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<br /> .~ ~ I <br /> with interest from the date hereof at the rate of eleven per <br /> centum (11.00%) per annum, payable on December 1 1981, and <br /> semiannually thereafter on the 1st day of June and th 1st day of <br /> December each year, until said sum is paid. Both t e principal <br /> hereof and interest hereon are payable in lawful m ney of the <br /> United States of America to the Registered Holder her of by check <br /> or draft mailed or delivered to the Registered Ho der at its <br /> address as it appears on the Bond Register maintained y the First <br /> National Bank in Boulder, as Trustee, or its succes or in trust <br /> (the "Trustee") under an Indenture of Trust dated a of June 1 , <br /> - <br /> 1981, (the "Indenture") between the City and the T ustee. The <br /> final installment of principal and interest due on thi Bond shall <br /> be made only upon presentation and surrender of this <br /> Trustee. <br /> Upon a Determination of Taxability as define in Section <br /> 1. 0 1 hereof, whereby the interest accuring on this ond becomes <br /> includable in the gross income of the Holder than a <br /> substantial user of the Project or a related n) for the <br /> purpose of Federal income taxation, the Holder may its <br /> option of mandatory redemption of this Bond in whol , or in the <br /> alternative, the Outstanding principal amount of thi Bond shall <br /> bear interest at an annual rate of one percent (1.0 %) over the <br /> prime rate of interest charged by the First Natio al Bank in <br /> Boulder, fixed as of the date of such Determination, 0 the 11.00% <br /> interest rate set forth herein, whichever is highe , from and <br /> after the date of the Event of Taxability. The Hold r must make <br /> its el-ection wi thin 60 days of the date of such mination by <br /> written notice to the Trustee. Upon receipt thereof, the Trustee <br /> will either: (a) notify the Borrower of the mandator redemption <br /> pursuant to Section 5.01 hereof, or (ii) notify the Borrower of <br /> the increase in interest rate on the Bond and of Borrower's <br /> obligation, pursuant to Section 5.01 of the Loan Agree ent, to pay <br /> to Trustee on behalf of the City, within sixty ( o ) days of <br /> receipt of such written notice from the Trustee, t e aggregate <br /> difference between: ( i ) the payments actually made between the <br /> date of the Event of Taxabili~y and the date of the ~ termination <br /> A-2 <br />