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Optional Prepayment PREPAYMENT The principal components of the 1998 Certificates Lavuig a sta~ea due date on or after June 1, 20_, shall be subject to prepayment at the option of the County in whcle or in part on any ~iate on or after June 1, 20_, any such prepayment to be at a price equal to 100% of the principal component to be prepaid plus accrued and unpaid interest thereon through the date fixed for prepayment thereof plus a premium (expressed as a percentage of the principal component to be prepaid) as set forth in the table below: Prenavment Period Prenavment Price June 1, to May 31, % June 1, and thereafter % Mandatory Sinking Fund Prepayment The principal components of the 1998 Certificates having a stated due date of June l, 2023 (the "2023 Term Certificates") shall be subject to mandatory prepayment in part prior to the stated principal due date thereof, on the dates and in the principal amounts set forth in the following table, any such prepayment to be at a price equal to 100% of the principal amount to be prepaid plus accrued and unpaid interest thereon to date fixed for prepayment but without premium: Preaavment Date Preaavment Aroount' June 1 2019 $1,250,000 2020 1,310,000 2021 1,375,000 2~22 1,445,000 2023 (final maturity) 1,515,000 The 2023 Term Certificates to be prepaid as described above, shall be selected by the Trustee by lot from among all outstanding 2023 Term Certificates. "The County shall receive a credit against its obligation to prepay 2023 Term Certificates pursuant to the schedule shown above, and the County shall receive a like credit against its corresponding 1998 Financing Payment obligation, in an amount equal to the principal amount of any 2023 Term Certificates which: (i) (A) have theretofore been purchased by or on behalf of the County on the open market and surrendered to the Trustee for cancellation, or (B) theretofore prepaid as an optional prepayment; and (ii) for which such a credit has not been previously given. This credit shall be applied against the obligation to prepay 2023 Term Certificates in such year(s), and in such principal amount for each such year, as the County shall specify in writing to the Trustee. Prepayment Upon Damage, Destruction or Condemnation The principal components of the 1998 Certificates are also subject to mandatory prepayment in whole or in part in the event that (1) the County's share of the Project , or any portion thereof, shall have been damaged, destroyed or condemned; (2) the County shall fail to elect (by written notice delivered to the Trustee within six months from the date of such damage, destruction or condemnation) to repair or replace such damaged, destroyed or condemned County Facilities; and (3) the Net Proceeds realized by the County from any insurance payment or a condemnation award paid in respect of such damage, destruction or condemnation of the County Facilities equal or exceed the sum of $1,000,000. ' Preliminary, subject to change 13 ~ ~