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2005 409,900.001:
<br />2006 452,300.00
<br />2007 499,100.00
<br />2008 550,900.00
<br />
<br />The aggregate amount of all principal payments referenced above, $4,819,800.00 is the
<br />sum of the following amounts: outstanding princlpal amount of the Bond as of
<br />September 14, 1992 ($4,657,600); redemption premium ($93,1.52.00); interest penalty
<br />($67,379.95); and costs of amendment ($1,668.05).
<br />
<br />The Bond shall bear interest at a fixed rate of 8.18% per annum from October 1, 1992
<br />through May 31, 2002, and at the Prime Rate from June 1, 2002 until the Bond is paid
<br />in full; provided however the interest rate on the Bond shall at no time exceed 10.35%
<br />per annum. As used herein, the to,,,, 'Prime Rate' refem to that interest rate so
<br />denominated and set by Wachovia Bank of North Carolina, N.A. from time to time as
<br />an interest rate basis for borrowings. The Prime Rate is one of several interest rate
<br />bases used by Wachovia Bank of North Carolina, N.A. Wachovia Bank of North
<br />Carolina, N.A.' lends at interest rates above and below the Prime Rate. Interest to
<br />maturity is payable on December 1, 1992 and semiannually thereafter on each June 1 and
<br />December 1. Interest shall be calculated on the basis of a 360-day year for the actual
<br />number of days in each interest period.
<br />
<br />(b) Paragraph eight of the Bond is hereby amended to read as follows:
<br />
<br /> Any installment of the principal of this bond becoming due on October 1, 2000.
<br />and thereafter shall be subject to redemption prior to the due date of any such
<br />installment, at the option of the Issuer, from any moneys that may be made available for
<br />such purposes, on not more than 60 nor less than 30 days' notice mailed to the registered
<br />owner hereof, either in whole, or in part in inverse order of the maturity dates of the
<br />installments of principal, on any date not earlier than October 1, 2000, at the aggregate
<br />principal amount of the installments of principal to be redeemed, together with the
<br />interest accrued thereon to the date fixed for redemption, plus a redemption premium
<br />of 2% of such principal amount if redeemed on or prior to September 30, 2001, 1% if
<br />redeemed thereafter and on or prior to September 30, 2002, and without premium if
<br />redeemed thereafter.
<br />
<br /> Section 2. Except as specifically provided in Section I above, all original terms
<br />and provisions of the Bond shall remain in full force and effect.
<br />
<br /> Section 3. The appropriate officers of the Issuer are hereby authorized and
<br />directed to execute and deliver to the Bank an amendment to the Bond incorporating the
<br />changes described above and any and all other certificates, statements or other writings necessary
<br />or appropriate to effect the amendment of the Bond authorized by this Resolution.
<br />
<br /> Section 4. If any section, paragraph, clause or provision of this Resolution shall
<br />for any reason be held to be invalid or unenforceabl6, the invalidity or unenforceability of such
<br />
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