80A - TRANSIT CODE AND STATION DISTRICT - EXHIBIT J

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~TT~~~~,?ii1~ ~llr ~~~I~I~R'~ N~~`~ ~~~15~ A~I1Cy L(31~~1 ~Il[~ ~h~S~ A~~IICy ~~all~ X010 Santa AtYa, Califot~t~ia ~A~~~ ~tl~e cc~al't`04vet`~~~a promises to pay to tl~e ~I~~JI~IT~ ~~~'~EI~~PI~N~' AE~Y UI` ITS ,A~'A AAA, a pubic body, ca~~porate and politic ~tl~~ "Agency"}, a~~ order, at #l~e Agency} office at 2D Civic Center I'a~a, Salta Ala, California ~7~1 ar such other place as the Aer~cy lna desi gate in ~vri~ir~ tl~e ~ 1 ~ g~ k~ n of ~ ~ ~ ~ ~ ~ : ~ . ~ ~ ` ~ : Doll r s a ~ ~ ~tl~e "Note Arnoul~t"~, irl cul•~~e~~cy ~f #l~e United states of Al~ierica ~vl~ich at the time afpayrne~~t is la~vfk~l for the payment aflakrbllc al~d private deb#~, Ag~•een~e~~E, This P~•alnissot•y Note ~tl~e "Note"~ is givers ire accol~datrce ~~xitl~ that certair~ D~spositiol~ and DeveloiO~nerrt A.greemer~t executed ley the Agency al~d ~orro~rer, dated as of ~ l a ~tl~e "Areel~~ent"~, Tl~e rl hts a~~d obli a#ia~~s of #f~e g g I3o1•raer• and tl~e Agency under this Note shall be ga~err~ed by the Ag~•eerner~t at~d by tl~ ~ddltlolla~ tarns set forth ~ this Note. Capitalized terms l~at de~~~ed llel•ein shall have the me3al~ing ascribed to such te~~m in the Ar~eelnent~ In tl~e event of any incarlsistet~cies bet~~een tl~e terms of this Note and the terns Of tl~e Agreemel~# D1' atly Other document related #a the Note Arno~trlt, flee te~•ms of #l~is Nate shall prevail. Il~te~~est, Tl~e Note Atnaur~t slxall bear• simple il~te~iest at tl~e rate of o~~e percer~# ~ ~ per annum, from the date hereof. Repy~nell~' ~~l~ofe A~nolrzaf. Tl~e date Amount shall be laid by the Boy;raver' ar7n€za~ payrnel~t to the Agency of al] arno~zr~t egklal to fifty I'e~•ce~lt ~~°~o~ of tl~e Residk~al Receipts has defined belo~v} frarrr operatiar~ ofP~hase afthe Re~~tal Portion of #l~e I'~•oject has defined in the Agreetnet~t}, as deterrnir~ed by a residual receipts calck~latiarr from tl~e aperatiot~ of Phase R-` #l~e preceding calendar year, Annk~al ~esidk~al receipts payment shall be by the I~or•ro~ver• by cashier's check a~~d shall be delivered ors o~• before one l~k~ridl•ed t4verity ~1~~} days after #l~e end of the orx•a~~~er's fiscal year, of each year d~~r~il~g ~l~e term of this Nate first fallo~~ir~g the date Phase R-~ oftl~e project ~ot• al~y Phase the~4eo is placed in service, ul~til the Note Arr~ok~n# ar~d all unpaid inte~•est tllerea~~ leas bee~~ repaid ire firll, Ally remaining partiol~ of the Note A~rrok~nt shall be due and payable ol~ tl~e earlier to aceklr of ~a~ tl~e fifty-eighth 58th} a~tniversary of tl~e date of tl~e issuance of tl~e Release of Cobs#ructiol~ averlants for Phase R-_, or fib} Deccrnber• 31, 2a~5. Not~vithstandit~ the fo~•egoing, the firll Nate An~oun# may be accele~•ated as se# fo~•~h in ectiar~ 1 ~ hereof, ~~~llll~lUI1~F As used herein, "Ar~~~r~r~I 1~~'oject ever~~~e" shall mean all g~~ass ir7co~ne and all re~renues of arry bind fr•arn Phase irr a calendar yeah, ~ncludlr~g ~rtllout l~tnrtatron, rer~t, ectior~ l~ housir~g assistal~ce payments, if al~y, late charges, verrdirig ~nachirre income, al~d ally 1 L~~i1L-IT 1 {~i V~~1 ~OCS0~11 ~~Q67~4t~31~~~~~~-~~41