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13068670v2
<br />
<br />
<br /> A-2
<br />
<br />This Bond is issued pursuant to Minnesota Statutes, Chapter 462C, as amended (herein
<br />called the “Act”), and in conformity with the provisions, restrictions and limitations thereof. This
<br />Bond does not constitute a charge against the general credit or properties or taxing powers of the
<br />Issuer and does not grant to the owner of this Bond any right to have the Issuer levy any taxes or
<br />appropriate any funds for the payment of the principal hereof or interest hereon, nor is this Bond
<br />a general obligation of the Issuer or the individual officers or agents thereof. This Bond and interest
<br />hereon are payable solely from the moneys received under the Loan Agreement or Mortgage or
<br />held by the Trustee in a fund or account appropriated to the payment of the Bonds of this series
<br />under the Indenture, hereinafter mentioned, including loan repayments to be made by New
<br />Harmony Care Center, Inc., a nonprofit corporation organized and existing under the laws of
<br />Minnesota (hereinafter called the “Corporation”).
<br />This Bond is one of a duly authorized series of special, limited obligation Bonds of an
<br />aggregate principal amount of $7,550,000, in denominations of $25,000 or any greater integral
<br />multiple thereof each not exceeding the principal amount maturing in any year, and numbered
<br />from R-1 upwards, and of like tenor and effect except as to serial number, denomination, interest
<br />rate, maturity and right of prior redemption, all of which have been authorized by law to be issued
<br />and have been issued or are to be issued for the purpose of funding a loan from the Issuer to the
<br />Corporation in order to provide financing with respect to certain senior housing and skilled nursing
<br />facilities in the City of Maplewood, Minnesota, all pursuant to a Loan Agreement (the “Loan
<br />Agreement”) between the Issuer and the Corporation, dated as of May 1, 2021, a Bond Resolution
<br />adopted by the City Council of the Issuer (the “Bond Resolution”), and a Trust Indenture (the
<br />“Indenture”), dated as of May 1, 2021, duly executed and delivered by the Issuer to the Trustee.
<br />The Bonds of this series are equally and ratably secured by the Loan Agreement, the Indenture,
<br />the Bond Resolution, the Guaranty Agreement (“the Guaranty”), dated as of May 1, 2021, between
<br />Elim Care, Inc. and the Trustee, and a Subordinate Construction Mortgage, Security Agreement,
<br />Fixture Financing Statement and Assignment of Leases and Rents (the “Mortgage”), dated as of
<br />May 1, 2021, executed by the Corporation to the Trustee. Reference is hereby made to all such
<br />documents and any supplements thereto for a description and limitation of the property, revenues
<br />and funds pledged and appropriated to the payment of the Bonds, the nature and extent of the
<br />security thereby created, the conditions to the issuance of Additional Bonds, the rights of the
<br />owners of the Bonds, the rights, duties and immunities of the Trustee, and the rights, immunities
<br />and obligations of the Issuer thereunder. Certified copies of the Bond Resolution and executed
<br />counterparts of the Indenture, Loan Agreement, and Mortgage are on file at the office of the
<br />Trustee.
<br />The Bonds of this series maturing after June 1, 2026, are subject to redemption and prepayment
<br />prior to the stated maturities thereof, at the direction of the Corporation, in whole or in part, and if
<br />in part in integral multiples of $25,000 and in inverse order of maturity and by random selection
<br />within a maturity, at the following redemption price, plus accrued interest to the date of
<br />redemption.
<br />
<br />Period During Which Redeemed Redemption Price
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