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$2,645,000
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September 1, 2002
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FOR VALUE
RECEIVED, Synergetics Development Company, L.L.C., a Missouri
limited liability company (the “Obligor”) hereby
promises to pay to the order of The Industrial Development
Authority of St. Charles County, Missouri, a public corporation of
the State of Missouri (the “Issuer”), for deposit in
The Industrial Development Authority of St. Charles County,
Missouri, Bond Fund - Synergetics Development Company Project (the
“Bond Fund”) established pursuant to the Indenture of
Trust, dated as of September 1, 2002 (the
“Indenture”), from the Issuer to UMB Bank, N.A., as
Trustee (the “Trustee”), the principal amount of
$2,645,000 together with interest and premium, if any, thereon as
hereinafter provided. Said sum, together with the interest and
premium, if any, thereon, is payable in federal or other
immediately available funds during normal banking hours in
installments as follows:
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(a)
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At
or before 11:00 a.m., St. Louis, Missouri time, on the first
day of each calendar month, commencing May 1, 2003, as
principal, the amount of the principal of the Bonds (as hereinafter
defined) coming due on such Bond Payment Date, whether at stated
maturity, by redemption or acceleration or otherwise;
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(b)
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At
or before 11:00 a.m., St. Louis, Missouri time, on the first
day of each calendar month commencing October 1, 2002, as
interest, the amount of the interest coming due on the Bonds on
such Bond Payment Date; and
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(c)
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At
or before 11:00 a.m., St. Louis, Missouri time, on or before
the day on which any Bonds are to be redeemed, as premium, if any,
the amount of the redemption premium, if any, on the Bonds coming
due on such Bond Payment Date.
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The term
“Bond Payment Date” means each Interest Payment Date
(as defined in the Indenture) until the Issuer’s Private
Activity Revenue Bonds, Series 2002 (Synergetics Development
Company Project) in the principal amount of $2,645,000 (the
“Bonds”) are deemed to be paid under
Article XII of the Indenture, and any other date on
which any Bonds are to be redeemed or on which all of the Bonds
have been declared due and payable pursuant to the
Indenture.
Any moneys on
deposit in the Bond Fund on any Bond Payment Date that are
available for the payment of the principal of or redemption
premium, if any, or interest on the Bonds and not previously so
credited shall be credited to the extent of such deposits against
the obligation of the Obligor to make the payments described
above.
This Note is
issued to evidence the obligation of the Obligor to repay the loan
in the amount of $2,6
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