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<br />The Note is subject to prepayment or redemption prior to maturity at the option of the <br />City Council at any time, in whole or in part, at a redemption price equal to 100% of the <br />principal amount of Note to be redeemed, plus interest accrued to the redemption date. The <br />records of the Holder hereof shall be prima facie evidence of the amount of principal and interest <br />owed hereunder. <br /> <br />THIS NOTE IS A GENERAL OBLIGATION OF THE CITY FOR THE <br />PAYMENT OF WHICH THE CITY'S FULL FAITH AND CREDIT ARE <br />IRREVOCABL Y PLEDGED. THE CITY COUNCIL IS AUTHORIZED AND <br />REQUIRED TO LEVY AND COLLECT ANNUALLY AT THE SAME TIME AND IN <br />THE SAME MANNER AS OTHER TAXES OF THE CITY ARE ASSESSED, LEVIED <br />AND COLLECTED, A TAX UPON ALL TAXABLE PROPERTY WITHIN THE CITY, <br />OVER AND ABOVE ALL OTHER TAXES AUTHORIZED OR LIMITED BY LAW <br />AND WITHOUT LIMITATION AS TO RATE OR AMOUNT, SUFFICIENT TO PAY <br />WHEN DUE THE PRINCIPAL OF AND PREMIUM, IF ANY, AND INTEREST ON <br />THE NOTE, TO THE EXTENT OTHER FUNDS OF THE CITY ARE NOT LA WFULL Y <br />AVAILABLE AND APPROPRIATED FOR SUCH PURPOSE. <br /> <br />Reference is hereby made to the Ordinance and to all of the provisions thereof to which <br />any holder of this Note by his acceptance hereof hereby assents, for definitions of terms; the <br />description of and nature and extent of the security for the Note; the conditions upon which the <br />Ordinance may be amended or supplemented without the consent of the holder of this Note and <br />upon which it may be amended only with the consent of the holder of the Note affected thereby; <br />the rights and remedies of the holder hereof with respect hereto; the rights, duties and obligations <br />of the City; the provisions discharging the Ordinance as to this Note and for the other terms and <br />provisions of the Ordinance. <br /> <br />This Note shall not be valid or obligatory for any purpose unless the certificate of <br />authentication hereon has been duly executed by the Registrar and the date of authentication <br />inserted hereon. <br /> <br />IN WITNESS WHEREOF, the City of Martinsville, Virginia, by its City Council has <br />caused this Note to be signed by the Mayor and attested by the Clerk of said Council, by their <br />manual or facsimile signatures, and its seal to be impressed or imprinted hereon, and this Note to <br />be dated as set forth above. <br /> <br />(SEAL) <br /> <br />Clerk of the City Council <br /> <br />Mayor of the City of Martinsville <br /> <br />9 <br />