URA Resolution No. 1044 - Laserfiche WebLink

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I r--I :f-I ~ .I Exhibit A Form of Subordinate Bond No. R-l $ [amount] UNITED STATES OF AMERICA URBAN RENEWAL AGENCY OF THE CITY OF EUGENE COUNTY OF LANE STA TE OF OREGON SUBORDINA TE URBAN RENEWAL BOND (RUD SECTION 108 LOAN PROGRAM) SERIES The Urban Renewal Agency of the City of Eugene, Oregon (the "Agency"), for value received, acknowledges itself indebted and hereby promises to pay, but solely from the Tax Increment Revenues, to the City of Eugene, Oregon (the "Owner"), the aggregate principal amount of $ [amount] in installments with interest, that are equal to the amounts the City of Eugene is required to pay to the U.S. Department of Housing and Urban Development, or its Fiscal Agent/Trustee, under Section 108 Loan Guarantee Program Variable/Fixed Rate Note No. B-05-MC-41-0001 (the "City HUD Note"). This Subordinate Bond is issued pursuant to Agency Resolution No. _ adopted on July 23, 2007 (the "Subordinate Bond Resolution"). Capitalized terms that are used but not defined in this Subordinate Bond have the meanings defined for such terms in the Subordinate Bond Resolution. This Subordinate Bond is issued by the Agency for the purpose of repaying HUD Loans obtained by the City of Eugene to finance the costs of urban renewal projects within the District in full and strict accordance and compliance with all of the provisions of the Constitution and Statutes of the State of Oregon. This Subordinate Bond is a special obligation of the Agency, payable solely from the Tax Increment Revenues of the District as defined and provided in the Subordinate Bond Resolution. The Agency has issued, and has reserved the right to issue in the future, obligations that are secured by a lien on the Tax Increment Revenues that is superior to or on parity with the lien securing this Subordinate Bond. THIS SUBORDINATE BOND IS NOT A GENERAL OBLIGATION OF THE AGENCY, THE CITY OF EUGENE, OR LANE COUNTY, OREGON AND IS PAYABLE SOLELY FROM THE TAX INCREMENT REVENUES AS PROVIDED IN THE SUBORDINATE BOND RESOLUTION. The Agency may prepay this Subordinate Bond only with the consent of the Owner. IT IS HEREBY CERTIFIED, RECITED, AND DECLARED that all conditions, acts, and things required to exist, to happen, and to be performed precedent to and in the issuance of this Subordinate Bond have existed, have happened, and have been performed in due time, r~ ...J: