Common use of Terms of the Certificates Clause in Contracts

Terms of the Certificates. (a) The Certificates shall be dated as of the Delivery Date. The principal evidenced by the Certificates shall become due and payable, subject to prior prepayment, on the dates, in the amounts, and shall evidence interest at the rates per annum (calculated on the basis of a 360-day year comprised of twelve 30-day months) set forth below: Principal Payment Date (October 1) Principal Component Interest Rate 2017 2018 2019 2020 2021 2022 2023 2025 2028 2037 (b) The interest evidenced by the Certificates shall be payable on each Interest Payment Date to and including their respective Principal Payment Dates or prepayment prior thereto, and shall represent the sum of the portions of the Base Rental Payments designated as interest components coming due on the Interest Payment Dates in each year. Interest evidenced by the Certificates shall be payable from the Interest Payment Date next preceding the date of execution and delivery thereof unless (i) a Certificate is executed and delivered on or before an Interest Payment Date and after the close of business on the preceding Record Date, in which event interest evidenced thereby shall be payable from such Interest Payment Date, (ii) a Certificate is executed and delivered on or before the first Record Date, in which event interest evidenced thereby shall be payable from the Delivery Date, or (iii) interest evidenced by any Certificate is in default as of the date of execution and delivery thereof, in which event interest evidenced thereby shall be payable from the date to which interest has previously been paid or duly provided for. Interest evidenced by the Certificates shall be paid in lawful money of the United States of America on each Interest Payment Date. Such interest shall be paid by check of the Trustee mailed by first- class mail, postage prepaid, on each Interest Payment Date to the Owners of the Certificates at their respective addresses shown on the Registration Books as of the close of business on the preceding Record Date. Notwithstanding the foregoing, interest evidenced by any Certificate that is not punctually paid or duly provided for on any Interest Payment Date shall, if and to the extent that amounts subsequently become available therefor, be paid on a payment date established by the Trustee to the Person in whose name the ownership of such Certificate is registered on the Registration Books at the close of business on a special record date to be established by the Trustee for the payment of such interest, notice of which shall be given to such Owner not less than ten days prior to such special record date. (c) The principal evidenced by the Certificates shall be payable in lawful money of the United States of America on their respective Principal Payment Dates and Mandatory Sinking Account Payment Dates in each year, upon presentation and surrender thereof at the Principal Office of the Trustee, and shall represent the sum of the portions of the Base Rental Payments designated as principal components coming due on the Principal Payment Dates and Mandatory Sinking Account Payment Dates in each year.

Terms of the Certificates. (a) The Series A Certificates shall be denominated “County of San Bernardino Certificates of Participation (2019 Arrowhead Refunding Project), Series A,” shall be prepared in the form of fully registered Certificates, without coupons, in Authorized Denominations. The aggregate amount of principal evidenced by the Series A Certificates that may be executed, delivered and Outstanding pursuant to this Trust Agreement shall not exceed $ , except as may be otherwise provided in Section 2.09 hereof. The Series A Certificates shall be dated as of the Delivery Closing Date. The principal evidenced by the Series A Certificates shall become due and payable, subject to prior prepayment, on October 1 of each of the datesyears, in the amounts, and shall evidence interest at the rates per annum (calculated on the basis of a 360-day year comprised of twelve 30-day months) set forth below: Principal Payment Date (October 1) Principal Component Interest Rate 2017 2018 2019 2020 2021 2022 2023 2025 2028 2037 (b) The interest evidenced by the Series A Certificates shall be payable on each Interest Payment Date to and including their respective Principal Payment Dates or prepayment prior thereto, and shall represent the sum of the portions of the Series A Base Rental Payments designated as interest components coming due on the Interest Payment Dates in each year. The principal evidenced by the Series A Certificates shall be payable on their respective Principal Payment Dates in each year and shall represent the sum of the portions of the Series A Base Rental Payments designated as principal components coming due on the Principal Payment Dates in each year. (b) The Series B Certificates shall be denominated “County of San Bernardino Certificates of Participation (2019 Arrowhead Refunding Project), Series B (Taxable),” shall be prepared in the form of fully registered Certificates, without coupons, in Authorized Denominations. The aggregate amount of principal evidenced by the Series B Certificates that may be executed, delivered and Outstanding pursuant to this Trust Agreement shall not exceed $ , except as may be otherwise provided in Section 2.09 hereof. The Series B Certificates shall be dated as of the Closing Date. The principal evidenced by the Series B Certificates shall become due and payable, subject to prior prepayment, on October 1 of each of the years, in the amounts, and shall evidence interest at the rates per annum (calculated on the basis of a 360-day year comprised of twelve 30-day months) set forth below: The interest evidenced by the Series B Certificates shall be payable on each Interest Payment Date to and including their respective Principal Payment Dates or prepayment prior thereto, and shall represent the sum of the portions of the Series B Base Rental Payments designated as interest components coming due on the Interest Payment Dates in each year. The principal evidenced by the Series B Certificates shall be payable on their respective Principal Payment Dates in each year and shall represent the sum of the portions of the Series B Base Rental Payments designated as principal components coming due on the Principal Payment Dates in each year. (c) Interest evidenced by the Certificates shall be payable from the Interest Payment Date next preceding the date of execution and delivery thereof unless (i) a Certificate is executed and delivered on or before an Interest Payment Date and after the close of business on the preceding Record Date, in which event interest evidenced thereby shall be payable from such Interest Payment Date, (ii) a Certificate is executed and delivered on or before the first Record Date, in which event interest evidenced thereby shall be payable from the Delivery Closing Date, or (iii) interest evidenced by any Certificate is in default as of the date of execution and delivery thereof, in which event interest evidenced thereby shall be payable from the date to which interest has previously been paid or duly provided for. Interest evidenced by the Certificates shall be paid in lawful money of the United States of America on each Interest Payment Date. Such interest shall be paid by check of the Trustee mailed by first- first-class mail, postage prepaid, on each Interest Payment Date to the Owners of the Certificates at their respective addresses shown on the Registration Books as of the close of business on the preceding Record Date. Notwithstanding the foregoing, interest evidenced by any Certificate that is not punctually paid or duly provided for on any Interest Payment Date shall, if and to the extent that amounts subsequently become available therefor, be paid on a payment date established by the Trustee to the Person in whose name the ownership of such Certificate is registered on the Registration Books at the close of business on a special record date to be established by the Trustee for the payment of such interest, notice of which shall be given to such Owner not less than ten days prior to such special record date. (cd) The principal evidenced by the Certificates shall be payable in lawful money of the United States of America on their respective Principal Payment Dates and Mandatory Sinking Account Payment Dates Dates, if any, in each year, upon presentation and surrender thereof at the Principal Office of the Trustee, and shall represent the sum of the portions of the Base Rental Payments designated as principal components coming due on the Principal Payment Dates and Mandatory Sinking Account Payment Dates in each year.