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December 1, 2015 (the "Final Maturity Date"), at which time the Pr incipal Balance and all accrued and unpaid interest borne by this Note shall be paid in full. On December 1 of the years 1990, 1995, 2005, and 2010 (the "Interest Rate Adjustment Dates"), the rate of interest on this Note shall be adjusted to the sum of (a) one and one-half percent (1.50%) plus (b) the average of the four Indexes of 20 General Obligation Bonds published in The Bond Buyer most recently prior to the applicable Interest Rate Adjustment Date. Upon a change in the interest rate borne by this Note on each Interest Rate Adjustment Date, the monthly payments shall be accordingly adjusted to amortize the remaining Principal Balance in equal monthly install- ments at said adjusted rate of interest from the date of such adjustment to the Final Maturity Date. If the interest on this Note should become generally subject to federal income taxation pursuant to a "Deter- mination of Taxability" (as defined in the hereinafter de- fined Agreement), the Lender may, at its option, elect (a) to declare the entire unpaid Principal Balance and all un- paid accrued interest on this Note to be immediately due and payable in full or (b) to adjust the interest rate borne by this Note to a var iable rate equal to (i) the "Reference Rate" of First National Bank of Minneapolis (as defined in the Agreement), as the same may fluctuate from time to time, plus (ii) two percent (2.00%), effective as of the Date of Taxability (as defined in the Agreement), and if as a result of a Determination of Taxability, the Lender elects option (b) above, the interest rate adjustments provided in the preceding paragraph shall no longer apply, and the monthly payment due on each Payment Date shall be adjusted to an amount equal to the accrued interest on the Principal Balance plus a principal amount equal to the principal amount of each such monthly payment which would have been payable by the Borrower hereunder if the rate of interest in effect on the Date of Taxability had remained in effect until the Final Maturity Date. This Note is subject to mandatory redemption in whole and not in part, at a redemption price of the Principal Balance plus accrued interest to the date of such redemp- tion, on December 1, 1995, and on December 1, 2005, in the sole discretion and at the election of the Lender, upon one hundred eighty (l80) days' prior written notice to the City and the Borrower. The Principal Balance of this Note is subject to optional prepayment in whole or in part on any Payment Date, at the option of the Borrower and upon thirty (30) days' prior written notice by the Borrower to the City and the Lender, at a price of par plus accrued interest to the date of such prepayment. A - 2