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I I ~ ~ 1 "SERIAL OBLIGATIONS" shall mean Obli ation ~2 installments (which may be annual, semiannual u arte 1 Whmo shall be stated to ature in periodic ~ q y, nthly or other state period), but not 3 including a Term Obligation. 4 5 "S~TE" means the real property on which the Courthouse Square project is to be located, as 6 more particularly described in Exhibit to the Site Mortgage. ~ - 8 "SITE MoRTGAGE" means the Mortgage dated as of December 1, 1998 I om the County, 9 as mortgagor, to the Trustee, as mortgagee, pursuant to which the County mortga es its undivided l0 interest in the Site to the Trustee as security for the payment of the Financing Pa ments. 11 12 "STATE" means the State of Oregon. ~! 13 14 "SUPPLEMENTAL AGREEMENT" means any supplement to the Agreeme entered into in 15 accordance with the terms, conditions and limitations set forth in the Agreement. 16 I~ "TAXABT~E OBLIGATION" shall mean any Certificate executed and deli~rered under the 18 Agreement, which is not a Tax-Exempt Obligation. I, 19 ~ 20 "TAX COVENANTS" shall mean, with respect to those Certificates issued as Tax-Exempt 21 Obligations, the covenants of the County contained in the Agreement and the cove ants contained 22 in the certificate delivered in connection with the original issuance of such Certifica es, in each case ~,~c3 to effect the County's compliance with the Code to ensure the initial and continued exclusion from 24 gross income for federal income tax purposes of the interest on such Certificates. 25 26 "TAX-EXEMPT OBLIGATION" shall mean any Certificate executed and deli ered under the 27 Agreement, the interest on which is excluded from gross income for federal inco e tax purposes 28 under Section 103 of the Code. 29 I 30 "TERM CERTIFICATES" means: (1) when used with respect to the 1998 Ce ificates, those 31 1998 Certificates having a stated principal due date of 1, and 1, ~ 32 and (2) when used with respect to any series of Additional Certificates, such ter shall have the 33 meaning assigned thereto in the Supplemental Agreement pursuant to which such series of 34 Additional Certificates is issued. 35 36 "T~1vSIT DTS'r~cT" means the Salem Area Mass Transit District, a politi al subdivision 37 of the State of Oregon. 38 ! 39 "TRUSTEE" means: (i) Norwest Bank Mirinesota; N.A;, and its successors d assigns; or 40 (ii) any other entity subsequently appointed by the County in accordance with the pr visions of the 41 Agreement to act as trustee under the Agreement. 42 ~ DEFINITIONS APPENDIX PAGE 13