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2028 <br />2029 <br />2030 <br />2031 <br />2032 <br />The City promises to pay interest on the unpaid principal amount hereof (calculated on the basis <br />of a 360 -day year of twelve 30 -day months) from the Dated Date above, at the respective Interest <br />Rate per annum specified above. Interest is payable on March 1, 2026 and semiannually on each <br />September 1 and March 1 thereafter to the date of payment of the principal installment specified <br />above; except, that if this Note is required to be authenticated and the date of its authentication is <br />later than the first Record Date (hereinafter defined), such Principal Amount shall bear interest <br />from the interest payment date next preceding the date of authentication, unless such date of <br />authentication is after any Record Date but on or before the next following interest payment date, <br />in which case such principal amount shall bear interest from such next following interest payment <br />date; provided, however, that if on the date of authentication hereof the interest on the Note or <br />Notes, if any, for which this Note is being exchanged is due but has not been paid, then this Note <br />shall bear interest from the date to which such interest has been paid in full." <br />C. The Initial Note shall be numbered 7-1." <br />A-6 <br />