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<br />"Indenture" means the Indenture of Trust between the Issuer and Trustee, of even date <br />herewith, as the same may be amended or supplemented in accordance with its terms. <br /> <br />"Interest Payment Date" means (a) the dates required under the Indenture for payment of <br />interest or interest and principal and premium, if any, on the Bonds, i.e., January 1 and July 1 of each <br />year, until the Bonds are paid (or provisions made therefor) in accordance with the Indenture, the <br />first Interest Payment Date being January I, 2008, and (b) for Bonds subject to redemption on any <br />date, the date of such redemption. <br /> <br />"Issuer" means Cass County, North Dakota, its successors and assigns. <br /> <br />"Land" means the real estate described in Exhibit A attached hereto. <br /> <br />"Loan Agreement" means this Loan Agreement executed by and between the Issuer and the <br />Corporation as the same may be amended from time to time. <br /> <br />"Mortgage, Security Agreement and Fixture Financing Statement" or "Mortgage" means <br />the Mortgage, Security Agreement and Fixture Financing Statement executed from the Corporation <br />to the Trustee of even date herewith as the same may be amended from time to time. <br /> <br />"Mortgaged Property" means the real estate described in the Mortgage and the <br />improvements thereon. <br /> <br />"Net Proceeds" means with respect to any insurance payment or condemnation award, the <br />amount remaining therefrom after payment of all expenses (including attorneys' fees and any <br />extraordinary fee or expense of the Trustee) incurred in the collection thereof. <br /> <br />"Outstanding Bonds" or "Bonds Outstanding" means the Bonds which have been <br />authenticated and delivered under the Indenture, except: <br /> <br />(a) Bonds canceled by the Trustee or delivered to the Trustee for cancellation; <br /> <br />(b) Bonds for the payment or redemption of which cash or Governmental <br />Obligations shall have been deposited with the Trustee (whether on or prior to the maturity <br />or redemption date of any such Bonds); provided, however, that if such Bonds are to be <br />redeemed prior to maturity thereof: notice of such redemption shall have been given or <br />arrangements satisfactory to the Trustee shall have been made therefor, or waiver of such <br />notice satisfactory in form to the Trustee, shall have been filed with the Trustee; and <br /> <br />(c) Bonds for which other Bonds have been authenticated and delivered in <br />exchange therefor as provided for in the forms of the Bonds in Section 2.7 ofthe Indenture; <br />provided. however, that for the purpose of determining whether there has been notice to or <br /> <br />1-4 <br />