�•,£..�+ ,s t.'.x,'' ,p;.to- �J'� rr si`ri .t/s,. i ?,. ,1 r i.i r t t ♦ r rJ: it.' '��I $. �Yt t _'t', ,. G �s'` ,. M1l ? � ltr d l z'�$t<i�•�+Erf�� +.� 0 N { �.1...,.: t... ;I.}� f , y� u�,sg fdr :f {��tti�Y � 1 t.. sd l �f F�... r tt .tt., y...µ ?n.� }L..� ,i. . �r,.i•.�'.�t �r�� i�, � t•iG�� s. �'rx�'�6 a�1�P.ra4;'��`^�;s,�°�„�t yr�((q �s��,�,. ,?cfya �y t'�Ys• i ..a a�, , 1 , � sy +p t .at z:+t�', r.� d4y''s`�„��,a V;��' �'� G�� 11 ••i� J do-.; 1 t 1t�y�} 7 •� hall "Refunding Fund" means "City of Jefferson, the y a Missouri , Refunding Fund -- Scholastic Inc. Project" created in Y Section 501 of this Indenture, "Series 1983 Bonds" means the Ind ustrial Revenue Bonds, Series 1983 (Scholastic Inc. Project) aggregating Proj7 ) , atin 99 9 g the principal amount of $9 ,500, 000, issued pursuant to Section 208 of the Series 1983 Indenture. Series 1983 Indenture means the Trust Indenture, dated as of April 1, 1983, between the Issuer and the Trustee, gr` ,± :?: . pursuant to which the Series 1983 Bonds were issued. ; ;, „ Series 1983 Lease means the Lease Agreement dated as of April 1, 1913 by and between the Issuer and the Company t4� entered into in connection with the Series 1983 Bonds . ;;ys.I:,; "Series 1992 Bonds" means the initial series of 1 zL, Industrial Refunding Revenue Bonds, Series 1992 `•,,r %'` (Scholastic • ,f,�-�•'':; Inc. Project) , aggregating the principal amount of $3, 575, 000, issued pursuant to Section 208 of this Indenture. "Supplemental Indenture" means any indenture supplemental or amendatory to this Indenture entered into by y the Issuer and the Trustee pursuant to Article XI of ." this Indenture. i '{ t r. "Trust Estate" means the Trust Estate described in the Granting Clauses of this Indenture. #k `x� Trustee means The Central Trust Bank, in Jefferson City, Missouri, a state trust company organized and existing w . . under the laws of the State of Missouri and any successor or successors and any other corporation or association which at the time may be substituted in its place pursuant to and at the r time serving as Trustee under this Indenture. ' Section 102 . Rules of Interpretation. °5 (a) Words of the masculine gender shall be deemed and { construed to include correlative words of the feminine and neuter genders . Unless the context shall otherwise indicate, e, the words importing the singular number shall include the T' plural and vice versa, and words importing P g persons shall include firms, associations and corporations, including public bodies, as well as natural persons . < f. (b) All references in this instrument to designated "Articles" , "Sections" and other subdivisions are, unless r otherwise specified, to the designated Articles, Sections and subdivisions of this instrument as originally executed. The words "herein" , "hereof" , "hereunder" and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or subdivision. ' k -9- ly tY yF .r+ f t r atrr M V fi r' ''�i-*P j..§�, 1° ! M 64 I+ f 1 t t , 1rg a`i f+ .} s>�Y `'S / , •* r tt t !t. 1 J 4$u •"yX',y ,y'S •j 1 ,}mod, .:�{• t .'t&' .r d,3 s } t .1,.. r 9 5 ,fit Y`•r a.t It1 of g��. ' .r f F# ; , L',S5 � {i '.�.}r• S. e t t �I �cr 5 1 '•r r ,1Ft k:! j t.,t .S Ct. i l fi ..r s, it t•�+ `rbS 'v� rr: ;. t'i"IV' '':t 'NOT u,� S� �,$�LStfiir•. 4.i. a Y"k" a+<�•" fir f. (1'd'�t F, +� P.� r a + S' ! 7 ✓ .Ii; .;4 ! i4 •.i{• ri.,,iy, 3S 'i" �, s i �5t�kh C�,xn? n,}•.. 5s'.:;lX�r +}t tl t..!. 4., .[ 'N ' ' �`,j✓'_"•i:9):r: 5 r t �5-r rl• ,}X�;+��.�t�.i:` }{j i[�r,�f��•xYli ,,#i t r ,� Ii u, : :s; .r i �.t- t,„I�`�'�},-�� 1" t� y 1 �} yI �i l� r# ' f ..};tf ' .} t ..r �. �}' '!:; t i.y��Ft�l��',yF�i� ea ' a•Vrys t + ysi.•i r f. x{... .. , .. gig a�.• �;..7sz�i J #ti. ' .$�C�4S`:�,.t+•�.'�F,�;4(�..%s.•�.tt�,,,,K...3. .t.?,.r i.tYd��:+' .•,r:, -, .t .'a .. .. Ya ... - .. .. "...:, t. �! .it jt q ��.gr�� p ..:�� v4 a y ARTICLE II t y .v THE BONDS Section 201 . Title and Amount of Bonds . No Bonds may r be issued under this Indenture except in accordance with the provisions of this Article, The Bonds authorized to be issued _;-. °u,t• .t under this Indenture shall be designated as "Industrial Revenue Bonds (Scholastic Inc. Project) " , with such further appropriate particular designation added to or incorporated in such title c ti; for the Bonds of any particular series as the Issuer may determine. The total principal amount of Bonds that may be xtsEtr„t; issued hereunder is hereby expressly limited to the $3 , 575, 000stx principal amount of Series 1992 Bonds and any Additional Bonds 1 permitted hereunder . Section 202 . Limited Nature of Obligations . Yr. (a) The Bonds and the interest thereon shall be limited obligations of the Issuer " " fy < g payable solely out of the revenues derived by the Issuer from the Pro ect, including but not limited to the rents, revenues and receipts under the Lease (including, in certain circumstances, Bond proceeds and income from the temporary investment thereof and proceeds from �t insurance and condemnation awards) , and are secured by a pledge ;;,;= , .tr<;: r and assignment of the Trust Estate to the Trustee in favor of 'Y the Owners of the Bonds , as provided in this Indenture. The {tt''y�y {•S Bonds and the interest thereon shall not be a debt of the Issuer or the State of Missouri, and neither the Issuer nor said State shall be liable thereon, and the Bonds shall not 4 constitute an indebtedness within the meaning of anyh "M':.'' constitutional or statutory debt limitation or restriction. ' `"' : lk' (b) The full and prompt payment of the principal of, t> ' � premium, if any, and interest on the ,Series 1992 'Bonds has been unconditionally guaranteed by the Guarantor to the Trustee, for i . the benefit of the Owners of the Series 1992 Bonds, under the ` terms of the Guaranty Agreement. The Trustee shall enforce the Guaranty Agreement in accordance with the terms thereof for the �,` •'.t' benefit and protection of the Owners of the Series 1992 Bonds as long as any of said Bonds remain Outstanding and unpaid. The Trustee shall not permit or consent to any change, amendment, modification or termination of the Guaranty x; Agreement except to the extent provided therein. a ., (c) No provision, covenant or agreement contained in this Indenture or the Bonds, or any obligation herein or r: f therein imposed upon the Issuer, or the breach thereof, shall constitute or give rise to or impose upon the Issuer a pecuniary liability or a charge upon its general credit . In tip? making the agreements, provisions and covenants set forth in this Indenture, the Issuer has not obligated itself except with respect to the Project and the application of the payments, revenues and receipts therefrom as hereinabove provided. Y dpi —10- tl'. •#Y !. t . a �) t , a pt: ai1 i4aa'i r}• Y..,� '•,•° '� �4. ,' �a t' .. � r �^rr �s•, ., Yr�� (�,f��4s a�; r yt ( ' ti r ' 4 •\ � r\IS f,a t,�<��7y itY "•-t, _ .g.,,v d ,?� s. r�;l t s r :: y .it t; 1 s 4;d 3 j qH7 r.,'r�"�'S 'Na u .}yy�� d{�,A.• �' va't ,,+} r:ta(•,�.ir i+r�a..1' !;yr'��'�+ta� c .. � ((((((////,,.r, ..,i .r. s t ..�17a t s.. ftA��' r,,..t' �, ''�. •'.'x tiv1 � >.3r• r 1vm t a 1y,.i`.'IC'{ 'i; �tts � r ..I, +• , �' � ! 's;yta; rk`'i:!,;.^'.'�'_ '�, C� �a� ? '�.f Yh�+ Y F. '}S((S•to . 66 a4 ALA t 4 w : • :. ' r-r >t✓cy; ",,4'i i}��` .�.ft 3 t t f 7 '; f Y`: fr. 'r,s ri a. '4rt�Ti�n. 4 r a: - .�r, xanxaerr t°?:.77•+liArY.XkZts+n*M,nea+w,nvsr«K,.mf;iYds�x.,.�:i� ,.. t .. .,.. .. `+z.�. ... ., ...r .,. ..,.«.r> ..ax�+:�'e�,��•,'�� . . .... Nt- �. Neither the City Council of the Issuer nor any person executing ,4 . the Bonds shall be liable personally on the Bonds by reason of the issuance thereof . zt Section 203 . Denomination, Numbering and Dating of L Bonds ttSr (a) The Bonds shall be issuable in the form of fully registered Bonds without coupons in the denomination of $5, 000 x<w, each or any integral multiple thereof. The Bonds shall be .' J-A4 substantially in the forms set forth in Article IV of this Indenture. r (b) The Bonds of each series of Bonds shall be e` numbered from 1 consecutively upward in order of issuance, withv = each number on each Bond preceded by the letter R ki- (c) Bonds of each series of Bonds shall be dated as .1 of the interest Payment Date next preceding the date of authentication thereof by the Trustee unless such date of authentication shall be an interest Payment Date, in which case such Bonds shall be dated as of such date of authentication, or ,t. . unless the date of authentication shall be prior to the .first k` interest Payment Date for such series of Bonds, in which case such Bonds shall be dated February 1, 1992 or the dated date of {N2Vj`+`r ?•1 such series as provided the Supplemental Indenture authorizing such series of Bonds; provided, however, that if interest on ,y k5yt1.. r y?}4 any Bonds of any series shall be in default at the time - authentication of any fully registered Bonds issued in lieu of `E.• r`�, Bonds surrendered for transfer or exchange, such Bonds shall be ; T; > dated as of the date to which interest has been paid in full on ,•#. ., the Bonds surrendered. The Bonds shall bear interest from their dated date payable on April 1 and October 1 in each year, "°r4 commencing October 1, 1992 . Section 204 . Method and Place of Payment of Bonds . ? 3 ti (a) The principal of , premium, if any, and interest >. ••. R ' on the Bonds shall be payable in any coin or currency of the { United States of America which on the respective dates of t e � payment thereof is legal tender for payment of public and private debts. ht�^ (b) Payment of the principal of and premium, if any, „. on all Bonds shall be made only upon the presentation and surrender of such Bonds as the same respectively become due and r payable at the principal office of any Paying Agent named in the Bonds. Payment of the interest on. each Bond shall be made by the Trustee on each interest Payment Date to the person appearing on the registration books of the Issuer maintained by the Trustee as the registered owner thereof as of the fifteenth ` 15th) da ( y of the month preceding each interest Payment Date by } check or draft mailed to such registered owner at such person' s , address as it a � ppears on such registration books. 4` °t. � .ca F � ?^ t .t r r r f•- m .��•f•: .� i�� f; +,- t �kr Sra^` �t tt, u i 1}.. X 't��i.� i a�5k;�is7•�� v� a °i��t��4+�%'�j,+'t."y.,,y�t��it { rs '>, r.y v� v t ;,.. l s r �t � q +r � f�t• 77yF ;t^°'S+f'F` &f i F fi S r 74'Y c i ... r: ., ,1. > ,r{��°r'Y t}Y It C'{f9 `-''•,•• ,n�"�� is..�a�'�^�ywn,i7 ' '. �r r t}' . �yi�r� . i.. ,; • f, ..,< .�:�a f t t ' 4`t r 1< , r hr�°t t ws.t SpfY�5 Y `YA:Y Z.T t f✓ ic r51�?x(h ,y.f{gS Y�12Y��i4r PtC'�''• f L`il i� { f ,•1 5 6. .� t t•.�1Z ttl L r�S��aY',i=�7}d; � ,� '�t,(S Tj .tG�r fL 11 yy�YS'i`j i �tl f 1 1 5 '1 �r Rf rt,�•1tb 7�1��1 �£ t •ro} ,,, i�t )t..:f t 5) 7#[ �Ati. r � 7ir'` y Yit Y., i 1u r ;"f#i° { x�:�kY` • " e(t/ +:+v++v rtr`r' $�'t*t 9iirt<m'rw:...,caa ar••.r4..1¢*.•SSS^f'NY'�,.{�. ,'x ...,..t..I;f :1�., . ..t .yF: i. ...}.t. .. .. .,,.. .< jf. tiCt r. t } '� 'Z1Y'rt�r�.• .�dp �.. ;z3< Section 205 . Execution and Authentication of Bonds . (a) The Bonds shall be executed on behalf of ther::a;,; A A, ybq'e Issuer by the manual or facsimile signature of its Mayor and attested by the manual or facsimile signature of its City Clerk, and shall have the corporate seal of the Issuer affixedy ' � thereto or imprinted thereon. In case any officer whose signature or facsimile thereof appears on any Bonds shall cease �: . to be such officer before the delivery of such Bonds, such signature or facsimile thereof shall nevertheless be valid and k. sufficient for all purposes, the same as if such person had remained in office until delivery. Any Bond may be signed by '. t !` such persons who at the actual time of the execution of such Bond shall be the proper officers to sign such Bond although at the date of such Bond such persons may not have been such officers . b The Bonds ( ) e shall have endorsed thereon as Certificate of Authentication substantially in the form set forth in Section 405 hereof , which shall be manually executed by the Trustee. No Bond shall be entitled to any security or t benefit under this Indenture or shall be valid or obligatory for any purpose unless and until such Certificate of Authentication shall have been duly executed by the Trustee. Such executed Certificate of Authentication upon any Bond shall !. .._ be conclusive evidence that such Bond has been duly authenticated and delivered under this Indenture. The Certificate of Authentication on any Bond shall be deemed to have been duly executed if signed by any authorized officer or =_ employee of the Trustee, but it shall not be necessary that the Vf C* same officer or employee sign the Certificate of Authentication ;,iF: �' •t ,- F: on all of the Bonds that may be issued hereunder at any one time. m Section 206 . _Registration, Transfer and Exchange of Bonds Y' (a) The Trustee shall keep books for the registration and for the transfer of Bonds as provided in this Indenture. (b) Any Bond may be transferred only upon the books 1 ' kept for the registration and transfer of Bonds upon surrender thereof to the Trustee duly endorsed ,' for transfer or accompanied by an assignment duly executed by the registered owner or his attorney or legal representative in such form as shall be satisfactory to the Trustee. Upon any such transfer, the Issuer shall execute and the Trustee shall authenticate and deliver in exchange for such Bond a new fully registered Bond or Bonds, registered in the name of the transferee, of any denomination or denominations authorized by this Indenture, in an aggregate principal amount equal to the principal amount of such fully registered Bond, of the same series and maturity and r bearing interest at the same rate. AOL -12- 41, SS t [ 777-:1-777 l 1tC"i`ntttW t :°t t r jz.,v 1g�p}n, t'.�} y �r }{ .ykt'r` ,JX, :#y. ; � `;i4°�s�,� 3�r1�1,4i�lt;"• ! # , t t.'i` f. r r t r c �, 3t a,;� �:5`. }pt' t a,f3li i L.p..`Yt,"r.+'�.k,r3.�34�+. >t,�}g w�xs•"4t�.na#ti i��.i"'�':'r t P°S 'iil}+L t�i}4 r.L.Yt r(sr.+t.•'i..`j i,X.d:u ff`$t y 1 t�:Y.7` 7!R.ti.t.4','.4.(,S7'r :s.�it>��c}`L.)I.i ff,ln"3"x�ta ol p. , '.1 fY,�aaF'+F {ry. t a'._ t if 13 ,Si✓t7FE y,X:,[ •.. - i.,e �' � s,' tx l � i .9r rt�f`f b St• ys�.a'�+`}� J� ,� fit" tt ; ,,` ..., i .. •.} -t 11 f" E-•t 7i raS. »3,�'' t h' ,e y y ...x,,.,7 Rf+ a�C w{ `f ti YK•,4Y li i S a ,, r �,. ' I,.fit:. .i"Ja.,, i.k. .I:.,,� ;i F :, ,��•;ttrr,j,1'.w t 5 t pv t€' 1 s ,+,!'"e �'LYFi',.,{.«rrlfr,.,rat.,o7aX.nS,y,.,4;:.•.F.oea;:f;$ +. ,,(, •4,•y.. ••:y;.. �. .... .!t.: ,...,,. '..,:: r i,,,;, 'r i 7 e s r Si t' f ?'18'#' , k, I P�:• y' i3je R Srh �tr.5�';i it (c) Bonds, upon surrender thereof at the principal office of the Trustee, together with an assignment duly VVR executed by the registered owner or his attorney or legal 1 M representative in such form as shall be satisfactory to the Trustee, may, at the option of the registered owner thereof, be "k T exchanged for an equal aggregate principal amount Bonds of the same series and maturity, of any denomination or denominations j authorized by this Indenture, and bearing interest at the same ` , i ' . rate. (d) In all cases in which Bonds shall be exchanged or transferred hereunder, the Issuer shall execute and the Trustee shall authenticate and deliver at the earliest practicable time Bonds in accordance with the provisions of this Indenture. All Bonds surrendered in any such exchange or transfer shall forthwith be cancelled by the Trustee. The Issuer or the '`' • ' " ' Trustee may make a charge for every such exchange or transfer of Bonds sufficient to reimburse it for any tax, fee or other governmental charge required to be paid with respect to such exchange or transfer, and such charge shall be paid before any ?, such new Bond shall be delivered. Neither the Issuer nor the Trustee shall be required to make any such exchange or transfer of Bonds durin g Y the 15 days immediately Y preceding an interest Payment Date on the Bonds or, in the case of any proposed redemption of Bonds, during the 15 edia uri days imm tely p raced i nq rf�::.;r.:,�.<:,:•.A.,,,. the selection of Bonds for such redemption or after such Bonds or any portion thereof has been selected for redemption. (e) At reasonable times and under reasonable regulations established by the Trustee, the books kept for there registration and transfer of Bonds may be inspected and copied ' s °:' by the Issuer, the Company or by the Owners (or a designated representative thereof) of 10% or more in principal amount of Bonds then Outstanding, such ownership and the authority of any such designated representative to be evidenced to the satisfaction of the Trustee. Section 207 . Persons Deemed Owners of Bonds . The person In whose name the same shall be registered as shown on the bond registration books required to be maintained by the Trustee by this Article shall be deemed and regarded as the c fi. tw. absolute owner thereof for all purposes, and payment of or on account of the principal of and premium, if any, and interest on any such Bond shall be made only to or upon the order of the registered owner thereof or has legal representative. All such payments shall be valid and effectual to satisfy and discharge the liability upon such Bond, including the interest thereon, to the extent of the sum or sums so paid. Section 208 . Authorization of Series 1992 Fonds. (a) There shall be initially issued and secured by .. this Indenture a series of Bonds in the a ggre g ate principal of $3 , 575,000 for the purpose of providing funds for -13- .1" `} . .:f{'�4a��.dfy�!a.. q,x !r 4�, t ` • . 7� i11 � ti;� 1s I rl�sCFtk3 sisi ...!..,tai` 1}�,. �� rt } -• .'• ... t�k s:.� r t �F.rk: rK.•. ';S ,'. -&4 K" s yr f 4?x'Ft:a}Irtll �'. rl ............... { iay�. �.i��ry{i '�ikW7Y1,rtJt�'��k t .t� ;' ['s. 't ,tp; .;• r ;q ��:�••,;�'- .�i-j .��f ;i�'��g(tl�f t��.t .i 14+ jl} :}.' '. +s 9: 5:@Y'.<iA�� .. .,.,.-:z'i�:f.+4��1u?.�..•�. F•^;i�a ..x�t' . paying the costs refunding and redeeming the Series 1983 Ponds on April 1, 1992 , which series of Bonds shall be designated , s y "Industrial Refunding Revenue Bonds, Series 1992 (Scholastic Inc. Project) " (herein called the "Series 1992 Bonds" ) . The Series 1992 Bonds shall be dated February 1, 1992 . The Series , 1992 Bonds shall become due on April 1 in the years and in the w respective principal amounts (subject to prior redemption as hereinafter provided in Article III) , and shall bear interest, ;. payable semiannually on April 1 and October 1 in each year, ; 4, commencing October 1, 1992 at the respective rates per annum, as follows : Maturit y Principal Interest April 1 Amount^ Rate -' 1993 225,000 ..'', 1994 225,000 AI^ 1995 225,000 f+ 1996 275,000 1997 50,000 1998 1999 50,000 2000 50,000 ;1 2001 50,000 f 2002 50,000 2003 2 ,325,000 ; (b) The Trustee is hereby designated as the Issuer ' s Paying Agent for the payment of the principal of, premium, if an Series 1992 Bonds . y, and interest on the ^ (c) The Series 1992 Bonds shall be executed .;: substantially in the form and manner set forth in Article IV hereof and delivered to the Trustee for authentication, but =' prior to or simultaneously with the authentication and delivery of the Series 1992 Bonds by the Trustee, there shall be filed y with the Trustee the .following : a, (1) An original or certified copy of the <I Ordinance adopted by the governing body of the Issuer authorizing the issuance of the Series 1992 Bonds and the execution of this Indenture and the Lease. T (2) An original executed counterpart of this Indenture. s 3 An original executed counterpart of the Lease. (4) An original executed counterpart of the Guaranty Agreement. -14- {it 4ANAwF'}m'rY' r ad ,,t`IN i' ro±� � 3 y, 1iy� i ins �, Y S}t J q9t.4r€ 2 ay 5 Ski Y' J �4��a�t1#�SFIfi �� 3'i r NF 3 t f GGsy aft l tfS, �+ 04 :M ** ,. . ,'. r +. �t 11 1�A1}y'1��;{ 4 #: i �rb � Iirt!i li t oulit `t. ytt}r5 '�l4 ..)t�$�� t�:t i r. 2i�'� ".i✓' �yLr?t 4'N+~ i ¢ z u77s fs t s �`)3 sal %4:r aY^:4g d.' '# T, ix• ,y�ii G7yH rf' -' k ts. i lid t�t,'•;�+ 4!'�.#et rh�yf*; r x,.11-n� 1' ..r ! .CGF .yt.r y., f y ,sYr r✓.# .tr .4,. ,3 � '#in ssi :g Zt{F� ;a •k k t X � i ? ¢f. 'r � (r � ..�,3 �� 1 , .�.. f .!s �,titrk},� r ��k�'. 'L... i�d�i§t i �'T `�s ;� a � � ,.!�y s'i IS :� t 1 t . d' t f .:> t ,• f r a �*- ¢ �� j�' •,6 t � fp � 1 ��`. ,i �.: s1 rv,r a �i"F ht�ro� tt 1}, > � a i norlll��.11e�I1b1�Y11!}d iMd116�7(fM'S! r' 1. '+ t 'ars, s i .A x,. i i ,`p„st f•l!} y N f �'� '..t,. rt s r�'�tt�t 1'4. `I#x . bw:vaa-'d�sR'M+, .° i?Ya',r#,.�u".ilkiSaa?d ,tl:'s.4Si,.✓at?=4?: ;i+.zi:J ::..a„_,., r �,rlve ,>,.. f>...�s.. MYh k{G ('S) A request and authorization to the Trustee on behalf of the Issuer, executed by the Authorized ' Issuer Representative, to authenticate the Series 1992 £ '°} Bonds and deliver said Bonds to the purchasers therein identified upon payment to the Trustee, for the account of the Issuer, of the purchase price thereof. The Trustee shall be entitled to conclusively rely upon such request and authorization as to the names of . .:,; the purchasers and the amount of such purchase price. (6) An opinion of counsel nationally recognized ^SaX�'r on the subject of municipal bonds to the effect that '-p the Series 1992 Bonds constitute valid and legally binding obligations of and that thef` '"r"' 3 the Issuer interest on the Series 1992 Bonds is excluded from gross income for Federal income tax purposes . ""`'L'"" ( ) Such other certificates, statements , receipts and documents as the Trustee shall reasonably or the delivery of the 1 1' require f deliv Series 992 Bonds . ��•`""�"' r: (d) When the documents mentioned in subsection (c) of a r this Section shall have been filed with the Trustee, and when the Series 1992 Bonds shall have been executed and s7�ydi/d�j, t� authenticated as required by this Indenture, the Trustee shall rykN '. 41,deliver the Series 1992 Bonds to or upon the order of the zx '' purchasers thereof, but onl y on u � 4 p payment to the Trustee of the purchase price of the Series 1992 Bonds . The proceeds of the , sale of the Series 1992 Bonds, including accrued interest and Premium thereon, if any, shall be immediately paid over to the ' Trustee, and the Trustee shall deposit and apply such proceeds as provided in Article V hereof . ; r 1 Section 209 . Authorization of Additional Bonds . ' (a) Additional Bonds may be issued under and equally k and ratably secured by this Indenture on a , parity with the Series 1992 Bonds and any other Additional Bonds Outstanding, ; at any time and from time to time, but only upon the written ' request and direction of the Company and upon compliance with the conditions hereinafter provided in this Section, for any of the following purposes: f' (1) To provide funds to pay all or any part of the costs of repairing, replacing or restoring the rY Project in the event of damage, destruction or condemnation thereto or thereof. (2) To provide funds to pay all or any part of s the costs of acquisition, purchase, construction and installation of Project Additions as the Company may deem necessary or desirable and as will not impair the nature of the Project as a processing and distribution ' center within the meaning and purposes of the Act . -15- aY� A 7 KY r"{� '*gy _7{,3+ ��°4}�,,h,{t.i.4� F 15 + yr s t -c t. y - r. + �in'gr�V+ ''+ lTi^4 4 S�7-lYi�^`�`yt�' .r43'3 3`ftt� { A t ti d k '`t + .S ! 'i { t, s' r fi + , � ••J.fL i f lk t).. 't '�Yi �R r '.Y++_,J'i�fe.'?✓'.:vsi?5�t�d r��Xq� '?p�:;'•izro d #'e'iy tt S'• t �' r r, ~ �i:{� " ..fR rkt h;`5; s��'��fa' 'k �'+��:`, "" .}% Tp.:4.`Yt%:':-..rr?+ ( z C ,�t ,t V 4 <: t \i 14. °",'<•ij55",`,sS.�',,Y; ..?k7'ti' '.it Y .,:j.t ti�'+ty • Y > wL 11111-M . .:.• ' '(s'Sr, M lI °` J: { 'Y c 1 •�r`kl��,�tp�ltd r � 4 , :. ,,. 's , �vta'i,'T`?'I�raL'�n-vr'9"� irr`t'a.�IT 1,#"k a•rl'� uk.:4'. .,•..:,:i `�' +e td'.`4 ';tx ,�' r;: � �t �' r t 1 SP:'�t '.f: {Jh t r! 'a' it, �r,1�,x 1$. ..-.C'�J$ki"{a`:a,�.�I�.et,:.a;l..��1r...x=..r.�i�a..:.y. ,:.r... .._ta :..:.:r, r.....e.T.,:., ..::'.., " :':;. ., t. . .. -.^.-. t ;'•ir{ '.t<L t -�{.�i�t{��,�ir ' !.'..v.�' c. MINIMUM (3) To provide funds for refunding all of the Bonds then Outstanding of any series, including the 2gyr "4' payment of any premium thereon and interest to accrueF to the designated redemption date and any expenses in "F connection with such refunding . 3 (b) Before any Additional Bonds shall be issued under the provisions of this Section, the Issuer shall adopt a ordinance (i) authorizing the issuance of such Bonds, fixing the amount thereof and describing in brief and general terms the purpose or g p p purposes for which such Bonds are being issued ¢ or describing the Bonds to be refunded, (ii) authorizing the Issuer to enter into a Supplemental Indenture for the purpose of issuing such Additional Bonds and, if required, (iii) authorizing the Issuer to enter into an amendment to the Lease with the Company to provide for rental payments at least sufficient to pay the principal of, premium, if any, and interest on the Bonds then to be Outstanding 9 (including the Additional Bonds to be issued) as the same become due, for the acquisition, q purchase, construction and installation of the Project Additions, for the inclusion of any such Project -' Additions as a part of the Project , and for such other matters 1 as are appropriate because of the issuance of the Additional Bonds 3, proposed to be issued which, in the judgment of the Issuer, is not to the prejudice of the Issuer or the Owners of the Bonds previously issued. (c) Such Additional Bond shall 11 have the same t+'rrT t:`ti designation as the Series 1992 Bonds, except for an identifying series letter or date and the addition of the word "Refunding" , lr.•.i: $.n+.�+. X when applicable, shall be dated, shall mature on April 1 in ��;<..• ;:, such year or years, shall bear interest at such rate or rates sg 't not exceeding the maximum rate then ,N �_;{ permitted by law, and shall �;� :��;;.;�,;,• be redeemable at such times and rites �a P (subject to the provisions of Article III of this Indenture) , all as may be { FS provided by the Supplemental Indenture authorizing the issuance ' of such Additional Bonds. Except as to any difference in thewY date, the maturity or maturities, the rate or rates of interest '° s or the provisions for redemption, such Additional Bonds shall be on a parity with and shall be entitled to the same benefit r and security of this Indenture as the Series 1992 Bonds and any us other Additional Bonds Outstanding after the issuance of such Additional Bonds. y : 4;•�q r a (d) Such Additional Bonds shall be executed substantially in the form and manner set forth in this Article and Article IV hereof and shall be deposited with the Trustee for authentication, but prior to or simultaneously with the authentication and delivery of such Bonds by the Trustee, there shall be filed with the Trustee the following : : (1) An original or certified copy of the ordinance adopted by the governing body of the Issuer authorizing the issuance of such Additional Bonds and 1, -16- "MMY x�4,z 3 } •�ypG".."'.- t. r,.,t+x rMtq --777" k fftzai + F a t +',tt.s •�'4z .'�r�t; d1Y Ir`i kr{' T f.`f� � �f t { r:`t.t .,i d � k^it11.��.��'t y�kS•a.t� t �'' :j� t! t .V ,�t 7•I'' a✓f 'C"fi''V t�! ¢"at r � a , 1 , �Wr•}i 1 W +�{y 1{ z t Aa"Y•t`hYri'"Se ?!�v }e .\•.) 'kf�y�,�ki5�j�e3 Y�rK( Fr kl{ yl G t'Y ''t' 'Y yVF..'4k��p�� t z 3vf�'�y .Pr ds ls ii3a 'i bl t. j� 'r, .,t 1} "� }r'r♦ iY, t .a t }. .:;.;� e rF.lat }.1?�,�J'd�Ar `{{I ;p+';�• .. �, y,,p,i��'d+ } " .•w' ' ,. ' } J 'tat .,i' � 4�' y}ti¢`a�,ia• ,-rrr,'t.5 .. ., .. ... '.t tr3 ,N:i xL � �r�S4 t5�{''S t '4g•. t c ii MINIMUM �t >X•�j�{t�.i,?+ ki�'1E {A;g1t:tPUtt,r�tsj�:J,7.,.tU�ath i::✓� q. t tlstt�.d��,2"Q.y tt'r'v;�f'"N" id..s�.y..r,,� y w, �y„�i:,�•Ea r !'• 4x' `,y., vC'}�L ",•�v`1i.'i•. iya;f�:d1{;t-J,t°,�'1'� jM'�..�'('�ty 3,.i,. T'tl 'Y• 'yy�it!S,•' t C'(' tt+'1,11ri,e rv. a'".lirh`.C :°t1r Y'^.�° �Zy s :'i`:,.er..l.t.•. '.:'t .> .'ll .....i t.'... .,.'i: ^`.`.` . .,.,`,,.. t. .. •tt:'i :i``.l `• {, r fi the execution of such Supplemental Indenture and Lease � F. amendment. ; y (2) An original executed counterpart of the Supplemental Indenture providing for the issuance of K �>a the Additional Bonds . . (3) An original executed counterpart of the if required. Lease amendment, (4) A request and authorization to the Trustee, ,Ari on behalf of the Issuer executed by the Authorized 30, Issuer Representative, to authenticate the Additional Bonds and to deliver said Additional Bonds to the .t' '", purchasers therein identified upon payment to the kfnys;q Trustee, for the account of the Issuer, of the purchase price thereof . The Trustee shall be entitledf '""� ' �tT,i�.r d�4 ' to rely conclusively upon such request and authorization as to the names of the purchasers and n ±h;Ft':;;,,< the amount of such purchase price. } ` ' 4p Jlt rr'i y-,:' (S) An opinion of counsel nationally recognized ;fik = 1 x on the subject of municipal bonds to the effect that the issuance of such Additional Bonds will not result in the interest on any Bonds then Outstanding becoming includable in gross income for Federal income tax purposes . , In the case of Additional Bonds being issued to refund Outstanding Bonds, such additional documents y as shall be reasonably required by the Trustee to '. evidence that provision has been duly made inr°"i "`° accordance with the provisions of Article XIII of this Indenture for the payment of all of the Bonds to be refunded. k. (7) Such other certificates , statements, receipts and documents as the Trustee shall reasonably 0 require for the delivery of such Additional Bonds . (e) When the documents mentioned in subsection (d) of T this Section shall have been filed with the Trustee, and when `y such Additional Bonds shall have been executed and authenticated as required by this Indenture, the Trustee shall r` deliver such Additional Bonds to or upon the order of the purchasers thereof, but only upon payment to the Trustee of the fi purchase price of such Additional Bonds. The proceeds of the sale of such Additional Bonds, except Additional Bonds issued , to refund Outstanding Bonds, including accrued interest and :* premium thereon, if any, shall be immediately paid over to the Trustee and shall be deposited and applied by the Trustee as provided in Article V hereof and in the Supplemental Indenture authorizing the issuance of such Additional Bonds . The proceeds, excluding accrued interest and premium, if any, which -17- `< !Y i � `� t r.i`,{!ig �. M�a�. y4j� � .<'i� yr�' F�" ° F�t�t�,' ,,tit• �vlir' +o':j a kf�"�.#� �t�, �i� �r,CECP�S�J: d ' 't4dy�^7�...' '4 0k}' 1w 1`;`�`$r^f -.r'..t'l r t 1.+�`' ,i { .i 1r. `•` fit'�,J f� ffl ,53�1�.�s..?y�j:iC�k f��i..�:,�y� °l�! � �y. �./ •• t tt t c '; P,. 1 ItS'i4; Sljf r�i)�jr'�P.,�{,,�g�1 it `'�< y. r�x� .:'t t ,kl i 'a a "i�'^"r n. 4p+ +;., rt v!t e r '.�}fit j a -i :W� .•il � `xi 111 IN � .tA?t r�45}frg-'F.'ir JS,�.`,.t° f�iN�;, r l�t.+"}q. r[i iv .sy'1•:J .Y•& �: Y ;F r`..y��^r °�;i.'6 S r tr ,. a.3,f � '4t r Ff Y..t a S r i x c1 susjjs Si s F S f i. t , +,, r ,. .... ...... ....> .,:., ..4..;,,.f� ...,.i<- ;h :LrF,ti,s.F :,:��rx�,t +•r�7 . Pc}6'�."5�i;3 3t. shall be deposited in the Bond Fund, of all Additional Bonds 1 issued to refund Outstanding Bonds shall be deposited by the Trustee, after payment or making provision for payment of all expenses incident to such financing, to the credit of a special . s •, trust fund, appropriately designated, to he held in trust for r h "'0 the sole and exclusive purpose of paying the principal of, premium, if any, and interest on the Bonds to be refunded, as i provided in Section 1302 hereof and in the Supplemental '; ,., Indenture authorising the issuance of such refunding Bonds . - 4 (f) Except as provided in this Section, the Issuer � > tb • will not otherwise issue any obligations on a parity with the Bonds, but the Issuer may issue other obligations specifically •l;��'�•�ri ,y . subordinate and junior to the Bonds with the express written �''`' 'Rk• '.# consent of the Company. Section 210 . Temporary Bonds (a) Until definitive Bonds of any series are ready for delivery, the Issuer may execute, and upon request of the Issuer the Trustee shall authenticate and deliver, in lieu of definitive Bonds, but subject to the same limitations and conditions as definitive Bonds, temporary printed, engraved, t.: ;�;�,�.µ ,• . lithographed or typewritten Bonds, in the form of fully registered Bonds in denominations of $5,000 or any integral ;;;.; multiple thereof, substantially of the tenor hereinabove set forth and with such appropriate omissions, insertions and }:. h variations as may be required. (b) If temporary Bonds shall be issued, the Issuer `' shall cause the definitive Bonds to be prepared and to be � .. executed and delivered to the Trustee, and the Trustee, upon rY' presentation to it at its principal office of any temporary �' nK ' Bond, shall cancel the same and authenticate and deliver in L exchange therefor, without charge to the Owner thereof, a definitive Bond or Bonds of an equal aggregate principal Klv amount, of the same series and maturity and bearing interest at i the same rate as the temporary Bond surrendered. Until so exchanged the temporary Bonds shall in all respects be entitled to the same benefit and security of this Indenture as the definitive Bonds to be issued and authenticated hereunder. Interest on temporary Bonds, when due and payable, if the definitive Bonds shall not be ready for exchange, shall be paid on presentation of such temporary Bonds and notation of such payment shall be endorsed thereon. r� Section 211. Mutilated, Lost, Stolen or Destroyed Bonds . In the event any Bond shall become mutilated, or be lost, stolen or destroyed, the Issuer shall execute and the Trustee shall authenticate and deliver a new Bond of like series, date and tenor as the Bond mutilated, lost, stolen or destroyed; provided that, in the case of any mutilated Bond, . AM such mutilated Bond together shall first be surrendered to the Trustee, and in the case of any lost , stolen or destroyed Bond, 5 ,r -18- r *ri� ', 77 "Imialill IN 11,J f�X��+�Si�Sjt ar.�Sr d ` ,i .c rat°•-. ZE� ,x s� �r 1f. T�' r .r`vt."'. jf 4� <s t,>?, 1 s � .i 11 5 .t�S„�tFrr ,b,,,•f3 tt��. <i„ '�Iy, ) .s•. •�r�.. •.�f rh rid '.{iJrr t t•{t ft`;S rr:a .rl ',r 1 0? '}� c !y y :it .2 1 t,r t tc�ryL FfA ri.F:"- ;f'!'t y � � i�SP•{dY .SiZ ••! h� y$•: 'tj. r'� �:'f ! r ,� •.42r. .a` s } �. sr{•! s'�k;� }��",•.,r l�si� ��.trora,r"�� s rS' ��r rr�a.� f,.��•�ri�`a�.>ii:'3,i;�FYfsr�1;;F. ',a �. r s .+ d t. ',art ! sy '�`'�xa 4.�'.Fi,:•:�.i:�',+;�'¢,sr ;`i�:.,.i�ti5tp,; }>�"; b` � 3' .'F< £v3 "�ar'S3��;�`' 4: �P�{5,1-t 1 :+•��t 4r 4s :i F r '�`. � r I r.. YA .?i'" -v ! F r s t `i � r(+.1 .5�'Eit,��{11� aRr`7�`�'a{��t`it��' s� ^4 S, y: ! � f c.. d r �+i�•r�.Jk +p_�fiY � +�',•?�j�.;:(r°Cit��+k.tt'r.+ It�j .i��S"5'S a i44 t. t n 7r r � >•.�� f..'. u.y f ��{ .t45t.try.fl4vt?` k 1 { rC�� k c 3�'t +r,•rr. ._! t i c; � #s' t'�:7gs,` ,,�� ;g � s � "� '6 � -'.S: '•S': r r r. i a s,. .T Y .r ttt� .t;.'``'x '� �''✓a �}+ tt,�. +tr t r�. .s t r� .r •�.. �- r�t�j� � $t{>1� 1�. ylre�ivlx.!4 r ; t t 'r., �•s +P't :r,� 'fit ;+! i� �.t"'>� }� 9 � � r' }! j ✓E i k`i.= >:ti t? .y t.r t .,� (' S r!, i t i, ! t' Y r r t � ��;•+ k1 tl • ar :n •z , tx :�!:}.tty„ n� r . .` ",c+t�'#C� :�. 1��`?SFA��,:. ,:.w. ��b.f,:S;�:4t!i�.i.,.£'j:..'xs2P:a.z�::., .:ar-,Y.•_..,.,. ... ... ;t, ,r , .:+'1.. �k;s r .dti. f ...rein.?:,,.{.r:.:�i.•Srrr3Y. .. . 5 t y i there shall be first furnished to the Issuer and the Trustee '" evidence of such loss, theft or destruction satisfactory to they j Issuer and the Trustee, together with indemnity satisfactory toy' "` �Y. them. in the event any such Bond shall have matured, instead y _, § of issuing a substitute Bond the Issuer may pay or authorize ' the payment of the same without surrender thereof . Upon the issuance of any substitute Bond, the Issuer and the Trustee may s:? require the payment of an amount sufficient to reimburse the Issuer and the Trustee for any tax or other governmental charge that may be imposed in relation thereto and any other «. reasonable fees and expenses incurred in connection therewith. a' f. Section 212 . Cancellation and Destruction of Bondsn , upon Payment ` 42 a All 'Bonds which have been paid or redeemed or which the Trustee has purchased or which have otherwise been Y'" }. . surrendered to the Trustee under this Indenture, either at orys5+ :. before maturity, shall be cancelled by the Trustee immediately r: upon the payment, redemption or purchase of such Bonds and the ;;x •'?1='« surrender thereof to the Trustee. (b) All Bonds cancelled under any of the provisions of this Indenture shall be delivered by the Trustee to the U Issuer or, upon request of the Issuer, shall be destroyed by - the Trustee. The Trustee shall execute a certificate in triplicate describing the Bonds so delivered or destroyed, and shall file executed counterparts of such certificate with the Issuer and the Company. 4 ?'" ARTICLE III REDEMPTION OF BONDS Section 301. Redemption of Bonds Generally. The Series 1992 Bonds shall be subject to redemption prior to maturity in accordance with the terms and provisions set forth in this Article. Additional Bonds shall be subject to redemption prior to maturity in accordance with the terms and provisions contained in this Article and as may be specified in r the Supplemental Indenture authorizing such Additional Bonds. ; Section 302 . Redemption of Bonds . (a) Mandatory Redemption in Event of Taxability. In the event of a Determination of Taxability with respect to any Series 1992 Bonds, all of the Series 1992 Bonds then Outstanding shall be called for redemption and payment on a redemption date established by the Issuer (which redemption date shall not be later than 120 days after the Internal r Revenue Service, the Company or the Trustee shall give written e{ c -19- r 7 ....-.. OM ,Y a.. t x'L'.G�'ly`.."�r•'td S 4 s, t yi, n.Yw,Ftx if T ��:ij ,`' c>� F� :;�, i y .ar-v zztt, ^?.E�'.5 ¢ ,, p y 4r 3. fieCt�p t 4i .r�',a(f.'k al^ )S`t Y' t ;,� 4a t(`rrx(•'� 1�#,}��5 r, ,, it ; tiNJ Mxr'n .Y. ,li <a4:x�: ku:..;5+�.t 4' �' "=r` ,4r. 4 ,. ..t t .,?S x ;n�,`'^,M1}3,}.,x-'•5?{}r' ,#S`» e �,7 i'isr t .,, d 4 t •+' 7 .,t.tx ti fM t�} ` F)d i`-t,,� S4•r * `t r'c': YY 'j ,f, ++'..� J .ri �"t.+ •t ^k `tirayt t � "xi i'r r {f 9uL lx,.ter ' X. #Y;f. si {�� ttigst .1,r f 10, r 1 fy e .- �. {s, � t ' 7Ft' rf'`riJbr ' 'n��Ct�tt� t . ,+• r r. ..., i: z S r :b}t t"7 F'U'I .7, H }yx;, }5�r ..�,. liglj F IDIOM 4M , .2 r'�)'r i 'trfy^ s+3ik •' 4• ''•�• t'':y/t..�� 'r,;�'ti '- h•J�r TT U'1�?,Y Gr i{A� '•6 'n"i 's` y,(•�7 ',. r 'a ..x �v NS � Y> R. A�9 pi+•r !jbV 'f''t.,. - ,r-1 ra•17,. ..:1,.....'!1J, •. .,..,';` .'a .tx 353`v. �r ' tx�µ. d -Y..4 E, f •n�"f�Y r t .�f i kl notice to the Issuer of the Determination of Taxability) at the principal amount thereof, plus accrued interest to the redemption date. : A (b) Extraordinary Optional Redemption. The Series YE µ 1992 Bonds shall be subject to redemption and �� . payment prior to the stated maturity thereof, at the option of the Issuer, upont;:Y instructions from the Company, on any date at a redemption price of 100% of the principal amount thereof, plus accrued d :. interest thereon to the redemption date, upon the occurrence of any of the following conditions or events, provided all of the * ' Series 1992 Bonds are redeemed and g paid according to their terms : (1) if title to, or the use for a limited period of, ' substantially all of the Project be condemned by ��, =;�1�'�t��J any authority having the a;�ax` �tt rti Y g power of eminent domain • (2) if title to substantially all of the Project is t T b•. found to be deficient ?` or nonexistent to '�` '" ��;•��' extent that the the Project is untenantable or the efficient util ' ization of the Project f:. Company is impaired; by the t'. 'X +,.�,dykes:.;'•. (3) if substantially all of the Project is damaged or R� destroyed by fire or other casualt ''m (4) if as a result of changes in the Constitution of the State of Missouri , or of legislative or administrative action by the State of Missouri or any political subdivision thereof, or by the '} United States, or by reason of any action , instituted in any court, the Lease shall become void or unenforceable, or impossible of performance without unreasonable delay, or in any other way, by reason of such change of circumstances, unreasonable burdens or excessive liabilities are imposed on the Company or the Issuer. ��. (c) Optional Redemption. Series 1992 Bonds, including portions of fully registered Series 1992 Bonds, + maturing in the year 2001 and thereafter are also subject to redemption and payment prior to maturity at the option of the Issuer, upon instructions from the Company, on and after April 1, 2000, in whole at any time or in part on any interest Payment Date in inverse order of maturity, price of 100% of the at a redemption interest thereon to the redemption d te. thSeries plus accrued be redeemed and 1992 Bonds to paid pursuant to the provisions described above shall be redeemed in inverse order of maturity, Series 1992 Bonds of less than a full maturity to be selected by the Trustee in such equitable manner as it may determine. _20•- ' V DINNER! 11 SL'yh,"'F r•� � .��.FC ��i, 6 { 5yt � t J ' E "rr .,. w s ' t' A + J}�Y"+ tidy?�`�tJ1�T fP S�f is�•�'t�£ .+•�2;l f �•T"^.i,i { }�F t�l�4y•1 .1i '\�ti'T.` � 1 � J�� " Aa YK" {�S!y�, t�•l'} t"+��/f�'y�� ,,6 r 4 { r � . � t >t.�f �d, Us 'L ,#` t'i. tftt- tss'dP'S.' r +t{ ,. , I @% ';�`Y fl? r v}• terr • � } "�t.,��;�v,.^ r (�l<'�":�� tr)„� �^y1 } R sx '.to .k .M .yl t. fr 4 Nn��qtr mod, tr,f;.ts.,�13K 1 '3 a`w Lq�+`J- ,.{ .c� ' .,;t-ran � a z.t } t rW �r.at{?�{bpt � � �'4X•'ia .� ,f t� �� fiu a 7z„t'�.7i a. �}, �yh y4 ,. .sf !t ' .rJ, r 1d.,. t tips ” �,•:r;� y �� .r�'� �� m :,�-i' pr��`,�'�r�.�f��b:s�`�� t <•r'*{a �` r :� rat 4 t �t ., ,� � rt. !t r z �,.. ra �+ t t4�.. '�`ti �.SR��...�� >,>e�v" }ya{ Y. �4.j t- t �� t r t,�� s. � '. -�i t' {�. a.t• r ,``J .r.. t i,�h (��,otp�'}} ry rh>,,r� �_' ;,r. .� >`4t:2. '��.�;'��+ u�_s�:l��?'4rz" f i'• � e tr � .�d 1 ':r. t`'J.. t t ,? t� J �t a�"Fi'�, sh,'.�` � - i. ,1„i .{"11.• r{t'fi a Y�. .(� P, i�N .v. ! t ,'y,}.{•.y a.tt Pk tt'r I" ` r q " �� i. ,� ! ft.,l ^�7� �t 7 :�' '` .jii ,. f." .ut" '��Y1 ��` � f.Jd d��j�AJ,1 a • 5 ri f - x.,.,'"�i?7^YiS��ii'15T: Section 303 Selection of Bonds to Be Redeemed. iris < p, k Bonds shall be redeemed only in the principal �r amount of $5, 000 or any integral multiple thereof . When less than all of the Outstanding Bonds of any series are to be Ys 4 redeemed and paid prior to maturity, such Bonds shall be redeemed in inverse order of maturity, Bonds of less than a full maturity to be selected by the Trustee by lot in $5 , 000 � � M units of face value in such equitable manner as it may f, determine. ?; . partial redemption of Bonds b (b) In the case of a Y lot when fully registered Bonds of denominations greater than then for all purposes in then Outstanding, ` $5, 000 are g� connection with such redemption each $5, 000 of face value shall rf , a R�� be treated as though it were a separate Bond of the 3rk4 denomination of $5, 000 . If it is determined that one or more, .- but not all, of the $5, 000 units of face value represented by any fully registered Bond is selected for redemption, then upon notice of intention to redeem such $5, 000 unit or units, the owner of such fully registered Bond or his attorney or legal representative shall forthwith present and surrender such Bond ;.I{ to the Trustee (1) for payment of the redemption price 3 (including the premium, if any, and interest to the date fixed 000 unit or units of face value for redemption) of the $5 , called for redemption, and (2) for exchange, without charge to the owner thereof , for a new Bond or Bonds of the aggregateAti; ;... principal amount of the unredeemed portion of the principal . ;, ' amount of such fully registered Bond. If the owner of any such �,, ,•:v ,. W,... fully registered Bond of a denomination greater than $5, 000 \5 shall fail to present such Bond to the Trustee for payment and .Y;u '. A +aki r exchange as aforesaid, such Bond shall, nevertheless, become due and payable on the redemption date to the extent of the �1 $5, 000 unit or units of face value called for redemption (andr `r to that extent only) . Y' s Section 304 . Trustee' s Duty to Redeem Bonds .; x : (a) The Trustee shall call Bonds for redemption and ,1 payment as herein provided upon receipt by the Trustee at least 45 days prior to the redemption date of a written request of the Issuer with the consent of the Company. Such request shall specify the principal amount of Bonds and their maturities so { to be called for redemption, the applicable redemption price or y prices and the provision or provisions above referred to r .., pursuant to which such Bonds are to be called for redemption. ' (b) Reference is hereby made to Section 5 . 5 of the Lease Agreement, wherein the Company is given the right to direct the Issuer and the Trustee to redeem Bonds under certain i ' circumstances, to the extent there are Bonds subject to redemption at the option of the Company under the foregoing ' provisions of this Article. The Issuer and the Trustee shall comply with any direction of the Company given pursuant to said ' Y9'c -21- xywv �""'*'�y5i� >rs3T�v;'itq^ k,r '"t. ty .R�"•y� ,�� !d i�f{�'�71-�1��,. � a. J>'s, .{: fl 7 ^'' }.t.. :r„i Iry �q�i r'1� � .}eNhti ,:ffyyr t�a.,�k;y�'�vya:11i��"�>'tx�a i �i. i .,h •1 1 t S`. .4 .j 1�` v, .'7'+ ” tr ' al i� tk t..1,,(< •� .,dry rs,�eSt-""f'�,. +'•',:(2 '`ft^ r ♦f d. -YF tr �r.4 >,°4,.�. t .& tn?; rZFi' A 6P ,y.:t ,tT. Fi r '8 . Y: �;'�'a�a.•ii;i yam.. 1Sr i Section 5 . 5 of the Lease Agreement upon satisfaction of the # ' conditions specified therein to the Company' s right to direct such a redemption. Section 305 . Notice of Redemptionry `` ' (a) In the case of any redemption of Bonds at the °z ' option of the :issuer pursuant to Section 302 , the Issuer shall f give written notice to the Trustee of its election so to redeem, and the Trustee shall be entitled to rely conclusively . on such notice in exercising its duty to give notice of the { ,• call for such redemption as provided in subsection (b) of this Section. Such notice shall be given at least 40 days prior to the redemption date or such shorter period as shall be ,;: � Y;ty,; v tit�,.,•.. ' acceptable to the Trustee. (b) Notice of the call for any redemption identifying the Bonds or ' portions thereof to be redeemed shall be given by •,:�,{;.�' �-.' ' ' the Trustee, in the name of the Issuer, upon mailing co P g a PY o f the redemption notice at least 30 days prior to the redemption date to the Owner of each Bond to be redeemed at the address ` shown on the registration books maintained by the Trustee; F; provided, however, that failure to give such notice by mailing as aforesaid, or any defect therein, shall not affect the `•iii%,:d';:;r: U validity of any proceedings for the redemption of Bonds . Any notice of redemption shall state the date and place of redemption, the series, maturities and numbers of the Bonds or << portions of fully registered Bonds to be redeemed (and in the case of the redemption of a portion of any fully registered Bond the principal amount , thereof being redeemed) , the �'`. redemption will . p price and that interest cease to accrue from s��,'s} 4•rj � �!S�iq Atv,ti. ` and after the redemption date. Section 306 Effect ti{ 5 ect of Call for Redemption. Prior to the date fixed for redemption, funds or Government Securities ,4•,r shall be placed with the Trustee which are 'sufficient to payY ;, • the Bonds called for redemption and accrued interest thereon too',,. the redemption date and the redemption premium, if any. Upon , ; the happening of the above conditions and notice . e having been ,., ,a ��. given as � II N g provided in Section 305 hereof, the Bonds or the � "' � ,r� portions of the principal amount of Bonds thus called for ' t redemption shall cease to bear interest on the specified ' redemption date, and shall no longer be entitled to the t; protection, benefit or security of this Indenture and shall not be deemed to be Outstanding under the g provisions of this - Indenture. S. V 9: 4, �d °22- G a �—.. f. 't ��w...... --..-�r�f"�rlfh"�14�tn.'j�t'7 iJ1'r.�nT+iG3S.3?Ifit'E:'Xntxs,wM^•'_.' _ �'..++w.rM+wwww*qc � y t y t, ..'tX .� F5• t 3l'f 5J 1 1 {` t', f'�' ,1'� :if ] :. •, .�. R�.''�";':e9',�� S 7��'K4 ,j'rl{J t�' t.r+r ,� i'r ,5 t :'^-^--. � .�{� <J J'JJ� {�.4 .(t•� t.`yT;i N+�.3'^121;,t ��{',,fj• ,a•? , 'ln f ^i�,j 4 ,z . 'k l:{'fir r. �y; 3f�t�`.Yy'�s�� Y ,� °'V`�.��i$(ta�. ..fe•, ;n'£�t}�yr4, st 4 tt� 1 E r Ft 4 ��k .. t °S a �'•:.r 7�;:;.•s';;d:;��a Jrati,+;z�+�+, ' ,:r {k,,° a,'h Y iP� ,.,t ,f .r3 J , ^u'v.FC, i`,`,•.i'�l k'' Yr."."+w�t,TSt.�, �1'}}t t >!.7�y ac�:t,v« '�r4(.,rsn �f(� .;�. .s' t�. ,n:.; .S�' Vs .t` I ? .. r : !,. � t ,tkr�'.s •�t.}{�` t ..`�i?5� i �{ zi�3JwF'+� i�*K;y.,ertt.�t}a.{. •.t, t+l�'r, ". . � s { , a6 aaat�. 3ffi�'S` '`r�'j``iv'a t r•'�� 1 ('N;v'k�� +�,v fi� ,. t r;� 4 _f.,, r y Ys.. y•, s r' + .tt ��iT.t i �1' f4�'�'F' � } k .4. V,.{'��j&x:( s��t`• �j ..sf` tt t .)" l ' 4 i :% , ' s .aPt,;,xft'jr",k('.5!,,ry, hr t y..{ !Elmsi :.�y�c'� iV•. � ��! 51*',$i:f+'d�Z�'°}t'�;i,r�.Y�'a` N �V'f ��;1i`��'. r�s;s.- W41 4�.,W;v "W, ARTICLE IV FORM • BONDS Section 401. Forms Generally. The Series 1992 Bonds and the Trustee' s Certificate • Authentication to be endorsed thereon shall be, respectively, in substantially the forms set forth in this Article. Any Additional Bonds and the Trustee' s Certificate • Authentication to • endorsed thereon shall also is Article, with be in substantially the forms set forth in th such necessary or appropriate variations, omissions and insertions as are permitted or required by this Indenture or any Supplemental Indenture. The Bonds may have endorsed thereon such legends or text as may be necessary or appropriate nform to any applicable rules and regulations • any • co nmental authority or any custom, usage or 'requirement of gover law with respect thereto. V -23- Uf IAI*14�1 VE V,i'Z, K111 �'V.11201 #1 .j�L .ts'`y,}',�5�. 3��i~r�.s s�'�w +: .• i ,' .. � ., .. - r rr'S r } X ,9�117J t7{ t >�' its t. `` ,�* �' •tas n: r• t r. . t Section 402 . Form of Fully Registered Bonds . e yi`t'1 No. R- ., ;5 UNITED STATES OF AMERICA STATE OF MISSOURI ^r � COUNTY OF COLE ' CITY OF JEFFERSON, MISSOURI i, INDUSTRIAL REFUNDING REVENUE BOND •; fi SERIES 1992 (SCHOLASTIC INC. PROJECT) ` Interest Maturity Dated Rate Date Date CUSIP Wr „ v �x rtts_ Registered Owner: •tyS:f Principal Amount: Dollars , . x THE CITY OF JEFFERSON, MISSOURI , a municipal corporation duly organized and existing under the laws of the State of Missouri (the "Issuer" ) , for value received, promises ; -; to pay, but solely from the source hereinafter referred to, to the Registered Owner shown above or registered assigns, upon k: the presentation and surrender of this Bond, the Principal Amount shown above on the Maturity Date shown above, in any `t coin or currency of the United States of America which on the date of payment thereof is legal tender for the payment of p public and private debts, at the principal office of The Central Trust Bank, in Jefferson City, Missouri (the "Paying Y. Agent" and "Trustee" ) , and in like manner to pay to the t ' Registered Owner hereof, by check or draft mailed to the " Registered Owner at the address as it appears on the bond registration books of the Issuer kept by the Trustee under the within mentioned Indenture as of the fifteenth (15th) day of the month preceding each Interest Payment Date, interest on said Principal Amount from the date hereof or the most recent Interest Payment Date to which interest has been paid or duly provided for at the Interest Rate per annum shown above (computed on the basis of a 360-day year of twelve 30-day months) , semiannually on April 1 and October 1 of each year, commencing October 1, 1992 (the "Interest Payment Dates") , until the Principal Amount is paid, unless this Bond shall have been previously called for redemption and payment as hereinafter set forth. -24- J N Y f �� ieY 1 4 y-• ; L t' Y, 'G�� t},*,�4�y'F.e�s}rC tS�'1,.,'"F.r* 1^'' �'"✓$�� r�4 tT�� h�t?',o�' �4 . kg sxflt .q' t' }� rPyk 't s i�'+ k� kr• '. 2. a R$ '}°Y�r .' t�F ��1 ' ', "•``s r �{1•t ��4��'��+ ��fr��r"'�r 3z��' i�}r s� { �t•4 ¢•��''� rf '` s k v 't_ tr• y ,,�x'#v r37K? v i �t t�,e' y.�r rr u3 ly�{t�;�wC?'si�: t�. to a, f 1 r. r*'a'��n' �.' . . awx ,l�.§ �-��i 4•,'7 t��r'y' \. r{r kr `'•+, ;.`� {`r t +x t�f'k4, l t +n?�'7�'� ir�'R yg/. +S't "'1 dX 1� ,l l. 1,eY i '+, 9• rnxrf}4� Sl ,v�.h �s iL �,Y} r .ti +'4 rr4 c"1�t,'�. ;tXht S. c . •r � :J,r„i ,Y r )''^p` 'tj •t7:r;};f's u rg '{rd�j} t)`,3a c.�s�tSSb '"�A i. .fr•;s s;'n r", i xk �,, ,r'},}?'s .t".5 "`% : �„vV. `+f , F 5 ,ir' �amp td ' R P 71i tg{�k'b` /,t• .r S h r,.. �Jyf ��+f i} d+rr '�yr ?•,S,w C E V k¢ y[ r S S�e,.�'4 lip, 1 p..r � ; .i .! ''y.�tj i t "+;pi �i'+i?,R x :.k�{r� .�+,`'T+ ..:n' ' fr e t r'�,4?�?Ytti y' 3 'c i t.. j .; tti, `? r'ry i't} +'°•+�t r A. } ,,' ,s`C% -• ,j + R; rFt'a' • .r3 �j }, . yti r ^�.t7'$ a t.r .,tgl. i ,, i..y_ .t.cr.¢Y ,1{Ar;,;.:,t..r, ,,„*ya,,y;zs •rs k +: Y-kfi, v �4o-r:3' Y rt4 .� ,°y� i,r 'i"•°... •i. r t,t f ,d4� t�t h �t�F� ��3�•y t�� ' '. e r,l �'l7K p(�rt. 5 ,•i � IY ate: :", 5: k.... q ?,.., •.ry,,.•;.:r,«4«i'` 1.. !• 1 1 a.{.. 1tNt 1 r'p, P.71 �` cGy d a tIrA.7t x`•-ji q�s 9 wS°".f ..><.rw @` ii .-.,..r '§ �'"'4.� hl`�.. M ,•A 1.�;i'13'�•�.Ixni73� x � ��t�.:YF��Y:£.• k4{,�,t, {�:t4 U1..1:at,rr 4 t�nl.).a,.:b t .i..: �< ><$':. `£'ni ..'t,.Yyt". t{ gin; e Reference is hereby made to the further provisions of this Bond set forth on the reverse side hereof and such furtherL, provisions shall for all purposes have the same effect as if set forth on the face hereof . ! THIS BOND shall not be valid or become obligatory for F any purpose or be entitled to any security or benefit under the Indenture until the Certificate of Authentication hereon shall t, have been executed by the Trustee, a ' IT IS HEREBY CERTIFIED AND DECLARED that all acts, { conditions and things required to exist, happen and be performed precedent to and in the execution and delivery of the Indenture and the issuance of this Bond do exist, have happened •` and have been performed in due time, form and manner as p'+ ' required by law. IN, WITNESS WHEREOF, the City of Jefferson, Missouri , ' has caused this Bond to be executed in its name by the manual or facsimile signature of its Mayor and attested by the manual ' or facsimile signature of its City Clerk and its corporate seal ' . V., to be affixed hereto or imprinted hereon, and has caused this Bond to be dated as of February 1 1992 . zta t mss,, t CITY OF JEFFERSON, MISSOURI i' (Seal) By s ' t,. Mayor ATTEST: City Clerk i REVERSE OF BOND THIS BOND is one of a duly authorized series of Bonds of the Issuer designated "Industrial Refunding Revenue Bonds, Series 1992 (Scholastic Inc. Project) " , in the aggregate y: principal amount of $3 , 575, 000 (the "Series 1992 Bonds") , issued for the purpose of providing funds to pay the costs of t refunding and redeeming a prior series of industrial revenue bonds issued for the purpose of providing funds to pay the r costs of purchasing and constructing a project consisting of a :y processing and distribution center located in Jefferson City, Missouri, including real estate, buildings, improvements, fixtures, machinery and equipment (the "Project") , to be leased to Scholastic Inc. , a New York corporation (the "Company") , under the terms of a Lease Agreement dated as of February 1, 1992, between the Issuer and the Company (said Lease Agreement, -25- «� ..r�Yr.t'I•? {y, T,'t'ft tS't:x�ct r`�-a�£wt 1 t,1"i't c:+�'t T''�y2s.,e YJ}3 i1 rV i}tr�.•,x t�`"�U r E 3'r�7 r�rs�w�t'k<,fx?'t T.pit(�S'{.'i'f J t f 2{1 ia t � '. `J i *w}�C'71 7t[S'.�`S'ii eft Rnf t (�fr}i�;1Y`^ .ztak . •��'. ,� t��"f�ka�y+"'�,: � rEir7:i..a r r 1 .b,�.Ii st ��f...'4 y,1 �.+t' �a r.its,. i� "�"r-slt'^ai3a�`�!-,'t't�!%.�';»1;�:,;•V I�i'�4' t i tai r 5 T`.3{n� x t t �'r'#�' l 5. tl r{rtat' ��f1'.'� �rs��'>r s�$�P uti�yY4,�c°�k ai�,��y "�,„? r t *fit Y'.i7 +iyi,•1s''4'� �r.t�'>�H.t 1{�.� ,,, t�fy. � ;.} ; .. ,✓` _•,r r r ' f .�t. n.1SY�ts r ��o-y bat�`< •t � r, `i, �Y�{.' � �yk(liy i`�} •f�'`� 1�' fi 'S {Y vi' i d '.! r y Yv ? '? i f }}. 55tf� � _ 1 4f�Q��£.i ',y �N .t§`{j< �+r2' :;55.. sk�k F j{ ,;t:. �., f r.. ii.` {7... .t # ..j � f t yt iT tA`�X� ,t• �'. 5/'r 4 1'i"l"tr• ,n t}�a�� .1{!'l✓ } i Il. t. r { . 5..r. �.'. l Ifi Y 7� ti54�.��.#!'��7{y'ff 4. ., ti" '6#.. %,�. Y� n 'tNi � � S`.''•r'` t Y..�'�� 1 •171 t + 1 :'at r t, r .r'.. n r[i .r t k °5 � } 't. _� T�£ �riJ `a•./�� ay !ad F I c t.ti?tN;�'� b'>•"�`3r�}��'� tt4�i��_F tl�§r �'\Gj(sr s.,ifs i . + f;ft ;i r r��r p rff f f. h k v°�! t;r�i,S4?.'�}Ssr7,,.d"e�� . ':.i< t� nw�1 y � as .amended and supplemented from time to time in accordance t. with the provisions thereof, being herein called the Lease all pursuant to the authority of and in full compliance with the provisions, restrictions and limitations of the akYttZ`�5r,h:i'?:' Constitution and statutes of the State of Missouri , including z . : particularly Article VI , Section 27 of the Missouri4<. ; Constitution, as amended, and Sections 100. 010 to 100 . 200, ,::. . `-. ..; ' f inclusive, of the Missouri Revised Statutes , as amended and 5 pursuant to proceedings duly had by the governing body of the . s .;, Issuer. : ;' THE � SERIES 1.992 BONDS are issued under and are equally and ratably secured and entitled to the protection given by a Trust Indenture, dated as of February 1, 1992 (said Trust Indenture, as amended and supplemented from time to time in accordance with the provisions thereof, being herein called the "Indenture") , between the Issuer and the Trustee. Subject to s the terms and conditions set forth therein, the Indenture permits the Issuer to issue Additional Bonds (as defined w, ' therein) secured by the Indenture on a parity with the Series 1992 Bonds (the Series 1992 Bonds together with such Additional Bonds being herein referred to collectively as the "Bonds") . Reference is hereby made to the Indenture for a description of the provisions, among others, with respect to the nature and extent of the security for the Bonds, the rights, duties and obligations of the Issuer, the Trustee and the owners of the Bonds, and the terms upon which the Bonds are issued and secured. r,:fir��•';`r''', IN THE EVENT of a Determination of Taxability (as ` ` ^ hereinafter defined) with respect to any Series 1992 Bonds, all of the Series 1992 Bonds then Outstanding E g (as defined in the Indenture) shall be called for redemption and payment on a redemption date established by the Issuer date shall not be later than 120 days after 1Cthe reInternal4} �"` Revenue Service, the Company or the Trustee shall give notice to the Issuer of the Determination of Taxability) at the r principal amount thereof, plus accrued interest to the redemption date. "Determination of Taxability" means the final adoption of legislation or regulations or the issuance of a . ' statutory notice of deficiency by the Internal Revenue Service, tE_ ' or a ruling or technical advice memorandum by the National ' "` Office of the Internal Revenue Service, or a final decision of a court of competent jurisdiction which holds other than the final adoption of le (�n all ions, Yjs. P legislation or regulations, 1 specifically with respect to the Bonds) in effect that the interest payable on any Bond is not excludable from the gross income of a Bondowner for Federal income tax t of the failure of the Bonds to Purposes by reason g provided in Section 144 of the Code, or any other t reason mother than the fact that the Bond is held by a person "substantial user" of the Project or a "related person"who is a terms are defined in Section 147 of the Code; provided if such ruling or technical advice memorandum shall have been -'26- ;dM t?J ktt . Y'f<.- t,• S`",w !r� `;;'.��+ ,z e�. s�t' h� � : : r . .3'E r ',.-5! kks,, 4,�,'` t�t�4A S(�#.T.y'Lt �}s,v 'r�r d?:F'j+.LYrr'xYiffj ffE .tµ f t j,1 E .r v��r t ! tt• E f f ,s .:t' .ft,l TO t � 3 PNSs f tp'F,t x 5y¢'`�. `M�#' t'lttt t: �, '{ i ' f f � J ji�l 4'f•h ;Vi P F� iytrt�yck� ;;,it ,, Y •, „yf :*r t +..s •1 k, ; l-" .ft: t i• di; t .{. r aEY.iy?�t•g'..+ �'�i '� k'��• r'WIA:.ite' 14t t tE�• k ,, t}.,A.z t l .t{i`U g i x } '3r sw i{< x•a».r:eewa4,s»arariitamf4».k` �". z.'..�ir'�'Ps:vJ, `"&,tk��;1t�`3ic�3�:'rx� rax„'.S • �4° �� t�� i ;�{ k t� i fy.��7'i�.��"7`7vi��'"f Y'.t7�"»� it t}rFse �t•�$sz.'kF � y, !E`u:.r.,t'. .i 4i�4 .+f]. _ t .,.. .:"'�c� ..4..4. ...,, • . ,.., ..1,.. t: kz.i,.7!a .� requested by a Bondowner, the Company shall have been afforded ��,�, • j ` an opportunity to participate in the request for such ruling or technical advice, and provided further, however, that no such k5i Determination of Taxability shall be deemed to have occurred - ��?` -• (x) in the case of the final adoption of legislation or regulations, if the Company shall furnish the written opinionz`; r,; < `_ t of independent counsel that a reasonable basis exists for treating such adoption as not having the above described effect and (y) in all other cases noted above if the Company elects to s.` contest such notice, ruling or decision in good faith and proceeds with all applicable dispatch to prosecute such appeal ; 4` until the earlier of (a) receipt of a final determination from ' °U which no a ppeal may be taken with respect to such determination C , or (b) abandonment of such appeal by the Company, whichever '. ; shall first occur; and, provided further, that if the Bondowner k" refuses to permit the Company to contest such notice, ruling or decision at any time, then, in such event, the interest payablet`3''°}%'"s`;• • on any Bond held by such Bondowner shall not be deemed to be .,rty�,b;;w:•r<�m, taxable within the meaning of this paragraph. THE SERIES 1992 BONDS are subject to redemption and payment prior to maturity at the option of the Issuer, upon on any date at a redemption instructions from the Company, �;��:j�.-•�1. T price of 100% of the principal amount thereof, plus accrued r,;• interest thereon to the redemption date upon any of the following conditions or events, provided all of the Series 1992 r: f v ,>t 4 A14• =" Bonds and all Additional Bonds, if any, are redeemed and paid " . , ;`::'• x according to their terms. r (1) if title to, or the use for a limited period of, 3., substantially all of the Project be condemned by any authority having the power of eminent domain; (2) if title to substantially all of the Project is found to be deficient or nonexistent to the extent that the Project is untenantable or the c:: = efficient utilization of the Project by the Company is impaired; (3) if substantially all of the Project is damaged or �3 {, destroyed by fire or other casualty; or (4) if as a result of changes in the Constitution of the State of Missouri or of legislative or administrative action by the State of Missouri or k any political subdivision thereof, or by the United States, or by reason of any action instituted in any court, the Lease shall become void or unenforceable or impossible of jY performance without unreasonable delay, or in any other way by reason of such change of circumstances, unreasonable burdens or excessive liabilities are imposed on the Company or the Issuer. 4 -27- r �i b2^F,fi} ('.k�{S�. 4 1 ..1 • h �I {' h Gl. .. 4 �{• FgCyyy Cs"',S„=J`t�k F£ s � � r. r x { t(+ ?:S Jet,t7,..f";s, FtF� � z � i r'i SyF'�.�i�?'�� ,y.,ti•��SV aif, �5 t'1 E 7 {' ;�i{i r.1�'.•�i F.{yr.t�`�t,47<4 Ffa`Yfy;`'�J ' '' ( ER+. ,y,�.,�.�. o'�thrt 7 ik�LZ��'�Rf j ;t t.ir' ft 4 s t � +f f r` 4•t t{j it�r$R t Y ri;�z?diuzsS,ss;1 t��3yG3 x'rti,3{�,ti P DES sR �yz�•��.I •`t{,uJr. �,�+ .f� {fE- l `,. .:r :1 t r 7 .Es^P �t �s 4- f .a + '�ty tik +7'`i`t}'i crt .? t:5� .t rt f i ..z i .r, t. ..l r sl �4 rr� �rl•' { ` j' j�..s{• '` ti + G31ta \ t �.ii, � e .E . . , f.- t .r f.r.. `t.rr�tat"s ,, f4,; ��,_., (. "s�{ � `�. y�..t{v,,fyf�'}t;f�ri . r��4° .t.t i Ft ' 7' i .tl. .f f c} { (: .{'?°�i�` i .�,� i v'{.�tzA 4 6&t�rz{- '�s, �` E�c�•,YA.. 'lE! .,S f ft' 1 :h r• ("J t f F . (1 (f l {(. {C` j y f t S ?'t$� tf .i rh .. t f •1 t � 1 4?) t ;� +�S ,{��1��r�E. �r� ` { . tt y. t Ssf. cjl5 t }r��`u 7" q11 111 1� w'•!emsnr�.ertaa+rs�. 'a. z .�:,>� .ti{,. ` y' s / o. L.'<, ... +yi, �; {s 4 yr,'{ti5^` ��t:' , J }``.. i,�,�'.` ��i,.kr��:.,; �1:t' 4fiY �tx? ' THE SERIES 1992 BONDS maturing in the year 2001 and ,{ ;$r ;t j .,: thereafter are also subject to redemption and payment prior to -,£ Y maturity at the option of the Issuer, upon instructions from 111 `` the Company, on and after April 1, 2000, in whole at any time or in part on any interest Payment Date in inverse order oftizr7 t j maturity, at a redemption price of 100 , of the principal amount ! thereof, plus accrued interest thereon to the redemption date. <r..' W, Series 1992 Bonds to be redeemed and paid pursuant to the '{ t"t " provisions described above shall be redeemed in inverse orderA'eet<{, of maturity, Series 1992 Bonds of less than a full maturity toPt� f, be selected by the Trustee in such equitable manner as it may determine. IN THE EVENT any of the Bonds are called for redemption as aforesaid, notice thereof identifying the Bonds >r to be redeemed will be given by mailing a copy of the redemption notice at least 30 days �Ut P y prior to the redemption date to the Owner of each Bond to be redeemed at the address shown on the registration books maintained by the Trustee. Any notice of redemption shall state the date and place of redemption, the series, maturities and numbers of the Bonds or r, portions of fully registered Bonds to be redeemed (and in the case of the redemption of a portion of any fully registered Bond the principal amount thereof being redeemed) , the redemption price and that interest will cease to accrue from and after the redemption date. All Bonds so called for ,JY ;. : redemption will cease to bear interest on the specified redemption date and shall no longer be secured by the Indenture and shall not be deemed to be Outstanding g under the provisions of the Indenture. UT THE BONDS and the interest thereon are limited fir, F obligations of the Issuer payable solely out of the rents, { revenues and receipts derived by the Issuer from the Project, and are secured by a pledge and assignment of such rents, revenues and receipts, including all rentals and other amounts to be received by the Issuer under and pursuant to the Lease, , all as provided in the Indenture. The Bonds and the interest V thereon do not constitute a debt of the Issuer or the State of std Missouri, and neither the Issuer nor said State shall be liable thereon, and the Bonds shall not constitute an indebtedness G within the meaning of any constitutional or statutory debt *" Y limitation or restriction. Pursuant to the provisions of the Lease, rental payments sufficient for the prompt payment when due of the principal of, premium, if any, and interest on the Bonds are to be paid by the Company directly to the Trustee for the account of the Issuer and deposited in a special account 4A created by the Indenture and designated the "City of Jefferson, Missouri, Industrial Refunding Revenue Bond Fund--Scholastic Inc. Project" . The full and prompt payment of the principal of, premium, if any, and interest on the Bonds has been unconditionally guaranteed by Scholastic Corporation under the �. terms of a Guaranty Agreement dated as of February 1, 1992 . -28- ' J•• y ^ y ti Y � tf i! c r t i tia 3 ai ju ti . ; _" to ' ,,CCn. ..�Y J4HY}"N'33�j tt�"} {+`;f�F,f({It� } � kit i�� !r S � L t ,C '. 1, r. 1 t 'A, k`'�'i.•�"'S . } �� ;f� t} k't(} Z:Ss 7$ f� , x +.• t .` ✓J Y i' .at i r sj-x s} �K?,�'�c�'. .� §'. Y} � {«C; ��yyJ` �.�G� 4z! k4¢*719 x:ru+7,},. y{'i` 'ts1�'� t.�C4{i"�t�,�a�tra�( .:t , rX. {i't\.1 •s ,,t (4 {t fi >..H` 'r l r a'iY �..r.si `Lrt �.$t�?'t� Fk1� t'Fi x • S't ��x� � ` ,. rzS?f X- ,��h v e[;cfi � �`� r �,,�.. A ,t:. , .,y,.w.i.'r-+Ui4.f�'<'S ...��t.s fie: ;+:i_ ,. �!'...rHt,••1 q.,_:. StC3 f li,,...ts. bh.w �. �aa;vx ra:QiAoteirh4iawdlrhWlCi"3 �Y�t.. 7 ft v ".j ."fit `,�,.; ,s'�:-•: THE OWNER of this Bond shall have no right to enforce the provisions of the Indenture, the Lease or the Guaranty Y : Agreement or to institute action to enforce the convenants . therein, or to take any action with respect to any Event of . ° � Default thereunder or to institute, appear in or defend any "n .'x•04. suit or other proceedings with respect thereto, except as provided therein. In certain events , on the conditions , in theF . •t p . manner and with the effect set forth in the Indenture, the principal. of all the Bonds issued under the Indenture and then Outstanding may become or may be declared due and payable ' 1 before the stated maturity thereof, together with interesty �' accrued thereon. Modifications or alterations of this Bond or Yrcr. y Q��::'' the Indenture may be made only o the extent and under the �? � Y r•. rr��'� circumstances permitted by the. Indenture. THIS BOND is transferable, as p rovided in the Indenture, only upon the registration books of the Issuer kept for that purpose at the above mentioned office of the Trustee ` by the registered owner hereof in person or by his duly authorized attorney, upon surrender of this Bond together with a written instrument of transfer satisfactory to the Trustee duly executed by the registered owner or his duly authorized attorney, and thereupon a new Bond or Bonds and in the sameT# ' _?; aggregate principal amount, shall be issued to the transferee y5ar ,sur . in exchange therefor as provided in the Indenture, and upon > luiw , payment of the charges therein prescribed. The Issuer, the ,,r Trustee and an Paying Agent may deem and treat the Y Y 9 9 person in whose name this Bond is registered as the absolute owner hereof ; '" ' for the purpose of receiving payment of, or on account of, the principal or redemption price hereof and interest due hereon and for all other purposes . THE BONDS are issuable in the form of fully registered Bonds without coupons in the denominations of $5, 000 or any integral multiple thereof . In like manner, subject to such xz> conditions and upon the payment of such charges, the owner of any Bond or Bonds may surrender the same (together with a written instrument of transfer satisfactory to the Trustee duly x'71 executed by the registered owner or his duly authorized attorney) in exchange for an equal aggregate principal amount of Bonds of any other authorized denominations . ;4 .:t a{ -29- ,s >T `, -' 1� {�..��. t, f!t��:�^�»-�r.+�*giy'�'r9�'�F`,dt"•.�� '�? `w!r+M!wt. r . t;�. r.i; [S�,''i�.�.f• •d'tt, •'" !rt �e: x i" �� •, �• ?r .�1. h ° 1 ,i r 5' , ..i t i}, r b i+F }r�t, + •�` �"C�X.�9 # k #i �� x .S - k r c .t j' .A. . ,. A _ft t .k'S,Y',x.:t�.s aa:`i�xt } 4 , d✓.'{."" .H t �, r"a ' r++'+t } •"{r {. .t, t r r t. { ' i t S. 8 ?' r1 t 5 1!.3. v+ Y , t t 'G�.k{' '� a ;:F.}�< '>"�iTe ,s +•:c + 1 } t .t t . 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'+s. `� .'�" .�r`�+;i t �� r��, �.{ ^5�{{,, +r <'f.� :,'?.r•a '� Stft.{, r t t' yhi ..t�:+,y.,, i .��,"..� t:��';� ;t„� „+. ;i;�, �� 'ir�'x�i;Cb '.�a�';{rytt a�,a•...,`•�':••s•,r:. ,r. j .4] �.. .a,. ';fi,;,�S{ s^,?-\.. .s, nw ,i.i£ {'r i "Y: .w.Y F•,._ L:.t arF. }.}.t vr:} t-1 d},y. —4Ly":;r•:' ,qt,v'`.i�i!,u._ •F. '�S i•1 r . , • \.�. A[t..:) S'P,r d ,''Si F '7 +y id�� i` qY� �O' t b{,', .p: t j i f?�l,{ S' �ti. { I :t �;H SFr 3 ,� ',;' ��,an ;N s��.;��4;u� �� ,ls3. �� ' t, , 't�� •�• x,tYt' �,�•, f Y'.t... f tt: :r.t. ,i a �^'�,,'}}`)m,�;'n?')X.,„,3 �;r1:L.sy�t, .'t�Lr, o :Y " , .I•:��`�. '�??'r��5jj+�A I,4•.rf ter .N,..t' t:t'.'"!. t t 1v.• t iJ�Ft.tri t.�Y(i CN1S •✓'''7')> �•y.• k 3p � -+S '�� ,�43r1�V��+>� j� t � t t.t ; 1 Wit.. ..j 3 {,..��'. tit} 51,f't f 'YS��'pJ'i�.t`k•t t{�(�,�fz�,S f}+`{; !-tph 1R. } 1�' � t`f }Y,�"�D' �r�' �Y ym4�tf y;��d 31�. '({ p'41. + t Y.,.ir �N� Ml °�i'` u{?( .i a-y a{i rt`A... •�y',. + i�a�'�'+_�' �isfi sp t t i. � ,.�,,, s. .�� 'i4Yr�.' t ). i, { �;y •�i � txk.�,..{,'Sr S. { r +r ' ( `.!�4� ��2*: pi LEGAL OPINION I , the undersigned, City Clerk of the City of Jefferson, Missouri , hereby certify that the following is a true and correct copy of the complete final legal opinion of Gilmore & Bell, Kansas City, Missouri, Bond Counsel, on the within Bond and the series of which said Bond is a part, except that it omits the date of such opinion; that said legal opinion was manually executed and was dated and issued as of the date of delivery of and payment for such Bonds, and is on file with The Central Trust Bank, Jefferson City, Missouri , as Trustee. City Clerk City of Jefferson, Missouri GILMORE & BELL Plaza Steppes Building, Suite 400 700 West 47th Street Kansas City, Missouri 64112 If -31- Mon IV �1�i..T,,ir °rr,ti„')`y��''�rNi ''!•�� zrS"�t� "tr`a+�t�'P' � t r;•. 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Ytfr. :.+,r,'f,!?.�r, .7-u,ta.,s-t� t:k.?�!• #'7 }„r., t.y".t.y.,t•`dt K ,. f ..v 5 ita ' ,d't :J .Yl.,l.,p',:s••�E�`�!.�.y s��yy 5;;��Y"'L�,� } 'P�y'.!�•�a�� •ti>,.ft.,�,��r .�ryf+'•,-y�:`�. 1.,u,: S �5�,�v. 5 E; i - i j i. � .ill. V,Y �.� .t; G'?�^tt.{{t'�'6:1'•.{',+},RYvT xi,,Y� L:�Lt}'�, � tt 1`r «vf,. =f.;t 4)91`�t! 47)b'.1(. i,srxt• 'Sq q. r 7 I 1, ,U�,i;7'4.,. 1Y'+>t••.•:�ij1'{,,1,f14�.w�9:tys�"'f rJt ��,+31h,��t� }jd �'(g'Y� . lit ,.t..raj:j.t.•"tb°,�b �yjle.'�„r r t�,.'+.:+ 1 F ^r' i ,a,jWMGI y1�.., iro;'.'Six', j`v.:,s?7,2215,}' •+ Sri�l'"r":<t l,Ye�^"::�t.ir:. N•7, b. ; ,it. �,,.� ". ,}, �. � •.2t'rv2 �� •flic�� Y'"�l�yt'.'a✓f�'I+.aa}h�,r,i .Sr�•,y 't,. S`4;�+��;;t,�� ,..r •.�,� ei P t.�^4' t ,�..- :.S`�C iS;S�*')�.,I,!f tMC:;�+:.*.„rt;=', <Y 1 :r.q ld •,y,':� 4._�1'•)!�.�.. i '”"t' r"k>;1;;'✓,., 4 � F,;I_ } .t �y,. ..t.�, i+,:.`t :.�, r, +r,k.x it lt:;+e x,!�f�vJ:� LM,;g,�+' '� ','�+:�r yl 11Nt-4., { .I• .n,'<"' /?t;, t„y#'��' 4°P`",�4a h,r•r'';.r+jt'.;}.�;.;r.,,ly r c �r •,: �'�i ny ..}, ,t. S' y+, t '�7.3% i(�3d, y 4 i t .'�I>fi.:r< t �ctel.�..t�, r.['ii�F, .'rril, .4..+..rE. �;`t`•t �f�,t"N�k:e r .'Yt.b i f I{. ,t .� { i.� .sirs i.,; ,�;3};,,; �{,s} ,�: v c:�.. r<fs�; �1. ,�r. ,r,i �iiv.,o. �„},,;'�y.,C":y .,�r�, a.,P.1 t a t�}.:•j n. la k X271 r s .�C3.�,t.;�.:�;'sa, }°,�. #�f',r:;•ast ':1=r ;f;,t�+rt•�7` t`{� 'j .r �Sk�? ct, it.'r�'V r�,.rf i"r�3�:"•tr'Y�tSu }x att,X � `'S Z ,•fA t, .}'X . ', ?.+ :firq..tt ►, •11rj , . a k X.._t4 � 'tSsr4 Tn,?.lily t x ,., nr C[.;o.,?+�: `&r�ltir� 'i� 9.Q' ,�'� yair Ah�•y„t tS{��''!y'r..'{.lr �..g¢� ><. .•!'1, a ?il+e`, X�..r+}0� "1 t' s, c t..s ..a•e., .:ftr4r r ut{ a s,L , + ARTICLE V .f CUSTODY AND APPLICATION OF BOND PROCEEDS AND OTHER MONEYS : x. . Section 501. Creation_ of Re£undina Fund. There is hereby created and ordereci to be established in the custody of y ` the Trustee a special trust fund in the name of the Issuer to be designated the "City of Jefferson, Missouri, Refunding Fund -- Project"Scholastic Inc. Pro " j .. (herein called the "Refunding Fund") . Section 502 . D-eposi.ts into the Refungjn2 Fund. The kph s proceeds from the sale of the Series 1992 Bonds, excluding suchx; a amounts thereof required to be paid into the Bond Fund r to Section 602 hereof shall be pursuant Trustee into the Refunding Fund, as and when received. IP Section 503 . Application of . Moneys in the Refunding Fund. Moneys in the Refunding Fund shall be transferred to the trustee for the Series 1983 Bonds for deposit into the Bond ��r� ? Fund established under the Series 1983 Indenture with skrftrr '�' instructions for such moneys to be expended solely for the payment of the principal of premium, if any, and interest on `° " ' the Series 1983 Bonds April 1, upon the redemption thereof on A 1992 . p p p ARTICLE VI P { REVENUES AND FUNDS Section 601 . Creation of the Bond Fund. There is hereby created and ordered established in the custody of the Trustee a special trust fund in the name of the Issuer to be designated the "City of Jefferson, Missouri , Industrial Refunding Revenue Bond Fund -- Scholastic Inc. Project" (herein called the "Bond Fund") . Section 602 . Deposits into the Bond Fund. The Trustee shall deposit into the Bond Fund, as and when received, the following : (i) all accrued interest on the Bonds and premium, if any, paid by the purchasers of the Bonds; (ii) all Rental Payments payable by the Company to the Issuer specified in Section 5 . 1 of the Lease; (iii) any amount remaining in the Construction Fund to be transferred to the Bond Fund pursuant to Section 609 hereof upon completion of any Project Aft Additions or any reconstruction of the Project and any -33- y f � iaz �� yr��de.t•>L"�,°}�f�d��q:YF`y�,.Ft 7� l„r r t> ..�{ ? ,r:.�h 1 r'{ � } V t 4'i.{ P �`a4.�p U d�{}i'tr+r<•` .yrt��"{,�`� '% 'r a�, t• k2 7��}t'�rp.,� z�4Sktt in,. .rt �r�5��'h” x t J; 's s t ..J r t 7. t;..� c i F r '}��5�� X�,,� . � p�4�'Frt3t�ari,1'�.'� 7 c g�xR-�i.r5 r ter•' t d. �'vk 1 r ,{ a + �{yr '7 t',i.},!t�'tu•i- tb{ ��1.C�a. 11kst�'a. �+-x' 3, §f ` ; $' '�r`�' 3 �?'`� ! ft a`ir •31 'k 'U rt K �. .y a a r�Y�.�Ii�'y:�r+ .'J• {� j�"F�5Py` 'rS�a'�S'CYx!.t�: r� rff�7 y�, :sfH {..+& f `Y 'i: � {, .� 'f4 { I t �' k 1S'. * rs�,��.r�� rr!�'ie,x„krt y 3,VJ•+(rY ;� �yk')YS � •�� z,5'701 5�rt�'' 'tl .4a + � Dt' r i t :'.dr�r f.'n + Z .t r t }� fi t�N��.., ' Ile r r >t�t dt<.° {.: •r: ..'S .1 Ff t >.r i?; ` ter }$�C u .. .t z.. �.,... r� � 5,�, of. s r.'�' L s:;;+� fS�kT •r ,':r j fy�,:rt��i � :4titYA'#X�tf ' 3n , d s fr , tSx.t +n=,.'.z:. 'eTl �:.5 amount remaining in the Construction Fund to be 'w$ rt %. . transferred to the Bond Fund pursuant to Section 610 hereof upon acceleration of the maturity of the Bonds; ,"C' " (iv) the balance of any Net Proceeds (as defined }� in the Lease) of insurance or condemnation awards ed b the Trustee pursuant to Article VIII of ,4, �= received Y p �. the Lease; ti. (v) the amounts to be deposited in the Bond Fundy pursuant to Sections 7.2 and 8 . 1 of the Lease; C`I'Ygf (vi) all interest and other income derived from .° investments of Bond Fund moneys as provided in Sectionh ; 702 hereof; andw`tt (vii) all other moneys received by the Trustee ' " under and pursuant to any of the provisions o£ the r° F ',_ g Lease when accompanied by directions from the persontM r�z depositing such moneys that such moneys are to be paid into the Bond Fund. - q, a S��aif�ytkYy'j, 603 Section Application of Moneys in the Bond Fund. (a) Except as provided in (d) of this paragraph �. : .� ��•-��. Section and in Section 908 hereof, moneys in the Bond Fund ; , shall be expended solely for the payment of the principal of, r .. premium, if any, and interest on the Bonds as the same mature and become due or upon the redemption thereof or purchase for cancellation prior to maturity. ' (b) The Issuer hereby authorizes and directs the Trustee to withdraw sufficient funds from the Bond Fund to pay the principal of, premium, if any, and interest on the Bonds as the same become due and payable and to make said funds so withdrawn available to the Paying Agents for the purpose of , paying said principal of, premium, if any, and interest on the Bonds. (c) Whenever the amount in the Bond Fund from any source whatsoever is sufficient to redeem all of the Bonds Outstanding and to pay interest to accrue thereon prior to such redemption, the Issuer covenants and agrees, upon the written direction of the Company, to take and cause to be taken the necessary steps to redeem all such Bonds on the next succeeding redemption date for which the required redemption notice may be given or on such later redemption date as may be specified by the Company. The Trustee, upon written direction of the Company, may use any moneys in the Bond Fund to redeem a part of the Bonds Outstanding in accordance with and to the extent permitted by Article III hereof so long as the Company is not in default with respect to any payments under the Lease and to the extent said moneys are in excess of the amount required for payment of Bonds theretofore matured or called for redemption -34- .•. ,xit .," riA .jw,t;� 'i, :tarv,,°r;y,i '�.t`,�r ry a ti g jy.r(u�'y� r k 1C' 1 €7 Yf rSl t r ySs? � t '%g t+v j � tfo21!{A;f i' r arm,: 2iVf(# 's C �fJ M;,'!y •>t.Lx t{n'�P ��lY' ��t�rl� it r..ti�`,�tiP r � r I k t r�f,��Y�:'��if{., � :l` r`-<= + i et.i�E�tl'tiry;w.r i,;4mi'.:!1�i,+`°ui.'Sy��i-a�Trti',;'<'i i 4.� •�:� ..:4e3ti;f,>n;" a��;,M{��.�'S��;:as�pIl r:t,�r it:�,is sf. ,?c yY h, - rir f ,. ` .r� r r,. N� .Yh �+`j t{ v"h. .�,:e+ Y,,.}.1,r ;1i. f S.f.. .t Sf n t f 9 f .,St 7t l.71 It ' }51• t.,. t ., r 'a y �` a tr x 4b ' *t3 3 (t ✓3 r Y 1w? :1 J ii tir t }}''. � ,. 2t.. _^�.'.�,v. ; i.¢/ �ti �' �x ...."nilY�t,*4 ..s r vs t. is li•>n• 1'' .,1 and past due interest in all cases when such Bonds have not been presented for payment . The Company may cause such excessavN. money in the Band Fund or such part thereof or other moneys of " the Company, as the Company may direct, to be applied by the Trustee for the purchase of Bonds in the open market for the :.•, . purpose of cancellation at prices not exceeding g the principal amount thereof plus accrued interest thereon to the date of delivery for cancellation. (d) After payment in full of the principal of, 7! premium, if any, and interest on the Bonds (or provision has been made for the payment thereof as provided in this +T � Indenture) , and the fees, charges and expenses of the Trustee gr and any Paying Agents and any other amounts required to betb . q paid ''n,3ra t ' under this Indenture and the Lease, all amounts remaining in the Bond Fund shall be paid to the Company. fr ` ' Section 604 . Payments Due on zant't°rev ., Saturdays Sundays and Holidays . In an Y � � y Y y case where the date of maturity of principal s, of , premium, if any, or interest on the Bonds or p for redemption of any Bonds shall be a Saturday, the date fixed ?e4,c'•. •'...7 a Sunday or a legal holiday or a day on which banking institutions in the ' ° - y of payment are authorized by law to close, then payment of ' �"'�° s�"�• principal of, premium, if any, or interest on the Bonds need ,•'�"} not be made on such date but may be made on the next succeeding business day not a Saturday, a Sunday or a legal holiday or a day upon which banking institutions are authorized by law to :<. close with the same force and effect as if made on the date of t' maturity or the date fixed for redemption, and no interest shall accrue for the period after such date. Section 605. Nonpresentment of Bonds . In the event that any Bond shall not be presented for payment when the : principal thereof becomes due, either at maturity or otherwise, or at the date fixed for redemption thereof, if funds sufficient to pay such Bond shall have been made available to the Trustee, all liability of the Issuer to the owner thereof for the payment of such Bond shall forthwith cease, determine and be completely discharged, and thereupon it shall be the , duty of the Trustee to hold such fund or funds, without liability for interest thereon, for the benefit of the owner of such Bond, who shall thereafter be restricted exclusively to such fund or funds for any claim of whatever nature on his part P under this Indenture or on, or with respect to, said Bond. I€ any Bond shall not be presented for payment within five years following the date when such Bond becomes due, whether by maturity or otherwise, the Trustee upon the request of the Company shall repay to the Company the funds theretofore held by it for payment of such .Bond, and such Bond shall, subject to the defense of any applicable statute of limitation, thereafter be an unsecured obligation of the Company, and the owner thereof shall be entitled to look only to the Company for am ..i -35- poll Ol v" '��u{?�'�` { ''�'�x-Q3''. i?�� tt!r'n t~,t•Z�"yxt ,,, r ;`f�t 57!`$r ;� �"w t 'r 7t.,+��,1.t`?ii�cfi.t fZ +S�f1'r 9 ixlrF3}r 123,r fJ ors �� t .{ %M;%� SSYi,�ytyJfY .. ,S=, �{ 'r�. a rFi?�?y1,y;�",.;. ..k..,�'. ,{ 3,tyt: .fJ;•, Stt ) .rhr�� r,;.r. $ -a .'qir v.4 t^2 '11•It y#, .'1..}'�F ,a}.y `�'. V,,rd{,�r'7' `} ;�y)y?, IY �'4�1..L/r 1:,;Ybfn }' 1'S.'t. t .t s ! 5J r`3r r.} �t;1 tr by y... ';iSr�E�x.:�'.cM�{�t„•�,L.[, `c/,1, R..' 1`2r��:t)17;r tilia sfi�y{4'}t” .I! t.: :'e. 't.b: 4 .'� r ..i .4i k •11 1 t .ln f f tt. .,lF 1 ;1 �i7 N J 7 r^s f1a�`t4 ;2` � T%(3 'v(j th i t `i f,%�.:,=5}�,�. r,�; -t r }:: � t'.,;3 ::t7 , }, t.t sr IM.,} �i5��,: 'f t �,�1.,;t(.>„.•Iqh' :+.`'"'�'.� �v IRV to 1 t�yi`��+^.--.....^i� + r,,."'f...*Ie+'...^"^'^^ —.y,�,.,^..•^ •,�� .,t. ."'`""_' .._•".---`.T�" .. .:'� F.��'��k 7��'kty 7 '�w.:a.�rY'�i�`ix..,4;.'u77'�y Jf2i`e.Ys.'G;'� in1F8YV � �+ �A a>• ,...r ;7< . Mi.'s u a ��n��4,t ..a payment, and then only to the extent of the amount so repaid,: and the Company shall not be liable for any interest thereon , and shall not be regarded as a trustee of such money. � Ak ' 0 j y Section 606 . Creation of Construction Fund. There is F ^ . hereby created and ordered to be established in the custody of 4 the Trustee a special trust fund in the name of the Issuer to be designated the "City of Jefferson, Missouri , Construction Fund -- Scholastic Inc. Project" (herein called the "Construc- tion Fund") . �t •i yi > Section 607. Deposits into the Construction Fund. The following funds shall be paid over to and deposited by the 4i:r Trustee into the Construction Fund, as and when received: .a 4 (i) The investment earnings accrued on the t � amounts deposited in the Construction Fund and required to be deposited into the Construction Fund3 i pursuant to Section 702 hereof . (ii) The proceeds from the sale of Additional �yp° Bonds (except Additional Bonds issued to refund ;. Outstanding Bonds) , excluding such amounts thereof r required to be paid into the Bond Fund pursuant to Section 602 hereof . (iii) The Net Proceeds of casualty insurance, title insurance or condemnation awards required to be deposited into the Construction Fund pursuant to the r Lease. (iv) All performance and labor and material payment bond payments and any and all payments from any contractors or other suppliers by way of breach of contract, refunds or adjustments required to be deposited into the Construction Fund pursuant to the .: Lease. (v) Except as otherwise provided herein or in e the Lease, any other moneys received by or to be paid to the Trustee from any other source for the purchase and construction of the Project, when accompanied by directions by the Company that such moneys are to be deposited into the Construction Fund. Section 608. Disbursements from the Construction Fund. (a) The moneys in the Construction Fund shall be disbursed by the Trustee for the payment of Project Costs upon receipt of requisition certificates signed by the Authorized Company Representative in accordance with the provisions of Article IV of the Lease, and the Trustee hereby covenants and agrees to disburse such moneys in accordance with such provisions . In paying any requisition under this Section, the -36- a 1'..�"w#�`�f r'i�;t t fy .l %t i .{s i k;L Y � t.ti `yy f �iF�taY:e+wc';�'4FrY y�%t1• 'atn :,.0 {+r,-.t. a ,�. f � .�f, 7yat}X� � �`Fi � �i r FS� Y t 1{.Y tk cit 4�• 'i�T1 `� ��y�N a�'.q�p5�,�� `�� V N 4 � -.�,�. `�� „� ��t�t�'�Kn., �� }�f.��r f �K�3 �fu�� 'v�at5�`Yr�� ,'�',�•� P ti't�� W�I .1!.1fl1,,�`f .7'��L� ��' yitl s.l3':•1T-�1 f c'i�'d})Ytrl�t n'f4q'�t *q, S; 0 5l� ..i. r wr rr.,� r' �� 1 xa 17t�bd5 ai tj'yf� w f 4at'F 4 4tizp ti•� v + H'�� 1�`��i'i ;g},�i` h�d. lr Ffit � C � k1it�' i4 f,t✓�>F�Cf � +,t. ,7r`} y � t5� .s' : i ftst G'et �ltf{,5�e*•t ,�.5;� 5� ;r.t��#tlts2<'�'1 f ad q ,fitti"i t ct ��,N�a sa��, p'�. a r. y 'S~� t': 3r$'S f �,y� ;�{?k r #,•.rs t.�'u � f cal�r a �r�C9`.;•^��.'�N�ti>`:t'if:'l: ji w. t i". aSa�a,�+•:�rs��f. � d y �,�.. �i dd#,rJ4'f i s y��#v,�w1 ti t� �i'ii. k�;�' t;4r }�fRyw.'..,x�,vay m( �}1.} ��(�`� # s+ 3 �:sa'�. e�, ,_+ 3s} . t'rs•.iY' is�� r r Yki ry ,j t ?1`R> } 5, }�'�:�r r�is }tF } t Y `�t`��.4 d 1f tYC, � ad f. ,r '"�"''t'.,,�`� >g'sra f ! it"d �• t y k {'t /t>:l t� .��. t1 +k Ti'� h,y. {Nr t .�.��'4' +521�,,,)r x�, 'l.�itiit#ir� Vii., {' y '{ '44 Yd1 4sLt ! k + •,,1,a1 1 :NJ I r, >N.`3 .?t: k` G +f a L '� Z,' '9s'F M}ia�;,x.,,. I 1*t .+"''`t+ ` 1. .t t • _ � ;:k.d' "`5��, y. r�. Y. k d. l t f �+ » 7 ..s•Y1 .:t L j�' � �-• i rv4+?y:F ii ya er Lkt .)•��t:�%g tNg `�, �+..'Y ,�SL!='� j :.S{•t>•js ?f�,'. S t 9 ¢ f k2t�`A"�' �1 fl'? Lit}{ yi¢ct�fS.b r��'s�4r`�`^f�jE-+, i.J rr t+�',-t '3• � .s$•�+.n1+ t n S 2• .J 5 �i �. � atF. �,�, rr�z�`�D ,f. i ... � §+' p j4`' "' }°5:(tit'�F'U_.! -'V '3 J E .l kf "�.,]? } 7w,lf i�d i.,t.;z r'...:,�'A,`�{5j•:�k �`•'S- ,++ �w+..t+tt•.:�� K`}t..i.a ,f-+.,, . .. . . <.•t r�:.: qtr n r. i 's�'.. MR= I UNION S Trustee may rely as to the completeness and accuracy of all statements in such requisition certificate if such requisition certificate is signed and submitted in accordance with the = x requirements of Section 4 . 3 of the Lease. if the Issuer so requests, a copy of each requisition submitted to the Trustee5�� .} +::sy4 iJ _*3i'CFj: for payment under this Section shall be promptly provided byrzK the Trustee to the Issuer. .t t Y. tt (b) if required, the Issuer covenants and agrees to u4 take promptly all necessary and appropriate action in approving . and ordering all such disbursements . The Trustee is hereby authorized and directed to make such disbursements in the manner and as provided for by the aforesaid provisions of the Lease. 1, (c) The Trustee shall keep and maintain adequate records pertaining to the Construction Fund and all disbursements therefrom, and after the Project has been ' completed and a certificate of payment of all costs filed as P provided in Section 504 hereof, the Trustee shall file a f receipts and disbursements with respect statement o thereto with the Issuer and the Company. '`' °' -�.}.144 >Ir l..rixr=•ix Section 609. Disposition upon Completion of Any •,} ?. 4., °f;' ° H;•.,• Project Additions or Reconstruction of the Project. The `;_; `; completion of any Project Additions or any reconstruction of hY 's4 the Project and payment of all costs and expenses incident }•� , gw; thereto shall be evidenced by the filing with the Trustee by the Authorized Company Representative and the Project Manager of the certificate required by Section 4 .4 of the Lease. As :• soon thereafter as practicable, any balance remaining in the Construction Fund (other than amounts retained by the Trustee # referred to in said certificate) shall without further ` authorization be deposited in the Bond Fund and applied by the r,+ Trustee as directed by the Company solely to : (i) the payment ` of principal and premium, if any, of the Bonds through the payment or redemption thereof at the earliest date permissible F under the terms of this Indenture, or (ii) at the option of the Company, to the purchase of Bonds at such earlier date or dates ' as the Company may elect . Any Bonds redeemed or purchased v.. under this provision shall be cancelled by the Trustee. The balance remaining in the Construction Fund and transferred to the Bond Fund (other than amounts required to be transferred to x,; r the Rebate Fund) in accordance with this provision shall not be invested at a yield which exceeds the yield on the Bonds. Any � earnings on such investments may be applied to pay the principal of, premium, if any, or interest on the Bonds. From ? time to time as the proper disposition of the amounts retained t by the Trustee referred to in said certificate shall be ;! determined, to the extent that such amounts are not paid out by the Trustee pursuant to Section 503 hereof, the Company shall so notify the Trustee and the Issuer by one or more -37- r 8 9=n v T. f '�,• ¢ ir��L:.n qq a11 '9�d �.)'n '3{C v�7�it�,''t4is7� �C7`� �utttt{yi e'S}}r.ll r`.it tt,�.,, .+r� .»K Lr� =,1 r! .hr~'S'�,R .Sj.? t{I � I�i*•h��•�;¢y�'�")�f. ::�. s�� ; "}f 4i„�' �'t r� i,r{ a 1 Sr i Y c c t6R ti.•r .c fir# tt` t i.t. r { '�'�iCt.,S+� �(t "i¢{ ... •� :� ��,rt. .�� ta�, tirt ..tr h:.,�."t 4� 1!.r r {._ 3 { ) � f•_ ,L ¢,. 5 c f �!>'f I�$ �terTt v �: °+T$+: �' •t �avv'' �i -3±r�7�"r�g s t t� �f� 1 j, = rJ r . d f. (. I .:', .f (. t-+i r} tfififi t fff � �� l� is ' h47, '.r+, + .i r i�. f''•YJ j�r ht�t '� Y3yrc }�' tf' �I:.1 r d , ¢ :{t i, `Yf A .. 1 I _! '�• ' ' rr? n4't'+" . t. x t«• + .iVl3' ,s rt3r 3.t 'r e tl., L+ 4�H s1'r tf 1•.m :. +r r r !s4nxa ll:5irevrrriRdlt '> `tVE.xh .�' � 3 ST'.'`$i'°. �t,..'tir.iS'F41 «,Swttif`8v,r.. 1 }..y, r fy i s�E'!,,. 1:?,ttaV r • ti 1yf c`' �k.n!!°. q •? },.� ..:J.tnE• a •rt Y"tist:: W. 4 k YS certificates as aforesaid and amounts from time to time no "�4h longer to be so retained by the Trustee shall be so deposited in the Bond Fund and applied by the Trustee a's aforesaid. ` .," Section 610 . Disposition upon Acceleration. If the _�<,•';.� principal of the Bonds shall have become due and payable pursuant to Section 902 of this Indenture, upon the date of f payment by the Trustee of any moneys due as hereinafter in Article IX provided, any balance remaining in the Construction Fund shall (other than amounts required to be transferred to the Rebate Fund) without further authorization be deposited inx ± the Bond Fund by the Trustee with advice to the Issuer and to r ,F the Company of such action. Section 611. Creation of Rebate Fund. There is } . hereby created and ordered to be established in the custody = the Trustee a special trust fund in the name of the Issuer to '± be designated the "City of Jefferson, ,. g Y Missouri , Rebate Fund Project"Scholastic Inc. Pro rl,y ; s a, ] (herein called the Rebate Fund") . -•>}; c4kr•? It Section 612 . Deposits into and Application of MoneysG3 ` in the Rebate Fund. u , (a) There shall be deposited in the Rebate Fund such amounts as are required to be deposited therein pursuant to the Letter of Instructions . p payment provisions Subject to the provided in subsection (b) below, all amounts on deposit at any time in the Rebate Fund shall be held by the Trustee in trust, to the extent required to ' � '� Y ; rebatable arbitrage to the United State of America, and neither : "T ? the Company, the Issuer nor the Owner of any Bonds shall have ; any rights in or claim to such money. All amounts held in the Rebate Fund shall be governed by this Section and by the Letter . ,c .> of Instructions (which is incorporated herein by reference) . 7 (b) Pursuant to the Letter of Instructions, the Issuer shall remit all rebate installments and a final rebate a �:. p yment } to the United States . The Trustee shall have no obligation to pay any amounts required to be rebated pursuant to this Section and the Letter of Instructions other than f , r , from moneys held in th the Funds and Accounts created under: this Indenture or from -, ' other moneys provided to it by the Company, Any moneys remaining in the Rebate Fund after redemption and payment of all of the Bonds and a p yment and satisfaction of any rebatable arbitrage shall be withdrawn and paid to the Company. ,S (c) Notwithstanding any other provision of this i Indenture, including n 9 particular Section 1302 hereof, the obligation to pay all rebatable arbitrage to the United States s; and to comply with all other requirements of this Section and the Letter of Instructions shall survive the defeasance or " payment in full of the Bonds . -38- u 7-t, lip �y....I � J ti4�}st y`'3r1 it��hiti t+f s�Y J Sxit�E�<� r � y t'rt 't{ � S . � + 1 r,i�• . ',.k . {tsyyf',.,r�{ f5.};;`.j� ,As•, Sa;{ x ?l a "� '�{.r:{iii ,,y fits! ;'r ,,,, V r tx. Syht r i, t S. V rti• zt 1.h.,xk',.5 vi 'lit Tr t➢r . i.<. au3ty'+ �, n?`Y,Y -f , ',,'t..!�r.:6{"�,«+.;7• a..kl i +iC tt Y `� t 1 YY •?1 x x h rr �.y( "K1T P t t i iSr } ... W it ,'. s RF +t ``ff '�"' •' a'i s y'', e s H1. itv1; `i .fi' s�j•�4,ja ,lt {fir�,F; .yi.«r #^'?5: :'� tE+ 4. t y.' t Yy y,f ..p A..l syq Y+ vft. , ,,•i 4xi;. V {,. hlt �l '�'{1 r r y., s s. i r .'� ` t, '', .F{,. }'Z, e ,.,sy I p« r {1� .b} i r � .i:, r�, .b t',t a:x'i: Y.z;,.t ,� z �. ,; i i4 t i / "Asp. `` t=,' .S �,?'� .r�`st•,r � 7 p i ' ..,, , }r•' '� � � ��,S .ft+"' :d e i. '''` ` ' y�t >x'S?'r r ,r• k 1 ,;tF�a �$tiY�i;.�� Y�.i1 7t, . Wl VX 1� f •i ;i'.Y n ,} i{. $�'ri .k; «� .y .4 .< l� -{ N L ` �T.W.r .��,:,� .`�' • } 1,Y 'r� .fi ! i`i} th`li r 44. at C . , S�i>f' trfr�tyka-t'1''�ai�`�5.3.� �2";'�-'rk�r�� s�y v e`f F?!"��v,� " �' "ism'• S. , 5."`d��. �F �r;; �y '�c`�'M�'��; FS�}` {�'kY`• r,i t � ARTICLE VII w ,r7m "N Kul z SECURITY FOR DEPOSITS AND INVESTMENT OF FUNDS ' >• y� Section 701 . Moneys to Be Held in Trust . All moneys you deposited with or paid to the Trustee for account of the Bond Fund or the Construction Fund (except the Rebate Fund) under any provision of this Indenture and all deposited with r moneys depos i t or paid to an Paying Agent ' -. Y Y 9 9 (except rebatable arbitrage) under any provision of this Indenture, shall be held by the Trustee 2 . �... or Paying Agent in trust and shall be applied only in accordance with the h provisions of this Indenture and the Lease t4A. y.rtr a and, until used or applied as so ; 5., '.,. pp provided, shall constitute part of the Trust Estate and be subject to the lien hereof . :a Neither the Trustee nor any Paying Agent shall be under any4fr '; .1kN liability for interest on any moneys received hereunder except interest earned on investments made pursuant to Section 702 ofr7, � 5 this Indenture and such other interest as may be agreed upon. t u` 'tiirt%j.t a Section 702 . Investment of Moneys in Construction r Fund, Rebate Fund and Bond Fund. Moneys held in the Construction Fund, Rebate Fund and the Bond Fund shall, pursuant to direction of the Company given by the Authorized Company Representative, be separately invested and reinvested _ by the Trustee in such Investment Securities and in such amounts that the Company may specify, which Investment .^'?i"}?ti `, Securities mature or are subject to redemption by the owner f. ttt:r�rti>` prior to the date such funds will be needed; provided, however, ' <' that such moneys shall not be invested in such manner as will violate the provisions of Section 703 hereof . Any such .w't Investment Securities shall be held by or under the control ofd'° the Trustee and shall be deemed at all times a part of the fund in which such moneys are originally held, and the interest accruing thereon and any profit realized from such Investment Securities shall be credited to such fund, and any loss � r} ,.. resulting from such Investment Securities shall be charged to 2 : t. . such fund. The Trustee shall sell and reduce to cash a ; 4. . sufficient amount of such Investment Securities whenever the cash balance in such fund is insufficient for the purposes of such fund. In determining the balance in any fund or account, investments in such fund or account shall be valued at the 4 lower of their original cost or their fair market value as of the most recent Payment Date. The Trustee may make any and all _ investments permitted by the provisions of this Section through 4k; its own bond department or short-term investment department . Section 703 . Manner of Investment. All investments made pursuant to this Article shall be made in accordance with r` the Letter of Instructions. F Section 704 . Record Keeping . The Trustee shall a; maintain records designed to show compliance with the provisions of this Article and with the provisions of Article Yy -39- 4 r -y .c+`r, ;t�l x'iT'•r"']` s IS r?:5 4 �.". "Sr". M r-..,mss,,,,,,,.,s . F CZ ', {A tljs� i `.f�ri'}l+ i2` �ij"4.C[ �J' 4s; l �_ Vii, t .'t y i�. {� ' im,t{ ;•s S} .. t I 7 Y r. u 't x•{ r 'r S tt {{ b r'x '1 ;� ,�x�,tiaH°.2`�S'•tli`�`r.�R` "`•1:;` � 4tt ' ..eii/'etrl} (1 t i : >i r . s;t � s 9k 1 'S{l �^;'S� (w��.^..Sn tit, '`�(Y;��`'�i G� r t A+"'7 tf r .r ;�<Y ^t. '�',�4�is`:$• (-5r #di h 3ir tay? r'J� }+]j} <ww' t .l '. ,,,"` ,4 F'�ILr j }'t� t.i{r.}tt' i,tst f� 1 i ✓f T r r •( t r }..,t i+ ; '.i .1 r . r, y 7+r y} r1 S _' .(r [ �''.S 5 F � a tS �•.� w y '.. }' r r� .ri .7 )# �!Y`�Y ��j`"yA Fq' t�:' � � y a + r,+ = it r .yF t .4+v�'F� '+ 1 •`iii' {. sr, �L�,r,.''#"' yt'll�r(d71 r r x•�•s..r r {' Y� t }.l " t, 4$3e�v'yrt�'4}t� � � S,�" +` .t �i t�' ` 9,�.,}M J.CY i }, i,.Fyr h, �rlY,+ .�.Zr �' t •e , L :F ..;( ;., i i.1 5 t,t'ors 33��! *=5 1, +�f'�'r' •{ �'X �•r 'f}s'4 t 31� !•1 3 r :i S.'r 'i. t`fi. ;..i t ..,�r}s}'* :(:. .;�rr,, .rsr xJ7„ '' "Y' ..0^' it{yt i 1.ff. lY "}C t` y, (S':. 'I• _ } 2. 1 1 7. 1 !,, i �t 71^ rF,r t }1, :.i<., r .. h-!1 ✓r� i. i �ri:.ra 1 ',� l t't'tr.+�✓t,'1-£ A'�'^3v`°. i 1 � Y •r f a s • L. ¢+ 4 z �i e tt� xi�'' •`�'q �- pg1�.},4�, z. f gyp;' s way t ��rFk}F#>:�;%.•x �lr�' ris. , id..�.,:,.. VI for at least six years after the payment of all of the Outstanding Bonds . e` Section 705 . Arbitrage and General Tax Covenant . The E Issuer covenants and agrees that it will cause the proceeds of }` the Bonds to be applied as soon as practicable and with all reasonable dispatch for the purposes for which the Bonds are ;• issued, and the Issuer and the Trustee covenant and agree that no part of the proceeds of the Bonds shall be invested in any k+a. securities or obligations nor used at any time, directly or 'a indirectly, in a manner which would cause any of the Bonds to be or become "arbitrage bonds" within the meaning of Section ` 148 of the Code or would violate the provisions of the Code and fr the regulations of the Treasury Department thereunder proposed 0.0 F' F ' or in effect at the time of such use and applicable to obligations issued on the date of issuance of the Bonds. ; ¢ „ The. Trustee shall maintain all records of investments, '142 y" at least ever a.,.. . -' y year make appropriate determinations of yields on investments and remit all required amounts to the United States at least every five years and upon retirement of the i:��.yk�?.n'� :{•'.. Bonds, all as set forth and required by Section 148(f) of the Internal Revenue Code and Section 1. 103-15AT of the Internal �r Revenue Service Regulations. r °S ARTICLE VIII ' GENERAL COVENANTS AND PROVISIONS } Section 801 . Payment of Principal, Premium, if any, and Interest . The Issuer covenants and agrees that it will t deposit or cause to be deposited in the Bond Fund, but solely `4 from the rents, revenues and receipts derived from the Project as described herein, sums sufficient to meet and pay the ; principal of, premium, if any, and interest on the Bonds as the same become due and payable at the place, on the dates and in y' the manner provided herein and in the Bonds according to the true intent and meaning thereof, and to this end the Issuer covenants and agrees that it will use its best efforts to cause 4 the Project to be continuously and sufficiently leased as a revenue and income producing undertaking, and that, should there be a default under the Lease with the result that the right of possession of the Project is returned to the Issuer, <` the Issuer shall fully cooperate with the Trustee and with the y Bondowners to the end of fully protecting the rights and +° security of the Bondowners and shall diligently proceed in good ' faith and use its best efforts to secure another tenant for the Project to the end that at all times sufficient rents, revenues and receipts will be derived from the Project promptly to meet and pay the principal of, premium, if any, and interest on the `> Bonds as the same become due and payable. Nothing herein shall Aft be construed as requiring the Issuer to operate the Project as -40- Y: 1 . r j s t ) 1 i ?-��e �5. �Er� � �*Jy i tt t si J '•^i .w ?: k ' 7F is i .'t � s t s #�,�'`�' #t 2 �},5��1u �C.,�z � i 4 {•u'{�-rV��'��+\i W 4{rG 4'l/-jyK fP yt 4 JI J {)�� r P '(ra �+,f:� ;Y{} �'j tilt , x � t ,��ja� � � ( 1 i� , VIE II .� >z s ".,,...'�-'. [;�d, ys'r t•4 6telr!r«i>rt1?:.c•r �'ti'h +:, a°r:xs:,u>.rr�.or�:'<,,.rt'3,u,;y. 'a' t;..•fvf ,l'�"h E'•;2 �,''7,,1t+,pg `{ rs. '? ,ni+,. ..s .,k .. p'ts'> ,y,-c�.yf.?•t ..}yfdK'�'3 r?e t•s'S-?,t , '-ri 1'vsf',,,;a5:'p:x; kir tfi}g•. :c;;�y K,Sre,.7�A:�Mj' gt,,.r,7;,xs`• x ' {, wb'rxr r J r' :!„��`y�,?.��',r;Y '4` i a5•r`�t 4 `r ,tif#'a''3, �.,'3r f� �r't+`�� rLi�',.s,,y r�;:-ar3t,Y, 1, �,. {C�'}�,�.',':•>tin�±� �i: � + i '."y t h, '�{•,,. S'i;. `�,% ,t ` ;!� •. fa�"��,r , d.lk3A'fF 1'.,{tr' t 5 .2 x.t'}.T j.t�.�,wl,i 'h r ':{j yY fk S'�,t'i t >. t4 • , r r ..F r.. F jti } .� ,. sT `r, a 1 U tf sj, 7 tr it f 5 -1", „y t"�.F�+1 .� P . r �.fi �" � ,,{,� k.s k "j7 ��i Y�qS_,.,. ,e..' � v {r� �a�'`Q h 't;t ( rt�..Ua f F•i r ,;�'�.'w t' . t � � �'ti" y 5 L`� Il•hp ! • : - .. ,w Y)� �ja .F• ��4 1 p7t Ttl. .1;4 Mail III il MO .y ,, ] xf i='Y t.• .S`. 't'.�ti9/. i .f-`t s t":t``�''.n:L%.�.� `f5,: �,`��; ^:s: �,::'�...`F:rS f•';m?�tY 1 +; '.':;tF.tif'i.°q�,�':7i .",{ ""' i+. ...,...,..a.-.c5....,.,u..,.aWn.`+r.'�rifl�a k Vii: f}u+y� 'r� � .�,. Y.`ti,twy ;�. r `�;' .f_ � ;{ 4'0 rt}.Y t,;r. � 2tk> _rte,. ��u"°t e'33 �)i'^"• }� .+- Y 'tar, ^' ' ,. k*'{+,rr.�.t`Y Y�( •r5�'�1 S,"3.,: §� J 7 i t a business other than as lessor or to use any funds or revenues t7?xsE's`i. 1� from any source other than funds and revenues derived from the " �x µ Project . " . Section • 802 Authority to Execute Indenture and Issue Bonds . The Issuer covenants that it is duly authorized under the Constitution and laws of the State of Missouri to execute # this Indenture, to issue the Bonds and to pledge and assign the , Trust Estate in the manner and to the extent herein set forth; that all action on its part for the execution and delivery of this Indenture and the issuance of the Bonds has been duly and i. i,,, t.,.. effectively taken; and that the Bonds in the hands of the Owners thereof are and will be valid and enforceable v' 54 obligations of the Issuer. according to the import thereof . ` M. Section 803 . Performance of Covenants . The Issuer ,wt �, . s covenants that it will faithfully perform at all times any and all covenants, undertakings, stipulations and provisions contained in this Indenture, in the Bonds and in all proceedings of its governing body pertaining thereto. ' '``° '✓% Section 804 . Instruments of Further Ass urance. The :t{� Issuer covenants that it will do, execute, acknowledge and deliver, or cause to be done, executed, acknowledged and delivered, such Supplemental Indentures and such further acts, ro= ? instruments, financing statements and other documents as the ', . Yt, Trustee may reasonably require for the better pledging and 9 g � �. assi nin unto the Trustee the property and revenues herein described to the '" # ill F'R Y ! payment of the principal of, premium, if any, and interest on the Bonds , The Issuer covenants and agrees t, that , except as herein and in the Lease provided, it will not sell , lease, assign, convey, mortgage, encumber or otherwise s dispose of any part of the Project or the rents, revenues and receipts derived therefrom or from the Lease, or of its rights '' and interest under the Leases" }Y Section 805. Maintenance, Taxes and Insurance . The Issuer represents that pursuant to the provisions of Article VI • of the Lease, the Company has agreed at its own expense to cause the Project to be maintained and kept in good condition, f repair and working order, to pay, as the same respectively become due, all taxes , assessments and other governmental charges at any time lawfully levied or assessed upon or against the Project or any part thereof, and to keep the Project } constantly insured to the extent provided for therein. Section 805. Recordings and Filings . The Issuer covenants that it will cause this Indenture and all Supplemental Indentures, the Lease and all amendments to the Lease and all appropriate financing and continuation statements and other security instruments to be recorded and filed in such manner and in such places as may be required by law in order to preserve fully and protect the security of the Bondowners and ; the rights of the Trustee hereunder. -41- r � { Y � :�' : ri ��''.�p6riNtR+r""'.. _'."_'•'"'^^"1. , } �s,�", t��J3 �f.;m.{ 4! t+' �t' id } ! �{ i ! ...r`r c e. , y t t7, �he ,C{4 •i.ry,�• i • , Y } .., :".Y-,". 1 `4 j rF .. .+� C t ttk`"'T'•lF,. �' � ,,t:' �,8Y,7'•rt, xy t .. v r tt ( ✓✓YY .r{C(t°Cb t..jl ;' �F PIt q4l ..1,t rt l i s w f ,� t{. Y .!.. 1 \ .t Sr F n 2. .{ .- S , } X'.•`4 r 1' 7 .rx-r' t ,,! '�� .�S, {P?r,rz� t l d?.'d 'i,t, .� .J'b':1� .t + s .�.1 .1 ty r '• {s i afrF'viitr�},��`'.xiy�ftm�.� i t , ,f! ,: :.mCa%,! e� r,, ,L'. r''�"1• Yt" t ,,t -!Y.7'.. r:. .. tr p�:. .+ r f wr• . {!, s; t �. .,.r" d t3 ) tS:' y t -, r 1'' i •S } +':1 F 1 a. y*y :a y .J 3t:�ttaY 'Y; �"s � In .%' (( ,xt Tj{Jj{.K&C.�T' t rf f f � ,,t 1 } i t .. ..i�,r y 1'�i't. r �(�•5 ;'�.t•`l ;✓ �OkkY �{.�l yi($t}i��Ylr�`M 1�,.�1 �� ' 1�t '^�.t... { 'i-f.:' ( `f j' ttRR^^ IFS t ! y �Y 1 Y 1 `y � 't 5 {' � �! .'�I`h i. ! y t }�,��y�k✓'�1��' .K ^++ �,{��t'J„"�a r•`Y o ,YL!;Yl s �'t.}1l i. $ } ':"t 1•3 1.Fj1Y'r rJ �'t {tL,. V^ y;?y{F��. '�t�llt��F.i'�a�,�S; ..�L`x+�Y .R� +f•�1 6 Y'rf: .+� � s tj�^ �� a y \ iii^t .l'y!i t tdz . '�•e11"A�{�f,`y,^�`,1 �••, ? r �t�:t��4�<t �';: ��t',• �,, ?� vlt r k'4. 12T: 1, . r ,:'r rJ ,f '., .. Ij i. c. r y i1?�*i}"t�r�a�;.`�`i��j'R.'iy'� •y 'X'r r' {-. t rY. sl 'Y7k s' r {; .'a .� r '? :;5;1 „yv yy�r.:. ,�• sfiri; :,, �y Y{�z•tj�, :`# fe, t,.t4'�,.t{'i z .Asl« r:y .t ��. f fit`. ;,u , ..,, 'W"f'.. Section 807 . Inspection of Project Books . The Issuer covenants and agrees that all books and documents in its possession relating to the Project and the rents, revenues and receipts derived from the Project shall at all reasonable times r + be open to inspection by siich accountants or other agents as the Trustee may from time to time designate. Section 808 . Enforcement of Rights Under the Lease. The Issuer covenants and agrees that it shall enforce all of its rights and all of the obligations of the Company (at the �. expense of the Company) under the Lease to the extent necessary to preserve the Project in j good order and repair, and to • �.; protect the rights of the Trustee and the Bondowners hereunder na with respect to the pledge and assignment of the rents , revenues and receipts coming due under the Lease. The Issuerpr ` :�'& agrees that the Trustee as assignee of the Lease in its name or � ,�Y ,` in the name of the Issuer may enforce all rights of the Issuer and all obligations of the Company under and pursuant to the Lease for and on behalf of the Bondowners, whether or not the Issuer is in eau t df lt hereunder . ,l:tFYY,r . t'TMr 4i�4 2l w,. Section 809 . Corporate Existence of the Issuer; Com- pliance ,.. with Laws . The Issuer will at all times maintain its �,,:�.,;:�_. ,. corporate existence or assure the assumption of its obligations under this Indenture by any public body succeeding to its powers under the Act, and it will use its best efforts to maintain, preserve and renew all the rights and g powers provided �•r••. . �,� `T to it by the Act; and it will comply with all valid acts, y,. rules, regulations, orders and directions of any legislative, - . executive, administrative or judicial body applicable to this Indenture or the Lease. ARTICLE IX 4., ' DEFAULT AND REMEDIES Section 901 . Events of Default . If any of the following events occur, it is hereby defined as and declared to be and to constitute an "Event of Default" under this Indenture: ,uTM ki! (a) Default in the due and punctual payment of any interest on any Bond; (b) Default in the due and ' punctual payment of the principal of or premium, if any, on any Bond, whether at the stated maturity or accelerated maturity t, thereof, or at the redemption date thereof ; . t (c) Default in the performance or observance of k; any other of the covenants, agreements or conditions on the part of the Issuer in this Indenture or in the Bonds contained, and the continuance thereof for a period of 60 days after written notice thereof shall -42- L. 1 ��'. l�.: w_'Yp {MIv r �",i tiz+J J° w e� sfi k h 3 Fv! otth } fP�S <xrja •�� , L�'�,.vd`�� '.u.�f'�t t}�j��ci��r Jt iia�i r+>3'��f. �ii.tri5 t,�r it....:tjµ� jt i! �,axi F+i.¢j h�Ya{t f�f{'�}d xylS ! ti ,� i .t'?H,l.4'(�t'M+��[;?;-#' 5 fr z, s�.< f S fkyt {4#` ti j X Y j. si 3 f9'�. .� v 't t 3 Cr ❑ 5D ,l ity'�i^'`�`i} •'•+k , gy^ Y �ta' .ts'''1`-h;�t Mimi ffa, '�f '�.y t4 iC at vx �•.. o. � �.1 �^wCf{� ilY .� '.+tit! 1` � 1 it + i z, T}� rt nt,t e 7}t4�Kt��'y`�.4 ..i S. � " �" ..�� w# fig'{r(�l-�,�1� t�ii ,.'� f . f s7 � t s l ., n <•> T �r,r "1 op,.� + 7 e t ✓ 4�' ; Ft t .:#t t c.. ..s i .7 t d'ir kt k N.(rr.`a 1 ,,("'r xi*rti ty:t4 "1x�y'�Ss; t} tr ;s v }i *7J3a}"'♦Sl'9fX* j r t ;a� +t?i •'1 Atr r y#Ftd�aY x- x k: t ..%r . :, .t}: i • t S_# st{✓ 1 { � x+ a i s , ,r, :•� 5 ff, �4,. $ � �,y r ` x• .Y]S a .jt' °�t� � 'tt f :t} '.1; V 'l k n�� ,r � ,3`, (�'..3.�Y...I ,•».._ i�� i g X .• .lam+fir}.+rtd:'9,w.:�e+y. Ytd!�" .. ,�R; 4ri x,�•' !"t.i!'. �+. ;:.�.d'�s.,.,rdb..,n1 +3 •t NAa.n,x. {{ t r. r� _l have been given to the Issuer and the Company by the Trustee, or to the Trustee, the Issuer and the Company by the Owners of not less than 25•s in aggregate principal amount of Bonds then Outstanding ; provided, however, if any such default shall be such that it R ' ' cannot be corrected within such 60-day period it } shall not constitute an Event of Default if corrective . ' action is instituted by the Issuer or the Company ' within such period and diligently pursued until the default is corrected; or .sr�t (d) Default as specified in Section 12 . 1 of the ' Lease shall have occurred. i With regard to any alleged default concerning which notice is :s , given to the Company under the provisions of this Section, the g P � . Issuer hereby grants the Company full authority for account of the Issuer to perform an covenant . or obligation, thet.,t. � Y g nonperformance of which is alleged in said notice to constitutef* a default, in the name and stead of the Issuer, with full power to do any and all things and acts to the same extent that the Issuer could do and perform any such things and acts in order to remedy such default _ Section 902 . Acceleration of Maturity in Event of =:F Default . �t. (a) If an Event of Default shall have occurred and be continuing, the Trustee may, and upon the written request of a` the Owners of not less than 25% in aggregate principal amount of Bonds then Outstanding shall, by notice in writing delivered to the Issuer and the Company, declare the principal of all Bonds then Outstanding and the interest accrued thereon immediately due and payable, and such principal and interest shall thereupon become and be immediately due and payable. {; (b) If, at any time after such declaration, but before the •Bonds shall have matured by their terms, all overdue installments of principal and interest upon the Bonds, together `+ with the reasonable and proper expenses of the Trustee, and all other sums then payable by the Issuer under this Indenture shall either be paid or provision satisfactory to the Trustee shall be made for such payment, then and in every such case the Trustee shall, but only with the approval of the Owners of not less than 50% in aggregate principal amount of the Bonds Outstanding, rescind such declaration and annul such default in its entirety. In such event, the Trustee shall rescind any declaration of acceleration of installments of rent payments on the Bonds as provided in Section 12 .2 of the Lease. (c) ' In case of any rescission, then and in every such case the Issuer, the Trustee and the Bondowners shall be restored to their former position and rights hereunder respectively, but no such rescission shall extend to any -43- tar . ,I t ! `x � ,`"L Y.1;. rr ; 4, r . . ..•+•+•. r- l.� t F . x fi ) krt ! �P a �gs�A t f z fo`i+t5s E a;' i 4,+ t i1; r r� i ..l.ri2 to h x t stria t t 4zF}Tx��kfr i3 ,,��.!. t •Sr�, s.y,iL tr�,�],t 'rtN, ' ' < .1 rt�r. } r X i. t a t£ k, w t K 4::+6 I ,; r$ ?. r. y r .}�'1 ''4 S I r ''# r t• S; t�1 • 4 x,r.,, n ,t: *t,"y � �` F'.`�. ":Y, F' t'��'�u'-'+�" �� Sx"+'.?TUrK$r'S''£irt'wt n�Y,';+iC:`t ,.�< 4,•^Lv,f:r E+.;writ:''�eit`, } i r1k. rtY' t: 1 .. 7.1 V.t'�•l"i rii,. €fi'{°v4 tq` t"#�' I ,. y,ib' tint• '�rf}tr t�,'i .*ir � r �+ � } f t(. #f� rir aa+> .lit P t 4:Rs f a h i 5. 4 f 4 v.� ..�._`*�Qk tt�• r ,. •s i 9 �`'�i3". ,'s tit3 { b �'�?k `;i}., t fQ ,}f r1 tr,„tf .. i i' t 1i`I Y Sr',uftA + r�e{Y .i rrti'`t ��3 rfti�. y�;��, l; J st51`n A i{ k .,,n lxt .$ qry t. .Eu.Sr AN �'.. f tc. 11! •i& ..� e ?(c,t .S.k• . $ r 1 ? t x a € k; i<14Yi Srr•.+7 3 t, t. r..i 'iF .,..i{y ,. y t, b V t t Y• r .ar9 r { `;S..y�' i t €,.,tl:r `7rwtr- r zti3 ii: it'a } z :,f t1 4 e. 11,3y 4 Sj.'. { r .ilr �`r xr tt{ sc ., P,r-` 'r ,4t• t !t r p + 11 .r rx. i3' i .a. r r• 3 s c 1 I K. rlri :rSF,�b %L'"','IP9"�i,e, f'}Ijrl'.t"" .� .1 A. 1, a .r; ., ,;i, �`.4 r• A .,i�. ,.. .t .r { !. Y2" f:.4,t , 'fit?L.!ti..i ; ` �,�y ?' 6.;_ fill .l rq f, y ';z :H t •r �'•r' .. 't'``k,;,: Z , �t �'r j� jI t,j#+� n xi.• � �t € t a y, syut .,* na: �� ,in.�'<" s.:. ...;S.L.eu1 i `1+5. Qa 3f43 it, ado-. ; 4. ir: :t xs p° ; ,,.#r.t.l • iyr� :'•, :,, .-:f•. ,�� .F.;: ° 1°; r � r "d ,r A� ,�j�+.4i 'a€`�f�`��k��^M'��r'��r,�}:�ti>~ak�;,�, t�:. � �i r Ct r pi subsequent or other default or Event of Default o r k,x 'uf,tfkfi5tt right consequent thereon , r impair any =- = •"°` '4x -`n7ts7kS�� ,rani Section 903 . Surrender ofl.N i hts and Duties of Trustee in Possession n of Tans Eve t F Default C T shall have occurred and be continuin y exy;4 '7 demand ssuer, of the Trustee, shall 9 the I upon surrender r r e `'A ;�-' •; forthwith nder the of, and it shall be lawful for the Trustee b r . possession agent as it may appoint, to take Y such officer or of the Trust Estate, together with the b books,1 o a ers Part: � accounts of the I P P and � aY F rights and the issuer pertaining thereto, and including the V';= Position of the Issuer under the Lease and to3i .°* : . hold, operate and manage the same, and from time to time m ake all needful repairs and improvements as shall be deemed wise the Trustee; and the Trustee may lease the P thereof, in the name d Project or an bt n e an for account of the Y Pa IT collect, receive and sequester the rents, revenues and receipts f<t3t` rt therefrom, and out of the same and any moneys received from an tr receiver of any part thereofr t,, t t �a • r. for the payment of all pay, and set u Y Proper P Proper reserves ;r;s`:.;,;'"E ` U• . holding managing P er costs and Bing the and expenses of so taking, same, includin reasonable compensation 9 without limitation ( ) :�t',�•.'�r>'•��°4}`'' to the Trustee its agents and counsel i i char a��;':•�:��rruvt`, a ( ) any charges of the Trustee hereunder, assessments � and other X'y char (iii) any taxes and •r�:°,. �:,'. charges prior to the lien of this ;{�-,.,>vw•,••��t;{: Indenture which the Trustee may deem it wise to j, -1z=;rt• s. all expenses of such reps PeY, and (iv) P s and improvements, and the Trustee3i ;, , shall apply the remainder of the moneys accordance with the Y so received in � r�� `-:.r In provisions of Section 908 hereof . Whenever _: all that is due upon the Bonds shall have been defaults made paid and all "" the Trust Estate to the Issuers is lsucce sorrier y� ``` Possession of same right of entry, however,r s or assigns , the k >aw l i 9 Event of Default. While in to exist upon any subsequent Possession of such Trustee shall render annually to the Issuer and the property, tha6w �rFj summarized statement of receipts and expenditures in connection rr .. therewith, Section 9 •r4 04 Ap ointment of Receivers in Event of IY Default . If an Event of Default shall have o__ ccurred and be continuing, and upon the filing of a suit or other commencement x: Of judicial ;,t.. proceedings to the Trustee enforce the rights and remedies of and of th ,.- e Bondowners under this Indenture the � r Trustee shall be entitled, as a matter of right, to the appointment of a receiver or receivers of the Trust Estate, or any part thereof, pending such � the court making such appointment with such powers as PPointment shall confer. Section 905. Exercise of Remedies by the Trustee. (a) If an Event of Default shall have occurred and be continuing, the Trustee ma or in a uit b y Pursue any available remedy at law 9 Y Y suit, action, mandamus or other Agh enforce the payment of the principal of Proceeding to interest on the Bonds then Outstanding Premium, if any, and , and to enforce and ..r -44-- -•f 75 trr (ygy y�.a5 l t� 12y�+VJ� �' � l.f �`SIiR��:�u��; • j�,,f{)k,}}�•r��d'�t'�r�R't�` ! i,.:+ '" , `, ,� "^T-w.r. ."R r,w..-. " ` ;v.qi'&ik,c!'r5,i ,pi.�lt�tf r t`ttif'a nt t ,{ r '..J r i r: itikr Y 'tf hyy &t5"a}� t, 1 �5'`Z r �f�! �' t�T N!f k1 l i k (tl' } ; i I 5�'H�,t•V2` -iT`� 0 t �t rS; �3y ' �v�4�� '2•�'F,''�� .�l 7i a.t t l i.• , S 1. >t r�( i ffrala4 :. ,' a•'+�„r r ;�7 #t={ '',�i.�1yi`F y, i� e rtJ ;r ra � s .t ,� � ,i.`rhr• h��sA��t:3E�f�ts-C.1rHk Sr " 'S'y 'i;i: :�` r r: ;t! L r } x�,. El.t:'.�fgi"�t�r�{ s �',� % .. � ,• .. 4. ev N -'AMA r } .'f ��r. R� ��.T^' .sl Xs Bait MYj .IV tS,"r :d 7d i! 7(ij*�:� i.rr t.� � t +N 1 t!": >,ir i s s!ti +lert`i''f tC'+',X,,�''✓i F�2, ' :�• ay.'*, -tr: ,�. e:' � V•. "v � 1 E , .�,"''.,,.,,... ! t °f! x'3}4 p�'a. �Y+}. 4 .r,j,c}. ' },5; fn: .s ,.t4. .t 1 1., 71 e a ,^.�.•r{r�i. {t 1 � n;tl'+,i�;;i:;T,•;rt" ` ',��,l.�1;-.,+ a•.i s< £ ra.a.5, t Pt '},•a � t r. .rs' � rt. t'.1. a -tt� "it��;;i;:'' Z�� .•A*1�i� :'z�.; S t4.15C k y.. .,^�) it"it h.t..1TF• .+, ut rh#i L 'S;, Ai! "t ,. at"3Si'. , ;.6fiy ,."x t �MC..'-t ,Yu:'`.rta,..ur•s?3 ,n RSar'�.EbLlka'#X;`zs43 .,�i,' n w:J aftr t.. r,. 3 t")� < #r zo; `. compel. the performance of the duties and obligations of the ... :f .< Issuer as herein set forth. ,tut (b) If an Event of Default shall have occurred and be if requested to do so by the Owners of. 25% in ` continuing, and @' aggregate principal amount of Bonds then Outstanding and indemnified as provided in Section 1001( 1) hereof, the Trusteep`':<' shall be obligated to exercise such one or more of the rights ' and remedies conferred by this Article as the Trustee, being : advised by counsel, shall deem most expedient in the interests of the Bondowners. „ (c) All rights of action under this Indenture or ~ ` "`' under any of the Bonds may be enforced by the Trustee withoutfl°r '' 7 o the possession of any of the Bonds or the production thereof inr" 5 ,," any trial or other proceedings relating thereto, and any such r} ;c w;�.;. suit or proceeding instituted by the Trustee shall be brought rT in its name as Trustee without necessity of joining asr , plaintiffs or defendants any Owners of the Bonds, and any ar „ ;r recovery of judgment shall, subject to the provisions of uY Section 908 hereof, be for the equal benefit of all the Owners of the Outstanding Bonds . Section 906. Limitation on Exercise of Remedies by ' Bondowners . No Bondowner shall have any right to institute any suit, action or proceeding in equity or at law for the enforcement of this Indenture or for the execution of any trust hereunder or for the appointment of a receiver or any other remedy hereunder, unless (i) a default has occurred of which 4 the Trustee has been notified or is deemed to have notice as << provided in Section 1001(h) hereof, (ii) such default shall have become an Event of Default, (iii) the Owners of 25% in aggregate principal amount of Bonds then Outstanding shall have rf made written request to the Trustee, shall have offered it �- reasonable opportunity either to proceed to exercise the powers hereinbefore granted or to institute such action, suit or proceeding in its own name, and shall have offered to the Trustee indemnity as provided in Section 1001(1) , and (iv) the s: Trustee shall thereafter fail or refuse to exercise the powers and remedies herein granted or to institute such action, suit or proceeding in its own name; it being understood and intended that no one or more Bondowners shall have any right in any manner whatsoever to affect, disturb or prejudice this Indenture by its, his or their action or to enforce any right hereunder except in the manner herein provided, and that all proceedings at law or in equity shall be instituted, had and maintained in the manner herein provided and for the equal benefit of the Owners of all Bonds then Outstanding. Nothing in this Indenture contained shall, however, affect or impair the right of any Bondowner to payment of the principal of and interest on any Bond at and after the maturity thereof or the obligation of the Issuer to pay the principal of, premium, if -45- ,,•x{:X;.r,yrryS .t. 1' r' 1+�',�,,. wr �J 4W'r,r• �kl-Y"},"t{.tny.11 �( ri }'Y, , �, 777"77,,d a k+S�l e jia .^shy. f t r tan i iyHHH�111gg a It r i+ S M d s . t�iyr ° l 1S ;f bl•'i$I�l rr.f.. >~. ^au :>x"t r s �!5,. •:y S r ` '�:✓„y X'k f} i¢::k rr .,t .:{•Db +'Ijf�p ;:,i sye.!,Kt± ;��N 1��r5rt� {i ry��r. �tei + 7,E}�,.. rtL't.} ,°..�';.'tr"Yn.t•T�.�.t: 4 �.v}�yZ'"�ii ak r�ftc �, d,. . �t� i r�'„t'jctS `^ 1.3r i +Yr{ t�f5£ P t r ,J ,z it S t..r ••''': . of '� , 't� r� K ,�'({. L !<..' } -y a'r• 43 t f# e7 ttr r r 1 r ! 7'S. �t s �1 i 4 r. it��KxY'�.''�"4��,�' $F . F 4d,. ,t 7R t d i r'A)ti t �� .7� 'S .t {t,{ }� ;+ „5 . 'P�1�t},.tt.t t#i s e p x"i-t..i�;f `�'i ''.�"1X {�• �, e j;. p, /. t rt rya. 4 rS. of5 C f r i r S •.:r.r s •5<• 5T Y"!fi}.g ,}'e`asc` t`'� •iS.�;r 5-.s ly ,kkC�S iiC .r•'k'.T '.t .r+-i; t i .t; .t i ..J ` 5 'r"ft F,. � te, ,r a� ?4r ,KvUr i{ t.{ 3,! + t., 't a .''`�: t .i b. S'''�?.• t i,, f�' ,�s, . } y.` s .� ,��.„�i;,y ,!t•.t .4r,� .r .tr ,'z 4f. sr, .t 7 + rx ,t.t. .t. 5.7C, ;y}, .� Sr" gt��45'.`tn �,rt r y yl 'i.* 1 a�h {. •. ;t.• X's. �� Y ;'^ S :r.:-" y ',i,`` .�rRSS:r�� w f � '.;i,.. .�to , }.5 .;'z. ,. , .. ;.. r :9� x a.'�.•�3.;;:°(+<.x ..r •� r J t``t 1 z o ", t. tY t y,, y J .'�:a E. r�� ;t , yr y- y 7r , cy�t.':3�ea�:k�al;� '�' t 'ii r � i y :t,i+ r;•k Sr �W,�4� ��°' �,.y�`. „a .: t • �e , +i_e 5. S .; i�,:._ CFo-,< ... .. r't9 :r3,.. . .Ytl.• , r any, and interest on each of the Bonds issued hereunder to ther .a: respective Owners thereof at the time, place, from the source and in the manner herein and in the Bonds expressed. Section 907. Right of Bondowners to Direct Proceed- ings. Anything in this Indenture to the contrary notwithstanding, the Owners of 50% in a ggregate principal amount of Bonds then Outstanding shall have the right, at any ' + time, by an instrument or instruments in writing executed and delivered to the Trustee, to direct the time, method and place .. of conducting all proceedings to be taken in connection with the enforcement of the terms and conditions of this Indenture, or for the appointment of a receiver or any other proceedings r• f ;:,:. hereunder; provided that such direction shall not be otherwise than in accordance with the 'j ` provisions of law and of this ,f.a.. . Indenture. S Section 906 . Application of Moneys in Event of De- fault . �'1�s44 (a) All moneys received by the Trustee pursuant to any right given or action taken under the provisions of thisZa Article shall, after payment of the cost and expenses of the proceedings resulting in the collection of such moneys and of4 the fees, expenses, liabilities and advances incurred or made by the Trustee, be deposited in the Bond Fund and all moneys so � ' rt deposited in the Bond Fund shall be applied as follows : d (1) Unless the principal of all the Bonds shall have become or shall have been declared due and payable, all such moneys shall be applied: �K First -- To the payment to the persons entitled thereto of all installments of interest then due and payable on the Bonds, in the order in which such installments of interest became due and payable and, if the amount available shall not be sufficient to pay in full any particulark installment, then to the payment, ratably, according to the amounts due on such installment, to the persons entitled thereto, without any discrimination or privilege; and wn Second -- To the payment to the persons entitled thereto of the unpaid principal of any of the Bonds which shall have become due and payable (other than Bonds called for redemption for the payment of which moneys are held pursuant to the provisions of this Indenture.) , in the order of their due dates and, if the amount available shall not be sufficient to pay in full Bonds due on any particular date, together with such interest, then to the payment, ratably, -46- '�' .✓�� } a % z i ' t t s'rr'�•n �4Y�'�'`��F�,�}r'��'�8`t� r. ,. .%ii'•,��`';", .v k+ �i St} U" ��t tl3"i K'f Sr{K''`' N.0 CVT.�fi. r kJ i �`�, a{i ��r!�'J. �n t�(,.�'tt t"��•:pN''f$�.� � ''� •''st'e.`3 �� H"C!} �''{t.� yt tsP n�• { r .t "i'?f} l� ti S Al ii• .tt•dV y7r 4 I 1 RS,� 1 .ir7 ,vr.,� w •.x�''� "�"{+�'•• k4 ft ~c k t gvrf 5i its �aq„ {3 S Sr , }d „ i P 4p 7 R i 41 x s. "r tt. S tit Mtfrgtr 9t' 5 'rht tyt`f.f',pi�•'`t• v ; A d 7 f rr,i ,g .rt', ,„�� fi tf€ t r � ,r. r s✓a, �� 1r. <.a. •r �•� >,' 1`. f ,'{ d.'..i._J hilt }�^ •^j , 1 4? Yt>�✓f 5S$',, e i :f ?., p4 ?7xtt ar„� }” t' k' Jf t tt; . 4.S ft�... �.t.rri�• utt*�b �''S: *' ,y �i+t t,ery� 3G. k x .kc :s 'd ,F �y.,��j; tr �.'? x��t r°'.�•, � z � �� 4?••`t'Y} r� 117fx`r J` {tr ;� tfrt�Y r t '^ jFt �{ :. }'1 t;t uitN'1�' zt axdrh �i?.. z, .'i ,}�,; it�y"'' Z � §yyyzj. 1 r e,5`l• a,+t.. ; ,Z�., t. a• .{1 r.y.t , .. ,. : r.. •�+f• t x �f� ` x � �'1!k;9rY*�,j .x, �{.�.• t, 3 i�t p- y,�,r.f�hrts',+. c,y'•, Ala £ikl` r .� o- 3L t ti! •t lr. r�n`fefb y ,�y;yr.w. r t.} �'�'(P,tH ';� g .315t',sl¢.,�,•t%1CS'. ? tt 1 «.• i l, .�.yz E i 1 :s` 3 t t t %" 4 (} a r ,i,4� .>har Mf ii, -qtp 1"`r'. ��, aj r ,�t>r+4`� {7�� tt4ti 1 AX a t , t ,.t S ..is .,.:; to ,t x4. x r ' �r y'•#t a� ? y . ',;T. ! ' �r17V;.t�!•`�,4 �aCiYi�t'1 Sxl`i�{ � .. •r/f�. 'i 3; .i §t y�� 5. "Yt!i Y 4 r 'i' , d'n i§ .t >tt t i .`i t�gWt�r�� ,• •'^�••e' zty _ ..a{ ,d :t> '1 '14 tt �x •r, . :•;,7': E tfiStj r r "Yt�� 't i't� ! s n.*'S _ ��t f a �` k tswl F ,� • +,�. �,h.�l.hr'Y4 '4�.,;�'!•iw`k�f, k....'"��'n ��"�,ij3��'t3>., +�. . .. ! ''4�r according to the amount of principal due on such date, to the persons entitled thereto without any discrimination or privilege. (2) If the principal of all the Bonds shall have become due or shall have been declared due and payable, all such moneys shall be applied to the f;> 3^ payment of the principal and interest then due and ' r unpaid on all of the Bonds, without preference or priority of principal over interest or of interest over principal or of an installment of interest over P P Y any other installment of interest or of any Bond over any other Bond, ratably, according to the amounts due respectively for principal and interest, to the persons entitled thereto, without any discrimination or privilege. (3) If the 3.. principal of all the Bands shall have � been declared due and payable, and if such declaration «; shall thereafter have been rescinded and annulledR�:Sr,..' under the provisions of Section 902 then, subject to the provisions of subsection (a) (2) in the event that the principal of all the Bonds shall later become due °r ; or be declared due and payable, the moneys shall be applied in accordance with the provisions of subsection (a) (1) of this Section. Aft (b) Whenever moneys are to be applied pursuant to the t. ;. provisions of this Section, such moneys shall be applied at Y such times and from time to time as the Trustee shall :rs determine, having due regard to the amount of such moneys ` available and which may become available for such application in the future. Whenever the Trustee shall apply such moneys, it shall fix the date (which shall be an interest Payment Date 5. : unless it shall deem another date more suitable) upon which R: such application is to be made and upon such date interest on the amounts of principal to be paid on such dates shall cease i to accrue. The Trustee shall give such notice as it may deem appropriate of the deposit with it of any such moneys and of y" ~' the fixing of any such date, and shall not be required to make payment to the Owner of any unpaid Bond until such Bond shall be presented to the Trustee for appropriate endorsement or for sr: cancellation if fully paid. (c) Whenever all of the Bonds and interest thereon have been paid under the provisions of this Section, and all expenses and charges of the Trustee and the Paying Agents have been paid, any balance remaining in the Bond Fund shall be w: applied as provided in Section 603 hereof . 3$' Section 909 . Remedies Cumulative. No remedy by the L' terms of this Indenture conferred upon or reserved to the Trustee or to the Bondowners is intended to be exclusive of an -0; Y other remedy, but each and every such remedy shall be -47- 7` S {'.:-i .K+�'•'+�.'•' 'v{➢ .sir n .. r z i,�" « ii. .:prnr''i';.,u,• nrr»tt� ,, u ' r� •S�.dS + � lfa.� rl,lt„7, tJ.. Ui>3 h t a, y a +"^•,,•+ s i} r t a f :.Rt.t i 5 ,,(a.{ .. y �"`p"54 t}�'..,. irt'?•t TibS°_' 4.i li r 4 r .ts`S r tio.}B �� '',at z iX.sl .(t �i/�"llx�.. �7•p��U�,ibf�a�p„Hf�, •.�.. .��,: .t t -L3 i x: e ;•ai'r t3 Z x 9 t R + 7 b} Lt'+' 3 t':: I•i d. �� .ck{. �T!�{a (,J T� .t..y'f i x + i .li v .,}'„ R. � +ri` 4.+5'f ”' .."y r�.,,r t>4�`z� L Ni^1,ar.N+t§ 'S`�'zyi(,` P{3 � � ��1�•''� ^3 s T r {� r + � .t + � r t {n fr: r r ':s r+ ?. +} a rN r.c�u>C e�J si id•�'sY�rt xxy ti t ..diTt�' .; _.� j lr � �i� .T<y.. t: _ 1 .1'rtd '4 k R '1.l ) Y r i t V A 7 :t� �2��{'i•i }� ?�',lr' j .b +7 k � �Y t .t x t +SS �:y{+r a X Yi tit t S-r, t r I t;' } � ..,"""' t�] t i r _ r t••.,tr ! :;'['"�v -;, lri.i�'+r :5?�ryisi � �. .A•��'� V':i. .�y'} ,•. ua} y tr t:. � c i. t, .�.tr � ft 7 �1 4., :FtrS�,'a �',;`. �;��.''•? �£'G 1` yu ,}}[y ; .,k ,t.�r r, t, t Y o i,c d i N,a `s• +J: {" `:5,:t(�,. �.yr a'Y r"j !3 St'�*'ti<t � 4 '' n4t;� t t, `! .r i:`• } +yra'," i .r �r r + ti : s xZ r i ,j P -0 a f ..`. .t;:t'f t 4:.i 4rl;;,tr t1 :.#.rJ°��'7i• f,YT yfi al. iql �.: :,.`,) a r. I. .'l i , ' l yi a..d<i,N...•f: ,t,S.aqv %34` i Y• tj ��,�vwlaixiJ cumulative and shall be in addition to any other remedy given to the Trustee or to the Bondowners hereunder or now or hereafter existing at law or in equity or by statute. No delay . or omission to exercise any right, power or remedy accruing . upon any Event of Default shall be construed to be a waiver of any such Event of Default or acquiescence therein; and every 4, such right , power or remedy may be exercised from time to time and as often as may be deemed expedient. No waiver of any Event of Default hereunder, whether by the Trustee or by the r' Bondowners , shall extend to or shall affect any subsequent Event of Default or shall impair any rights or remedies ' h , j consequent thereon. Events of Default Subject Section 910 . Waivers of Eve to the provisions of Section 902 hereof, the Trustee may in its �� discretion waive any Event of Default hereunder and its ..: 3 k consequences and rescind any declaration of maturity of principal of and interest on Bonds, and shall do so upon the <reafi;., s=`.b written request of the Owners of at least 50 s in aggregate .,,. principal amount of all the Bonds then Outstanding . In case of any such waiver or rescission, or in case any proceedings takeny¢r ;. by the Trustee under this Indenture on account of any sucht :a ` $ ; default shall have been discontinued or abandoned for any £ . .°; v reason, or shall have been determined adversely, then and in Y: every such case the Issuer, the Trustee and the Bondowners ; . shall be restored to their former positions, rights and °z obligations hereunder. , respectively, but no such waiver or . rescission shall extend to any subsequent or other default, or impair any right consequent thereon, and all rights, remedies 't and powers of the Trustee shall continue as if no such proceedings had been taken. ARTICLE X "`<y THE TRUSTEE Section 1001. Acceptance of the Trusts . The Trustee hereby accepts the trusts imposed upon it by this Indenture, and agrees to perform said trusts as a corporate trustee or would perform said trusts under a corporate indenture, but only upon and subject to the following express terms and conditions, and no implied covenants or obligations shall be read into this Indenture against the Trustee: 1a a The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default which may have occurred, undertakes to perform such duties and only " x such duties as are specifically set forth in this Indenture. If any Event of Default shall have occurred and be continuing, the Trustee shall exercise such of the rights and powers vested .. in it by this Indenture, and shall use the same degree of Dare ., and skill in its exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs. -48- .d s S s, v 3'. 777,i ^ Vs r.w,�, ...en..>• [ d . �-yy, �}��. } ` ., dt{`,K�S4 R4•! :k�` ,`�j'it ' `dy y1 aY r. r. 4�' 'S"lu iir"'i'V,:}i r� !� k( t�!. Y%: ri+t� r '`.es'}' 5 ��'s tre4,$ t %J, xs , '.fit -.F-k � -,�fik, > ti,J r; y,4�"t, .�ar� IT r'`Ff �P t Y 1 c1 t s'�.S°°t t it Y r c t i�3 F 4 i 'k �$'h�'j}�, 'S3"�'; ''b }'� 3�'.�. �'4 �tit�"a•TMt f t I AN { t � ,..ii'. I��`.r +:"B;fr � tl r} 3• ?§ , � � AF :irf f arr tt?a ',v .j{." , a�° � �;r. t 1�. -2.2..{ �tt � .'! i i A• J s : :Y f �,,p�, $' �2*!i Y#'�� ryli;Pr S"��.. a-F4 :A;�'ps; ��s m�`>rtb��';}'�:�i•;lvt 4r �`w`,.,s ,.t}.r�� 1. ! ) igti.� r :v f� ;r. t,A` ,;�t. �.,�i.3 �'i<a.i2t}�' ,,ic } }x •�.�� • )��i1��!•`'Y�'�^'1.f��y"�''i 1��1 ., , t4�j 7. l.0 ,,;k.-�� t r. 'r',sl , �;• .:,,; �i 1Gy'ftr .i. b`'i� w�:'�i:,;y; . 'E�;i �i t�Y � '� `,�. •I. ti� e,: ��j � ;s r, .� . ,i'. a.," is - .. ,7,,� i :,�, •.�, st�t�i'�t�rx�.�� dt''�, < x fa r l `. s� r.s�} r3�s ��'".r�; � .{. } t ,'7''`t7 ... � �?�1� t��: �riz �•,i '�#��x;ci+:��'.TM`,',"y&t��;?t+1'.t��? ... `..L ;'lfi.r ..,f�Y.t,$` ,:w. �'Jnla'a�r ?7... execute any o£ the trusts or . (b) The Trustee may duties hereunder either under or perform any hall " powers hereunder s and s ��'.. Alt% direct or through agents , attorneys or receiver � ' ry r onsibl,e for any misconduct or negligence on the Pait ` ; not be resp �rz' agent, attorney or receiver appointed or chosen by of any g act upon the , x with due care. The Trustee shall be entitled toYZg. opinion or advice of counsel , who may be counsel to the Issuer concerning all matters of trust hereof and or to the company, such reasonable ' the duties hereunder, and may in all cases pay compensation to all such agents, attorneys and receivers ustshereo` " be employed in connection with the ' rA reasonably loss or damage The Trustee shall not be responsible for any or omitted - t.,' resulting from any action or nonaction by be taken in good faith in reliance upon such opinion orr$ , to counsel advice of sib 1 e for anyy :#kxT.y (c) The Trustee shall not be responsible t n ,yl with respect to the .:i recital herein or in the Bonds (except sr filing or refiling `" " `" Certificate of Authentication of the Trustee endorsed on a '„t'✓} `t i ' Bonds) , or for the recording or rerecording, in connection agreements of this Indenture or any security ag or collecting any therewith, or for insuring the Project the insurance moneys, or for the validity execu Indentubes or � Issuer of this Indenture or o£ the Supplemental 7 racy}r,. a ' {.Y j= instruments of further assurance,Trustee for shal1 not Ebel re ponsible ;..>.,, security for the Bonds . The or liable for any loss suffered in connection with any t, investment o£ funds made by it in accordance with Article III }` hereof. ` Trustee shall not be accountable for the The h” The become of any Bonds authenticated and delivered hereunder . in its individual or any other capacity, may Trustee, the owner or pledgee of Bonds with the same rights which it would have if it were not Trustee. rotected in rely and shall be P Y; (e) The Trustee may resolution, or refraining from acting upon any notice, acting opinion, report, certificate, statement, instrumen , °P letter, telegram reques er d ap�r for consent, pr ded affidavit,for under this Indenture b; . it to be genuine and correct and to have been believed by the p resented or sent by roper person or persons . nY ' signed, p ��. action taken by the Trustee pursuant any to ersonl who, at the ntime . x. request or authorretue t orngiving£ such authority or consent is i making such q binding upon all 4, the owner of any Bond, shall be conclusive an Bonds issued in and •' future owners of the same ansferdor in place thereof . exchange therefor or upon f act (f) As to the existence or nonexistence of any paper .w or as to the sucency validity of any in ffii or , r roceeding, or whenever in the adminis that oa matter Of s. o P :P Indenture the Trustee shall deem it desirable -49- Yt+ 1 .v i- ,�+tta,rS� Sb ifi tE`4'��fn't r}, +t u �I r�. +� t �Mti•{ .c .t .:.7 r f �7 atr t $ .� ��t{Y t t 7. �r�t�� } f 7 J SY t f zt 7'i�ti tA3 .i _'LS tick^•'^"t`'})4_t'a!: �if.$ !L•<`1 �y4 i it+P A: i:t 3 t t #r. an`r '� 1 Ir V Y}. a , a tr,�#1 avk ��r r s.{ t r, ;a' .h r '" C'�l' t i .. t r tr�� -. �F i �a�yr'artq2f�di +"�,�,�';?'n ,,,trY.��. i r f 3a�t. t. 7 t:t t�:k`ni s r.�r�$ fi;r-a �.1t rS�r,,�?'�;, .fir• t, :. r + '' ;fat^ ��,}>S� �.. r, r tt �r Y y L..i ...ti'+n xy.1}• i v,.J. j� ors tfl;�:.+t � k�k�Lr ia+;t d Y"y{� � �y�"�,� �i. µ -jJ (.x(.�� Rt t'<..4'xy ,}�.:t:.<W�„'*:,.✓;;{pS l3i��'�rr,�iF tlf t�?r j;l=s ,S,jr � *. i t }{t i r �. t s `';, i:r/y vttfi.'r§.ei�l4:;�i"�w.,� , : �� $>:�� 1� '` �f�. y,rw�' ,F. .v... r� � 1.; r4 ;;i,' �"� . . .. ;r,✓'SF:;e r k��a�{��'�� N� ,,,nwwdw,. 1' li zt - , - ,t'.�L '`{ Pi!,"'•t '�. XVsF.'fii R'�1 'x;q. Sseazi3 a dd} -AN r H t ;,MMWfl r"M 4 Qz .jr%JFa7W`dtaJYi�6eY: i1' n :. ... tc „!.. A., �'ht. xYl 9., proved or established prior to taking, suffering or omitting ;._ , :;, any action hereunder, the Trustee shall be entitled to rely upon a certificate signed by the Authorized Issuer Representative as sufficient evidence of the facts therein ,?;- of a default of which contained, and prior to the occurre nce n notified as provided in subsection (h) of rp.rz3. �= the Trustee has been p . this Section or of which by said subsection it is deemed to ,V ` have notice, the Trustee shall also be at liberty to accept a similar certificate to the effect that any particular dealing, transaction or action is necessary or expedient, but may at its :z; discretion secure such further evidence deemed necessary or t „.V.' advisable, but shall in no case be bound to secure the same. y'' (g) The permissive right of the Trustee to do things f enumerated in this Indenture shall not be construed as a duty, r �,r and the Trustee shall not be answerable for other than its negligence or willful misconduct . 5 ri (h) The Trustee shall not bp, required to take notice or be deemed to have notice of any default hereunder except [� tp•�F"Y[„f^ . failure by the Issuer to cause to be made any of the payments 5 to the Trustee required to be made in Article VI hereof, unless .< ` the Trustee shall be specifically notified in writing of such default by the Issuer or by the Owners of at least 25% in � .F , r aggregate principal amount of all Bonds then Outstanding. a }^ ( i) At any and all reasonable times the Trustee and �w '. its duly authorized agents , attorneys, experts, engineers, x accountants and representatives shall have the right, but shall not be required, to inspect any and all of the Project and all `t E, books, papers and records of the Issuer pertaining to the ' Project and the Bonds, and to take such memoranda from and in },. regard thereto as may be desired. (j ) The Trustee shall not be required to give any bond or surety in respect to the execution of its trusts and powers hereunder or otherwise in respect of the Project . (k) The Trustee shall have the right, but shall not be required, to demand, in respect of the authentication of any Bonds, the withdrawal of any cash, the release of any property, or any action whatsoever within the purview of this Indenture, any showings, certificates, opinions, appraisals or other information, or corporate action or evidence thereof, in addition to that by the terms hereof required, as a condition of such action by the Trustee deemed desirable for the purpose { of establishing the right of the Issuer to the authentication of any Bonds, the withdrawal of any cash, or the taking of any other action by the Trustee. (1) Before taking any action under this Indenture, the Trustee may require that satisfactory indemnity be ' furnished to it for the reimbursement of all costs and expenses = to which it may be put and to protect it against all liability -50- r =,t '"i', • Y��.�k^. •r yt r {�4�Ft.� -'- `�fi 1`}}t��•�_i f?,�iy�tt Y 9td+�{r'Yry��:.�,',n t t'yy�kr'hzx:+.sj`,�[i��J'."s-fa,.�yt�-ri,'.ri�Ur�i'r�i�v'faZt�.f��r,(�rs.?'.'t 1ti,+`S��s'i�-F,Q fh,!Y•r.b`;:`�.is if. .t e a it d t c 1..t?.k`,,-t r aztr i'r v;ast r Er t s+1,W F y t°.}+?��`Yt.l.i4 s).p Xij''.t S y y j r C�Z+S tft yi{s{5"L i"At"'t'"�d�ri S�„�"i�t•tt�.9 X>t4,3t 1 h t'+�t 1i[L-2'at'1;t�`F2r1.�F;,+'"tls.H,^''4r{Ji,.Gtt f g,;='2!r r t#,'�dpry rr?1 i?"S t,^S±(�"!yr`i,�p +#, y� {Li r �rip,s� �rrrJ4}f?,r tr4rl2r�+.ro yt J�4 .S,F3'`°{a�?�•k�Y�ttk' s` f[.a rr.t�`�t r, se yr xt„�y �1y.1T-'+ r i�} V7i�#� •r }e A, i i. s � r;�i: }�� it rt F�! :� tP 3�ir}� ' �. � t'� •C'`�' s.y y F t } tai s ,z ?'” i. i itr.'.. r .+�a\ t t t..7 {;?�4:' 's; ��( .ix 'S t+r. �k^r,�'1 t4 7 � n•y5 j n. � 'hiCS t a r 1 4 r �y.t.. r .a "' �.�.5 Y �:Cr" r � ii'•v j, z f,t�f J' .� .x{-�+Jrrh� yi t"t�i t ti x.t. 4 ..5 r. ti t r� .is`rt ;`t Yr s s t..•' t.t .p' ,,�: r 41;As�fil r�F 11''L•sir'✓9M1„+�i , :•, `h q.',sit.pp .` "}°..}}in 9t?t r. ;.N'J; u:t �,f: + t 7 t+ t G a ..tr sy nF r' i ��Js �� S�st I•t +{ t4J� �.,.:? y' Ps;r hi� :ss�s>.,}�t Acc�f'�}` 21^�• {-;F,•!�•':? 7 t a :t: a.td`i1 t a ,+; + .f' rf. Ft VW gil 01- .''x '+rr�ti ryt1, t3� k .t f f '�.3 •' �,ei{��.�Ii':��f•S': s° .' „” . ts• rs ..r a }S iL:I r.'4r�r�' 'yo-3"t:,t 1 .;'t+`t� ';j•-�nr r r r s .f = �.' sr t k,i p' t � y try . r Yaiwi+r" gip. ,''F a. •4 .. P .. .. .. '+.,, d. z'v�f'��: r.+`A�:'->fi?I�r4 ;�r v`n ' .. t t.^ .�� ., F ., rt yt y, sa Z:: .i• fit;n { i , 3. } , t., , ,• t' i<a y'. t �'.isly� p ^+ ,. C �'Fa� t rfi E1` :x. ,fit r': t t ' � '•-r..�'.� i}t�� F 0 s S �XsJ 4��'ff`t�i"4�tC4 " T'ti"C� �t,.t`� �iA._•� wEZ<ta,. ! reason of such action, except _ mJ incur in or by ' • which it may adjudicate to have resulted from its liability which is adj n a£ any action so t reason lful misconduct by �.a� ��a'•r ml '.". negligence or wil taken. Fees Char es and Ex enses of the Section 1002 . " services Trustee. The Trustee shall be entitled to payment of and/or + y' re m��bursement for reasonable fees aoenttand counsel fees and made Or rendered hereunder and all advances, and necessarily R' other ordinary expenses reasonably the Trustee in connection with such ordinary hJ ,f f incurred by necessary � � .. '. vices and, in the event that it should become all be it services services,.; , '' r the Trustee perform extraordinary ;: <„ t O necessary extraordinary entitled to reasonable reason candensation therefor and such -:��--'-;•r,'.=t,; �-. k'. reimbursement for reas rovided that if connection therewith; p • expenses in � occasioned ex a expenses are k: services or extraordinary it shall not bes,,. rl+.rr extraordinary f Trustee h or misconduct o the The r by the neglect therefor . compensation or reimbursement :,<•,�� ,Y:•r; >, entitled to and reimbursement for the .,.,.,J; to a ment Agent for t. Trustee shall be entitled P Ys;�tr= ,,,,,, reasonable fees and charges of the Trustee as Paying g ."ltz�t'. s .v;. the Bonds . Pursuant to the provisions of Sections o he Trustee all has agreed to pay '� �`• ` the Companyti .,, of the Lease, the Trustee under this ' ? 4' charges and expenses of st: fees, r=• agrees that the issuer shall have no ., Indenture. The Trustee acharges and expenses of the Trustee,he 'x ' liability for any fees' to the Company �• and the Trustee agrees to look only a ment of all fees, charges and expenses of the Trustee the p Y Agents as provided in the Lease. any Paying its continuance, z+. occurrence of an Event of Def ault and during ent prior to if any, Or k ;;. the Trustee shall have a lien with right premium, rincipal of, P <<; pa on account Of p in its possession (except :c Bond, upon all moneys in on any provisions hereof for the foregoing the Rebate Fund) under any p V" advances, fees, costs and expenses incurred. '. Notice to Bondowners if Default n > , Section 1003. Occurs . if a default occurs Of whticetor if notice of default ` ° 1001 h hereof required to take no then the Trustee shall } y4.._z,.,�, .:, .,7 ]-Je given as provided in said Section, give written notice thereof to the last known Owners of a as shown by the bond registration books =; < Bonds then Outstanding, the Trustee and kept at the t required to be maintained by 4,. principal office of the Trustee. by the Trustee. In any Section 1004. Intervention arty and which, proceeding to which the Issuer is a p judicial p ' s n the opinion of the Trustee an f owners o£counsel, Bonds, substantial bearing on the interests o the Trustee may intervene on behalf of Bondowners and shall do requested in writing by the Owners of least 25% of the so if q h._a• . aggregate principal amount of Bonds then outstanding . ; y 3: -51- Y n t t YY •r p[� F 4 iJuaf}`kt�s1 �•{' t r k3 ' a� r ✓ avN,?,6''t 1ti°L i St.;g{�'v�t 'St it.T s'ir, t tr, :1 >l C ; 7rt FF1X,.'.�F� tXL yth'2 t;� -k..%F`t. �ytry'��, "J.,��.tA �' ��:1 t.Jte,.xn {�t.Yt..e., t,,�+t> n, .7' ti �1r' v ' :ak i,:!``�;, a f,GlSy`4/}st��flSF�f S,}�}st.�',�rtF° ,} 4 k•!g ..t�r ,t Gr.,q�( is5 ��,.Jd,pf� a��< ,'S,�(ti• �G. i.' ',ai� '�j j��.t t' r 't�. .�. S!•` iy ! j � i tY�t-'i.yat4 rGfS'.{e.rcq V"d Y i . s t{ = jA-t .s s t.l r . i i itr i viz'•et f{ .: t �:r F � �!%:"n[i�x �} t�• a 'ups l y d �.� i k i + - l . .s. t + ...t ,� (t 1�` ', z ' l.t.'.r N n'.:[ ., pa • :.e .,%f3 _ rfs .,_, ,i� �, 'n . Section 1005 . Successor Trustee Upon Merger,q Consoli- dation or Sale. Any corporation or association into which the s4 ' Trustee may be merged or converted or with or into which it may T •� be consolidated, or to which it may sell or transfer its corporate trust business and assets as a whole or substantially Y as a whole, or any corporation or association resulting from any merger. , conversion, sale, consolidation or transfer to which it is a party, shall be and become successor Trustee hereunder and shall be vested with all the trusts, powers, fe, rights, obligations, duties, remedies, immunities and hereunder as was its " privileges predecessor, without the execution or filing of any instrument or any further act on the part of any of the parties hereto. 2 ' � a�•:f ; Section t on 1006 . Resignation of Trustee The Trustee = '_` t„ and an successor Trustee may at an time resign from the Y Y Y 9 trusts hereby created by giving 30 days ' written notice to the Issuer, the Company and the Bondowners, and such resignation ,i:yqf, � shall take effect at the end of such 30 days, or upon the earlier appointment of a successor Trustee by the Bondowners or ;, � t•. by the Issuer in accordance with Section 1008 hereof ; provided, ,tis however, that in no event shall the resignation of a Trustee orb" successor trustee become effective until such time as a tE4 successor trustee has been a p appointed and has accepted the appointment . Section 1007. Removal of Trustee. The Trustee may be Y y removed at any time by an instrument or concurrent instruments in writing delivered to the Trustee, the Issuer and the Company and signed by the Owners of 50% in aggregate principal amount r of Bonds then Outstanding . Section 1008 . Appointment of Successor Trustee. In case the Trustee hereunder shall resign or be removed, or shall otherwise become incapable of acting hereunder, or in case it shall be taken under the control of any public officer or officers or of a receiver appointed by a court, a successor Trustee may be appointed by the Owners of 50% in aggregate principal amount of Bonds then Outstanding, by an instrument or concurrent instruments in writing; provided, nevertheless, that in case of such vacancy, the Issuer, by an instrument executed :► and signed by its Mayor and attested by its City Clerk under its seal, may appoint a temporary Trustee to fill such vacancy until a successor Trustee shall be appointed by the Bondowners in the manner above provided; and any such temporary Trustee so appointed by the Issuer shall immediately and without further acts be superseded by the successor Trustee so appointed by such Bondowners . Every such Trustee appointed pursuant to the provisions of this Section shall be a trust company or bank in good standing and qualified to accept such trust having a reported capital and surplus of not less than $10, 000,000. -52- toy"y4Zi3'T`', f}4,V 7St �'£tiuyt t, + c'�. 1;� ''�rri` v.t S 1 p r1ik;�t 4s ft t �t'.= t • � s�-£Q a 14 t�C`Y s _� �" > F ta •i :r �� t td ±r � + .r �, .i c ! t r�a ! � ,d �`ct,,. au•L se � Yht? rt�� 5+ s.tiErr .s tikt t 7 r+, 4 ;J rab7 t 4 k tr f ? 4. r t t b,,.�?` tz f F r r.. TSa y�, , f. f t H, t1 r,:i tF t I }tzz 14€ '.. �C t� v�`a. '�1(#�� r yh "�rr+.,• a � .,y �• ir.H�riF4a, txt. 17�t ,to 4 �4'S, r c 9 1�1' } -r 4 4?# 7 s y..'., t 1i.?'^S zh �i+1 1 ',,##xrs�s4 +t'{ ��x. 4'�' x j. .fC' :'4'f} E`irft•;�; r :$ fy,;� u� ,z..+" z} ' .akt.`c e. t6 +' `�'` ! .L. ' � z .n"�` ,(d•Lar,��c4Ti�'# za. x ,. s, f. Y� a �/r• �. r) �� k:��t�r,i�l�. r;.t ,7 r xfir .�.c' 6t.r�'x it l•.gr[.� i'tr°f��. �i �..5+ F.( YUa� i.7, � �f s•..:' .`�.a �+ ti i. liy 1'y'^'S}�`� + +yit'•qP�',E:�ih x ��i er t t 11! N11:1111,1111 11111 Ri s r.,.'t k.Lxww+wiufi+mar+ayr.:ud.�'t!w 1 �' c.i�,i��t'd�j�rs�7yr!o''f�kfk�„`.Sr,,� ,�n'T}eSr,{i nrea•ry:Tr.,r«l.r.;'iG:.ar' . .. t°w29 "x `" Section 1009 . Vesting of Trusts in Successor} r - Trustee. Every successor Trustee appointed hereunder shall ,. execute, acknowledge and deliver to its predecessor and also to g the Issuer and the Company an instrument in writing accepting such appointment hereunder, and thereupon such successor shall, , t u5 without an further act, deed or conveyance, become fully Y Y Y vested with all the trusts , powers , rights, obligations, v .; . 1t duties, remedies, immunities and privileges of its predecessor; but such predecessor shall , nevertheless, on the written > r request of the Issuer, execute and deliver an instrument ' , a transferring to such successor Trustee all the trusts, powers, k.;a„ rights, obligations, duties, remedies, immunities and privileges of such predecessor hereunder; and every predecessor Trustee shall deliver all securities and moneys held by it asst .% , Trustee hereunder to its successor. Should any instrument in �hyD,i r writing from the Issuer be required by any successor Trustee for more fully and certainly vesting in such successor the ` trusts, powers, rights, obligations, duties, remedies, „SS{� privileges hereby vested in the f,. immunities and g predecessor, any and all such instruments in writing shall , on request, be executed, acknowledged and delivered by the Issuer. Section 1010. Right of Trustee to Pay Taxes and Other Charges . In case any tax, assessment or governmental or other charge upon (which shall include rebatable arbitrage) , or insurance premium with respect to, any part of the Project is not aid as required herein or in the Lease, ^ ” P q the Trustee may r pay such tax, assessment or governmental charge or insurance premium, without prejudice, however , to any rights of the .. Trustee or the Bondowners hereunder arising in consequence of such failure; and any amount at any time so paid under this t" . '. Section, with interest thereon from the date of payment at a '' . rate of 10% per annum shall become an additional obligation secured by this Indenture, and the same shall be given a preference in payment over any payment of ' principal of, b, premium, if any, or interest on the Bonds, and shall be paid §r , out of the proceeds of rents, revenues and receipts collected `' from the Project, if not otherwise caused to be paid; but the Trustee shall be under no obligation to make any such payment unless it shall have been requested to do so by the Owners of 7 at least 25% of the aggregate principal amount of Bonds then Outstanding and shall have been provided adequate funds for the L: purpose of such payment. Y.L tit .o Section 1011. Trust Estate May Be Vested in Co- trustee. (a) It is the purpose of this Indenture that there shall be no violation of any law of any jurisdiction (including : particularly the State of Missouri) denying or restricting the right of banking corporations or associations or trust companies to transact business as trustee in such AWL jurisdiction. It is recognized that in case of litigation ' under this Indenture or the Lease, and in particular in case of f -53- ` i€; •= '�j dD r s ,,, ,r t 'i" .a n 'ti ti �' t o i x < +. x^r sx�(`rj * t ' .z` h j �i r 3 1 i t 'kf it { j.rftt,zz, �- 5}' yaJ1 }- � t�r4 Ak,,FSk t<�:t.r . s r t t { .tt , .:.� f I._ Y j. 'i0 i'rri.t"�� „_ ,: fi•.xu s;i � FFr S-li •ry..t� "S �, a�' s N .:"i t' t rrt 2i+�+. M'`' �� t� r « 't 4 4e S r`ry Fj 3>i t �'?"'• � t=.�y�:, ��y. f a��`r it+�� r,�. t� Ft c°1t `i tv t S t 4.r� i€ X+'{� t�,.tt i tax t r f� fi• ±'t 7.A ..4y t�`at{ °r�.""�,,�,tit}t.+,+,fF•��i�'�i��"�. .r� i; �.r:.^(p.` �` F�"T �.y L. .t`: �'tnt'f 'r { }p"' B..�i'??�� C.::?ur& a inl�.,�"•;,?'..n�+zT:7. �:tw,;• �'zLx.I�t.,s:1.:. ,�r�',�a?,+pct'{:d.�"tk�.>.3....'�b:�. `�c"Y.. .<tr, the enforcement of either on default, or in case the Trusteef".• y deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers , rights orwh 1:191 r >>, k remedies herein granted to the Trustee, car take any otherF� ;, T 4 t. ..., s.-.> _,•_ action which may be desirable or necessary in connection .. therewith, it may be necessary or desirable that the Trustee ` appoint an additional individual or institution as a co-trustee or separate trustee, and the Trustee is hereby authorized to appoint such co-trustee or separate trustee. (b) In the event that the Trustee appoints an s : additional individual or institution as a co-trustee or separate trustee, each and every remedy, power, right, claim, to demand, cause of action, immunity, title, interest and lien ! . expressed or intended by this Indenture to be exercised by thes=: Trustee with respect thereto shall be exercisable by such4rnas co-trustee or separate trustee but only to the extent necessary >=. to enable such co-trustee or separate trustee to exercise such #a. 4X powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by such co-trustee or separate trustee shall run to and be enforceable by either of them. a�rxk�4t4'4r<��( (c) Should any deed, conveyance or instrument inr : c t �r writing from the Issuer be required by the co-trustee or y : separate trustee so appointed by the Trustee for more fully and w . certainly vesting in and confirming to him or it such =• properties, rights, powers, trusts, duties and obligations, any and all such deeds , conveyances and instruments in writing c shall, on request, be executed, acknowledged and delivered by r; the Issuer. ^ .2 (d) In case any co-trustee or separate trustee shall die, become incapable of acting, resign or be removed, all the ; properties, rights , powers, trusts, duties and obligations of such co-trustee or separate trustee, so far as permitted by law, shall vest in and be exercised by the Trustee until the appointment of a successor to such co-trustee or separate trustee. .4; Section 1012 . Annual Accounting_. The Trustee shall render at least annually an accounting to the Issuer, the Company and to any Bondowner requesting the same, showing in reasonable detail all financial transactions relating to the Trust Estate during the accounting period and the balance in ` any funds or accounts created by this Indenture as of the *� beginning and close of such accounting period. i' Section 1013 . Performance_ of Duties under the Lease } and Guaranty Agreement. The Trustee hereby accepts and agrees t to perform all duties and obligations assigned to it under the ?.; Lease and the Guaranty Agreement . -54- 1. 4c ' t.{.�t � ��ttX y .. }i} . 1 ;5�ri ti 5t{ i j �L•x t V f�{�S.is.{ti Rja i y?{, "}�r.L.r}' ti q ' 7'`i JJS(.5� t. 4.e'7E ,s7 i 1t n"Ta `it• :a'.v t .� 's a`.t { r t>< r r rr9t 4 FI£'y nr �Stt53.�.i'g'." +'pi's t S ;} '.3J'•r. .,�•. r Si'V �!' '>a... �,s - r t; �'ta. +. L.e } vrh rid ' •yt .,_t yE t a xi lr ��°xa 4 � tT�!,,fi !S.�f�,..1:)1r5..';t{5 g� w� q..:l'"kf, i .t t S b l r y. p_ r•f {. x'L r� pt.2t ,� ,A°t!� +t ,,a ,sh;;l��' f + u.. .,�� 3 `,y,5 t7r'•'i"Nwt`tP tf'c,t "i.2t rl.t t'4iry'Lr� r �- .+r � .'ii., e ,}f + 3.! ` �S. rY} kt f j`+ "ft't^Yf,.4.' i°• 4, Ct ;W rS � t `�f y^'''m t � r k,, B `i k•! ( t. 1 iG.}':} '�R ppPi y Y i �? j ti� , '.. I+. tri.S s4;;I4 S7�K+,x ft �� ! }:.t .i .fti.. tt tF r Y !t. J ll'i 7k YL,xn�it} r f'J �) �r ..'�i# 4 Y,' 1 r�S�N, it '. •t r te•.}, ~ij.. �x+c<+'��,:�' L d}! "n ,� � .;{ rr t ;1{: � )} t ',i - '1 J� 9 t. � ' �{y% as?a'' Y r+�r dA 1.at�ttt', O A` �i t t^ �;5. '1U't r}'r. k+¢.'^n'ii.;.Jy� , 15 2 ! `;3• .t '!' +,�.t�t 7S t' 7 1 a .1 i k + r rS'�L(..fjt�wl• ! .S&;..?fy,. �i{1�4{;:,*rr' t$,,,'y'r�,��a i..tt.4Y* 'tc��'{r y`° 7 l:1rk`� i r I�• r t #. afy r�:2.t `t• t" ..��`w t. ' ;i`��.t"'t. W:t..S �ir.s.�yii:;a ': 'i;� ? y.�' t r r . .1,.J ;/ r.+ + r :��.t �.I .Ft, +. d"n:.{.r,,d•ti.{,. �r�c 0 'ts', t...u•+'+` �' •'-�•..Ut�' � �#, fr�g �lr i.� f r .r�c..Y•f .t tr .i 7C r. 91S :th t .1i, <�`.,1�:':3i s"'it��"„11sFi.�'Y'i! k. J_.=3 '� ,. ,c� rYs�t k r ,{� ;r`l. i d ,n., .:s , '• ,;, 'JR 4 "'Sh��t if f;r,�lt`�t:<}�.1��.f �1 '�� t �4�' t .yxJ} y4t%�?x�'�k ter:TY�',k�.�rA .,�'., ;:-� . .. . �• j '.r''�,P1 `r ARTICLE XI r SUPPLEMENTAL INDENTURES Section 1101. Supplemental Indentures Not Requiring Consent of Bondowners . The Issuer and the Trustee may from time to time, without the consent of or notice to any of the Y„ Bondowners , enter into such Supplemental Indenture or p Supplemental Indentures as shall not be inconsistent with the terms and provisions hereof, for any one or more of the following purposes: Y (a) To cure any ambiguity or formal defect or Syr omission in this Indenture or make any other change + not prejudicial to the Bondowners; +!E t S (b) To grant to or confer upon the Trustee for the benefit of the Bondowners any additional rights, remedies, powers or authority that may lawfully be granted to or conferred upon the Bondowners or the a, Trustee or either of them; • (c) To more precisely identify the Project or to Y substitute or add additional property thereto; (d) To subject to this Indenture additional revenues, properties or collateral; and (e) To issue Additional Bonds as provided in Sections 209 hereof. Section 1102. Supplemental Indentures Requiring Con- sent of Bondowners . (a) Exclusive of Supplemental Indentures covered by Section 1101 hereof and subject to the terms and provisions contained in this Section, and not otherwise, the Owners of not less than 50% in aggregate principal amount of the Bonds then Outstanding shall have the right, from time to time, anything contained in this Indenture to the contrary notwithstanding, to consent to and approve the execution by the Issuer and the Trustee of such other Supplemental Indenture or Supplemental Indentures as shall be deemed necessary and desirable by the Issuer for the purpose of modifying, amending, adding to or rescinding, in any particular, any of the terms or provisions contained in this Indenture or in any Supplemental Indenture; provided, however, that nothing in this Section contained shall permit or be construed as permitting (1) an extension of the maturity of the principal of or the interest on any Bond issued hereunder, or (2) a reduction in the principal amount of any Bond or the rate of interest thereon, or (3) a privilege or priority of any Bond or Bonds over any other Bond or Bonds, or -55- , . 2}a'� 'a >y, 1 '�, kk r '.�i'4 iz'y'�,3t� c tt'tt'�'��,'�f�`¢ F•�1�L'��r?3u.'�it`g�..`rF.t'�^4xU.et] rJ:i t�n t"'' 't�1.�F�ly� }n,',I �i� ?.,� ,{.a��,�!?t;p .�1 . .ikzeri4>tYfS `HIurSe1Y¢UCSJ6 . t3t4tf.Y`'a'•°' ,....,K.! FLAY }h(tM jFg $ & t '{ Y"G `v,I_rt.4 dt3At:'14✓'1...s�(w�i.a.. 4' ?y J, +t. (9) a reduction in the a ggregate principal amount of Bonds the Owners Of which are required for consent to any such Supplemental Indenture. (b) If at any time the Issuer shall request the Trustee to enter into any such Supplemental 'Indenture f ` of the for any ;•fir of the purposes of this Section, the Trustee shall cause notice ti proposed execution of such Supplemental Indenture to be mailed to each Bondowner as shown on the bond registration books required to be maintained by the Trustee. Such notice shall briefly set forth the nature of the proposed Supplemental Indenture and shall state that copies thereof are on file at the principal. corporate trust office of the Trustee for inspection by all Bondowners. If within 60 days or such longer period as may be prescribed by the Issuer following the mailin '� Fs of such notice, the Owners of not less than 50% in aggregate ' ggregate principal amount of the Bonds Outstanding at the time of they+ z° execution of any such Supplemental Indenture shall have consented to and approved the execution thereof as herein provided, no Owner of any Bond shall have any right to object W r to any of the terms and provisions contained therein the or ��,;�s:t,�;�,•J.,'. operation thereof, or La any manner to question the ro riet .':. of the execution thereof, or to enjoin or restrain the Trustee3;' 'i'. >, or the Issuer from executing the same or from s ' taking any actionkin pursuant to the provisions thereof , �°7 t. �. n:!K4 Section 1103 . Companv' s Consent to Supplemental �r s° Indentures . Anything herein to the contrary notwithstanding, a Supplemental Indenture under this Article which affects any rights of the Company shall not become effective unless and i+>: tad until the Company shall have consented in writing to the execution and delivery of such Supplemental Indenture t' that receipt by the Trustee of a Supplemental Provided the Company in connection with the issuance a of Additional tBonds under Section 209 hereof shall be deemed to be the consent *T ~ o f the Company to the execution of a Supplemental Indenture pursuant to Section 209 hereof. In this regard, the Trustee shall cause notice of the any such Supplemental Indenture (other execution and delivery of Indenture proposed to be e,xecutedand Supplemental P t o delivered Pursuant to Section 209 hereof) together with a copy of the proposed Supplemental Indenture to be mailed to the Company at least 15 days prior to the proposed date of execution and delivery of any such Supplemental Indenture. ARTICLE XII LEASE AMENDMENTS Section 1201. Lease Amendments Not Requiring Consent of Bondowners. The Issuer and the Trustee shall, without the consent of or notice to the Bondowners, consent to any amendment, change or modification of the Lease as may be r -56- ' r i a}t t} '.r< tG"`�i''!'x a... a' •sw. 5 s A.� � h *�s '1<+fir r,��..'k r� ti ?+i: tJk {.r. f r i' �')}r+ f z ri.t} rE t r�'?� '�� .x 7r4{eft t ;1„,z*'�{tr '�•Y�"r t 7 .� F« ,r•`-�m'�„�-'V"� t I{} fl r y. ."",,..,-+a+. t Eprp.kl� ,�j ,tl. F !� s t.'�ii' }7xn� r . t ,t yr�,'{ ,>�`� c SAS..3'��"r�t r 3)s^ s,�d .y�� 7 �a{.{ tYr },; t ' � r t� s•• �0 r�°e,� � �,. e4s£„p��,,�? ,. �{ k�t ,g�`r. .' s�'•'kP sd.i7��4 ..,a, r ]; Lfir,rtr f iP arfy 3i�,Syy$'y �y r��i�.}rr]a6 ys , r,.r'ce`}�� x`CiE sY'Jk'�.r �.'F*� . ..J't- h. ii Jt t? a Y }ra vr. ,r J' � "b !+':�S>3 {"`ti yea ,r• .{.��1��e[at''X ?> .sc5 u�t A}: ..i:4+. j t t t � 5 'k ,J�_ 4f n fn -p 3,F�r'i"z�;�r.;t, •Yrd rrs' .6�4 `»��`��e r s�fti'_t tt,jr�hr x z J yi T 1 t...4 A t r J: r t4: ri J,. h tFl.•�r: i r �! t tti 1 t4 4" Mfr.r� RT Ctir.txqi,i to ft�{ '.%' i�,. 3�' 'r d ,x). J� s { , (, S''jl, t S tYK9y •i*„;. Ar' .r2�� 7'.tF` 1'lo-i�7a ,�'*CIdY}da a � z � 1 1. 1*C' '' �r.” i it' star:. 7 1 r r .�i [7 ' 1,'�? y,, 3 � #�f ' ':r t�"� �}.ti ic'yi7 t t !Y yh �f { .r`• 1a` S,t 'x7}'3 ^' r J r �'Y f,-3 .fir' yr • S`a' «.� .:•:Wtjj. ysa ..+-'',..'!'"'i .tiYS•'rj Y � a$�•'frt k t i}' .,r Fr"^4r + - tYl r t r ry ., .ry.. F,.t := 'r . r. ft -0{. ..r 1 .•.i. .i .{ fi ,r.s;, r',;J .th l''"'ii .r.•Cy +• �. .ifr tal'' '77Y4"r i,Nv${'•fs _ q.iT +T ...A`�.�s ,�} �Y',a 4..t.s h :r)1 .. . . •r ., t . �4.s;.��;r�.,. � required (i) by the provisions of the Lease or this Indenture, (ii) for the purpose of curing any ambiguity or formal defect or omission in the Lease or in connection with any other change therein which, in the judgment of the Trustee, is not to the e G prejudice of the Trustee or the Bondowners, (iii) so as to more {, j, precisely identify the Project or substitute or add additional property thereto, or (iv) in connection with the issuance of Additional Bonds under Section 209 . Section 1202 . Lease Amendments Requiring Consent of Bondowners . Except for the amendments, change or modifica- tions as provided for in Section 1201 hereof, neither the Issuer nor the Trustee shall consent to any other amendment, ' change or modification of the Lease without the giving of ` notice and the obtaining of the written approval or consent of the Owners of not less than 50% in aggregate principal amount ,. of the Bonds at the time Outstanding given and obtained as FFr provided in Section 1102 hereof . If at any time the Issuer and the Company shall. request the consent of the Trustee to any such proposed amendment, change or modification of the Lease, the Trustee shall cause notice of such proposed amendment, . . change or modification to be given in the same manner as t provided in Section 1102 hereof with respect to Supplemental Indentures . Such notice shall briefly set forth the nature of s4 such proposed amendment, change or modification and shall state " that copies of the same are on file at the principal office of the Trustee for inspection by all Bondowners . ,a ;r ARTICLE XIII SATISFACTION AND DISCHARGE OF INDENTURE Section 1301. Satisfaction and Discharge of the Indenture. (a) When the principal of, premium, if any, and interest on all the Bonds shall have been paid in accordance ; with their terms or provision has been made for such payment, as provided in Section 1302 hereof , and provision shall also be made for paying all other sums payable hereunder and under the Lease, including the fees and expenses of the Trustee and the Paying Agents to the date of retirement of the Bonds and the rebate of rebatable arbitrage to the United States as required by this Indenture, then the right, title and interest of the Trustee in respect hereof shall thereupon cease, determine and be void, and thereupon the Trustee shall cancel, discharge and release this Indenture and shall execute, acknowledge and deliver to the Issuer such instruments of satisfaction and discharge or release as shall be requisite to evidence such release and the satisfaction and discharge of this Indenture, and shall assign and deliver to the Issuer any property at the time subject to this Indenture which may then be in its possession, except amounts in the Bond Fund required to be paid -57- I" ,.� 3,�•",L>{t.. .+kF�to F its ��`��` .� "tiS t,,."L^'1�+w 4V{7 ��.p ^t 6 �A7 e�4 i � R� & �• 7"rik ?�i11 re+{� Tl. lfk l.iY'y�y/r5�i?��Sry�ig�,#t��j��.j k' t t sr�SC't r. i3 .Firs i " t ro t. F)" l r FA yn f ({ j n ;±r t rye C. ��•.�( � r A +k t� { i�+.,,. r Mit 'lr. 'sr t t .`1' ;.�4 ,yM`x�s,�� d�S",v -� ) •a':(<' vetl f>Y �� tlir' 'tjal i�{��t ii lr l. e e �Xt.fN? .'"V > i'= :s Pl'� +s ry {1 r.i't tt c..� A 5 �, fit. _ �� ,"i � 1 r 3 Y' . �� i ur d' tF t' Shy:� h w.° r t. 91 .ty 'r` } "::1�t t i � .7 :ft �� y'z t��'�' �• t: fc 3 y a ��{ .ttt �1(�-'�j+ y{ i n .try y �,��u �f�. .c t 2 tiU f..r i ..r,�' rr. •... xi 1 4 {1..��,y�f 3. "� r• NN. i, ...it a. +, l d! .r v tx. ;�'; 1. ¢f4{lot ' "t 4 rA. i k PoT •, r:+" 'T yr �tr{t'i8� A^ : ; f � r k rtr [ t- fTa ..nH.....4 .Yr. :. xt. ft41SYYOAx k' �+� J4a to the Company under Section 606 hereof and except funds or s. securities in which such funds are invested and held by the Trustee for the payment of the principal of, premium, if any, and interest on the Bonds . FY (b) The Issuer is hereby authorized to accept a certificate by the Trustee that the whole amount of the '' • 1 premium, if any, and interest so due and payable principal, p , upon all of the Bonds then outstanding has been paid or such payment provided for in accordance with Section 1302 hereof as evidence of satisfaction of this Indenture, and upon receipt k thereof the Issuer shall cancel and erase the inscription of this Indenture from its records . a�, t Bonds Deemed to Be Paid. Section 1302 . ' the (a) Bonds shall be deemed to be paid within , h .0 meaning of this Article when payment of the principal of and3� t �r the applicable premium, if any, on such Bonds , plus interest OR,., V thereon to the due date thereof (whether such due date be by reason of maturity or upon redemption as provided in this x Indenture, or otherwise) , either (i) shall have been made ori <5 caused to be made in accordance with the terms thereof, or (ii) shall have been provided for by depositing with the Trustee, in trust and irrevocably setting aside exclusively for such payment, (1) moneys sufficient to make such payment or (2) Government Securities maturing as to principal and interest in such amount and at such times as will insure the availability of sufficient moneys to make such payment. At such time as a Bond shall be deemed to be paid hereunder, as aforesaid, it shall no longer be secured b�he r entitled of to any such payment this Indenture, except for purposes from such moneys or Government Securities . (b) Notwithstanding the foregoing, in the case of Bonds which by their terms may be redeemed prior to the stated maturities thereof , no deposit under clause (ii) of the immediately preceding paragraph shall be deemed a payment of such Bonds as aforesaid until, as to all such Bonds which are to be redeemed prior to their respective stated maturities, proper notice of such redemption shall have been given in accordance with Article III of this Indenture or irrevocable ;i instructions shall have been given to the Trustee to give such notice. (c) Notwithstanding any provision of any other Section of this Indenture which may be contrary to the `. provisions of this Section, all moneys or Government Securities set aside and held in trust pursuant to the provisions of this ,1b Section for the payment of Bonds (including premium thereon, if '. any) and interest thereon shall be applied to and used solely for the payment of the particular Bonds (including premium AMk -58- �# .s� .7t%y,'Y"','^'�"Ri:,.. fi�a .{ r a +r {'1 r�i,i�'+,y it 4 i +ts i- 4. :,+. (- _t. rtr . z r9'� srf, r Y7iu�6L.s 0 T.a E i�`i ,,f,,`rr•t t� '1 j1 $' a tE' �� , J3 •r E �.f I' 1 •+ t :,c 1 P 'xt E •�, `} -. �C �� 'n {`~n � � i �t{*' Sy1��r"7,.n1�,'.f ' ;, ', h r)t �.v F t ,ti s a i, � ,:u "�, ./ G. r f•�t{ �r .✓ #;trig r�'�'afr�� k . y� ;, �7��a5' Ypo:w�*3r f f�i'#' .'�`n��',{`^ r,53 t +. r� w. } T`+ r z. i r t •' 'Er:�ti'�yt °t.�[tSi.f.7�Sr�p^t�y��r� .t' ' ,�. i} •fir*' � l d �, y,,. !'1 'M l {gyp x? yyrr A. 1 ' r `{' .�{�•�,.a �t 1v*.5.�',at2 1 a¢ t. E�� . tt" Et} {:. r .r4 "#� �' "E `rY� a �Kf.t�. � z i` i t, �• „�.t;s`ti,i L+�•rt are tiJ.t >t r i(;t w i.t �.t� %n�#t .r ('.tf `,� , w. f .� ..� t f}�:�Y��'NCir".2rf,a�•f�T�[fG,tx,rJl.:�t''Y `t 0.t}''-.r f y1 s y�, i 'ti. Fay,'.�t 12ri i y .,,�.}t�)D.t� xJ f dt d�sY '+r5'�'� h'i� � F 'T ,£ c�;f� °�� t��.W.Yf��,;�'�1{ J.�'4�?.S tl�u"t 57�' ��'� r }�:t}y E ';t•, � f f i s.,, t ,an�t j �y�5 k� '�? l k r-'h•',�'[...�>� ��rrl`+,+q.��.} JZ�:' ,� -+ t. 7.r'"r".� � p •!,y .s�� t �'t ro r + . t°C�. �:,� "��.> + f r .ai+"Y k �.'xi1" fi� t. 1}' y- .,� v��t"ti: } a t �,,�rn!} s# c� -=Y� t},Fx`t s S t.; r ?;ry ,•y a S E + � �,t � t °. #y„'�}�'kX iF1`.. ',z � �`� � :.<p} t.�t�K.4£'}+� �''�( �a v3tq E �Y' r r t,,� } J+ 't>;4Ytrt � �{ ,2 .,�.� , c•.��r �i s'.. �: r rt 71Y $s} 1� : I f�!'�Fi.�x'.kb}rR3J � .,� � �, a >t; r. it �'N3i'"'•e.�, :y, ��'�'.x�'.�k4{ 'f � .'�! Y PF rf F 'n, thereon, if any) and interest thereon with respect to which sky such i moneys and Government Securities have been so set aside in + k: +_ trust • :l ARTICLE XIV n' Y• h? h r MISCELLANEOUS PROVISIONS Section 1401 . Consents and Other Instruments by Bond- owners . ` (a) Any consent, request, direction, approval, objection or other instrument required by this Indenture to be ,;. signed and executed by the Bondowners may be in any number of concurrent writings of similar tenor and may be signed or �i �,;r, � 1 p appointed in executed b * such Bondowners in person or by agent a $- •� • '. writing. Proof of the execution of any such instrument or of ; � . the writing appointing any such agent and of the ownership of 3 Bonds, if made in the following manner, shall be sufficient for any of the purposes of this Indenture, and shall be conclusive 'A in favor of the Trustee with regard to any action taken, ; suffered or omitted under any such instrument, namely: (1) The fact and date of the execution by any person of any such instrument may be proved by the certificate of any officer in any jurisdiction who by 's law has power to take acknowledgments within such jurisdiction that the g j person signing such instrument acknowledged before him the execution thereof. , or by ' affidavit of any witness to such execution. £ (2) The fact of ownership of Bonds and the amount or amounts, numbers and other identification of K such Bonds, and the date of holding the same shall be ° proved by the registration books of the Issuer maintained by the Trustee. (b) In determining whether the Owners of the requisite principal amount of Bonds Outstanding have given any request, demand, authorization, direction, notice, consent or waiver under this Indenture, Bonds owned by the Company or any affiliate of the Company shall be disregarded and deemed not to be Outstanding under this Indenture, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Bonds which the Trustee knows to be so owned shall be so disregarded. For purposes of this paragraph, the word "affiliate" means any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company; and for the purposes of this definition, "control" means the power to direct the management and policies of such person, directly or indirectly, whether through the ownership of voting securities, by contract -59- +(,�'�h � :? �x f t � s. .xy S rtrl'x �,,fxtr�`�'r't7 t r :fI $ (� V�,''• rl=;. ;•i:. �� 's � '�'.��xr� >��rp`f! °'SS 5 rr k��hrf�t nTRN�S`+�a,,, t� ��aJ•'tt`r�„�i f�,PF`t,�fi' ,�'YS r �'. nfi 9y7gj",. x F��i Xy 1 n i'7jPET; : P 4 ''��`:�'�;ut� i��z� ' •.^� 1r '' t�t,o�;ty r-`t ar Sn }��y#h{d ?``;R��•�' �r#�" Y � � �f�r ��r�{�i y �o�; f s + .3 �� sYFi��r2}�� }xa.: �:ts:a�;�.�� }t �,'*Mkt' t�i�.}7. �tf. glvet%1. ,�:e'r .x �j't.t{�R r ,rv•e t t: of'i 3f�it"il��f`�S1','��.;� �� tin �q ��t.�,-;'�',�;�{4 �s.#;i��'��.(al t +`', .a i,fyr t t,;sJ i a• + Fd .c'.ii s rr'+`Y, s pf t p t �'kw 5,.4 rr r t `! 7 r tis>}2 i s p x q uJ a+ lki ! i rs Yf� L bLX Y x Fiu +x c� '� �$ ! ��`` aF F + t° r .'JA rdt.l•� .� 0.rs t S.v f ':ft r td �° <FG.J2 f4Yr ,yfr, . t�;.;,i� t a .tY"'a�""..CC�[l�y�i yv x f+a t .� ,a i:a e;? c•t +. it t as,,�` , !r it e �.; } Y � /E� a '�" �N Y} , '� Y .., t s•==� f�� °fit' � .t '� z ! s 1 d'. 4 $h d h : 1. ,a c' ',.'7. r or otherwise. Notwithstanding the foregoing, Bonds so owned which have been pledged in good faith shall not be disregarded : r4 as aforesaid if the pledgee establishes to the satisfaction of the Trustee the pledgee ' s right so to act with respect, to such 3 Bonds and that the pledgee is not the Company or any affiliate rt:: of the Company. . Section 1402 . Limitation of Rights Under the Inden- ture. With the exception of rights herein expressly conferred, nothing expressed or mentioned in or to be implied from this ' Indenture or the Bonds is intended or shall be construed to -' give any person other than the parties hereto, and the Owners '; of the Bonds, any right, remedy or claim under or in respect to '.r L this Indenture, this Indenture and all of the covenants, ' conditions and provisions hereof being intended to be and being for the sole and exclusive benefit of the parties hereto and the Owners of the Bonds as herein provided. ' (} Section 1403 . Notices. Any notice, request, comp- 'I laint, demand or other communication required or desired to be J- given or filed under this Indenture shall be in writing and ? ,. shall be deemed duly given or filed if the same shall be duly ' 7r± mailed by registered or certified mail, postage prepaid, addressed as follows : (a) To the Issuer : " City of Jefferson, Missouri City Hall 320 East McCarty Street Jefferson City, Missouri 65101 Attention: Mayor (b) To the Trustee : The Central Trust Bank 238 Madison ' Box 779 Jefferson City, Missouri 65101 Attention: Corporate Trust Department (c) To the Company: + Scholastic Inc. 730 Broadway New York, New York 10003 Attention: Vice President & Chief Financial Officer (d) To the Guarantor: Scholastic Corporation 730 Broadway New York, New York 10003 Attention: Vice President & Chief Financial Officer -60- 'w `a �.� _ »Y�� " (t'�i+�tA`�"`�r �t\t�� '3f��.iy� ��`,�'•ki'�?�R'�,.'"L�� , �t �� ; �j r�`� �,n�`4 'i + �a x!y1 rir P�Y y4} ffiyn: } e 1 'ti��{X'w N��c a;'S'9,x,i t a'�t s'G^��t z�t�f,t'.r n A F r1 t ae qy'��rt�y i aE.�1+•t r^Ab;`iy'.'E�Yv'1�'d�s .�c r'' s t rxr n j F : , - r 4 t tl AS 4tiHtatX$:lrrtM:434FJlhl,i}f TGFl `>,R`>S..x�{ 'kt. v.` iS' '� i 7r++ �`.4 '0 t5 -1 {7 R�ixt.r41 ,rtR ' tj F qd5 hly' • (e) To the Bondowners if the same shall be duly ,. A = .TT mailed by registered re or certified mail addressed to each of the g� Owners of Bonds at the time Outstanding as shown by the bond registration books required by Section 206 hereof or the listrt�rt >w of Bondowners required by Section 212 hereof to be kept at the Y`X - principal corporate trust office of the Trustee. ( <. ` All notices given by certified or registered mail as aforesaid shall be deemed duly given as of the date they are so R !t mailed. A duplicate copy of each notice, certificate or other �. {,;; communication given hereunder b either the Issuer or the ,".' }R#; ' 9 Y �' �• ' Company to the other shall also be given to the Trustee. The u'W" Issuer , the Trustee and the Company may from time to time r 'ys r designate, by notice given hereunder to the others of such parties, such other address to which subsequent notices, a certificates or other communications shall be sent , }„�$��zt,;:�,<`.4 . f Section 1404 . _Suspension of Mail Service. If, '. ' 5w because of the temporary or - Y permanent suspension of regular mail service or for any other reason, it is impossible or impractical to mail any notice in the manner herein provided, then such notif ication in lieu thereof as shall be made with the approval of the Trustee shall constitute a sufficient ' ` `u= ; mailing of such notice. 3: Section 1405 . Severability. If any provision of this ` Indenture shall be held or deemed to be invalid, inoperative or unenforceable as applied in an ° PP y particular case in any jurisdiction or jurisdictions or in all �•' jurisdictions, or in 43 all cases because it conflicts with any other provision or provisions hereof or any constitution or statute or rule of ¢ , public policy, or for any other reason, such circumstances shall not have the effect of rendering the provision in question inoperative or unenforceable in any other case or circumstance, or of rendering any other provision or provisions herein contained invalid, inoperative or unenforceable to any ' extent whatever. Section 1406. Execution in Counterparts . This Indenture may be simultaneously executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument . Section 1407. Governing Law. This Indenture shall be { ' governed exclusively by and construed in accordance with the applicable laws of the State of Missouri . a }t "G .t -61- r SM, ..li 't. ^R-s++ -;.lSa rs'nw' ,m,► ,:r rs � r � � i r rK�j':ftL•�td ti$ �4 t t 1 � r ! ".'' ;r`s r -;., r i a tr ty .` °Y��"G`d!}'E arr^{� (. ' .1 f} .ri . SJtts �; 1 i ;1 M r t } etr z H7 ye_, . '�xt ?.i.!v (cif s t; ?tt t if)f ,,. t J t tHr�+,f i° f tji�;. Yr {i rt �� y`t�/+♦��t%.. :4Y. �yt. ., tJG ( 'n} �i s. .}{ t r. MAW „mar t ..,r tjt,f'tJtr�o4i�7 iTiY.. tk'{�� rrtrl"i% .;t.ti;.�. i 1 .F 1, t, t •,y. I ttA;a , t i} 1' �_I%� _ .✓ Flax is • ��° p � � — •• — — Syr.;: i t•`.' ��• Ali k�F i i� is i' z ar tt f 3ti a!1 \ !F'r;ti?{' '":Sri%; " i x• •.s. y?r'+.:yYz'�'..?�.ry �r .w.J' )V, ,'A ;.f.�...:r!. %',i�'�•7P•,.1.:..t>.yy's'.ct t.,..'a 5;„„y:,x y1-;„2..'f:;1;i±aa a.}l,.,3tf.I"4 eItl..tz�.il,�rg-,v•�J'y1'i.^�,2mv�+DSn ba F.,;i,�.�,\,..,.d f Q.,.4ly y'SF{•"as,t':.i:S\,. '1x'�^,c4'��4:.:�Xey1S;�:J.i''i.'ibs�S'#1!„wl ts c"}a r?^y�,'.',3.«,.'Y-.,S1•,,•d�.r',tt,,i'�,r,'`;s u?'r!.,e�.�N•.,,,5�re.tJ�r S Rtu;N •t s�k,t.,A�,•:'\i'ttus..�. : s ".t,rst .t� .x. '�' .,f „a� f. ,t.;N} ,ciS''.s':t, .g.• t}� s,tf;.'• 1p t;tom�,,,t:'�'+'x^iSi,,t. .,;:;• �t�}i•:<'.t,•y,. ,.3 F!.•;�>y`�;:«..34��: •.t`..Y e\7'�� ,r,., �. .t ..1 �i r;4 r :t1 4' tr�' ^�d Atiry 1�,.4';T rc:T,J+.�._,'�,:{...r� 1�ri cl• j. ss:w,' .iY.,, ,.r\•...F,.,°i`1._(-...+ .,�.k�.. ..y •1 %��pt }.: tt i' }{ :.P6'.Yr Y.r fi',,:4, 1't.E•„]( t•j{i;i`+�ot..'�R�N '}' •il i.FR.�.'�..$i ,' •4,f + ik .r”. "ti}'yC',�,1(,� ,y ,.Jn ,�Yf'•�A{I!f , hii'! `1.�,.\ F � r t �t ;\•, r1 c+�`'t iX -!,l '�.' >i','a:. ll{�.'Y; $'�4`�0`p{�. �r. ::riw�.t..a,$) �;•�tr;•, J 4;•.Ctr?,t .��«.rtt,'r 'r'ta�.• ',��P�t i 4. S. i.r oa t4. tys ,t.t�y ,93# +f' , ,.r ?--? .,•'t(..�tt. >r'i 7 a. .f "tin '!r'" i�r 1rt�,:c' r;FS",`�t 1✓ }R;.4',l.fr,J1,{., t .}(U.,:;S �: x rJ:, „r.. _ 1.f ..tr. lei.:.;l`'` -!• :v r•C''�'r .�'i �� ..{ .�'-�. ,t.-.#r,c! #1? ,3,;.r s,..,,F{.� .,t.. r'� .`!USX :,t,, t �. �t' ��,.t11.. •:ii:.;rep.gt.i IT �,� :y �'t :ctt2 .x., 1:vY: s: iY �,� ?t att.�,•'i:. Xa ii; ° 4u�5S s. S('. i.K,( ,q�� W,5..i,.f,,:;, �,. i � 3 I:r ,,tt,,}'t' ,.C'y:!'•i '�'#.\ r,:f,yt'• r,�Y,, y �I.;;,�j.,r,�� ,t S �. ,:}.�H itt�.'n-�;�2♦ �,r`.c:.:�t,' ,,,c: t Y td •.f 1 .'! r!'f' .s'. y. ';�. .1 ,+ .}t,�.}tf' .:,�•�dr,++.” :,•},�` ,u}.r,3tl.nrsF,:Jf,�.y i4,� �ryt=�� .St-•i+ uktr�..t�,a�. f ,t':-^.y„a�„ r;, t' k I > �: I :'r. �f r: ,�i�§§y:.1:a.\ a.ett.S 4;t��.,4•�:iSa1•k'r'kK .3t �fi.�§ r�.��h,�'.`�s•)`K St r7'+xl°;c".� E:�a'�"'!F�:r•��i �!,S.j'..�, .i t 5 i' i•. k .r� i r. +�'�:,,.i." r :`� i�� •t� ,�vf`a�^3`"u'"��$`nf.. A '�.,x�.� S�F xa�,,��,tt,;'*F^'�'-'*�'�Y<F �l� tikT�.,.t;1�.�:..�h?ttti. •s ;;) � � � ' _ ..t i�7 � ,i, :;�' ;`.A<. �::t rat° Y+` ,r;t'J,Y�nita,iif•..l�i}:Iex,r U.,•.y.�n .t,�,�, pSa V .u, '�;.t.,�� et a; .y,+'L.,,r�::i, •.i .{•., r•. i',• 4 .tL � '.N...1. .r,+ta ,,ta,.d�e,<„'t} #t�k'• ��,{l: �. .r '}` ra J;X%:. K}�4.. �` �y ,�.xd�t�'.�':;�3,�r�•..t;q`t4,„ .s ,' .7'�,•`''°^'.� �`i ,�i.:1+�'y,R'a''� �s 7sri„tit k. ,r.t � .}.. ��'' ,..Yr.1t.1 ' .7�^s'.att .!t•y iE ,-.r'.ogii dxx sk t.sef hz,i �t+, y,p gg '�r,f r •Ysr; t'.,l y,:d -e�i. t .'r: 'Y :t ,r: 1 �✓ ,,! S,-,:ia;'? 't c o-.�'•+., r S%Y ,�,"'�,i�`` �1 'r t { a~a 3••y(,�� 2 �^, X�� `�ra st{r+�( i r :{ .. �' } t 1 ;t:t- t,r 1'3',s�iT y i t�4 r .T.rT 1�,;.'t” ;•�lrp.iSt'ni s�,'r�'Qtq.`a'i�, rte 4 �r .;f ��'r;'i'�'9 91i•15�a'n1t.i. :.SyyY k -v 1, :j r r. !. t 1t• � v t. ! \ \ ? S {_ ryii{A X SJih Y.va r°F,y,�.. � '� #y�k!y�,FS'�`, � A4r 4,y'rkt�s� �(r}!1+}'{yAi,f,(ti !•, �? Y �� 1 k.: sy 4;(.i t oi+>,.1'k r t t at y i�•N.}y� � r t.4#.."[S7 7 � �2'k 2 fi�, .,,b�i, � y.t�,F �j '.�'�izbS � rS :��;!�.�.;.1 t :1 t,S t a +i t .i• t f y .:}4n YaQ f.yj�t Y t f...t it 1 y z , i� ��. i'Fx W�,r Khyi•5}( t 3 3't` 7 �`;a. ..r a X ett rt c t ,3 f a.f �". � a, V * ACKNOWLEDGMENTS STATE OF MISSOURI ) SS. COUNTY OF ) On this day of February, 1992, before me, a Notary Public in and for said County and State, personally appeared Louise Gardner, -who acknowledged herself to be the Mayor of the City of Jefferson, Missouri , and that she as such Mayor being authorized so to do executed the foregoing instrument for the purposes therein contained by signing the name of the corporation by herself as Mayor. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal, the day and year last above written. i` /L Notary Pub is - State of Missouri Commissioned in County My commission expires : S c h o l a s t l c I n c - 1 9 9 2 Trust Indenture -63- X t a . 1 .; r3 t;Y ��t. :. r '%. rr. �9'T5t„ ..5 t pt�i •}.y w .xS\ :Y'+ ��f,t{t'''. 4..4 2 1A 1' I ..... h. 1 . ...e...._ _ ... :` t:i` i•• ,raw •F.:s'' _... �'i} 'rya;`. . -fi9%s` � x s q�s.`•'r',*'s�ti� �+. i 1"+ , , f, '..'� �........�..T(: """'r^r7r" _—p'?. .;..Y��I,.sir,�;••:r.,4` xft� �'� r ��"�� 1'Fi G�$�.� �.5.��,?!'4� 1:J�,✓+1 �,.,r 4�:.ra e �t. _ �'i3 1 � r 1. _�� t '4� ,.r3 ':3� .:'if ?r�l.$�,� ?Li{�E,a, .�cu�"'�' �i 'fi��'F {` k, ,:�• ��x�" (, :r�`r .t..rKi s �s°.,.,d,.r a E .'� 's a .aa. R• ,.a, x, r t/ r, STATE OF MISSOURI ) .: e SS. ` F; COUNTY OF ) ; On this day of February, 1992 before "f me, a Notary Public in and for said County and State, personally appeared who LFc' acknowledged him/herself to be a of The Central .M Trust Bank, Jefferson City, Missouri, a state trust company, t and that he/she, as such being authorized so to do executed the foregoing instrument for the purposes therein contained by signing the name of the corporation by him/herself r as IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal, the day and year last above written. M� Notary Public - State of Missouri Commissioned in County `s My commission expires : ! s 1 1F ;1 SCh01aStIc Inc . _ 1992 Trust Indenture -64- i 4k. � 4 k 4 tee .tkr"4 ' ,4t ryt•v '"'�, s>y 'rSr7,.,°"`-F'h'li a.f .'�•�t'Yi.;:,U� t i3r+, rat'2t91� }i � $�'c t. �'rgx%n"' �} • .k• 5 ..} {r w �.- .q � Il`. "s - 't `' ��i 7 ,l.r t '.a 11' •.c {co',. '� t' `ti.. • IlrticmeKrr..e, -�.: .il Ago z ,. �ni! ray . .pr t� � ,a .,. /: r r"`.�{f .�r �F..,�pcS{ac4'•4 .a. :•k� s^ i y .{.. �., {{��,, .r, .i ,t�.��. y r � t " i` y r=r y'��'ia'�'��•�� o " EXHIBIT A s PROJECT SITE tt F` All of the following described real estate situated in the r County of Cole, State of Missouri : Tract 1 : s = ij A part of the Northeast Quarter of the Southeast Quarter and a part of the Southeast Quarter of the Southeast Quarter of Section 22, and a part of Private Survey No. 2680, all in Township 44 North, Range 11 West, Cole County, Missouri, and being parti- cularly described as follows : g more parti- 4 . From the Southeast corner of the Southeast Quarter of •; `zJs the Northeast Quarter of said Section 22; thence S 83 0 � 16 ' 42" W, along the Quarter Section Line, 793 . 61 feet to the Westerly Line of McCarty Street and the ' point c, of beginning for this description; thence continuing S ' 830 16 ' 42" W, along the Quarter Section Line, 574 . 65 feet to the Northwest corner of the Northeast Quarter of the Southeast Quarter of Section 22; thence S 05° s. 00 ' 00" E, along said Quarter 1562 .43 feet to the Southwest corner r of Section ttract lnof land as conveyed to Joseph W. and Amorette M. Trigg by deed of record in Book 137, Page 174, Cole County Recorder ' s Office; thence N 830 12 ' 22" E, along the South Line of said TRIGG Tract, 1468 . 99 feet to a point on the Westerly Line of McCarty Street; thence in a northerly direction, along the Westerly Line of ka said McCarty Street on the following courses and r. distances; northerly on a curve to the right, having a radius of 1482 . 70 feet, a distance of 331.67 feet; thence N 680 47 ' 54" E, 10.0 feet; thence N 210 12 ' 06" W, 430 . 70 feet; thence northerly on a curve to the left, having a radius of 1106 . 31 feet, a distance of 163 .49 feet; thence S 600 19 ' 52" W, 5 . 0 feet; thence northerly on a curve to the left, having a radius of 1101.31 feet, a distance of 96 . 07 feet; thence N 55" 19 ' 58" E, 5.0 feet; thence northerly on a curve to the left, having a radius of 1106 . 31 feet, a distance of 357. 88 feet; thence N 530 12 ' 06" W, 444 .46 feet to the point of beginning. Containing 40.87 acres . Tract 2: A part of the Southeast Quarter of the Northeast Quarter of Section 22, Township 44 North, Range 11 West, in the City of Jefferson, County of Cole, Ak Missouri, and being more particularly described as follows: -65- •.1' �i+�i - t i• 'Y 'H 4. � f �fi yt�4S'S� r 'E7F.va �,a� i,' +• t•^� . } y 1�� fid"��t c� v#� y,t i4 '£�, `S y �� af,r�� y Rv,'XSe.•• .,, . .}:. z yayrir`"�Csr' •�ita .NvtY;) 1 .�>.r ,. ci :i•y,`` ;�`}},1` '+�'i9'L is t& p�.ry,. U• 's' 'tr��i�it�S.^`��tr.. 'S'1�=':S"'$ '•�+i rf� ,e �; .. s f f �} " h� #� {r�� ''j�,�'�iit '{ ai`�y "lti5 ✓ J�-��1'1�> r�F t,ttn't t5'Y riP ti eq,�?. h + y191. + k t o t i},.,r tv,��gala�e."i �f.S'r�'�4:�i°ss^;`r� .��tyi�t t jtx�,Jr tr i� �g�y t'ta i . 1 r�'.y�J .'`s rsY`..,,a � �`+x ;?,�1"r�1•;; ujrs: �� 41 SeT�'t��}, '$ � }i �'C, ix, i � yi,,.. .. lt �djT '�° tx+'4+ � y&•}' t 5 n ��r r{,4�'y�,Y.•' f« �,r., � 1,.. �i ��i,4f '� • h't» , _t, t Vi .'��'.S k1�i d �'` '�41 .. yt rY4 ;;1 3 ( t n t 7t rc I y .y,r, .W 1 t'115C✓{{''t�,�t ' � EL v4't ..L _ .. - �...�. '�' .. .y..,:. . a'•' ,.. . � r ... }:� �. ._ _gam-.t.a.. +k' �t�:4,_ : ... AWN •„$7�"!k4 7, °n"'a ti't S s��Si �. a u ,.. � ' t�Y h 'M "#µ w' ab"t�r ?�% s t: From the Southeast corner of the Southeast Quarter of the Northeast Quarter of said Section 22; thence S 830 161 42" W, along the Quarter Section line, 793 . 61 feet to a point on the westerly line of McCarty Street and the point of beginning for this description; thence continuing S 83° 16 ' 42" W, along the Quarter Section Line, 567 . 13 feet to a point on the Easterly line of City View Drive; thence N 27° 56 ' 36" E, along said Easterly Line, 198 . 68 feet; thence Northerly along said Easterly Line, on a curve to the left, having a radius of 659 .94 feet, a distance of 184 . 12 feet; thence N 850 30" 31" E, along said ' Easterly Line, 1 :7.05 feet to the Westerly Line of McCarty Street; thence S 360 42 ' 06" E, along said Westerly Line, 34 .54 feet; thence Southerly along said Westerly Line, on a curve to the left, having a radius of 1186.26 feet, a distance of 341. 62 feet; thence S 530 12 ' 06" E, along said Westerly Line, 37 . 04 feet to the point of beginning . Containing 2 .37 acres . -66- ?'R.... 'n.� _ ✓ inYe►.-.._�a ..,..._,. _..i ... ....Y i .. ,_ ..i< t w ,.........,,... ..i "'.�r.. . ,a, .,,.f:-.ll.� .....c?e-: - u,r9 ��:l ii ri:3�'r'r"s r S4 tt;7 d y7(S}+1 r'�itt55,n y 1{i�� rtY�;JUa't f i f 9`i�.!ryr y.t i f11'1) i '} rS ivf��ji."9rf'� rj9`sl� Vi r ii ',�.N'} �'a •��a 5r`1i�T,+ttynrr'Nn.nFr�i;l, b�;�t�•�. �wik�rt�'tr�e 1} ��^r.S 4t^ah>i'Y i�,a:�, X� t C .s i ,�1 'i :,. .�.:,rt,t,:{�. �C s '1 is 1 .:3,b.'A + S.�;'r..Y. ..t.: .�7 �1 Y.'. 1;. Ft f t. RY.x.R ddd 5 Tl F r r i 3 i j LEASE AGREEMENT BETWEEN i 4 kV M14' :1 As Lessor Y. AND SCHOLASTIC INC. , f: •t' i Lessee -DATED AS OF • The interest of A - City of Jefferson, - - - under the n4' . — III�S�'T'• �i L�•t. 1 J •tt 1'y5 f } ; y1 F 3 L 3••} t. '� 5-1 'tt YlidrN'�i 1 r 1 `i lu2 } r N{ .S� 1 1 r 1. 'S 7r f It.� � ifl r,, t i r 5} ';{"'P�rA:,±r.��SA,�.l�{tn il! j,.L f'S 1 t� i�g 9e''•SMt P��I\'.a� i. 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''•nc t. t+ •t• t'� •_�.w , er` .t. ,::�a''`'�fi.•�>F.. n;s Y`t�r,�,�`tF tra�,',�,,�It1�''±.t_ Si.1�; � fl+�+'E�. `'t 4:� �. {r .' y:t.t kr��s.Tn,. e){��`+ .tiirr Ci�x,.. i.,,,i,rf r {. r i:� ':r�. 2.5 ;' ..s'. �.'+hF�.,c u! +� .3.. ,,,,i';. .y" ry,�hti. �„',ho ?i.^.rf�"'`....#, f,R,f L1•y..�t.,t,�, .I }. C.t .,tl s + '�� .}t� .,`^ ti ,,y +, e: ;:�n�7�,e` .,F{.r.'. tt=i`rU�'�X f '�+.`• IwrSf:x.x LEA.. ,?.i 4tf. rC'^,:f ,�• # ;�:' `r1';v�t .,�.z:.y, .) l. .y,.,x,:7;.y. •'I,.r r - 1 .b:.'•},� t i � `r? ?f:lh ir.•.s ..�. 4,n} .;.x •'f r'" �,.5)�7l;!;tr..;t� r� rr '0> =y"C 4t'�. t i9,Y'g. �, �.Lr•y lay.. :, t .., ;�.. .If' +,C r s.� � Xi t#4�a;,'1`.rCS �•r��+jYgy rr�1'1 iy:a 4: �'. :.��f'�f4•t�.�r }. .�•',�.�. �A"� y' t�'J�r� S�Y� t . .1.� x rp,;'+.f,4t t �' ,yam, }?q�':, ,' r't Y �,`crsc S" F tre 5{; :.iG�. s`5 •.{ ! n t irr>r , r F�3�. ,:i'r .z St'S•;; � "'d. : ' °�i. .C 'g, 5r,� ?tK,Yi Z 4 tj i 5`,, ,9, t .f s "+ u �.�� .�4�r5 3�:��` 1sr+�a;*fij�..�[,;�. '��: �;z.."s�"��"�r•re�" `' ,•it.�.� A,� r t. 5 � r ��''j.i�} � :as .r �Rt"'•':i''-•�'t.u'�i�`* " !�•�' ' '<*`� '�., .�'.� ,t ,.r•i.�t, ,� .'t .�:.�. .��„_ `��,ftrt�P"r�.,' r 5 ..}.• �.r ,,1 1W 3 S 1 t . IWI ;'{t'�yy��'k :tT�j..i '�4'}I`i, a, t,�w yF "'"(• a.;r "+.:. � 2y t..��J+� '�F, c.. 3a x'F =S LEASE AGREEMENT Table of Contents Page Parties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Recitals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 ARTICLE I_ r DEFINITIONS Section 1. 1. Definitions of Words and Terms . . . . . . . . . . . . 2 Section 1.2. Rules of Interpretation . . . . . . . . . . . . . . . . . . . 4 ARTICLE II REPRESENTATIONS Section 2 . 1. Representations by the Issuer . . . . . . . . . . . . . 4 Section 2 .2. Representations by the Company . . . . . . . . . . . . 5 ARTICLE III GRANTING PROVISIONS i� Section 3 . 1. Granting of Leasehold Estate . . . . . . . . . . . . . . 6 Section 3 .2. Lease Term . . . . . . . . . . 6 Section 3 .3 . Possession and Use of the Project . . . . . . . . . 7 , u r� ARTICLE IV PURCHASE AND CONSTRUCTION OF THE PROJECT Section 4 . 1. Issuance of Bonds. . . . . . . . . . . . . . . . . . . . . . . . . . 8 Section 4 .2. Purchase and Construction of the Project . . 9 Section 4 .3 . Payment for Project Costs . . . . . . . . . . . . . . . . . 9 Section 4 .4. Establishment of Completion Date . . . . . . .. . . . 10. Section 4 . 5. Deficiency in Construction Fund . . . . . . . . . . . 10 Section 4. 6. Machinery and Equipment Purchased by the Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 , Section 4.7. Investment of Construction Fund and Bond Fund Moneys Permitted . . . . . . . . . . . . . . . . . 10 L Mp.ww , axX r `t r t ri yn 1 t 1� i`�:.� zt 1��,�r+•rr ac�.t 6 .sy� ,�'"Y� _ 5.. '„�,,. �� t.a+,. ,,i� .�(sd�U $v F S f,,�,C.�;� 3 r.Y�$�� y f� t 3 5. y + s 1 t . fi 1 � a.I.t.;.,°'.•,fit.,. �;^t S •i i• �,�� a �s �� a - +y'� }a&g• �� Yf arfi s 5 Ft~ ;S + t;1 9. r tr y r, ARTICLE V PAYMENT PROVISIONS A Section 5. 1 Rental Payments • • • • • Section 5 .2 . Additional Payments 11 °# Se*ction 5.3 . Obligations of Company Absolute and 12 Unconditional Section 5 .4 . Prepayment of Rent 13 13 Section 5.5 . Redemption of Bonds f' a ARTICLE_VI ! MAINTENANCE, TAXES AND INSURANCE Repairs and Utilities 14 Section 6. 1. Maintenance, ; Section 6.2 . Taxes, Assessments and Other Governmental 14 s ' ` Charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . `R Section 6 .3 . Title Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 t+,m ' Section 6.4 . Performance, Labor and Material Payment t 15 { Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I 15 Section 6 .5 . Casualty Insurance . . . . . . . . . . . . . . . . . . . . . . . . Section 6. 6. Public Liability Insurance . . . . . . . . . . . . . . . . 16 'N Section 6 .7. Workmen' s Compensation Insurance 17 Section 6 .8 . Blanket Insurance Policies . . . . . . . . . . . . . . . . 17 t /))j+ AV& .. ARTTICLE VII d REMOVALS, ADDITIONS, MODIFICATIONS AND t: IMPROVEMENTS TO THE PROJECT Section 7. 1. Release of Certain Land from the Lease . . . . 17 {A Section 7.2 . Removal- of Project Equipment 18 s Section 7. 3 . Additions , Modifications and Improvements of the Project 20 '^9 Section 7.4 . Additional Improvements on the Project Site . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Section 7.5 . Permits and Authorizations 21 Section 7. 6. Mechanics ' Liens . . . . . . . . . . . . . . . . . . . . . . . . . . 21 ARTICLE VIII DAMAGE, DESTRUCTION AND CONDEMNATION Section 8. 1. Damage and Destruction 22 Section 8.2 . Condemnation or Insured Deficiency of Title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 GO ,� "uy,A,�., 7 +'w .•k gP' .CY �i r'y+Sri §a4tt;c.l�'Yr / 'S i� � r�. ��'I�t 1lf f P p S s.t�'�✓� 'i- 5-tt y d'l f t�'..�.�j�`. �rh � f��2s '1 �� ..'+� � ,� ,�.��` r.�YFKsf�ft��hSG��lat�Y@ �.'�f""`��dS��"s`?��t��;ti 1�`�tFP• s r�4�i"r5 ,C`•+?•3�� t� Pp�eeh.��{�TAY+.�f��3 � I .1 �tt_�,_....� ;liY ' — .....�.�..+�• .. _ '3 .i � o,s.l�•fr f:. „�..jcs�,�>¢ .`. �a.+ 7 $v<ts3° � ��r��tUn `3}'Y� ✓ +i � � � t .t Z' ; f L v� • ha �g ARTICLE IX SPECIAL COVENANTS Section 9 . 1. No Warranty of Condition or Suitability by the Issuer; Exculpation and Indemnification 2 4 �. 24 Section 9 . 2 . Surrender of Possession . . . . . . • • • • • • • • . . ' • • 25 Section 9.3. Issuer' sto1gMaintaincitssCorporatero�ect • • • Section 9.4 . Company 25 Existence 25 Section 9 . 5. Granting of Easements 26 Section 9 . 6" Indemnification of Issuer and Trustee 27 ' x; Section 9 . 7. Depreciation and Investment Tax Credit . 27 Section 9 . 8. Company' s Financial Statements 27 , Section 9 . 9 " Security Interests . . . • • • • • • • • • • • • • • • • . . " " y. Section 9. 10 . Tax Covenants • • . . . . . . . . . . . 27 { ' ARTICLE X ASSIGNMENT AND SUBLEASING kg 30 „ J, Section 10 . 1 . Assignment and Subleasing 31 Issuer . . . . Section 10 .2 . Assignment of Revenues y . . . . . Section 10 .3 . Restrictions on Sale or Mortgage of Pro- 31 ject by Issuer . . . . . . . . . . . . . . . . . . . . . . . . ARTICLE XI OPTION AND OBLIGATION TO PURCHASE THE PROJECT i option to Purchase the Project . . . . . . . . . . . . 31 Section 11 . 1 . p 32 `: Section 11.2 . Conveyance of the Project ` Section 11 .3 . Relative Position of Option and Indenture 32 : '- Section 11.4 . Obligation to Purchase the Project a' ARTICLE XII DEFAULT AND REMEDIES . . . . . . . 33 Section 12 . 1. Events of Default 34 ' Section 12 .2 . Remedies on Default . . . . : . . . . . . . . . . . . . . . $ . . Section 12 .3 . Survival of Obligations 35 ' Section 12.4 . Abandonment by the Company 35 Section 12.5. Performance of Company' s Obligations by the Issuer 36 Section 12. 6. Rights and Remedies Cumulative . . . . . . . . . . . . Section 12.7. Waiver of Breach . . . . . . . . . . . . . . . . . . . . . . . . . . Section 12. 8. Trustee' s Exercise of the Issuer' s FsAn. 36 Remedies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . r � k � t� ��4�F dV t2.�v'y'`d j+� t4 fy��k• �.,r'- .,�,f i ,�y ,at ' yti 1 i 'k�,t i,� t�ras+ 7 � ✓ x ' i, ' °€�.,, r }.k� .�'b�'Y� >r �t1 (�� '4244�"��; s t4?•rybp t '��1i�yita r`k� �t q z�'C,``� � F a�{, �f: 'y b4 4� 't`�aS`4��d c�,i>< � r�` ,�,Y�r.. iii �`•��t !z � J� :ya. , .vks� +',. � .�. r 1? R r 'm 3'1`YW82•L � 2r i,7F n4/.L �:, �kF � t ti r� � .:' �;.: s tt. .t,, t.�,. .;; ..1 .s ;1•�,,�x .t alp ,�',j,° uAG s �a �C` ��t�ttt�.,��! .`i?S `7 },.,'' r}`.t�'t a Sr xx. ',�h .. t r..�_ _ .. }, ....� . .. ,. 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F{r. r��,P° 1 •"i'+..1:>, r+•;7ti��''tidib:�6 i.. v,r � u r ,.�t, i::' I y k`, it,•,r�•� .�.�y+['y}+;^:�� , >�T>R �5}y.l<Yt.�� `.z;"�' e.:.� {�` ' t s t• t ,5 y' �,"{'� 7�• -k��'r�,��s i�J:�+4,' #''}{. � 'r , ,�. A l } �r-,;7 'fir'• 7r,� .� "� t' h � Fr a: �f/ ;'•.�,r Z , t ' t f as 1 pa �} ? .}• 'jr r t 1c.t S t r - " a 1 d yl�SS�.n;.�' 3. r;' tI^ tt t�f`e i d�'..'�,r r�r 1 Lr t..; ''t9�.:.5 �"V ,�+ �y-�"�'"��'X4tr�r;4i 3�n� jl��d�.i�a";Wf.,� +k,�y'�`�.�ji; S�fr•; a .xx�,s�'�,�,t� . �y��ri�:.. i"`.:++�5'ecia.;a.,.:.::,;..::snsro� �'h_ .�cx�°•. ...:Y �."Y''�1�t.�,`�� ,+��"ri�.r ter.s..tr t ;�C:,, r .. n, t{ . .>n,#`, .Sk. "t 3utn•<a.c Y,, LEASE AGREEMENZ " f. THIS LEASE AGREEMENT, dated as of February 1, 1992 (they .. "Lease" ) , between the CITY OF JEFFERSON, MISSOURI , a municipal 'f corporation organized and existing under the laws of the State of Missouri (the "Issuer") , and SCHOLASTIC INC. , a corporation 1 t r `i organized and existing under the laws of the State of New York, and authorized and qualified to do business in the State of Missouri (the "Company" ) ; Rtt" WITNESSETH: •'?c_.' :gyp �,,�t,°;t'.' WHEREAS, the Issuer is authorized and empowered under - }" ? Et i,•'tr rs ` Article VI, Section 27 of the Missouri Constitution, as `pY ° ail4 ,. ;y amended, and Sections 100. 010 to 100 . 200, inclusive, of the Missouri Revised Statutes , as amended (the "Act" ) , to purchase, { `°" construct, extend and improve industrial development projects (as defined in the Act) for manufacturin and industrial development purposes, and to issue its industrial revenue bonds , ' for the purpose of providing funds to pay the costs of such Y.` P P P 9 •:; projects, and to lease and otherwise dispose of such projects to private persons and corporations and to issue its revenue a , bonds for the purpose of providing funds to refund such revenue 3' bonds and WHEREAS, pursuant to the Act, the governing body of the Issuer adopted an Ordinance on April 19 , 1983 , authorizing the j,• . Issuer to issue, and the Issuer did issue on April 27, 1983 its t ? Industrial Revenue Bonds, Series 1983 (Scholastic Inc. n, Project) , in the principal amount of $4 , 500, 000 . (the "Series a < ` 1983 Bonds") , for the purpose of purchasing and constructing an £ industrial development project, consisting of a processing plant and distribution center located in Jefferson City, :..v Missouri, including real estate, buildings, improvements, �=4 fixtures, machinery and equipment (the "Project" as more fully described herein) ; and WHEREAS, the Company has requested that the Issuer issue a .. :: '} new series of industrial revenue bonds for the purpose of .p ' refunding and redeeming all of the Outstanding Series 1983 ';. Bonds on April 1, 1992; WHEREAS, pursuant to the Act, the governing body of the .i.,r Issuer has heretofore adopted an Ordinance on February , r. 1992 , authorizing the Issuer to issue its Industrial Refunding Revenue Bonds, Series 1992 (Scholastic Inc. Project) , in the principal amount of $3, 575, 000 (the "Series 1992 Bonds" ) , for the purpose of refunding and redeeming the Series 1983 Bonds, , .. and authorizing the Issuer to lease the Project (with an option y ;V, to purchase) to the Company; and .y rt '�jjf.l�.k�j i Si '. Y Z a c x i 4 rs t Is + •?,:dh" u, {Y + ,it'c t t )-Y T�{y, to s 4 x +- t. t z i.',t t' .r F t +Z{•tlti7y t� y.t" �� i.t"�v,��"i ,� sg ,£�•fi' r } ;.3y {t �a * .;<•! ''we S'<'� ..Jf{s t' tst y1•;ry T ,.r+ .. tea tr .Sly z+, P 3.` vT 1 V.T d ,��y,� rk` •uri' r.}`,y ' r p 1y t t. 3 S': t c + ! o+f' y v F t t i f4 A"I" Spy fp t, r�..r +. } xti .i t+. t 't .i _ , t'..•j + ' Ptk in + ! a .. 117E 5,3 .! t,.'. 2� } , c}. 'Y �') `§ r x,+6 1 ,+ {t M' + '� 1 r f 7 1 ;rsS,:7 t t: >x: ✓5;,+? + �Fra':i�k'�f,, 1t n``x ' `` .t s+� ,v � xi`(F ..r� '� "�,`�ae::.t: }rj'r'a :' #i, KI''h� i•,�+,T?' i lx a'+ K,r ?�''t'' '� �'., »�}''x. _:4r�1 r -d,,� �C�� f. :i !. ! ,••S �ytt. .I,S }t, '`I t {kl rx k .:f n ,, .`i: t ,,' i�•; ..i +y�Y�tiu ea{st',y,.�3�+r�.r�`i ", `+ `. .. 1 r '. ------ s ..�_,Y.e. - ;�„y�.. ._ ...�.".�...•.'_:atr.a..e.'1`.¢.:.ta1.a.�dti7oatMrz.trz aai�.".ne ' st � . ,� .•rt't! r r;5 � t } r` r t i �Cz� ��, .t �t y�� t` 4 Y � rr' � ! ° -.r, + t pp��,,r r C��f•,.u'�ffY ,4�'��n }fii +A'art6td!W.d.a.'':;:'..iwir» i�i7`w�.ra��. mi �x=i,.tt�F.�;�� t..a ,.a. ...s�4.avwa „J'.s,:\..,.f.�� `r.s��d•.tt,. f, ...0 a;,'{, '�:{� .�«��a '�-.- '4 INS 9. WHEREAS, pursuant to such Ordinance, the Issuer is authorized (i) to enter into a Trust Indenture of even date :r. herewith (the "Indenture") , with The Central Trust Bank, Y ; '} Jefferson City, Missouri , as Trustee (the "Trustee" ) , for the ' x' purpose of issuing and securing the Series 1983 Bonds and f� z< Additional Bonds collective) the "Bonds" y' �., (collectively "Bonds") , as therein provided, and (ii) to enter into this Lease with the Company :. under which the Issuer will cause the proceeds of the Series 1992 Bonds to be used to refund and redeem the Series 1983 ''?` Bonds key~ previously issued by the Issuer to purchase and construct r. the Project and will lease the Project to the Company j p y (with an option to purchase) in consideration of rentals which are to be sufficient to pay the principal of, premium, if any, and R . ,r interest on the Series 1992 Bonds as the same become due; and �� `�� qf� 1 414,q • WHEREAS, pursuant to the foregoing, the Issuer desires to t lease the project to the Company and the Company desires to lease the Project from the Issuer, for the rentals and upon the 5 terms and conditions hereinafter set forth; NOW, THEREFORE, in consideration of theat { � 0t premises and the �;<•�`�> •- r...r mutual representations, covenants and agreements herein contained, the Issuer and the Company do hereby represent, " 'i covenant and agree as follows: "= < : er ty ARTICLE I DEFINITIONS ; L :+ Section 1.1 . Definitions of Words and Terms. In addition ` to any words and terms defined elsewhere in this Lease and the Indenture (such definitions being incorporated herein by reference) , the following words and terms as used in this Lease shall have the following meanings, unless some other meaning is plainly intended: "Full Insurable Value" means the actual replacement cost of the Project less physical depreciation and exclusive of land, excavations, footings, foundations and parking lots, but in no event shall such value be less than the principal of the Bonds at the time Outstanding. "Indenture" means the Trust Indenture, dated as of February 1, 1992 , between the Issuer and the Trustee, as from time to time amended and supplemented by Supplemental Indentures in accordance with the provisions of Article XI thereof . r "Independent Engineer" means an engineer or engineering firm registered and qualified to practice the profession of engineering under the laws of the State of Missouri, who or which is not a full-time employee of either the Issuer or the Company and who is acceptable to the Trustee. r —2— .�+. `.mot °; `a"akr" :s'.�h;..t' A;�✓;5'Sk:;.1 ..t:. _77 7... { ti�� e z •`( �� ',}-j.:h i"r� rY t rY f, 7 .} �! .C�fi'4 s u +ii l�f?� `� i'irs s4�Ey, i7-:t`i r�',,} ' fi°,. i+ .ir- u >•5 +� f '` ".'p''&r y r ^ ' }toy .a t. � .pry't !S' f.,5 ,+r r s t{fir s<;i{t x4,•i 3r' r ',< d'1`1"�Sr.}rtht rc j y"" kh skit;� 44 ^ , t,�-' '�#, y��+.�r' t Cp e ,+ � 'a'U }rt�.y' A th x.e'(��:� i�• 4:a,r,at .t !rr'!`err�`<.�{ r",^�.5.� 1�y}+ tS tr,:+/a tt t; i i.[Ai',+�+tt�,a,.y {a t a'a f{ 1�y\f�yi� � . a. ..-yz.v+�' Y t f• i'�S f�f z '^+"- i}�� 1 q 4'�-., S s 4 J �{t } r s s � i r, :,fit iC. v t+tj�t, ` b � LL�� lY t e:'d 't �fl:i''�� Y Y� � i-1 f•.- s F is f., r ti 24-'S 11 .v F 't 'P�M��f �ix �j�iaml$c - � r 4�. qy 3�.. 4 7P. t t � t .5' b t✓ �,o ��.^bii-i+?��',�T��x,5 ;M :�W�>�}'yFb� ��'7`;12R'.tn,�'�, 4'+t{5 y'�� .'j�: a �. .-r ,rYr +r�•tw� +i�} n a t a 4 {'1 ;'n 4 t s e�.?�F�1;��, .{. 'tVl ryv,�i f.}'.H $5��? '4.1 .• )a lyd. „('7SJ .{y .-Z..SYt: ? ��J. t y .t 7 .{ ..��A • .tr..., a 'y.: tic��uimr:Autft'iAllinss�,�taitBrt{a{an�e ?' _r � �:,f:,a4L'.r'?S. <A.... fk' .,� er s,, s ,+ w�'k,��s 4i:e..xr 3tt"�'k'. r�.�'Y.z�;1:.?�.y�,.:.t`'.t?��_�'i�NStia.,.._..Y f�X£'-•r.�.r�°i�i`#).s, i ,'.+t�i t}.,,r� M1 V Issuer means the City of Jefferson, Missouri , a municipal :.: corporation organized and existing under the laws of the State of Missouri , and its successors and assigns . "Lease" means this Lease Agreement, dated as of February ]., a . r 1992 , between the Issuer and the Company, as from time to time supplemented in accordance with the provisions of f. amended and supp this Lease and Article XII of the Indenture. ? "Lease Payments" means Rental Payments and Additional Payments described in Sections 5 . 1 and 5 .2 of this Lease "Lease Term" means the period from the effective date of A this Lease until the expiration hereof pursuant to Section 3 . 2 N., of this Lease. r "Net Proceeds" means, when used with respect to any r•°'.:� insurance or condemnation award with respect to the Project 'Ayrf,;r ` referred to in this Lease, the gross proceeds from the 3a '` 4 insurance or condemnation award with respect to which that term v= s is used remaining after payment of all expenses (including ctt� ' attorneys ' fees , trustee ' s fees and any extraordinary expenses * qtr ' of the Trustee) incurred in the collection of such gross proceeds. ' F}JpYTk 1�",tyt { "Permitted Encumbrances" means, as of any particular timer "� =.. (i) liens for ad valorem taxes and special assessments not then delinquent , (ii) the Indenture, (iii) this Lease, (iv) utility, J. `r access and other easements and rights-of-way, mineral rights , restrictions , exceptions and encumbrances that will not materially interfere with or impair the operations being a'. conducted on the Project Site or easements granted to the s• Issuer, and (v) such minor defects, irregularities, encumbrances, easements, mechanic ' s liens, rights-of-way and h clouds on title as normally exist with respect to properties similar in character to the Project and as do not in the aggregate materially impair the property affected thereby for "+ the purpose for which it was acquired or is held by the Issuer. "Project" means the Project referred to in the recitals of _ this Lease and the Indenture including the Project Site, the r{ Project Improvements, the Project Equipment and any Project Additions, and all additions, modifications, improvements, replacements and substitutions made to the Project pursuant to this Lease, as they may at any time exist. "Project Site" means all of the real estate described in ' Exhibit A attached hereto and by this reference made a part hereof. k -3- �'' �••Sg"' yx . '.,r r. v �><Tr�3'�"i.'�}��'.x'{atG%"t-fit t. !ti u' P+w:Y�•:9;s6 ��`;"s wv�'�rt t ' r t�,:�';-,gr,'}Rr �a;!•>r.p as Yt Ct.ri �w�[rizE'F,Y ' Yr 7+7;��,t}' ; 7F ie `+j f.Q•Cva�l+aR��a;} s w'� t } r .t�t ..s 4 'is r .,.t.,,:,�..f.�� tt•t. 7 I.,i.�, a 5`a 's M1� t rt.'�y'� x�'-'sY' � r#.'. Y t�ct�'• P. .�� -`7, S„'�'�,`�`'{t" � A t t> 'ty a rr 4 tt. .>µ kl tt. � k f �iF� �, t� �p 4 4? �T� i, r. 'iu+:'�y; 'I� y} 5e 2�Y}�S 1.�� rt?Yip:` ty� ; { 3 4. : 't�y�; ', "'j>•...Kf n „ �a Z(5- '� r"•' � � Y f` �' y�'�'�t,tt,. � �'-1 xt .r..'f its}s .�1 fir.`1 .�,.c,ltj4.t. t. tj{9 tr}tYff�Y t{y i ✓' 7,�rt4' .�• � s ;�• �_ a a'{I ,?t,•�F��^•t��#'}+�«, xr{5,�� tv 4 .s.+^ 1. t t r tr y ? 1<4 .� .h 4�.��+{t f�, bX t#sr �j5 .�'trlet 7F ''t'.7ry.° rU"`�f't' 1 ::� .ht�•1,'#r'4h•' • •.".2kx' 1.'F '.14T .3., .r41 } .'�.� �."ry�t{27g7i �} j: k:,tc„tn"�;;rxd2�•9' rr; +,$' dry. 7 y s:' '=�"9 6. 1 .X 7 rtY#'''e S;f;'i.•,!.f'r'vf�}.�.'-{t � f 7 �' S + '' } ?.�J V � "3 i`� �'`�', L t `S t j .t4) 1;,�y.tr•�•�T��R�NY 1 ,�'x�� , �t q x�1,-Y j U ry vw�.i "k"i .*t#��^ a i c .'v3- ,tr.� sitr...+':i+.• 1�.' t: t` f zE #r�'�v �S ��a� � ray y'7.15t Y�.A tt ttt Y�iSt i' .tt. !. }>�} } 4 fi y '.' r �. t ql. itt t i a .s �i✓�1=Jt}� + c X*} 1{�K �1 it r s x i�� s L' 4x i k'� �'s'4 tXta't.`` lPr.,' •,�• •�'�'tl L;. � � , ,��'. ,,+t r` §r;, "Y�.ty��,�'t•-i's„'».r#. r f' S^=� .,' i�1:i x �ts.t r � !'' .yri'�. t } �� xir � Sl�f � t i' tf� �•��:� t'wxr,t,3g•�A y� i it>ti lr�� t:: �t)'t i�y.`� � .,�,°J�F ,.��A .y. ° i f .F�:s 3 r r.. 5 .t t >, f r ii z,fi j I�3i1�. r'Y `�`,tt .h "•'�+ b'�`��y`� '.q�{��t'� r � i�,� :,f f y .r�,`fit F ��'�SL f}i !Y• ?'.'1h 4 +' � `:t 2:: 'S! ( f {. Y,h:� ��S' ''��.�. 3�Tr�•,....,'�; � t 3' Sf.1+..5'j k:t'w N Y: q}��, f4 rt. �i''2� ? s' •�F t .'i, ,� s fi :wrf ufi C °ti 'F,'LtsSYck��rr5`�-•�'�k`;�:;�. w'f,��' r'y�~fi i•, ��> �tf+ f; �';r<st' + .''`''� V ^i5':'. � 14'�: •'�:dt^ :A1�,F t ,._�y �";' ;�.m..rp�} } `,i�� '. M 4', n y . r !,�'t y; �,��}�'i.F„',�A,t 4� 'n. :?!r t� rt.�,,r p�'!i ,c sS?ar a.: .r��*r qi 4 il;� t,�,l,1r q 'A'. y` .t�:k:, yg�7$;''r� .g'•r .�,Ye.t 1 .X:�Y. tk �t - "Rental Payments" means the rental payments described in Section 5 . 1 of this Lease. x • enl Section 1.2. Rules of Interpretation. gk 1, 4 (a) Words of the masculine gender shall be deemed and � .:. construed to include correlative words of the feminine and neuter genders. . (b) Unless the context shall otherwise indicate, words importing the singular number shall include the plural and vice ' versa, and words importing persons shall include firms, associations and corporations , including p g public bodies, as well as natural persons . wn., (c) Wherever in this Lease it is provided that either >/ party shall or will make any payment or perform or refrain from performing any act or obligation, each such provision shall, even though not so expressed, be construed as an expressti "> ° covenant to make such ;"f `=' payment or to perform, or not to perform, �;tr�;r��:��.4�.: as the case may be, such act or obligation. (d) All references in this instrument to designated {.., "Articles" , "Sections" and other subdivisions are unless otherwise specified, to the designated Articles, Sections and subdivisions of this instrument as originally executed. The words "herein" , "hereof" , "hereunder" and other words of . r , x't similar import refer to this Lease Agreement as a whole and not n ; to any particular Article, Section or other subdivision. (e) The Table of Contents and the Article and Section headings of this Lease shall not be treated as a part of this Lease or as affecting the true meaning of the provisions g hereof . rrt A ARTICLE II REPRESENTATIONS Vk•. Section 2 .1. Representations by the Issuer . The Issuer makes the following representations as the basis for the undertakings on its part herein contained: r (a) The Issuer is a municipal corporation duly organized and existing and in good standing under the laws of the State } of Missouri, including particularly the Act. r•: (b) The Issuer has lawful power and authority under the {: h: Act to enter into the transactions contemplated by this Lease . *, and to carry out its obligations hereunder. By proper action -4- ..} � 1, y ,trf 1 + .'ttN�l'•7r'rL.*'vy�' � l I•2 tFr4n �' '� ��' 7 x.l;jyu .�' � 7 is a� i. '#syt. s.J � I�x f �? 3ufi•�?' 4Ynr<c, ll Vi V." c; 4 t}r,{��:°£r,kY K,T'` ,fi t•r� {y r.. t/ r.t .."`t*—F'. t a ' . 9g ,i�S`r t;�"t'+�'.a�z 1.1 J'�t, ..`4 .,h y (�' '.ytE,°.¢'.� .r. 1 ��,t.. +q ,}t r'•1 yr s�'`f +zZG1 jfi t�!p.R t,:'£1a dri3f�_.'�?P,. .gtrt ,1 ' S �° iar 1`�4ij��+ } CI i; t t lf 1'r t 1 > ! +:SI 7 s if �.:. �i i v.,� •.t'�p At isj^.'.N,:' .t • 'a t £s�u�.l�rf iY 9 X rh f v a ft f;y4', x ( �.f, �� .�. ,.�,( n ty': o�`�.d�.A1� FS v t trvt '# .�it �` E t t t �x '• :t hr .(I .{�, ti 1*.5:`Z';r,:� � � NA .! ` ix•WI.+ aiaii¢ �.a`�..,.6 tr� ��1 .Tra.�S�tr _ 1�1? t.° £Y r, t. r t Ir 7 1.. •t f vl Iy „y .f7 l j}S�4.`��Y�r`SY '!g�'��rti, i' r .; ::' A.#tM S�We,,.i»gvrs.wc+?ltlf�€��'l'eta"'y.'^��.'isF.kj.�r§r;d✓�t.:�'k'{1��'''rt^i,11��,tiG{1'._.',...;';rs :::',� r;' s:.. lj t '.f;�'"L .. . . i is t� ' r#1��5„` � ��'l.Sja j ,� ,� d i,7frL,p S i �k.°ra of its governing body, the Issuer has been duly authorized to x¢:;AY',• execute and deliver this Lease, acting by and through its duly My- authorized officers . r° (c) As a result of the issuance of the Series 1983 Bonds , z : the Issuer owns the Project Site, subject to Permitted Encumbrances . The Issuer will enter into a new lease of the k•, • t'=4 it rc.,-.-3 Project to the Company and sell the Project to the Company if the Company exercises its option to p purchase the Project, all ��• ;'��^ for the purpose of furthering the public purposes of the Act . '. (d) The Project constitutes a "project for industrial `"'`" ' development" within the meaning of the Act, and the purchase, construction and installation of the Project and the leasing .;:; and sale of the Project by the Issuer to the Company will further the public purposes of the Act . irw e To the ( ) finance original costs of the Project, the Issuer issued the Series 1983 Bonds in the aggregate principal amount of $4 , 500, 000 . To finance the cost of refunding and redeeming the Series 1983 Bonds , the Issuer will issue the r , Series 1992 Bonds in the aggregate principal amount of $3 , 575, 000 . The Series 1992 Bonds will bear interest and be { scheduled to mature as set forth in Section 208 of the Indenture and will be subject to redemption prior to maturity in accordance with the provisions of Article III of the Indenture. The Bonds are to be issued under and secured by the „rl, Indenture, pursuant to which the rents, revenues and receipts derived by the Issuer from the .leasing or sale of the Project will be pledged and assigned to the Trustee as security for ` 'rj '' payment of the rinci al of, premium, if an ` P p y, and interest on r the Bonds . .,,�fj , ! ; y S... ry1 y lS.yc7 (f) The Issuer shall have no authority to operate the Project as a business or in any other manner except as the lessor thereof . fit, (g) No member of the governing body of the Issuer or any , .• other officer of the Issuer has any significant or conflicting `' interest, financial, employment or otherwise, in the Company, " the Project or in the transactions contemplated hereby. Section 2 .2 . Representations by the Com anv. The Company makes the following representations as the basis for the undertakings on its part herein contained: (a) The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the State of New York, and is in good standing as a foreign corporation and duly authorized and qualified to do business iniy the State of Missouri . t (b) The Company has lawful power and authority to enter into this Lease and to carry out its obligations hereunder and by proper corporate action has been duly authorized to execute i t .x 4r xi;4fR.yft•;SAtjY+tht3 rtf• f�v,t! Fi '��9 !°"'yR--'.'i { } Y, 6{ ,'#; , l.�tF'`•��,�.rF ur t+ s , J7J k c .'; ��. '. .tr. ,� 1 :t- i '' '.r + . ay'S is« .f � t,- <i tY' a; . t x!• ais t i Fr li s .r t �..'f k7 r'+r4{, .. �. i. 4a y.ej^r^l{4ltit 5 t. ,F 'a:' i+ , a ✓ '+ t i 1 r }r� �};A t`t E” `Y��+ vs. i - J n i ^4 ,i "�i, .x{+j7t t.#i�#ys�'i ;:�$(�� -ai•IR." x�. t i Y�•�� C. '1 rF ,'T �tl 't ! 1 k .4 L ^'4, 't S � 9 J�i., Y fir: $,. .fira �tI'.. '^ } i. • '44r .,, ,i -. t 1 ._t§f ';t t iaf}nk �srn �� ,� *��Sr; J•,. �. 7 t , ,r 1 t t ;,, � Div ,�� , �`a°!,#`,�• ,��,� a '� «;yf s '• e'c, t{' ru' y�,ktr'{ t� � �Vt�s'i.idj� � yt`ri":; iri + .. : t �1 t ,t'w3..'(k4.y +V dYa✓,fc� jig, $ t`�j..t .t 1 wow A),r �� 'Narrkis .. " • ti r i"�,i's7t=`trr, �. awn—i,:,_a.,{:,i.s'� .b,., 1a-.t. ::c ...ru. .:'v' ... ,. ..^.sriaro..,.:.u,.s«n,rwsae7�i'Y'4:.�`'J,t l,��tk� � �1'�'1��3.�•�'�', through its duly and Lease, acting by and deliver e this i• authorized officers . '2; -: mss the and delivery of this Lease, :3 r (c) The execution ,ua :t rSt, tin 't consummation of the transactions contemplated hereby, and the � s performance of or compliance with the terms and conditions of , I not conflict with or result in a this Lease by the Company wil { ��`t'' )_•.�;�a�x�• breach of any of the terms, conditions or provisions of , or deed, of trust, lease constitute a default under, any mortgage, ,ekyt or any other corporate restriction or anY a9 ,.;qi �tF.TZ�i+ instrument to which the Company is a party or by which it or s13 3 any of its property is bound, or the Company' s Articles of '. s�� " ': ', r Incorporation or Bylaws or any order, rule or regulation applicable to the Company or any of its property of any court or imposition or governmental body, or result in the creatnatu a whatsoever of any lien, charge or encumbrance of any Which i5 upon any of the property or assets of the Company ) instrument or agreement to under the terms of any prohibited which the Company is a party. t ,�p r o j e c t (d) The Project constitutes and will constitute a ltiA``ryr^4oF, .Y�,.f, within the meaning of the Act, and for industrial development" the purchase, construction and installation of the Project and �rf� tip' bi the Project by the Issuer to the ; ; ��,•r.,,,u the leasing and sale of purpo ses of t Company will advance the purpothe Act . with all presently applicable lies (e) The Project complies building and zoning, health, environmental and safety �x., ordinances and laws and all other applicable laws , rules and regulations . (f) The Project consists, and at all times will consist , , ."" : ,A,; }• of land or property of a character subject to the allowance for depreciation provided in Section 167 of the Code. £ The Project is located wholly within the corporate (g) 1" limits of the City of Jefferson, Missouri . yy .•1 ARTICLE III t GRANTING PROVISIONS Section 3 . 1 . Granting of Leasehold Estate. The Issuer hereby rents, leases and lets the Project to the Company, and the Company hereby rents, leases and hires the Project from the M.; Issuer, subject to Permitted Encumbrances , for the rentals and upon and subject to the terms and conditions herein contained. s Section 3 . 2 . Lease Term. x (a) This Lease shall become effective upon its delivery, and subject to sooner termination pursuant to the provisions of this Lease (including particularly Article XI and Article XII _6_ F4��, Wt r . �..i<^!'T6 T'i}• ." • +.+�X'^°>•>r l. }1J�,L(9'lty�..�RfrH".'`"".. . t t f f ;. , • 4 p,,�.,Y;�7, } ;� ' tr'%:}'s '' ' r' :�: . J ir i -t : { It+jt ti tr>!Sk`t�+��,a. �.'� y 7 ,y;L •ii:,4qv ta;5 �2'qi��)rn�,,�}�yx � tt51��5 � t .t � + _• 4 s - r� , ` z;x# 'limy F�'�yC �'�t ,r � •s ,i��FrY �� ,„(�Jt�st d'i. .c� xv4°.. a: 7 6, s !t f i t ,;. s 1 r .k1 �,�.z t.ay'�+�'{�''�'�''�' •..r. ',2 ..,,. u:Y r;•} pf��,.:� ,.t,s.-,�fk't �.'�� : �,1t rt'�}. 1. 3 i t �:�._�.k..;Ay. 1t.„"ral* sY:�`'ar�� .;f a *,,�1,. 'sa+;1i trJ'..± .1 yy�t,. y )."�� .�'y ,'F*.' ..t �•> Tr: F. Y i r Y .3J S. >,i`fbryt�i.,ba •»: ,f t �.. v .�JF T' �i. 7 n y '.t •.f Yky}3: t it, �•' Y t.J t + r' 7 �,) � fy:, s P q.„ f „rt ty I,� t+�k z?'� ywYWrfrV7 i,_t{l. 'ftit 'y 4lN�.� �� v4 fjw ¢!j r t t: };•+k.�� .d4j.a 't. ,it 5 :� 7tptC;Ye6e•gu'•} !t .,�=•S,{;.tAi['i. ' 7. $¢ js�FS1{fiY' 'Cw M m: ae.n,.(Y,'..i7',tR%:�1.5etk'ai �t.! "n'',•., n 1.� s�.` r . r.: „ '. , f. _ ' § f p P {*, �• 'h. hereof) , shall have an initial term commencing as of the date _ of this Lease and terminating on April 1, 2003 . ` U � (b) The initial term of this Lease may be extended from F �x time to time pursuant to an amendment to this Lease entered into by the Issuer and the Company in connection with the issuance of Additional Bonds , but in no event shall the term of this Lease extend longer than the date the Bonds and all interest thereon have been paid in full or provision has been , 3# made for the payment thereof in accordance with the terms of :: , `,. the Indenture. Section 3 . 3 . Possession and Use of the Project . ti Jpy Sa . (a) The Issuer covenants and agrees that as long as the Company shall not be in default under this Lease, the Company 3'y shall have sole and exclusive possession of the Project (subject to the Issuer ' s right of access pursuant to Section 9 .3 hereof) and shall and may peaceably and quietly have, hold and enjoy the Project during the Lease Term. The Issuer covenants and agrees that it will not take any action, other n than pursuant to Article XII of this Lease, to prevent the Company from having quiet and peaceable possession and enjoyment of the Project during the Lease Term and will, at the request and expense of the Company, cooperate with the Company ;y-s ,FAt in order that the Company may have quiet and peaceablek't;:: r.<" 7 Kt possession and enjoyment of the Project and will defend the ` Company' s enjoyment and possession thereof against all parties . ,}ja , y�''at . (b) Subject to the provisions of this Section, the Companyt `. shall have the right to use the Project for any lawful purpose allowed by law and contemplated by the Act . The Company shall '` comply with all statutes , laws, ordinances, orders , judgments, �� ', decrees, regulations, directions and requirements of all £ ?. federal, state, local and other governments or governmental 5' y"��xa• �;,, authorities, now or hereafter applicable to the Project or to any adjoining public ways, as to the manner of use or the condition of the Project or of adjoining public ways; provided $` that the Issuer shall not adopt any ordinance or regulation, or ��f take any other action which would interfere with the operation ; ' a of, or defeat the purposes of the Project as contemplated herein. The Company shall also comply with the mandatory =` requirements, rules and regulations of all insurers under the policies required to be carried under the provisions of Article, T° VI hereof . The Company shall pay all costs, expenses, claims, fines, penalties and damages that may in any manner arise out of, or be imposed as a result of, the failure of the Company to comply with the provisions of this Section, Notwithstanding any provision contained in this Section, however, the Company shall have the right, at its own cost and expense, to contest or review by legal or other appropriate procedures the validity or legality of any such governmental statute, law, ordinance, order, judgment, decree, regulation, direction or requirement, -7- 1 { :�i. � �{ :F T�i��3( )r'a4 , .s . r t t t t 1 r ��1 'A,�'•s:Y" r r. �F' � li.}�nr+t w"`l v(, 1 ..t, a !. i t :, ! .. s• tL"kta 4}„`�+ tC�^ to,ytr,, n"i It �`'.,�. .—.' =.'3•��Y ,,�/tr31q �. � ,. ''+ ' t (( y,, . .aa i r F��,Y7t J f�'�' :Y.� . t ��(E,I S� 15:� ;,} ♦•�r 1 13 1 1' lY - 1 � ! {{}� :�' i'e ' B ,fiat7��'{5 �Lp� l r . .F�.. s t - f r d t ,+ri:�2 �.�,t �. �y•' t{ vl ,t .: } t .,' ,3 't .y ; .1 .6- •,.yk tkr k 'dla. 555 .`:} 9 ' , , !• v a c� f � � G .FCt d.{}S v? .�j',ar;yi Rti�•�a.l k�;err a..,�a�r �CA� ''•rtt k�,is �3}, �'r�'r�py.+ •fry` Is'r?FR"M ,.'t' n.�{9fi t�Ar�.zi :z'f.... 3a.,�.`rr:k2..,.I.F,t.,.�.:±.}„s ti, .{,r. x,..:�; .ci,.:i.f :'f�:'• 1_..,, S 1 }; . . >pt+s..•p V or any such requirement, rule or regulation of an insurer, and i � kart during such contest or review the Company may ref.rain f rom : ry-s;=,;.j complying therewith. § ' r - . ARTICLE IV PURCHASE AND CONSTRUCTION OF ANY PROJECT ADDITIONS OR ANY RECONSTRUCTION OF THE PROJECT Section 4 . 1. Issuance of Additional Bonds . (a) The Issuer may authorize the issuance of Additional Bonds from time to time upon the terms and conditions provided in Section 209 of the Indenture for any of the following purposes • S ilYS' 4: (1) To provide funds to pay all or any part of the costs of repairing, replacing or restoring the Project in the event of damage, destruction or condemnation thereto or u„S Y thereof . yz�Fr^ t t.ti tt. (2) To provide funds to pay all or any part of the r i r' tjt costs of acquisition, purchase, construction andi . installation of Project Additions as the Company may deem necessary or desirable and as will not impair the nature of ^'' :. ,•>`, the Project as a processing and distribution center within ' °4<:{'_ ' b the meaning and purposes of the Act . (3) To p rovide funds for refunding all of the Bonds then Outstanding of any series , including the payment ofs .xk,:,; any premium thereon and interest to accrue to the ;, 1fiA,: designated redemption date and any expenses in connection ; '. with such refunding. The terms and provisions of any Additional Bonds shall be subject to approval of the Company and shall be set forth in u ; s the Supplemental Indenture (as defined in the Indenture) authorizing such Additional Bonds. (b) If the Company is not in default hereunder, the Issuer will , but only upon the written request and direction of the Company, from time to time, use its best efforts to issue the amount of Additional Bonds specified by the Company; provided that the terms of such Additional Bonds , the purchase price to be paid therefor and the manner in which the proceeds therefrom are to be disbursed shall have been approved in writing by the Company; and provided further that the Company and the Issuer {. shall, if necessary, have entered into an amendment to this Lease to extend the term of this Lease to coincide with the =� date of final maturity of such Additional Bonds, to provide for additional Rental Payments in an amount at least sufficient to pay, principal of , premium, if any, and interest on the Y Additional Bonds when due, and the Issuer shall have otherwise AAk complied with the provisions of the Indenture with respect to the issuance of such Additional Bonds . 4� -a- -{{ a. . .1 Yk� Af3yt:sT fl5cj�' ' 3, .�' 7 ,'s 1. wd+� �n �y�,.}i��F r v1?`�'.t� r � "� r•) r'r ,�.; f y z .}I 'C ri Z 5�:�3 \ �5�s,�.i ^?. `t •1}k 4 #�`u�{�A,1y,&},9fY'C�t a�M1 r a("y{ i'�'!Y,} l }.(}S; S 1'tz 1 .i r 1 y.; :r t` 5 s 3 r i',:l ...7t ?;,�3•V�.�7.��, '�y'u Y z•{ ?lF” i�-� y�k;.l ,�'Fyr. . ti riz;`a ,�Y �n t i 4 Y , a' ,x' .t � , W rf(.t a iy r ,,k',{{,-�•�` .. S.S3.�, !> t!r t q:�r' r t 4 jar p. 1 N d 1 f ,1 1,.. •"c 3. .Y 4's` K ..:clr =c',i.�U r t ,.R'4'f'•`fl4it± .rs ,4#'! t �l.. .� "�� rF �: i�� ,.i f 4`•J. t�.1�' i i :,,F . (. y 3 Ptra�a z3,�. ;,� ,,y r , :y t,}..�,y.,l r ,i 4 .,1.<'. ✓ ! ' <i �'4`Yj tti ' i�hi'rY k. x , ,,2 .{ h4arj+�a S.4 et'"f i-4f;Y rJrt9.f .tit .�. r 'e�`t „ ii' i. ��i. e L .f.:T 'ifr,, ��5'�`v°t{•4�'.�, �, .� ;3•c i• '"g r�. 4 .pA z ..;,.} :.:' '' ' : '.°- . . }.' u k') \r.. . . 1';.� s .,i ,,, >t3.r�:, ,n '^.:1°,��'k��':�'•?`.:�,5�,r..,� '3�4#,, '`��i• ".f4 }... .s,t., .. t.. .. .. . :�• .. yS .. .... t�`C�*3�s.r tF} '! •q � � �{pT�'� up1°A.i4.''N c .•f ` Rl .3,r Y 1,��ZkYi'i4��.41"�;ia �'J 1)T'M h t•� .{�i Y i i r' 1't } Yl A 4'. ( 1 'G i Y.,�.��_ .� ✓ t 'Y.w1.•r,w»...wr•r9aa4em;>•01>i4t1�� ;a Ut• ✓.':d•, 2.+-Yei,r }9t.....,,.zt.,f,.. ,,. .... ... +rr..,7.'lr ....<,.L..:it t,. .N.1:..,i .f..'4:.i.� Section 4 . 2 . Purchase and Construction of the Project ` The Issuer and the Company agree that the purchase andr ; ; 'a construction of the Project from the proceeds of the Series `?' : :'•'. 1983 Bonds was completed in October, 1983 '` ' Section 4 .3 . Payment for Project Costs . Upon the issuance of any Additional Bonds for the purpose of paying the cost of yf' moneys Project Additions or the receipt P t of any for deposit into ' the Construction Fund in accordance with this Lease, the Issuer hereby authorizes and directs the Trustee to make disbursements from the Construction Fund, upon receipt by the Trustee of certificates (in substantially the form attached hereto as Exhibit B) signed by the Authorized Company Representative: (i) requesting payment of a specified amount of such k° funds and stating the name and address of the person, firm r: or corporation to whom such amount shall be paid; (ii) describing in reasonable detail each item for '' ` '" li. which payment is being requested ''`;N (iii) stating that each item for which payment is rt 'r ( ) g requested is or was necessary and appropriate in connection with the Project, has been properly incurred and is a =try=r proper charge against the Construction Fund, that the ` `k'= f' amount requested either has been paid, or is justly due, and has not been the basis of any previous requisition from the Construction Fund and that such amount is subject to capitalization for federal income tax purposes; x '' (iv) stating that, except for the amounts , if any, stated in said certificate, to the best of their knowledge } there are no outstanding statements which are then due and ^ J4, payable for labor, wages, materials, supplies or services in connection with the purchase and construction of the ;k Project which, if unpaid, might become the basis of a vendors ' , mechanics ' , laborers ' or materialmen` s statutory or other similar lien upon the Project or any part thereof, or setting out (i) all disputed statements and the reason for such disputes, and (ii) all statements in process but not yet presented to the Trustee for payment, and (iii) the work has been performed in a good and workmanlike manner; and Y (v) stating that no defaults or events of default have occurred and are continuing under this Lease. a The Trustee may rely conclusively on any such certificate and shall not be required to make any independent investigation in t' connection therewith. k✓ ,}Y -9- !Y tV' r�r fK7,-T 4. 1 7 { .•c a .*t,+'tYZ�,{}'+k�, s Y i 'V �i •F ih q z'l ,t f !�•}{;'�!'. • { 4yr, 7'•faxt. 1f�F"".1/('ir ', r�tF ny�3 i^ r#Tt y. .r`,It ,,s.'1 :s ` c� } ti+ Y� ;L. .,,'S.:�' r. •v,,xr ,. C }s'(� },^�� yy 77�'� 'rr t i( ..�,1Sr err t PE � n !; •lp t 4' r r.. ,g){.rfi3`C},S '�''_ �.,,I? d ';d� °jt.0 ,''?� ,� �.i- t`t t+.}y,c:�c j b i is rt �ht�. t tY .i ''S r ti r f .7. :� .,'i tai sj'{r{.,pA :l•"3' 4, •. '�# ' �,�S,ta�{. �},k+.• t �y��r,Zj,, i% s��'+.1.42x,�kr rt ., ; t .;,•t 7 _ 7 � ,•. �. t t :13'''l / j ..t{%•'"-'�,', 7,+Y�i`'.'7i .�.<.,t .� !_T l:, r, , i tC} .rax li N i�4 .�k'rs''k{.`..:�r�,�`,'j ,� �y •iW ..'*.{tyt. .N{{vyw��' �''ji :N' \ � t ,1 , F �:'TL't { �{,. yy�;,1 �..� Y tC';Y',agF 7 .t#,.• ;szF`5.�.'3 .ttrr•'•'.�z� tt..xyY i t :� .i :+'• � ` r i ..f,Xrs}r:?f i'Sl�.s�j`t,��7.. '�.�$ p ��..•7 t,Yr r '4:�bt!+ ;;.£ r;:3 + � r i � � i �r3�,,r�g st��<t��,§�� f i �k ' ' t i Jt ott a�i t l• a t .• v ..t ��+�`��'��.1 � aZ.{. 4w x�•.xi,..A..a.,:....t�,><uwtx'.xx'.e�'*�?',�i'.''xu ats.7r .Y ,J,.. _. .. Y .. , ., _ ,. .:. ... :. ., ,,. r Section 4 .4 . Establishment of Completion Date. The Completion Date shall be evidenced to the Trustee by a xrt R. certificate signed by the Authorized Company Representative ,uatl 4 stating ( i) that the purchase, construction and installation of the Project Additions or any reconstruction of the Project has been completed, ( ii) that all costs and expenses incurred in ( the purchase, construction and installation of the Project y, H Additions or any reconstruction of the Project have been paid ask except costs and expenses the payment of which is not yet due , .y or is being retained or contested in good faith by the Company, and (iii) amounts to be retained by Trustee with respect to item (ii) above. Notwithstanding the foregoing, such certificate shall state that it is given without prejudice to any rights against third parties which exist at the date of such certificate or which may subsequently come into being . The Company and the Issuer agree to cooperate in causing such s� d. certificate to be furnished to the Trustee. Upon receipt of ;, + such certificate, the Trustee shall as provided in Section 504 of the Indenture transfer any remaining moneys then in the :?',:'•>;. Construction Fund (after making any transfer required to the Rebate Fund) to the Bond Fund to be used as directed by the Company to: ( 1) redeem Bonds, (2) purchase Bonds on the open market for cancellation, or (3) make payments of principal on the Bonds . The amount so deposited in the Bond Fund may bei' a invested as permitted by Section 702 of the Indenture to produce a yield which is not greater than the yield on theF' , .:; Bonds . Section 4 . 5 Deficiency in Construction Fund If the Construction Fund shall be insufficient to pay fully all costsq+\s `P`'y. ` necessary to complete fully the Project Additions or any reconstruction of the Project lien free, except as to Permitted >r Encumbrances, the Company shall pay, in cash, the full amount kk ' of any such deficiency by making payments directly to the contractors and to the suppliers of materials and services as the same shall become due, and the Company shall save the +Y$°`u` 7" Issuer whole and harmless from any obligation to pay such {=`r deficiency; provided that the Company may be reimbursed from . +' . the proceeds of any Additional Bonds. Section 4 .6 . Machinery and Equipment Purchased by the Company. Any item of machinery or equipment the entire purchase price of which is paid for by the Company with the 4� Company' s own funds , and no part of the purchase price of which is paid for from funds deposited pursuant to the terms of this Lease in the Construction Fund, shall be the property of the s, Company. Section 4 . 7 . Investment of Construction Fund, Rebate Fund and Bond Fund Moneys Permitted. Any moneys held as a part of the Construction Fund, Rebate Fund or Bond Fund shall at the written direction of the Authorized Company Representative be invested or reinvested by the Trustee, to the extent permitted f v'S i f 4-1 �.r}c xJ rr r !F l e{ .kP i' 'j i - i •,X4 t`' 4i aY+� J is t..zxgr•� 1 t tf+ , r#{? � r r `; ' + {r r • .3) 's�tv(, r,-att.l: tr`tb4�fi, 'Hit t a fMJJ,>l } P IN s �� .Jr r) z t �tTr yhm r x,�i'��..lfle•{�.�'t�.�"'�`fi�� "d`��1 � '.Y+khweh,uhn.�.a..ux..rMfArbH3tt+ �t$�fk<k,'v'rtn.1-, ``e.�.� I..Yi. 1 :S't. .,t . t ... .. ...,rv. .. d .t ... ,:.�✓��1 r; ,.n., �;5..�,. .� ., :', • by law, in Investment Securities (as defined in the Indenture) rn. ' .` in accordance with the rovisions of Section 702 of the Indenture. p y )t ti;fir! ARTICLE V >' PAYMENT PROVISIiONS }, Section 5 . 1. Rental Payments. u,> s ' (a) The Comp agrees an covenants and to make �'�`�;�'ti:•�>� Payments to the Trustee at its principal office for the account fit" ..' of Issuer during the Lease Term, for deposit in the Bond Fund on or before 11: 00 A.M. , the Trustee ' s local time, on each April 1 and October 1, beginning on October 1, 1992 , (or such `tX other date as shall be a Payment Date) , in an amount which, ` when added to any money then on deposit in the Bond Fund and �fti l available for the payment of principal of, premium, if any, and interest on the Bonds on such interest Payment Date, shall be equal to the amount payable on such Payment Date as principal , premium, if any, and interest on the Bonds as provided in the ;;r:3; . '' Indenture. All Rental Payments provided for in this Section shall be paid by the Company directly to the Trustee for the .:,ku;;? account of the Issuer and shall be deposited in accordance with ;.<<:.;, the provisions of the Indenture into the Bond Fund. The amounts deposited in the Bond Fund shall be used and applied by �t M1VIK the Trustee in the manner and for the purposes set forth in the Indenture. (b) Each Rental Payment under this Section shall at all times be sufficient to pay the total amount of interest and FV. r•. " principal (whether at maturity, by acceleration, or by redemption as provided in the Indenture) and premium, if any, ` ' ," payable on the Payment Date that such Rental Payment is due; ' provided that the Excess Amount (as hereinafter defined) held by the Trustee in the Bond Fund on a Payment Date shall be a credited against the Rental Payment due on such date. The term >' "Excess Amount" as of any date shall mean the amount in the Bond Fund on such date in excess of the amount required for payment of the principal of the Bonds which have matured or ; which have been called for redemption, and premium, if any, on such Bonds and past due interest in all cases where Bonds have ik not been presented for payments Section 5 .2 . Additional Payments. The Company shall pay ? as Additional Payments the following amounts: OF sp (a) All fees, charges and expenses, including agent and ; counsel fees, of the Trustee and the Paying Agents incurred' under the Indenture, as and when the same become due. 3 .f 5 T� }, d T A'Y}.ry .yam•``jp ' f'? tt} •f .r.. ^rt- <+s Tt ,-{^.. 4 , 5� +{;� `f � �...t r $!'N xa r'Z I r '.Its 1 t i .{: 1 , t r ti'i i�y'y r.I JA 1:�'��3F,•,'y �^, ' .{".�'i t�� .ty,.sl°i'$.i 1 4 S+ ..`�1,v1,> t,{ f:r .r:..3 , r ` I: '. ', '• ,, r t' .,s. ,, tJt rl 4 L.t,,1�. Y.�r 4 ",�,� r. t�¢.t ,tif '.fit r'*'}t� /.�'` �4� ✓.;.. t ?r• � t,t' , t t ',1a, ?'iY't'��.+ d `�{tj�y. .t. �u� • L.t�3# 4•`„x,,a L ,S. !rc{ !K[r .i �1! � h Xr i"� :S "i'. .i :r " 7 v�' t.'.( i t ,��y�f'�t-f.,l�rv't �+ �: L i r iks .•it r' r;� x:e, ,d�`'y`,'}.'?3`�;�•,"?��t{C ro,.�t�F�° f :! rr.l.t.��?' a }t t� ) *: •!, tfa :i`r ',,C�. ..r,i,��'�'-;.+y.{� '�',� 1 J '"�� ,tt��, t a 1 r 5c:a.,rl '�#�''`h t @� uk•�l�Yrc�t �4at+�1 JtS. d„ tl' `awta�+ .ti. ..:r?��S fi.a t 7 sa,;. '• a t��. ^''S1_ t , # . v, .Gt•r.�...'.�•i'rxdcarr3tk?A. '�S,i�;•;t".,cKi[sl P�.:",#�,.•f� 4t.„ G,- £ w �. 1 �r+ �i > tt .., . � ,.t,(i "�st�,' g ti�rr ,t Yl•�,y�'!�,} .yy��. •"Y t'� `� y ifa'b. •• ki t (b) All costs incident to the payment of the principal of, t} premium, if any, and interest on the Bonds as the same become ' v ? y� due and ,pt a. z>� payable, including all costs and expenses in connection ^ ) with the call, redemption and payment of Bonds . u= t7 h Kf'�I r (c) An amount sufficient to reimburse the Issuer for all tV expenses reasonably incurred by the Issuer hereunder and in connection with the performance of its obligations under this Lease or the Indenture.;, (d) All expenses incurred in connection with the enforcement of any rights under this Lease or the Indenture by the Issuer, the Trustee or the Bondowners. tiu. (e) All other payments of whatever nature which the Company has agreed to ` p y g pay or assume under the provisions of this Lease. (f) All payments required under the Letter of Instructions or the Indenture to be deposited into the Rebate Fund. Section 5. 3 . Obligations of Company Absolute and +'' Unconditional St { z z.rr • (a) The obligations of the Company under this Lease to make Rental Payments and Additional Pa yments on or before the the e same become due, and to ?e{ " perform all of its other :��>•�3'�f�,;. obligations , covenants and agreements hereunder shall be absolute and ., unconditional, without notice or demand, and ` without abatement, deduction, set-off, counterclaim, ret • � , coupmen rtr•t i��f��Y.. 7 or defense or any right of termination or cancellation arising from any circumstance whatsoever, whether now Ke��lt ' existing or hereafter arising, whether or not the Issuer 's title thereto or to an y part thereof is defective or nonexistent, and notwithstanding any damage to, loss, theft or destruction of ` the Project or any part thereof, any failure of consideration ; or frustration of commercial p y pur ose, the takin g b eminent f domain of title to or of the right of temporary use of all or any part of the Project, legal curtailment of the Company' s use 4.: thereof, the eviction or constructive eviction of the Company, ` any change in the tax or other laws of the United States of >` t America, the State of Missouri or an y M1i�• thereof, any change in the Issuer 's legal lt organization or status, or any default of the Issuer hereunder, and regardless of the invalidity of any action of the Issuer, and regardless f o the invalidity of y any portion of this Lease, and the Company w hereby waives the provisions of any statute or other law now or hereafter in effect contrary to any of its obligations, covenants or agreements under this Lease or which releases or ,. purports to release the Company therefrom; provided that any proceeds received upon the re-rental of the Project to a third party shall be credited towards the Company's, obligation to make Rental Payments and Additional Payments . -12- t 3 ,a .h X ' 1��/ �;'ak('�. 'r�, fit'?y�!rJ�l1 ^+ts•x£; ��t d 2 S ,, ' .�' r ?t •n, .t i f,''1 t ,� . .t'' ':. 9{y i��,��.'°( Yh{'}."r'!ti!'i�1t 9 1>l :ti'�h;t � ' tt t 1. +.. •ti.} .r h't: } t'U'p J �'}tt' . „a �p�tfie{.� r . r.✓tts' 4S1j sts<:7tt; t,ti+t`S {.:� �. .v�j+• F '.;a S " t � t 7 ..r 7,k }t.+ h f{AT'2c". 1 �'• %'x . AA,,''! x�.r<2�,�A�F��i��4��t�f C}'�:��a��`. ;r rcY t 7 .t'�•htk } t. . ; t ,:.,i d:{ ��+` � � •1 rat 3 +.r it ?A ;. i�t "tt;,r q''. c.6.:e h„' r Ti. l v,'t? • j' ! sn. t-t'rt,;fis .s� ..S ka, r E'r '.#,+?.Yrt.'t t.3'^:;l:hi�'^�'t`_r ✓(. '� .f... ` t,y,•,sv ,�L u. ,r: + ''.:i "e k: ..! {n� f, ,i t zit3;.�ts�"��'�..� .''�• �r„ ' '.` `dJ r. 1 r j J• , t! 't :. t..p..x1 qS t'yA,b'f�,�{�k4 N,,y�(f}` ids" b„-. ,.,.s .f't f, r i t t .�! ;sY�3 t^"t t't 7� ;YS+xv".r"'1 t �• r�7 5 1! k•dll A ' � ?{,r. �, tai t t5>t r"' Sdj'11t¢zti �i, �Srr•,,: t1' +'y, `�"'•t ,Z^� _''�� r sli y � )a��r°r`�kt?��*��t� �S ti ui—'o .��h. a ,v... a..h> •t, , �r S . ` .r• Y {. .. ... .. f . f ,.it. � kiK' y r'.WravA.ti1n:.rnrr4eK� aR'A* 1 .... �'A 1 qV4 (b) Nothing in this Lease shall be construed to releasekr- }ti,,> ;; the Issuer from the performance of any agreement on its part C ' herein contained or as a waiver by the Company of any rights or claims the Company may have against the Issuer under this Leasefl *` s or otherwise, but any recovery upon such rights and claims shall be had from the Issuer separately, it being the intent of R this Lease that the Company shall be unconditionally and �hti1r„yp Ala,,. absolutely obligated to perform fully all of its obligations, agreements and covenants under this Lease (including the obligation to pay Rental Payments and Additional Payments) the benefit of the Holders of the Bonds . The Company may, ' ::> f � ''`°. however, at its own cost and expense and in its own name or in t the name of the Issuer, prosecute or defend any action or proceeding or take any other action involving third persons ;,;:.,, :<:•,_ which the Company deems reasonably necessary in order to secure ,. or protect its right of possession, occupancy and use hereunder, and in such event the Issuer, hereby agrees to cooperate fully with the Company and to take all action necessary to effect the substitution of the Company for the Issuer in any such action or proceeding if the Company shall so request . Section 5 .4 . Prepayment of Rent . The Company may, subject ,,p,:.,,,,_. `. .,. !y. to the covenants contained in Section 5_3 hereof, at any time it may choose prepay all or any part of the Rental Payments provided for under Section_ 5 . 1 hereof, and the Issuer agrees , ? that the Trustee may accept such prepayment of rents when the same are tendered by the Company. All rents so prepaid shall ' be credited to the Rental Payment s specified in Section 5 . 1k ?.r. hereof , in the order of their due dates , and at the election of ;.!' hr F�37 the Company shall be used for the redemption or purchase of Outstanding Bonds in the manner and to the extent provided in the Indenture. • ��rj4fTi��f.'�� Section 5 . 5 . Redemption of Bonds . If the Company is not a ` a+ in default in the payment of Rental Payments under Section 5. 1 uz4 hereof, the Issuer and the Trustee, at the written direction of the Company, at any time the aggregate moneys in the Bond Fundh;. 4. . are sufficient for such purposes, shall (i) if the same are g; .• then redeemable under the provisions of Article III of the Indenture, take all steps that may be necessary under the m. applicable redemption provisions of the Indenture to effect the redemption of all or such part of the then Outstanding Bonds as .}. .}. may be specified by the Company, on such redemption date as may be specified by the Company, (ii) cause such moneys in the Bond ' Fund or such part thereof as the Company shall direct, to be y f'. applied by the Trustee for the purchase of Bonds in the open 4{i market for the purpose of cancellation at prices not exceeding 4 the principal amount thereof plus accrued interest thereon to the date of delivery for cancellation, or (iii) a combination ' of (i) and (ii) as provided in such direction. ” 1 di4 •r'i� -13- ;; c ,a, d: --^---- 1 a"""" i '.r`—�tKgs�ib.r,�S1�i`.+tr�a �eu�Sri7��fis+sxv�w"wir"w."" "'t 1 1 �. .c�f� i.;r.ky�"•�;.' r. t.`�� .Qwi z`S qt z �t r4y tnn r ,� 1 t 4f q�i } i srFtr'!,,. c 1 r .i .,li r ¢ i.' i,. t. .i ti JG{'ix Y��{il.t it '�•' .'�+•.b. t'.. v,'t7'`trki `'. •tJga,:Ssr:ii*, r'f.5r' .t1{".tq-ik aA;fir. ri. r!. t:`� .E y'�t.�✓�Nwi�t ft•�'ti q, a,.. i .,g,':, Tt, .rv..•i..'. . ... ,f! s f YY �j;a a. ,dt. ... i sr�� . . Ilk P,r....+ . ..x .rwMVxx*.,tL°+Y;Y.NE'fSI;':ly} ?nr 3.}.sK�#. .� .... ARTICLE VI 44 MAINTENANCE TAXES AND INSURANCE x Section 6 . 1. Maintenance, Repairs and Utilities (a) The Company shall throughout the Lease Term at its own expense (i) keep and maintain the Project and all parts thereof "' ; .: in good repair and operating condition, making from time to time all necessary repairs thereto and renewals and a ' , replacements thereof, and (ii) keep the Project and all parts t' thereof in safe condition and free from filth, nuisance or ryLTgrnY. . + conditions unreasonably increasing the danger of fire . (b) All utilities and utility services used by the Company in, on or about the Project shall be paid for by the Company I- N and shall be contracted for by the Company in the Company' s own `^ name, and the Company shall, at its sole cost and expense, procure any and all permits, licenses or authorizations connection therewith necessary in Section 6 .2 . Taxes Assessments and Other Governmental Charges F`rt`z` r,h (a) The Company shall promptly pay and discharge, as the '``u�n� ; same become due, all taxes and assessments, general and special, and other governmental charges of an kind whatsoever that may be lawfully taxed, charged levied, assessed orYFa, � y. imposed upon or against or be payable for or in respect of thek ^ Project, or any part thereof or interest therein (including the leasehold estate of the Company therein) or any buildings , '�sf ;iF, improvements, machinery and equipment at an time installed p y Y thereon, by the Company, or the income therefrom or rentals and other amounts payable under this Lease, including any new taxes and assessments not of the kind enumerated above to the extent �!!; . . that the same are lawfully made, levied or assessed in lieu of ' or in addition to taxes or assessments now customarily levied k., against real or personal property, and further including all ze utility harges, assessments and other general governmental y #` charges and impositions whatsoever, foreseen or unforeseen, R 4vy ' which if not paid when due would impair the security of the Bonds or encumber the Issuer 's title to the Project; provided 0. that with respect to any special assessments or other . governmental charges that are lawfully levied and assessed °. _ 'r. which may be paid in installments, the Company shall be a: obligated to pay only such installments thereof as become due and payable during the Lease Term. (b) The Company shall have the right , in its own name or in the Issuer ' s name, to contest the validity or amount of any r . tax, assessment or other governmental charge which the Company of is required to bear, pay and discharge pursuant to the terms 'h this Article by appropriate legal proceedings instituted at least 10 days before the tax, assessment or other governmental •y� Y -14- . k .E � s -e?..rr .r "_,•"F" � T,cS'Sak'a ?yw"',""`... It i s. } `=� ;r�i'r��a>iT'r� 4Ji .��r � .;� :. f' .,.s Y �,. r"r,�'SFr'j di,i • %P�+._, /r .,/, .. .',E; fi �is r �K.f.Y :i k x s ., 1 7 T 1I ' {� .:f r.r y yi[ �t��.S;{ ��J • ,� S {�� '�, i'3 1: v/,,N { t Y'i:3. k ✓l S gr'yr� A.y4 ?ti,. r}JFt �3 7Z 47t � { � y• ft is } 4t r' �� P� �: ''�",, o$�*' , ti.Jc�`t: tytf�s+. ¢sL :y r 1. . . t ! t. F .+�`'Y��S17 ( �'� rkJRb �'N{•:� :,ky�t1 ��5.. ,.r: i, .,t.( ) +,',{++;r sa. �, •�:x,,, .,� L i7 ..f i.. 1., :.tt, ^"r ,Cr.i Y s' Fi J t, ds ,a .+l .�.i#•� $ ��A'L47, f �'t,,.. ,�}c>• 1 rs i$" f t JYF4` fig` ,. .. . . n.vh 4Y `.5L•. iY�.`i. ,ptq "r7 15. charge i ' lit r charge complained of becomes delinquent if and provided (i) the _ Company, before instituting any such contest, gives the Issuer written notice of its intention so to do, (ii) the Company diligently prosecutes any such contest at all time y y prevents an official or effective) stays or , s Y judicial sale Y3 }} therefor, under execution or otherwise, and (iii) the Company �Y promptly pays any final judgment enforcing the tax, assessment or other governmental charge so contested and thereafter promptly procures record release or satisfaction thereof. The { :rn Issuer agrees to cooperate with the Company in connection with k , any and all administrative or judicial proceedings related to :,,:t.°•f:i��,. w.- any tax, assessment or other governmental charge. The Company �•a F<<:,,.,.,. . shall hold the Issuer whole and harmless from any costs and expenses the Issuer may incur related to any of the above. j Section 6 .3 . Title Insurance. The Company will purchase, t on behalf of the Issuer and the Trustee, from a company duly qualified to issue such insurance in the State of Missouri , an owner ' s policy of title insurance, such policy to be at least in the amount of $3 ,250, 000 . A copy of said policy or a commitment therefor will be delivered to the 'Trustee by the ` Company on or before the date of issuance of the Bonds . The Net Proceeds of such policy shall be applied in accordance with ;a the provisions of Article VIII of this Lease. Section ;:,.,;.�•.:,�;.:<>-, 6. 4 . Peformance, Labor and Material Payment ,h Bonds . The Company covenants and agrees that at all times `:F,M�S5}•i`` during the construction and improvement of any Project Additions or any reconstruction of the Project, the Company or the contractors under any construction contracts will maintain . } in full force and effect performance, labor and materials,; } payment bonds with respect to the construction contracts and in <- r : ry '; the full amount of the construction contracts , roads by the contractors thereunder as the principals and a surety company or companies qualified to do business in Missouri as surety. Such bonds shall be in such form as is approved by the Trusteero. and shall name the Issuer, the Company and the Trustee as obligees . Copies or certificates of such performance, labor r • , and material payment bonds shall be delivered to the Trustee. Any and all moneys received by the Issuer, the Company or the Trustee d k i •i usee uner such bonds or from any of the contractors or .A• �;yM• �hY other suppliers of machinery or equipment by way of breach of 'i contract, refunds or adjustments shall become a part of and be ` deposited in the Construction Fund. Section 6. 5 . Casualty Insurance. i t (a) The Company shall at all times during the Construction Period maintain at its sole cost and expense, or cause the contractors under the Construction Contracts to maintain, in full force and effect a policy or policies of Builder 's Risk-Completed Value Form Insurance insuring the Project against fire, lightning and all other risks covered by the u extended coverage endorsement then in use in the State of -15- s<. Ka z y�•j ,Y. v�r ! s � •f�{C '��`�`��'�I��.n j1{��,c�. ��•�ijp v.h:; ..lt .:j t ' xt r. ;�;.{ t 2��T}4t'"�.tt �j," �F •ar',�x�° }k �1 ��''}l�,cc, { t_ . .•+�f S ., :. �. .n t � r .t t� tt , `'fit'' ;4'!!. , i 7 tAi ,4 }i� s+{ ,{ fCr•"tt r .' Yi t ✓ .74t. .t'Se' wr't" .t ?xf�� § t�;tLtiY'�$`tr.�<',',f„�t>1rl�.i j. t` t . . ; t i :.`.: �.•'' ._ .. ( f.1.1 si,ti e.'�rrc�#�t��„?r�`. � ir,•” . � ar •nr j��.��4=+> �i $1�s� , x; tr �;r .1.., <f, , „ a t,Y��i,,��,s��,3 a q ,.� `' Y"✓ 1 f t< • "c v�[ •t Y frl .'i 1 i ',�''ry�l,�iY.�` t H .,t,�.. y ,e R v..X ry 4 .'. [. � 'k• 1 d xR.} f 1.r�' t v£ + i� t"'v f t.a{r 7+A F '. rwaur .K+aeay>�?. tt,<:fie;xY :fi 3ni.f •, a ........ .. ..... `, ;`r Xit f ks. }tom i r» t, {Y t . {� Missouri to the Full Insurable Value of the Project (subject to i reasonable loss deductible provisions) . Prior to or `E ,T` simultaneously with the expiration of said Builder ' s Risk ' ` Insurance, the Company shall at its sole cost and expense obtain and shall maintain throughout the Lease Term, a policy or policies of insurance to keep the Project constantly insured ; against loss or dams " "` r:. g damage by fire, lightning and all other risks covered by the extended coverage insurance endorsement then in use in the State of Missouri in an amount equal to the Fullf ,, Insurable Value thereof (subject to reasonable loss deductible clauses) . The Full Insurable Value of the Pro-ect shall be } �"'`' ' ` determined from time to time at the request of the Issuer, the Company or the Trustee (but not more frequently than once in ever five y years) by an architect, contractor, appraiser, appraisal company or one of the insurers, to be selected, a subject to the Trustee' s approval, and paid by the Company. The insurance required q pursuant to this Section shall be it ro.a maintained at the Company' s sole cost and expense, shall be maintained with generally recognized responsible insurance company or companies authorized to do business in the State of Missouri as may be selected by the Company and shall be in an ' amount equal to the Full Insurable Value of the Project . Copies of the insurance policies required under this Section, ,` =;A ', or originals or certificates thereof, each bearing notations � . evidencing payment of the premiums or other evidence of such payment shall be del All delivered by the Company to the Trustee Y such policies of insurance pursuant to this Section, and all ,y1;iryK renewals thereof, shall name the Issuer, the Company and the Trustee as insureds as their respective interests may appear, shall contain a provision that such insurance may not ber�;yt"` > cancelled by the issuer thereof without at least 30 days ' advance written notice to the Issuer, the Company and Trustee, ' f and shall be payable to the Trustee. The Issuer and the V Company hereby covenant that each will do anything necessary, be it the endorsement of checks or otherwise, to cause such 'N t. payment to be made to the Trustee. (b) In the event of loss or damage to the Project, the Net Proceeds of casualty nsurance carried .k ,x � , 7. y pursuant to this Section shall be paid over to the Trustee and shall be applied as provided in Section 8 . 1 of this Lease. Section 6. 6 . Public Liability Insurance. ., (a) The Company shall at its sole cost and expense `ia maintain or cause to be maintained at all times during the ' Lease Term general accident and public liability insurance (including but not limited to coverage for all losses whatsoever arising from the ownership, maintenance, operation or use of any automobile, truck or other motor vehicle) , under which the Issuer, the Company and the Trustee shall be named as r insureds, properly protecting and indemnifying the Issuer and the Trustee, in an amount not less than $1, 000, 000 for bodily injury (including death) in any one occurrence, and not less -16- 7,77-7 SPA i .,5��{ � .�7i r�•i.�td# rt•' 1{�t c ';1 .� ; ` !f ri'S �'�2�v1 a�7++£�^�,,t� 7r• i �:� '��. f+, #`7�c�13cb#y r r � Awl )rf q ' i�. 'y 4 F ij7}S cF� �7y.�'t'jy''�,4+��Sr@`Rr' ,a�t 1W` f.7Y.t•, .'#, tt, ( + 4 { :.� 1�4' `R�n f c GLa rte•'! . '•n. ..,:1. +( t' rr` r 7fF � y�r3{ f 5 �4�(y r dy } ;.:-. b�} ztsre to ye yAl�,• ri°'n'`` y n '..c:}r .-'7 55 )r 3��'}e�4i,r"k�.. t e ' than 500, 000 for property w � � pro ert damage in any one occurrence. The �,;��, •�;� Policies of said insurance shall contain a provision that such Ninsurance may not be cancelled by the issuer thereof without at 4 ' least 15 days ' advance written notice to the Issuer, the h Company and the Trustee. Such policies or v certificates thereof shall be furnished copies or ;ar4;,j;f fur to the Trustee. e event of a public liability occurrence the Net Proceeds of liability insurance carried �., Section pursuant to this shall be applied toward the extinguishment or satisfaction of the liability with respect to which such proceeds have been paid. Section 6 . 7. Workmen 's Compensation Insurance . The Company agrees throughout the Lease Term to maintain or cause to be maintained, in connection with the Project, the Workmen 's Nftit:tf" . Compensation coverage required by the laws of the State of Missouri . Y i Section 6 . 8 . Blanket Insurance Policies . (a) The Company may satisfy any of the insurance Y ' i requirements set forth in this Article by using blanketf '' r{i'; ; Policies of insurance, provided each and all of the requirements and specifications of this Article respecting insurance are complied with. p g ; �t, y'I Y�•s..''.-Si� is�n'�i.p• ( Upon the written request of the Company, and withoutf'""rc'J4 the consent of the Bondowners or the Issuer, the Trustee may a x, . permit modifications to the insurance coverage, including ,;< ' permission for the Company to be self-insured in whole or int=grP " part, for any such coverage, taking into account the cost and availability of insurance and the effect of the terms and rates ;}...Y ; , of such insurance upon the Company's costs and charges for its services . The Trustee may rely upon a report of an Insurance Consultant chosen by the Trustee. They Trustee to make such modifications shall not b e sunreasonable withheld. ARTICLE VII REMOVALS, ADDITIONS, MODIFICATIONS AND tj .. IMPROVEMENTS OF THE PROJECT `" }; Section 7. 1. Release of Certain Land from the Lease. , Notwithstanding any other `,yr� provision of this Lease, the parties hereto reserve the right at any time and from time to time upon F( mutual consent to amend this Lease for the purpose of effecting the release of and removal from this Lease and the leasehold estate created hereby of any unimproved part or real estate constituting the Project Site parts of the Project Improvements nor any Project Equipment are nsituated) ; N ix•' \ -17- t : f �i fo5rt t Tcc}""S�J.] f rf ) � !R ijci`! "'f ? k�7' 'M»iw".^` r.-.. •u x1�t��}.��;."r.;l: 'tY/ f'r'f'"-I rte } at k 1 i i n r. t f'; ,'?�tiXd`r'.'d..'{-vr:•j '� ait '�i ... +i��ja�,i t � ,3,d. t<,y .r /` , -,' ' ' . t 4 't �P.�`t • # px• `'-y r''�'•i-s.�li+'n�"'f.yyt 5iet�.?';rat r . � ,! / y •r 7 4,t.�F, °v$F'*':.7:ir 't e � �a ;:^-�•,t YXy,'t'{i , ,4F'{&� ti � T '�.�,/ '\ y .• 7tin ? t'�- �ia f }• k,^ tr ` .,R)kjltti +i F� t/' t.; ,t . 1•: ;.y 'ir rs� `+f, �i �t trtr'4"*r�rr'r'' +' �'.' 't` .. t 'e, :•1`i.ul'> ; +�,p �`Y�. �', :C , N•n 4 • �rtLT•'` t(I y� a..ru..i.;ay.„.a...: •a«+ct•XSH.t*ti y r 5 Ciw..h provided, that if at the time any such amendment is made any of - �F,• the Bonds are outstanding and unpaid there shall be deposited ;.y -: •y,y: with the Trustee the following utr { 'Zo-m-oi t (a) A ropy of said amendment as execrated; 1� ;N. (b) A resolution of the Board of Directors of the Company M stating that the Company is not in default under an of the y provisions of this Lease, (ii} giving an adequate legal description of that portion (together with ► e':"1, the interest in such portion) of the Project Site to be released, (iii) stating the purpose for Which the parties hereto desire the release, and (iv) requesting such release; "k3i i (c) A resolution of the governing body of the Issuer . r approving said amendment to this Lease and stating that the >. .: Issuer is not in default under any of the provisions of ' this Lease or the Indenture; i:Alr ' (d) A certificate of an Independent Engineer, dated ' not more than 60 days prior to the date of the release and stating that, in the opinion of the person signing such certificate, (i) the portion of the Project Site so <:,•§f,F"' , proposed to be released is not needed for the operation of u: the Project for its intended purposes, and ( ii) the release aki,,tx:^ls`r so proposed to be made will not impair the usefulness of the Project for its intended purposes and will not destroy the means of ingress thereto and egress therefrom; and (e) A sum equal to the appraised value of said land as determined by an appraisal made by an appraiser who is a member of The American Institute of Real Estate Appraisers, which amount shall be deposited by the Trustee in the Bond � 4+• Fund and shall be used for the redemption of Bonds on the , L earliest possible redemption date or to pay principal of any Bonds as the same becomes due and payable. If all of the conditions of this Section are met , the 1. Trustee shall be authorized to release any such property from ' . y_ the Indenture. No release effected under the provision of this {A; Section shall, except to the extent provided in subsection (e) r Y. As ,} hereof, entitle the Company to any abatement or dimunution of 4' the Rental Payments payable under Section 5. 1 hereof, nor shall ' a 'r, any such release in any other way whatsoever affect this Lease M r or the Indenture with respect to the remaining parts of thex . Project, and all the terms and provisions of this Lease and the ` `t Indenture shall remain in full force and effect with respect to the remaining part of the Project as though no such release had been effected. Section 7.2 . Removal of Project Equipment . The Company shall have the right, provided the Company is not in default in "3 F, the payment of Rental Payments or Additional Payments hereunder, to remove from the Project and (on behalf of the z -1$- tA r �.,-�.. -,- -.�. .•_.....,...,.�, v „sit+A�;:�&�ta"#�i;,�'�:r�--^;:. .._ ..- •,--•.,.,..� r>.5 t;,-4•�a 1 q{�+1 r ..�a p.:� n y t :,tt:.r1r v 1j{t�'+" . 'i' .1.�. � ,s., . E, ^i yrA bi��t'4.��.�'�of�.��ai 7 �. s ;.r J�; r 1 = t c $, �1e{;,r.t, >t,`• �.7� N�, ,e xn �Zr',+�,,'Yyn, i";-x �! t rl 6 '�'i'r s t r 'f d ?1^v+•}—r'P j� �� +7 p ,SlyJ.•.F"�f{e,h5r�t�>';f 1's(.tt•t"k_}{ .r t. ry. .. �' ' te4.{1 @T .i<i"„°X`t' Y<r'"':. F K41}•;tY {y,'�i�: i rt.lrti`t � �r �i 't �t� � .]' i}. -s� ,i t..}y;•�1h��P� ,. �11s ! y�3 x �, r.'•L�AA(�i<ff.: ',:r.i{rIM g✓' x. f^t r `.�p•A S 'rJ .ry ...Y Fn1 f-i t, r r. ;1 e jl.J t :% r i•: �� {;tryf'"''�i t4• �'r`1t:bt•.�k .;:s • � ;#.r a s ;sXf T j+ rr � .. ,: t- 1•- �' - , t t 7 Issuer) sell, exchange or otherwise dispose of, without responsibility or accountability to the Issuer or the TrusteeF with respect thereto, any items of machinery and equipmentFt ,J . . which constitute a part of the Project Equipment and which have b•'i� .ib l `� tr� become inadequate, obsolete, worn out, unsuitable, undesirable or unnecessary or which, in the sound discretion of then' Company, are otherwise no longer useful to the Company in its Y s 9 p' Y operations conducted on or in the Project; provided that, with respect to such items of Project Equipment that originally cost ,•;.rx• .: . $50,000 or more, the Company shall either . ) Prior to any such removal deliver to the Trustee ?? Y � 1°NS.Stixdl•yY�_.. r a certificate signed by the Authorized Company Representative (i) containing a complete description, r 't : including the make, model and serial numbers, if any, of 3`•. any machinery or equipment constituting a part of the Project Equipment which it proposes to remove from the Project, (ii) stating the reason for such removal , (iii) stating what disposition of the machinery or equipment is 4 � to be made by the Company after such removal and the names Vin` of the party or parties to whom such disposition is to be made and the consideration to be received by the Company therefor, if any, and (iv) setting forth the stated value (original cost of such machinery or equipment less depreciation at rates calculated in accordance with {' •,;°.. generally accepted accounting principles) of such machinery or equipment; and pay the stated value of such machinery or � •-:�:.�.. ...: s equipment as set forth in said certificate to the Trustee ,plc;* ti for deposit in the Bond Fund; or (b) Promptly replace any such Project Equipment so :;•�, �„��.�. ;�f:; removed with machinery and equipment of the same or ati; different kind but with a value equal to or greater than the stated value of the Project Equipment so removed, and such machinery and equipment shall be deemed a part of the Project Equipment; within 30 days after any such replacement, deliver to the Trustee a certificate signed by the Authorized Company Representative (i) setting forth a � Y complete description, including make, model and serial • ' numbers, if any, of the machinery and equipment which the ' ? Company has acquired to replace the Project Equipment so 4 . removed by the Company, (ii) stating the cost thereof, and p= (iii) stating that the machinery and equipment described in said certificate are fully paid for and have been installed on the Project . ' The Trustee shall amend the list of Project Equipment maintained by it pursuant to Section 9.9 hereof upon receipt of such certificate. All machinery and equipment which shall replace Project Equipment removed from the Project by the Company pursuant to paragraph (b) of this Section shall become a and be deemed a part of the Project. Aft Y -19- ! �A �� hf uiPS€ �j {f `t Y _ .r».,• t,xt ty }+ 4 ?}t .. r !? t �'a; r ��. i,� o� t t r 7 brr...�yi t• 4 'y. '� ' '`xatri�: a�k'St�fi% t .c <a4y.c i r,,a .:i� r t t .+. ' .' .t,• !1 .lza3'k�i�F�',,s9SYrl ,.,�, ; 43't�..LOS {�.�.! � � rt.13 � x t.c 't��..+ ,� .xya tr 'F i.,`J{�`..NS57.• Fi� '�4 )} �F 4 5 1 3 r' k 4 1'J�.'SW.{�J• i s ! sj'`?a%�''r�ti� rn.s" ,,i�;t',t'i'� ///r'':..� r F `• 1. 4 f , F.3 t, �f�r i 4� "`�''3'�Ft�y.9'"tir'+''F;� ! ' y..i t..,t ��,, f: ;+ 1 i s'. F . � 7� 1 t:e1 r ��Y��MV.tf•.t�t�3 � y t �'>. I ,z .t.�,r,�, '.,yt�( 3tYfr 5 �jttt+-W, !.� , • `� a� zt VaYr�tiri (. 1.a... y '�:e E b`'Y�x ` '+ 't .AF .. t. ,,•1 •: t' "..' t'. �i•�F ��:."j.flSCLf .>.,n..`, ,..eastx.Ai,:1 v.Utj� _t sy+'� .. �.. :.•, ... .. y '� t ;! r4 In all cases, the Company shall pay all the costs and expenses of any such removal and shall immediately repair at ``' r its expense all damage to the Project caused thereby. The Company' s rights under this Section to remove from the Project tk , machinery and equipment constituting a Project ' ~ " h 9 part of the s Equipment is intended only to permit the Company to maintain an 'r 4� t efficient operation by the removal of machinery and equipment '-' which is no longer suitable to the Company' s use of the Project for any of the reasons set forth in this Section, and such right is not to be construed to permit a removal under any other circumstances and specifically is not to be construed to permit the Company to make a wholesale removal of the Project Equipment . Section 7.3 . Y Additions, Modifications and Improvements of the Project . The Company shall have and is hereby y given the right, at its sole cost and expense, to make such additions, modifications and improvements and to an f ` Y Part of the Project as the Company from time to time may deem necessary or desirable for its business purposes; provided, however, the Company shall not make any additions, modifications or improvements which will adversely affect the operation of the Project or substantially reduce its value. All additions, modifications and improvements made by the Company pursuant to the authority of this Section shall (a) be made in workmanlike `-'„w`y+ .;, manner and in strict compliance with all laws and ordinances applicable thereto, (b) when commenced, be prosecuted to completion with due diligence, and (c) when completed, deemed a p P be art of the Project; provided, however, that additions of machinery and equipment installed in the Project by the Company n not P Y purchased or acquired from funds deposited with the "w Trustee hereunder and not constituting repairs, renewals or replacements of Project Equipment shall remain the property ofF ! ;, the Company and may be removed by the Company at any time. 4�3s _ Section 7. 4 . Additional Improvements on the Project Site. � > The Company shall have and is hereby given the right, at its sole cost and expense, to construct on portions of the Project Site not theretofore occupied by buildings or improvements such additional buildings and improvements as the Company from time �� to time may deem necessary or desirable for its business purposes . All additional buildings and improvements ;? constructed on the Project Site by the Company pursuant to the #° ,x authority of this Section shall, during the life of this Lease remain the property of the Company and may be added to, altered , or razed and removed by the Company at any time. The Company covenants and agrees (a) to make any repairs and restorations required to be made to the Project because of the construction of, addition to, alteration or removal of said additional buildings or improvements, improvements keep and maintain said additional buildings and im P good condition and ' repair, ordinary wear and tear excepted, and (c) to promptly and with due diligence either raze and remove from the Project -20- .yY ` �r t � M+�d' ! rt, "3d' f;�iN �r �:�,�tit'�dri#rr af�4$,�A:th't 3�y�•,.`f[++t t }tI' r F r r t .. (. j'• 7Z.4 pt #.t.'`>,:. k��{} .�{4` {a t"�{713 t..i s;1�' �+4,Y,Y,� +-t.. t • '-, ` !t ',`fit.+��'tt t''�'�.`tp' i��. y'�y(�� ++ 1��`a rr+;y�t/i '+ ft,t � �; i � •t t tip r r.tit�. �r�#1+d �'�`',t,` '!t'`'t'•yj �'01'-r��i Y�y.'�(�+r.,+ f ��,tr t # ✓ ., s.t;3 37+1 t rt,'�.'t,°`^'iY�4t."* j, :'�'t;f�•t,i'.p"v^tk�d'`t�'t t� 3/ :; tt `r '{ r ' � f 1 i i `N5�•,y+ti+��,534,yj:� r ilk`? s. '�Ift ` Rt , + �3 $} 1� t(q ..t k'. •!.1 r �1 :.� i Yi�tit'S r 5 .�+�r`f-� t a s t i + iV V_il �f r r,• t r 9 r Ft " +„n�,...a,.wrnvint>,1L�es'Fmsafi`"`�'�t'�t _a n, :4.cr Site in a good workmanlike manner, or repair, replace or y> - restore any of said additional buildings and improvements as ° may from time to time be damaged b fire or other casualty. � Y 9 Y f Section 7, 5 . Permits and Authorizations . The Company " shall not do or permit others under its control to do any work on the Project related to any repair, rebuilding, restoration, =,:,, ;,::. •, replacement, modification, improvement- or addition to the Project, or any part thereof , unless all requisite municipal and other governmental ''"` ` permits and authorizations shall have been first procured and paid for . All such work shall be done +�Y in a good and workmanlike manner and in compliance with all applicable building, zoning and other laws, ordinances, governmental regulations and requirements and in accordance + }; with the requirements, rules and regulations of all insurers i under the policies required to be carried under the provisions r ` *5 a of Article VI hereof . Section 7. 6 . Mechanics ' Liens . t (a) Neither the Issuer nor the Company shall do or suffer anything to be done whereby the Project, or any part thereof, f•', s:c:,t�;. : may be encumbered by any mechanics ' or other similar lien. ,. . Whenever and as often as any mechanic or other similar lien is filed against the Project, or any part thereof, purporting :t to be for or on account of any labor done or materials or ( nftt•,,�`(,.; services furnished in connection with any work in or about the Project, the Company shall discharge the same of record within 60 days after the date of filing . Notice is hereby given that ��n�',°r•�:; �' ' ' the Issuer shall not be liable for any labor or materials furnished the Company or anyone claiming by, through or unders 't*r'< the Company upon credit, and that no mechanics ' or other similar lien for any such labor, services or materials shall attach to or affect the reversionary or other estate of the :t • Issuer in and to the Project or any part thereof . (b) The Company, notwithstanding paragraph (a) above, shall have the right to contest any such mechanics ' or other similar lien if within said 60-day period stated above it notifies the Issuer and the Trustee in writing of its intention . .r so to do, and provided the Company diligently prosecutes such +t contest, at all times effectively stays or prevents any L official or judicial sale of the Project, or any part thereof or interest therein, under execution or otherwise, and pays or otherwise satisfies any final judgment adjudging or enforcing such contested lien claim and thereafter promptly procures t record release or satisfaction thereof . The Company shall hold }f, the Issuer whole and harmless from any loss, costs or expenses the Issuer may incur related to any such contest. The Issuer will cooperate fully with the Company in any such contest. _ '3+ -21- > 9� Ji C. 4, s rev'"'. Rs r r q r "fir' .�•' S{m+�' l,'ti}6�tk�kd 1 `?i� c�t(� �L ZyN'i�3t,��;,1 ljf}'�i4"y�' i f.. r R % S f tom. .• ''. J /S j i [r-7`T} ��5`t��iy L••f 1�i. , v�i� !J�k :i=��•r&4�*.�;1'^'tr5:p 4 Thyy � r� tY .£ 1r. �t� f ,. .t ,` t �g+ Itt Jai• y �� f�; `r N Z ba.. �r N l .t'L:? r x�y��U�`+• _ 5vrS.isr`�eW�'x= ( tA CAME ...r<,.......c.«„....>nv'cihtaCltr��+.","iry``` '�' :.t,,:�t.,_'�t".:,.•...Y'...... `.a.. .r.. . ..'{.. ' ' _`. .. ... ... ... . . ..:�;' ,k. :'t. x ��,�` t —':Y' � ARTICLE VIII R a f 4 DAMAGE, DESTRUCTION AND CONDEMNATION ;, rX ,g . C. -� T Section 8 . 1. Damage and Destruction. ' a .a (a) If during the Lease Term, the Project is damaged or x destroyed, in whole or in part, by fire or other casualty, to such extent that the claim for loss (including any deductible amount pertaining thereto resulting from such damage or ` P ) 9 9 destruction is greater than $50,000, the Company shall promptly notify the Issuer and the Trustee in writing as to the nature and extent of such damage or loss and whether it is practicable and desirable to rebuild, repair, restore or replace such damage or loss. (b) If the Company shall determine that such rebuilding, repairing, restoring or replacing is practicable and desirable, the Company shall proceed promptly with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacing of the property damaged or destroyed so as to place the Project in substantially the same condition as existed _' prior to the event causing such damage or destruction, with such changes , alterations and modifications (including the substitution and addition of other property) as may be desired by the Company and as will not impair operating unity or productive capacity of the Project or the character of the Project as a processing and distribution center . In such case, a1.,_,<;: fs : any Net Proceeds of casualty insurance required by Section 6 . 5 ,:;4ka;..:., hereof received with respect to any such damage or loss to the U+.:4•�., ,s;,r�,r;;,,, ., Project, if such Net Proceed exceed $50, 000, shall be paid to My� •y2$�r,,> the Trustee and shall be deposited into a separate account to be established in the Construction Fund and shall be used and applied in accordance with the disbursement requirements of ``n :;:' �,Sf'tk1. Yr Section hereof for the purpose of paying the cost of such L . _ rebuilding, repairing, restoring or replacing such damage ors4 ` ' ' 9, P 9. 9 P 9 9 loss as though such work constituted Project Costs. Any amount remaining in the Construction Fund after such rebuilding, repairing, restoring or replacing shall be deposited into then4 �� i.” Bond Fund. If said Net Proceeds are not sufficient to pay in full the costs of such replacement, repair, rebuilding ore restoration, the Company shall nonetheless complete the work thereof and shall pay that portion of the costs thereof in excess of the amount of said Net Proceeds . ylOt P> .. (c) If the Company shall determine that rebuilding, r,t repairing, restoring or replacing the Project are not practicable and desirable, any Net Proceeds of casualty insurance required by Section 6 .5 hereof received with respect .; to any such damage or loss to the Project shall be paid into the Bond Fund and shall be used to redeem Bonds on the earliest possible redemption date or to pay the principal of any Bonds 'fir as the same become due. The Company agrees to be reasonable in exercising its judgment pursuant to this subsection (c) . r. :x -22- , pry; ? "'i r.t I.p.y ay 7•i`�m a,,+ ` jt tu>��t trt sf, ,l t ^--..,„_, ,r � ., ,. ,' .�{,rty j ,�,�r �5 �' •.k nM,• k :j%' lii ' 'fig. /{{ z ,� ; r.�la•-� WV 1, ( } 3 a � wv j' S'p,p. v t 3a Ur '�ti 3•. 9 /1!.-r f t + '�':^ ! y r s Ss a r..i<;'x�r¢$Ai°' Sy k� i.rya1 t�7e. L' ' ' •{, ,'Pe �;l}S ta .7 r ' + 1 '' •'+7{,...t •aF 1}f�t}IC�'L ��{ oa3S�� ;yt��} ''�l• '�'ft.. 'i'''11 ��h '�las, n itt wF tf qY5} ' Fx �Jt s .'� CC c 1� .L' K 'a• r r.S+^-`"tt t c i 't !i � ,'t cY 7 r s y j tis s �nr- P�t;"a.(a. a . � 4q3 fi�?� < .F,w 1 t t:A}5 ',i i,y: ✓ $-•' { txk .td. � % a t$'�a,.�`i; 7"�yt a�. ..,+m....ar.».....w,.d.+ssatw;rr^S.`!"d?�,.�'��, .. ,:i .s.,,.t,t ,t.`: !:i .... ... ``-•.. .. ..` . . t. . . .s;:.'tt.t.v, y:vi7f4 ill' d �5' s (d) The Company shall not, by reason of its inability to `F} 'F use all or any part of the during Project t j g an y period in which auk the Project is damaged or destroyed, or is being repaired, 7 rebuilt, restored or replaced nor by reason of the payment of x�a the costs of such rebuilding, repairing, restoring or replacing, be entitled to any reimbursement from the Issuer, the Trustee or the Holders of the Bonds or any abatement or diminution of the rentals payable by the Company under this Lease nor of any ether obligations of the Company under this '° Lease except as expressly provided in this Section. Section 8 .2. Condemnation or Insured Deficiency of Title. 4 a If during the Lease Term i , ( ) g ( ) title to or the t / ' temporary use of, all or any part of the Project shall be Fi condemned by or sold under threat of condemnation to any ..- authority possessing the power of eminent domain, or (ii) title t to all or any part of the Project shall be found to be deficient or nonexistent, to such extent that the claim or loss resulting from such condemnation or loss of title is greater than $50 ,000, the Company shall, within 90 days after the date of entry of a final order in any eminent domain proceedings granting condemnation, or the date of sale under threat of s` condemnation, or proceedings determining such loss of title notify the Issuer and the Trustee in writing as to the nature and extent of such condemnation or loss of title and whether it t is practicable and desirable to acquire or construct substitute improvements . 'ts e � a ` u (b) If the Company shall determine that such substitution rsY9`t ' t is practicable and desirable, the Company shall proceed promptly with and complete with reasonable dispatch the acquisition or construction of such substitute improvements , sot }i ;y: as to place the Project in substantially the same condition as existed prior to the exercise of the said P power of eminent �r domain or loss of title, including the acquisition or �_ � construction of other improvements suitable for the Company' s r5r; :, operations at the Project (which improvements will be deemed a .: .w,, , a ,,• part of the Project and available for use and occupancy b Y the Company without the P Y payment of any rent other than herein provided to the same extent as if such other improvements were ' specifically described herein and demised hereby) ;S Provided, that such improvements will be acquired by the Issuer subject ' ' to no liens, security interests or encumbrances prior to the lien and/or security interest afforded by the Indenture other >! " than Permitted Encumbrances or liens or encumbrances created in order to finance the cost of such substitution in excess of (i) any Net Proceeds received from any award or awards in respect of the Project or any part thereof made in such condemnation or eminent domain proceedings or (ii) any Net Proceeds of title insurance required by Section 6 .3 hereof received with respect to any such loss of title. Any such Net Proceeds, if such Net Proceeds exceed $50, 000, shall be paid to the Trustee and shall ;; be deposited into a separate account to be established in the -23- r- ,, f L st{'`it a+ t V 77 .r R4 �' lxCtr ' 'ai�' ` �d .��ti '7y, 7 r,+. .i^, t.t• a. •a �'t;.0:`4�'�a } } F aS�! 'L,t,t -f �� .r ,jt Y �y'`�F�.t sYt�j{ya,�'�'i`fi.t,'�'^ •ti�s�r'«L{ � y� }a,,�t??�#T(.[ +ls�rih�'r dt r t..tFp :F,.; /:i ;t; .. .r: i• 4 t: _ ;` r7 t�j�t,+4�y, tas r'�,1,�y�ai}i��`':q' . ? •t ..�� ` r ( �� i t• M':� t w� hrt k t,�� w�}a{!,t a tN,^SY" ray. 3�� a '. '• ` V'. ,t a r k ... ,_ ra ,,,r .�ftt ?S tai�5' �,�i{C,a't��'t .{,!t ��h�i �.� `y ,a r..a.+n�«r.ew.rs*x•3+7Ya S.tNt�t'.:.1�+x',n�;£ik" �/.s.,,$r':.. J ., .. ... ?�', ,., .. . . ... <:7...S,t.i 1''•"txA 99E99E4. �'. .' ' jtY t .LL Construction Fund and shall be used and applied in accordance ,5 s } r with the disbursement requirements of Section 4 .3 hereof for g the purpose of paying the cost of such substitution. I t 4 p�gYS .-' (c) If the Company shall determine that it is not rz practicable and desirable to acquire or construct substitute idyl . �� improvements, any Net Proceeds of condemnation awards or title insurance received by the Company shall be paid into the Bond {; K Fund and shall be used to redeem Bonds on the earliest possiblei .r, t an redemption date or to pay the principal al of Bonds as the ° 'Yrr ; . same becomes due and payable. (d) The Company shall not, by reason of its inability to use all or any part of the Project during any such period of 5 restoration or acquisition nor by reason of the payment of the ' h: costs of such restoration or acquisition, be entitled to any reimbursement from the Issuer, the Trustee or the Holders of the Bonds or any abatement or diminution of the rentals payable rx � by the Company under this Lease nor of any other obligationst ' hereunder except as expressly provided in this Section. (e) The Issuer shall cooperate fully with the Company in the handling and conduct of any prospective or pending } f condemnation proceedings with respect to the Project or any part thereof, and shall, to the extent it may lawfully do so, permit the Company to litigate in any such proceeding in the name and on behalf of the Issuer . In no event will the Issuer voluntarily settle or consent to the settlement of any E;'Af prospective or pending condemnation proceedings with respect to the Project or any part thereof without the written consent of the Company, nor shall the Issuer itself, by condemnation L1, r�kt 'kt proceedings or otherwise, take any action to defeat or impair .�F,<t,'jr`_: the right or obligation of the Company to occupy, use or *kin ase the Project pursuant to this Lease. ' repurch ;{tasA, ARTICLE IX SPECIAL COVENANTSn >f Section 9 . 1. No Warranty of Condition or Suitability by the Issuer; Exculpation and Indemnification. The Issuer makes ; . no warranty, either express or implied, as to the condition of ' .,;'.i` the Project or that it will be suitable for the Company' s k a purposes or needs . The Company releases the Issuer and the Trustee from, agrees that the Issuer and the Trustee shall not be liable for and agrees to hold the Issuer and the Trustee kr ' harmless against, any loss or damage to property or any injury to or death of any person that may be occasioned by any cause A� whatsoever pertaining to the Project or the use thereof . **' Section 9 .2 . Surrender of Possession. Upon accrual of the Issuer ' s right of re-entry because of the Company's default hereunder or upon the cancellation or termination of this Lease a, -24- . ef. 1 't bi ksa; r .�r� Ji�.3i,'S'k"��'£.+'. .,r�{,, 4.Fal " Ct ? '}i•. iq ?ew.v>•>:h,«.»••..,.,.+,a.,",wa4V "+t.€3,�4�,"A3e°,.� `:i .'Fc �,,..C,,'L.ff{F . .t, ,_ Div ti fir d. �,... t , '±t.... , ..t �`„1 1 .. )', .ts t�rti ��4�� f �r r�. for any reason other than the Company's purchase of the Project pursuant to Article XI hereof, the Company shall peacefullyx surrender possession of the Project to the Issuer in good S. condition and repair, ordinary wear and tear excepted; provided, however, the Company shall have the right within 120 days after the termination of this Lease to remove from the ' Project Site any buildings, improvements, furniture, trade , fixtures, machinery and equipment owned by the Company and not 4,tgttY' constituting part of the Project. All repairs to and q, ` restorations of the Project required to be made because of such { t5 removal shall be made by and at the sole cost and expense of ) '-' r,::; ..P.`.' the Company, and during said 120-da y period the Company shall bear the sole responsibility for and bear the sole risk of loss �.• yz.,+�1`,<;,iJ'.:==` • for said buildings, improvements, furniture, trade fixtures, machinery and equipment . All buildings, improvements , furniture, trade fixtures, machinery and equipment owned by the Company and which are not so removed from the Project prior to t, the expiration of said period shall be the separate and absolute property of the Issuer . ?;tt Section 9 . 3 . Issuer ' s Right of Access to the Project . The Company agrees that the Issuer and the Trustee and their duly authorized agents shall have the right at reasonable times during business hours, subject to the Company's usual safety and security requirements, to enter upon the Project Site `" '''` ""'VP to examine and inspect the Project without interference or prejudice to the Company' s operations, (ii) as may be ,i� r'r'yz' >' reasonably necessary to cause to be completed the acquisition, A construction and installation provided for in Section 4 . 2 hereof, g ( iii) performing such work in and about the Project made necessary by reason of the Company' s default under any of �,� ••$;�,�� P (iv) exhibiting the Project the provisions of this Lease, and to prospective purchasers, Lessees or trustees . ` . Section 9. 4 . Company to Maintain its Corporate Existence. The Company agrees that until the Bonds are paid or payment is ;m ° provided for in accordance with the terms of the Indenture, it will maintain its corporate existence, and will not dissolve or otherwise dispose of all or substantially all of its assets; Provided, however, that the Company may, without violating the agreement contained in this Section, consolidate with or merge '' into another domestic corporation or . . t' P permit one or more other domestic corporations to consolidate with or merge into it, or may transfer to another domestic corporation all or A substantially all of its assets as an entirety and thereafter dissolve if the corporation to which such transfer shall be made expressly assumes in writing all the obligations of the Company contained in this Lease. In any such consolidation, merger or transfer the Company shall comply with the provisions of Section 10. 1(c) hereof . ,hf Section 9 .5. Granting of Easements . If no event of default under this Lease shall have happened and be continuing, the Company may at any time or times (a) grant easements, -25- {r>{ g`G�,Y��g�r4;" y' "+{ si''� ! 4'a t s t r� + i 1 i'2}, -+` 11 �''-r"�"?•v � . �"� Crr't �r �Ax+ in�s��•�{ � '�`" , , }'., F +" i� �;, ::�5 a�M �}�trWXs��t '!? F S. ) :C,l'' "t 4 S'} 61 t,✓ytb�� ,{.,, y f f '...V r si .> t •t.h t �,i'. .�� t ss `[ '71:1 •1 t {< e+�„',r.�3 . ( t :,47, e(H. + YY + h MR uwW a. i' 1Pti u1r Q4.t. � ' }.rt j .'} .: '< r i{, .'., i,: '! '. "� l��b'ru r � '�t}q$ �• r.. licenses, rights-of-way (including the dedication of public highways) and other rights or privileges in the nature of easements with respect to any property included in the P fi ro�ect, or (b) release existing easements , licenses , rights-of-way and other rights or privileges, all with or without consideration and upon such terms and conditions as the Company shall i determine. The Issuer agrees that it will execute and deliver and will cause and direct the Trustee to execute and deliver any instrument necessary or appropriate to confirm and grant or release any such easement, license, right-of-way or other right or privilege or any such agreement or other arrangement, upon receipt by the Issuer and the Trustee of : (i) a copy of the ,, • ,,. instrument of grant or release or of the agreement or other arrangement, (ii) a written application signed by an Authorized Company Representative requesting such instrument; and ' certificate executed by an Authorized Company Representative stating that such grant or release is not detrimental to the proper conduct of the business of Company, will not impair the effective use or interfere with the efficient and economical operation of the Project, and will not materially adversely affect the security intended to be given by or under the Indenture. If the instrument of grant shall so } provide, any such easement or right and the rights of such other parties thereunder shall be superior to the rights of Issuer and the :^,4y , Trustee under this Lease and the Indenture and shall not be affected by any termination of this Lease or default on the part of the Company hereunder. If no event of default shall have happened and be continuing, � g, any payments or other consideration received by the Company for any such grant or with respect to or under any such agreement or other arrangement shall be and remain the property of the Company, but, in the event of the termination of this Lease on defaultIFya'; oti the Company, all rights then existing of the Company with respect to or under such grant shall inure to the benefit of and be exercisable by the Issuer and the Trustee. ss ': Section 9 . 6 . Indemnification of Issuer and Trustee. Theri. Company shall indemnify and save the Issuer and the Trustee d JY harmless against any loss, liability or expense, including ., ,` t reasonable attorney' s fees, resulting from all claims b or on behalf of an Yi ,., y person, firm or corporation arising from the conduct or management of, or from any work or thing done on, the Project during the Lease Term, and against and from all claims arising during the Lease Term from (a) an y condition of }"q' • the Project caused by the Company, (b) any breach or default on , the part of the Company in the performance of any of its w obligations under this Lease, �;. connection with the acquisitions) construction tand tinsdtallation } r. of the Project Additions or any reconstruction of the Project, a#,t (d) any act of negligence of the Company or of any of its agents, contractors, servants, employees or licensees, and ` any act of negligence - of any assignee or sublessee of the Company, or of any agents, contractors, servants, employees or licensees of any assignee or sublessee of the Company. The -26- r ='. ,�' y q`„ .i t ., r �-, :: ,:. . .:. ��fi" F�,`w,7f•4°.`�{�±�FSSP:,PY%o71YF9�s!'"w,.',"........ .. ... —......r..w�, 6rr f :s�` ' rt. r .• t �r .. t. a z..v' "S`- +.�` j`u Sk ,�. p'n.i�''N;�7h �{, "�r `t`=t� r :t{1 ,' �.%^ t .. .. �� .�yU4,r�}'•,` 'y�q''Ff�ti_{r`d ` r. rte �,r"x ekJr7 {s k g. i? f t ' r,'. {�4 1J r ,•sif t�d�;�.� a a `—A r .:i,'. •'> .. ,., it..' 1 ,at Ct• } .li YF' c,n+ja4gr�h' i*•r(i:: :' ' 1' i` 7t f I'r• ��'r�{��;f5{s. vs. !- 0;;r•> ffs. .:!„r r( 'F t.A,c q. y 7t.,. '.f!S it.^'}” .;#.s,tt' (fSS31 SF Sst '+v!psr✓ rrcc XY '{t]7 Y Y•`, . > .}< ..r• z+a 7 Jtg2 .'1" r�At's l;}} Sn}..t a a.'?l pt=. :it ,m '.S!' ui�• S .t St. tj.,lt iq n7,yti!7t t k w......,.>i..,..',.,,+.ta..nt,'nzCA,. 7t1?.'•F'>JIti,'S�.'?u7't€,k`.1'i,.,a...s: it r. , ._ ..,.... 7.. •qt .,. ,.. .^'.?*,+:.<.':.a. . ..+ f ...`,; . ... . .. f#.{"1t.f•,k`is' `S:• t F+q Company shall indemnify and save the Issuer and the Trustee ^F q' �•�.� harmless from and against all costs and expenses (except those which have arisen from the willful misconduct or gross negligence of the Issuer or the Trustee or the violation by the Trustee of the applicable legal standard of conduct) incurred r&r in or in connection with any action or proceeding brought thereon, and upon notice from the Issuer or the Trustee, the af3s"% ,t . Company shall defend them or either of them in any such action ;a . or proceeding . Section 9 . 7 . Depreciation and Investment Tax Credit . The s , .•.. Issuer agrees that any depreciation or investment tax credit with respect to the Project or any part thereof shall be made 414 } available to the Company, and the Issuer will fully cooperate ;r with the Company in any effort by the Company to avail itself d lit i of any such depreciation or investment tax credit . ki 1u Section 9 . 8 . Company' s Financial Statements . So long as any of the Bonds are Outstanding, the Company shall deliver to the Trustee, as soon as available but in no event more than 150 rr ' days following the end of the Company' s fiscal year, a copy of the Company' s annual audited statement of income and expense and the Company' s annual audited balance sheet, prepared in accordance with generally accepted accounting principles ?,t { applied on a consistent basis . . �t. 40.'r9s�•Y`;. ` Section 9 . 9 . Security Interests . The Issuer and the Company agree to enter into all instruments (including } 'u ? P financing statements and statements of continuation) necessary Ma for perfection of and continuance of the perfection of the ,?�:�.- security interests of the Issuer and the Trustee in the Project . The Company shall file or cause to be filed all such 7 P X instruments required to be so filed and shall continue or cause t to be continued the liens of such instruments for so long as N the Bonds shall be Outstanding . Additionally, the Trustee shall maintain a file showing the description of all Project : : Equipment, said file to be compiled from the certificates furnished the Trustee pursuant to Section 4 . 3(a) and Section ^ ' 7. 2 hereof and certificates furnished to the trustee for the r; Series 1983 Bonds under Section 4 .3(a) and Section 7. 2 of the Sei'ies 1983 Lease. r;. Section 9 . 10 . Tax Covenants . ;wUr (a) The Company covenants and agrees that it will not take tt' t any action that would adversely affect the exclusion from gross income of the interest on the Bonds and will take whatever r, action is necessary to comply with the requirements of the Code to maintain the exclusion from gross income of the interest on the Bonds . The Company hereby covenants and agrees that it x will not use the Project or suffer or permit the Project to be 3 ,'.. used in any manner or to any extent, and will take no action or refrain from taking any action, nor, to the extent within its control, suffer or permit any action to be taken or condition 0. -27- Gn :. �r 7 0 •`a •s4a"i'aG�ry �'�+�iji,51�S}»VS`C;di ry�S(� 7 2r t •i{i 4 x. Syr .� ( r s .}. t :�7 ..N!e tti)r T�1" tv q y i .��9 +•i'f!^ '`# F .,^fr M' •. °.+ .tr' i ,r ; };. +.., tc !.n w, `�41 fktiw`_ P' � ,r7 r.�• .f L ,�,'•p „h'�?; rM p .r t.a t(•t'4�•*" c ( r t .G t .4 ti zW Y t V'v'i ut'•55 ^;i > s 1~t4f: L#4 CS r tL +t S t, ✓ r }. t t, r.f .A 'a r i5ts.Y �i '' bt}oy,� f bk ' .t, It '`S 5�h1Si r' } l •a<' a i + rat i o t�£4 s $ t . ffis }tt ..T'vFj'� .:tl} F ;rP Yt }i it i t t.:!r(t � '.}.. �, $., �'3 Fa`F+•t?3 rsK � {.i ! c., sf , ,•. ''. ... . t ,, .:t!. ..y � fi �7�'�r {!•Mat�,x �i��t ,.!pl <' . ` •tf `^ } t + 1�":Tv �vf4 -4 � �k{ Y' t�p Srt ` . ,. ❑ �,pi :�'('�'��a�t. iii 34147' fi y '(y,. Mt.4�,�'+i'a S,'l�i.�}``�1�k"� ,{ ,sk'�y... r � � •, �y. �,tw�l ' ,. �'3'St"' �i�s,.�i, L`t�� 'r �j ,� ,� ��,�F1s ��7.Ftw��d��E'kn�w a •� ��9t{��.s��'{�•ry�e��t"'st�.�� ,r, to exist which causes or may cause the interest on the Bonds to be includible in federal gross income. vn ,' 4 (b) The Company covenants and agrees that it (1) used 90 or more of the yam y proceeds of the Series 1983 Bonds (after adding .� > any earnings on investments of Series 1983 Bond proceeds) to . wy . y• pay those items of the project costs, or portions thereof, which constitute costs of construction, purchase and installation of land or of property of a character subject to the allowance for depreciation within the meaning of Section ` 103 (b) (6) (D) of the 1954 Code; (2) will use all of the proceeds of the Series 1992 Bonds to pay the principal portion of the [` ''ry`„` redemption price of the Series 1983 Bonds on April 1, 1992 ; andx '' (3) will fulfill and will cause conditions specified in Section f 144 (a) of the Code and applicable regulations ( including ? . y proposed and temporary regulations) , to qualify the Bonds as "qualified small issue Bonds” thereunder. 's s`r 4 (c) The Company covenants and agrees that it will not take or permit to be taken any action which would cause the Bonds to n � become "arbitrage bonds" within the meaning of Section 103(b) (2) Section 148 of the Cod ( and a and the regulations g �4r� at„ g proposed and temporary regulations) issued ,VIM- (includin ' thereunder. The Company will comply with the Letter of a2t�t , Instructions ) n fi (as defined in the Indenture to insure that all required arbitrage rebate ` YOt g payments are paid to the United ;�� States. (d) No portion of the Project consists of ` t.. (i) any private or commercial golf course, country club, massage parlor, tennis club, skating `` facility (including roller skating, skateboard and ice skating) , racquet sports facility ' (including any handball or racquetball court) , ( ' hot tub facility, suntan facility or racetrack, as such terms are used in Section 103 (b) (6) (0) of the 1954 Code; residential real property for family units, as such terms are used in Section 103(b) (6) (J) of b the 1954 Code; or _w any airplane, skybox, or other private luxury box, any health club facility, any facility primarily used for gambling, or any store the principal business of which is the sale of alcoholic beverages for consumption off premises, as such terms are used in Section 1O3(b) (18) of <, the 1954 Code, 4y tiL. M. ti. _28_ �t� r q { cg�r k'r�1Y' "4 'J•5{ f .(,ij,. a tjs} -tJ r`i> 'S?f ! Cty a+t r.' .:r.•f, I 1.< t ; } '(' s*F as 'd f ~�e t'F f�ui + :,�r �s � kn t ;c . "±'•.•+ +r ! 'Y Ee y!! ci{(°�"J� Icd';.:lrlylt..� ; .tY stsfi + Z•�0a 1`t :at; . R;`I vM3,a �t .4, ! ..d/'S}j 7r + �. t I .c t t _ S Y ,�.,,,s. 1 i�k^i ++.+ n:7r3 �ie" i� $c; f:e b. rs�Ja ar e s r{ �. r E1 : ' Ldp '}$^ ;3 .k,}it, ➢t":%`.'u 4 4n.t$aim ;'11 '. `, :;?,•t ;°. { 4 t(a>t+S .j.). .3 � n t�,{ r t J i { rf + y t ! : t : +, 'r�k•.:t'r:,a( t �� (�};!t s�y�'4'�n..�l 4:>.. �y. V 'S ils ! '; :,, f , `. J ' ;f: { at. ' erg >d�+; fig. ?fy}i7��'4��N� `��, �i 1 P�St i,,t r.. r{ 7 v s f.. r + t . i t f e.1, t; ^r �r^'1•;,^Ir.31/•,,S)p r Y 5I { r~I'.t�n#ij,`'1 Pjr.fi}b..: s.�}t +`. t Si f r V ' ',` io t it. i! �!`it'('4tfix+ j,r��,t)r^ •3� e 'k 4, .r ty {t "t, t'i• ' ..:,"�. ; . I p i y t .. � •its��•1.51°.1P °�.zp ' F x t};}vita: sqr° 1 A,; 4s x fa�� >a.h ..f. , . _ i.strr+�.afo-sspta�itt4t7titi•5Xi{ (e) The Company will assist the Issuer in filing all appropriate returns , reports and attachments to income tax xtyr"F� t returns as of now or hereafter required by the provisions of the Code, including without limitation the Information Return for Private Activity Bond Issues (Form 8038) required under. the Code. vk L:n (f) The remaining weighted average maturity of the Series 1983 Bonds is not legs than 8 . 653866 years. The weighted WO , f,. average maturity of the Bonds calculated in accordance with ;' . the requirements of Section 147(b) of the Code is 8 . 63519 ' "'"N ``"' years which is less than the remaining weighted avers a g maturity of the Series 1983 Bonds . }t : s . : �3 sc) �`'• st �. s (g) The costs of construction, improving, and equipping ofl,,l ' the Project were incurred subsequent to April 19 , 1983, the date upon which the Issuer adopted a resolution taking . official action" within the meaning of the 1954 Code for the purpose of financing the Project . Prior to April 19 , 1983 , neither the Company nor any Related Person had entered into any binding agreement in connection with the construction improving, or equipping of the Project, or the design, engineering, or architectural development of the Project and no i on site work had commenced in connection with the Project and no off site fabrication of any portion of the Project had been commenced the cost of which were to be financed by the proceeds j` Skta` of such Series 1983 Bonds . , M To the best of the Company' s knowledge, the Company . , ' • has not made any capital ca expenditures which would have caused P P the interest on the Series 1983 Bonds to become includable in gross income for federal income tax purposes pursuant to the provisions of Section 103(b) (6) of the 1954 Code. The Company further covenants that it will not take or omit to take anyH ,r action or permit any action to be taken or omitted which would ?_ cause the interest on the Bonds to become includable in gross [ income for federal income tax purposes, provided, that the Company shall not have violated this covenant if the interest ' on any of the Bonds becomes taxable to a person who is a x . "substantial user" of the Project or a Related Person to such ` substantial user. The Company understands that the term "capital expenditures" , as used herein, as of the date of execution hereof, means any expenditures made by any person which, under any rule or election under the Code or the 1954 Code, may be treated as a capital expenditure (whether or not such expenditure is so treated) and determined without regard. to any rule of the Code which permits expenditures properly chargeable to a capital account to be treated as current ' expenses, unless such expenditure is an "excluded expenditure" ` under Treas . Reg. § 1. 103-10 . (i) The Company covenants that, except as set forth , in the Company' s Certificate delivered on the date of issuance of the Bonds, (i) the Company is the sole principal user of the ' -29- f: S'.Y V F 4s. " is f r a r x Si i.�y•>r . i ��:.-..,,,.,,. �. t 1 S. 1��{ t �. t. f' 7�. .'`!'Pg�'}�}ltyo� 8., z.. t ��"� �{� 4`L�,.`�,,},•a, i .jt { '` ;(�, '•'�� of t�x'''`..; '�1 f;a r { a�lts aSxt!,�e•1Y."`",..1 A Y j15rf)�v'v`t.r t�T{!'"�.'`.�.r+Ji F:l;r'A ti'+�.,+.5: r A t!f a.S y.� {+rytt:. .h,+ .w. t`<j.f < s { 5 :.,'` ' t,f l�s•`t,f , 7 rg i {*x r r J A. e• YSh g'_ i�x`��; ,�Bri,FtnA�z tvj "$ s�` x 7 ..• r r: .{�'ii,.••+��r��!-;IY,.ta'+r?,rt.`i,r, l,s':1t. l '{ . ff .i 1,'r .5: �i.:t,.y S?j'F'',�+'f�� 'Y3,`�' 4t{`''�.. ��j� A -Ofi, :x•�r,...,k:r,:,.{sty.( tt ry . T�,, t,..? ,. 4 �F , �.yirr i`.'`rr,TS •11 :.r <'• .. ' .4f.gtr+�a 4 r' IT A` 'R^`9 • AV"M", ata v t'f R{nsit�V;1" ; it< S Q''.. .:, j �*}.,;,¢. •ier?at e?; �#'kt3�' -Si' 'n.'c��i .t 'r` , . . facilities refinanced with the proceeds of the Bonds within the 1. 103-10(h) ; and (ii) there z '� :�" kr { meaning of Proposed Treas . Reg . § '; ` a are no outstanding obligations which are classified ast:}: 's,°=< ; G "qualified small issues under Section 144(a) of the Code or ¢< "industrial development bonds" under Section 103 (b) of the 1954 < Code and any Treasury regulations with respect to either Section 103(b) or Section 144(a) , issued subsequent to April 30, 1968, of any State, territory or possession of the United States, or any agency of the foregoing or of the District of u Columbia, the proceeds of which have been or are to be usedx, : ,' ' }ty a,'. s . primarily with respect to the facilities located in Butler County, Missouri , and which are to be used by the Company, _>M,P f including any Related Person to the Company. r . r{ ray. (j) There are no other "exempt small issues" or qualified small issue bonds which are -to be used with respect to a single building, an enclosed shopping mall or a strip of offices, facilities with stores, or warehouses using substantial common uch terms used in Section lU3(b) (6) (P) of the the Project (as s 1954 Code) . t: (k) Except as disclosed in the Company' s Closing Certificate, there are no issues outstanding of any issuer, the proceeds of which were used for facilities located anywhere, the princpal user of which is the Company or one or more related persons (as defined in Section 144(a) of the Code) ' .tN:. except the Bonds . i ARTICLE X ` ASSIGNMENT AND SUBLEASING . • Section 10 . 1. Assignment and Subleasing. The Company may r' assign this Lease in whole or in part, and may sublease the �- Project as a whole or in part , without the necessity Of obtaining the consent of either the Issuer or the Trustee, subject, however, to each of the following conditions : (a) No assignment (other than pursuant to Section 9 .4 hereof) or sublease shall relieve the Company from primary " liability for any of its obligations hereunder, and in the event of any such assignment or sublease the Company shall ' continue to remain primarily liable for payment of the Rental Payments and Additional Payments specified in Sections 5 . 1 and 5. 2 hereof and for performance and observance of the other covenants , warranties, representations and agreements on its part herein provided to be performed and observed by it to the same extent as though no assignment or sublease had been made; and •x� rF. -30- Cam MY • ,�;auv!at+ t'}` '. .. L't".'RLMttr. G .yT , lar 3� i .�. ,. �`.4t � i t P:> , r' � I )ir. }, t d.}}�lTx� rI'y •✓' •s �� `� r,• �.�n- :,ft.t i � t,;srr,k°.x<-f':i ,,i, i '!. ,E' x �s i t v E t 1`a�' S. §r` a��,`,,.',,•,�' 1 of art ��. �+�:., /r�, >,t n. .., ,} ; i :j� a Yfr r� t .3 � r, a"�'+a'`ir-".�� r t �r� s{,. 1�1'!, 4` } 'i"�§• r. ,} iii t"+`} �-'`1:Y S r'V .}?p {p. 4i.: j;.3 _*r t r .*.'t� t •�:. ':ifi }' ,�r 1}+tt. ,s, } �`�+}�.,fit�j';�fY�xf✓3i:?�9u hY,�i%;t:.ih+;3Jr�' +r'r.��; , ti::; ,l ',:: 1 s ;.i. + S ".fr t.y,:J. 1. Fitt r' �'?1}�1,�,.Eu i r+ r+ 5 it yy�"r;`s{Z} yyyy si 3 r. .5 lrt ` JI.' SaJ ' '• J �.+,•= i�i jifny y4t �n� ,;^,� {. i!+ t >) }/11 . � .li r .'.i,,�t�,it i`•f .. f ,"i. ,.*yz„ .i:., `•i p '�} t�x:t.�s {�' 'F{}'11 Jr',F�t��1�v:,:,:;'xtkj;:�, u,. �:`�"+,c'�, �• ' try �i ., .. .. r ri.s�. .. 3:i'7!.-S•�y�.21,j.r.#fib , �,�.n"" , } x. SJ!t y,. �h',U.{„ .F '� i F. t .4 A+n 'Pqt, '•'1;'�.-. �1. Sk, Yylt +''• •.3t9CdtxEitr+e,:�.:.x.rMSi`.:}i'rci,``cNi�fs�,G3$S�i,.a �r...�a','✓��'a�",',�"tiN,. •.,�;c,,. f ``r..0 r..,.. .l.,... .t... .. ,__. ,.�1.,.,.;.s:Y c L. ,S i (b) The assignee or sublessee shall assume the '' g "' '° obligations of the Company hereunder to the extent of the interest assigned or subleased, unless such assignee or ' sublessee is a wholly-owned subsidiary of the Company; and .k`Fia.trtr M i (c) The Company shall, within 60 days after the 3 ; delivery thereof, furnish or cause to be furnished to the F 4' Issuer and to the Trustee a true and complete copy of each such assignment, assumption of obligations and sublease, asA"':A the case may be, unless such assignment, assumption of obligations or sublease is assigned, conveyed or i transferred to a wholly-owned subsidiary of the Company. l• t";.mot' Section 10 . 2 . Assignment of Revenues by Issuer . The Issuer shall assign and pledge any rents, revenues and receipts receivable under this Lease, to the Trustee pursuant to ther,Yb, Indenture as security p t ., for payment of the principal of, interest and premium, if any, on the Bonds and the Company hereby t consents to such pledge and assignment rt�„a 5ir� i? Section 10 .3 . Restrictions on Sale or Mortgage of Project b Issuer. The Issuer agrees that, except as set forth in �� Section 10 .2 hereof or in other provisions of this Lease or the Indenture, it will not sell, convey, mortgage, encumber or ;E�' '''>: otherwise dispose of any part of the Project during the Lease `'? '°"```` it Term. ARTICLE XI ?R' ., OPTION AND OBLIGATION TO PURCHASE THE PROJECT Section 11 . 1. Option to Purchase the Project. The Company $' to purchase the shall have, and is hereby granted, the option ;.., Project at any time, prior to the expiration of the Lease Term upon payment in full of all Bonds then outstanding or provision for their payment having been made pursuant to Article XIII of w. }si the Indenture. To exercise such option the Company shall give 4: written notice to the Issuer and to the Trustee, if any of the k. Bonds shall then be unpaid or provision for their payment shall 0,. Y ; not have been made in accordance with the provisions of the Indenture, and shall specify therein the date of closing such purchase, which date shall be not less than 45 nor more than 90 days from the date such notice is mailed, and in case of a `. redemption of the Bonds in accordance with the provisions of the Indenture the Company shall make arrangements satisfactory to the Trustee for the giving of the required notice of redemption. The purchase price payable by the Company in the event of its exercise of the option granted in this Section J shall be the sum of the following: (a) an amount of money which, when added to the amount then on deposit in the Bond Fund, will be sufficient t to redeem all the then outstanding Bonds on the earliest Y, -31- �'t ka t i} }ri 4r wY r � �ie,t' �k � �� ,t{ ttt a�.. t r� s i a,, . v. ,a sa 1 lL i• S7? v� ; fit. Ck�'fry. � ( i,}d1 kx ail.y .� 1a .t, r{ .4}ad tlk �,wr.n aq av ti4y ,iG� .'d 1; .1�.�•� .Y j.c r�3 `��,}t� rft iri}�,r ��tr 4l'tr � "W,It�J qtr f P P t..,r t t fy� t. F}.,inA� viS 4.;�C:i till '�ri 4�"�+r�i.�''.,Y'�j�7t��. �~` x. ^M �:} �:K w�a�j 7�a < <:Ff':(:, .t Jf .I •J :i' 'v'. "',t T { �•-�t},�,_ :}'i}ri,�r'.w„n. ,F• ..4 Y � F >. .f 'x.!•r t�u�}ar �r2t�:Yw} 7� t _ ,�. • k �,.��. �:(yYC r }t �j�' rti+.+t ;1.?a .y t t at . ,... t i� 't. :iYp, l =.E .. R£'r�. 5�G1{1�,r :r '�- ef: .��..Y .r }��htr 7�t ,t� cad� at t a S (. G ..-� r :, x'S etl '' t r +x t•+ a� x 15'7�Y}i k'x,�}ul^ '�1. f r' .x� ft '1 } 'f(,! f ii. .. � f�V '•�i:. 't C` Y F41 ';�tt .,c if x!'rS"+ t r� � t ,r, t �i.�� ' ` >} � r�,t,f`. } .,s�gr •vt�>��}�}, y t.: ;i,�.. a:•+��s,k;,�tji�fL�,�} ('(t�{. j s5 •t;1: r .t :j � .+. .>..' 11 �.� .�Y .1 ., ',xS t, s�t,tj ,r.t}as.ii�1�':�l �.�. t:: 't.t�ezt�t�f {{Px 1 l.J y, ,(tY r y :�1 T� t '•Y,+ t C fF 1, c` r;,.7�fS'r:�}[,�?, ;� ��f ,fit t ..} tw,y~' ,s .. ...P' `•r G.t��. t t j}..:'} t ti"" i• � v" i.#,,`nra 01 ME 11 ;�.'- n t i .� =1k�! C'p•L`,lr,`�+i4!'rk1tL0;�t '� � . ' tint F `' lilr ..{ Y t .. ,',-'r. i.1f4 '! +4•i ``3 �..�i.. .z{, 1�'S:Jta I t fr :�t. 't •'-' ' $�a I'. �$�! ''`?#�v'ar#,:tf'�7;'�{' w''_:,i�J',�a.! r°r tit-i.'Ip`eK�`G4 S, s y' redemption date next succeeding the closing date, ,. including, without limitation, principal, premium, if any, '# `_, fY and interest to accrue to said redemption date and redemption expense; plus (b) an amount of money equal to the Trustee ' s and rjJ, 7 Paying Agents ' fees and expenses under the Indentureh:r accrued and to accrue until such redemption of the Bonds; j�s } r 4. ' plus (c) the sum of $100 . Section 11.2 . Conveyance of the Project . At the closing ;' of the purchase of the Project pursuant to this Article, the Issuer will upon receipt of the purchase price deliver to the Company the following : (a) If the Indenture shall not at the time have been �' Aw satisfied in full, a release from the Trustee of the :x Project . .xYtllS (b) Documents in form satisfactory to the Company `�� °''+ . . conveying to the Company legal title to the Project, as it then exists , subject to the following: (i) those liens and encumbrances, if any, to which title to the Project was subject when conveyed to the Issuer; (ii) those liens and x="` encumbrances created by the Company or to the creation or ` AS suffering of which the Company consented; (iii) those { liens and encumbrances resulting from the failure of the ' Company to perform or observe any of the agreements on its + part contained in this Lease; (iv) Permitted Encumbrances �'. other than this Lease; and (v) if the Project is being �..';y °¢,. • :; condemned, the rights and title of an condemning g Y xt. authority. , Section 11.3 . Relative Position of option and Indenture. r.,. The option granted to the Company in this Article shall be and remain prior and superior to the Indenture and may be exercised whether or not the Company is in default under this Lease, provided that such default will not result in nonfulfillment of any condition to the exercise of any such option and further provide$ that all options herein granted shall terminate upon the termination of this Lease. Section 11.4 . obligation to Purchase the Project. The Company hereby agrees to purchase, and the Issuer hereby agrees to sell, the Project for the sum of $100 at the expiration of the Lease Term following full payment of the Bonds or provision for payment thereof having been made in accordance with the provisions of the Indenture. '�w A •i. -32- ,� �. .�t.l f�'Ta.' w:�r'�"�C's'ti}�'.%I �� ':I i tva�J :.�� J+ i nF.rz, • ,f .r, t �k Y47�{L ue� t}�'.j•L+sf�`�°rYl i.� ttii rra dT �t i 1�k � '•"'x i Y .ri t:�l. �i t .r <�3�' .i } v'Irk t r4,r�{¢e,��ti `""t •."' t: 3�� »j,`�.t•AY!.`.�i`<�5�y°:°�n'•`�mriti.i�{7'` ` s' ,tr.�a si . fir, r .I{, ; F f a ;�,,, a t t r� �;_4�,��;�ifit�i�� `` b` A'"c4 v'i�' 71��'ii kr'r4• 6 �. 1 ct •i i.' .( r✓,y tz rh s ^?�r k �,., i1 it y5`.•�.7.t g7 f�•{�;,•',F�$y3atXss.}kip.}f£: I:;:L•� r' W >' i C!{, Y :� �-C^''`7•.,..Y' `tk'`} ,tai,'+..x f',9kr..["s .'` .E .i I 3 .tt F 'i -v1 t a' t�J r'' ! !'4` i F3.ts5T,}fir} 'a:n .p ft J >:S s s 1� t#1 •, `' a r 6- p, Z s�la' `:'l'6�Y ,� I!` f tk fi"Yy:.•( Y ai ; t t. N(i , Y �t4.i 1ti, '++•�3�A .+. rq' } ,° i Y � }t Y t $ n ! f}'a 'r. +, �c D 4 t t. a t z t .3,: ¢ }•' r i t id a, : 54; �o}.'.. k'. � "i ��'��'t,'�� 1 �`.`+It�}r�I(�Sa t., t; p i:r •F I � - l.. 7.. : "G Z' .r""'},''� F ...:I.yt�i r� }Y• �'?Al�: J I !,�+C; e .i ,t•'�rt�.�}�r,*°"�s '%t:, s }ji z t t n t ,i' F" 1 i 's �„t a aa'7..1' �.✓4`,i1�2 x» :y: 1 - '^I Y 'r'> bra 4 .�i .{tyr�l...> �'.{ !1{' � .ir ..}•,r i s: + ' � :C\` •..,I t. : r1f• .Y7 `' a S �� .kt fi.+. t•..:•,:( j d > .'.'R'.�,t K rW 't i ; h M 4 �4, , } ,,l.v ( jixr( 2 ,,' { i'V �'N+e � In{a'��. �!,{ .?v�Y •f r .,, ,t .:.t !' "i I� ,+y7. i[tt tl F,' aCtf' ytt.11 � ;.srt� t .@l'l 7:Ll, 4 :,�y j `! , ;,il L Y}.t t k 't. !' r t�it.t rt 1. a � 5 •i 'yy . � fif''K. s r.tf:t t t't,, t. r :t,`.j4 ;i' .. .�14� t in �!s { f f,,',s r i},..ti,'.4 tt+.>"k,.:it!}F2t:( _ "x'•'t. , Fr .. _ , f i(- ,f>'A�' '`?!' � 4 � � �' '`�+ t+ ..a+M1� E t.�,N�'xlS•.•�b�e94}t ,+,f�''.�t,�',�i�"�y�tc/�y+.S t}r T.l�i� '` `�. �.: .I� s .'f ��t n9�}�•�`� ro� �` :,'�., #: %}�, s:.4�?4;c��??:§,'.m.:Sr�htti4in�'it'�t','i'.inr�Y;fii `:F1,�.".r�.�..3i'Y..��d" 1�`}��°�r+• Q�j �' 5`' `3' +,j '��'�''�'d4 y ARTICLE XI I DEFAULT AND REMEDIES Section 12 . 1 . Events of Default . If any, one or more of the following events shall occur and be continuing, hereby defined as and declared to be and to constitute an 4 "event of default" or "default" under this Lease: (a) Default in the due and punctual payment of Rental =' Payments or Additional Payments ; or (b) Default in the clue observance or ` performance of any •� � � x�; other covenant, agreement, obligation or '' �L7 Lease on the Company's Provision of this Le1}i• t`J part to be observed or .xr. •• °�' performed, and such default shall continue for 60 daysi�,� a. , after the Issuer or the Trustee as has Company written notice specifying s given the Y g uch default such longer (or 9 period as shall be reasonably required toI Mc , y q gill cure such default; provided that (i) the Company has commenced such cure within said 60-day period, and prosecutes (ii) the . Company diligently such cure to 't completion) ; or 9W (c) The Company shall: (i) admit in writing its inability to pay its debts as they become due; or (ii) file a petition in bankruptcy or for , reorganization, arrangement, composition, V ; readjustment, liquidation, dissolution or similar . '' relief under the Bankruptcy Code as now or in the gip' future amended or any other similar present or future FM1 federal or state statute or regulation, or file a pleading asking for such relief; or (iii) make an assignment for the benefit of creditors; or (iv) consent to the appointment of a trustee, receiver or liquidator for all or a major - portion of its property or shall fail to have the appointment of any trustee, receiver or liquidator made without the Company' s consent or acquiescence, vacated or set aside; or (v) be finally adjudicated as bankrupt or insolvent under any federal or state law; or a (vi) suffer the entry of a final and non-appealable court order under any federal or state law appointing a receiver or trustee for all or a major part of its property or ordering the winding-up r -33- E l ` � {:' <.1 F ri t ry,t' 14 it ,3 j•S�. rsit t rst" t t n} .in,.,,,�;,r:<, t:'"�a.. I i :, �•�'•' '"fit J�r�p,��tk. ..{Aa&,•t;ltt�iii ;�:��'>>r a � �v +.,..1 } � .t:>; ,tr��a�i txeat ,�r,4 �{ t "' 4r ��r�:.� t�,'"F, r n e x{'�,y .Y 5 k r .iw i� �r } r., F .�.. F xt.; S bi•rAr I Ectt. r r9:.1. .'�'{ .r;:�:,, f+• s `�t':`f'x ict� �}max. d 4 r} 1 ^«PiY I t'.e t Yee, '1 T�.�13;Tj+ d i S `d..,tK:'iYy'�}4,� 7,1 S �� P.,''�t7":�. }!�+t •�'r.6 6. .� ,>�..c»x!}$� c�.i•: ,!, +y t=1'21�.4t c' '£5 �r I�7} :}X�'it 4'1•'4«ot'a{{�fi i�' r� ¢t" t12'A r3 ��'�j `?�C'x,t z<� •3�"HC�`st�� ~s �S�,F`-t�,+} `�j, �;y i 1.5 .t! a .`t n .�v.{t+ ! r�teny e:u t .t-�t � Nti£Z e rs 1��'1•a 4t.NI "i s l ��t .�S,qr,�,t<,. �..,r <'�� h��'�'� fie. � {s} �:tt t �tY' w di � �. ;��si ��t >•#' ` t � tT}�r1�°I ' t {s+ 4. s� �v L� 3 7� � nfi..+ yi2ia- t7 S J ,I tx f �! �5� + r si sa '�L �F} t }�p� .•� �. ..4 t'4>�c i 1 r 1t� r e� i J ,, , � �e + `t d{, =s ✓t t ;r� itrp � F :t�F;Y4{��t �y�'�'� `'4t ,,t,•, :ktxlr. .tvj it:'. { •,t �, +' 3 1 ,fr '.S` x' +.: : r}'i a .^,,t4 f r t!i" ,dr {t tt t :(t�x.. �t,},.ri ?• tt a .ii t.,inl t s 1 i'1+i,� .x '.+rr..,n.wr.emr&t v>,h,-iY4...J.W s:._.L+ir �LJ,s.. ..•. - t"•` roving a petition or liquidation of its affairs, or app A.yµ.rfi .. Code, as now or Y . filed against it under the Bankruptcy � ' in the future amended, which order , if not consented 4r +ray a to by it, shall not be vacated, denied, set aside or �4 s stayed within 60 days after the day of entry; or � = k �r$iYC• (vii) be subject to any proceeding, or suffer a , . writ or warrant of attachment or any similar process court against all or any an to be issued by y ' substantial portion of its property, and such writ or warrant of attachment or any similar process is not .; �_1 contested, stayed, or is not released within 60 days after the final entry, or levy or after any contest is finally adjudicated or any stay is vacated or sett ' aside; or (viii) the Company shall not vacate or abandon the .1.r Project or shall have been ejected from the Project or any portion thereof by reason of a defect in title to rCi Project and the same shall remain uncured for and unoccupied for a period of 30 days . t Section 12 .2 Remedies on Default. If any event of default .. referred to in Section 12 . 1 hereof shall have occurred and be then the Issuer may at the Issuer ' s election irrr continuing , f (subject, however, to any restrictions against acceleration of the maturity of the Bonds or termination of this Lease in the 4, .•' ' Indenture) , then or at any time thereafter, and while such T default shall continue, take any one or more of the following actions : (a) cause all amounts payable with respect to the Bonds r y,. for the remainder of the term of the Lease to become due and payable, as provided in the Indenture; or ' (b) give the Company written notice of intention to ,.::..' terminate this Lease on a date specified therein, which date ,#f^. :t shall not be earlier than 30 days after such notice is given, alb; and if all defaults have not then been cured, on the date so specified, the Company' s rights to possession of the Project shall cease and this Lease shall thereupon be terminated, and the Issuer may re-enter and take possession of the Project; or ; }' (c) without terminating this Lease, re-enter the Project t,'.,dttr11Y or take possession thereof pursuant to legal proceedings or `. •rs415.. S notice provided for by law, and having elected pursuant to any to re-enter or take possession of the Project without terminating this Lease, the Issuer shall use reasonable ,•• diligence to relet the Project , or parts thereof, for such term or terms and at such rental and upon such other terms and conditions as the Issuer may deem advisable, with the right to make alterations and repairs to the Project, and no such re-entry or taking of possession of the Project by the ssuer shall be construed as an election on the Issuer 's part to } ' -34- `aa 777 'r...' .'NSF. Y1' i'v+tf'l° �PwIS` p.`�"...- r•� ^�"�^' .t t. i s t 't 1;. :. i �i�%r:; fi :1;,: #+ �� ' '. 4 C. 'R5�' c� � t t Y ;+. ' r. 7 }r-S��i n .xf•'i+°1 k. .Sn. �y.r{. 1'•i; ?,',, . ,f. ;��s'•'st.r ,4,. t.nt :i r' ^ .(;. ` :1'',, 's }}-� Fe+,. ti + ' k +tris. } 4 't r 'r;9'7' .tir4 ty �. :i� ix' ik�,' 4 ty �.d A•y-r Oil 5 1 - C • t' 4 r, , { .C .?IF o Yf3r f }, � tisf, '�g�Y� k� �V��1�'C r 1 '• ., .. li . S ,,. t. .i :� ;sue•.; F�t�, �f y. x.}',:I 2.''�tDy's!,s'��x;i'��'V� s � e and no such re-entry or taking of ° a•A terminate this Leas re lieve the Company of its possession by the Issuer shall re obligation to pay Rental Payments or Additional Payments (at k a , � . : the time or times provided herein) , or of any of its other _ F obligations under this Lease, all of which shall survive such ^, t f�, re-entry or taking of possession, and the Company shall rys, ta.P;, f" continue to pay the Rental Payments and Additional Payments provided for in this Lease until the end of the Lease Term, Fxs �4r ' whether or not the Project shall have been relet, less the net j�j proceeds, if any, of any reletting of the Project after deducting all of the Issuer ' s reasonable expenses in or in connection with such reletting, including without limitation t b f all repossession costs, brokerage commissions , legal expenses, expenses of employees, alteration costs and expenses of s r preparation for reletting . Said net proceeds of any relettingsE ; shall be deposited in the Bond Fund. Having elected to ` re-enter or take possession of the Project without terminating this Lease, the Issuer may (subject, however, to any restrictions against termination of this Lease in the Indenture) , by notice to the Company given at any time ;r.. . thereafter while the Company is in default in the payment of Rental Payments or Additional Payments or in the performance of any other obligation under this Lease, elect to terminate this Lease on a date to be specified in such notice, which date shall be not earlier than 30 days after re-entry under (c) above, and if all defaults shall not have then been cured, on the date so specified this Lease shall thereupon be with any of g � terminated. If in accordance the foregoing y<•j;. �.,,,• provisions of this Article the Issuer shall have the right to elect to re-enter and take possession of the Project, the J41,r ' ;` Issuer may enter and expel the Company and those claiming 'r^"r ,� `;',r::•a. through or under the Company and remove the property and effects of both or either without being guilty of any manner of 't °' �z W trespass and without prejudice to any remedies for arrears of rent or preceding breach of covenant . The Issuer may take , whatever action at law or in equity which may appear necessary ,; or desirable to collect rent then due and thereafter to become {< due. or to enforce performance and observance of any }` ,a ;. obligation, agreement or covenant of the Company under this Lease. Section 12 .3 . Survival of Obligations . The Company ` " covenants and agrees with the Issuer and the Holders of the Bonds that its obligations under this Lease shall survive the cancellation and termination of this Lease, for any cause, and that the Company shall continue to pay the Rental Payments and Additional Payments provided for in this Lease, all at the time or times provided in this Lease. ' Section 12 .4 . Abandonment by the Company. If the Company vacates or abandons the Project, the Issuer shall have all the same rights and remedies against the Company by reason thereof as are herein granted to the Issuer upon and by reason of a ' default of the Company. -35- .1 '^-•^,..uy. f rr !S r 4LSWt+:rrt."w""...` "".."""°.'':.." nr ir7 J,r fy4 .•1 �,.`'3 { !7 t t w + 4 r�t..t S1F+.bt •� NI qtr + , t'•$' r '.a-+...-r.•.—......._ t (t t �r ��*`w`�� . ��„�'.J'�� a' k '.7 t�'rr'�.� " '' it .i +•3�'.,�',y��a' ?�:� '4 r ". +,}i- ��`*��titz 5 :'ktev Y:4'aainrn.,w..+n...r?rAfrt'rM,S f:3:.Cf�lw.'O,f`` } ,�sr 'a Y c.f zry.5+;,r r�(,.>4p d r?Cv si R z t :.1-;"^•...5' ?.` .t z .. t z i i ,' y .t g ,��4' *�t ,''{�'{c_i.,y� _ i>':.nr s... +. ". .3 'y. ��r� t i*<yy4 ' C'i '•pis k"Y`S��?'}�`� ' �of i t+ Section 12 . 5 . Performance of the Company's Obligations by >2k% 7 ,, MM'Elm �: the Issuer. If the Company shall fail to keep or perform any u' =t of its obligations as provided in this Lease in the making of ' any payment or performance of an obligation, y 9 then the Issuer, �4 or the Trustee in the Issuer ' s name, may (but shall not be obligated so to do) upon the continuance of such failure on the Company' s part for 60 days after notice of such failure is t ; given the Company by the Issuer or the Trustee, and without ��+• ;_•;.• waiving or releasing the Company from any obligation hereunder, as an additional but not exclusive remedy, make any such payment or perform any such all sums so paid b ,� ',;.-,..• the Issuer or the Trustee and all necessary incidental costs and expenses incurred by the Issuer or the Trustee in performing such obligations shall be deemed Additional Payments . al and shall be paid to the Issuer or the Trustee on demand, and if not so paid by the Company, the Issuer or the Trustee shall have the same rights and remedies provided for in Section 12 .2 hereof in the case of default by the Company in the payment of Rental Payments . ` Section 12 . 6 . Rights and Remedies Cumulative. The rights and remedies reserved by the Issuer and the Company hereunder and those provided by law shall be construed as cumulative and continuing rights . No one of them shall be exhausted by the h : exercise thereof on one or more occasions . The Issuer and the Company shall each be entitled to specific ern: P performance and injunctive or other equitable relief for any breach or { threatened breach of an of the y provisions of this Lease, notwithstanding availability of an adequate remedy at law, and .§.,,." ;;d•`Ssrt:� f u Ip each party hereby waives the right to raise such defense in any proceeding y5 ' P g in equity. - Section 12 . 7. Waiver of Breach. No waiver of any breach ,i.. °' >, of any covenant or agreement herein contained shall operate as a waiver of any subsequent breach of the same covenant or agreement or as a waiver of any breach of any other covenant or agreement, and in case of a breach by the Company of any ; covenant, agreement or undertaking by the Company, the Issuer ' may nevertheless accept from the Company any payment or T payments hereunder without in any way waiving the Issuer' s right to exercise any of its rights and remedies provided for air. herein with respect to any such default or defaults of the Company which were in existence at the time such payment or payments were accepted by the Issuer . Section 12 .8 . Trustee' s Exercise of the Issuer ' s F Remedies . Whenever any event of default shall have occurred and be continuing, the Trustee may, but except as otherwise provided in the Indenture shall not be obliged to, exercise any or all of the rights of the Issuer under this Article, upon notice as required of the Issuer unless the Issuer has already =' given the required notice. In addition, the Trustee shall have available to it all of the remedies prescribed by the Indenture. ra -36- F �R ^^^..�-^ , i }'if 11'3'z tt i ,r.. R;"L�� .*$trF>4�,2;,pr.`i• C �. � = t 's ..j t. r-. i.$ 11 { y,r�+ ' rl'q�v tt��pts �.'�r:?�: 1 .r 'f .t�..�,��'r�;'.'•1dt:��r{!G"h"r'}=:y\ ' s t �f }t'_ s :i .s'.'t ,. 0 'f r.5 f 'i�v.r4 �� 1 '1' �-��,f,a �i1.�:^•=`Yi " .1 t' t, �;:: ' i ly. 4 '�j{.'��ixXJ �r1jx+' i�,�sx Sri r�� a ��"r rlJ,na�' y, '`�y ia{ ti:3 '•/1 l'' is. ,3 (i' > a�'=i��k�4;e� " s anti s '° Jyti• fi' ,.S r n s; yy ;" !' { .� s i .5 ��:y.,• ...fr fir., ,,1 .f �._ - ';{. r Et y. tl j +.C.4fir .""^ K' ' f7 '.':"'' 7 `"'.. is+.. +r•.+r..!..r.•gw. 4 .. '':1tiY 2IJ7t T'{,a lYd.4lly.L I,th�L rY fY �4i.i.S3� P 1"-.•'7;xT''�'7 mwtt ja 1"<i �� ,� �' � n 4 e1•�'�'S"{✓ ��4 M.Y}f t& i'�.¢?J rf,} s3 t i 7 F i { 'S' t .,a .':'.t y a tt. '� . " u�4 ti< "��. $ "�, � ..y� "t¢i ,��4x"lY�i�tit. Ni�a� i t�eig,:` d:.fit:., i ,e6. � l; •t:. , S • Y a � A t },#�t`Y y `i,:,may .. .. .• . •S ^ N� ARTICLE XIII ' AMENDMENTS, CHANGES AND MODIFICATIONS Section 13 . 1 . Amendments, Changes and Modifications . Except as otherwise provided in the Lease or in the Indenture, Y subsequent to the initital issuance of Bonds and prior to the payment thereof having been made in aac nod b�eeffectivehe provision of the Indenture, this Lease may f. amended, changed, modified, altered or terminated without the written consent of the Trustee, given in accordance with the provisions of the Indenture. 1 ARTICLE XIV k.1 MISCELLANEOUS PROVISIONS :ta r•' Section 14 . 1 Notices . All notices, certificates or other {' communications required or desired to be given hereunder shall h be in writing and shall be deemed duly given when mailed by registered or certified mail, postage prepaid, addressed as f follows: (a) To the Issuer : City of Jefferson, Missouri City Hall 320 East McCarty Street ' Jefferson City, Missouri 65101 Attention: Mayor { b To the Company: Scholastic Inc. �.. 730 Broadway New York, New York 10003 Attention: Vice President & Chief Financial Officer (c) To the Trustee: The Central Trust Bank 238 Madison Street Box 779 Jefferson City, Missouri 65101 Attention: Corporate Trust Department All notices given by certified or registered mail as aforesaid shall be deemed duly given as of the date they are so mailed. A duplicate copy of each notice, certificate or other 4. communication given hereunder by either the Issuer or the Company to the other shall also be given to the Trustee. The µ.• Issuer, the Company, and the Trustee may from time to time -37- i i t .� bu�fd4� .'Y �` � �`�� 5� {,:SI eM� .ti �>'• sK•y " 3 '•Y�i � '3 't .•.• yM��,�tl.fl t ••},,�� Y dj. d, r ��J e*t � � r�,v S -.�` Yi7�r ' 5' 's&i'A t t+'}�: ?� i�.�+>y+4 t� {3t3+ �i e�'�',��"' '^`•t3 x' ,. ,t� .•d'y,�?s,t''�}� " i° •�.�'`4�`e��if��!�t'r Ft�'y 1`4��a{"`Y`a{�e s+ �Lrfit3'@ �•t�,,, 5' � a � { , �;xt4<<y�'�r t�.n�Vx t�i� 't{}�S.:�N'v.- (��.rS�a'�k'R�;,,�'� �� sY ny'�•��(a.�e+,C��} t:.'�a3,t,y1�q�1��53'`t„{'�� i' , i u :'�;'1" Itt ,? iet tii L41�'SG1''1} °vx r5'lti rn7''{�f' ;rl rt Y bt .1">wY }> mpa'"i•` .TM'r `'a:ij k i�r �yK t-(Y��`i �5 �dy�. :<',.'' yy'�?�'tl,¢'�yf r�., a.r`.t s' -}'�4 4��;<4�`�.y�` at .S'J��'t+��'° �'�h%�' '��•�'p�' •" :}, 1 � " 's ,� � � t, E, �! � �,}r v •t`�i!;o. 9 E� rr� p b }i'N s St +.1^j{` tz.t•x�i.. � t�„ ^a?,,� �= l •R.. ,{n ,U +t• �• y,y.r.;,. 'e„ ::K ., ! t a ,;,i..aJ >;,..Y r " f•}y 4 �. sE. ,;w.nro,.way..#..-4'htd:.,7,•.t�c5�,t7,,t.yt:sSJt, e ys...„.+......t ,. .,.t!.,.,. ,ti. .x. �``f'..4r .. .. .""... .. °. .... . .. .t�..,,r�S.'uE'��.af"` V � +i ��,,„„ •4, :��tF�NPh3 designate, by notice given hereunder to the others of such parties, such other address to which subsequent notices, t„ kb certificates or other communications shall be sent . $°f'`al Section 14 . 2 . Issuer Shall Not Unreasonably Withhold ° Consents and Approvals . Wherever in this Lease it is provided y` that the Issuer shall , may or must give its approval or y p pk�; . consent, or execute supplemental agreements or schedules, pp the Issuer shall not unreasonably, arbitrarilry or unnecessarily ,r, } •=i> withhold or refuse to give such approvals or consents or refuse j t to execute such supplemental agreements or schedules . ;4 ,,t' Section 14 .3 . Net Lease. The parties hereto agree (a) .y that this Lease shall be deemed and construed to be a net lease" , (b) that the payments of Rental Payments are designed t� tF to provide the Issuer and the Trustee funds adequate in amount y,um,o nc to pay all principal f, premium, if an and interest accruing •r on the Bonds as the same become due and payable, (c) that to t the extent that the payments of Rental Payments are not sufficient to provide the Issuer and the Trustee with funds sufficient for the purposes aforesaid, the Company shall be obligated to pay, and it does hereby covenant and agree to pay, `: �tr ,: . upon demand therefor, as Additional Payments, such further sums of money, in cash, as may from time to time be required for t such purposes, and (d) that if after the principal of, premium, .q if any, and interest on the Bonds and all costs incident to the payment of the Bonds have been paid in full the Trustee or the aAja Issuer holds unexpended funds received in accordance with the terms hereof, such unexpended funds shall, after payment therefrom of all sums then due and owing by the Company under the terms of this Lease, and except as otherwise provided in s ' this Lease and the Indenture, become the absolute property ofc' fi `" and be paid over forthwith to the Company. Section 14 .4 . No Pecuniary Liability. No provision, yx5 covenant or agreement contained in this Lease, the Indenture or the Bonds, or any obligation herein or therein imposed upon the Issuer, or the breach thereof, shall constitute or give rise to =:K or impose upon the Issuer a pecuniary liability or a charge upon the general credit or taxing powers of the City of Jefferson or the State of Missouri . .: Section 14 . 5 . Governing Law. This Lease shall be deemed ; J` to be a contract and shall be construed in accordance with and governed by the laws of the State of Missouri . Y Section 14 . 6 . Binding Effect. This Lease shall be binding a ” upon and shall inure to the benefit of the Issuer and the ;. Company and their respective successors and assigns . Section 14 . 7. Severability. If for any reason any provision of this Lease shall be determined to be invalid or } ,F unenforceable, the validity and enforceability of the other provisions hereof shall not be affected thereby. x -38- Pil 77 7,. t t %l 7 +....'.'7;. s,.t�iu'zitbfz"''•t ',. � t 'k �.�'� {"fit t�r r tt i :i S )�,"/ 5r fr il. t yY .,Prr t,•.5. 1,;t. +rt 41 iY Y'. �t ; i � �,t f �Fx. �s °F�..0{j1X � �, `( A. �c3tl t A Y7• f } t ,�, }, �:�f�.a. r,�}LA a�+(^j`�/'�✓r °�'.:�;gi.ru F *i.+$��{� ;r,�.�.r' , r'' ,[ r 1 r•}h:f'.Hf }; t} ' j k d t"i;i�,��'r-1ft2Yr, l+�t;g !j T,`,'.f;� 5 `�� uE f •f t A t f(.4r; 4 t�} f5-: M U '{°,}l :'�f t'%iJ} � .,f�E��yr >{i} {.{. .,} ..J :,•1 F t i.n.�' ..g.. �.r s. 4'�+^jl�rLlr a ,j!y 'a., .�.urn' }d ,t>h r�t ,�' • r� ' i k i ` } .� t �:`.3{r + £��. t p,"+t�•� �`,��' a .A ; q CT t?�,�j,'�j ' r t �''ayk"f"t' $Si;. k. task i r [ [ . �r • t ti . r i a,s Y ftY7�Y��i tr�•i� �C}t*. 'r'1" ^,y. .}. " 9• 1.�. t .J'. t f ''7` .y`R .,J,�� 4 � i i { Y I 1 i 4 r r'? a � .-a'L �jC4��{;•ST��?} 7'k' T''hu{r`N�jyXT1l��F"-t lily�yp�.lmU`,ilir. ,tt >S{i-�'f '� Y�ri.l i;^+y.i'��i .''7��.+i�vf�.:¢��i` �x.'i .,�l' ' 5 Y * Section 14 . 8. Execution in Counterparts. This Lease may be executed simultaneously in several counterparts, each of which shall be deemed to be an original and all of which shall constitute but one and the same instrument . IN WITNESS WHEREOF, the parties hereto have caused this 'Lease to be executed in their respective corporate names and their respective corporate seals to be hereunto affixed and attested by their duly authorized officers, all as of the date first above written. CITY OF JEFFERSON, MISSOURI By ! . (SEAL) Lo Gardner ayor ATTEST: ! 7W• Deborah M. Cheshire City Clerk z SCHOLASTIC INC. t By (SEAL) Name: Title: ATTEST: C By Name: Title: -39- „ .t ft's ..,�' .s:e ,h r t•r� '� r.'�.,t�. �.' "r '!��`£ptk}�'.�Ct��fs"1 r� 'i��fi <Yt��'t^�� ,•.;;ate a t�,` .a ..k.. n ,z.a ACKNOWLEDGMENTS , STATE OF MISSOURI ) SS. COUNTY OF k: On this day of February, 1992, before me, a Notary Public in and for said State, personally appeared Louise Gardner, who i acknowledged herself to be the Mayor of the City of Jefferson, 1� Missouri , and that she as such Mayor being authorized so to do executed the foregoing instrument for the g g purposes therein { contained by signing the name of the corporation by herself as t+l'. Mayor. IN WITNESS WHEREOF, I have hereunto set my hand and y y year last above written. affixed m official seal the day and Notary Public - State of Missouri Commissioned in County 4i ` My commission expires_ r �r pi+ -40- 'Y,, p s+,�at '`u fi_k�' '' Zta7r• ova i I +i r'n�� *^�! i L,>v +�.!'.r'4, � tr rt '„�{. ��.ttrs� �lnyt r t ae INt 1 _ ..�.> M• Y 1 ♦�yy 4 t �; L;ntY'}{t 1��! >t¢ .•t¢T�xy�t�`F, k ! S * 'v! z .l ih�t4 � 1 �. � I w 44' Sy f $ •t'j �Ct! `. '�;� T . aG F �Mi. 4 I a•}? P, ).�� f YA ,.}t 34td _� �i 1} '. 1 .:t � :�i 1 et .�.•'�"��'fY�fid,/'t✓r u.;��4�'t ,. • STATE OF NEW YORK ) ; wt : ) SS. COUNTY OF ) ` On this day of February, 1992, before ; a Notary Public in and for me, r" said State, personally appeared who , acknowledged her/himself to be the .F of Scholastic Inc. , a New York corporation, and that she/he as such being authorized so to do executed the foregoing instrument for the purposes therein contained by signing the name of the corporation by her/himself as IN WITNESS WHEREOF, I. have hereunto set my hand and affixed myI official seal the day and year last above written. x� Notary Public - State of New York { Commissioned in County c'Y :Y My commission expires Aft T;. L� -41- M aIsk(11iF� at'i nn yy"7�iII k 1 tkAfeiY . 4' i �` T�: �!�".. ..Y y f •✓�+ `FLT �5��r'4t '}'Zt�N'1'ETY � t�'l4x��'x{:,1�' U" �7 S { 4 :3 YY i�; d r.L b rp{„2r4`"�yyt``i .!. t�4g �1 t .. ., r' <.j., li y�i,r+,:�t+i fi.� ..Yxw. �ar8'�'tn 4'a � ._t,z•,. n ) Y, T t j�7t,. !•.," �, 4 . r s C r i }�F, ,T do f.,.= .&�., tt .a.. Y.• .R+r .. -t A EXHIBIT A w i PROJECT SITE } All of the following described real estate situated in the Ys` County of Cole, State of Missouri : Tract 1: A part of the Northeast Quarter of the Southeast ' Quarter and a part of the Southeast •: . Quarter of the Southeast Quarter of Section 22, and a part of Private Survey No. 2680, all in Township 44 North, Range 11 h. West, Cole County, Missouri , and being more particularly described as follows : rr From the Southeast corner of the Southeast Quarter of the Northeast Quarter of said Section 22; thence S 830 { 16 ' 42" W, along the Quarter Section Line, 793 . 61 feet to the Westerly Line of McCarty Street and the point r of beginning for this description; thence continuing S 830 16 ' 42" W, along the Quarter Section Line, 574 . 65 feet to the Northwest corner of the Northeast {' Quarter of the Southeast Quarter of Section 22; thence S 05° ' 00 00 E, along said � �� g Quarter Quarter Section Line, �b 1562 .43 ' feet to the Southwest corner of a tract of land as conveyed to Joseph W. and Amorette M. Trigg by u` deed of record in Book 137, Page 174, Cole County Recorder ' s Office; thence N 830 12 ' 22" E, along the .r South Line of said TRIGG Tract, 1468 . 99 feet to a point on the Westerly Line of McCarty Street; thence . . , in a northerly direction, along the Westerly Line of b said McCarty Street on the following courses and k: distances; northerly on a curve to the right, having a radius of 1482 . 70 feet, a distance of 331. 07 feet; 4 thence N 680 47 ' 54" E, 10. 0 feet; thence N 210 12 ' y 06" W, 430. 70 feet; thence northerly on a curve to the left, having a radius of 1106 . 31 feet, a distance of 163 .49 feet; thence S 600 19 ' 52" W, 5 . 0 feet; thence Mr northerly on a curve to the left, having a radius of 1101.31 feet, a distance of 96 . 07 feet; thence N 550 19 ' 58" E, X5 . 0 feet; thence northerly on a curve to the left, having a radius of 1106. 31 feet, a distance of 357.88 feet; thence N 530 12 ' 06" W, 444 .46 feet to the point of beginning. Containing 40. 87 acres . Tract 2 : A part of the Southeast Quarter of the Northeast Quarter of Section 22, Township 44 North, Range 11 West, in the City of Jefferson, County of Cole, Missouri, and being more particularly described as follows : -42- A. .; Is3 rm.4a1 7YS r n1 V4"�X dM ;'fn�r nr}}5}'4 X a.:gi w,A� 'x2SsF�,"' i t,i`f"7�i P"1.>�e";i 236 `•'3 t �' ( �i {{ 8 t�`. {t i s ,i11,, 'Su)`ry;,' r^�' 1 ` ��i{"`�fIr .Jr nii t s.5 1 � jt �G J'r x}S �11 .� �] *A �'i 1'�"b}�)�zr�•t�6 '�k:;�'t `{n�„ ,� a .^i3'' *�e.,.Q` .: �+' z�'��'�4s�4 .x'�f,'rt'k. y�:jsa{�tt{".�+yy�i {s.f.�, 7 �`z�`'�/.4 '`s.f��r . Rt., rfi,�=si` 1"y Y-t 1'y�3'�': ��.�"w�� yE ; •4 r. .,c4 f}.3a"�.,"?, ;ti,sk2 }a., 2 �e,x C�j+ ktAk i•a + °' A 3v1 Jf. $"1 p E� r,i.+" r°y�i r ,' � f ;t r �� j k:xt h rr s''�t� � 't.s{�,• 'cK 1�y' �i ,. '4s } F.1t`I� t ..7 z � y s 1' '.j 5 ix}. Y Iz .�h�'� }"s ,.• a i, __ _ .,�rellYd— -wa.:r.rermtircwifn" .ivaee"r.�r#� en.� ei�fa��An 'uo�aluutawa �. .t t, } ra -`ff " + tFl ` � �� j 3♦�i � �f+,��i[}i,4� s 1 h From the Southeast corner of the Southeast Quarter of the Northeast Quarter of said Section 22 ; thence S 830 <. 16' 42" W, along the Quarter Section line, 793 . 61 feet to a point on the westerly line of McCarty Street and the point of beginning for this description; thence continuing S 830 16 ' 42" W, along the Quarter Section ' Line, 567. 13 feet to a point on the Easterly line of City View Drive; thence N 2711 56 ' 36" E, along said Easterly Line, 198 . 68 feet; thence Northerly along said Easterly Line, on a curve to the left, having a radius of 659 . 94 feet , a distance of 184 . 12 feet; thence N 85° 30" 31" E, along said Easterly Line, 117. 05 feet to the Westerly Line of McCarty Street; 'thence S 360 42 ' 06" E, along said Westerly Line, 34. 54 feet; thence Southerly along said Westerly Line, on a curve to the left, having a radius of 1186.26 feet, a distance of 341. 62 feet; thence S 530 12 ' 06" E, along said Westerly Line, 37. 04 feet to the point of beginning. Containing 2 .37 acres. -43- 0 y > , '• s' ! '.' fia�`,ti-4u{ iTt , d� �S y�J 5 ryou }ic,^ ..:3, r i. .. �} �� .£ w� �.;�:. �'aN I ., '�. 0 •.0 je,f �ir��. i�,"'At',r i a. n$*S��'s� r";�'-j�� }r.3yt'sL., 1 '� c Y L aN EXHIBIT B (FORM OF REQUISITION CERTIFICATE) k3�;f�h 1ti" rL 1y }° Requisition No . Date: REQUISITION CERTIFICATE b' TO: THE CENTRAL TRUST BANK, AS TRUSTEE UNDER TRUST INDENTURE DATED FEBRUARY 1, 1992, BETWEEN THE CITY OF JEFFERSON, MISSOURI , . AND THE TRUSTEE, AND LEASE AGREEMENT DATED FEBRUARY 1, 1992, BETWEEN THE ISSUER AND SCHOLASTIC INC. rs The undersigned hereby request that the following amounts be paid to the following payees for the following f ' Project Costs as defined in said Lease: r f Amount_. Payee and Address Description We hereby state and certify that: (i) the amounts requested are or were necessary and appropriate in connection with the Project, have been properly incurred and is a charge against the Construction Fund, and have been proper or are justly due to contractors, subcontractors, suppliers, vendors, materialmen, engineers, architects, or other persons whose names and addresses are stated above, who have performed necessary and appropriate work or furnished necessary and appropriate materials, machinery or equipment in the construction, purchase and installation of the buildings and improvements referred to in said Lease, and has not been the basis of: any previous requisition from the Construction Fund (ii) as of this date, except for the amounts referred to above, there are no outstanding statements which are due and payable -44- r. f J M1 „' t } ��' a ; '• ro.51ti5 'a 7�7..�1 . 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J t'rtt 4, �Y. „ ,}� J.y�«�;,'L'.j•<2tR'�;' t 3A�/,-� tn' t «� .. ! + ; 'rt ic( s�a i- sw h t + .t .," .E t c .. " "�•�r �tF�```�t 1'�"t �t., �� ;Y ;� i. 4 7� .9c f"t;.{ t f it 5�,. .45 r} {.+. t rt ? ' ....,� r" r F: .,r. . t • r "..;ir... :,�.:. �r n.m �q r� � �t¢.� rya �k tltti ar��, 4 .r. .°•,,.. a. < '.h��°tit^H;. •+ ' , ..t _ ... .. a+ s. xA 9•" GUARANTY AGREEMENT ; ,e. r va qg THIS GUARANTY AGREEMENT dated as of February 1, 1992 (the "Guaranty" ) , between SCHOLASTIC CORPORATION, a Delaware corporation ("Guarantor" ) , and THE CENTRAL TRUST BANK, a state trust company with its principal office in Jefferson City, Missouri, as Trustee (the "Trustee") under the Trust Indenture dated as of February 1 , 1992 (the "Indenture") , between the City of Jefferson, Missouri (the "Issuer" ) , and the Trustee; ><, a WITNESSETH: ;�r y. •;u WHEREAS, the Issuer, a municipal corporation organized ';. :Y . and existing under the laws of the State of Missouri, intends to issue its Industrial Refunding Revenue Bonds, Series 1992 (Scholastic Inc . Project) , in an aggregate principal. amount of . 1 $3,575, 000 (the "Bonds") ; and { WHEREAS, the Bonds are to be issued under and pursuant " to the Indenture; and WHEREAS, the proceeds derived from the issuance of the Bonds are to be applied to the cost of refunding a prior series of bonds issued by the Issuer for the purpose of paying tghe r cost of the purchase and construction of the Project described in the Indenture (the "Project" ) for the benefit of Guarantor; �> and WHEREAS, the Project is to be leased to Guarantor > (with an option to purchase) , pursuant to a Lease Agreement dated as of February 1, 1992 (the "Lease") , between the Issuer, 4' as Lessor, and Guarantor, as Lessee; and ' " WHEREAS, Guarantor desires that the Issuer issue the Bonds and apply the proceeds as aforesaid and is willing to enter into this Gualranty in order to enhance the marketability of the Bonds and thereby achieve interest cost savings to Guarantor and as an inducement to the purchase of the Bonds by t all who shall at any time become owners of the Bonds . NOW, THEREFORE, in consideration of the premises and in order to enhance the marketability of the Bonds and thereby achieve financial benefits to Guarantor and as an inducement to the purchase of the Bonds by all who shall at any time become owners of the Bonds, Guarantor does hereby, subject to the terms hereof, covenant and agree with the Trustee as follows : h± r ' Y ,.,y'ei �fv�'� ¢v j-{�R j t.�4t c.f. p a{;�,1r• �. 1d�]+.c�s"1`"�r. .¢f�"SII�¢�r°'�,�'"�yN,c" •, !'„2r"`t {i��"$�y'+� S� �r p dr.�n #��a- m y t�t��',t .�� r t7"iE .��.• �$�!� f '�yt'k'"v 1Y'�k t'R {ay.} 'T � �k}£ Ijt j l3f AA "x i 1S[i'�`E s4 't�; "�Vw f.j�"t��^'" ye� 4 t�) ; X1`65 Ct+ :r� t t��'� t ?> .2 �.p a `#tyF,!t #,�11 ar �.. ��• is.'<t�`{{�r,aka r�S4xt'}i i�:f{{r-,f , i #'.'' {; w ��r s T Tit+ i6 t'�.r' 3'S' i.i+,"S. {fir �t ,Xte '¢. 1 ff t t• 1 1{' Fk # :r _,�, � �, "'44°' i 4;,�,cn4�''�'a .e•,s`c't'1 .i W`ir � .,� 'ry l(�i}�, r{ a T t: ! b �1T S .s a �. �. y� q��fpC J�, �, d t}tt{xppi . •,, 4bt3 tY r, 1 .>{ .;, �,r£ `, +xiy.�'{�Y�an. �+fr��W.ac`k�;j+4.'x y>; rY:{i i a .:4✓Y s�;' yr:{ � �y � �p,, .t� } t .2J � S �7'f"L•'St� ry roct�,,++??,,tl it�t+-X�".f Syr��{'�"'�tf 4;�,is^t'6rv` r .t s rA�r k r : i`... E t .Yj l i zrt r r.��j ri'* 'h,rr'"d� �,{t'!r.,a � �� /t h rh�{t��r t�rr ��'�`4 iY'K�{it�#Yt@ rrS;"1.,:Jt..i .e ;v w �r)'.ii a. t '•' • SSi J� ARTICLE I REPRESENTATIONS OF GUARANTOR °•' Section 1. 1. Guarantor does hereby represent and warrant that: ? (a) It is a corporation duly incorporated and in good standing under the law of the State of New York, ` is duly qualified and admitted to do business in the State of Missouri, is not in violation of any provision of its Articles of Incorporation or its >?' bylaws , has not received notice and has no :b reasonable grounds to believe that it is in violation of any of the laws of New York or Missouri , has power to enter into this Guaranty, , has duly authorized the execution and delivery of err, this Guaranty by proper corporate action, and neither this Guaranty nor the agreements herein ' YF contained contravene or constitute a default 's under any agreement , instrument or indenture or any provision or its Articles of Incorporation or any other requirement of law; and (b) The execution of this Guaranty and the assumption .> by Guarantor of its obligations hereunder will result in a direct financial benefit to it. r ARTICLE II � THE GUARANTY Section 2 . 1. Guarantor hereby unconditionally guarantees to the Trustee for the benefit of the owners from time to time of the Bonds : (a) The full and prompt payment of the principal of and premium, if any, on each of the Bonds when and as the same shall become due in accordance with the terms and provisions of each such Bond and the Indenture, whether at the stated maturity of any Bond, by acceleration, call for redemption or otherwise; and (b) The full and prompt payment of the interest on each of the Bonds when and as the same shall become due in accordance with the terms and provisions of each such Bond and the Indenture. All payments by Guarantor shall be paid in .lawful money of the United States of America . Each and every default in the payment of the principal of, premium, if any, or interest on v r —2— ; �uu F' � F n Sr�xJ%xh� ry r,.Rtt" r,, tit tn. . rf*�k � afa six.' ,r as t iGtkw o ,rk i ,irJ�; � + it Wit - ,{Ra Y�t12W d+ t'3 r'ti"Y>?✓,+r• r t��.��s: i d�LfS'�44Y ' %- Ji ♦ >. 't,+ b r ��{rti��-Ta. '`tn,7 �'rt�+�4 -,1'"tb]F t'e �} _'�'� � r: � '. � 'St <+i��4Rvf°'�'�j�;„, ��Rr1�a,�,.1h 5ti'(...,5 �t "tr {t� '��' �2 � r4t P� € � r if,��t,t-!'4 y�,r f', •t r i s<U+r.xr�t �- :s, #� y.:f,�` ',�,�,�b.-.i't..., �•�.*,".,i+,' -'� t 11s y `u.�.}:r t, �A,r. }' f ' ( y.�!N!� ; �1�+"'.".,p.o..o�q-°^+..y..n•r!......�ewr r r. �m'�t$z §�C 4�a"`,�" �a,�t-'- ,..,i•.('... 'n' .,i :YtA. .T� �..,1 4x �pvl. v � � tlf^s i:v {'.}iA S. 47�2s• { . MSS' 't^ '1 y }�Ykviw .} nEt. ;k T,tk-r dsa.> 4ra:.e...?,. .t'.�.?F�.. r;,,,a3.e :{.1'.. 'f....�� ^r,.r Aft `. 1e+ any Bond shall give rise to a separate cause of action hereunder, and separate suits may be brought hereunder as each cause of action arises . Section 2 . 2 . The several obligations of Guarantor under this Guaranty shall be absolute and unconditional and axe shall remain in full force and effect until the entire principal o£ premium, if any, and interest on the Bonds shallt, have been paid or such payment provided for, and such >:.. obligations shall not be affected, modified or impaired upon the happening from time to time of any event, including without limitation any of the following, whether or not with notice to, { , r or the consent of, Guarantor : r" (a) The compromise, settlement, release or ` termination of any or all of the obligations , 4<', ,' covenants or agreements of Issuer under thezt Indenture; (b) The failure to give notice to Guarantor of the ' occurrence of an event of default under the terms }e,;tt+, • •t, and provisions of this Guaranty or the Indenture; (c) The assignment or the purported assignment of all or any part of the interest of the Issuer in the i Project or any failure of title with respect to �. y=, the Issuer ' s interest in the Project; �>t pis t •= (d) The waiver of the payment, performance or observance by the Issuer or Guarantor of any of ' r the obligations, covenants or agreements of + .± either of them contained in the Indenture or this ' Guaranty; - (e) The extension of the time for payment of any principal of, premium, if any, or interest on any Bond or under this Guaranty or of the time for performance of any other obligations, covenants or agreements under or arising out of the Indenture or this Guaranty or the extension or the renewal of either; +" (f) The modification or amendment (whether material or otherwise) of any obligation, convenant or agreement set forth in the Indenture, provided �:R r that the obligations of Guarantor are not thereby ; increased or expanded without its prior written consent; (g) The taking or the omission of any of the actions referred to in the Indenture or any action under 4 this Guaranty; AW1 : -3- i` ..: `1�,Sy� .�,'-�is'�.j f�}.�1''l�%yfi z �, 4 1} y`i r , ; 1'. rfi(1 tF j♦ }i: r a,�i. a . pfS t dh•�;r �a'�. ; }}, '9 R a'a•k> t4 rah,tint i,,` r a i tt.t l J r v !� t, t. 1 }j�rq t 4F� b r dU s a..rr� s '� rV si s4 s tt. Kra r a xr fa�>yrn i +s �� F ;. ,§;'z,v �.7 t' �• f r n sgt t ti$. a,.rFS. ... �� i t- •+'' 4r a >r s�r � ur i� �,,tr¢�'�P�,�t`y'Tk � �� .'tr� t s., vkh: •�' t y� jx S i }!y. 1 ny Jay`' 4 t�L4 �.K )1 "� {�'i°rr s., k S4�.J/r�;r,t . )^'�' d r t yx t �,r.• t, t�"}` I` }:, t .i {'t: t 4 4 fe} n1+ �,.,,.p;", } k• t ,.�j5ydJ?3R'f .I� NS 3f..'T J ,1' ri{,•$ 1' r - .'C i L 1 } !' ) t'{R ,l• Y1tJl'}4..� � ' Et {i i .' I ae ' : 7� t i. i? c r." ' s . }f 4� �. .YS• 'f�:$' ,�e .7:0., fiy9y.�,.2�,.¢:�,i-..;;.,; Jr �. � t V..„y ,r s e r tr.s i• .r r JS , "p:},a r t5tr!l+ �r.r 't*E; a t,{,•t w i j k ` t`t a `+ a. >>t�r t� tyi' 1 a ��'y%�y w�iessmaIN81111Rm --�f11111M�tMd�M - -----_.Mid '�. z p`tt , s.i;�r ,, ; ,:•_ t . . + ,��,.r ., ` ,r:ih�pkt+ ,� k" .��.x vn b Y jIa��..n,. t 74 1 .f'JP •p ,l 4t tY'E n f [ 1 f . .�, t, t�l�7 � .7 f,{t�,'".f��'�!' }'L":4-,s �+,iyk;��t ,�" •�'4 t:I � 9 r, t ,L i t , "`.'"t•-:g„ i :=I: yy n �.i (h) Any failure, omission, delay or lack on the part `{ of the Issuer or the Trustee to enforce, assert or exercise any right, power or remedy conferred ,. on the Issuer or the Trustee in this Guaranty or the Indenture, or any other act or acts on the s t. `'`• part of the Issuer, the Trustee or any of the owners from time to time of the Bonds; ;7 (i) The voluntary or involuntary liquidation, dissolution, sale or other disposition of all or # substantially all the assets, marshalling of assets and liabilities, receivership, insolvency, bankruptcy, assignment for the benefit of r„• creditors, reorganization, arrangement, composition with creditors or readjustment of, or other similar proceedings affecting the Issuer or Guarantor or any of the assets of either of them, + or any contest of the validity of this Guaranty r„��•-t in any such proceeding; ;. ” To the extent permitted by law, the release or discharge of Guarantor from the performance or `'`s s.. r observance of any obligation, covenant or � w' agreement contained in this Guaranty by operation +` of law; or (k) The default or failure of Guarantor to perform • fully any of its obligations set forth in this Guaranty. k7 Section 2 .3 . No setoff, counterclaim, reduction or §r, diminution of any obligation, or any defense of any kind or nature which Guarantor has or may come to have against the Issuer or the Trustee shall be available hereunder to Guarantor F: against the Trustee; provided that nothing contained herein b shall prohibit Guarantor from asserting any separate or related claim against either the Issuer or the Trustee in a separate proceeding, which proceeding shall in no way delay the prompt performance by Guarantor of its obligations hereunder. ARTICLE III REMEDIES ON DEFAULT Section 3 . 1. The owners of the Bonds shall have no right to enforce the provisions of this Guaranty or to institute action to enforce the covenants herein, or to take any action with respect to any default in the obligations of Guarantor hereunder or to institute, appear in or defend any suit or other proceedings with respect thereto, except as expressly provided herein. In the event of a default in the payment of principal of or premium, if any, on any Bond when w and as the same shall become due, whether at the stated -4- . i3 of Yfy"' ti,g t t . ' Yib ''t� ✓�i 2Stig�a�, h�. t ('�� r'ySi �1"`+. C '�' � a, i. 4•� �`_ d t' �r,}nt! � } ,f,•'.''' ..7?�.}. r�. y.? (l�kt' "tSt ,�..5g�'� , 4Y,g' y. `r" cr,„#�'k'•' y 41;L'g +� �Y`tt,t` f , tr ti .� 't#f "'+f 1itij, t.7 id fi'•2t) fit` ' r,§x ,�, •.(i'Y"`Y..L�, tit ��}}'n „L'+ '1 >�,�j �t � p;l'+.., 'n5'r t a S{: 3t' d7 p.:!`�'ei:. GtS 'Kr�}.}• ��Fl,� p�1G ;{y� f..�' r S�}�•�^r,}�1Z � 2, �7,} ��ryr�r�`�<dl`9 �an.f� , { „�, s�t'k' �It yt,�5,,.�,! �rt�$'.r�vy G".,.'1 i of •s : .il� t�} l�r + e�'�ra u��!3'��:"f�J'"�� ... . t ''�y� Nr}sv,� � v ♦a Alrjt h.%rots , }u.'C. iyY tl. 1 r ,i,}.{ sf ..� � t pF,�.�1 �� + 5 � �j 1 !k- t b Z,t?r .f lr%� 7' r'Y� r '.3 ff v: h r 7,; S 1 �1; ,.• RY ,7�• j 5�,. �t � _ Kr t Y Y y� ,.r .��%': t'.i �.z.s��5 ,��„c�y ^• ,� e 1��•r{ .. ' ` � .. '.,.. Mr ,.'' .. sa i ".as'�',.f��9r Y^ �{t,�.'rGy,� :{i^t� . t 7.' J f � '. '. '.t•tr•4't.rf 1 .r t 1•vda+' `a -r r111t °'.S4fs�t�r •`Yg >?±�7 'SSr@•r r Y n?..4�:7�4},. ... 4?. :A ,�,,,iv,.er.�t,�`�r�'-�.;?:R1��3.:'�Y.-°�.L�SFY7�ii�� d v'�"t .vRS'+..t�` 3a.�I`;��"?�S^,'�xrA.;�-,:.f£:.n>.k ¢rs N�£`s`<,>�`.'lY.•1v.✓>, .::.t;", a.i:a,=,.:.,.,..,,>"<i,�s^ _.:. r, ...r., .._s]e•... ., ... mrt�C �t maturity thereof , by acceleration, call for redemption ort . otherwise, or in the event of a default in the payment of an interest on any Bond when and as the same shall become due, the Trustee may, and if requested so to do by the owners of not : r less than 25% in aggregate principal amount of the Bonds then Y•k4x„1 + outstanding and upon provision being made for its fees andsti;r<r� ,':. expenses and indemnification as hereinafter provided, shall be obligated to proceed hereunder,, and the Trustee, in its sole ' discretion, shall have the right to proceed first and directly against Guarantor under this Guaranty to the extent of its obligations hereunder without proceeding against or exhausting {r any other remedies which it may have and without resorting to any other security held by the Issuer or Trustee. Before m n=:5rtr' .�,,te` u u!t•'f, taking any action hereunder, the Trustee may require that a satisfactory indemnity bond be furnished for the reimbursement of all expenses it may incur and to protect it against all liability, except liability which is adjudicated to have r 'xg resulted from its negligence or willfull default, by reason of �}},;' j } `I. any action so taken. u ltir l !fit}� Section 3 .2 . Guarantor hereby expressly waives notice +�„ t{_n u from the Trustee or the owners from time to time of any of the R Bonds of their acceptance and reliance on this Guaranty. `' Guarantor agrees to pay all costs, expenses and fees, including i all reasonable attorneys ' fees, which may be incurred by the 5 +� Trustee in enforcing or attempting to enforce this Guaranty following any default on its part hereunder, whether the same • ' shall be enforced by suit or otherwise. iA Section 3 .3 . No remedy herein conferred upon or u.' reserved to the Trustee is intended to be exclusive of any . other available remedy or remedies, but each and every suchrY" ' > remedy shall be cumulative and shall be in addition to every other remedy given under this Guaranty or now or hereafter " existing at law or in equity. No delay or omission to exercise any right or power accruing upon any default, omission or failure of performance hereunder shall impair any such right or fi power or shall be construed to be a waiver thereof, but any `° such right and power may be exercised from time to time and as often as may be deemed expedient . In order to entitle the Trustee to exercise any remedy reserved to it in this Guaranty, r. it shall not be necessary to give any notice, other than such notice as may be herein expressly required. In the event any provision contained in this Guaranty should be breached by Guarantor and thereafter such breach is duly waived by the Trustee, such waiver shall be limited to the particular breach ; y so waived and shall not be deemed to waive any other breach hereunder. No waiver, amendment, release or modification o£ s: this Guaranty shall be established by conduct , custom or course of dealing, but solely by an instrument in writing duly executed by the Trustee. t; -5- r . "T.•3,z.,y"i .' 'TrSr}''fir`"°[""„' '�„' , a ,,'t�'��it+�4".. + .,"t t t. 1Y.i eF$ �tr, '': '� •n %� 4}� � T v'k' Vfi1 frr jCI,n'S4r`1rs¢�n>I', _ y, ( ek' `' .,' �•. '��' r ��' .Fr.`k; r + i •,t iwt rS' i tt r C Y f� >✓:'v�r 1 .�' � eptr�. .x� wv a r.-.f.. s h, r � '. .�.�..:1 .., r ar�:v}". ..zyr J, �^�.l•�• 3 (i. A�.#. 'tY }° i• fir. .1t! 3fi , .t ' } ' r' .y:,f i :'r t f '� f rr j"' r ::..;. r d> ' `+•,}{ t .1 _T ' •vtr `` 3'r � E +Czr � kFfG. ff,St M E�^' 4. .. }dWi:�.r��'r. ffl �(j fit'S•. •('t�!Y�t c:SNrtv"' 'h.'K't°mod 3 n likiA�+.S; .d3 �7 rw > 7YL.4£ .,fi.tdY.ikSSrAt:.� 'T�S�b�fira,,nt,�a$s }w }, ";3AV a',,y r ,k.:,<<ad t � ; g• ty�: .6':1Y`i�ifx.,..�F+ST•a:\:t. �. .4,c �{+...*k:t fi. �S1!k(�y�'a��,"X�� .�. 0'. �� #"x• .zip> "l ARTICLE IV GENERAL COVENANTS AND AGREEMENTS Section 4 . 1 . Guarantor agrees that except in the •' : ' event of a transfer of all or substantially all of its assets, or a merger or consolidation expressly permitted by thisfll <.. Section, it will maintain its corporate existence, will not ' ".yt. : h sell, lease, transfer or otherwise dispose of all or substantially all of its assets, and will not consolidate with or merge into another corporation, unless the transferee of w`.. such assets or the resulting or surviving corporation shall be �' •> incorporated and existing under the laws of one of the states of the United States of America, shall be qualified to do . ��.. 'kfi, icl business in the State of Missouri , shall have a net worth not less than that of Guarantor immediately prior to such merger or ��:.�,,�;4:;:5,•:, , consolidation and shall assume in writing all of the obligations of Guarantor herein. �} Section 4 . 2 . • This Guaranty is entered into by Guarantor for the benefit of the Trustee and the owners from3u £.s'Y time to time of the Bonds and any successor trustee under thes ,'> Indenture, all of whom shall be entitled to enforce rmance pe r.f o and observance of this Guaranty, y, as provided in Section 3 . 1 hereof, to the same extent as if the y were parties signatory y' ��:r•�„�,, Section 4 .3 . Guarantor shall be discharged of its t . obligations hereunder upon the payment to the Trustee of the principal of, premium, if an provision for Y, and interest on the Bonds, or payment thereof having been made with the Trustee as provided in the Indenture. 1Y Per � Section 4 . 4 . Guarantor covenants that it is and, except in the event of a transfer of all or substantially all Of its assets or a merger or a consolidation expressly permitted by Section 4 . 1 hereof, will remain qualified to do business and be subject to service of process in the State of Missouri so long as any of the Bonds are outstanding. If for any reason Guarantor :should not remain so qualified, Guarantor hereby designates and appoints, without power of revocation, the Secretary of State of% the State of Missouri to serve as its agent for service of process . Section 4 . 5 . The several obligations of Guarantor hereunder shall arise absolutely and unconditionally when the Bonds shall have been issued, sold and delivered by the Issuer and the proceeds thereof paid to the Trustee. 6 -6- r �'�'�• s' a ! F �rt.. a r r } P t,,rj ” *: .} r' t ,, t ,t s2'$� , �'fn}�,;ttEt�t1h'tf �d '��' '��.� :;'(�,&Yr.{�`1 F $ "saJL rri Z v?} �'rJ `jty t y, :.;V ut °.} r>f .y t .{i �"g'Ld.''i ,�V z�t}a '•:k S�',n a3' ��. 'g"�, y. "!°�A{{d__r,#� Y #YNf i� �?� >~` ka J .t ' t K; i4° j1 ��>• r i"xa'f� �� f t �`y .�:*�4t,{rsy�}3?�� + -;a,! } ��, •.e4?;+,�rA ,� is �t° 'i^ '1u � 'y ..rr :s;x $ e J'�.•? zSS�{ .lr �' r r �. #"i,•c � ,41xj `; rl� Sa};,J�,S•.�r�e"2 if e+? rr }..2} .,¢k ,r, �' `1 7y ` t: Fri .,� t. „� rrti<rr:i„,J� �i�#°�tn6,. '� y.s,t¢ .� �trs "4•a�� » 1 Je .1.; ..t , t i ;II.�2i f y f1 rl a ., �.1 � �. as �',C S .v',S.bi �'. ' �f"2ky1 v^ !' � 7�� .1 } tt J .S t .ttSr } t, .Q }T� {h v`,��r •n 4��. t 's`s, Sja 7 t1 1 Ci t i•c y �3 F i. ti, ri e i :.} y t {t , v ,.' re:< 'x�t': +y?`3t �,: c tr r_r ;�, ':a s !• Fx .5a {t i1y.,y t: .t'.t. .x" , r �X}fF r�"rt7� k�.,?'7 •ky x') }, •�',pu ry y�S4 i}�' tr`.Yd # rs1Y.?FA+'.ayM : r..�S s{F..z �rt, .. pt 1. T; , i.. t'j;•o- is ttit : t• 1"lPt}. t 4y y :�r s}tor y�r4ft'z}{.r${,�}..�'r � �' r• R+' r, e r car a ,f< S�v f y ... r t•�i4',}•, `}yr Yj�'*E irk.t •{� ti jt 4 F r' •. t } ,,,,,,rr .p •'.k J r .... t J �A�h'M1a il+�1} r>r„''�, +.}'T '� J �'X..1 ,it'� .1,�..*e,<a•��,,tt�",•ry. } S ti+-'�,'� t11 ( `.i 7f T' ' f 1 �A.,a Rol' 1 4Y•�•t{t 1 „}a:S r � � �, M ARTICLE V REPORTS fi Section 5 . 1 . Until all of the Bonds and the interest ' thereon have been paid in full , Guarantor will furnish to the Yt a< Trustee, as soon as available and in any event within 150 days x: s:.. after the end of each fiscal year, a copy of Guarantor' s Annual Tp Report, which Annual Report shall contain, among other things, a certified balance sheet of Guarantor and its consolidated subsidiaries as to the end of said fiscal year, and the related 's certified statements of income and surplus . Guarantor shall _" r,> also, upon request, furnish the Trustee a copy of all interim financial reports sent to Guarantor ' s stockowners . t' ARTICLE VI h,* MISCELLANEOUS PROVISIONS Section 6 . 1 . The agreements contained herein on the rai, part of Guarantor shall inure to and be binding upon its ' pi4 successors and assigns, including without limitation any k ' a successor or assign in any transaction expressly permitted by Section 4_1 hereof,. .t� u` Section 6 .2 . This Guaranty constitutes the entire = agreement and supersedes all prior agreements and t' f, understandings, both written and oral, between Guarantor and the Trustee with respect to the subject matter hereof and may r be executed simultaneously in several counterparts, each of ' which shall be deemed an original, and all of which together e1 shall constitute one and the same instrument. w, . Section 6 .3 . The invalidity or unenforceability of ., T; any one or more phrases, sentences, clauses or Sections in this Guaranty shall not affect the validity or enforceability of the z remaining portions of this Guaranty. J !: *` Section 6 .4 . This Guaranty shall be governed by and construed and interpreted in accordance with the laws of the State of Missouri . `5 [The remainder of this page intentionally left blank. ] -7- a Y7 !, ., H i nt 'tC �",•t k7 U asr ti..E 7� • 44F t� t L��;+ At" � r F" •t P .y., j Y.,i ftp.:1="}�tf}� 3 s![' .f�.'4f 1 ,k, t., r ! x�{�et ra'!+ }C`:/¢ '�it•'"``� r yr� P'"'' 4r"5, ,i t"�a ; t}tt�r . L } ":,^•�;tr r>, f y.z,5; } �a ,,� ,b 'fps a rS'3`J•c�' ��S .. A.d�,'�,t':Z' �.'� t sr �,��s etvi Y i i t a ctP .,rt w,i'� f�`*`s.�t i,r,•rGwtt„3.�'.��`!�s'r �.. }`F 7}'` �tf 4i. J S�t� t,c 43yh`"�tir}Pi�,.k�r��'' 1f� L �r�r.�":n ;"•4 Y „�,. �a`�r`�.�5�'�'>�� '"f� �a• '�- . ;•-.! 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