20 & 21-APPROVE ABATEMENT REQUEST AS PRESENTED

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Finance SIB #52012-005-01 SuRRMA — (Paris District) I. Principal due on SIB Loan No. 1 may be prepaid by the Authority without penalty, in part, on any Payment Date, or if such Payment Date is not a business day� on the next following business day. Any prepayment of a portion (and not the whole) of the outstanding principal amount of SIB Loan No. 1 made pursuant to this Paragraph I must be in an amount equal to or greater than $5,000. Any prepayment of principal made pursuant to this Paragraph I or pursuant to Article 3, Paragraph F or Article 6 hereof, must be made on a Payment Date or if such Payment Date is not a business day, on the next following business day. Upon receipt of a prepayment of a portion (and not the whole) of the outstanding principal amount of SIB Loan No. 1 from the Authority: (1) the State shall apply such prepayment to the outstanding Principal Payments, in inverse order of Principal Payment Date (the prepayment will be applied to the last Principal Payment due and then to the next immediately preceding Principal Payment, and so on, until the prepayment amount is exhausted); (2) Exhibit D will be revised by the State to reflect the remaining Principal Payments and the revised Interest Payments due, whether upon prepayment or in the event that not atl of the SIB Loan proceeds are required to pay the Authority's costs of the Project; and (3) such revised Exhibit D shall be submitted to the Authority to be attached to and become an integral part of this Agreement. J. Payments not received by the applicabte Payment Date will bear interest at the Loan Rate (with overdue interest as well as overdue principal bearing interest) until paid. Such additional interest shall be calculated by the State on the basis of a 360-day year composed of 12 30-day months. The State may prepare a revised Exhibit D(amortization table) showing the increase in interest due resulting from late payment, termination, or misappropriation under ArtiGe 6 hereof, default under Article 7 hereof, or pursuant to other terms and conditions of this Agreement. K. The Authority hereby covenants and agrees that federal funds will not be used to make payments due on SIB Loan No. 1. Article 2. Project Description The State, the Participants, and the Authority are collectively funding the Project. Pursuant to the Advance Funding Agreement, the Authority is responsible for providing for or paying to the Department 100°� of the federal participation (in the amount of $745,125) and local participation of the costs of the right-of-way acquisition and utility relocation for the Project. Pursuant to Minute Order No. 113074, the Department has included the Project in its 2013 Unified Transportation Plan, and has authorized the use of Proposition 12 Program funds for the Project as further described in Minute Order No. 113074. Article 3. Project Responsibilities A. The SIB Loan proceeds are funds derived from the federally-authorized state infrastructure bank program. With respect to work on the Project, the Authority and the Departrnent are required to comply with the requirements of United State Code, Title 23, for federal-aid highways. The Authority and the Department must conduct all right- of-way or other land acquisitions, relocations, and utility adjustments in accordance Page 5 of 12