2. MIDA Bond/NDSU - Laserfiche WebLink

This Bond is transferable, but only upon registration books of the Issuer at the office of the County Auditor, as Bond Registrar, by the registered holder hereof in person or by his attorney duly authorized in writing, upon the surrender of this Bond, together with a written instrument of transfer satisfactory to the Bond Registrar duly executed by the registered owner or his attorney duly authorized in writing and thereupon, Bond or Bonds, in registered form, in the same aggregate principal amount, maturity and interest rate shall be issued to the transferee in exchange therefor. The registration, registration of transfer, and exchange ofthis Bond is subject to a charge by the Bond Registrar sufficient to cover any governmental tax or fee in connection therewith. No registration, registration of transfer, or exchange shall be made by the Bond Registrar during the period beginning on the fifteenth (15th) day of the month next preceding an Interest Payment Date and ending on such Interest Payment Date, during the period often (10) days preceding the giving of notice of redemption or after this Bond shall be called for redemption in whole or in part. The Bonds are subject to prepayment and redemption as follows: Optional Redemption. The Bonds shall be subject to redemption and prepayment prior to maturity, in whole but not in part, on December 1,2007, and any Payment Date thereafter, at the option of the Corporation, at the redemption price equal to the After Payment Termination Value set forth on the amortization schedule attached hereto together with accrued interest to the date fixed for redemption. The Bonds shall also be subject to redemption and prepayment prior to maturity in part one time on any date before December 31, 2006, in an amount not less than $100,000. The Bonds shall also be subject to redemption and prepayment prior to maturity in part on June 1,2007, and on June 1 in each year thereafter, in an amount not less than $250,000. Any partial prepayment shall be at the redemption price equal to pro rata portion of the After Payment Termination Value set forth on the amortization schedule attached hereto together with accrued interest to the date fixed for redemption. Special Redemption. The Bonds are also subject to redemption at a redemption price of 100% of the principal amount thereof, plus accrued interest in whole but not in part on any date for which proper notice can be given upon certain events of damage to, or condemnation of the Facility or any portion thereof. Upon the occurrence of a Determination of Taxability (as defined in the Loan Agreement) the Issuer shall redeem all outstanding Bonds with funds derived from a mandatory prepayment of the Loan Agreement by the Corporation. In such event, the Bonds are subject to redemption on any date for which proper notice of call can be given after the Determination of Taxability, at a redemption price of 100% of the principal amount hereof being redeemed plus accrued interest to the date fixed for redemption. In addition to the foregoing, if under certain circumstances, an Event of Default as defined in the Loan Agreement shall occur, the principal of all Bonds and all interest accrued thereon shall, without prior notice to the Bondholders, be declared due and payable. A-3