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12316306v3
<br />-23-
<br />Section 3.08 Sinking Fund.
<br />(a)There is hereby established and the Trustee shall during the term hereof, to the
<br />extent required hereby, maintain, so long as any of the Series 2020 Bonds shall be outstanding, a
<br />fund (which shall be maintained as a separate account within the Bond Fund) to be designated
<br />"City of Little Canada, Minnesota Senior Housing and Health Care Facilities Revenue Bonds
<br />(Langton Shores Project), Series 2020 Sinking Fund" (herein called the "Sinking Fund"). For the
<br />retirement of the Series 2020 Bonds, the Borrower has covenanted in the Loan Agreement to
<br />deposit in the Sinking Fund, as required, an amount sufficient to redeem on May 1 of the years
<br />2023, 2024, 2025, 2026, 2027, 2028, 2029, 2030, 2035, 2040, 2045, 2050, and 2057, the
<br />following principal amounts of the Series 2020 Bonds indicated below, on the dates specified
<br />(each such date being herein called a "Sinking Fund redemption date") at the principal amount
<br />thereof plus accrued interest to the redemption date:
<br />Bonds Due May 1, 2023 Bonds Due May 1, 2024
<br />Date Amount Date Amount
<br />November 1, 2022 November 1, 2023
<br />May 1, 2023 (Maturity)May 1, 2024 (Maturity)
<br />Bonds Due May 1, 2025 Bonds Due May 1, 2026
<br />Date Amount Date Amount
<br />November 1, 2024 November 1, 2025
<br />May 1, 2025 (Maturity)May 1, 2026 (Maturity)
<br />Bonds Due May 1, 2027 Bonds Due May 1, 2028
<br />Date Amount Date Amount
<br />November 1, 2026 November 1, 2027
<br />May 1, 2027 (Maturity)May 1, 2028 (Maturity)
<br />Bonds Due May 1, 2029 Bonds Due May 1, 2030
<br />Date Amount Date Amount
<br />November 1, 2028 November 1, 2029
<br />May 1, 2029 (Maturity)May 1, 2030 (Maturity)
<br />Bonds Due May 1, 2035 Bonds Due May 1, 2040
<br />Date Amount Date Amount
<br />November 1, 2030 November 1, 2035
<br />May 1, 2031 May 1, 2036
<br />November 1, 2031 November 1, 2036
<br />May 1, 2032 May 1, 2037
<br />November 1, 2032 November 1, 2037
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