Ordinance 1984-829 - Laserfiche WebLink

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further issued pursuant to and In full compliance with the Ordin- ance finally adopted by the Issuer prior to the Issuance of the Bond. This Bond and the payment of the Principal Balance hereof, the interest hereon and premIum, if any, IS secu red by a Deed of Trust, Assiqnment of Rents, Security Aqreement, and Financing Statement, dated as of the date hereof, among the Borrower, the Public Trustee of Boulder County, Colorado, and the Lend er (the "Deed of Trust"). The Principal Balance of this Bond may be prepaid as follows: ( i) The Principal Balance of this Bond may be prepaid, at any time, In whole or In part, without prepayment premIum. Written notice of the intent to prepay the Principal Balance of this Bond must be qiven to the Lend er at least thirty ( 30 ) days In advance of the prepayment date.. Upon prepayment in full, interest to the prepayment date sh all be paid on the prepayment date. ( i i) The Principal Balance of this Bond IS further subject to prepayment In whole, upon payment of par and accrued interest, without prepayment premIum, if all or substantially all of the proiect IS condemned (or sold In lieu thereof) or damaged or destroyed and Borrower does not elect, as evidenced by a certi- ficate delivered to Lender within 120 days after the occurrence of such event, to r e bu i 1 d or restore the Project, or if as a result of any changes In the Constitution or laws of the State of Colo- r ad 0 or the Constitution of the United States of America or of leqislative or administrative act ion (whether state or fed era 1 ), 0 r of final decree, judqment or order of any court of administrative body (whether state or federal) , the Loan Aqreement becomes void or unenforceable or impossible of performance. The Lend e r has the option of tendering to the Borrower, on behalf of the Issuer, for prepayment, all of this Bond at par and acc ru ed interest on , 1 9 . Written notice of the intent to tender the Bond, muS-tbe aiven to the Borrower at least ninety (90) days in advance of the day of tender. Upon a Determi nation of Taxabil i ty as defined In the Loan Aareement, whereby the interest accruing on this Bond becomes includible In the gross Income of the Lend e r (other than a sub- stantial user of the Project or a related person) for the purpose of federal Income taxation, the principal Balance of this Bond shall bear interest at an annu al rate eaual to two percent above the prIme rate of interest charqed by Denver National Bank , In Denver, Colorado, adjusted sem i annu ally, from and after the Date of Taxabil i ty. However, said rate may not be set at an annual rate qreater than thirty percent (30%) per annum. If the Lender receives notice of a Determination of Taxability, the Borrower has aareed, pursuant to the Loan Aqreement, to pay within thirty ( 30) days of receipt of such notice, directly to the Lende r on beh al f of the Issuer, the aaareaate difference between ( i) the payments actually made between the Date of Taxabil i ty and the date of the - 5 -