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<br />ARTICLE 4 <br /> <br />THE LOAN, BASIC PAYMENTS, ADDITIONAL CHARGES <br />AND ADDITIONAL FINANCING <br /> <br />SECTION 4.01. THE LOAN. The Issuer agrees, upon the terms and conditions herein <br />specified, to lend to the Corporation the proceeds received by the Issuer from the sale of the Bonds, <br />excluding any accrued interest, by causing such proceeds to be deposited with the Trustee for <br />disposition as provided herein and in the Indenture. The amount of the Loan shall also be deemed <br />to include any "discount" or any other amount by which the aggregate price at which the Issuer sells <br />the Bonds to the Underwriter is less than the aggregate principal amount ofthe Bonds, plus accrued <br />interest; and the obligation of the Issuer to make the Loan shall be deemed fully discharged upon so <br />depositing the proceeds of the Bonds with the Trustee. <br /> <br />SECTION 4.02. BASIC PAYMENTS. During the term of this Loan Agreement, the <br />Corporation will pay to the Trustee a sum sufficient to meet the amounts payable for principal, <br />premium, if any , (whether at maturity, or by redemption or acceleration as provided in the Indenture, <br />by declaration or otherwise), and interest upon the Bonds and other sums provided for in the <br />Indenture as follows: <br /> <br />(a) No later than the twenty-eighth (28th) day of each month during the term of <br />this Loan Agreement, commencing July 28, 2007, the Corporation shall deposit with the <br />Trustee, in the Bond Fund, one-sixth (1/6) of the amount ofthe next interest payment to be <br />made on the Outstanding Bonds on the next Interest Payment Date; provided, that the <br />Corporation shall receive credit for amounts deposited as accrued interest on the Bonds, <br />capitalized interest and interest earnings retained in or credited to the Bond Fund. <br /> <br />(b) No later the twenty-eighth (28th) day of each month during the term of this <br />Loan Agreement, commencing July28, 2007, the Corporation shall deposit with the Trustee, <br />in the Bond Fund, one-twelfth (1112) of the amount of principal due July I, 2008, and <br />thereafter, one-twelfth (1112) of the amount of the next principal amount to be paid on the <br />Outstanding Bonds on the next principal payment date. <br /> <br />(c) If on any Interest Payment Date the balance in the Bond Fund is insufficient <br />to make the required payments of principal of, premium, if any, and interest on the Bonds, <br />the Corporation shall immediately upon demand by the Trustee pay all amounts to the <br />Trustee and the Trustee shall deposit any such deficiency into the Bond Fund. Any moneys <br />on deposit in the Bond Fund on any Interest Payment Date in excess ofthe amount required <br />for payment of principal of, premium, if any, and interest on the Bonds theretofore matured <br />or called for redemption and past-due interest shall be credited to the Corporation's next <br />payment then due under Sections 4.02 and 4.03 hereof. <br /> <br />4-1 <br />