Common use of Mandatory Sinking Fund Redemption Clause in Contracts

Mandatory Sinking Fund Redemption. The Bonds maturing on [ ], 20[ ] are subject to mandatory sinking fund redemption on [ ] of the years and in the principal amounts set forth below at a redemption price equal to the principal amount thereof (with no premium), plus accrued interest to the redemption date. The Bonds maturing on such date shall be selected for redemption on each mandatory sinking fund redemption date by lot from all remaining Bonds maturing on such date. Mandatory Sinking Fund Redemption Date ([ ]) Principal Amount * * Maturity date At its option, to be exercised on or before the forty-fifth day next preceding each mandatory sinking fund redemption date, the Enterprise may (i) deliver to the Trustee for cancellation any Bond with the same maturity date as the Bonds subject to such mandatory sinking fund redemption and (ii) receive a credit in respect of its mandatory sinking fund redemption obligation for any Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption which, prior to such date, have been redeemed (otherwise than by mandatory sinking fund redemption) and cancelled and not theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each Bond so delivered or previously redeemed shall be credited at the principal amount thereof to the mandatory sinking fund redemption obligation on the mandatory sinking fund redemption dates by lot, and the principal amount of Bonds to be redeemed as part of such mandatory sinking fund redemption on such dates shall be accordingly reduced. $[ ] The undersigned, on behalf of BofA Securities, Inc. (the “Representative”),on behalf of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC (together, the “Underwriting Group”), hereby certifies as set forth below with respect to the sale and issuance of the above-captioned obligations (the “Bonds”). [Select appropriate provisions below]

Mandatory Sinking Fund Redemption. The Bonds maturing on [ ]December 1, 20[ ] are subject to mandatory sinking fund redemption by lot on [ ] December 1 of the years and in the principal amounts set forth below specified below, at a redemption price equal to the principal amount thereof (with no redemption premium), plus accrued interest to the redemption date: Redemption Date Principal Amount 1 Final maturity; not a sinking fund redemption payment. The Bonds maturing on such date shall be selected for redemption on each December 1, 20[ ] are subject to mandatory sinking fund redemption date by lot from all remaining Bonds maturing on such December 1 of the years and in the principal amounts specified below, at a redemption price equal to the principal amount thereof (with no redemption premium), plus accrued interest to the redemption date. Mandatory Sinking Fund : Redemption Date ([ ]) Principal Amount * * Maturity date 1 Final maturity; not a sinking fund redemption payment. At its option, to be exercised on or before the forty-fifth (45th) day next preceding each mandatory sinking fund redemption date, the Enterprise Town may (i) deliver to the Trustee Paying Agent for cancellation any Bond Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption and (ii) receive a credit in respect of its mandatory sinking fund redemption obligation for any Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption which, which prior to such date, date have been redeemed (otherwise than by mandatory through the operation of the sinking fund redemptionfund) and cancelled by the Paying Agent and not theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each Bond so delivered or previously redeemed shall be credited by the Paying Agent at the principal amount thereof to the mandatory obligation of the Town on such sinking fund redemption obligation on the mandatory sinking fund redemption dates by lotdate, and the principal amount of Bonds to be redeemed as part by operation of such mandatory sinking fund redemption on such dates date shall be accordingly reduced. $[ .] The undersigned, on behalf of BofA SecuritiesXxxxxx, Inc. Xxxxxxxx & Company, Incorporated (the “Representative”),on behalf of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC (together, the “Underwriting GroupStifel”), ) hereby certifies as set forth below with respect to the sale and issuance of the above-captioned obligations bonds (the “Bonds”). [Select appropriate provisions below].

Mandatory Sinking Fund Redemption. The Bonds $ Term Bond maturing on [ ]August 1, 20[ ] are 20 , is also subject to mandatory sinking fund redemption on [ ] of the years and in the principal amounts set forth below at a redemption price equal to the principal amount thereof (with no premium), plus accrued interest to the redemption date. The Bonds maturing on such date shall be selected for redemption on each mandatory sinking fund redemption date by lot from all remaining Bonds maturing on such date. and in the respective principal amounts as set forth in the following schedule, at a redemption price equal to 100% of the principal amount thereof to be redeemed, without premium, together with interest accrued thereon to the date fixed for redemption: Mandatory Sinking Fund fund Redemption Date ([ ]August 1) Principal Amount * * Maturity date At its option, to be exercised Redeemed $ † † Maturity. The $ Term Bond maturing on or before August 1, 20 , is also subject to mandatory sinking fund redemption on each mandatory sinking fund redemption date and in the forty-fifth day next preceding respective principal amounts as set forth in the following schedule, at a redemption price equal to 100% of the principal amount thereof to be redeemed, without premium, together with interest accrued thereon to the date fixed for redemption: Mandatory Sinking fund Redemption Date (August 1) Principal Amount to be Redeemed $ † Maturity. The principal amount to be redeemed in each year shown in the tables above will be reduced proportionately, in integral multiples of $5,000, by the amount of such Term Bond optionally redeemed prior to the mandatory sinking fund redemption date, the Enterprise may (i) deliver to the Trustee for cancellation any Bond with the same maturity date as the Bonds subject to such mandatory sinking fund redemption and (ii) receive a credit in respect of its mandatory sinking fund redemption obligation for any Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption which, prior to such date, have been redeemed (otherwise than by mandatory sinking fund redemption) and cancelled and not theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each Bond so delivered or previously redeemed shall be credited at the principal amount thereof to the mandatory sinking fund redemption obligation on the mandatory sinking fund redemption dates by lot, and the principal amount of Bonds to be redeemed as part of such mandatory sinking fund redemption on such dates shall be accordingly reduced. $[ if any.] The undersigned, on behalf of BofA Securities, Inc. (the “Representative”),on behalf of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop RBC Capital Markets, LLC San Francisco, California Ladies and Xxxxxx XxxxxxxxGentlemen: This letter is addressed to you, LLC as Underwriter (together, the “Underwriting GroupUnderwriter”), hereby certifies as set forth below with respect pursuant to the sale and issuance Section 6(a)(6) of the above-captioned obligations Bond Purchase Agreement, dated [Sale Date] (the “Purchase Contract”), between you and the Albany Unified School District (the “District”), providing for the purchase of $[Measure B Par] principal amount of Albany Unified School District General Obligation Bonds, Election of 2016 (Measure B), Series 2021C (the “Bonds”). [Select The Bonds are being issued pursuant to a paying agent agreement, dated as of April 1, 2021 (the “Paying Agent Agreement”), by and between the District and U.S. Bank National Association, as paying agent (the “Paying Agent”), and a resolution adopted by the District on February 23, 2021 (the “District Resolution”). Capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Paying Agent Agreement or, if not defined in the Paying Agent Agreement, in the Purchase Contract. We have delivered our final legal opinion (the “Bond Opinion”) as bond counsel to the District concerning the validity of the Bonds and certain other matters, dated the date hereof and addressed to the District. You may rely on such opinion as though the same were addressed to you. In connection with our role as bond and disclosure counsel to the District, we have reviewed the Purchase Contract, the District Resolution, the Paying Agent Agreement, the Tax Certificate, dated the date hereof (the “Tax Certificate”), certificates of the District and others, and such other documents and matters to the extent we deemed necessary to provide the opinions or conclusions set forth herein. The opinions and conclusions expressed herein are based on an analysis of existing laws, regulations, rulings and court decisions and cover certain matters not directly addressed by such authorities. Such opinions or conclusions may be affected by actions taken or omitted or events occurring after the original delivery of the Bonds on the date hereof. We have not undertaken to determine, or to inform any person, whether any such actions are taken or omitted or events do occur or any other matters come to our attention after the original delivery of the Bonds on the date hereof. We have assumed the genuineness of all documents and signatures provided to us and the due and legal execution and delivery thereof by, and validity against, any parties other than the District. We have assumed, without undertaking to verify, the accuracy of the factual matters represented, warranted or certified in the documents, and of the legal conclusions contained in the opinions, referred to in the third paragraph hereof. We have further assumed compliance with all covenants and agreements contained in such documents. In addition, we call attention to the fact that the rights and obligations under the Bonds, the District Resolution, the Paying Agent Agreement, the Tax Certificate and the Purchase Contract and their enforceability may be subject to bankruptcy, insolvency, reorganization, receivership, arrangement, fraudulent conveyance, moratorium and other laws relating to or affecting creditors’ rights, to the application of equitable principles, to the exercise of judicial discretion in appropriate cases and to the limitations on legal remedies against school districts and counties in the State of California. We express no opinion with respect to any indemnification, contribution, liquidated damages, penalty (including any remedy deemed to constitute or having the effect of a penalty), right of set-off, arbitration, judicial reference, choice of law, choice of forum, choice of venue, non-exclusivity of remedies, waiver or severability provisions below]contained in the foregoing documents, nor do we express any opinions with respect to the state or quality of title to or interest in any assets described in or as subject to the lien of the District Resolution, or the accuracy or sufficiency of the description contained therein of, or the remedies available to enforce liens on, any such assets. Based on and subject to the foregoing, and in reliance thereon, as of the date hereof, we are of the following opinions or conclusions:

Mandatory Sinking Fund Redemption. The Bonds maturing on [ ], 20[ ] are subject to As and for a mandatory sinking fund for the redemption on [ ] of the years and Bonds, the Issuer shall deposit in the Bond Fund on or before the last Business Day preceding November 1, 2009, and on or before the last Business Day preceding each November 1 thereafter, a sum which together with other moneys available therefor in the Bond Fund is sufficient to redeem (after credit as provided below) the following principal amounts set forth below of Bonds at a redemption price equal to 100% of the principal amount thereof (with no premium)to be redeemed, plus accrued interest interest, if any to the redemption date: __________________ *Final maturity. The Bonds maturing on In case a Bond is of a denomination larger than the minimum Authorized Denomination of $100,000, a portion of such date Bond may be redeemed, but only in the principal amount of $5,000 or any integral multiple of $5,000 in excess of $100,000 and each $5,000 unit in excess of such minimum Authorized Denomination thereof shall be selected counted as one Bond for redemption on the purpose of selecting by lot. Following any such partial redemption, the remaining principal amount of such Bond shall be in an Authorized Denomination. On or before the thirtieth day prior to each such mandatory sinking fund redemption date date, the Trustee shall proceed to select for mandatory sinking fund redemption (in a manner designated by lot the Company) from all remaining outstanding Bonds maturing a principal amount of Bonds equal to the aggregate principal amount of Bonds redeemable with the required sinking fund payment, and shall call such Bonds or portions thereof for mandatory sinking fund redemption on the next November 1 and give notice of such datecall. Mandatory Sinking Fund Redemption Date ([ ]) Principal Amount * * Maturity date At its option, to be exercised on or before the forty-fifth day next preceding each any such mandatory sinking fund redemption date, the Enterprise Company may (i) deliver to the Trustee for cancellation cancellation, Bonds or portions thereof (in the minimum Authorized Denomination or any Bond with the same maturity date as the Bonds subject to such mandatory sinking fund redemption and integral multiple of $5,000 in excess thereof) in any aggregate principal amount desired or (ii) receive a credit in respect of its mandatory sinking fund redemption obligation for any Bonds with or portions thereof (in the same maturity date as the Bonds subject to such mandatory sinking fund redemption which, minimum Authorized Denomination or any integral multiple of $5,000 in excess thereof) which prior to such date, said date have been redeemed (otherwise than by mandatory sinking fund redemption) and cancelled canceled by the Trustee and not theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each such Bond or portion thereof so delivered or previously redeemed shall be credited by the Trustee at 100% of the principal amount thereof to on the payment obligation of the Issuer on such sinking fund redemption date and any excess over such amount shall be credited on future mandatory sinking fund redemption obligation on the mandatory sinking fund redemption dates by lotobligations in chronological order, and the principal amount of Bonds to be redeemed as part by operation of such mandatory sinking fund redemption on such dates shall be accordingly reduced. $[ ] The undersigned, Company will on behalf or before the forty-fifth day next preceding each such mandatory sinking fund redemption date furnish the Trustee and the Issuer with its certificate indicating whether or not and to what extent the provisions of BofA Securities, Inc. (the “Representative”),on behalf i) and (ii) of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC (together, the “Underwriting Group”), hereby certifies as set forth below this Section 308 are to be availed of with respect to the sale and issuance of the above-captioned obligations (the “Bonds”). [Select appropriate provisions below]such sinking fund payment.

Mandatory Sinking Fund Redemption. The Series 2024A Bonds maturing on [ February 1, 20[34], 20[ 20[36], 20[38], 20[40], 20[42], and 20[45] are subject to mandatory sinking fund redemption (the “Term Bonds”) shall be redeemed by lot on [ ] of February 1 in the following years and in the principal amounts set forth below amounts, at a redemption price equal to the their principal amount thereof (with no amount, without any premium), plus accrued interest thereon to such redemption date (after any credits are made as provided below): [2032 $ 2034* $ ] 2033 [2035 $ 2036* $ ] * Final Maturity‌ [2037 $ 2038* $ ] [2039 $ 2040* $ ] [2041 $ 2042* $ ] [2043 $ 2045* $ ] 2044 * Final Maturity‌ As and for a sinking fund for the redemption date. The of the Bonds maturing on such date there shall be selected deposited into the Bond Fund, a sum sufficient to redeem (after credit as provided below) the applicable principal amount of the Bonds on the applicable dates at the redemption price stated above; provided that the Trustee shall not be required to call Bonds for redemption on each mandatory sinking fund redemption date by lot from all remaining Bonds maturing on such dateduring the occurrence and continuance of an Event of Default. Mandatory Sinking Fund Redemption Date At the option of the Borrower not less than thirty ([ ]30) Principal Amount * * Maturity date At its option, to be exercised on or before the forty-fifth day days next preceding each mandatory proceeding any sinking fund redemption date, the Enterprise Borrower may (i) deliver to the Trustee for cancellation any Bond with Bonds in an aggregate principal amount desired by the same maturity date as the Bonds subject to such mandatory sinking fund redemption and Borrower; or (ii) receive specify a credit in respect principal amount of its mandatory sinking fund redemption obligation for any Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption which, prior to such said date, have been redeemed (otherwise than by through mandatory sinking fund redemption) and cancelled canceled by the Trustee and not theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each such Bond so delivered or previously redeemed shall be credited by the Trustee at one hundred percent (100%) of the principal amount thereof to against the mandatory sinking fund redemption obligation of the Issuer on the mandatory sinking fund redemption dates by lot, and the principal amount of Bonds to be redeemed as part of such mandatory sinking fund redemption date, and any excess shall be so credited against future sinking fund redemption obligations on such dates Bonds in chronological order. In the event the Borrower shall avail itself of the provisions of clause (i) of the first sentence of this paragraph, the certificate required by the first sentence of this paragraph shall be accordingly reduced. $[ ] The undersigned, on behalf of BofA Securities, Inc. (accompanied by the “Representative”),on behalf of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC (together, the “Underwriting Group”), hereby certifies as set forth below with respect Bonds to the sale and issuance of the above-captioned obligations (the “Bonds”). [Select appropriate provisions below]be canceled.

Mandatory Sinking Fund Redemption. (a) The Series 2021 Bonds maturing on [ ], 20[ ] stated to mature in the years 20 and 20 (the “Term Bonds”) are subject to scheduled mandatory sinking fund redemption on [ ] of and will be redeemed by the years and City, in the principal amounts set forth below part at a redemption price equal to the principal amount thereof (with no thereof, without redemption premium), plus accrued interest to the redemption date. The , on the dates and in the respective principal amounts set forth in the following schedule: Series 2021 Bonds maturing Maturing on such date shall be selected for redemption on each mandatory sinking fund redemption date by lot from all remaining Bonds maturing on such date. November 15, 20 Mandatory Sinking Fund Redemption Date ([ ]) Principal Amount ($) * Stated Maturity Mandatory Redemption Date Principal Amount ($) * Maturity date Stated Maturity (b) At its option, to be exercised on or before the least forty-fifth day next preceding five (45) days prior to each scheduled mandatory sinking fund redemption date, the Enterprise may (i) deliver Trustee shall select for redemption, in the manner set forth in Section 3.4, a principal amount of Term Bonds equal to the Trustee aggregate principal amount of such Term Bonds to be redeemed, and shall call such Term Bonds for cancellation any Bond with the same maturity date as the Bonds subject to redemption on such scheduled mandatory sinking fund redemption and (ii) receive a credit in respect of its mandatory sinking fund redemption obligation for any Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption which, prior to such date, have been and shall give notice of such redemption, as provided in Section 3.5. (c) The principal amount of the Term Bonds required to be redeemed (otherwise than by mandatory sinking fund redemptionon any redemption date pursuant to Section 3.3(a) and cancelled and not theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each Bond so delivered or previously redeemed shall be credited reduced, at the option of the City, by the principal amount thereof of any Term Bonds which, at least forty-five (45) days prior to the mandatory sinking fund redemption obligation on date (i) shall have been acquired by the mandatory sinking fund redemption dates by lot, and City at a price not exceeding the principal amount of such Term Bonds plus accrued interest to be the date of purchase thereof, and delivered to the Trustee for cancellation, or (ii) shall have been redeemed as part of such pursuant to the optional redemption provisions hereof and not previously credited to a mandatory sinking fund redemption on such dates shall be accordingly reduced. $[ ] The undersigned, on behalf of BofA Securities, Inc. (the “Representative”),on behalf of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC (together, the “Underwriting Group”), hereby certifies as set forth below with respect to the sale and issuance of the above-captioned obligations (the “Bonds”). [Select appropriate provisions below]redemption.

Mandatory Sinking Fund Redemption. The $ Term Current Interest Bonds maturing on [ ]August 1, 20[ 20 , are also subject to mandatory sinking fund redemption on August 1 in each of the years and in the respective principal amounts as set forth in the following schedule, at a redemption price equal to 100% of the principal amount thereof to be redeemed (without premium), together with interest accrued thereon to the date fixed for redemption: Mandatory Sinking Fund Redemption Date (August 1) Principal Amount to be Redeemed † † Maturity. The principal amount to be redeemed in each year shown above will be reduced proportionately, in integral multiples of $5,000, by any portion of the Term Current Interest Bond optionally redeemed prior to the mandatory sinking fund redemption date. [The Capital Appreciation Bonds shall not be subject to mandatory sinking fund redemption prior to their stated maturity dates.] [The $ Convertible Capital Appreciation Bonds maturing on August 1, 20 , are subject to mandatory sinking fund redemption on [ ] August 1 in each of the years and in the principal respective stated accreted value amounts at the Conversion Date thereof as set forth below in the following schedule, at a redemption price equal to 100% of the principal stated accreted value amount thereof to be redeemed (with no without premium), plus together with interest accrued thereon from the last interest payment date for which interest has been paid to the redemption date. The Bonds maturing on such date shall be selected fixed for redemption on each mandatory sinking fund redemption date by lot from all remaining Bonds maturing on such date. redemption:] Mandatory Sinking Fund Redemption Date ([ ]August 1) Principal Amount * * Maturity date At its option, Stated Accreted Value Amounts to be exercised on or before the forty-fifth day next preceding each mandatory sinking fund redemption date, the Enterprise may (i) deliver to the Trustee for cancellation any Bond with the same maturity date as the Bonds subject to such mandatory sinking fund redemption and (ii) receive a credit in respect of its mandatory sinking fund redemption obligation for any Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption which, prior to such date, have been redeemed (otherwise than by mandatory sinking fund redemption) and cancelled and not theretofore applied as a credit against any mandatory sinking fund redemption obligationRedeemed † † Maturity. Each Bond so delivered or previously redeemed shall be credited The stated accreted value amounts at the principal amount Conversion Date thereof to be redeemed in each year shown above will be reduced proportionately, in integral multiples of $5,000, by any portion of such Convertible Capital Appreciation Bonds optionally redeemed prior to the mandatory sinking fund redemption obligation date. $ Anaheim City School District (County of Orange, California) General Obligation Bonds, Election of 2010, Series 2011A $ Anaheim City School District (County of Orange, California) General Obligation Bonds, Election of 2010, Series 2011B ( Bonds) Ladies and Gentlemen: The Office of County Counsel provides general legal advice to the County of Orange, California (the “County”). The Office of County Counsel does not represent the Anaheim City School District (“District”). Legal matters which require special expertise such as securities, bankruptcy or tax laws are referred to firms which specialize in those areas. You have asked the Office of County Counsel to render this opinion in connection with the issuance of the County in the name of and on behalf of the mandatory sinking fund redemption dates by lot, and the District of $ aggregate principal amount of Bonds to be redeemed as part the District’s General Obligations Bonds, Election of such mandatory sinking fund redemption on such dates shall be accordingly reduced. $[ ] The undersigned2010, on behalf of BofA Securities, Inc. Series 2011A (the “Representative”),on behalf of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC (together, the “Underwriting GroupSeries 2011A Bonds”), hereby certifies as set forth below with respect to the sale and issuance $ aggregate principal amount of the above-captioned obligations District’s General Obligation Bonds, Election 2010, Series 2011B (the “Series 2011B Bonds,” together with the Series 2011A Bonds, the “Bonds”). [Select In rendering this opinion, we have examined County Board of Supervisors’ Resolution Number 11- , dated , 2011 (the “County Resolution”), a Bond Purchase Agreement, dated , 2011, by and among Xxxxx Xxxxxxx & Co., as representative of itself and X.X. De La Xxxx & Co., as underwriters, County, and the District (the “Purchase Agreement”) and originals or copies of such agreements, records, documents, certificates or other instruments of the County and of California law as we have deemed appropriate provisions below]for the purposes of this opinion. Based upon the foregoing, we are of the opinion that:

Mandatory Sinking Fund Redemption. The Series 1998B Bonds maturing on [ ], 20[ ] are will be subject to mandatory sinking fund redemption and payment prior to their stated maturity on [ ] September 1 of the years and in the principal amounts set forth below each year, at a redemption price equal to 100% of the principal amount thereof (with no premium)thereof, plus accrued interest to the redemption date, without premium, in accordance with the Indenture. The Selection of Series 1998B Bonds maturing on such date to be Redeemed. Series 1998B Bonds shall be selected for redemption on each mandatory sinking fund redemption date by lot from all remaining Bonds maturing on such date. Mandatory Sinking Fund Redemption Date ([ ]) Principal Amount * * Maturity date At its option, to be exercised on or before the forty-fifth day next preceding each mandatory sinking fund redemption date, the Enterprise may (i) deliver to the Trustee for cancellation any Bond with the same maturity date as the Bonds subject to such mandatory sinking fund redemption and (ii) receive a credit redeemed in respect of its mandatory sinking fund redemption obligation for any Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption which, prior to such date, have been redeemed (otherwise than by mandatory sinking fund redemption) and cancelled and not theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each Bond so delivered or previously redeemed shall be credited at the principal amount thereof to the mandatory sinking fund redemption obligation on the mandatory sinking fund redemption dates by lot, and the principal amount of $5,000 or any integral multiple of $5,000 in excess thereof; provided no partial redemption shall result in any Series 1998B Bond remaining Outstanding in a principal amount less than $100,000. Series 1998B Bonds shall be redeemed(by such method as the Trustee shall deem equitable, provided that for this purpose Series 1998B Bonds of a denomination larger than the minimum authorized denomination or integral multiples thereof shall be treated on the same basis as if they were the appropriate number of Series 1998B Bonds of such minimum authorized denomination. The portions of the principal of outstanding Series 1998B Bonds so selected for partial redemption shall be equal to such minimum authorized denomination or integral multiples thereof. Any Series 1998B Bond which is to be redeemed as only in part shall be submitted to the Paying Agent and delivered to the Trustee who shall authenticate and deliver to the Owner of such mandatory sinking fund redemption on Series 1998B Bond, without service charge, a new Series 1998B Bond or Series 1998B Bonds, of any authorized denomination as requested by such dates shall be accordingly reducedOwner in an aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Series 1998B Bonds so surrendered. $[ ] The undersigned, on behalf If the Owner of BofA Securities, Inc. (any such Series 1998B Bond of a denomination greater than the “Representative”),on behalf of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC (together, the “Underwriting Group”), hereby certifies as set forth below with respect minimum authorized denomination for such Series 1998B Bond fails to present such Series 1998B Bond to the sale Paying Agent for payment and issuance exchange as aforesaid, such Series 1998B Bond shall, nevertheless, become due and payable on the redemption date to the extent of the above-captioned obligations principal amount of such Series 1998B Bond called for redemption (the “Bonds”and to that extent only). [Select appropriate provisions below].

Mandatory Sinking Fund Redemption. The Series 2022 Bonds maturing on [ ]June 1, 20[ ] , are subject to mandatory sinking fund redemption in part on [ ] of each June 1 in the years and in the principal amounts set forth below below, at a redemption price equal to 100% of the principal amount thereof (with no premium)of such Series 2022 Bonds to be redeemed, plus accrued interest to the redemption datedate fixed for redemption: $ *Final maturity. The If less than all the Series 2022 Bonds maturing on are called for redemption, they shall be redeemed from maturities (or portions thereof) in such date order as determined by the County. If less than all of the Series 2022 Bonds of any maturity are called for redemption, the Series 2022 Bonds to be redeemed shall be selected for redemption on each mandatory sinking fund redemption date by DTC or any successor securities depository pursuant to its rules and procedures or, if the book-entry system is discontinued, shall be selected by the Trustee by lot from all remaining Bonds maturing on in such datemanner as the Trustee in its discretion may determine. Mandatory Sinking Fund Redemption Date ([ ]) Principal Amount * * Maturity date At its option, The portion of any Series 2022 Bond to be exercised on or before the forty-fifth day next preceding each mandatory sinking fund redemption date, the Enterprise may (i) deliver to the Trustee for cancellation any Bond with the same maturity date as the Bonds subject to such mandatory sinking fund redemption and (ii) receive a credit in respect of its mandatory sinking fund redemption obligation for any Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption which, prior to such date, have been redeemed (otherwise than by mandatory sinking fund redemption) and cancelled and not theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each Bond so delivered or previously redeemed shall be credited at the principal amount thereof to the mandatory sinking fund redemption obligation on the mandatory sinking fund redemption dates by lot, and in the principal amount of $5,000 or some integral multiple thereof. In selecting Series 2022 Bonds for redemption, each Series 2022 Bond shall be considered as representing that number of Series 2022 Bonds that is obtained by dividing the principal amount of such Series 2022 Bond by $5,000. If any of the Series 2022 Bonds or portions thereof are called for redemption, the Trustee shall send notice of the call for redemption, identifying the Series 2022 Bonds or portions thereof to be redeemed as part redeemed, not less than 30 nor more than 60 days prior to the date fixed for redemption, to the registered owner of the Series 2022 Bonds by facsimile transmission or other electronic means, registered or certified mail, overnight express delivery or such mandatory sinking fund other means acceptable to the registered owner. In the case of an optional redemption, such notice may state that (a) it is conditioned upon the deposit of moneys, in an amount equal to the amount necessary to effect the redemption, with the Trustee no later than the date fixed for redemption or (b) the Authority retains the right to rescind such notice on or prior to the date fixed for redemption, and such notice and optional redemption shall be of no effect if such moneys are not so deposited or if the notice is rescinded. Provided funds for their redemption are on deposit at the place of payment on the date fixed for redemption, all Series 2022 Bonds or portions thereof so called for redemption shall cease to bear interest on such dates date, shall no longer be secured by the Agreement of Trust and shall not be deemed to be Outstanding under the provisions of the Agreement of Trust. If a portion of this bond shall be accordingly reducedcalled for redemption, a new bond in principal amount equal to the unredeemed portion hereof will be issued to DTC or its nominee upon surrender hereof or, if the book-entry system is discontinued, to the registered owners of the Series 2022 Bonds. $[ ] The undersigned, on behalf registered owner of BofA Securities, Inc. (this bond shall have no right to enforce the “Representative”),on behalf provisions of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC (together, the “Underwriting Group”), hereby certifies as set forth below Agreement of Trust or to institute any action to enforce the covenants therein or to take any action with respect to any Event of Default under the sale Agreement of Trust or to institute, appear in or defend any suit or other proceedings with respect thereto, except as provided in the Agreement of Trust. Modifications or alterations of the Agreement of Trust or the Financing Agreement, or of any supplement thereto, may be made only to the extent and in the circumstances permitted by the Agreement of Trust. The Series 2022 Bonds are issuable as registered bonds in the denomination of $5,000 and integral multiples thereof. Upon surrender for transfer or exchange of this bond at the designated corporate trust office of the Trustee in Richmond, Virginia, together with an assignment duly executed by the registered owner or its duly authorized attorney or legal representative in such form as shall be satisfactory to the Trustee, the Authority shall execute, and the Trustee shall authenticate and deliver in exchange, a new bond or bonds in the manner and subject to the limitations and conditions provided in the Agreement of Trust, having an equal aggregate principal amount, in authorized denominations, of the same series, form and maturity, bearing interest at the same rate and registered in the name or names as requested by the then registered owner hereof or its duly authorized attorney or legal representative. Any such exchange shall be at the expense of the Authority, except that the Trustee may charge the person requesting such exchange the amount of any tax or other governmental charge required to be paid with respect thereto. The Trustee shall treat the registered owner as the person exclusively entitled to payment of principal and interest and the exercise of all other rights and powers of the owner, except that interest payments shall be made to the person shown as holder on the 15th day of the month preceding the month in which each interest payment date occurs. All acts, conditions and things required to happen, exist or be performed precedent to and in connection with the issuance of this bond have happened, exist and have been performed. This bond shall not become obligatory for any purpose or be entitled to any security or benefit under the above-captioned obligations (Agreement of Trust or be valid until the “Bonds”). [Select appropriate provisions below]Trustee shall have executed the Certificate of Authentication appearing hereon and inserted the date of authentication hereon.

Mandatory Sinking Fund Redemption. The Bonds maturing on [ ]July 1, 20[ ] are subject to mandatory sinking fund redemption 20 shall be redeemed in part on [ ] of the years and July 1 in the principal amounts set forth below each year listed below, commencing July 1, 20 , at a redemption price equal to 100% of the principal amount thereof (with no premium)redeemed, plus accrued interest thereon to the redemption date. , in the principal amount set forth below next to such year: Year Principal Amount $ * *Final Maturity The Bonds maturing on July 1, 20 will be redeemed in part on July 1 in each year listed below, commencing July 1, 20 , at a redemption price equal to 100% of the principal amount plus accrued interest thereon to the redemption date, in the principal amount set forth below next to such date shall be selected for redemption on each mandatory sinking fund redemption date by lot from all remaining year: Year Principal Amount $ * The Bonds maturing on such date. Mandatory Sinking Fund Redemption Date ([ ]) Principal Amount * * Maturity date At its optionJuly 1, 20 will be redeemed in part on July 1 in each year listed below, commencing July 1, 20 , at a redemption price equal to be exercised on or before 100% of the forty-fifth day next preceding each mandatory sinking fund principal amount plus accrued interest thereon to the redemption date, the Enterprise may (i) deliver to the Trustee for cancellation any Bond with the same maturity date as the Bonds subject to such mandatory sinking fund redemption and (ii) receive a credit in respect of its mandatory sinking fund redemption obligation for any Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption which, prior to such date, have been redeemed (otherwise than by mandatory sinking fund redemption) and cancelled and not theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each Bond so delivered or previously redeemed shall be credited at the principal amount thereof set forth below next to such year: Year Principal Amount $ * *Final Maturity The requirements of paragraph (c) above are subject, however, to the mandatory sinking fund provisions that any partial redemption obligation on of Bonds of the applicable maturity under paragraphs (a) or (b) above shall reduce the mandatory sinking fund scheduled redemption dates by lotrequirements of paragraph (c) above for Bonds of such maturity as provided in this paragraph. In the event of a partial redemption of the Bonds under paragraphs (a) or (b) above, and the Bond Trustee shall allocate the principal amount of Bonds to be redeemed as part directed by the Obligated Group. A notice of redemption of any said Bonds shall be mailed to the registered owner thereof not more than 60 nor less than 30 days before each redemption date in the manner and under the terms and conditions provided in the Bond Indenture. On the date designated for redemption, notice having been given and moneys for payment of the redemption price being held by the Bond Trustee, all as provided in the Bond Indenture, the Bonds so duly called for redemption shall become and be due and payable at the redemption price provided for such mandatory sinking fund redemption Bonds or portions thereof on the dates designated for redemption, interest on such dates Bonds or portions thereof so called for redemption shall be accordingly reduced. $[ ] The undersignedcease to accrue, on behalf and the registered owners of BofA Securitiessaid Bonds or such portions thereof so called for redemption shall cease to have any lien, Inc. (rights, benefits or security under the “Representative”),on behalf of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC (together, the “Underwriting Group”), hereby certifies as set forth below Bond Indenture with respect to the Bonds or portion thereof so called for redemption, except to receive the payment of the redemption price on the designated date of redemption from moneys deposited with or held by the Bond Trustee for such redemption of the Bonds. If a portion of this Bond shall be called for redemption, a new registered Bond in the principal amount equal to the unredeemed portion hereof will be issued to the Registered Owner upon surrender hereof. In lieu of the optional redemption and cancellation of the Bonds, Bonds may be called for purchase by the Obligated Group in lieu of optional redemption on the same dates and at the same purchase price as Bonds may be called for and redeemed pursuant to the optional redemption terms set forth in paragraph (a) above. Bonds so purchased by the Obligated Group in lieu of redemption may be either (i) delivered to the Bond Trustee and cancelled or (ii) held by the Obligated Group and, upon receipt of any opinion of Bond Counsel (as defined in the Bond Indenture) to the effect that such sale will not adversely affect the exclusion from gross income for federal income tax purposes of interest on such Bonds, subsequently sold by the Obligated Group. Notice of purchase and selection of Bonds for purchase pursuant to this paragraph shall be given or made and shall have the same effect as provided in the Bond Indenture for notice and selection of Bonds for optional redemption; provided, that the notice shall be modified as necessary to reflect the purchase of Bonds in lieu of optional redemption. No covenant, stipulation, obligation or agreement contained herein or in the Bond Indenture shall be deemed to be a covenant, stipulation, obligation or agreement of any present or future member, agent or employee of the Issuer in his individual capacity, and neither the members of the Issuer nor any official executing this Bond shall be liable personally on this Bond or shall be subject to any personal liability or accountability by reason of the issuance hereof. The Bond Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer and Members of the Obligated Group and the rights of the owners of the Bonds at any time by the Issuer or the Obligated Group with consent of the owners of a majority of the Bonds Outstanding, as defined in the Bond Indenture. Any such consent or waiver by the owner of this Bond shall be conclusive and binding upon such owner and upon all future owners of this Bond and of any Bond issued upon the transfer or exchange of this Bond whether or not notation of such consent or waiver is made upon this Bond. The Bond Indenture also contains provisions permitting the Bond Trustee to waive certain past defaults under the Bond Indenture and their consequences. This Bond is and has all the qualities and incidents of a negotiable instrument under the Uniform Commercial Code-Investment Securities Law of the State of Florida. Unless otherwise provided by law, the Issuer may treat the Registered Owner of this Bond as the absolute owner hereof for all purposes without being affected by any notice to the contrary. This Bond may be registered as transferred upon the books kept for the registration and transfer of the Bonds only upon surrender of this Bond to the Bond Trustee, as bond registrar, together with an assignment duly executed by the Bondholder or his attorney or legal representative in such form and with such guaranty of signature as shall be satisfactory to the Bond Trustee; provided, that the Bond Trustee shall not be obliged to make any exchange or registration of transfer during the period between a Record Date and the corresponding Interest Payment Date. Upon the registration of transfer of this Bond and on request of the Bond Trustee, the Issuer shall execute, and the Bond Trustee shall authenticate and deliver, a new Bond or Bonds, registered in the name of the transferee or transferees, of the same maturity, aggregating in amount the then unpaid principal amount of the Bond surrendered, of Authorized Denominations. If any payment on this Bond falls due on a day that is not a Business Day (as defined in the Bond Indenture), then such payment shall be made on the next succeeding Business Day with the same force and effect as if done on the nominal date provided in the Bond Indenture, except as otherwise specifically provided in the Bond Indenture. It is hereby certified, recited and declared that all acts, conditions and things required to exist, to happen and to be performed precedent to and in the issuance of this Bond exist, have happened and have been performed in regular and due form and time as required by the above-captioned obligations (Constitution and laws of the “Bonds”)State of Florida applicable thereto and that the issuance of this Bond is in full compliance with the Act and all constitutional and statutory limitations, provisions and restrictions. [Select appropriate provisions below]This Bond shall not be valid or become obligatory for any purpose or be entitled to any security or benefit under the Bond Indenture until the certificate of authentication endorsed hereon shall have been signed by the Bond Trustee.

Mandatory Sinking Fund Redemption. The aggregate of the amounts to be deposited in the Principal Payment Account of the CFC Debt Service Fund pursuant to Section 5.03 hereof shall include amounts sufficient to redeem any Bonds maturing on [ ], 20[ ] are subject to mandatory sinking fund redemption pursuant to Mandatory Sinking Fund Requirements. The Trustee, on [ ] behalf of the years and Authority, shall cause such Bonds to be redeemed in the principal amounts set forth below at a redemption price equal to the principal amount thereof (with no premium), plus accrued interest to the redemption date. The Bonds maturing on such date shall be selected for redemption manner provided in this Article on each mandatory sinking fund redemption date by lot from all remaining Bonds maturing on such datein the aggregate principal amount set forth in the CFC Trust Agreement. Mandatory Sinking Fund Redemption Date ([ ]) Principal Amount * * Maturity date At its option, The Authority shall have the option to be exercised on or before the forty-fifth day next preceding each mandatory sinking fund redemption date, the Enterprise may (i) deliver to the Trustee for cancellation any Bond with the same maturity date as the Bonds subject to such mandatory sinking fund redemption Mandatory Sinking Fund Requirements in any aggregate principal amount and (ii) to receive a credit in respect against any Mandatory Sinking Fund Requirement (and corresponding mandatory redemption obligation) of its the Authority for Bonds of the same series and maturity. That option shall be exercised by the Authority, on or before the 45th day preceding the applicable mandatory sinking fund redemption obligation date, by furnishing the Trustee a certificate, signed by an Authorized Officer setting forth the extent of the credit to be applied and the Mandatory Sinking Fund Requirement to be credited. The Bonds upon which that certificate is based shall be delivered to the Trustee for cancellation on the applicable mandatory redemption date. If the certificate is not timely furnished to the Trustee or the Bonds are not so delivered, the Mandatory Sinking Fund Requirement (and corresponding mandatory redemption obligation) shall not be reduced. A credit against the then current Mandatory Sinking Fund Requirement (and corresponding mandatory redemption obligation) of a series of Bonds shall be received by the Authority for any Bonds with of the same maturity date as the Bonds subject to such mandatory sinking fund redemption whichseries and maturity, which prior to such date, thereto have been redeemed (otherwise other than through the operation of the Mandatory Sinking Fund Requirements) or purchased for cancellation and canceled by mandatory sinking fund redemption) and cancelled and the Trustee, to the extent not applied theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each Bond so delivered delivered, or previously redeemed redeemed, or purchased and canceled, shall be credited by the Trustee at 100% of the principal amount thereof to against the designated or then current Mandatory Sinking Fund Requirement (and corresponding mandatory sinking fund redemption obligation on obligation) for the mandatory sinking fund redemption dates by lot, and the principal amount series of Bonds to be redeemed as part so delivered. Any excess of such mandatory sinking fund redemption on such dates that amount over the designated or then current Mandatory Sinking Fund Requirement shall be accordingly reduced. $[ ] The undersigned, on behalf of BofA Securities, Inc. (credited against subsequent mandatory redemption obligations in the “Representative”),on behalf of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC (together, order directed by the “Underwriting Group”), hereby certifies as set forth below with respect to the sale and issuance of the above-captioned obligations (the “Bonds”). [Select appropriate provisions below]Authority.

Mandatory Sinking Fund Redemption. (i) The Bonds maturing on [ ]15 in each of the years 00 , 20[ ] 00 , 00 , 00 and 20 , are subject to mandatory sinking fund redemption on [ ] by application of the years and in Sinking Fund Installments as provided herein, commencing on the principal amounts respective dates set forth below below, at a redemption price Redemption Price equal to 100% of the principal amount Principal Amount of each such Bond or portion thereof (with no premium)to be redeemed, plus accrued interest to the date of redemption date. The thereof, without premium, on the respective dates and in the amounts set forth in the following tables: Bonds maturing Maturing on such date shall be selected for redemption on each mandatory sinking fund redemption date by lot from all remaining Bonds maturing on such date. Mandatory 15, 20 Principal Amount Sinking Fund Redemption Date ([ ]) To Be Redeemed Bonds Maturing on 15, 20 Principal Amount * * Maturity date At its optionSinking Fund Redemption Date To Be Redeemed Bonds Maturing on 15, to be exercised 20 Principal Amount Sinking Fund Redemption Date To Be Redeemed Bonds Maturing on or before the forty-fifth day next preceding each mandatory sinking fund redemption date15, the Enterprise may (i) deliver to the Trustee for cancellation any Bond with the same maturity date as the 20 bearing an interest rate of % Principal Amount Sinking Fund Redemption Date To Be Redeemed Bonds subject to such mandatory sinking fund redemption and (ii) receive a credit in respect Maturing on 15, 20 bearing an interest rate of its mandatory sinking fund redemption obligation for any % Principal Amount Sinking Fund Redemption Date To Be Redeemed Bonds with the same maturity date as the Maturing on 15, 20 bearing an interest rate of % Principal Amount Sinking Fund Redemption Date To Be Redeemed Bonds subject to such mandatory sinking fund redemption whichMaturing on 15, prior to such date, have been redeemed (otherwise than by mandatory sinking fund redemption) and cancelled and not theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each Bond so delivered or previously redeemed shall be credited at the principal amount thereof to the mandatory sinking fund redemption obligation on the mandatory sinking fund redemption dates by lot, and the principal amount 20 bearing an interest rate of Bonds to be redeemed as part of such mandatory sinking fund redemption on such dates shall be accordingly reduced. $[ ] The undersigned, on behalf of BofA Securities, Inc. (the “Representative”),on behalf of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC (together, the “Underwriting Group”), hereby certifies as set forth below with respect to the sale and issuance of the above-captioned obligations (the “Bonds”). [Select appropriate provisions below]%

Mandatory Sinking Fund Redemption. The Series 1998A Bonds maturing on [ ], 20[ ] are will be subject to mandatory sinking fund redemption and payment prior to their stated maturity on [ ] September 1 of the years and in the principal amounts set forth below each year, at a redemption price equal to 100% of the principal amount thereof (with no premium)thereof, plus accrued interest to the redemption date, without premium, in accordance with the terms of the Indenture. The Selection of Series 1998A Bonds maturing on such date to be Redeemed. Series 1998A Bonds in the Weekly Mode or the Monthly Mode shall be selected for redemption on each mandatory sinking fund redemption date by lot from all remaining Bonds maturing on such date. Mandatory Sinking Fund Redemption Date ([ ]) Principal Amount * * Maturity date At its option, to be exercised on or before the forty-fifth day next preceding each mandatory sinking fund redemption date, the Enterprise may (i) deliver to the Trustee for cancellation any Bond with the same maturity date as the Bonds subject to such mandatory sinking fund redemption and (ii) receive a credit redeemed in respect of its mandatory sinking fund redemption obligation for any Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption which, prior to such date, have been redeemed (otherwise than by mandatory sinking fund redemption) and cancelled and not theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each Bond so delivered or previously redeemed shall be credited at the principal amount thereof to the mandatory sinking fund redemption obligation on the mandatory sinking fund redemption dates by lot, and the principal amount of $100,000 or any integral multiple of $5,000 in excess thereof. Series 1998A Bonds in any other Interest Rate Mode shall be redeemed in the principal amount of $5,000 or any integral multiple thereof. The Series 1998A Bonds to be redeemed shall be selected by the Trustee first from Series 1998A Bonds registered in the name of or for the account of or pledged as part security to the Letter of Credit Provider, next from all other Series 1998A Bonds (other than Series 1998A Bonds registered in the name of or for the account of the Lessee other than Series 1998A Bonds pledged as security to the Letter of Credit Provider), and then, from Series 1998A Bonds registered in the name of or for the account of the Lessee. Except for the order set forth above, selection of Series 1998A Bonds or portions of Series 1998A Bonds to be redeemed shall be by such method as the Trustee shall deem equitable, provided that for this purpose Series 1998A Bonds of a denomination larger than the minimum authorized denomination or integral multiples thereof shall be treated on the same basis as if they were the appropriate number of Series 1998A Bonds of such mandatory sinking fund minimum authorized denomination. The portions of the principal of outstanding Series 1998A Bonds so selected for partial redemption on such dates shall be accordingly reducedequal to such minimum authorized denomination or integral multiples thereof. $[ ] The undersigned, on behalf of BofA Securities, Inc. (the “Representative”),on behalf of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC (together, the “Underwriting Group”), hereby certifies as set forth below with respect Any Series 1998A Bond which is to be redeemed only in part shall be submitted to the sale Paying Agent and issuance delivered to the Trustee who shall authenticate and deliver to the Owner of such Series 1998A Bond, without service charge, a new Series 1998A Bond or Series 1998A Bonds, of any authorized denomination as requested by such Owner in an aggregate principal amount equal to and in exchange for the unredeemed portion of the above-captioned obligations principal of the Series 1998A Bonds so surrendered. If the Owner of any such Series 1998A Bond of a denomination greater than the minimum authorized denomination for such Series 1998A Bond fails to present such Series 1998A Bond to the Paying Agent for payment and exchange as aforesaid, such Series 1998A Bond shall, nevertheless, become due and payable on the redemption date to the extent of the principal amount of such Series 1998A Bond called for redemption (the “Bonds”and to that extent only). [Select appropriate provisions below].

Mandatory Sinking Fund Redemption. The Bonds maturing on [ ], 20202[ ] are also subject to mandatory redemption prior to their stated maturity, in part by lot, from sinking fund redemption on [ ] of account payments derived from scheduled Base Rental Payments made by the years City and deposited in the Bonds Sinking Account, on each semi-annual principal amounts set forth below payment date commencing [ ], 202[ ], at a redemption price equal to the principal amount thereof (with no premium), plus to be redeemed and interest accrued interest thereon to the redemption date. The Bonds maturing on such date shall be selected dates fixed for redemption on each mandatory sinking fund redemption date by lot from all remaining Bonds maturing on such date. Mandatory redemption, without premium, according to the following schedule: Sinking Fund Redemption Date (to be Redeemed or Purchased * Maturity date. [ ]) Principal Amount * * Maturity date At its option, to be exercised on or before the forty-fifth day next preceding each mandatory sinking fund redemption date2012 Loop Capital Markets LLC Los Angeles, the Enterprise may (i) deliver to the Trustee for cancellation any Bond with the same maturity date as the Bonds subject to such mandatory sinking fund redemption and (ii) receive a credit in respect of its mandatory sinking fund redemption obligation for any Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption which, prior to such date, have been redeemed (otherwise than by mandatory sinking fund redemption) and cancelled and not theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each Bond so delivered or previously redeemed shall be credited at the principal amount thereof to the mandatory sinking fund redemption obligation on the mandatory sinking fund redemption dates by lot, and the principal amount of Bonds to be redeemed as part of such mandatory sinking fund redemption on such dates shall be accordingly reduced. California Re: $[ ] The undersigned, on behalf Public Facilities Financing Authority of BofA Securities, Inc. the City of San Diego Lease Revenue Bonds Series 2012C (the “Representative”),on behalf Spreckels Organ Pavilion Public Parking Garage) Ladies and Gentlemen: We have examined certified copies of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC (together, the “Underwriting Group”), hereby certifies as set forth below with respect to proceedings taken for the sale and issuance of the above-captioned obligations referenced bonds (the “Bonds”), and we have rendered our opinion to the Public Facilities Financing Authority of the City of San Diego (the “Authority”) this day regarding the validity and enforceability of the Bonds (the “Approving Opinion”). [Select appropriate provisions belowThe Bonds are being issued pursuant to an Indenture dated as of [ ] 1, 2012 (the “Indenture”), by and between the Authority and Wilmington Trust, National Association, as Trustee. You may rely upon our Approving Opinion as if it were addressed to you. Capitalized terms used herein and not otherwise defined shall have the meaning given to such terms in the Bond Purchase Agreement dated [ ], 2012 (the “Purchase Agreement”), among the Authority, the City of San Diego (the “City”) and Loop Capital Markets LLC, as Underwriter. Based upon the foregoing and such other information and documents as we consider necessary to render this opinion, we are of the opinion that:

Mandatory Sinking Fund Redemption. The Bonds maturing on [ ], 20[ ] Debentures are subject to mandatory sinking fund redemption on [ ] of prior to maturity in part, with the years and Debentures to be redeemed being selected by lot by the Trustee in such manner as the principal amounts set forth below Trustee may determine, at a the redemption price equal to of one hundred percent (100%) of the principal amount thereof (with no premium), plus accrued interest to the redemption date. The Bonds maturing date fixed for redemption, without premium, in the amounts and on such date shall be selected for redemption on each mandatory sinking fund redemption date by lot from all remaining Bonds maturing on such date. Mandatory Sinking Fund Redemption Date ([ ]) Principal Amount the dates as follows: 09/01/2008 $195,000.00 03/01/2009 200,000.00 09/01/2009 245,000.00 03/01/2010 245,000.00 09/01/2010 300,000.00 03/01/2011 300,000.00 09/01/2011 360,000.00 03/01/2012 360,000.00 09/01/2012 470,000.00 03/01/2013 475,000.00 09/01/2013 545,000.00 03/01/2014 545,000.00 09/01/2014 630,000.00 03/01/2015 * * Maturity date 630,000.00 At its option, to be exercised on or before the forty-fifth thirtieth (30th) day next preceding each any mandatory sinking fund redemption date, the Enterprise may Issuer (provided that no Event of Default shall have occurred and be continuing), may: (i) deliver to the Trustee for cancellation the Debentures of the applicable maturity or portions thereof (in Authorized Denominations) in any Bond with the same maturity date as the Bonds subject to such mandatory sinking fund redemption aggregate principal amount desired and (ii) receive a credit in respect of its mandatory sinking fund redemption obligation for any Bonds with Debentures of the same maturity (in Authorized Denominations) which prior to said date as the Bonds subject to such have been purchased or redeemed (otherwise than through mandatory sinking fund redemption which, prior pursuant to such date, have been redeemed (otherwise than by mandatory sinking fund redemptionthis Section) and cancelled by Trustee and not theretofore applied as a credit against any mandatory sinking fund redemption obligationobligation for the same maturity. Each Bond such Debenture or portion thereof so delivered or previously purchased or redeemed and cancelled by Trustee shall be credited by Trustee at one hundred percent (100%) of the principal amount thereof against the obligation to redeem Debentures of the same maturity on such mandatory sinking fund redemption obligation on the date, and any excess over such amount shall be credited against future mandatory sinking fund redemption dates by lotobligations for the same maturity in chronological order, and the principal amount of Bonds the Debentures of said maturity so to be redeemed as part of shall be accordingly reduced. Issuer will, on or before the thirtieth (30th) calendar day next preceding each such mandatory sinking fund redemption on such dates shall date, furnish Trustee with its certificate indicating whether and to what extent the provisions of (i) and (ii) of the preceding paragraph are to be accordingly reduced. $[ ] The undersigned, on behalf availed of BofA Securities, Inc. (the “Representative”),on behalf of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC (together, the “Underwriting Group”), hereby certifies as set forth below with respect to the sale and issuance of the above-captioned obligations (the “Bonds”). [Select appropriate provisions below]such mandatory sinking fund redemption payment.

Mandatory Sinking Fund Redemption. The Series 2018A Bonds that are Term Bonds (the “Series 2018A Term Bonds”) maturing on [ ]August 1, 20[ ] are 20 , shall also be subject to mandatory redemption in whole, or in part by lot, on August 1 in each year, commencing [August 1, 20 , as set forth below, from sinking fund redemption on [ ] of payments made by the years and in Successor Agency to the principal amounts set forth below Principal Account, at a redemption price equal to the principal amount thereof to be redeemed, without premium, in the aggregate respective principal amounts and on August 1 in the respective years as set forth in the following table; provided however, that (with no premium), plus accrued interest y) in lieu of redemption thereof such Series 2018A Term Bonds may be purchased by the Successor Agency pursuant to the redemption date. The Indenture, and (z) if some but not all of such Series 2018A Term Bonds maturing on such date have been optionally redeemed, the total amount of all future sinking fund payments shall be selected for redemption on each mandatory sinking fund redemption date reduced by lot from all remaining the aggregate principal amount of such Series 2018A Term Bonds maturing on such date. Mandatory Sinking Fund Redemption Date ([ ]) Principal Amount * * Maturity date At its optionso redeemed, to be exercised on or before the forty-fifth day next preceding each mandatory allocated among such sinking fund payments in integral multiples of $5,000 as determined by the Successor Agency. August 1 Principal Amount $ (maturity) The Series 2018B Bonds that are Term Bonds (the “Series 2018B Term Bonds”) maturing August 1, 20 , shall also be subject to mandatory redemption datein whole, or in part by lot, on August 1 in each year, commencing [August 1, 20 , as set forth below, from sinking fund payments made by the Enterprise may (i) deliver Successor Agency to the Trustee for cancellation any Bond with the same maturity date as the Bonds subject Principal Account, at a redemption price equal to such mandatory sinking fund redemption and (ii) receive a credit in respect of its mandatory sinking fund redemption obligation for any Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption which, prior to such date, have been redeemed (otherwise than by mandatory sinking fund redemption) and cancelled and not theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each Bond so delivered or previously redeemed shall be credited at the principal amount thereof to be redeemed, without premium, in the mandatory aggregate respective principal amounts and on August 1 in the respective years as set forth in the following table; provided however, that (y) in lieu of redemption thereof such Series 2018B Term Bonds may be purchased by the Successor Agency pursuant to the Indenture, and (z) if some but not all of such Series 2018B Term Bonds have been optionally redeemed, the total amount of all future sinking fund redemption obligation on payments shall be reduced by the mandatory sinking fund redemption dates by lot, and the aggregate principal amount of such Series 2018B Term Bonds so redeemed, to be redeemed as part of allocated among such mandatory sinking fund redemption on such dates shall be accordingly reducedpayments in integral multiples of $5,000 as determined by the Successor Agency. $[ ] August 1 Principal Amount $ (maturity) $ SUCCESSOR AGENCY TO THE The undersigned, on behalf of BofA SecuritiesXxxxxx, Inc. Xxxxxxxx & Company, Incorporated (the “Representative”),on behalf of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC (together, the “Underwriting GroupStifel”), hereby certifies as set forth below with respect to the sale and issuance of the above-captioned obligations (the “Bonds”). [Select appropriate provisions below].

Mandatory Sinking Fund Redemption. The Series 2022 A Bonds maturing on [ ]July 1, 20[ ] are subject to mandatory sinking fund redemption on [ ] of the years and __ shall be retired by Sinking Fund Installments which shall be accumulated in the principal amounts set forth below Principal Account at a redemption price equal to 100% of the principal amount thereof (with no premium)to be redeemed, plus accrued interest to the redemption date. The Bonds maturing on such date Sinking Fund Installments shall be selected for redemption on each mandatory sinking fund redemption date by lot from all remaining Bonds maturing on such date. Mandatory Sinking Fund Redemption Date ([ ]) Principal Amount * * Maturity date At its option, sufficient to be exercised on or before the forty-fifth day next preceding each mandatory sinking fund redemption date, the Enterprise may (i) deliver to the Trustee for cancellation any Bond with the same maturity date as the Bonds subject to such mandatory sinking fund redemption and (ii) receive a credit in respect of its mandatory sinking fund redemption obligation for any Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption which, prior to such date, have been redeemed (otherwise than by mandatory sinking fund redemption) and cancelled and not theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each Bond so delivered or previously redeemed shall be credited at the principal amount thereof to the mandatory sinking fund redemption obligation on the mandatory sinking fund redemption dates by lot, and redeem the principal amount of the Series 2022 A Bonds on July 1 in each of the years and in the principal amounts as follows: Date Principal Amount Mandatory Sinking Fund Redemption. The Series 2022 B Bonds maturing on July 1, 20__ shall be retired by Sinking Fund Installments which shall be accumulated in the Principal Account at a redemption price equal to 100% of the principal amount to be redeemed, plus accrued interest to the redemption date. The Sinking Fund Installments shall be sufficient to redeem the principal amount of the Series 2022 B Bonds on July 1 in each of the years and in the principal amounts as follows: Date Principal Amount * Final Maturity Whenever any Bonds are to be called for redemption in part, such Bonds may be called for redemption in any order of maturity and in any principal amount within a maturity as the Authority may designate, with the consent of the College, and in the case of any Bonds subject to scheduled mandatory redemption, the Authority may designate, with the consent of the College, whether such partial redemption shall be credited against the principal amount due at maturity or against particular scheduled Sinking Fund Installments with respect to such Bond. The Series 2022 A Bonds to be redeemed within any maturity shall be selected by the Trustee by lot or by any other method. See “DESCRIPTION OF THE BONDS – Book-Entry-Only System.” If the Series 2022 B Bonds are registered in book-entry-only form and so long as part DTC or a successor securities depository is the sole registered owner of the Series 2022 B Bonds, if less than all of the Series 2022 B Bonds of a maturity are called for redemption, the particular Series 2022 B Bonds of such mandatory sinking fund maturity or portions thereof to be redeemed will be selected on a pro rata pass-through distribution of principal basis in accordance with the DTC procedures. It is the intention of the Authority that redemption allocations of the Series 2022 B Bonds made by DTC be made on a pro rata pass-through distribution of principal basis as described above. However, none of the Authority, the College or the Underwriters of the Series 2022 B Bonds can provide any assurance that DTC, DTC’s Direct and Indirect Participants or any other intermediary will allocate the redemption of the Series 2022 B Bonds on such dates shall basis. If the DTC operational arrangements do not allow for the redemption of the Series 2022 B Bonds on a pro rata pass-through distribution of principal basis as discussed above, then the Series 2017 C Bonds will be accordingly reducedselected for redemption, in accordance with the DTC procedures, by lot or in such other manner as is in accordance with the applicable DTC operational arrangements. $[ ] The undersignedIf the Series 2022 B Bonds are not registered in book-entry-only form, any redemption of less than all of a maturity of the Series 2022 B Bonds will be allocated among the registered owners of the Series 2022 B Bonds of such maturity, as nearly as practicable, taking into consideration the Authorized Denominations of the 2022 B Bonds, on a pro rata basis. Notice of redemption will be given by the Trustee on behalf of BofA Securities, Inc. the Authority by mailing a copy of an official redemption notice by first class mail at least thirty (the “Representative”),on behalf of itself 30) days and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC not more than sixty (together, the “Underwriting Group”), hereby certifies as set forth below with respect 60) days prior to the sale and issuance redemption date to each Registered Owner of the above-captioned obligations Series 2022 Bonds to be redeemed at the address shown on the Bond Register or at such other address as is furnished in writing by such Registered Owner to the Trustee, and such mailing shall be a condition precedent to such redemption. All official notices of redemption shall be dated and shall state: (i) the “Bonds”). [Select appropriate provisions below]redemption date;

Mandatory Sinking Fund Redemption. (a) The Series 2017 Bonds maturing on [ [June 30/December 31], 20[ ] are (the “Series 2017 Term Bonds (20[ ])”) will be subject to mandatory sinking fund redemption on [ ] of the years and prior to maturity in the aggregate principal amounts and on the dates set forth below in the following schedule at a redemption price equal to of 100% of the principal amount thereof (with no premium)thereof, plus accrued interest to to, but not including, the redemption datedate fixed for redemption. The Series 2017 Term Bonds (20[ ]) will be redeemed by lot in accordance with the arrangements with the Securities Depository. Redemption Date Principal Amount to be Redeemed *Final Maturity Date (b) The Series 2017 Bonds maturing on such date shall [June 30/December 31], 20[ ] (the “Series 2017 Term Bonds (20[ ])”) will be selected for redemption on each subject to mandatory sinking fund redemption prior to maturity in the aggregate principal amounts and on the dates set forth in the following schedule at a redemption price of 100% of the principal amount thereof, plus accrued interest to, but not including, the date by lot from all remaining fixed for redemption. The Series 2017 Term Bonds maturing on such date. Mandatory Sinking Fund Redemption Date (20[ ]) will be redeemed by lot in accordance with the arrangements with the Securities Depository. Redemption Date Principal Amount * * Maturity date At its option, to be exercised Redeemed *Final Maturity Date (c) Except as otherwise provided in Section 3.06 hereof, on or before the forty-fifth (45th) day next preceding each prior to any mandatory sinking fund redemption date, the Enterprise Trustee shall proceed to select for redemption (by lot in such manner as the Trustee may determine), from the applicable Series 2017 Term Bonds subject to such redemption, an aggregate principal amount of such Series 2017 Term Bonds equal to the amount for such year as set forth in the applicable table above and shall call such Series 2017 Term Bonds or portions thereof (in Authorized Denominations) for redemption and give notice of such call. (d) At the option of the Borrower, to be exercised by delivery of a written certificate to the Trustee on or before the sixtieth (60th) day next preceding any mandatory sinking fund redemption date, it may (i) deliver to the Trustee for cancellation any Bond with Series 2017 Term Bonds or portions thereof (in Authorized Denominations) purchased in the same maturity date as open market or otherwise acquired by the Bonds subject to such mandatory sinking fund redemption and Borrower or (ii) receive specify a credit principal amount of such Series 2017 Term Bonds or portions thereof (in respect of its mandatory sinking fund redemption obligation for any Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption which, Authorized Denominations) which prior to such date, said date have been optionally redeemed (otherwise than pursuant to Section 4.01 hereof or redeemed pursuant to Section 4.03 hereof and previously cancelled by mandatory sinking fund redemption) and cancelled the Trustee at the written request of the Borrower and not theretofore applied as a credit against any mandatory sinking fund redemption obligationrequirement. Each such Series 2017 Term Bond or portion thereof so purchased, acquired or redeemed and delivered or previously redeemed to the Trustee for cancellation shall be credited by the Trustee at 100% of the principal amount thereof against the obligation of the Issuer to the mandatory sinking fund redemption obligation on the mandatory sinking fund redemption dates by lot, and pay the principal amount of Bonds to be redeemed as part of such Series 2017 Term Bond on such mandatory sinking fund redemption on date or such dates shall other mandatory sinking fund redemption date as may be accordingly reducedselected by the Borrower. $[ ] The undersigned, on behalf of BofA Securities, Inc. (In the “Representative”),on behalf of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC (togetherevent any Series 2017 Term Bonds are redeemed in part pursuant to Sections 4.01 or 4.03 hereof, the “Underwriting Group”), hereby certifies as set forth below Borrower shall provide the Trustee and the Issuer with respect to a revised mandatory sinking fund schedule for the sale and issuance of the above-captioned obligations (the “applicable Series 2017 Term Bonds”). [Select appropriate provisions below].

Mandatory Sinking Fund Redemption. The Bonds maturing on [ ]December 1, 20[ [__] are subject to mandatory sinking fund redemption on [ ] December 1 of the years and in the principal amounts set forth in the table below at a redemption price equal to the principal amount thereof (with no premium), plus accrued interest to the redemption date. The Bonds maturing on such date shall will be selected for redemption on each mandatory sinking fund redemption date by lot from all remaining Bonds maturing on such date. Mandatory Sinking Fund Redemption Date ([ ]December 1) Principal Amount * $ ___________________ * Maturity date At its option, to be exercised on or before the forty-fifth day next preceding each mandatory sinking fund redemption date, the Enterprise may (i) deliver to the Senior Trustee for cancellation any Bond with the same maturity date as the Bonds subject to such mandatory sinking fund redemption and (ii) receive a credit in respect of its mandatory sinking fund redemption obligation for any Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption which, prior to such date, have been optionally redeemed (otherwise than by mandatory sinking fund redemption) and cancelled and not theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each Bond so delivered or previously redeemed shall be credited at the principal amount thereof to the mandatory sinking fund redemption obligation on the mandatory sinking fund redemption dates by lot, and the principal amount of Bonds to be redeemed as part of such mandatory sinking fund redemption on such dates shall will be accordingly reduced. $[ ] The undersigned, on behalf of BofA Securities, Inc. (the “Representative”),on behalf of itself and Xxxxx Fargo Bank, National AssociationAssociation (the “Representative”), on behalf of itself and Xxxxxxxxx LLC, Loop Capital Markets LLC, Xxxxx Xxxxxxx & Co., Loop RBC Capital MarketsMarkets LLC, LLC and Xxxxxx XxxxxxxxXxxxxxx Xxxxxxxx Xxxxx & Co., LLC (together, the “Underwriting Group”), hereby certifies as set forth below with respect to the sale and issuance of the above-captioned obligations (the “Bonds”). [Select appropriate provisions below].

Mandatory Sinking Fund Redemption. The Series A Bonds maturing on [ ], 20[ ] are subject to mandatory sinking fund redemption prior to maturity at a redemption price of 100% of the principal amount redeemed plus accrued interest to the redemption date, on [ ] of the Annual Payment Dates in the years and in the principal amounts set forth below at a redemption price equal specified in Exhibit B to this Indenture. In the principal amount thereof event that any Series A Bonds are redeemed (with no premium), plus accrued interest to the redemption date. The Bonds maturing on such date shall be selected for redemption on each mandatory other than through sinking fund redemption date pursuant to this Section) and are cancelled by lot from all remaining the Trustee, the Trustee shall cause the Issuer to receive a credit against its sinking fund redemption obligations in the aggregate principal amount of Bonds maturing on so redeemed, such datecredits to be given in such order of maturity as may be directed by the Issuer, at the direction of the Company, with the consent of the Agent which consent shall not be unreasonably withheld or delayed provided that the Company shall provide the Agent with evidence reasonably satisfactory to the Agent that the Company has or will have sufficient funds to meet the Company's payment obligations under the Lease as they become due. Mandatory Sinking Fund Redemption Date ([ ]) Principal Amount * * Maturity date At Also, at its option, to be exercised on or before the forty-fifth day next preceding each mandatory sinking fund redemption date, the Enterprise Company may (i) deliver to the Trustee for cancellation any Bond with Series A Bonds purchased by the same maturity date as the Company pursuant to this Indenture. Such Series A Bonds subject to such mandatory sinking fund redemption and (ii) receive a credit in respect of its mandatory sinking fund redemption obligation for any Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption whichso purchased, prior to such date, have been redeemed (otherwise than by mandatory sinking fund redemption) delivered and cancelled and not theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each Bond so delivered or previously redeemed shall be credited by the Trustee at 100% of the principal amount thereof to against the mandatory sinking fund redemption obligation on obligations of the mandatory sinking fund redemption dates Issuer in such order of maturity as may be directed by lotthe Company with the consent of the Agent, which consent shall not be unreasonably withheld or delayed provided that the Company shall provide the Agent with evidence reasonably satisfactory to the Agent that the Company has or will have sufficient funds to meet the Company's payment obligations under the Lease as they become due, and the principal amount of Series A Bonds to be redeemed as part of such mandatory by sinking fund redemption on such dates shall be accordingly reduced. $[ ] The undersigned, on behalf of BofA Securities, Inc. (Concurrently with the “Representative”),on behalf of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC (togetherevents described above in this Subsection, the “Underwriting Group”), hereby certifies Trustee shall take such action as set forth below with respect may be necessary to cause the Company to receive corresponding credits against its obligations to make Lease Payments. Anything herein to the sale contrary notwithstanding, the Issuer and issuance the Company shall not receive credits pursuant to this Subsection for sinking fund redemption obligations in respect of which the above-captioned obligations (Trustee has given notice of redemption to Holders prior to the “Bonds”). [Select appropriate provisions below]accrual of such credits.

Mandatory Sinking Fund Redemption. The Bonds maturing on [ ], 20[ ] are subject to mandatory sinking fund redemption on [ ] the Interest Payment Date occurring in the month of December in each of the years and in the principal amounts set forth below commencing on the Interest Payment Date occurring in December of 1997 (each, a "Mandatory Sinking Account Payment Date"), at a redemption price equal to 100% of the principal amount thereof (with no premium)plus accrued interest as follows: Mandatory Sinking Year Account Payments ---- ---------------- 1997 30,000 1998 35,000 1999 35,000 2000 40,000 2001 40,000 2002 40,000 2003 40,000 2004 45,000 2005 45,000 2006 50,000 2007 50,000 2008 50,000 2009 55,000 2010 55,000 2011 60,000 2012 60,000 2013 65,000 2014 65,000 2015 70,000 2016* 70,000 *Final maturity of the Bonds is December 1, 2016 Optional Redemption On or prior to the Conversion Date, the Bonds are subject to redemption by the Authority, at the option of the Company, at any time, subject to the notice provisions described below, in whole or in part, at the redemption price of 100% of the principal amount thereof being redeemed plus accrued interest to the redemption date. The No such optional redemption shall occur unless there shall be available in the Bond Fund established under the Indenture sufficient Available Moneys (as defined in the Indenture) to pay all amounts due with respect to such a redemption. In the event any of the Bonds maturing or portions thereof are called for redemption as aforesaid, notice of the call for redemption, identifying the Bonds or portions thereof to be redeemed and the redemption price (including the premium, if any), shall be given by the Trustee by mailing a copy of the redemption notice by first-class mail at least thirty (30) days but not more than sixty (60) days prior to the date fixed for redemption to the Owner of each Bond to be redeemed in whole or in part at the address shown on the registration books. Any notice mailed as provided above shall be conclusively presumed to have been duly given, whether or not the Owner receives the notice. No further interest shall accrue on the principal of any Bond called for redemption after the redemption date if Available Moneys (as defined in the Indenture) sufficient for such date redemption have been deposited with the Trustee. Notwithstanding the foregoing, the notice requirements contained in the first sentence of this paragraph may be deemed satisfied with respect to a transferee of a Bond which has been purchased pursuant to the Demand Purchase Option under certain circumstances provided in Section 4.06 of the Indenture, after such Bond has previouxxx been called for redemption, notwithstanding the failure to satisfy the notice requirements of the first sentence of this paragraph with respect to such transferee. If less than all the Bonds are to be redeemed, the particular Bonds or portions thereof to be redeemed shall be selected for redemption on each mandatory sinking fund redemption date by lot from all remaining Bonds maturing on such datethe Trustee by lot. Mandatory Sinking Fund Redemption Date ([ ]) Principal Amount * * Maturity date At its option, to be exercised on or before the forty-fifth day next preceding each mandatory sinking fund redemption date, the Enterprise may (i) deliver Prior to the Trustee for cancellation Conversion Date, in case a Bond is of a denomination larger than $100,000, a portion of such Bond ($100,000 or any Bond with the same maturity date as the integral multiple of $5,000 in excess thereof) may be redeemed, but Bonds subject to such mandatory sinking fund redemption and (ii) receive a credit in respect of its mandatory sinking fund redemption obligation for any Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption which, prior to such date, have been redeemed (otherwise than by mandatory sinking fund redemption) and cancelled and not theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each Bond so delivered or previously redeemed shall be credited at redeemed only if the principal amount thereof to the mandatory sinking fund redemption obligation on the mandatory sinking fund redemption dates by lot, and remaining unredeemed portion of such Bond is in the principal amount of $100,000 or any integral multiple in excess of $100,000. The Bonds are issued pursuant to be redeemed as part and in full compliance with the Constitution and laws of such mandatory sinking fund redemption on such dates shall be accordingly reducedthe Commonwealth, particularly the Act, and by appropriate action duly taken by the Authority which authorizes the execution and delivery of the Agreement and the Indenture. $[ ] The undersignedBonds have been issued under the provisions of the Act. Notwithstanding anything to the contrary contained herein or in the Indenture, the Agreement, or in any other instrument or document executed by or on behalf of BofA Securitiesthe Authority in connection herewith, Inc. (no stipulation, covenant, agreement or obligation contained herein or therein shall be deemed or construed to be a stipulation, covenant, agreement or obligation of any present or future member, commissioner, director, trustee, officer, employee or agent of the “Representative”),on behalf Authority, or of itself any successor to the Authority, in any such person's individual capacity, and Xxxxx Fargo Bankno such person, National Associationin his individual capacity, Xxxxx Xxxxxxx & Co.shall be liable personally for any breach or nonobservance of or for any failure to perform, Loop Capital Marketsfulfill or comply with any such stipulations, LLC covenants, agreements or the principal of or premium, if any, or interest on any of the Bonds or for any claim based thereon or on any such stipulation, covenant, agreement or obligation, against any such person, in his individual capacity, either directly or through the Authority or any successor to the Authority, under any rule of law or equity, statute or constitution or by the enforcement of any assessment or penalty or otherwise, and Xxxxxx Xxxxxxxxall such liability of any such person, LLC (togetherin his individual capacity, is hereby expressly waived and released. The Owner of this Bond shall have no right to enforce the “Underwriting Group”)provisions of the Indenture or to institute action to enforce the covenants therein, hereby certifies as set forth below or to take any action with respect to any default under the sale Indenture, or to institute, appear in or defend any suit or other proceedings with respect thereto, unless certain circumstances described in the Indenture shall have occurred. In certain events, on the conditions, in the 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 before the stated maturity thereof, together with interest accrued thereon. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Authority and the rights of the Owners of the Bonds at any time by the Authority with the consent of the Company, the Bank and the holders of all Bonds at the time outstanding. Any such consent or any waiver by the Company, the Bank and the holders of all Bonds at the time outstanding shall be conclusive and binding upon the Owner and upon all future Owners of this Bond and of any Bond issued in replacement hereof whether or not notation of such consent or waiver is made upon this Bond. The Indenture also contains provisions which, subject to certain conditions, permit or require the Trustee to waive certain past defaults under the Indenture and their consequences. It is hereby certified, recited and declared that all acts, conditions and things required to exist, happen and be performed precedent to and in connection with 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 required by law; and that the above-captioned issuance of this Bond and the issue of which it forms a part, together with all other obligations (of the “Bonds”)Authority, does not exceed or violate any constitutional or statutory limitation. [Select appropriate provisions below]This Bond shall not be valid or become obligatory for any purpose or be entitled to any security or benefit under the Indenture until the certificate of authentication hereon shall have been signed by the Trustee or the Tender Agent, as authenticating agent.

Mandatory Sinking Fund Redemption. The Series 1998C Bonds maturing on [ ], 20[ ] are will be subject to mandatory sinking fund redemption and payment prior to their stated maturity on [ ] September 1 of the years and in the principal amounts set forth below each year, at a redemption price equal to 100% of the principal amount thereof (with no premium)thereof, plus accrued interest to the redemption date, without premium, in accordance with the Indenture. The Selection of Series 1998C Bonds maturing on such date to be Redeemed. Series 1998C Bonds shall be selected for redemption on each mandatory sinking fund redemption date by lot from all remaining Bonds maturing on such date. Mandatory Sinking Fund Redemption Date ([ ]) Principal Amount * * Maturity date At its option, to be exercised on or before the forty-fifth day next preceding each mandatory sinking fund redemption date, the Enterprise may (i) deliver to the Trustee for cancellation any Bond with the same maturity date as the Bonds subject to such mandatory sinking fund redemption and (ii) receive a credit redeemed in respect of its mandatory sinking fund redemption obligation for any Bonds with the same maturity date as the Bonds subject to such mandatory sinking fund redemption which, prior to such date, have been redeemed (otherwise than by mandatory sinking fund redemption) and cancelled and not theretofore applied as a credit against any mandatory sinking fund redemption obligation. Each Bond so delivered or previously redeemed shall be credited at the principal amount thereof to the mandatory sinking fund redemption obligation on the mandatory sinking fund redemption dates by lot, and the principal amount of $5,000 or any integral multiple of $5,000 in excess thereof; provided no partial redemption shall result in any Series 1998B Bond remaining Outstanding in a principal amount less than $100,000. Series 1998C Bonds shall be redeemed(by such method as the Trustee shall deem equitable, provided that for this purpose Series 1998C Bonds of a denomination larger than the minimum authorized denomination or integral multiples thereof shall be treated on the same basis as if they were the appropriate number of Series 1998C Bonds of such minimum authorized denomination. The portions of the principal of outstanding Series 1998C Bonds so selected for partial redemption shall be equal to such minimum authorized denomination or integral multiples thereof. Any Series 1998C Bond which is to be redeemed as only in part shall be submitted to the Paying Agent and delivered to the Trustee who shall authenticate and deliver to the Owner of such mandatory sinking fund redemption on Series 1998C Bond, without service charge, a new Series 1998C Bond or Series 1998C Bonds, of any authorized denomination as requested by such dates shall be accordingly reducedOwner in an aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Series 1998C Bonds so surrendered. $[ ] The undersigned, on behalf If the Owner of BofA Securities, Inc. (any such Series 1998C Bond of a denomination greater than the “Representative”),on behalf of itself and Xxxxx Fargo Bank, National Association, Xxxxx Xxxxxxx & Co., Loop Capital Markets, LLC and Xxxxxx Xxxxxxxx, LLC (together, the “Underwriting Group”), hereby certifies as set forth below with respect minimum authorized denomination for such Series 1998C Bond fails to present such Series 1998C Bond to the sale Paying Agent for payment and issuance exchange as aforesaid, such Series 1998C Bond shall, nevertheless, become due and payable on the redemption date to the extent of the above-captioned obligations principal amount of such Series 1998C Bond called for redemption (the “Bonds”and to that extent only). [Select appropriate provisions below].