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<br />,- <br /> <br />-.",.-..;,-,,~ <br /> <br />84 - 005448 <br /> <br />"Bond Resolution" means Bond Resolution Nd. <br />Issuer adopted by the Governinq Body on October <br />authorizing the issuance and sale of the-Bond, as <br />amended, modified or supplemented by any <br />modifications thereof. <br /> <br /> <br />dated October 1, 1984, <br />$300,000, authorized by <br />therein. <br /> <br />in the original principal <br />the Bond Resolution and <br /> <br />"Code" means the Internal Revenue Code of 1954.. as' <br />amended, and the applicable regulations issued thereunder. <br /> <br />"Company" means Wilbeth, Inc., an Iowa corporation, its <br />successors and assigns, including any survl.Vl.ng, resulting or <br />transferee corporation or entity, as provided in Section T.02 of <br />the Lease. <br /> <br />"Completion Date" ;".' ,,," the <br />provided in Section 3.C7 of the _ease. <br /> <br />,:ate established as <br /> <br />"Construction Escrow Agreement" means the Construction <br />Escrow Agreement, dated as of October 1, 1984, by and among the <br />Issuer, the Company and the Bondholder, as escrow agent, whereby <br />the proceeds of the Bond are to be deposited in escrow and paid <br />out from time to time to pay Project Costs as therein provided. <br /> <br />"Default Rate" means an annual rate of interest of <br />1.33 times the Bond Rate, as that term is defined in the Bond. <br /> <br />"Final Determination" means the issuance of a statutory <br />notice of deficiency by the Interal Revenue Service which holds <br />in effect that the interest payable on the Bond is includable in <br />the gross income of the registered owner thereof (other than for <br />the reason that the Bond is held by a "substantial user" of the <br />Project or a "related person" within the meaning of Section <br />l03{b) (6) (C) of the Code, or for any other reason based on the <br />status, relationship or actions of the registered owner thereof) 1 <br />provided; however, that such a Final Determination shall be <br />deemed for all purposes to have occurred on the date borne by <br />such a statutory notice of deficiency unless a petition shall be <br />filed contesting such statutory notice of deficiency or such <br />deficiency shall be paid and a claim for refund shall be filed, <br />in which case a Final Determination shall be deemed to occur upon <br />the date of entry of a final judgment from which no timely appeal <br />shall have been filed. <br /> <br />-5- <br /> <br />u <br /> <br />L <br /> <br />-.J <br /> <br />I <br />L <br />