Agmt15 City of RWC Public Financing Authority Water Revenue Refunding Bonds

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. . ._,�._� . .___ .. . .I . .. . .. ARTICLE VI PREPAYMENT OF INSTALLMENT PAYMENTS Section 6.01. Prepayment. (a) The City may or shall, as the case may be, p�epay on any date from the Net Proceeds of insurance or condemnation awards, as provided herein, all or any pa�t, in integral multiples of$5,000, of the principal amount of the unpaid principal component of the Installment Payments as designated in writing by the City at a prepayment price equal to the sum of the principal amount prepaid plus accrued and unpaid interest thereon to the date of prepayment of the corresponding Bonds to be prepaid, without premium. (b) The Installment Payments relating to the Series 2015 Bonds shall not be subject to optional prepayment prior to February 1, 2025. The Installment Payments of principal relating to the Series 2015 Bonds shall be subject to optional prepayment in whole or in part in any integral multiple of$5,000, on any date on or after February 1, 2025, from any available source of funds, at the prepayment price equal to the principal amount of the Series 2015 Bonds to be prepaid from the proceeds of such prepayment pursuant to Section 4.01(b) of the Indenture, together with accrued interest thereon to the prepayment date without premium. � Except in connection with a security deposit as set forth in Section 6.03 hereof, the City shall be required to give the Trustee written notice of its intention to prepay any Installment Payment unde�this subsection (b) at least forty-five (45) days prior to the proposed prepayment date, and shall transfer to the Trustee all amounts required for such prepayment (except in the case of a prepayment from the proceeds of refunding obligations), at least thirty (30), but not greater than sixty (60), days prior to the date fixed for such prepayment. In the event that the Installment Payments shall have been prepaid by the City pursuant to subsection (a) or (b) above, the total amount of all future payments set forth in the schedule attached hereto as Exhibit B shall be reduced by the aggregate amount of such Installment Payment so prepaid, so that the remaining Scheduled Installment Payments shall be su�cient to pay principal of and interest with respect to the Outstanding Bonds. The City shall file a revised schedule of Installment Payments with the Trustee. Notwithstanding any such prepayment, the Ciry shall not be relieved of its obligations hereunder, until the entire principal amount of the unpaid Installment Payments, and together with the ordinary and extraordinary fees, costs and expenses of the Trustee shall have been fully paid and the Bonds are no longer Outstanding (or provision for payment thereof shall have been made pursuant to A�ticle IX of the Indenture and Section 6.03 hereofl. Section 6.02. Method of Prepayment. Before making any prepayment pursuant to Section 6.01, the City shall, within five (5) days following the event permitting the exercise of such right to prepay or creating such obligation to prepay, give written notice to the Trustee describing such event and specifying the date on which the prepayment will be made, which date shall be not less than forty-five (45) days nom the date such notice is given. 21