Document:

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                                    INDENTURE

                           dated as of August 31, 1999

                                      from

                             MCI O'FALLON 1999 TRUST

                                       to

             STATE STREET BANK AND TRUST COMPANY OF MISSOURI, N.A.,
               not in its individual capacity except as expressly
                           provided herein, but solely
                              as Indenture Trustee

                            SYNTHETIC LEASE FINANCING
                        OF MASTERCARD WINGHAVEN FACILITY

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                                TABLE OF CONTENTS

<TABLE>
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                                                                                                 PAGE
<S>                                                                                              <C>
ARTICLE 1 DEFINITIONS .........................................................................    3

ARTICLE 2 THE NOTES ...........................................................................    3

      Section 2.1. Issuance, Terms and Forms of Notes ........................................     3
      Section 2.2. Interest; Payment of Senior Secured Notes; Security .......................     6
      Section 2.3. The Register ..............................................................     7
      Section 2.4. Registration of Senior Secured Notes; Execution of Senior Secured Notes ...     7
      Section 2.5. Certificate of Authentication .............................................     7
      Section 2.6. Transfers and Exchanges ...................................................     8
      Section 2.7. Indenture Trustee as Agent ................................................     9
      Section 2.8. Registered Owner ..........................................................     9
      Section 2.9. Cancellation or Assignment of Senior Secured Notes ........................     9

ARTICLE 3 REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE
BORROWER ......................................................................................   10

      Section 3.1. Performance by Indenture Trustee ...........................................   10
      Section 3.2. Subrogation ................................................................   11
      Section 3.3. Financial Statements; Books and Records; Inspections .......................   11
      Section 3.4. Further Assurances; Recording ..............................................   12
      Section 3.5. Payment of Obligations; Rent ...............................................   13
      Section 3.6. Transfer Taxes; Filings; Lien Taxes ........................................   13
      Section 3.7. Existence; Governmental Requirements .......................................   14
      Section 3.8. Security Interest in the Bonds .............................................   14
      Section 3.9. Representations, Warranties and Covenants in the Operative Agreements ......   14

ARTICLE 4 REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE
INDENTURE TRUSTEE .............................................................................   15

      Section 4.1. Representations and Warranties of the Indenture Trustee ....................   15
      Section 4.2. Covenants of the Indenture Trustee .........................................   16

ARTICLE 5 POSSESSION, USE AND RELEASE OF THE COLLATERAL .......................................   17

      Section 5.1. Condemnation and Casualty ..................................................   17
      Section 5.2. Moneys Received by the Indenture Trustee ...................................   17
      Section 5.3. Indenture Trustee's Rights to Act ..........................................   17
      Section 5.4. Release; No Partial Releases ...............................................   18

ARTICLE 6 RECEIPT AND APPLICATION OF MONEYS ...................................................   18

      Section 6.1. Receipt of Moneys...........................................................   18
      Section 6.2. Moneys Attributable to the Lease ...........................................   18
      Section 6.3. Moneys Held in Collateral; Investments .....................................   22
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<TABLE>
<S>                                                                                               <C>
      Section 6.4. Other Payments .............................................................   23
      Section 6.5. Release of Lien ............................................................   23

ARTICLE 7 PREPAYMENT...........................................................................   23

      Section 7.1. Generally ..................................................................   23
      Section 7.2. Mandatory Prepayment .......................................................   23
      Section 7.3. Notice of Prepayment; Deposit of Moneys ....................................   24

ARTICLE 8 INDENTURE EVENTS OF DEFAULT; REMEDIES ...............................................   24

      Section 8.1. Indenture Events of Default ................................................   24
      Section 8.2. Remedies ...................................................................   26
      Section 8.3. Voluntary Appearance .......................................................   32
      Section 8.4. Suits by the Indenture Trustee .............................................   32
      Section 8.5. General Provisions Concerning Remedies .....................................   32
      Section 8.6. Remedies Cumulative ........................................................   34
      Section 8.7. The Borrower's Waivers .....................................................   34
      Section 8.8. Direction of Remedies ......................................................   35
      Section 8.9. Suit by Noteholders ........................................................   35
      Section 8.10. Certain Rights of the Borrower ............................................   35
      Section 8.11. No Action Contrary to the Lessee's Rights under the Lease .................   37
      Section 8.12. Nonrecourse Liability .....................................................   37

ARTICLE 9 TRUSTEES ............................................................................   39

      Section 9.1. Individual and Co-Trustees .................................................   39
      Section 9.2. Rights and Obligations of Indenture Trustee ................................   40
      Section 9.3. Resignation of the Indenture Trustee .......................................   44
      Section 9.4. Successor Trustee ..........................................................   44
      Section 9.5. Reliance by the Borrower ...................................................   45

ARTICLE 10 SUPPLEMENTAL INDENTURES ............................................................   46

      Section 10.1. General ...................................................................   46
      Section 10.2. Without Consent of Noteholders ............................................   46
      Section 10.3. Consent of All Noteholders ................................................   46
      Section 10.4. Consent of Less Than All Noteholders ......................................   47
      Section 10.5. Exchange; Legend or Notation; Effect ......................................   47
      Section 10.6. Consents in Writing .......................................................   47

ARTICLE 11 MISCELLANEOUS ......................................................................   47

      Section 11.1. Amendments, etc., of Certain Documents ....................................   47
      Section 11.2. Execution of Instruments by Noteholders ...................................   48
      Section 11.3. Limitation of Rights of Others ............................................   48
      Section 11.4. Severability ..............................................................   48
      Section 11.5. Notices ...................................................................   48
</TABLE>

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<TABLE>
<S>                                                                                               <C>
Section 11.6. Maximum Interest Payable ........................................................   49
Section 11.7. Action by the Required Holders ..................................................   50
Section 11.8. Counterparts ....................................................................   50
Section 11.9. Successors and Assigns ..........................................................   50
Section 11.10. Table of Contents, Headings ....................................................   50
Section 11.11. GOVERNING LAW ..................................................................   50
Section 11.12. Incorporated Schedules and Exhibits ............................................   50
Section 11.13. Section References .............................................................   50
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EXHIBIT A-1       Form of Series A Note

EXHIBIT A-2       Form of Series B Note

EXHIBIT B         Form of Certificate of Authentication

ANNEX A           Certain Definitions

SCHEDULE A        Land

SCHEDULE B        Payment Instructions

                                     - iv -

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         INDENTURE dated as of August 31, 1999 (herein, together with all
amendments and supplements hereto, this "INDENTURE"), from MCI O'FALLON 1999
TRUST, a business trust organized under the laws of the State of Delaware (the
"BORROWER"); to STATE STREET BANK AND TRUST COMPANY OF MISSOURI, N.A., a
national banking association, not in its individual capacity except as expressly
provided herein, but solely as Indenture Trustee (together with its successors,
substitutes and assigns in such capacity, the "INDENTURE TRUSTEE") for the
benefit of the Noteholders (as defined below).

                              W I T N E S S E T H :

         WHEREAS, MasterCard International Incorporated, a non-stock membership
corporation organized under the laws of the State of Delaware (the "LESSEE"),
the Borrower, the Trust Company, the Indenture Trustee and certain financial
institutions (the "PURCHASERS") listed on Schedule A to the Note Purchase
Agreement (referred to below) have entered into a Participation Agreement, dated
as of August 31, 1999 (as amended or supplemented from time to time, the
"PARTICIPATION AGREEMENT"), which provides for a synthetic lease financing of
acquiring, constructing and equipping of an approximately 414,000 square foot
office space, an approximately 114,000 square foot data and energy center
providing and utilizing reliable, redundant energy and communications sources
and parking for approximately 1,751 cars, constituting, together with the Land
and the other Improvements, the Facility (as defined below), substantially in
accordance with the Facility Requirements (as defined below) to be used by the
Lessee as its Global Technology and Operations Center;

         WHEREAS, in connection with such financing, the Borrower has agreed to
issue and sell, and the Purchasers have agreed to purchase, pursuant to the
Series A Note Purchase Agreement, dated as of August 31, 1999, between the
Borrower and the Purchasers (as amended or supplemented from time to time, the
"SERIES A NOTE PURCHASE AGREEMENT"), from the Borrower $149,380,000 in aggregate
principal amount of its 7.36% Series A Senior Secured Notes due September 1,
2009 (the "SERIES A NOTES", such term to include any such Notes issued in
substitution or replacement therefor pursuant to this Indenture), subject to the
terms and conditions of the Series A Note Purchase Agreement;

         WHEREAS, the proceeds of the Series A Notes and the Investor
Contribution (as defined below) will be used by the Borrower to acquire
$154,000,000 in aggregate principal amount of Industrial Development Revenue
Bonds (Winghaven/MasterCard Project) Series 1999A, due September 1, 2009 (the
"SERIES A BONDS") issued by the Missouri Development Finance Board, a body
corporate and politic, organized and existing under the laws of the State of
Missouri (the "BOARD") and a fee owner of that certain parcel of land in the
City of O'Fallon, Missouri, together with all Appurtenant Rights attached
thereto, as more particularly described on Schedule A hereto (the "LAND");

         WHEREAS, the proceeds from the sale of the Series A Bonds, together
with approximately $3,700,000 deposited by the Bond Sublessor (as defined below)
to fund capitalized interest on the Series A Bonds during the Construction
Period (as defined below), will be (a) deposited in the Escrow Account (as
defined below) with the Indenture Trustee, in its capacity as

                                     - 1 -

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the Escrow Agent, pursuant to the Escrow Agreement, dated as of the date hereof
(as amended or supplemented from time to time, the "ESCROW AGREEMENT"), among
the Escrow Agent, the Indenture Trustee and the Borrower, and (b) used to
develop and construct the Facility and to pay the Facility Costs (as defined
below);

         WHEREAS, as of the Closing Date, (a) the Board will lease the Facility
to the O'Fallon Public Facilities Authority, a non-profit corporation organized
under the laws of the State of Missouri (the "BOND SUBLESSOR"), pursuant to a
Bond Lease, dated as of the date hereof (as amended or supplemented from time to
time, the "BOND LEASE"), (b) the Bond Sublessor will sublease the Facility to
the Borrower pursuant to a Bond Sublease, dated as of the date hereof (as
amended or supplemented from time to time, the "BOND SUBLEASE"), and (c) the
Borrower will sublease the Facility to the Lessee pursuant to a Lease, dated as
of the date hereof (as amended or supplemented from time to time, the "LEASE");

         WHEREAS, in the event that additional financing is needed to complete
the Facility, the Borrower may, upon request of the Lessee and subject to
certain conditions, issue its Series B Senior Secured Notes due September 1,
2009 (the "SERIES B NOTES", such term to include any such Notes issued in
substitution or replacement therefor pursuant to this Indenture, and together
with the Series A Notes, the "ORIGINAL NOTES") in an aggregate principal amount
not to exceed $5,000,000 to be purchased (if and when issued) pursuant to a
separate note purchase agreement (as amended or supplemented from time to time,
the "SERIES B NOTE PURCHASE AGREEMENT," and collectively with the Series A Note
Purchase Agreement, the "NOTE PURCHASE AGREEMENTS") on the terms substantially
the same as the terms set forth in the Series A Note Purchase Agreement and the
conditions set forth in Section 5 of the Participation Agreement (and the
purchasers of such Series B Notes pursuant to the Series B Note Purchase
Agreement shall be deemed to be Purchasers under the Participation Agreement);

         WHEREAS, (a) the proceeds of the Series B Notes (if any) and the
additional Investor Contribution (as described in Section 2.1 of the
Participation Agreement) will be used by the Borrower to acquire Industrial
Development Revenue Bonds (Winghaven/MasterCard Project) Series 1999B, due
September 1, 2009 (the "SERIES B BONDS", and together with Series A Bonds, the
"BONDS") in aggregate principal amount equal to the aggregate principal amount
of the Series B Notes and such additional Investor Contribution then issued by
the Board and (b) the proceeds from the sale of the Series B Bonds will be
deposited in the Escrow Account pursuant to the Escrow Agreement and used to
develop and construct the Facility and to pay the Facility Costs;

         WHEREAS, the Borrower (a) has authorized the creation of the Original
Notes and, subject to the terms and conditions of this Indenture and the other
Operative Agreements, may authorize in the future its Senior Secured Notes that
may be issued under Section 2.l(d) of this Indenture (the "EXPANSION NOTES,"
such term to include any such Notes issued in substitution or replacement
therefor pursuant to this Indenture, and together with the Original Notes, the
"SENIOR SECURED NOTES") and (b) has also authorized the execution and delivery
of this Indenture, pursuant to which the Indenture Trustee will authenticate and
deliver the Series A Notes to the Purchasers;

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         NOW, THEREFORE, in consideration of the premises, the acceptance by the
Indenture Trustee of the trusts hereby created and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, in
order to DECLARE THE TERMS AND CONDITIONS UPON AND SUBJECT TO WHICH the Senior
Secured Notes are to be issued, authenticated and delivered:

                                    ARTICLE 1

                                   DEFINITIONS

         For purposes of this Indenture, capitalized terms used herein and not
otherwise defined herein shall have the meanings assigned to them in Annex A
attached to the Participation Agreement and incorporated herein by reference.
The rules of usage set forth in such Annex A shall apply hereto.

                                    ARTICLE 2

                                    THE NOTES

         SECTION 2.1. ISSUANCE, TERMS AND FORMS OF NOTES. (a) On the Closing
Date, the Borrower shall execute and deliver the Series A Notes to the Indenture
Trustee for authentication and the Indenture Trustee shall authenticate and
deliver the Series A Notes to the Purchasers. On a closing date with respect to
the Series B Notes, the Borrower shall execute and deliver the Series B Notes to
the Indenture Trustee for authentication and the Indenture Trustee shall
authenticate and deliver the Series B Notes to the purchasers thereof. On any
closing date with respect to any Expansion Notes, the Borrower shall execute and
deliver such Expansion Notes to the Indenture Trustee for authentication and the
Indenture Trustee shall authenticate and deliver such Expansion Notes to the
purchasers thereof; provided that the Indenture Trustee shall not authenticate
any Expansion Notes that are issued not in compliance with Section 2.1(d).

                  (b)      SERIES A NOTES. The Series A Notes shall be issued
pursuant to the terms of the Series A Note Purchase Agreement and this Indenture
and shall be substantially in the form set forth in Exhibit A-l, with such
changes as may be agreed to by the Borrower and the Purchasers.

                  (c)      SERIES B NOTES. The Series B Notes shall be issued
pursuant to the terms of the Series B Note Purchase Agreement and this Indenture
and shall be substantially in the form set forth in Exhibit A-2, with such
changes as may be agreed to by the Borrower and the Purchasers.

                  (d)      EXPANSION NOTES. The Borrower may, from time to time
after the Completion Date, upon the Lessee's request made pursuant to Section
7.6 of the Lease (under such circumstances and subject to such consents as
therein provided), issue under this Indenture Expansion Notes of one or more
Series (such series, together with the Series A Notes and the

                                     - 3 -

<PAGE>

Series B Notes, are sometimes each referred to herein as a "SERIES"), in an
original principal amount for each such Series of not less than $10,000,000, for
the purpose of enabling the Lessee to expand the Facility. The Expansion Notes
of each Series shall be originally issued only to one or more Institutional
Investors, and each Expansion Note of such Series shall mature on any Payment
Date not earlier than the stated maturity of the Series A Notes and the Series B
Notes and shall be payable in the following manner: interest accrued and unpaid
on the unpaid principal amount of such Expansion Note from the date of issuance
thereof shall be payable on each Payment Date in each year commencing with the
first Payment Date after the date thereof; and the principal of such Expansion
Note shall be payable on the stated maturity thereof, as provided in the
Supplemental Indenture establishing such Series. Expansion Notes of each Series
shall (A) be established and designated by a Supplemental Indenture, (B) be in
such form (including the form of the Trustee's certificate of authentication
thereon), bear interest (computed as shall be provided in such Supplemental
Indenture) on the unpaid principal amount thereof from the date of issuance
thereof to maturity, whether by acceleration or otherwise, and unless prohibited
by law, on any overdue principal, premium and interest until paid, at such rate
or rates, as shall be provided in such Supplemental Indenture, and (C) be
limited in aggregate principal amount to 97% the amount of the additional
Facility Costs for which the proceeds thereof will be used. The Expansion Notes
of each Series shall be, insofar as commercially reasonable, subject to the same
terms and conditions as the Original Notes. The Indebtedness evidenced by all
Expansion Notes of any Series shall be secured by the Security Documents on a
parity with the Indebtedness evidenced by the Original Notes and the Expansion
Notes of every other Series, without preference, priority or distinction as to
Lien or otherwise; provided, however, that, notwithstanding anything herein or
in any other Operative Agreement to the contrary, no Series of Expansion Notes
may be issued or sold unless (i) the Basic Rent shall be increased by the amount
of interest payable with respect to such Expansion Notes (and by the amount of
any additional yield on any additional investor contribution associated with
such Expansion Notes), (ii) the Termination Value and the amount of Guaranteed
Obligations (as defined in the Guarantee) shall be increased by the amount of
principal of, interest on, any applicable Make Whole Premium on, and any other
costs and expenses (including, without limitation, any indemnification payments
made in respect thereof pursuant to Article 11 of the Participation Agreement)
in respect of, such Series of the Expansion Notes (and, in the case of
Termination Value, by the amount of any additional investor contribution
associated with such Expansion Notes), (iii) the Maximum Residual Guarantee
Amount shall be increased by the product of (x) the increase of the Termination
Value attributable to such Expansion Notes referred to in clause (ii) above
multiplied by (y) a fraction, the numerator of which is equal to the Maximum
Residual Guarantee Amount immediately prior to the adjustment thereof pursuant
to the foregoing clause (iii), and the denominator of which is equal to the
Termination Value immediately prior to the adjustment thereof pursuant to clause
(ii) above, (iv) the Lease, the Bond Lease and the Bond Sublease shall be
amended, in form and substance reasonably satisfactory to the Required Holders,
to reflect such increases, (v) the amount payable under the Residual Value
Policy shall be increased by the excess of (x) the Termination Value increased
pursuant to clause (ii) above over (y) the Maximum Residual Guarantee Amount as
increased pursuant to clause (iii) above, (vi) the amounts under the title
insurance policies shall be increased to cover the amount of such Series of
Expansion Notes, (vii) the Guarantee shall be amended, in form and substance
reasonably satisfactory to the Required Holders, to reflect the increases in the
Termination Value and the Maximum Residual

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Guarantee Amount, (viii) the Security Documents and the other Operative
Agreements shall be amended to reflect the foregoing amendment to the Lease, the
Bond Lease and the Bond Sublease and the granting of additional collateral and
security interests for the benefit of the holders of the Original Notes and such
Series of Expansion Notes, in the form and substance reasonably satisfactory to
the Required Holders, (ix) the Board shall issue and sell to the Lessor a new
series of Industrial Development Revenue Bonds (Winghaven/MasterCard Project) in
aggregate principal amount equal to the additional Facility Costs for which the
proceeds thereof will be used, and (x) an additional Investor Contribution shall
be made in the amount equal to 3% of the additional Facility Costs for which the
proceeds thereof will be used; and provided, further, that:

                  (i)      no Indenture Default or Indenture Event of Default
         shall have occurred and be then continuing, and all payments
         theretofore required to be made on the Senior Secured Notes then
         outstanding shall have been made,

                  (ii)     such Expansion Notes shall first be offered to the
         Offerees in accordance with Article 11 of the Series A Note Purchase
         Agreement (and any comparable provision of the Series B Note Purchase
         Agreement or any note purchase agreement with respect to any Series of
         the Expansion Notes then Outstanding), and if the Offerees do not
         desire to purchase such Expansion Notes, only to other Institutional
         Investors,

                  (iii)    each such Institutional Investor then purchasing any
         such Expansion Notes shall have made representations substantially in
         the form set forth in Article 7 of the Series A Note Purchase
         Agreement,

                  (iv)     the issuance and sale of such Expansion Notes could
         not, after giving effect to such issuance and sale, individually or in
         the aggregate, be reasonably expected to have a Material Adverse
         Effect, and

                  (v)      the Indenture Trustee and each of the Noteholders
         shall have received (A) a resolution of the board of directors of the
         Lessee, certified by the Secretary or the Assistant Secretary of the
         Lessee, authorizing the Lessee's request to issue such Expansion Notes,
         (B) a resolution of the governing body of the Borrower, certified by
         the Secretary or the Assistant Secretary of the Borrower, authorizing
         the issuance of the Expansion Notes proposed to be issued, (C)
         resolutions of the Board and the Bond Sublessor, certified by the
         Secretary or the Assistant Secretary of the Board or the Bond
         Sublessor, as the case may be, authorizing the issuance of an
         appropriate series of Industrial Development Revenue Bonds
         (Winghaven/MasterCard Project) in aggregate principal amount equal to
         the additional Facility Costs for which the proceeds thereof will be
         used and authorizing the amendments to the Bond Lease and the Bond
         Sublease, as the case may be, (D) an application of the Borrower
         requesting the Trustee to authenticate and deliver such Expansion Notes
         and (E) an opinion of counsel reasonably satisfactory to the Indenture
         Trustee and the Required Holders stating that all conditions precedent,
         under this Indenture and the other Operative Agreements, to the
         issuance of such Expansion Notes have been fulfilled. The Indenture
         Trustee may consult with counsel, and the advice of such counsel shall
         be full and complete authorization and protection with

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<PAGE>

         respect to any action taken by the Indenture Trustee in connection with
         the issuance of any Expansion Notes.

         SECTION 2.2. INTEREST; PAYMENT OF SENIOR SECURED NOTES; SECURITY. (a)
Each Senior Secured Note shall be dated and accrue interest from the date the
purchase price for such Senior Secured Note is paid (whether to the Borrower or
to its order) and shall bear interest on the unpaid principal amount thereof at
the Interest Rate; provided, however, that if an Indenture Event of Default has
occurred and is continuing, the unpaid principal amount of, and due and unpaid
interest on, such Senior Secured Note shall bear interest at the Overdue Rate,
until such Indenture Event of Default is cured.

                  (b)      The interest on each Senior Secured Note shall be
payable on the Payment Dates and in the amounts of interest specified in such
Senior Secured Note, and the principal amount then owing on such Senior Secured
Note shall be due and payable on the Maturity Date specified in such Senior
Secured Note. The Senior Secured Notes are subject to prepayment as provided in
Article 7 hereof.

                  (c)      The Borrower shall make all payments with respect to
the Senior Secured Notes to the Indenture Trustee as provided in Schedule B
hereto. The principal of, premium, if any, and interest on each Senior Secured
Note shall be payable by the Indenture Trustee to the holder of such Senior
Secured Note at the Indenture Trustee's Office in lawful money of the United
States of America, against presentation of such Senior Secured Note for notation
of the payment or prepayment made thereon or, in the case of a payment or
prepayment which shall discharge all Indebtedness of the Borrower evidenced
thereby, against surrender or assignment thereof.

                  (d)      Notwithstanding the provision of Section 2.2(c) or
any provision in the Senior Secured Notes to the contrary, the Indenture Trustee
shall, if so requested by a Noteholder by written notice, pay all amounts
payable by the Borrower hereunder to such Noteholder or a nominee therefor (i)
by crediting, in immediately available funds, the amount to be distributed to
such Noteholder to an account maintained by such Noteholder with the Indenture
Trustee, (ii) by mailing a check payable in immediately available funds to such
Noteholder at such address as Noteholder shall have specified in such notice, or
(iii) by wire transfer or other transfer in immediately available funds to such
bank (for the account of Noteholder) as may be specified in such notice (which
shall include the name of the bank, which shall be in the continental United
States of America, such bank's address, ABA routing number and the name and
telephone number of a contact person at such bank and shall acknowledge that a
transfer fee is payable), in any case without any presentment or surrender of
any Senior Secured Note; provided, however, that each Noteholder, by its
acceptance of the Senior Secured Notes, agrees that (A) any Senior Secured Note
paid or prepaid in full, upon the written request of the Borrower, shall be
surrendered within thirty days after the receipt of such request to the
Indenture Trustee (provided that the Indenture Trustee shall give each
Noteholder a 30-day advance notice with respect to such surrender) for
cancellation or assigned to such Person as the Borrower shall designate (without
recourse to the assignor) concurrent with the making of the final payment of all
amounts owing in respect of such Senior Secured Note on account of such Senior
Secured Note, and

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<PAGE>

(B) such Noteholder shall not sell, transfer or otherwise dispose of such Senior
Secured Note other than as provided in Section 2.6 hereof. Until the Indenture
Trustee has been notified of a different payee or payment instructions with
respect to any Purchaser, all payments to such Purchaser with respect to its
Senior Secured Notes shall be made by the Indenture Trustee in the manner
provided in Schedule A to the Note Purchase Agreements.

                  (e)      If the scheduled date for any payment of interest on
or principal of any Senior Secured Note shall not be a Business Day, then such
payment need not be made on such scheduled date but may be made on the next
following Business Day with the same force and effect as if made on such
scheduled date.

                  (f)      Subject to the release provisions contained in
Section 5.4, all Outstanding Original Notes (and to the extent provided in
Section 2.l(d), Expansion Notes) shall be equally and ratably secured by a
first priority Lien on the Collateral, without preference, priority or
distinction on account of the date or dates or the actual time or times of the
issue of such Original Notes (and to the extent provided in Section 2.1(d),
Expansion Notes), so that all Outstanding Original Notes (and to the extent
provided in Section 2.l(d), Expansion Notes) shall have the same right, Lien
and preference under and by virtue of the Security Documents and in respect of
the Collateral.

                  (g)      All Outstanding Original Notes (and to the extent
provided in Section 2.l(d), Expansion Notes) shall also have the benefit,
equally and ratably, of guarantees by and undertakings of (i) the Guarantor to
the extent provided in the Guarantee, (ii) the Construction Agent, to the extent
provided in Article VIII of the Facility Agency Agreement and (iii) the Insurer
to the extent provided in (x) the Residual Value Policy and (y) the Construction
Termination Policy.

         SECTION 2.3. THE REGISTER. The Indenture Trustee shall cause to be kept
at the Indenture Trustee's Office (i) one or more books (the "REGISTER") for the
registration of the Senior Secured Notes (including all transfers) and the name
and address of the holders of the Senior Secured Notes.

         SECTION 2.4. REGISTRATION OF SENIOR SECURED NOTES; EXECUTION OF SENIOR
SECURED NOTES. All Senior Secured Notes shall be registered as to principal
amount and interest and may be issued in denominations of $100,000 or any
multiple in excess thereof (except one Senior Secured Note of each Series may be
issued to a Noteholder in a lesser denomination). The Senior Secured Notes shall
be signed on behalf of the Borrower by one of its Responsible Officers.

         SECTION 2.5. CERTIFICATE OF AUTHENTICATION. No Senior Secured Note
shall be valid or become obligatory for any purpose or be binding upon the
Borrower, or be entitled to the benefits of this Indenture and the benefits and
security of the Security Documents, unless and until it has been authenticated
by the Indenture Trustee's execution of the certificate of authentication
thereon in the form set forth as Exhibit B. The authentication and delivery by
the Indenture Trustee of any Senior Secured Note shall be conclusive evidence
that such Senior Secured Note

                                     - 7 -

<PAGE>

has been duly issued and is entitled to the benefits of this Indenture and the
benefits and security of the Security Documents, as herein provided.

         SECTION 2.6. TRANSFERS AND EXCHANGES. (a) The Senior Secured Notes
shall be transferred or exchanged only on the Register. Any Senior Secured Note
of any Series may, upon surrender to the Indenture Trustee at the Indenture
Trustee's Office, be transferred or exchanged for one or more new Senior Secured
Notes of the same Series in proper denominations as requested by a Noteholder,
which new Senior Secured Notes of such Series shall be in an aggregate principal
amount the same as the original principal amount of the Senior Secured Note of
such Series so surrendered; provided, however, that in the case of a transfer to
a third party, the Senior Secured Note to be transferred shall be accompanied by
an instrument of transfer satisfactory to the Borrower and the Indenture
Trustee; and provided, further, that in the case of a requested exchange or
transfer of a lost, destroyed or stolen Senior Secured Note, a Noteholder shall
not be required to surrender such Senior Secured Note, but shall furnish to the
Borrower and the Indenture Trustee such security (which, if the Noteholder shall
be an Institutional Investor, shall consist only of an agreement to indemnify
the Borrower and the Indenture Trustee against loss or liability in connection
with the issuance of Senior Secured Notes) and such evidence of loss,
destruction, theft and ownership as they may reasonably require. The Borrower
shall thereupon execute, and the Indenture Trustee shall authenticate and
deliver, within five Business Days, a new Senior Secured Note or Senior Secured
Notes in the requested denomination or denominations, for the same aggregate
original principal amount of the same Series as the surrendered, lost, stolen or
destroyed Senior Secured Note or Senior Secured Notes, and registered in the
requested names. The Indenture Trustee shall not be required to transfer any
Senior Secured Note on the Register within fifteen (15) days immediately
preceding any Payment Date or the giving of any notice of prepayment.

         (b)      The Indenture Trustee shall mark on each new Senior Secured
Note (i) the principal amount of such new Senior Secured Note, (ii) the date to
which interest has been paid on the Senior Secured Note or Senior Secured Notes
so surrendered, lost, stolen or destroyed and (iii) the amount of all payments
and prepayments of principal previously made on the Senior Secured Note or
Senior Secured Notes so surrendered, lost, stolen or destroyed that are
allocable to such new Senior Secured Note. Each payment of interest and
principal and any other amounts payable on such new Senior Secured Note shall
bear the same proportion to the corresponding payment of interest and principal
and any other amounts on the Senior Secured Note or Senior Secured Notes so
surrendered, lost, stolen or destroyed as the principal amount of such new
Senior Secured Note bears to the principal amount of the Senior Secured Note or
Senior Secured Notes so surrendered, lost, stolen or destroyed. Interest shall
be deemed to have been paid or accrued, as the case may be, on such new Senior
Secured Note to the date to which interest shall have been paid or shall have
accrued, as the case may be, on the Senior Secured Note or Senior Secured Notes
so surrendered, lost, stolen or destroyed, and all payments and prepayments of
principal marked on such new Senior Secured Note shall be deemed to have been
made thereon. Such new Senior Secured Note shall be dated the date of the Senior
Secured Note or Senior Secured Notes so surrendered, lost, stolen or destroyed.
No service charge shall be made for any exchange or transfer of Senior Secured
Notes, but the Indenture Trustee may require payment by the Noteholder
requesting such exchange or transfer of a sum to cover any Tax or governmental

                                     - 8 -

<PAGE>

charge that may be imposed with respect thereto and the Indenture Trustee's
reasonable fees with respect to issuing a replacement Senior Secured Note for
any lost, stolen or destroyed Senior Secured Note. All Senior Secured Notes
issued in exchange or substitution or replacement for Senior Secured Notes so
surrendered, lost, stolen or destroyed shall be valid obligations of the
Borrower, evidencing the same Indebtedness (and of the same Series) as the
Senior Secured Notes surrendered, lost, stolen or destroyed and shall be
entitled to the benefits of this Indenture and the benefits and security of the
Security Documents, as the Senior Secured Notes surrendered, lost, stolen or
destroyed.

         (c)      The Borrower agrees to furnish with reasonable promptness,
upon the request of any Noteholder which is an Institutional Investor, such
information as is specified in paragraph (d)(4) of Rule 144A under the
Securities Act (or any successor provision) to such Institutional Investor or to
a prospective transferee of Senior Secured Notes, provided that such
Institutional Investor informs the Borrower that it reasonably believes such
transferee is a qualified institutional buyer within the meaning of Rule 144A,
in order to permit compliance by such Institutional Investor with Rule 144A in
connection with the transfer of such Senior Secured Note.

         (d)      In the event that any Noteholder fails to provide a correct
tax identification number to the Indenture Trustee, the Indenture Trustee may
make a charge against such Noteholder sufficient to pay any governmental charges
as the result of such failure. In compliance with Section 3406 of the Code, this
amount may be deducted by the Indenture Trustee from amounts payable to such
Noteholder under this Indenture or the Senior Secured Notes.

         SECTION 2.7. INDENTURE TRUSTEE AS AGENT. The Indenture Trustee is
hereby appointed the agent of the Borrower for the payment of the Senior Secured
Notes, and for registration, transfer and exchange of the Senior Secured Notes.
Subject to the provisions of Section 2.2(d), Senior Secured Notes may be
presented for payment at or sent to the Indenture Trustee's Office.

         SECTION 2.8. REGISTERED OWNER. The Borrower and the Indenture Trustee
shall deem and treat the Person in whose name any Senior Secured Note shall be
registered as the absolute owner thereof (whether or not such Senior Secured
Note shall be overdue) for the purpose of receiving payments of principal,
premium, if any, and interest on such Senior Secured Note and for all other
purposes, and neither the Borrower nor the Indenture Trustee shall be affected
by any notice to the contrary. All such payments made to or upon the order of
such Person, including all payments made on the Senior Secured Notes to the
Indenture Trustee as agent for the Noteholders, shall be valid and effective to
satisfy and discharge the liability upon such Senior Secured Notes to the extent
of the sums so paid.

         SECTION 2.9. CANCELLATION OR ASSIGNMENT OF SENIOR SECURED NOTES. All
Senior Secured Notes surrendered for the purpose of payment, prepayment,
transfer or exchange shall, if surrendered to any Person other than the
Indenture Trustee, be promptly delivered to the Indenture Trustee for
cancellation or assignment (without recourse). The Borrower shall promptly
deliver to the Indenture Trustee for cancellation or assignment (without
recourse), any Senior Secured Notes previously authenticated and delivered
hereunder which the Borrower may have acquired in any manner whatsoever. All
Senior Secured Notes surrendered to the Indenture

                                     - 9 -

<PAGE>

Trustee pursuant to this Section 2.9 shall be canceled or assigned (without
recourse) by Indenture Trustee, and no Senior Secured Notes shall be issued in
lieu thereof except as expressly required or permitted by this Indenture. The
Indenture Trustee shall hold all such Senior Secured Notes until the
Indebtedness under the Senior Secured Notes shall have been paid or purchased in
full, at which time the Indenture Trustee shall either deliver such canceled or
assigned Senior Secured Notes in the manner necessary to effect the discharge
and release of this Indenture or, if no such delivery is necessary, shall
deliver such canceled or assigned Senior Secured Notes to the Borrower or its
assignee, as appropriate.

                                   ARTICLE 3

           REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE BORROWER

         The Borrower hereby represents and warrants to, and covenants with, the
Indenture Trustee, for the benefit of the Noteholders, as follows:

         SECTION 3.1. PERFORMANCE BY INDENTURE TRUSTEE. If an Indenture Event of
Default has occurred and is continuing, the Indenture Trustee, without notice to
the Borrower, may (but shall not be obligated to) make any payment or perform
(or cause to be performed) any obligation of the Borrower hereunder or under the
other Operative Agreements, in any form and manner deemed expedient by the
Indenture Trustee, and any amount so paid or incurred (plus reasonable
compensation to the Indenture Trustee for its out-of-pocket and other expenses
for each matter for which it acts under the Indenture or under the Security
Documents), with interest thereon at the Overdue Rate, will be added to the
Indebtedness under the Senior Secured Notes and will be paid to the Indenture
Trustee upon demand. Before taking such action the Indenture Trustee will first
give at least ten (10) Business Days' prior written notice to the Borrower,
unless (a) such obligation involves a failure to maintain required insurance or
(b) in the good faith judgment of the Indenture Trustee, immediate action is
required in order to protect the Facility or the Collateral from loss or damage,
or to remedy any imminent danger to the health, safety or property of any
Person, or to avoid any imminent risk of criminal or material civil liability,
in which cases no prior notice will be required. By way of illustration and not
in limitation of the foregoing, the Indenture Trustee may, upon the occurrence
and during the continuation of an Indenture Event of Default, do all or any of
the following: (i) make payments of principal or interest or other amounts on
any Lien, encumbrance or charge on the Facility or any of the Collateral; (ii)
make repairs; (iii) collect rents and give acquittances; (iv) prosecute
collection of the Collateral or proceeds thereof; (v) purchase, discharge,
compromise or settle any tax Lien or any other lien, encumbrance, suit,
proceeding, title or claim thereof; (vi) contest or settle any tax or
assessment; (vii) redeem from any tax sale or forfeiture affecting the Facility;
and (viii) perform any obligation under the Bond Lease, the Bond Sublease, the
Lease the Bond Indenture or any other Operative Agreement. In making any payment
or securing any performance relating to any obligation of the Borrower hereunder
or under the Security Documents, the Indenture Trustee will be the sole judge of
the legality, validity and amount of any Lien or encumbrance and of all other
matters necessary to be determined in satisfaction thereof. No such action of
the Indenture Trustee may be considered as a waiver of any right upon an
Indenture Event of Default.

                                     - 10 -

<PAGE>

         SECTION 3.2. SUBROGATION. To the extent that the Indenture Trustee pays
any sum under any provision of law or any instrument or document creating any
Lien or other interest prior or superior to the Lien of any of the Security
Documents and has the right to do so hereunder or under the Security Documents,
or the Borrower or any other Person pays any such sum with the proceeds of the
Senior Secured Notes secured thereby, then, to the extent permitted by law, the
Indenture Trustee will have and be entitled to a Lien or other interest on the
Collateral equal in priority to the Lien or other interest discharged and the
Indenture Trustee will be subrogated to, and receive and enjoy all rights and
Liens possessed, held or enjoyed by, the holder of such Lien, which will remain
in existence and benefit the Indenture Trustee, with priority over the Senior
Secured Notes.

         SECTION 3.3. FINANCIAL STATEMENTS; BOOKS AND RECORDS; INSPECTIONS. (a)
The Borrower shall deliver to each Noteholder:

                           (i)      Notice of Event of Default -- promptly, and
         in any event within five days after the Borrower becomes aware of the
         existence of any Event of Default or that any Person has given any
         notice or taken any action with respect to a claimed default hereunder,
         a written notice specifying the nature and period of existence thereof
         and what action the Borrower is taking or proposes to take with respect
         thereto;

                           (ii)     Litigation -- promptly, and in any event
         within five days after the Borrower becomes aware of any litigation,
         investigation or proceeding of or before any arbitrator or Governmental
         Authority is pending or threatened by or against the Borrower, a
         written notice setting forth the nature thereof and the action, if any,
         that the Borrower proposes to take with respect thereto;

                           (iii)    Notices from Governmental Authority --
         promptly, and in any event within five days of receipt thereof, copies
         of any notice to the Borrower from any federal or state Governmental
         Authority relating to any order, ruling, statute or other law or
         regulation which, individually or in the aggregate, could reasonably be
         expected to (x) have a material adverse effect on the assets,
         liabilities, operations, business, prospects or financial condition of
         the Borrower or on the Facility, (y) a material impairment of the
         ability of the Borrower to perform its obligations under this Indenture
         or any other Operative Agreement or (z) a material impairment of the
         rights of or benefits available to the Noteholders under this Indenture
         or any other Operative Agreement;

                           (iv)     Material Adverse Effect - promptly, and in
         any event within five days after the Borrower receives written notice
         of any event or condition which, individually or in the aggregate,
         could reasonably be expected to (x) have a material adverse effect on
         the assets, liabilities, operations, business, prospects or financial
         condition of the Borrower or on the Facility, (y) a material impairment
         of the ability of the Borrower to perform its obligations under this
         Indenture or any other Operative Agreement or (z) a material impairment
         of the rights of or benefits available to the Noteholders under this
         Indenture or any other Operative Agreement, a written notice

                                     - 11 -

<PAGE>

         setting forth the nature thereof and the action, if any, that the
         Borrower proposes to take with respect thereto; and

                           (v)      Requested Information -- with reasonable
         promptness, such other data and information relating to the business,
         operations, affairs, financial condition, assets or properties of the
         Borrower or relating to the ability of the Borrower to perform its
         obligations hereunder and under the Senior Secured Notes as from time
         to time may be reasonably requested by any such Noteholder.

                  (b)      The Borrower will keep adequate records and books of
account reflecting all its financial transactions.

                  (c)      During business hours and as often as the Indenture
Trustee or any Noteholder may reasonably request upon at least three (3)
Business Days' notice (except that in the case of an Indenture Event of Default,
no prior notice need be given), the Borrower shall allow the Indenture Trustee
or such Noteholder (or such Persons as the Indenture Trustee or such Noteholder
may designate), at the Indenture Trustee's or such Noteholder's expense, as the
case may be (except that in the case of an Indenture Event Default, any such
inspection shall be made at the expense of the Borrower), to visit and inspect
the Facility (subject to the provisions of the Lease) and to examine the records
and books of account of the Borrower, wherever such records and books of account
are located, and to discuss the affairs, finances and accounts of the Borrower
with its officers and accountants (and by this provision, the Borrower
authorizes such accountants to discuss the affairs, finances and accounts of the
Borrower). Neither the Indenture Trustee nor any of the Noteholders will have
any duty to make any such inspection, and the Borrower agrees that whether or
not the Indenture Trustee or any Noteholder makes any such inspection will not
limit any of the Indenture Trustee's or such Noteholder's rights or remedies, or
the Borrower's obligations, hereunder or under the Security Documents.

         SECTION 3.4. FURTHER ASSURANCES; RECORDING. (a) The Borrower will, at
its expense, do, execute, acknowledge and deliver or cause to be done, executed,
acknowledged and delivered all such further acts, instruments and assurances
reasonably required by the Indenture Trustee for the better granting to the
Indenture Trustee of the Borrower's interest in the Collateral granted or
intended to be granted by the Security Documents or for carrying out the
intention of, or facilitating the performance of, this Indenture.

         (b)      The Borrower will upon the execution and delivery hereof and
thereafter from time to time, cause the Security Documents to be duly filed,
registered and recorded, and will comply with all applicable statutes and
regulations, as may be required by law to establish and maintain the Lien of the
Security Documents as a valid first Lien of record on and a valid first
perfected security interest in the Collateral, subject to Permitted Liens, and
to establish, perfect, preserve and protect the rights of the parties thereto
and their respective successors and assigns. The Borrower will, from time to
time, perform or cause to be performed any other act as required by law, and
will execute or cause to be executed any and all further instruments (including
financing statements, continuation statements and similar statements with
respect to any of said documents) reasonably requested by the Indenture Trustee
or any Noteholder, for such purposes. If the

                                     - 12 -

<PAGE>

Borrower shall fail to comply with this Section 3.4, the Indenture Trustee will
be and is hereby irrevocably appointed the agent and attorney-in-fact of the
Borrower, with full power of substitution in the Borrower's name and on its
behalf, to comply therewith (including the execution, delivery and filing of
such financing statements, continuation statements and other instruments), but
the Indenture Trustee's actions as such will not be deemed to prevent, or to
have cured, any default under this Section 3.4. The Borrower will pay, or will
cause the Lessee to pay, all recording taxes and fees incident to or in
connection with the preparation, execution, delivery or acknowledgment of the
Security Documents, any instruments of further assurance and the Senior Secured
Notes.

         SECTION 3.5 PAYMENT OF OBLIGATIONS; RENT. (a) The Borrower will pay and
perform, timely and in the manner required in the appropriate documents or
instruments, all obligations in respect of the Senior Secured Notes. The
Borrower will not claim any credit on, or make any deduction from interest,
principal or Make Whole Premium, if any, payable on the Senior Secured Notes by
reason of payment of any Rent or other amount payable with respect to, or levied
or assessed or to be levied or assessed on, the Collateral or any part thereof
or the Borrower's interest therein. The Borrower's payment obligations under
this Indenture are independent of any obligations under any of the other
Operative Agreements and may be satisfied only upon payment in full of all
amounts due and payable under the Senior Secured Notes and this Indenture.

         (b)      Without limiting the generality of the foregoing and subject
to Section 3.5(c), the Borrower will pay (i) all taxes, levies, impositions and
other charges imposed on, assessed, or levied upon the Borrower, and (ii) all
income, excess profits, sales, gross receipts and other taxes, duties or
imposts, whether similar or not in nature, assessed, levied or imposed by any
Governmental Authority on the Borrower. Nothing in this Section 3.5 will require
the payment by the Borrower of any net income or franchise or similar tax of the
Noteholders or the Lessee.

         (c)      The Borrower may, at its own expense, contest or cause to be
contested (in the case of any item involving more than $100,000, after prior
written notice to the Indenture Trustee and the Noteholders) by appropriate
legal proceedings conducted in good faith and with due diligence, the existence,
amount or validity or application, in whole or in part, of any item specified in
Section 3.5(b) or Lien therefor; provided that such contest will not (i) operate
to suspend during the pendency thereof the collection of, or other realization
upon, any Rent or other amount derived from, or payable with respect to, (A) the
Facility or (B) any interest in the Facility and the other properties and rights
included in the Collateral, or (ii) (v) subject the Rent under the Lease or any
other part of the Collateral to loss, forfeiture or sale, (w) adversely affect
the Lien of the Security Documents or any part of the Collateral, (x) interfere
with the possession, use or occupancy of the Facility, (y) interfere with the
due payment of any amount payable hereunder or under the Senior Secured Notes,
or (z) subject the Indenture Trustee or the Noteholders to the risk of any civil
or criminal liability.

         SECTION 3.6. TRANSFER TAXES; FILINGS; LIEN TAXES. (a) To the extent the
laws of any state within which any portion of the Collateral is located require
a transferee of real property or an interest therein to withhold from the
transferor and remit to the taxing authorities of such state

                                     - 13 -

<PAGE>

any portion of the consideration paid therefor, or to demonstrate entitlement to
any exemption from such withholding, the Borrower has complied fully with such
requirements.

         (b)      If any Legal Requirement at any time provides for any
deduction from the value of the Collateral in connection with any impositions on
the Lien of the Security Documents or changes in any way the laws for taxation
of any Indebtedness secured thereby or the manner of collection of any such
impositions so as to impose any Impositions upon or otherwise affecting this
Indenture, and if such impositions are payable by the Indenture Trustee or any
Noteholder, the Borrower shall pay or cause to be paid to the Indenture Trustee
or such Noteholder, as the case may be, the amount of all such impositions
before such impositions are due.

         SECTION 3.7. EXISTENCE; GOVERNMENTAL REQUIREMENTS. The Borrower will at
all times maintain its existence. The Borrower will at all times keep in full
force and effect all of its franchises, rights, permits, licenses and consents
as may be required by any Governmental Authority for the conduct of its business
and the ownership, leasing, mortgaging and encumbering of the Collateral. Unless
required by the Legal Requirements or permitted to be made by the Lessee without
the Borrower's consent under the Lease, or unless the Required Holders will have
otherwise first agreed in writing, the Borrower will not make or allow any
changes to be made in the nature of the currently contemplated occupancy or use
of the Facility or any portion thereof. The Borrower will not initiate or
acquiesce in any change in any zoning or other land use classification now or
hereafter in effect and affecting the Facility or any part thereof without in
each case obtaining the prior written consent of the Required Holders. The
Borrower will comply with or cause to be complied with in all material respects
(a) every Legal Requirement applicable to the Collateral or to the Borrower and
(b) every material contract, agreement or other instrument applicable to the
Collateral or the ownership, occupancy or use of the Facility or to the
Borrower. Notwithstanding the foregoing, the Borrower will have the right to
diligently contest any Legal Requirement so long as such contest will not (i)
operate to suspend during the pendency thereof the collection of, or other
realization upon, any Rent or other amount derived from, or payable with respect
to, (A) the Facility or (B) any interest in the Facility and the other
properties and rights included in the Collateral, or (ii) (v) subject the Rent
under the Lease or any other part of the Collateral to loss, forfeiture or sale,
(w) adversely affect the Lien of the Security Documents or any part of the
Collateral, (x) interfere with the possession, use or occupancy of the Facility,
(y) interfere with the due payment of any amount payable hereunder or under the
Senior Secured Notes, or (z) subject the Indenture Trustee or the Noteholders to
the risk of any civil or criminal liability.

         SECTION 3.8. SECURITY INTEREST IN THE BONDS. The Indenture Trustee is
and at all times will be a registered pledgee of the Bonds and of the Bond
Documents. The Indenture Trustee has and at all times will have a first priority
Lien on the Bonds, subject to no other Liens.

         SECTION 3.9. REPRESENTATIONS, WARRANTIES AND COVENANTS IN THE OPERATIVE
AGREEMENTS. All of the representations, warranties and covenants made by the
Borrower in each of the other Operative Agreements are hereby incorporated
herein by reference thereto and affirmed by the Borrower.

                                     - 14 -

<PAGE>

                                    ARTICLE 4

       REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE INDENTURE TRUSTEE

         SECTION 4.1. REPRESENTATIONS AND WARRANTIES OF THE INDENTURE TRUSTEE.
State Street Bank and Trust Company of Missouri, N.A., in its individual
capacity and as the Indenture Trustee, represents and warrants, as of the date
hereof, to each of the other parties as follows:

                  (a)      State Street Bank and Trust Company of Missouri, N.A.
is a national banking association duly organized, validly existing and in good
standing under the laws of the United States of America, and has the corporate
power and authority to enter into and perform its obligations under the
Operative Agreements to which it is a party.

                  (b)      This Indenture and each of the Operative Agreements
to which State Street Bank and Trust Company of Missouri, N.A. is a party (as
the Indenture Trustee and, to the extent expressly so provided therein, in its
individual capacity) have been duly authorized by all necessary corporate action
on the part of State Street Bank and Trust Company of Missouri, N.A. and have
been duly executed and delivered by State Street Bank and Trust Company of
Missouri, N.A. (as the Indenture Trustee or in its individual capacity, as the
case may be), and the execution, delivery and performance hereof and thereof do
not (i) require any approval of the stockholders of State Street Bank and Trust
Company of Missouri, N.A. or any approval or consent of any trustee or holders
of any Indebtedness or obligations of State Street Bank and Trust Company of
Missouri, N.A.; (ii) require any Governmental Action to be taken by State Street
Bank and Trust Company of Missouri, N.A. (as the Indenture Trustee or in its
individual capacity, as the case may be) with respect to any Governmental
Authority of the United States of America governing the banking, trust or
fiduciary powers of State Street Bank and Trust Company of Missouri, N.A. or by
any such Governmental Authority; (iii) contravene any Legal Requirement of the
United States of America, or any rule or regulation thereunder, governing the
banking, trust or fiduciary powers of State Street Bank and Trust Company of
Missouri, N.A. or any order or judgment applicable to or binding on it; or (iv)
contravene or result in any breach of or constitute any default under the
charter or by-laws of State Street Bank and Trust Company of Missouri, N.A. or
any indenture, mortgage, loan agreement, lease or other agreement or instrument
to which State Street Bank and Trust Company of Missouri, N.A. is a party or by
which any of its properties is bound.

                  (c)      This Indenture and, to the extent that State Street
Bank and Trust Company of Missouri, N.A. is a party thereto in its individual
capacity, the Operative Agreements constitute the legal, valid and binding
obligations of State Street Bank and Trust Company of Missouri, N.A. enforceable
against it in accordance with their respective terms, except as may be limited
by bankruptcy, insolvency, reorganization, moratorium or other similar laws
affecting the enforcement of the rights of creditors, mortgagees or lessors in
general and by general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law).

                                     - 15 -

<PAGE>

                  (d)      There is no action, suit or proceeding pending or, to
the best knowledge of State Street Bank and Trust Company of Missouri, N.A.,
threatened against State Street Bank and Trust Company of Missouri, N.A. (as the
Indenture Trustee or in its individual capacity) before or by any Governmental
Authority that questions the validity or enforceability of this Indenture or any
other Operative Agreement to which State Street Bank and Trust Company of
Missouri, N.A. (either in its individual capacity or as the Indenture Trustee)
is a party or that could reasonably be expected to materially adversely affect
the ability of State Street Bank and Trust Company of Missouri, N.A. (either in
its individual capacity or as the Indenture Trustee) to perform its obligations
under the Operative Agreements to which State Street Bank and Trust Company of
Missouri, N.A. (as the Indenture Trustee or in its individual capacity) is a
party.

                  (e)      The execution, delivery and performance by State
Street Bank and Trust Company of Missouri, N.A. (as the Indenture Trustee or in
its individual capacity) of the Operative Agreements to which it is a party will
not subject the Collateral, or any portion thereof, to any Indenture Trustee's
Lien.

                  (f)      State Street Bank and Trust Company of Missouri, N.A.
has not (either in its individual capacity or as Indenture Trustee), nor has
reason to believe that any Person authorized to act on its behalf (in either
such capacity) has, directly or indirectly offered any interest in any of the
Collateral or the Senior Secured Notes or any similar security for sale to, nor
solicited offers to buy any of the same from, or otherwise approached or
negotiated with respect to any of the same with, any Person, nor has taken, nor
will take, any action that would subject the issuance or sale of the Senior
Secured Notes to the registration requirements of Section 5 of the Securities
Act.

         SECTION 4.2. COVENANTS OF THE INDENTURE TRUSTEE. State Street Bank and
Trust Company of Missouri, N.A., as the Indenture Trustee and in its individual
capacity, covenants and agrees with each of the other parties as follows:

                  (a)      State Street Bank and Trust Company of Missouri, N.A.
shall not, directly or indirectly, create, incur, assume or suffer to exist, and
at its own cost and expense (without any right of indemnity under this Indenture
or any other Operative Agreement) shall promptly take such action as may be
necessary duly to discharge, any Indenture Trustee's Lien. State Street Bank and
Trust Company of Missouri, N.A. (in its individual capacity) shall indemnify on
an After Tax Basis and hold harmless the Borrower and the Noteholders and their
respective successors, assigns, servants and agents against any and all damages,
losses, costs, expenses and liabilities (including attorneys' fees and
expenses), of any kind whatsoever, and any reduction in the amount payable out
of the Collateral or in respect of any Senior Secured Notes, imposed on,
incurred by or asserted against any of the foregoing in respect of the
imposition, enforcement or removal of any Indenture Trustee's Lien.

                                     - 16 -

<PAGE>

                                    ARTICLE 5

                  POSSESSION, USE AND RELEASE OF THE COLLATERAL

         SECTION 5.1. CONDEMNATION AND CASUALTY. (a) Upon the occurrence and
during the continuation of an Indenture Event of Default, the Indenture Trustee
may participate in any proceedings relating to any Casualty or Condemnation, and
the Borrower shall deliver all instruments reasonably requested by the Indenture
Trustee to permit such participation. In any such proceeding, the Indenture
Trustee may be represented by its own counsel.

                  (b)      Any insurance proceeds, awards or compensation (other
than in respect of Excepted Payments) with respect to the Collateral and payable
or assigned to the Borrower by any Person are hereby assigned to and shall be
paid to the Indenture Trustee, subject to the rights thereto of the Lessee
pursuant to the Lease and the rights thereto of the Borrower hereunder and under
the Security Documents. Any proceeds, awards or compensation so assigned to and
received by the Indenture Trustee shall be held as part of the Collateral and be
invested and applied as provided in Article 6.

         SECTION 5.2. MONEYS RECEIVED BY THE INDENTURE TRUSTEE. All payments and
deposits received by the Indenture Trustee pursuant to this Indenture shall
become part of the Collateral and shall be applied pursuant to Article 6.

         SECTION 5.3. INDENTURE TRUSTEE'S RIGHTS TO ACT. (a) Upon the occurrence
and during the continuation of an Indenture Event of Default, the Indenture
Trustee shall have the right and power (which right and power are coupled with
an interest), and is hereby irrevocably appointed the agent and attorney-in-fact
of the Borrower and of any and every future assignee or owner of the Facility or
any portion thereof, to take all actions necessary or appropriate to comply with
the applicable provisions of the Lease, including the execution and delivery, in
the name and on behalf of the Borrower or other assignee or owner of the
Facility or any portion thereof, of a deed or other instrument of conveyance or
assignment, conveying and assigning the Facility to the Lessee or other Person
or its designee pursuant to the Lease.

                  (b)      Each deed or other instrument of conveyance or
assignment executed and delivered by the Indenture Trustee pursuant to this
Section 5.3 shall be binding upon the Borrower and every future owner of the
Facility with the same effect as if the Borrower and every such owner had
personally executed and delivered the same, and so long as the Security
Documents have not been released pursuant to Section 5.4, every such owner by
receipt or acquisition of any right, title or interest in the Facility hereby
irrevocably appoints the Indenture Trustee as its agent and attorney-in-fact
with the power and authority (which power and authority are coupled with an
interest) to execute and deliver such deeds or other instruments of conveyance
or assignment in its behalf and name upon the occurrence and during the
continuation of an Indenture Event of Default.

                                     - 17 -

<PAGE>

                  (c)      The discretionary rights of the Indenture Trustee
under this Indenture shall not be construed as duties and the Indenture Trustee
shall not be required to take any discretionary action unless directed by the
Required Holders.

         SECTION 5.4. RELEASE; NO PARTIAL RELEASES. Upon the Indenture Trustee's
receipt at any time of payment in full of all of the Indebtedness under the
Senior Secured Notes, the Security Documents shall terminate and the Indenture
Trustee, at the Borrower's expense, shall take such action and execute and
deliver such documents and instruments as shall be reasonably required to
release the Lien of the Security Documents with respect to all of the
Collateral. Except as otherwise provided in Article 6, no Collateral shall be
released for so long as any Series of Senior Secured Notes shall remain
Outstanding.

                                    ARTICLE 6

                        RECEIPT AND APPLICATION OF MONEYS

         SECTION 6.1. RECEIPT OF MONEYS, (a) The Indenture Trustee shall receive
and collect all payments under the Bonds, whether attributable to Basic Rent,
Supplemental Rent or any other amount payable under the Bond Lease, the Bond
Sublease or the Lease (other than the Excepted Payments and Supplemental Rent
payable to Persons other than the Board, the Bond Sublessor, the Borrower or the
Investor), and all other moneys paid to the Indenture Trustee with respect to
the Facility or any other properties or rights included in the Collateral or
under the Guarantee or the Other Operative Agreements, and the Indenture Trustee
shall hold and disburse the same pursuant to this Indenture. The Indenture
Trustee may demand and enforce payment thereof and may take such other action as
it deems necessary or advisable in connection therewith (to the extent not
inconsistent with the provisions of the Operative Agreements). The Indenture
Trustee shall in no event be required to advance funds and shall only be
required to make payment to the Noteholders or any other Person to the extent
funds are available therefor in the account established pursuant to this
Indenture for receipt and collection of such moneys.

         (b)      During the Construction Period, the Indenture Trustee shall
receive and collect (by virtue of payments of interest on the Bonds as
disbursements under the Escrow Agreement) interest on the Original Notes and the
Investor Yield and shall cause the application and distribution thereof in
accordance with Section 6.2(a).

         SECTION 6.2. MONEYS ATTRIBUTABLE TO THE LEASE. Moneys received by the
Indenture Trustee pursuant to Section 6.1 (a) shall, except as otherwise
provided in this Article 6, be applied as follows:

                  (a)      BASIC RENT AND SUPPLEMENTAL RENT

                           Except to the extent any moneys are attributable to
Excepted Payments, the Termination Value, the Maximum Residual Guarantee Amount,
the Construction Termination Amount, Net Proceeds or any similar amount, all of
which shall be applied pursuant to Section 6.2(b), each payment under the Bonds
attributable to Basic Rent and Supplemental Rent

                                     - 18 -

<PAGE>

received by the Indenture Trustee shall be (i) applied immediately, in the case
of any payment which is overdue under the Senior Secured Notes or the Investor
Contribution, and (ii) otherwise, applied on the Payment Date occurring on or
immediately after the date such payment is received, first, to the payment on
such date of the interest then due and payable on the Senior Secured Notes,
allocated among the Senior Secured Notes in direct relation to their Outstanding
principal balances, second, so long as (x) no Independent Event of Default shall
have occurred and be continuing and (y) no Series of Senior Secured Notes shall
have been accelerated, to the payment of the Investor Yield, and third, so long
as no Indenture Event of Default or Indenture Payment Default shall have
occurred and be continuing, the excess, if any, shall be paid on such date to
the Lessee or upon its written order, free of the Lien of the Security
Documents.

                  (b)      TERMINATION AMOUNTS

                  So long as no Indenture Event of Default or Indenture Payment
Default has occurred and is continuing:

                           (i)      Moneys (other than Excepted Payments)
received by the Indenture Trustee on the account of the Bonds attributable to
the Termination Value pursuant to Section 10.1 or 3.6 of the Lease or Section
8.2(b)(i) of the Facility Agency Agreement shall be applied, on the date of
receipt thereof, but after the payment of any interest on the Senior Secured
Notes and any Investor Yield then due and payable, first, to the payment of the
outstanding principal of the Senior Secured Notes, together with accrued and
unpaid interest thereon to the payment date, allocated among the Senior Secured
Notes in direct relation to their Outstanding principal balances, second, to the
payment of all other amounts then due and owing under the Senior Secured Notes,
third, to the payment of the Make Whole Premium (except in the case of
prepayments made pursuant to Section 3.6 of the Lease), fourth, to the payment
of the Investor Contribution, fifth, to the payment of any applicable Investor
Premium, and sixth, to the Lessee or upon its written order, free of the Lien of
the Security Documents.

                           (ii)     Moneys (other than Excepted Payments)
received by the Indenture Trustee on the account of the Bonds attributable to
the Maximum Residual Guarantee Amount pursuant to Section 10.2 of the Lease or
the Construction Termination Amount pursuant to Section 8.2(b)(ii) of the
Facility Agency Agreement shall be applied, on the date of receipt thereof, but
after the payment of any interest on the Senior Secured Notes and any Investor
Yield then due and payable, first, to the payment of the outstanding principal
of the Senior Secured Notes, together with accrued and unpaid interest thereon
to the payment date (for the payment of which, during the Construction Period,
the Indenture Trustee shall first draw Escrowed Funds (to the extent available)
pursuant to the Escrow Agreement, including the Standing Orders), allocated
among the Senior Secured Notes in direct relation to their Outstanding principal
balances, second, to the payment of all other amounts then due and owing under
the Senior Secured Notes allocable to the principal amount of the Senior Secured
Notes then being paid pursuant to clause first and third, to the payment of the
Make Whole Premium (in the case of an election under Section 8.2(b)(ii) of the
Facility Agency Agreement) in the same proportions as provided in clause first.

                                     - 19 -

<PAGE>

                           (iii)    Moneys received by the Indenture Trustee
from the Insurer under the Residual Value Policy or the Construction Termination
Policy shall be applied, on the date of receipt thereof, first, to the payment
of the outstanding principal of the Senior Secured Notes, together with accrued
and unpaid interest thereon to the payment date (for the payment of which,
during the Construction Period, the Indenture Trustee shall first draw Escrowed
Funds (to the extent available) pursuant to the Escrow Agreement, including the
Standing Orders), allocated among the Senior Secured Notes in direct relation to
their Outstanding principal balances, second, to the payment of all other
amounts then due and owing under the Senior Secured Notes allocable to the
principal amount of the Senior Secured Notes then being paid pursuant to clause
first and third, to the payment of the Make Whole Premium (in the case of an
election under Section 8.2(b)(ii) of the Facility Agency Agreement) in the same
proportions as provided in clause first.

                           (iv)     Moneys (other than Excepted Payments)
received by the Indenture Trustee as the proceeds from the sale of the Facility
sold pursuant to Section 10.3 of the Lease or by the Borrower or the Indenture
Trustee, as the case may be, upon the Lessee's surrendering the Facility
pursuant to Section 8.2(b)(ii) of the Facility Agency Agreement shall be
applied, on the date of receipt thereof, but after the payment of any interest
on the Senior Secured Notes and any Investor Yield then due and payable, first,
to the payment of all reasonable costs and expenses incurred by the seller of
the Facility in connection with such sale, second, to the payment of the
Outstanding principal of the Senior Secured Notes, together with accrued and
unpaid interest thereon (for the payment of which, during the Construction
Period, the Indenture Trustee shall first draw Escrowed Funds (to the extent
available) pursuant to the Escrow Agreement, including the Standing Orders),
allocated among the Senior Secured Notes in direct relation to their Outstanding
principal balances, third, to the payment of all other amounts then due and
owing under the Senior Secured Notes, fourth, to the payment of the Make Whole
Premium (in the case of an election under Section 8.2(b)(ii) of the Facility
Agency Agreement) in the same proportions as provided in clause second, fourth,
to the payment of the Investor Contribution fifth, to the payment of any
applicable Investor Premium, and sixth, to the Lessee or upon its written order,
free of the Lien of the applicable Security Documents.

                           (v)      Whenever the foregoing provisions of this
Section 6.2(b) require the Indenture Trustee to apply moneys received by it to
the payment of the Outstanding principal of the Senior Secured Notes, together
with the accrued and unpaid interest thereon, such moneys shall first be applied
to the payment of such accrued and unpaid interest (for the payment of which,
during the Construction Period, the Indenture Trustee shall first draw Escrowed
Funds (to the extent available) pursuant to the Escrow Agreement, including the
Standing Orders) and then to the payment of such Outstanding principal. Whenever
the foregoing provisions of this Section 6.2(b) require the Indenture Trustee to
apply moneys received by it to the payment of the Investor Contribution,
together with the accrued and unpaid Investor Yield, such moneys shall first be
applied to the payment of such accrued and unpaid Investor Yield and then to the
payment of the Investor Contribution.

                                     - 20 -

<PAGE>

                  (c)      DISTRIBUTION AFTER DEFAULT

                           If, at the time of receipt by the Indenture Trustee
of any moneys (other than Excepted Payments) pursuant to Section 6.l(a), there
shall have occurred and be continuing an Indenture Event of Default or Indenture
Payment Default, then the Indenture Trustee shall retain such moneys (but after
the application thereof to the payment of any amount then due and owing to the
Indenture Trustee or otherwise secured by the Security Documents), as part of
the Collateral solely for the benefit of the Noteholders and shall not
distribute anything to the Borrower or the Lessee except as follows:

                           (i)      at such time as there shall not be
continuing any Independent Event of Default and all amounts then due and payable
by the Borrower under the Operative Agreements shall have been indefeasibly paid
in full, the moneys available to pay amounts due and payable to the Investor
shall be distributed to it or upon its written notice, free of the Lien of the
Security Documents;

                           (ii)     at such time as there shall not be
continuing any Indenture Event of Default or Indenture Payment Default and all
amounts then due and payable by the Borrower and/or the Lessee under the
Operative Agreements shall have been indefeasibly paid in full, the remainder of
the moneys shall be distributed to the Lessee or upon its written notice, free
of the Lien of the Security Documents, and

                           (iii)    at such time as the Senior Secured Notes
shall have been declared, or shall have become, due and payable pursuant to
Section 8.2(b), all such moneys shall be distributed pursuant to Section 8.2(f).

                  (d)      PROCEEDS OF INSURANCE; CONDEMNATION AWARDS

                           All Net Proceeds (other than the Excepted Payments)
received by the Indenture Trustee under any policy of insurance and from
self-insurance with respect to matters otherwise covered by property insurance
and all Net Proceeds received by the Indenture Trustee as awards or compensation
with respect to a Condemnation shall be held by the Indenture Trustee as part of
the Collateral and be applied as follows:

                           (i)      All such Net Proceeds received or payable
pursuant to Section 8.1 or 8.2 of the Lease, together with the net amount of
investment earnings on the total of such Net Proceeds, shall be applied in
accordance with Section 6.2(b)(i) if the Lessee makes an offer to purchase the
Facility in accordance with Section 3.6 of the Lease.

                           (ii)     All such Net Proceeds received on account of
any other Casualty or Condemnation, together with the net amount of investment
earnings on such Net Proceeds, shall be applied in accordance with clauses (i)
through (iv), inclusive, of Section 8.1 of the Lease and Section 8.2(b) of the
Lease.

                                     - 21 -

<PAGE>

                  (e)      CASUALTY INSURANCE PROCEEDS

                           Subject to Section 8. l(a) of the Lease, moneys
received by the Indenture Trustee under any policy of casualty insurance and
from self-insurance with respect to matters otherwise covered by casualty
insurance shall be paid to the respective parties suffering the injury, loss,
damage or liability with respect to which such payment is made.

                  (f)      MONEYS UNDER THE GUARANTEE

                           Moneys received by the Indenture Trustee under the
Guarantee with respect to any Guaranteed Obligations shall be applied in
accordance with the provisions of this Section 6.2 to which such Guaranteed
Obligations relate.

                  (g)      MINOR RELEASES

                           (i)      Upon the removal of any Modifications (or
any part thereof) pursuant to Section 7.2 of the Lease and the replacement
thereof in accordance with Section 7.2 of the Lease, such Modifications so
removed shall be automatically (and without the necessity for any further act)
released from the Lien of the Security Documents and the replacement
Modifications shall automatically become part of the Collateral.

                           (ii)     Moneys received by the Indenture Trustee, if
any, representing payments under any warranty or other claims against dealers,
manufacturers, vendors, contractors and subcontractors relating to the
Collateral shall be delivered to the Lessee so long as no Lease Event of Default
is continuing under the Lease and no Senior Secured Notes shall be due and
payable under Section 7.2 or 8.2(b).

                  (h)      REMITTANCE TO THE LESSEE

                  Except as otherwise provided in this Section 6.2, the
Indenture Trustee hereby agrees that the Indenture Trustee shall remit to the
Lessee the amount of excess, if any, of the moneys (other than the Excepted
Payments) received by the Indenture Trustee on any Payment Date over the amounts
due and payable to the Noteholders, the Indenture Trustee, the Trust Company or
the Investor on such date; provided, however, that immediately before and after
giving effect to such remittance, no Indenture Event of Default or Indenture
Payment Default shall have occurred and be continuing.

         SECTION 6.3. MONEYS HELD IN COLLATERAL; INVESTMENTS. Moneys from
whatever source received (whether as payments or deposits) by the Indenture
Trustee pursuant to any provision of this Indenture shall be held as part of the
Collateral in trust, pending application thereof in accordance with the other
provisions of this Article 6. Such moneys held by the Indenture Trustee (i)
shall be segregated from the other assets owned or managed by the Indenture
Trustee, and (ii) shall be promptly invested or reinvested in the SSgA U.S.
Treasury Money Market Fund or such other Permitted Investments as the Borrower
shall specify in writing from time to time; provided, however, that the
Indenture Trustee shall not be responsible for any loss incurred in

                                     - 22 -

<PAGE>

connection with such investment or reinvestments, and, if an Indenture Event of
Default or Indenture Payment Default has occurred and is continuing, the
Indenture Trustee shall be free (without notice to or approval by the Borrower)
to invest in the SSgA U.S. Treasury Money Market Fund as may be appropriate (in
its absolute discretion) in connection with exercising its remedies hereunder.
All such investments and the proceeds of the sale or payment thereof and all
other income resulting from such investments shall be held and applied by the
Indenture Trustee (except as may be otherwise expressly provided herein) for the
same purposes as the funds used to make such investments. The Indenture Trustee
shall sell all or any designated part of such securities if (i) so directed in
writing by the Borrower (so long as no Indenture Event of Default or Indenture
Payment Default has occurred and is continuing) or (ii) at any time the proceeds
thereof are required for any application authorized pursuant to this Indenture.
If such sale (or any payment at maturity) produces a net sum greater than the
cost (including accrued interest paid as such) of the securities so sold or
paid, the Indenture Trustee shall, so long as no Indenture Event of Default or
Indenture Payment Default shall have occurred and be continuing, pay the excess,
if any, available on the next Payment Date to the Lessee, subject to the other
provisions of this Indenture. Any and all investments held by the Indenture
Trustee shall, unless in bearer form, be registered and held in the name of the
Indenture Trustee or its nominee.

         SECTION 6.4. OTHER PAYMENTS. So long as no Indenture Default or
Indenture Event of Default shall have occurred and be continuing, any amounts
received by the Indenture Trustee for which the Indenture Trustee reasonably
determines that no provision as to the application thereof is made in this
Indenture shall be remitted promptly by the Indenture Trustee to the Lessee or
upon its written order, free of the Lien of the Security Documents.

         SECTION 6.5. RELEASE OF LIEN. Upon the Indenture Trustee's payment,
distribution, remittance or release to the Borrower or the Lessee of any moneys
received or held by the Indenture Trustee in respect of the Collateral, such
moneys shall be automatically released from the Lien of the applicable Security
Documents, without limiting the obligation of the Borrower and of the Lessee to
pay over to the Indenture Trustee all cash and other property required pursuant
to this Indenture to be part of the Collateral and subject to the Lien of the
Security Documents.

                                    ARTICLE 7

                                   PREPAYMENT

         SECTION 7.1. GENERALLY. No prepayment of any Senior Secured Note may be
made except to the extent and in the manner expressly permitted or required by
this Indenture.

         SECTION 7.2. MANDATORY PREPAYMENT. (a) The principal of the Senior
Secured Notes, together with the accrued interest and the Make Whole Premium (if
any) thereon, shall be subject to mandatory prepayment as follows:

                                     - 23 -

<PAGE>

                  (i)      In connection with the occurrence of an Event of Loss
and the Lessee's purchase of the Facility in accordance with Section 3.6 of the
Lease, the entire principal amount of the then Outstanding Senior Secured Notes,
together with all accrued and unpaid interest thereon to the payment date, but
without any Make Whole Premium, shall become due and payable on the termination
date specified in the Lease.

                  (ii)     In connection with receipt by the Indenture Trustee
of any written notice from the Lessee of its intention to purchase the Facility
or the Borrower's interest in the Facility pursuant to the Purchase Option under
Section 10.1 of the Lease, the entire principal amount of the then Outstanding
Senior Secured Notes, together with all accrued and unpaid interest thereon to
the payment date and the Make Whole Premium, shall become due and payable on the
Purchase Date.

                  (iii)    If the Completion Date does not occur on or prior to
the Outside Completion Date, the entire principal amount of the then Outstanding
Senior Secured Notes, together with all accrued and unpaid interest thereon to
the payment date and the Make Whole Premium, shall become due and payable on the
Outside Completion Date, unless this prepayment event is waived by the Required
Holders.

                  (b)      Any payments made to the Indenture Trustee in
connection with any of the events described in this Section 7.2(a) shall be
applied to the prepayment of the Senior Secured Notes as provided in Section
6.2(b). Upon the acceleration of the maturity of any of the Senior Secured Notes
pursuant to Section 8.2(b), any moneys paid in connection therewith shall be
applied to the payment of such Senior Secured Notes as provided in Section
8.2(f).

         SECTION 7.3. NOTICE OF PREPAYMENT; DEPOSIT OF MONEYS. In case of any
prepayment of the Senior Secured Notes pursuant to Section 7.2(a), the Borrower
shall give to the Indenture Trustee written notice not fewer than ten (10) days
prior to the scheduled prepayment date. Such notice shall specify the scheduled
prepayment date, the amount of accrued and unpaid interest on the Senior Secured
Notes, the Investor Yield and the amount of the Make Whole Premium and the
Investor Premium to be paid, if any. On or prior to 11:00 a.m., New York City
time, on the scheduled prepayment date, the Borrower shall deposit immediately
available funds, sufficient to make such prepayment, with the Indenture Trustee.

                                    ARTICLE 8

                      INDENTURE EVENTS OF DEFAULT; REMEDIES

         SECTION 8.1. INDENTURE EVENTS OF DEFAULT. The term "INDENTURE EVENT OF
DEFAULT", wherever used herein, shall mean any of the following events, and any
such event shall continue to be an Indenture Event of Default until remedied:

                  (a)      any default in the payment of any principal or the
Make Whole Premium, if any, on any of the Senior Secured Notes, the Investor
Contribution or any Investor Premium,

                                     - 24 -

<PAGE>

when and as the same shall become due and payable, whether at maturity, by
acceleration or any prepayment or otherwise, as provided in the Senior Secured
Notes and this Indenture; or

                  (b)      any default in the payment of interest on, or any
other amount under, the Senior Secured Notes or this Indenture or Investor Yield
or any other amount with respect to the Investor Contribution, when and as the
same shall become due and payable, and such default shall have continued for
three days; or

                  (c)      any representation or warranty of the Borrower set
forth in any Operative Agreement or in any certificate delivered pursuant
thereto was incorrect in any material respect when made; or

                  (d)      any default by the Borrower in the due observance or
performance of any covenant, condition or agreement contained in Section 8.2 of
the Participation Agreement; or

                  (e)      any default in the due observance or performance of
any other covenant, condition or agreement of the Borrower contained herein or
in any other Operative Agreement and such default shall have continued for
thirty (30) days after the Borrower shall have been given a notice specifying
such default or should have become aware of such default; provided that such
30-day period shall be extended (up to a maximum period of 180 days) as to
defaults which cannot be cured with the payment of money but are curable, though
not reasonably capable of cure within such 30-day period, so long as the
Borrower has commenced to cure such default prior to the end of such 30-day
period and diligently prosecutes such cure to completion and such extension,
individually or in the aggregate, could not reasonably be expected to have a
Material Adverse Effect; or

                  (f)      (i) a Lease Event of Default, (ii) an Agency
Agreement Event of Default, (iii) an event of default under the Escrow Agreement
or (iv) a Bond Event of Default shall have occurred and be continuing; or

                  (g)      a custodian (or similar official) for purposes of any
federal bankruptcy statute of substantially all of the property of the Borrower,
the Board, the Bond Sublessor, the Lessee or any other Person then owning any
interest in the Facility or any other property included in the Collateral, or of
any of such Persons, is appointed or otherwise takes possession thereof or a
receiver, United States Trustee, trustee or liquidator (or other similar
official) of any of the property included in the Collateral or of any such
Person, or of any such Person, shall be appointed in any bankruptcy or similar
proceeding or by any federal or state officer or agency and shall not be
discharged within sixty (60) days after such appointment or any such Person
shall by any act indicate its approval of, consent to or acquiescence in such
appointment or by decree of any court shall be adjudicated a bankrupt under any
state or federal bankruptcy law or be declared insolvent; or

                  (h)      the Borrower, the Board, the Bond Sublessor, the
Lessee or any other Person then owning any interest in the Facility or any other
property included in the Collateral shall be dissolved, or any such Person shall
file a petition commencing a voluntary case under any federal bankruptcy or
similar law or in bankruptcy or for reorganization or for an arrangement

                                     - 25 -
<PAGE>

pursuant to any state bankruptcy or similar law or shall make an assignment for
the benefit of its creditors or shall admit in writing its inability to pay its
debts generally as they become due or shall consent to the appointment of a
receiver of any substantial portion of its properties; or a petition or any
answer proposing or an application for the reorganization of such Person
pursuant to the Bankruptcy Code or any similar law, federal or state, shall be
filed in, any court and any such Person shall by any act indicate its approval
thereof, consent thereto or acquiescence therein; or

                  (i)      the Borrower, the Board, the Bond Sublessor, the
Lessee or any other Person then owning any interest in the Facility or any other
property included in the Collateral shall generally not pay its debts as such
debts become due or if an involuntary case against any such Person, as debtor,
is commenced by a petition for reorganization or liquidation under any federal
bankruptcy or similar law, federal or state, and if such petition shall not be
discharged, stayed or denied within sixty (60) days after the date on which such
petition was filed; or

                  (j)      a judgment, decree, writ, warrant of attachment or
similar process in an amount equal to or exceeding $500,000 is entered against
the Borrower or the Facility, if such judgment, decree, writ, warrant of
attachment or similar process is not adequately covered by insurance or has not
been satisfied, vacated, discharged, appealed from (with execution or similar
process continuously stayed) within thirty (30) days of such judgment's entry;

                  (k)      the Guarantor shall fail to perform or observe any
covenant or agreement of the Guarantor set forth in the Guarantee, or the
Guarantee shall not be in full force and effect or shall not be enforceable
against the Guarantor in accordance with its terms, or the Guarantee shall be
disaffirmed, repudiated, revoked or declared null and void; or

                  (1)      the Insurer, the Borrower or the Lessee shall fail to
perform or observe any of its covenants and agreements set forth in the Residual
Value Policy or in the Construction Termination Policy, as the case may be, or
the Residual Value Policy or the Construction Termination Policy, as the case
may be, shall not be in full force and effect or shall not be enforceable
against the Insurer in accordance with its terms, or the Residual Value Policy
or the Construction Termination Policy, as the case may be, shall be
disaffirmed, repudiated, revoked or declared null and void.

         SECTION  8.2. REMEDIES.

                  (a)      DEFAULT INTEREST

                  Interest ("OVERDUE INTEREST") shall immediately accrue at the
Overdue Rate on any amount (whether principal, interest, late payment charge,
Make Whole Premium, reimbursement of advances or expenses or payment into escrow
or for reserve funds) not paid when due hereunder or under any other Operative
Agreement, until such amount is paid.

                                     - 26 -

<PAGE>

                  (b)      ACCELERATION OF THE MATURITY OF THE NOTES

                  At any time during which any Indenture Event of Default has
occurred and is continuing, either (i) the Required Holders or (ii) the
Indenture Trustee, upon (and only upon) the direction of the Required Holders,
and written notice to the Borrower, may declare the entire unpaid principal
amount of the Senior Secured Notes to be due and payable immediately, anything
in the Senior Secured Notes or in this Indenture contained to the contrary
notwithstanding, whereupon the same shall forthwith mature and be due and
payable, together with interest accrued thereon and the Make Whole Premium, if
any, with respect to the Senior Secured Notes, all without presentment, demand,
protest or further notice, which are hereby waived; provided that in the event
of an Indenture Event of Default described in clause (g), (h) or (i) of Section
8.1, the entire unpaid principal amount of the Senior Secured Notes and all
accrued and unpaid interest thereon shall automatically (without any action,
notice or demand) mature and be due and payable, together with interest accrued
thereon and the Make Whole Premium, if any, with respect to the Senior Secured
Notes, all without presentment, demand, protest or further notice, which are
hereby waived. The occurrence of an Indenture Event of Default in connection
with which there is any such acceleration of maturity shall constitute an
irrevocable election by the Borrower to prepay the Senior Secured Notes, to fix
the date of such acceleration (the "ACCELERATION DATE") as the Maturity Date and
to pay to the Indenture Trustee on the Maturity Date the entire principal amount
of the Senior Secured Notes, together with all accrued and unpaid interest
thereon to the Maturity Date and the Make Whole Premium.

                  (c)      APPOINTMENT OF RECEIVER

                  At any time during which any Indenture Event of Default has
occurred and is continuing, the Indenture Trustee may, with or without any
acceleration of the maturity of the Senior Secured Notes, without waiving or
limiting any of the Borrower's obligations under the Operative Agreements,
without notice (except as required by law) to or consent by the Borrower, and
regardless of the adequacy of the Collateral, the solvency of the Borrower or
whether the Indenture Trustee has an adequate remedy at law, apply to any court
having jurisdiction to appoint a receiver to take possession of all or any
portion of the Collateral and enforce the collection of all amounts payable
under the Bonds and the Lease. The Borrower hereby irrevocably consents to such
appointment and waives notice (except as required by law) of any application
therefor. Any such receiver shall have all of the usual powers and duties of
receivers in similar cases and all of the Indenture Trustee's powers and duties
upon entry and possession of all or any portion of the Collateral, as provided
for in clause (d) hereof, and shall continue as receiver and exercise all such
powers until the confirmation of the sale of the Collateral, or such portion as
applicable, or unless such receivership is sooner terminated.

                  (d)      ENTRY AND POSSESSION

                  At any time during which any Indenture Event of Default has
occurred and is continuing, either the Indenture Trustee personally or by its
agents or attorneys or a court appointed receiver, may, with or without any
acceleration of the maturity of the Senior Secured Notes, without waiving or
limiting any of the Borrower's obligations under the Operative Agreements, and
(except as otherwise provided by law) without notice to or consent by the

                                     - 27 -

<PAGE>

Borrower: (i) with or without bringing any action or proceeding, enter upon and
take possession of all or any portion of the Collateral, in its own name, and
take any necessary or appropriate actions to protect and preserve the Collateral
and the Lien of the Security Documents (including the making of payments to
preserve or enhance the value, marketability or rentability of the property and
the leasing of the Facility); or (ii) with or without taking possession of the
Facility, sue for or otherwise collect all amounts payable under the Bonds and
the Lease (including those due and unpaid), and such amounts payable under the
Bonds and the Lease are hereby assigned to the Indenture Trustee, its successors
in trust and their assigns. After deducting the expenses of conducting the
business thereof and of all maintenance, repairs, renewals, replacements,
alterations, additions, betterments and improvements and Taxes, assessments,
insurance and other proper charges upon the Facility, as well as reasonable
compensation for the services of the Indenture Trustee and all attorneys,
servants and agents by the Indenture Trustee properly engaged and employed
(including compensation and expenses in connection with any appeal), the
Indenture Trustee shall promptly apply the moneys arising as aforesaid as
follows:

                  (x)      if an Indenture Event of Default other than an
Indenture Event of Default described in clause (a) or (b) of Section 8.1 shall
have occurred, in the following order of priority: first, to the payments of the
principal of the Senior Secured Notes and interest thereon (for the payment of
which, during the Construction Period, the Indenture Trustee shall first draw
Escrowed Funds (to the extent available) pursuant to the Escrow Agreement,
including the Standing Orders), the Make Whole Premium and all other amounts
under the Senior Secured Notes and this Indenture, when and as the same shall
become payable, second, to the payment of any other sums required to be paid by
the Borrower under this Indenture, and third, so long as no Independent Event of
Default has occurred and is continuing and no Senior Secured Notes have been
accelerated pursuant to Section 8.2, to the payment of the Investor
Contribution, the Investor Yield and the Investor Premium; or

                  (y)      if an Indenture Event of Default described in clause
(a) or (b) of Section 8.1 shall have happened, in the order of priorities and
amounts set forth in clauses (i) through (viii) of Section 8.2(f);

No amount the Indenture Trustee may collect or receive under this Article shall
operate to cure any Indenture Event of Default or reinstate any Indebtedness
under the Senior Secured Notes.

                  (e)      SALE OF COLLATERAL

                  At any time during which an Indenture Event of Default has
occurred and is continuing, the Indenture Trustee, with or without entry,
personally or by its agents or attorneys, may and, upon the written direction of
the Required Holders, shall commence an action to foreclose under the Security
Documents (in its absolute discretion, by power of sale, by judicial foreclosure
or otherwise), and the Indenture Trustee, its successors and their assigns are
hereby granted the power of sale with respect to any and all of the Collateral;
provided that the Indenture Trustee shall, if practicable, provide to the
Borrower and the Lessee ten (10) days' prior written notice of any sale of the
Collateral (or such longer notice as may be required pursuant to local law). In
the case of an exercise of the power of sale, the following applies:

                                     - 28 -

<PAGE>

                           (i)      The Indenture Trustee may proceed in
accordance with clause (iii) below, as if all of the Collateral were real
property, or may elect to treat as personal property any of the Collateral that
consists of a right in action or can be severed from the Facility and, in
accordance with clause (ii) below, dispose of such property separate and apart
from the sale of real property.

                           (ii)     The Indenture Trustee may cause any sale or
other disposition of personal property to be conducted immediately following the
expiration of any notice or grace period (if any) herein provided, or the
Indenture Trustee may delay any sale or other disposition for such period of
time as the Indenture Trustee deems to be appropriate. If the Indenture Trustee
desires that more than one such sale or other disposition be conducted, the
Indenture Trustee may cause the same to be conducted simultaneously or
successively on the same day or on different days and at such times and in such
order as the Indenture Trustee may deem to be appropriate.

                           (iii)    The Indenture Trustee may sell the
Collateral or any part thereof that is real property or that the Indenture
Trustee has elected to treat as real property, and, upon such election, the
Indenture Trustee shall give such notice of default and election to sell as may
then be required by law. Thereafter, upon the expiration of such time and the
giving of such notice of sale as may then be required by law and upon
advertising the sale as required by law, and without any demand on the Borrower,
at the time and place specified in the notice of sale, the Indenture Trustee
shall sell the Collateral or any portion thereof, as specified by the Indenture
Trustee, at public auction to the highest bidder for cash in lawful money of the
United States. The Indenture Trustee may from time to time postpone the sale by
public announcement thereof at the time and place noticed therefor. If the
Collateral to be sold includes several lots or parcels, the Indenture Trustee
may designate the order in which such lots or parcels shall be offered for sale
or sold. Any Person, including the Indenture Trustee, may purchase at the sale.
The purchaser at any private or foreclosure sale hereunder may disaffirm any
easement or lease not consented to by the Indenture Trustee and with respect to
which the Indenture Trustee has not granted a right of non-disturbance or which
is not a Permitted Exception, and may take immediate possession of such property
free therefrom, except as otherwise required under the law of the state in which
such part of the Collateral is located.

                           (iv)     Upon the completion of any sale hereunder,
the Indenture Trustee or any officer of any court empowered to do so shall
execute, acknowledge and deliver to the purchaser good and sufficient
instruments conveying, assigning and transferring all estate, right, title and
interest in and to the property rights sold. The Borrower hereby
unconditionally, absolutely and irrevocable constitutes and appoints the
Indenture Trustee and its successors and assigns forever the Borrower's true and
lawful attorneys-in-fact, coupled with an interest, with full power of
substitution, in the Borrower's name, place and stead, to make all necessary or
appropriate conveyances, assignments, transfers and deliveries of the Collateral
or any part thereof, and for that purpose the Indenture Trustee may execute all
necessary or appropriate instruments of conveyance, assignment and transfer. The
execution and delivery of any document, certificate or instrument by the
Indenture Trustee, as attorney-in-fact for the Borrower pursuant to this
power-of-attorney, shall constitute conclusive proof of the Indenture Trustee's
power and authority, on the Borrowers' behalf, to execute and deliver such
document and take

                                     - 29 -

<PAGE>

any action contemplated thereby. Nevertheless, the Borrower, if so required by
the Indenture Trustee, shall ratify and confirm any such sale by executing,
acknowledging and delivering to the Indenture Trustee or to such purchaser all
such instruments as may be necessary or appropriate, in the judgment of the
Indenture Trustee. Any sale made hereunder, whether under the power of sale or
by virtue of judicial proceedings or a judgment or decree of foreclosure and
sale, shall operate to divest all of the estate, right, title and interest, at
law or in equity, of the Borrower (and any Person claiming by, through or under
the Borrower) in and to the portion of the Collateral sold, and shall be a
perpetual bar, at law and in equity, against the Borrower and all Persons
claiming, or that may claim, by, through or under the Borrower.

                           (v)      In the event of a sale or other disposition
of any portion of the Collateral, the recitals in the deed of facts (such as
default, the giving of notice of default and notice of sale, demand that such
sale should be made, postponement of sale, terms of sale, sale, purchase,
payment of purchase money and other facts to the extent such facts affect the
regularity or validity of such sale or disposition) shall, upon execution of the
deed, be conclusive proof of the truth of such facts against all Persons for the
sole purpose of affirming the validity of such sale. The acknowledgment by the
Indenture Trustee of the receipt of the purchase money stated in any such deed
shall be sufficient to discharge the Indenture Trustee from all obligations to
see to the proper use or application of the portion of the Collateral sold.

                           (vi)     In the event of any sale made under or by
virtue of this Article (whether made under the power of sale herein granted or
under or by virtue of judicial proceedings or of a judgment or decree of
foreclosure and sale), the entire principal of and interest on the Senior
Secured Notes and all other amounts (including any Make Whole Premium) required
to be paid pursuant hereto, if not previously due and payable, shall immediately
become due and payable, anything in the Senior Secured Notes or in this
Indenture to the contrary notwithstanding.

Notwithstanding the foregoing, so long as no Independent Event of Default has
occurred and is continuing, the Indenture Trustee shall not exercise any of the
remedies contained in this Section 8.2(e) unless the Indenture Trustee as
assignee of the Borrower shall have exercised, or shall concurrently be
exercising with reasonable diligence, its right to terminate the Lease or other
remedies under the Lease for the purpose of dispossessing the Lessee from the
Facility; provided that in the event the Indenture Trustee is stayed under the
Bankruptcy Code or otherwise prohibited from exercising such remedies under the
Lease by the operation of any law or court order, the Indenture Trustee may, at
the expiration of a ninety (90) day period beginning on the first day of said
stay or other prohibition, exercise any remedy hereunder even though it is not
concurrently exercising any remedies under the Lease, except that as long as (a)
the Lessee is paying all amounts required to be paid by it under the Lease and
is performing and observing all covenants and agreements required to be
performed or observed by it under the Lease and (b) no Lease Event of Default or
the Agency Agreement Event of Default is then continuing, the Indenture Trustee
may not exercise any of the remedies contained in this Section 8.2(e) with
respect to the Collateral or any part thereof during the period that such stay
or other prohibition is in effect.

                                     - 30 -

<PAGE>

                  (f)      APPLICATION OF SALE PROCEEDS

                  The purchase money, proceeds or avails of any sale made under
or by virtue of this Article, together with any other funds which then may be
held by the Indenture Trustee, as part of the Collateral or the proceeds
thereof, whether under the provisions of this Article or otherwise, shall be
applied to pay, in the following order of priority: (i) all out-of-pocket
charges and expenses (including court costs, advertising expenses, auctioneer's
allowance, expenses required to correct any title irregularity, disbursements
and bond premium, auditors' fees, attorneys' fees and expenses and reasonable
compensation to the Indenture Trustee, its agents and counsel) in connection
with such sale; (ii) all amounts advanced and costs incurred by the Indenture
Trustee for any purpose permitted under the Operative Agreements, together with
interest thereon, as provided for in the Operative Agreements; (iii) all accrued
and unpaid interest on the unpaid principal and all other amounts (including any
Make Whole Premium) due and payable under the Senior Secured Notes; (iv) all
unpaid principal under the Senior Secured Notes; (v) all other amounts due and
payable to the Indenture Trustee under the Operative Agreements; (vi) to the
Investor, all accrued and unpaid Investor Yield and all other amounts (including
any Investor Premium) due and payable in respect of the Investor Contribution;
(vii) to the Investor, all unpaid Investor Contribution; and (viii) to the
Lessee or such Persons legally entitled thereto, in each case, free of the Lien
of the Security Documents.

                  (g)      PURCHASE BY THE INDENTURE TRUSTEE

                  Upon any sale made under or by virtue of this Article (whether
made under any power of sale herein granted or under or by virtue of judicial
proceedings or of a judgment or decree of foreclosure and sale), to the extent
permitted by Legal Requirements, the Indenture Trustee, on behalf of the
Noteholders, may bid for and acquire the Collateral or any part thereof and in
lieu of paying cash therefor shall, upon (and only upon) the written direction
of the Required Holders, make settlement for the purchase price by crediting
upon the Indebtedness under the Senior Secured Notes secured by the Security
Documents the net proceeds of sale after deduction of all costs, expenses,
compensation and other charges to be paid therefrom as herein provided. The
Person making such sale shall accept such settlement without requiring the
production of any of the Senior Secured Notes, and, without such production,
there shall be deemed credited thereon the pro rata share of the net proceeds of
sale ascertained and established as aforesaid. The Indenture Trustee, upon so
acquiring the Collateral or any part thereof, shall be entitled to hold, deal
with and sell the same in any manner permitted by any Legal Requirement.

                  (h)      INDENTURE TRUSTEE'S CLAIM IN BANKRUPTCY

                  In case of proceedings against or involving the Borrower in
insolvency or bankruptcy (including any proceeding under any federal or state
bankruptcy or insolvency statute or similar law) or any proceedings for its
respective reorganization or involving the liquidation of its assets, the
Indenture Trustee shall be entitled to prove the whole amount of principal and
interest due upon the Senior Secured Notes to the full amount thereof and all
other payments, charges and costs due under this Indenture (including any Make
Whole Premium payable by the Borrower pursuant to Section 8.2(b) or any other
provision of this Indenture) and the Senior Secured Notes, without deducting
therefrom any proceeds obtained from the sale of the whole or

                                     - 31 -

<PAGE>

any part of any property included in the Collateral; provided, however, that in
no case shall the Indenture Trustee receive a greater amount than such principal
and interest and such other payments, charges and costs from the aggregate
amount of the proceeds of all sales of the Collateral and the distribution from
the estate of the Borrower.

                  (i)      OTHER SECURITY

                  The Indenture Trustee may exercise all of its rights and
remedies under this Indenture and the other Operative Agreements,
notwithstanding that some or all of the Borrower's obligations hereunder and
thereunder may not or hereafter be otherwise secured, and the Indenture
Trustee's acceptance and enforcement of this Indenture shall not operate as a
waiver of, or to limit, the Indenture Trustee's rights and remedies with respect
to any other security for the performance of any of the Borrower's obligations
under the Operative Agreements. The Indenture Trustee may enforce this Indenture
and any such other security in any order or manner that the Indenture Trustee
determines, and the Indenture Trustee's rights hereunder and thereunder shall be
cumulative.

         SECTION 8.3. VOLUNTARY APPEARANCE. After an Indenture Event of Default
and during its continuance, promptly upon the commencement of any action, suit
or other legal proceeding by the Indenture Trustee to obtain judgment for the
principal of, premium, if any, or interest on the Senior Secured Notes and other
sums required to be paid by the Borrower hereunder or under the Senior Secured
Notes, or of any other nature in aid of the enforcement of the Senior Secured
Notes or of this Indenture, the Borrower shall, to the extent not prohibited by
law, enter a voluntary appearance in such action, suit or proceeding.

         SECTION 8.4. SUITS BY THE INDENTURE TRUSTEE. All rights of action under
this Indenture or under any of the Senior Secured Notes may be enforced by the
Indenture Trustee without the possession of any of the Senior Secured Notes and
without the production thereof at any trial or other proceeding relative
thereto. A copy of any Senior Secured Note, if properly certified by the
Indenture Trustee to be true and correct, shall constitute conclusive evidence
of all matters that could be proven by production of the original of that Senior
Secured Note in any trial or proceeding relative thereto. Any such suit or
proceeding instituted by the Indenture Trustee shall be brought in its name as
trustee (subject to the provisions of Article 9 hereof), and, subject to the
rights of the Indenture Trustee, any recovery of judgment shall be for the
ratable benefit of the Noteholders.

         SECTION 8.5. GENERAL PROVISIONS CONCERNING REMEDIES.

                  (a)      SUBROGATION

                  If any portion of the principal under the Senior Secured Notes
or any amounts advanced or expended by the Indenture Trustee is used, directly
or indirectly, to pay, discharge or satisfy, in whole or in part, any prior Lien
with respect to the Collateral, the Indenture Trustee shall be subrogated to
such Lien and any security therefor.

                                     - 32 -

<PAGE>

                  (b)      ACCOUNTING

                  Neither the Indenture Trustee nor any receiver appointed for
the Indenture Trustee's benefit with respect to the Collateral shall be liable
to account for any earnings, revenues, rents, issues, profits, income or other
amounts, except for amounts actually received by the Indenture Trustee or such
receiver (as the case may be).

                  (c)      WAIVER OF DEFAULT

                  The Indenture Trustee, upon the direction of the Required
Holders, shall waive any default hereunder and its consequences with respect to
the Senior Secured Notes, except a default (i) in the payment or prepayment of
the principal of, interest on, any Make Whole Premium or any other amounts in
respect of, any Senior Secured Note when and as the same shall become due and
payable, (ii) depriving the Indenture Trustee or any Noteholder of a Lien upon
the Collateral, (iii) in the due performance or observance of the covenants and
obligations of the Borrower contained in Section 8.2 of the Participation
Agreement or (iv) described in Sections 8.1(k) and (1). In case of the waiver of
any default or in case any proceeding taken on account of any such default shall
have been discontinued or abandoned or determined adversely to the Indenture
Trustee, then and in every such case, the Borrower, the Indenture Trustee and
the Noteholders shall be restored to their former positions and rights hereunder
respectively. No such waiver shall extend to any subsequent or other default or
impair any right consequent thereon.

                  (d)      WAIVER OF ACCELERATION

                  At any time after the entire unpaid principal amount of the
Notes and all accrued and unpaid interest thereon shall have been declared due
and payable pursuant to Section 8.2(b), the Required Holders may rescind and
annul any such declaration and its consequences; provided that at the time such
declaration is annulled and rescinded:

                           (i)      no judgment or decree shall have been
entered for the payment of any money due pursuant to the Senior Secured Notes or
any other Operative Agreements;

                           (ii)     all Indebtedness under the Senior Secured
Notes that has become due and payable solely by reason of such declaration shall
have been duly paid; and

                           (iii)    each and every other Indenture Default shall
have been remedied or waived or otherwise made good or cured.

                  (e)      LIMITATION OF REMEDIES

                  If an Indenture Event of Default arises solely out of the
occurrence and continuance of a Lease Event of Default under Section 11.1 (d) of
the Lease, the Indenture Trustee shall not exercise its rights hereunder unless
it shall be concurrently exercising with reasonable diligence its right to
terminate the Lease, subject to the right of a court of competent jurisdiction
to limit or stay the exercise of remedies under the Lease; provided that the
Indenture Trustee may exercise any of the remedies to which it is entitled as
assignee of the Borrower under the Lease if the creditor (or trustee thereof)
referred to in Section 11.1 (d) of the Lease shall have

                                      - 33-

<PAGE>

exercised any remedy against the Lessee with respect to which such Lease Event
of Default has occurred.

         SECTION 8.6. REMEDIES CUMULATIVE. No remedy herein conferred upon or
reserved to the Indenture Trustee or to the Noteholders is intended to be
exclusive of any other remedy or remedies, and each and every such remedy shall
be cumulative and shall be in addition to every other remedy given hereunder or
now or hereafter existing at law or in equity (whether or not an Indenture Event
of Default has occurred and is continuing, but only to the extent not
inconsistent with the terms of this Indenture and the Security Documents). No
delay or omission of the Indenture Trustee or of any Noteholder in the exercise
any right or power accruing upon any Indenture Event of Default shall impair any
such right or power or shall be construed to be a waiver of any such Indenture
Event of Default or an acquiescence therein; and every power and remedy given by
this Indenture to the Indenture Trustee or to the Noteholders may be exercised
from time to time and as often as may be deemed expedient by the Indenture
Trustee or by the Noteholders.

         SECTION 8.7. THE BORROWER'S WAIVERS, (a) The Borrower agrees that it
shall not, at any time or in any manner whatsoever, claim or take any benefit of
any stay, extension or moratorium law which may affect the terms of this
Indenture; nor claim or take any benefit of any law providing for the valuation
or appraisal of any property included in the Collateral or any part thereof
prior to any sale thereof; nor, prior to or after any such sale, claim or
exercise any right to redeem the property so sold or any part thereof; and the
Borrower hereby expressly waives all benefit or advantage of any such law and,
after an Indenture Event of Default and during its continuance, covenants not to
hinder, delay or impede the execution of any power herein granted or available
at law or in equity, but to suffer and permit the execution of every power and
remedy as though no such law existed. The Borrower waives all right to have the
property included in the Collateral marshaled upon any foreclosure thereof.

                  (b)      Except as otherwise provided in the last paragraph of
Section 8.2(e)(vi) and in Section 8.5(e), the Borrower hereby waives any right
to require the Indenture Trustee or the Noteholders to proceed against any
Person, firm or corporation or to proceed against or exhaust any other security
held by them at any time or to pursue any other remedy in their powers, and the
Borrower agrees that neither the Indenture Trustee nor the Noteholders shall be
obligated to resort to any other security, with any priority, in any particular
order or at all, even if such action or omission destroys, alters or otherwise
impairs subrogation rights of the Borrower against such Person, firm or
corporation or the right of the Borrower to proceed against such Person, firm or
corporation for reimbursement, or both.

                  (c)      Subject to the applicable notice provisions contained
herein, the Borrower waives demand, protest and notice of any action or
non-action on the part of the Noteholders, the Indenture Trustee, any endorser,
any creditor of the Borrower under any other instrument, or any other Person
whosoever, in connection with any obligation or evidence of Indebtedness secured
hereby.

                                     - 34 -

<PAGE>

                  (d)      Until all Indebtedness under the Senior Secured Notes
has been paid in full, the Borrower waives the right of subrogation and any
benefit of, and any right to participate in, any security now or hereafter held
by the Indenture Trustee or the Noteholders.

         SECTION 8.8. DIRECTION OF REMEDIES. The Required Holders shall have the
right by an instrument in writing delivered to the Indenture Trustee to direct
the time, method and place of conducting any proceeding for any remedy available
to the Indenture Trustee with respect to this Indenture or of exercising any
power of trust conferred upon the Indenture Trustee, and the Indenture Trustee,
subject to the provisions of Section 9.1, shall have the right to decline to
follow any such direction if the Indenture Trustee shall in good faith
determine, by the Chairman of the Board of Directors, the President or a Vice
President of the Indenture Trustee, that the proceeding so directed would
reasonably subject it or him, as the case may be, to personal liability,
including under any Environmental Law. The Indenture Trustee shall not be liable
with respect to any action taken or omitted to be taken by it in good faith in
accordance with any written instruction furnished to the Indenture Trustee by
the Required Holders in response to a written application by the Indenture
Trustee therefor. If no such instrument or instruction has been received from
the Required Holders, the Indenture Trustee may (but shall have no duty to) take
such action, if any, as the Indenture Trustee shall determine to the extent not
inconsistent with the terms of this Indenture.

         SECTION 8.9. SUIT BY NOTEHOLDERS. If an Indenture Event of Default
described in Section 8.l(a) or (b) shall have occurred and be continuing and the
Required Holders shall have directed the Indenture Trustee to act with respect
thereto (and offered indemnity in accordance with Section 9.2(1)) and the
Indenture Trustee shall have failed to act within ten (10) days thereof, then
and only then shall any Noteholder have the right to exercise any remedy
therefor available to the Indenture Trustee pursuant to Section 8.2 hereof. All
rights of action under this Indenture or under any of the Senior Secured Notes
may be performed by the Noteholders without the possession of any Senior Secured
Notes and without the production thereof at any trial or other proceeding
relative thereto. A copy of any Senior Secured Note, if properly certified by a
Noteholder to be true and correct, will constitute evidence of all matters that
could be proven by production of the original of that Senior Secured Note in any
trial or proceeding relative thereto.

         SECTION 8.10. CERTAIN RIGHTS OF THE BORROWER. Anything in this
Indenture, the Notes or any other Operative Agreement to the contrary
notwithstanding, as long as no Independent Event of Default has occurred and is
continuing, the Borrower shall be entitled to exercise the following rights (the
"EXCEPTED RIGHTS"):

                  (a)      SHARED RIGHTS

                  The Borrower will at all times retain, but not to exclusion of
the Indenture Trustee, the rights (the "SHARED RIGHTS") (i) to receive from the
Lessee all notices, copies of documents and other information which the Lessee
is permitted or required to give or furnish to the Borrower pursuant to the
Operative Agreements, (ii) to inspect the Facility and the books and records of
the Lessee to the extent provided in the Operative Agreements, and (iii) to
provide such insurance as the Lessee will have failed to maintain and to obtain
excess insurance for its own account (but only to the extent such excess does
not result in the Borrower being deemed a

                                     - 35 -

<PAGE>

co-insurer with the Lessee) and to receive any notices or consents with respect
to insurance contemplated by the Lease.

                  (b)      TERMINATION, AMENDMENTS, WAIVER, ETC.

                           (i)      Unless a Lease Event of Default has occurred
and is continuing, the Indenture Trustee shall not enter into any amendment,
modification or waiver of the Lease (herein, an "AMENDMENT"), which could
reasonably be expected to materially adversely affect the Borrower's rights
under the Lease, without the prior written consent of the Borrower (which shall
not be unreasonably withheld).

                           (ii)     Whether or not a Lease Event of Default has
occurred and is continuing, (A) the Borrower shall have the exclusive right to
enter into, execute and deliver Amendments relating solely to the Excepted
Payments and the Excepted Rights, and (B) the Indenture Trustee shall neither
enter into, execute nor deliver Amendments that impair any of the Borrower's
Excepted Rights or Excepted Payments.

                           (iii)    Except as expressly prohibited by this
clause (b) or in clause (c) of this Section 8.10, if a Lease Event of Default
has occurred and is continuing, the Indenture Trustee may enter into Amendments
without the consent or approval of the Borrower; provided that prior to
effecting any such Amendment which is adverse to the Borrower, the Indenture
Trustee shall deliver to the Borrower a written counterpart of such Amendment
substantially in the form proposed to be effected, and no such proposed
Amendment shall be effected prior to the tenth (10th) day following such
delivery.

                           (iv)     Additionally, notwithstanding anything in
this Indenture or any other Operative Agreement to the contrary, so long as no
Independent Event of Default has occurred and is continuing, no changes or
modifications shall be made to any Operative Agreement to which the Borrower is
a party without the Borrower's prior written consent (which consent shall not be
unreasonably withheld) if such change or modification: (1) increases the Term of
the Lease or the maturity of the Senior Secured Notes, but no Borrower consent
will be required at any time an Indenture Event of Default has occurred and is
continuing; (2) reduces the Maximum Residual Guarantee Amount or the
Construction Termination Amount, but no Borrower consent will be required from
and after the earlier of: (x) acceleration of the Senior Secured Notes and
initiation of foreclosure proceedings with respect to the Collateral and (y)
filing of a bankruptcy petition by or against the Borrower or the Lessee; (3)
adversely changes any indemnities payable to the Borrower or the Investor under
the Operative Agreements; (4) decreases the Investor Yield; (5) adversely
affects the Insurance Requirements of any insurance policy that inures to the
benefit of the Borrower or the Investor; (6) adversely affects the use or
maintenance provisions with respect to the Facility contained in Section 3.3 and
Article V of the Lease; (7) adversely changes Article X of the Lease (including
waiving any default that would otherwise prevent the Lessee from exercising the
remarketing option set forth in Section 10.2 of the Lease), but no Borrower
consent will be required from and after the earlier of: (x) acceleration of the
Senior Secured Notes and initiation of foreclosure proceedings with respect to
the Collateral and (y) filing of a bankruptcy petition by or against the
Borrower or the Lessee; or (8) changes this Section 8.10.

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                  (c)      EXCEPTED PAYMENTS

                  The Borrower shall distribute to the Investor any Excepted
Payments to which the Investor is entitled.

         SECTION 8.11. NO ACTION CONTRARY TO THE LESSEE'S RIGHTS UNDER THE
LEASE. Notwithstanding any other provision of any Operative Agreement, the
Indenture Trustee covenants that, so long as no Lease Event of Default shall
have occurred and be continuing, the Indenture Trustee shall not take any action
contrary to the Lessee's rights under the Lease, including the Lessee's rights
to quiet use and possession of the Facility.

         SECTION 8.12. NONRECOURSE LIABILITY, (a) Notwithstanding any provision
herein to the contrary (except as provided in clauses (b) and (c) of this
Section), it is expressly understood and agreed that if the Indenture Trustee at
any time takes action to enforce the collection of the Indebtedness under the
Senior Secured Notes, the Indenture Trustee will proceed to foreclose hereunder
and sell the Collateral and/or institute suit on the Guarantee, the Facility
Agency Agreement or the Senior Secured Notes and take such other action as shall
be necessary to enforce Noteholders' rights under the Residual Value Policy and
the Construction Termination Policy. If a lesser sum is realized from such
foreclosure, sale and/or suit, neither the Noteholders nor the Indenture Trustee
will institute any action, suit, claim or demand in law or equity against the
other assets of the Borrower or against the Borrower's managers, officers,
directors, employees or the Investor, for or on account of the deficiency or for
any other matter with respect to the Borrower's obligations hereunder or under
any of the other Operative Agreements.

                  (b)      Nothing contained in clause (a) above will in any way
affect or impair: (i) the Lien of the Security Documents securing the entirety
of all amounts due under the Bonds, the Senior Secured Notes and hereunder; (ii)
the Noteholders' rights under the Guarantee (including upon acceleration to
receive the entirety of all amounts due under the Senior Secured Notes and
hereunder), the Facility Agency Agreement, the Residual Value Policy or the
Construction Termination Policy; (iii) the Borrower's liability for its
obligations as landlord under the Lease; (iv) the Borrower's liability for its
obligations under Section 8.2(a), (d), (f), (i) and (l) of the Participation
Agreement; or (v) the Noteholders' or the Indenture Trustee's rights pursuant to
the Lease, the Assignment of Leases or any other Operative Agreement to
institute actions, suits, claims or demands in law or equity against the Lessee.

                  (c)      Further, the following, (x) in the case of clauses
(iii), (iv), (v), (vii), (ix) or (xi), if liability imposed thereby results from
any action of the Borrower directed by the Investor, and (y) in the case of all
other clauses, as provided therein, are excluded from the provisions of clause
(a), and the Noteholders may recover personally against the assets of the
Borrower (but not against any assets of any manager, officer, director or
employee of the Borrower or the Investor or their personal assets) for the
following as aforesaid:

                           (i)      all actual losses, damages or liabilities
that the Noteholders suffer arising out of any fraud or willful or intentional
misrepresentation by the Borrower in connection with: (A) the Borrower's
performance or fulfillment of any of the conditions to or requirements for any
advance of the Indebtedness under the Senior Secured Notes; (B) the execution
and

                                     - 37 -

<PAGE>

delivery by the Borrower of any of the documents evidencing or securing the
Indebtedness under the Senior Secured Notes; (C) the making of any
representations or warranties by the Borrower contained in the Operative
Agreements; or (D) the Borrower's performance of any of its obligations under
the Operative Agreements;

                           (ii)     all rents and other revenues, payments or
reimbursements of any kind whatsoever (including all payments by the Lessee)
derived from the Facility and received by the Borrower at any time after the
Borrower becomes aware of any Indenture Event of Default (unless waived or cured
pursuant to this Indenture) or on deposit on the date the Borrower becomes so
aware in one or more accounts used by the Borrower or the Borrower's agents or
representatives in connection with the Facility, except to the extent permitted
under this Indenture or otherwise properly applied (as documented by evidence
reasonably satisfactory to the Required Holders) to the normal and customary
expenses and operations of the Facility, in each case pursuant to the Lease and
the Security Documents;

                           (iii)    all security or other deposits and advance
rents collected by the Borrower and not properly applied in due course (as
documented by evidence reasonably satisfactory to the Required Holders);

                           (iv)     the replacement cost of any items of
personalty or any fixtures removed from the Facility by the Borrower and not
replaced, unless obsolete or permitted to be removed by the terms of the Lease,
at any time after the Borrower becomes aware of any Indenture Event of Default
(unless waived or cured pursuant to this Indenture);

                           (v)      all actual losses, damages and liabilities
that the Noteholders suffer arising from any acts of commission or omission by
the Borrower that result in waste upon the Collateral;

                           (vi)     any Net Proceeds that are misapplied by the
Borrower contrary to the terms hereof and of the Lease;

                           (vii)    all actual losses, damages and liabilities
that the Noteholders suffer arising from any of the Borrower's obligations as
landlord under the Lease;

                           (viii)   any amendment, modification, waiver or any
termination of the Bond Sublease, the Lease, the Residual Value Policy, the
Construction Termination Policy or the Facility Agency Agreement without the
consent of the Required Holders;

                           (ix)     any act or omission of the Borrower that
vitiates any coverage, or reduces any amount that might otherwise be payable,
under (x) any property (hazard) insurance policy required under the Operative
Agreements with respect to the Facility, (y) any provision for self-insurance or
(z) the Residual Value Policy or the Construction Termination Policy;

                           (x)      any Lien, other than Permitted Liens,
resulting from the action or inaction of the Borrower that is not required to be
indemnified by the Lessee;

                                     - 38 -

<PAGE>

                           (xi)     any environmental liability of the Borrower
that is not required to be indemnified by the Lessee; and

                           (xii)    the failure of the Borrower to conduct its
business in a manner sufficient to avoid consolidation with any of its
Affiliates, except with respect to the filing of consolidated Tax returns in
accordance with the Code and except as imposed by law under ERISA.

                                    ARTICLE 9

                                    TRUSTEES

         SECTION 9.1. INDIVIDUAL AND CO-TRUSTEES. (a) If required under the law
of the state of Missouri with respect to the Facility or the law of any other
jurisdiction in which any of the Collateral is located, or if the Indenture
Trustee deems such to be otherwise necessary or prudent, the Indenture Trustee
shall have the power to, and upon the written direction of the Required Holders
shall appoint one or more Persons at the expense of the Borrower to act as
individual trustees or co-trustees, jointly with the Indenture Trustee, of any
of the property subject to the Lien of the Security Documents, and any such
Person shall be such separate trustee or co-trustee, with such powers and duties
as shall be specified in such instrument.

                  (b)      Every individual trustee and co-trustee shall, to the
extent not prohibited by law, be subject to the following terms and conditions:

                           (i)      The rights, powers, duties and obligations
conferred or imposed upon such individual or co-trustee shall be conferred or
imposed upon and exercised or performed by the Indenture Trustee and such
separate or co-trustee, as shall be set forth in the instrument appointing him
or it; provided, however, that such separate or co-trustee shall take no action
without the consent of the Indenture Trustee (unless the requirement for such
consent shall be forbidden by law as to any particular application of such
requirement);

                           (ii)     All powers, duties, obligations and rights
conferred upon the Indenture Trustee, in respect of the custody of all cash
deposited hereunder, shall be exercised solely by the Indenture Trustee;

                           (iii)    The Indenture Trustee shall not be liable
for the acts or omissions of any individual trustee or co-trustee; and

                           (iv)     The Indenture Trustee may at any time by
written instrument accept the resignation of or remove any such individual
trustee or co-trustee, and upon the request of the Indenture Trustee, the
Borrower shall join with the Indenture Trustee in the execution, delivery and
performance of all instruments and agreements necessary or proper to make
effective such resignation, but the Indenture Trustee shall have the power to
accept such resignation or to make such removal without making such request. A
successor to an individual trustee or co-trustee so resigning or removed may be
appointed in the manner provided in this Section.

                                     - 39 -

<PAGE>

                  (c)      Such individual trustee or co-trustee, upon
acceptance of such trust, shall be vested with the estates or property specified
in such instrument, either jointly with the Indenture Trustee, or separately, as
may be provided therein, subject to all the trusts, conditions and provisions of
this Indenture; and every such instrument shall be filed with the Indenture
Trustee. Any individual trustee or co-trustee may, at any time, by written
instrument constitute the Indenture Trustee his agent or attorney-in-fact with
full power and authority, to the extent permitted by law, to do all acts and
things and exercise all discretion authorized or permitted by him, for and in
behalf of him and his name. If any individual trustee or co-trustee shall be
dissolved, become incapable of acting, resign, be removed or die, all the
estates, property, rights, powers, trusts, duties and obligations of said
individual trustee or co-trustee, so far as permitted by law, shall vest in and
be exercised by the Indenture Trustee, without the appointment of a successor to
said individual trustee or co-trustee, until the appointment of a successor to
said individual trustee or co-trustee is necessary as provided in Section 9.1
(a).

                  (d)      Any notice, request or other writing, by or on behalf
of the Noteholders delivered to the Indenture Trustee shall be deemed to have
been delivered to all individual and co-trustees.

         SECTION 9.2. RIGHTS AND OBLIGATIONS OF INDENTURE TRUSTEE. The Indenture
Trustee accepts the trusts hereby created and agrees to perform its duties
herein for the benefit of the Noteholders from time to time upon the following
terms and conditions:

                  (a)      The Indenture Trustee shall have the full power and
authority to do all things not inconsistent with the provisions of this
Indenture and the Security Documents in order to enforce this Indenture and the
Security Documents or to take any action with respect to an Indenture Event of
Default, or to institute, appear in or defend any suit or other proceeding with
respect thereto, or to protect the interests of the Noteholders. The Indenture
Trustee shall not be answerable or accountable except for its bad faith, willful
misconduct or gross negligence. The Indenture Trustee shall not be accountable
for the use of any proceeds from the sale of any Senior Secured Notes. Except as
provided in Section 3.4(b), the Indenture Trustee shall not be obligated to
prepare any revised refilings or continuations of any financing statements with
respect to the Collateral, but upon the request of the Required Holders, shall
execute and deliver, at the Borrower's expense, any security documents
reasonably requested to preserve the Lien created by the relevant Security
Documents, but shall have no obligation to take any action to protect, preserve
or enforce any rights or interests in the Collateral or towards the execution or
enforcement of the trusts created hereby and by the relevant Security Documents
which, in its opinion, shall be likely to involve unreimbursed expense or
liability, unless, upon the Indenture Trustee's request, the Noteholders shall
furnish reasonable indemnity (including the advancement of expenses reasonably
anticipated by the Indenture Trustee) against such liability and expense to the
Indenture Trustee. In accepting the trusts hereunder and the Collateral under
the Security Documents, the Indenture Trustee is acting solely as a trustee
hereunder and not in its individual capacity and all Persons, other than the
Borrower and the Noteholders, having any claim against the Indenture Trustee,
arising by reason hereof or in connection with any applicable Security
Documents, shall look only to the Collateral for payment or satisfaction
thereof. Unless and until

                                     - 40 -

<PAGE>

an Indenture Event of Default shall have occurred and be continuing, the
Indenture Trustee shall not be obligated to take any action under this
Indenture, the Security Documents or any document included in the Collateral
except for the performance of such duties as are specifically set forth herein
or therein and except as may be requested from time to time in writing by the
Required Holders. If and so long as an Indenture Event of Default (of which the
Indenture Trustee shall be deemed to have knowledge, as hereinafter provided in
clause (j) of this Section 9.2) shall have occurred and be continuing, the
Indenture Trustee shall exercise such rights, powers and remedies (whether
vested in it by this Indenture, the Security Documents or by law or in equity or
by statute or otherwise) for the protection and enforcement of its rights under
this Indenture, the Security Documents and in respect of the Collateral as to
which the Indenture Trustee is directed in written instructions from the
Noteholders pursuant to Section 8.8). Without limiting the foregoing, the
Indenture Trustee shall deliver to the Noteholders (i) promptly, but in no event
later than ten (10) Business Days after the Maturity Date, written notice of any
failure of the Lessee or the Borrower to deliver to the Indenture Trustee on the
Maturity Date the unpaid outstanding principal amount of such Series, together
with all interest accrued thereon to the date of payment, and (ii) promptly, but
in not event later than ten (10) Business Days after receipt thereof, written
notice of an order of a court of competent jurisdiction to reimburse, as a
preference, any amount previously paid to Indenture Trustee under the Senior
Secured Notes.

                  (b)      The Borrower shall pay, or cause to be paid, all
customary fees of the Indenture Trustee related to or arising out of this
Indenture and the Security Documents. In the event that the Borrower fails to
pay such compensation (which failure if not remedied within ten (10) days after
notice thereof shall constitute an Indenture Event of Default of a kind
described in Section 8.l(b)), the Indenture Trustee shall be entitled to seek
from the Noteholders or the Collateral reasonable compensation for the Indenture
Trustee's services and reimbursement for all proper disbursements incurred by it
upon or after an Indenture Event of Default, or for instituting, appearing in or
defending any suit or proceeding with respect thereto.

                  (c)      The Indenture Trustee shall incur no liability in
acting upon any signature, notice, request, consent, instrument, certificate,
opinion, or other instrument reasonably believed by it in good faith to be
genuine. In administering the trusts, the Indenture Trustee may execute any of
the trusts or powers hereof directly or through its agents or attorneys and may
consult with counsel, accountants and other skilled Persons to be selected and
employed by it, and the reasonable expenses thereof shall, upon the occurrence
and during the continuation of an Indenture Event of Default, be paid, or caused
to be paid, by the Borrower, and the Indenture Trustee shall not be liable for
anything done, suffered or omitted in good faith by it in accordance with the
advice of any such Person.

                  (d)      The recitals in this Indenture, the Senior Secured
Notes and the other Operative Agreements to which the Indenture Trustee is a
party shall not be considered as made by, or as imposing any obligation or
liability upon, the Indenture Trustee. The Indenture Trustee makes no covenant
or representation as to the rights of the Noteholders, the title or interest of
the Borrower in or to, or the condition of, the Collateral or the sufficiency of
the security for the Senior Secured Notes or of this Indenture or the Security
Documents, except that the Indenture Trustee represents and warrants that this
Indenture and the Security Documents have been duly

                                     - 41 -

<PAGE>

authorized, executed and delivered by the Indenture Trustee and constitute valid
and binding obligations of the Indenture Trustee enforceable against the
Indenture Trustee in accordance with their respective terms.

                  (e)      The Indenture Trustee shall have no duty to see to
any recording, filing or registration of the Security Documents, any instrument
of further assurance, any instrument constituting part of the Collateral, or any
amendments or supplements to any of said instruments or to see to the payment of
any fees, charges or Taxes in connection therewith, other than with respect to
moneys the Indenture Trustee collects for such purposes (and the Indenture
Trustee may act with respect to the Senior Secured Notes and pay out deposited
moneys without regard thereto), or to give any notice thereof, or to see to the
payment of or be under any duty in respect of any Tax, assessment or other
governmental charge which may be levied or assessed on the Collateral or any
part thereof or against the Borrower.

                  (f)      Whenever in administering the trust, the Indenture
Trustee shall deem it necessary or desirable that a matter be proved or
established prior to taking, suffering or omitting any action hereunder, such
matter (unless other evidence in respect thereof be herein specifically
prescribed) may be deemed to be conclusively proved and established, subject to
the first sentence of Section 9.2(c), by a certificate or other instrument
purporting to be signed by a Responsible Officer of the Borrower and delivered
to the Indenture Trustee, and such certificate or other instrument shall be full
warrant to the Indenture Trustee and the Indenture Trust shall incur no
liability to anyone for any action taken, suffered or omitted by it on the
reliance thereof, but in its discretion the Indenture Trustee may in lieu
thereof accept other evidence of such fact or matter or may require such further
or additional evidence as may seem reasonable to it.

                  (g)      The Indenture Trustee shall have no obligation to see
to the payment or discharge of any Liens (other than the Lien hereof, and then
only to the extent herein provided, and Liens, if any, arising by reason of its
acts or omissions unrelated to the discharge of its duties as Indenture Trustee
hereunder) upon the property included in the Collateral or to the delivery or
transfer to any Person of any property released from any such Lien, or to give
notice to or make demand upon any mortgagor, mortgagee or other Person for the
delivery or transfer of any of such property. The Indenture Trustee shall,
however, be obligated to send to the Borrower a notice of default as soon as
practicable after the Borrower's failure to pay when due any principal of, Make
Whole Premium or interest on any obligation secured by any of the Collateral,
and to furnish the Borrower with a copy of any notice sent by it to the Lessee
with respect to any default under the Lease.

                  (h)      The Indenture Trustee shall have no duty to confirm
or verify any schedules setting forth the interest and principal payments to be
made on any Senior Secured Note or any financial or other statements or reports
or certificates furnished pursuant to any provision hereof, and, except as
otherwise provided hereby, it shall be under no other duty in respect of the
same, except to retain the same in its files, and permit the inspection thereof
at reasonable times by any Noteholder.

                                     - 42 -

<PAGE>

                  (i)      The Indenture Trustee shall not be concerned with or
accountable to any Person for the use or application of any deposited moneys
which shall be released or withdrawn in accordance with the provisions hereof or
of any property or securities or the proceeds thereof which shall be released
from the Lien of any of the Security Documents in accordance with the provisions
hereof or thereof.

                  (j)      The Indenture Trustee shall not be required to
ascertain or inquire as to the performance or observance of any of the covenants
or agreements herein contained, or contained in any other instruments, pledged
or assigned to the Indenture Trustee hereunder or under any of the Security
Documents, to be performed or observed by the Borrower or any party to any such
other instruments. The Indenture Trustee shall not be required to take notice or
be deemed to have notice or knowledge of any Indenture Event of Default (other
than a default in the payment of moneys to the Indenture Trustee which are
required to be paid to the Indenture Trustee on or before a specified date or
within a specified time after receipt by the Indenture Trustee of a notice or
certificate which was in fact received and except default in the delivery of any
certificate, opinion or other document expressly required to be delivered to the
Indenture Trustee by any provision hereof), unless (i) the Indenture Trustee
shall receive from the Borrower or the Noteholders a written notice stating that
an Indenture Event of Default has occurred and specifying the same, or (ii) a
Responsible Officer of the Indenture Trustee shall otherwise obtain actual
knowledge thereof, and in the absence of such notice or such actual knowledge,
the Indenture Trustee may conclusively assume that there is no such Indenture
Event of Default, except as aforesaid. Promptly after receiving knowledge
thereof, the Indenture Trustee shall notify the Noteholders and the Borrower of
any Indenture Event of Default, and if such Indenture Event of Default is
subsequently wholly cured or waived, the Indenture Trustee shall give written
notice to such effect to the Noteholders and the Borrower.

                  (k)      At the reasonable request of, and payment of copying
charges by, any Noteholder, the Indenture Trustee shall forward to each
Noteholder a copy of any financial report, notice, request, certificate or
communication submitted to the Indenture Trustee pursuant hereto unless the
Indenture Trustee has determined that any such Noteholder has actually received
the same.

                  (l)      Whenever the Indenture Trustee is required or allowed
under the provisions of any Operative Agreement to take (or to refrain from
taking) any action (other than any ministerial act) or to give or withhold any
consent or when the Required Holders deem it necessary or desirable for the
Indenture Trustee to take (or to refrain from taking) any action or to give or
withhold any consent under any Operative Agreement, the Indenture Trustee shall
take (or refrain from taking) such action or give or withhold such consent, only
upon, and as may be specified in, any written instructions delivered by the
Required Holders; provided, however, that the Indenture Trustee shall not be
required to take any such action if the Indenture Trustee shall have reasonably
determined, or shall have been advised by counsel, that such action (i) is
contrary to the terms hereof or of any document contemplated hereby to which the
Indenture Trustee is a party or is otherwise contrary to law or (ii) is likely
to result in liability on the part of the Indenture Trustee, unless the Required
Holders shall have provided to the Indenture Trustee

                                     - 43 -

<PAGE>

indemnification or security reasonably satisfactory to the Indenture Trustee
against all costs, expenses and liabilities arising from the Indenture Trustee's
taking such action.

                  (m)      Neither the Borrower nor a Noteholder shall direct
the Indenture Trustee to take or refrain from taking any action contrary to this
Indenture, nor shall the Indenture Trustee be obligated to follow any such
direction, if given.

                  (n)      In the event that the Indenture Trustee is unsure as
to the application of any provision of this Indenture, or such provision is
ambiguous as to its application, or is, or appears to be, in conflict with any
other applicable provision, or this Indenture permits any determination by the
Indenture Trustee or is silent or is incomplete as to the course of action which
the Indenture Trustee is required to take with respect to a particular set of
facts, the Indenture Trustee shall give written notice (in such form as shall be
appropriate under the circumstances) to each Noteholder, requesting instructions
as to the course of action to be adopted, and to the extent the Indenture
Trustee acts in good faith in accordance with written instructions received from
the Required Holders, the Indenture Trustee shall not be liable on account of
such action to any Person. If the Indenture Trustee shall not have received
appropriate instructions within fifteen days of such notice (or within such
shorter period of time as reasonably may be specified in such notice) it may,
but shall be under no duty to, take or refrain from taking such action, not
inconsistent with this Indenture, as it shall deem to be in the best interests
of the Noteholders, and shall have no liability to any Person for such action or
inaction.

         SECTION 9.3. RESIGNATION OF THE INDENTURE TRUSTEE. The Indenture
Trustee may resign and be discharged from the trust by giving written notice
thereof to each Noteholder and the Borrower (or any subsequent owner of the
Borrower's interest in any property included in the Collateral), specifying the
date (not less than sixty (60) days after such notice) when such resignation
shall take effect. Notwithstanding the foregoing, no such resignation shall take
effect until the appointment and acceptance of a successor trustee pursuant to
Section 9.4.

         SECTION 9.4. SUCCESSOR TRUSTEE. (a) The Indenture Trustee may be
removed at any time by notice from the Required Holders. If the Indenture
Trustee shall have given notice of its intention to resign, shall resign, be
removed or otherwise be incapable of acting, or if the Indenture Trustee shall
be taken under the control of any public officer or a receiver appointed by a
court, or be adjudged a bankrupt or insolvent, then a successor shall be
appointed by the Required Holders; provided, however, that the Borrower may
appoint a successor Indenture Trustee to act until such successor shall be so
appointed. The Borrower shall notify the Noteholders of any such appointment by
the Borrower, but any successor trustee so appointed by the Borrower shall
immediately and without further act be superseded by a successor trustee
appointed by the Noteholders as above provided. If no successor is appointed
within 60 days after notice of resignation, the Indenture Trustee may petition a
court of competent jurisdiction for the appointment of a successor Indenture
Trustee.

                  (b)      Any successor to the Indenture Trustee shall execute,
acknowledge and deliver to its predecessor and the Borrower (or any subsequent
owner of the Borrower's interest in the property included in the Collateral) an
instrument accepting such appointment, and

                                     - 44 -

<PAGE>

thereupon such successor, without any further act, deed or conveyance, shall
become vested with all the estate, properties, rights, powers, duties and trusts
of its predecessor in the trusts hereunder with like effect as if originally
named as trustee herein; provided, however, that upon payment of all amounts
owing to it such predecessor shall execute and deliver an instrument
transferring to such successor, upon the trusts expressed in this Indenture and
the Security Documents, such estate, properties, rights, powers, duties and
trusts and shall duly assign, transfer, deliver and pay over to such successor
any property and moneys subject to the Lien of the Security Documents and held
by such predecessor. The successor Indenture Trustee shall deliver to each
Noteholder and to the Borrower (or any subsequent owner of the Borrower's
interest in the property included in the Collateral) a copy of any such
instrument accepting appointment promptly after its execution thereof.

                  (c)      Any successor to the Indenture Trustee shall always
be a bank or trust company organized under the laws of the United States of
America or a state thereof, having, or being wholly owned by an entity having, a
combined capital, surplus and undivided profits (as shown by its most recent
financial statement published to its shareholders) aggregating at least five
hundred million dollars ($500,000,000).

                  (d)      Any Person into which the Indenture Trustee may be
merged or with which it may be consolidated, or any Person resulting from any
merger or consolidation or conversion to which it shall be a party, or any
Person to whom all or substantially all of its corporate trust business shall be
sold shall be the successor to the Indenture Trustee without the execution or
filing of any paper or any further act on the part of any of the parties hereto.

         SECTION 9.5. RELIANCE BY THE BORROWER. (a) All payments and notices
received by the Indenture Trustee in accordance with the terms of this Indenture
shall be deemed received by the Noteholders for purposes of determining
compliance by the Borrower with the terms hereof and of the other Operative
Agreements.

         (b)      All consents, waivers, releases, notices or other
communications to be delivered to the Borrower by the Noteholders pursuant to
the Operative Agreements shall be given only by the Indenture Trustee, acting at
the direction of the Required Holders, and be in accordance with the terms of
this Indenture, and no such consent of the Required Holders shall be of any
force or effect unless delivered by the Indenture Trustee in accordance with the
terms of this Indenture; and the Borrower may rely upon any such waiver, notice,
release or consent delivered by the Indenture Trustee.

         (c)      Any direction of the Noteholders or the Required Holders, as
the case may be, provided for in this Indenture shall be in writing and shall
become effective when delivered to the Indenture Trustee. Upon receipt of any
such direction from the Noteholders or the Required Holders, as the case may be,
the Indenture Trustee shall deliver to the Borrower promptly, in writing, the
consent, waiver, releases or other communication specified therein.

                                     - 45 -

<PAGE>

                                   ARTICLE 10

                            SUPPLEMENTAL INDENTURES

         SECTION 10.1. GENERAL. The Borrower and the Indenture Trustee may enter
into Supplemental Indentures as provided in this Article 10. The Indenture
Trustee may, in its discretion, decline to enter into any Supplemental Indenture
if the Indenture Trustee shall reasonably determine that the rights, duties or
immunities of the Indenture Trustee would be adversely affected. Whenever the
consent of any Noteholder shall be required for the execution of a Supplemental
Indenture, it shall be sufficient if the substance of the Supplemental Indenture
is consented to, not its particular form. The Indenture Trustee shall be
entitled to receive, at the expense of the Borrower, an opinion of counsel
stating that such Supplemental Indenture is authorized or permitted by the
Indenture and that all conditions precedent to such amendment have been
satisfied.

         SECTION 10.2. WITHOUT CONSENT OF NOTEHOLDERS. Supplemental Indentures
may be entered into without the consent of any Noteholder for any of the
following purposes:

                  (a)      to correct or amplify the description of any property
subject or intended to be subject to the Lien of the Security Documents;

                  (b)      to add property to the Collateral as permitted or
required by the Security Documents, or to grant additional property to the
Indenture Trustee; and

                  (c)      to increase obligations or duties owing to the
Indenture Trustee, or to surrender any of the Indenture Trustee's rights (in its
individual capacity) hereunder.

         SECTION 10.3. CONSENT OF ALL NOTEHOLDERS. Without the written consent
of the Noteholders of not less than one hundred percent (100%) in aggregate
Outstanding principal amount of the Senior Secured Notes of all Series, no
Supplemental Indenture shall:

                  (a)      impair the right of any Noteholder to receive the
payments and prepayments of principal, premium and interest on its Senior
Secured Notes as now provided, therein or herein;

                  (b)      permit the creation of any Lien or other encumbrance
on the property included in the Collateral except Permitted Liens or as
otherwise permitted hereunder or under the Security Documents, or deprive any
Noteholder of the benefit of the Lien hereof on the Collateral, except that any
Supplemental Indenture hereto which grants additional property to the Indenture
Trustee may grant such property subject to Permitted Liens; or

                  (c)      modify any of the percentages of the principal
amounts of the Senior Secured Notes the consent of the Noteholders of which are
required for any consent or direction hereunder.

                                     - 46 -

<PAGE>

         SECTION 10.4. CONSENT OF LESS THAN ALL NOTEHOLDERS. Except as otherwise
provided in Section 10.2 and 10.3, Supplemental Indentures may be entered into
for any purpose (including the issuance of any Series of the Expansion Notes)
with the consent of the Required Holders.

         SECTION 10.5. EXCHANGE; LEGEND OR NOTATION; EFFECT. (a) The Indenture
Trustee shall, at the Borrower's expense, promptly send to each Noteholder a
copy (conformed, executed or photostatic) of each Supplemental Indenture, but
the failure to do so shall not impair or affect its validity.

                  (b)      The Borrower or the Indenture Trustee may require
that the Senior Secured Notes bear a legend or other notation as to any matter
provided for in any Supplemental Indenture, or that new Senior Secured Notes be
issued in exchange for the Senior Secured Notes, as provided in Article 2, but
modified to conform to any modification effected by such Supplemental Indenture.
Any such legending, notation or exchange shall, if requested by the Borrower, be
at the cost and expense of the Borrower, and all legends, notations and
modifications shall be in form approved by the Indenture Trustee.

                  (c)      Upon the execution of any Supplemental Indenture,
this Indenture or the Security Documents, as the case may be, shall be modified
in accordance therewith, and such Supplemental Indenture shall form a part of
this Indenture or the Security Documents, as the case may be, for all purposes;
and every Noteholder of a Senior Secured Note theretofore or thereafter issued
and delivered hereunder shall be bound thereby.

         SECTION 10.6. CONSENTS IN WRITING. Any consent of the Noteholders
provided for in this Article 10 shall be embodied in or evidenced by one or any
number of concurrent instruments of substantially similar tenor and any such
consent shall become effective when such instrument or instruments are delivered
to the Indenture Trustee and the Borrower, if applicable.

                                   ARTICLE 11

                                 MISCELLANEOUS

         SECTION 11.1. AMENDMENTS, ETC., OF CERTAIN DOCUMENTS. Whenever the
agreement of the Indenture Trustee is required to any amendment, modification,
cancellation or termination of any of the Security Documents, or any other
document or instrument included in the Collateral, or whenever the Indenture
Trustee is required to give any consent, waiver or approval under any thereof,
the Indenture Trustee shall agree to such amendment, modification, cancellation
or termination, or give such consent, waiver or approval, with (but only with)
the prior written consent of the Required Holders; provided, however, that,
without the prior written consent of the Noteholders of all of the Outstanding
Senior Secured Notes of a Series affected thereby, the Indenture Trustee shall
not take any action which would (a) reduce, or extend the time of payment of,
the principal of or the premium, if any, or interest on any Senior Secured Note
or any installment thereof, except for the waiver of any Default or Event of
Default, which waiver shall require the consent of the Required Holders, or as
otherwise expressly provided herein, (b) permit the creation or existence of any
Lien, charge, encumbrance, pledge, conditional sale or other title

                                     - 47 -

<PAGE>

retention agreement, encroachment or other defect affecting any of the property
included in the Collateral except for Permitted Liens and except as otherwise
permitted hereunder, (c) have the effect of modifying the definition of the term
"LEASE EVENT OF DEFAULT" contained in the Lease, or the term "AGENCY AGREEMENT
EVENT OF DEFAULT" contained in the Facility Agency Agreement, (d) reduce or
otherwise modify or alter in the manner adverse to the Noteholders the
obligations of the Guarantor under the Guarantee, (e) reduce or otherwise modify
or alter in the manner adverse to the Noteholders the obligations of the
Construction Agent under Article VIII of the Facility Agency Agreement, (f)
alter, modify or amend any indemnities in favor, directly or indirectly, of any
Noteholder, the Collateral or the Indenture Trustee (including, without
limitation, indemnities provided for by Article 11 of the Participation
Agreement), (g) alter the amount or extend the time of payment by the Lessee
under any Lease, (h) modify, amend or supplement the Lease, the Bond Lease or
the Bond Sublease or consent to any assignment of the Lease, the Bond Lease or
the Bond Sublease, in either case, releasing the Lessee, the Bond Sublessor or
the Borrower, respectively, from their obligations in respect of payment of Rent
or any amounts payable in respect of a Casualty or Condemnation, or change the
absolute and unconditional character of such obligations as set forth in the
Lease, the Bond Lease or the Bond Sublease (except, in each case, as otherwise
expressly provided in the Lease, the Bond Lease or the Bond Sublease), (i)
deprive any Noteholder of the benefit of the Lien of any of the Security
Documents on the Collateral except as otherwise expressly provided herein, 0
reduce or otherwise modify or alter in the manner adverse to the Noteholders the
obligations of the Insurer under the Residual Value Policy or the Construction
Termination Policy or (k) modify or amend this Section 11.1.

         SECTION 11.2. EXECUTION OF INSTRUMENTS BY NOTEHOLDERS. Any request or
other instrument or action by any Noteholder of any Senior Secured Note shall
bind every prior and future Noteholder of the same Senior Secured Note and the
Noteholder of any Senior Secured Note issued in exchange therefor or in lieu
thereof in respect of anything done or suffered to be done by the Indenture
Trustee or the Borrower pursuant to such request or other instrument or action.

         SECTION 11.3. LIMITATION OF RIGHTS OF OTHERS. Nothing in this Indenture
is intended or shall be construed to give to any Person, other than the Borrower
(including its successors and assigns as owners of the Facility or any interest
therein), the Indenture Trustee and the Noteholders, any legal or equitable
right, remedy or claim under or in respect of this Indenture or any covenant,
condition or provision herein contained.

         SECTION 11.4. SEVERABILITY. In case any one or more of the provisions
contained herein or in any Senior Secured Notes shall be held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality or
unenforceability shall not affect any other provision hereof, and this Indenture
shall be construed as if such provision had never been contained herein or
therein.

         SECTION 11.5. NOTICES. All notices, demands, declarations,
designations, certificates, requests, offers, acceptances, consents, rejections,
approvals, appointments, directions, and other instruments and communications
given pursuant to this Indenture (collectively called "NOTICES") to any Person
shall be in writing and shall be deemed to have been given when (a) delivered to

                                     - 48 -

<PAGE>

that Person's Address in person, by mail, postage prepaid, by Federal Express or
other reliable 24-hour delivery service, or (b) received at that Person's fax
number, when sent via facsimile. From time to time any party may designate a new
Address or fax number for purposes of notice hereunder to each of the other
parties hereto. Any notice to be given by the Borrower to the Noteholders shall
be given to the Indenture Trustee at the address for notices specified below,
with a copy to Purchasers at their respective addresses for notices specified in
Schedule A to the Note Purchase Agreements. Notices to be given by the Indenture
Trustee to the Noteholders shall be given to the Noteholders at their respective
addresses appearing on the Register. The Indenture Trustee shall forward to each
Noteholder a copy of any notice or other communications received by the
Indenture Trustee. All Notices given hereunder shall be irrevocable unless
expressly specified otherwise.

         The term "ADDRESS" means:

         (A)      with respect to the Borrower, c/o Wilmington Trust Company,
1100 North Market Street Rodney Square North, Wilmington, Delaware 19890-0001;
Attention: Corporate Trust Administration, with a copy to the Investor, 115
South LaSalle, 12th Floor, Chicago, Illinois 60603, Attention: Asset Portfolio
Management; and

         (B)      with respect to the Indenture Trustee, State Street and Trust
         Company of Missouri, N.A., One Metropolitan Square, Suite 3900, 211
         North Broadway, St. Louis, Missouri 63102; Attention: Corporate Trust
         Department.

         Whenever in this Indenture the giving of Notice is required, the giving
thereof may be waived in writing at any time by the Person or Persons entitled
to receive such Notice. Except as in this Indenture otherwise expressly
provides, (x) this Indenture may not be modified except by an instrument in
writing executed by the Borrower and the Indenture Trustee, and (y) no
requirement hereof may be waived at any time except by a writing signed by the
party against whom such waiver is sought to be enforced, nor shall any waiver be
deemed a waiver of any subsequent breach or default.

         SECTION 11.6. MAXIMUM INTEREST PAYABLE. No provision of this Indenture
or any of the Senior Secured Notes shall require the payment or permit the
collection of interest in excess of the maximum permitted by law. If, upon the
payment of any portion of the Indebtedness under any Series of the Senior
Secured Notes, such payment would result in the payment of any interest in
excess of the maximum rate permitted by law, the portion of such payment that
would otherwise constitute such interest will be deemed to constitute an
involuntary prepayment of principal (to be applied in inverse order of maturity
and with respect to which no premium will be charged and no prepayment notice
will be required) as of the date paid. Upon notice of such principal prepayment,
the Indenture Trustee will reapply all subsequent payments made in respect of
the Indebtedness represented by such Series to principal (to be applied in
inverse order of maturity and with respect to which no premium will be charged
and no prepayment notice will be required) and interest to give effect to the
maximum interest rate then permitted by law. Upon each such partial prepayment
of principal, all payments of principal and interest which are thereafter due
and payable on such Series will be in such a manner that upon the due payment of

                                     - 49 -

<PAGE>

all remaining payments of principal and interest in respect hereof there will
have been paid to the Noteholder hereof the entire unpaid principal balance of
such Series, together with accrued interest thereon.

         SECTION 11.7. ACTION BY THE REQUIRED HOLDERS. If the Indenture Trustee
refuses to act hereunder or under any other Operative Agreement at the direction
of the Required Holders, the Required Holders may take such action instead of
the Indenture Trustee and any such action shall be deemed to be taken by the
Indenture Trustee hereunder or under such other Operative Agreement.

         SECTION 11.8. COUNTERPARTS. This Indenture may be executed in any
number of counterparts and each thereof shall be deemed to be an original; and
all such counterparts shall constitute but one and the same instrument.

         SECTION 11.9. SUCCESSORS AND ASSIGNS. All of the provisions herein
contained shall be binding upon and inure to the benefit of the respective
successors and assigns of the parties hereto, to the same extent as if each such
successor and assign were named as a party to this Indenture. Wherever used, the
singular shall include the plural, the plural shall include the singular and the
use of any gender shall include all genders.

         SECTION 11.10. TABLE OF CONTENTS, HEADINGS. The table of contents and
the headings appearing in this Indenture have been inserted for convenient
reference only and shall not modify, define, limit or expand the express
provisions of this Indenture.

         SECTION 11.11. GOVERNING LAW. THIS INDENTURE SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK EXCLUDING ALL
CHOICE OF LAW AND CONFLICT OF LAWS RULES THAT WOULD APPLY THE LAW OF ANY OTHER
STATE.

         SECTION 11.12. INCORPORATED SCHEDULES AND EXHIBITS. The following
Schedules and Exhibits are hereby incorporated by reference herein.

         SECTION 11.13. SECTION REFERENCES. Unless the context otherwise
requires, all references to sections, articles and subdivisions shall be to the
sections, articles and subdivisions of this Indenture.

                            [SIGNATURE PAGE FOLLOWS]

                                     - 50 -

<PAGE>

         IN WITNESS WHEREOF, MCI O'Fallon 1999 Trust, as the Borrower, by
WILMINGTON TRUST COMPANY, a Delaware banking corporation, not in its individual
capacity, but solely as Owner Trustee of the Borrower, has caused this Indenture
to be executed and delivered, and STATE STREET BANK AND TRUST COMPANY OF
MISSOURI, N.A., a national banking association, not in its individual capacity
except as expressly provided herein, but solely as Indenture Trustee hereunder
for the benefit of the Noteholders referred to herein, in token of its
acceptance of the trusts created hereunder, by its duly authorized officer, has
caused this Indenture to be executed and delivered, all as of the day and year
first above written.

                             MCI O'FALLON 1999 TRUST

                             By: Wilmington Trust Company, not in its
                                 individual capacity, but solely as Owner
                                 Trustee

                                 By: /s/ Sheila J. Wallbridge
                                    --------------------------------------
                                 Name: Sheila J. Wallbridge
                                 Title: Senior Financial Services Officer

                             STATE STREET BANK AND TRUST
                             COMPANY OF MISSOURI, N.A.
                             not in its individual rapacity except as expressly
                             provided herein as Indenture Trustee

                             By: /s/ BRIAN P. KRIPPNER
                                 ------------------------------------------
                             Name: BRIAN P. KRIPPNER
                             Title: VICE PRESIDENT

                                      S-1

<PAGE>

STATE OF MISSOURI)
                 ) ss.:
CITY OF ST. LOUIS)

         On this 30th of August, 1999, before me the undersigned, a Notary
Public in and for said County and State, personally appeared Sheila Wallbridge
personally known to me (or proved to me on the basis of satisfactory evidence)
to be the person who executed the within instrument as Senior Financial Services
Officer of Wilmington Trust Company, a Delaware banking corporation, the company
that executed the within instrument, not in its individual capacity, but solely
as the Owner Trustee of the Borrower under the Indenture, and acknowledged to me
that such company executed it.

                                             WITNESS my hand and official seal.

                                             /s/ Beth Ann Thomas
                                             -----------------------------------
                                             Notary Public

[SEAL]

        BETH ANN THOMAS
  Notary Public - Notary Seal
       STATE OF MISSOURI
        St. Louis County
My Commission Expires: Aug. 12, 2000

                                     - 1 -

<PAGE>

STATE OF MISSOURI)
                 ) ss.:
CITY OF ST. LOUIS)

         On this 30th of August, 1999, before me the undersigned, a Notary
Public in and for said County and State, personally appeared Brian Krippner
personally known to me (or proved to me on the basis of satisfactory evidence)
to be the person who executed the within instrument as authorized officer of
State Street Bank and Trust Company of Missouri, N.A., a national banking
association, the association that executed the within instrument, not in its
individual capacity but solely as the Indenture Trustee under this Indenture,
and acknowledged to me that said association executed it.

         IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year in this certificate first above written.

                                             /s/ Beth Ann Thomas
                                                 -------------------------------
                                                 Notary Public

[SEAL]

                                     - 2 -

<PAGE>

                                   EXHIBIT A-1

                                     FORM OF

                          SERIES A SENIOR SECURED NOTE

                        THIS NOTE HAS NOT BEEN REGISTERED
                        UNDER THE SECURITIES ACT OF 1933,
                        AS AMENDED (THE "1933 ACT"), AND
                       MAY NOT BE OFFERED FOR SALE OR SOLD
                       OR OTHERWISE TRANSFERRED EXCEPT IN
                        COMPLIANCE WITH THE 1933 ACT AND
                     THE RULES AND REGULATIONS THEREUNDER.

                             MCI O'FALLON 1999 TRUST

            7.36% SERIES A SENIOR SECURED NOTE Due September 1, 2009

No. R-___                                                      [ Date ]
$_______________________                                       PPN 55279 * AA 6

         MCI O'FALLON 1999 TRUST, a Delaware business trust (herein, together
with its successors and assigns, called "MAKER"), for value received hereby
promises to pay to [______________________________], a [___________________], or
registered assigns, the principal sum of [____________________________] DOLLARS
($____________________), as provided herein, together with interest (computed,
in arrears, on the basis of a 360-day year of twelve 30-day months) (a) on the
unpaid balance thereof, at the rate of 7.36% per annum (the "INTEREST RATE")
from the date hereof to and including the date paid, and (b) on any due and
unpaid payment (including any due and unpaid required or optional prepayment) of
principal, and to the extent permitted by law, any due and unpaid payment of
interest and any due and unpaid payment of any Make Whole Premium (as defined in
the Indenture referred to below), at the rate of the greater of (x) 9.36% per
annum or (y) 2% over the prime rate announced by The Chase Manhattan Bank (in
either case, the "OVERDUE RATE").

         This Note is one of Maker's 7.36% Series A Senior Secured Notes Due
September 1, 2009 (herein called the "NOTES") issued pursuant to the Indenture,
dated as of August 31, 1999 (herein called the "INDENTURE") from Maker, as the
Borrower, to State Street Bank and Trust Company of Missouri, N.A., a national
banking association, as Indenture Trustee for the benefit of the Noteholders,
and purchased pursuant to the Note Purchase Agreement dated as of August 31,
1999 (herein called the "NOTE PURCHASE AGREEMENT"), by and among Maker and the
Purchasers listed on Schedule A thereto (herein called the "PURCHASERS").
Capitalized terms used herein without definition shall have the meanings set
forth in Annex A to the Participation

                                     - 1 -

<PAGE>

Agreement, dated as of August 31, 1999 (herein called the "PARTICIPATION
AGREEMENT"), among MasterCard International Incorporated, a non-stock membership
corporation organized under the laws of the State of Delaware (herein called the
"LESSEE"), Maker, Wilmington Trust Company, BMO Global Capital Solutions, Inc.
(herein called the "INVESTOR"), the Indenture Trustee and the Purchasers. The
rules of usage set forth in such Annex A shall apply hereto.

         As used herein, the term "HOLDER" means [____________________] and each
person (if any) to which such named Holder sells or otherwise transfers this
Note or any Notes issued in exchange, substitution or replacement herefor in
accordance with the terms of the Indenture.

         SECTION 1. SECURITY. This Note is secured by a first priority Lien on
the Collateral. In addition, this Note shall also have the benefit, equally and
ratably, of guarantees by and undertakings of (i) the Guarantor to the extent
provided in the Guarantee, (ii) the Construction Agent, to the extent provided
in Article VIII of the Facility Agency Agreement and (iii) the Insurer to the
extent provided in (x) the Residual Value Policy and (y) the Construction
Termination Policy. Reference is hereby made to the Security Documents, the
Guarantee, the Residual Value Policy and the Construction Termination Policy for
a description of the security and insurance thereby granted, the nature and
extent of the security for the Notes, and the nature and extent of the
assignment and the rights of Holder and Maker in respect of the security or
otherwise.

         SECTION 2. PAYMENTS. Maker shall make all payments with respect to the
Notes to the Indenture Trustee as provided in Schedule B to the Indenture.
Except as provided in Section 2.2(d) of the Indenture, the principal of,
premium, if any, and interest on this Note shall be payable by the Indenture
Trustee to the holder of such Note at the payment offices of the Indenture
Trustee, located at State Street Bank and Trust Company, 2 Avenue de Lafayette,
5th floor, Boston, Massachusetts 02111-1724, Attention: Corporate Trust
Department, in lawful money of the United States of America, against
presentation of such Note for notation of the payment or prepayment made thereon
or, in the case of a payment or prepayment which shall discharge all
Indebtedness of the Borrower evidenced thereby, against surrender or assignment
thereof. Interest on this Note will be due and payable semiannually, on the
first day of September and March in each year, commencing on_________________,
and ending on the Maturity Date. The entire amount of unpaid principal, accrued
and unpaid interest and all other amounts payable under the Operative
Agreements, if any, will be due and payable in a final payment on the Maturity
Date or such earlier date as is provided for herein. The Indenture Trustee will
apply each payment made in respect of this Note in the manner and for the
purposes specified in the Indenture. Upon full payment of the entire
Indebtedness represented by this Note, the Holder will, at the option of Maker,
either (i) mark this Note "PAID IN FULL" and surrender this Note to the
Indenture Trustee for cancellation, or (ii) assign this Note to Maker's designee
without recourse to Holder. The outstanding principal and interest shown on the
books and records of the Indenture Trustee or the Holder will constitute prima
facie evidence of the principal and interest owing and unpaid under this Note.
However, any failure to record on the books or records of the Indenture Trustee
or Holder the date or amount of any disbursement or advance under any of the
Operative Agreements will not limit or otherwise affect Maker's obligation to
repay the principal

                                     - 2 -
<PAGE>

amount of such disbursements and advances, together with all interest accruing
thereon, as provided for in the Operative Agreements.

         SECTION 3. PREPAYMENT. This Note is subject to prepayment from time to
time only under the circumstances and in compliance with the terms and
conditions set forth in Article 7 of the Indenture.

         SECTION 4. LIMITATION ON INTEREST. If, upon the payment of any portion
of the Indebtedness represented by this Note, such payment would result in the
payment of any interest in excess of the maximum rate permitted by law, the
portion of such payment that would otherwise constitute such interest will be
deemed to constitute an involuntary prepayment of principal (to be applied in
inverse order of maturity and with respect to which no premium will be charged
and no prepayment notice will be required) as of the date paid. Upon notice of
such principal prepayment, the Indenture Trustee will reapply all subsequent
payments made in respect of the Indebtedness represented by this Note to
principal (to be applied in inverse order of maturity and with respect to which
no premium will be charged and no prepayment notice will be required) and
interest to give effect to the maximum interest rate then permitted by law. Upon
each such partial prepayment of principal, all payments of principal and
interest which are thereafter due and payable on this Note will be in such a
manner that upon the due payment of all remaining payments of principal and
interest in respect hereof there will have been paid to the Holder hereof the
entire unpaid principal balance of this Note, together with accrued interest
thereon.

         SECTION 5. REGISTER; TRANSFER AND EXCHANGE OF NOTES. This Note is
issuable only as a fully registered Note. Maker will deem and treat the person
in whose name this Note is registered on the Register as the absolute owner
hereof (whether or not this Note is overdue) for the purpose of receiving
payments of principal, premium and interest and for all other purposes, and
Maker will not be affected by any notice to the contrary. In accordance with the
provisions of the Indenture, this Note may be transferred only on the Register
at the Indenture Trustee's Office, and exchanged for a note or notes of other
denominations only of the same Series.

         SECTION 6. DEFAULTS; REMEDIES. Upon the occurrence of an Indenture
Event of Default, the Indenture Trustee, acting on behalf of Holder and the
other holders of Notes as provided in the Indenture, may (but shall not be
obligated to in the absence of directions from the Noteholders) exercise any and
all of the rights and remedies provided for under any and all of the Operative
Agreements or otherwise available at law or in equity. The Operative Agreements
provide, among other things, that upon an Indenture Event of Default the
Indenture Trustee may, among other things, accelerate the Maturity Date and
foreclose on the Collateral and in connection therewith the entire Indebtedness
represented by this Note, including, without limitation, the Make Whole Premium,
will automatically become due and payable by Maker.

         SECTION 7. COLLECTION COSTS. Should any Indebtedness represented by
this Note be collected at law or in equity, or in bankruptcy or other
proceedings, or should this Note be placed in the hands of attorneys for
collection after default, the undersigned agrees to pay, in addition to the
principal, Make Whole Premium, if any, and interest due and payable hereon, all
costs of

                                     - 3 -

<PAGE>

collecting or attempting to collect this Note, including reasonable attorneys'
fees and expenses (including those incurred in connection with any appeal),
whether or not any dispute as to the validity or enforceability of any provision
of the Notes or any of the Operative Agreements results in litigation and
whether or not any such litigation is prosecuted to judgment, unless judgment is
entered for Maker in any such enforcement or collection effort.

         SECTION 8. JOINT AND SEVERAL LIABILITY; WAIVER. Except as limited by
the provisions of Section 9, the undersigned and each other person that is or
becomes liable (whether voluntarily or by operation of law) for any obligation
of Maker under this Note hereby: (a) assumes liability for each obligation of
Maker under the Operative Agreements; and (b) waives all homestead and other
exemption rights, all valuation and appraisal rights, demand, presentment,
notice of nonpayment or dishonor, protest and lack of diligence or delay in
enforcement or collection of the Notes or any performance or payment obligation
of Maker under the Operative Agreements.

         SECTION 9. NONRECOURSE LIABILITY. (a) Notwithstanding any provision in
the Operative Agreements to the contrary, except as provided in clauses (b) and
(c) of this Section), it is expressly understood and agreed that if any suit is
instituted on this Note, any judgment obtained thereby shall be satisfied solely
out of the foreclosure and sale of the Collateral and/or suit on the Guarantee,
the Facility Agency Agreement, the Residual Value Policy and the Construction
Termination Policy. If a lesser sum is realized from such foreclosure, sale
and/or suit, neither Holder nor the Indenture Trustee will institute any action,
suit, claim or demand in law or equity against the other assets of Maker or
against Maker's managers, officers, directors, employees or the Investor, for or
on account of the deficiency or for any other matter with respect to Maker's
obligations hereunder or under any of the other Operative Agreements.

                  (b)      Nothing contained in clause (a) above will in any way
affect or impair: (i) the Lien of the Security Documents securing the entirety
of all amounts due under the Bonds, this Note and under the Indenture; (ii) the
Holder's rights under the Guarantee (including upon acceleration to receive the
entirety of all amounts due under this Note and under the Indenture), the
Facility Agency Agreement, the Residual Value Policy or the Construction
Termination Policy; (iii) Maker's liability for its obligations as landlord
under the Lease; (iv) Maker's liability for its obligations under Section
8.2(a), (d), (f), (i) and (1) of the Participation Agreement; or (v) the
Holder's and the Indenture Trustee's rights pursuant to the Lease, the
Assignment of Leases or any other Operative Agreement to institute actions,
suits, claims or demands in law or equity against the Lessee.

                  (c)      Further, the following, (x) in the case of clauses
(iii), (iv), (v), (vii), (ix) or (xi), if liability imposed thereby results from
any action of the Borrower directed by the Investor, and (y) in the case of all
other clauses, as provided therein, are excluded from the provisions of clause
(a), and the Indenture Trustee or Holder, as appropriate, may recover personally
against the other assets of Maker (but not against any assets of any manager,
officer, director or employee of the Borrower or the Investor or their personal
assets) for the following as aforesaid:

                                     - 4 -

<PAGE>

                           (i)      all actual losses, damages or liabilities
that the Noteholders suffer arising out of any fraud or willful or intentional
misrepresentation by Maker in connection with: (A) Maker's performance or
fulfillment of any of the conditions to or requirements for any advance of the
Indebtedness under the Senior Secured Notes; (B) the execution and delivery by
Maker of any of the documents evidencing or securing the Indebtedness under the
Senior Secured Notes; (C) the making of any representations or warranties by
Maker contained in the Operative Agreements; or (D) Maker's performance of any
of its obligations under the Operative Agreements;

                           (ii)     all rents and other revenues, payments or
reimbursements of any kind whatsoever (including all payments by the Lessee)
derived from the Facility and received by Maker at any time after Maker becomes
aware of any Indenture Event of Default (unless waived or cured pursuant to the
Indenture) or on deposit on the date Maker becomes so aware in one or more
accounts used by Maker or Maker's agents or representatives in connection with
the Facility, except to the extent permitted under the Indenture or otherwise
properly applied (as documented by evidence reasonably satisfactory to the
Required Holders) to the normal and customary expenses and operations of the
Facility, in each case pursuant to the Lease and the Security Documents;

                           (iii)    all security or other deposits and advance
rents collected by Maker and not properly applied in due course (as documented
by evidence reasonably satisfactory to the Required Holders);

                           (iv)     the replacement cost of any items of
personalty or any fixtures removed from the Facility by Maker and not replaced,
unless obsolete or permitted to be removed by the terms of the Lease, at any
time after Maker becomes aware of any Indenture Event of Default (unless waived
or cured pursuant to the Indenture);

                           (v)      all actual losses, damages and liabilities
that the Noteholders suffer arising from any acts of commission or omission by
Maker that result in waste upon the Collateral;

                           (vi)     any Net Proceeds that are misapplied by the
Borrower contrary to the terms hereof and of the Lease;

                           (vii)    all actual losses, damages and liabilities
that the Noteholders suffer arising from any of Maker's obligations as landlord
under the Lease;

                           (viii)   any amendment, modification, waiver or any
termination of the Bond Sublease, the Lease, the Residual Value Policy, the
Construction Termination Policy or the Facility Agency Agreement without the
consent of the Required Holders;

                           (ix)     any act or omission of Maker that vitiates
any coverage, or reduces any amount that might otherwise be payable, under (x)
any property (hazard) insurance policy required under the Operative Agreements
with respect to the Facility, (y) any provision for self-insurance or (z) the
Residual Value Policy or the Construction Termination Policy;

                                     - 5 -

<PAGE>

                           (x)      any Lien, other than Permitted Liens,
resulting from the action or inaction of Maker that is not required to be
indemnified by the Lessee;

                           (xi)     any environmental liability of Maker that is
not required to be indemnified by the Lessee; and

                           (xii)    the failure of Maker to conduct its business
in a manner sufficient to avoid consolidation with any of its Affiliates, except
with respect to the filing of consolidated Tax returns in accordance with the
Code and except as imposed by law under ERISA.

         SECTION 10. SEVERABILITY. If any provision of this Note shall be held
to be invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other provision hereof, and
this Note shall be construed as if such invalid, illegal or unenforceable
provision had never been contained herein.

         SECTION 11. CHOICE OF LAW; PERSONAL JURISDICTION. This Note shall be
governed by the laws of the State of New York excluding all choice of law and
conflict of laws rules that would apply the law of any other state. Maker hereby
consents and will submit to the jurisdiction and venue of New York courts and
the United States District Court for the Southern District of New York in
connection with any action or proceeding arising out of or relating to the
Notes.

         SECTION 12. AUTHENTICATION. This Note shall not be valid unless the
certificate of authentication hereon shall have been signed by the Indenture
Trustee.

                            [SIGNATURE PAGE FOLLOWS]

                                     - 6 -

<PAGE>

         IN WITNESS WHEREOF, Maker has caused this 7.36% Series A Senior Secured
Note due September 1, 2009 to be duly executed and delivered.

                               MCI O'FALLON 1999 TRUST, a Delaware
                               business trust

                               By: Wilmington Trust Company,
                                   a Delaware banking corporation, not in its
                                   individual capacity, but solely as Owner
                                   Trustee

                                   By:    ______________________________________
                                   Name:
                                   Title:

                                       S-1

<PAGE>

                                   EXHIBIT A-2

                                     FORM OF

                          SERIES B SENIOR SECURED NOTE

                        THIS NOTE HAS NOT BEEN REGISTERED
                        UNDER THE SECURITIES ACT OF 1933,
                        AS AMENDED (THE "1933 ACT"), AND
                       MAY NOT BE OFFERED FOR SALE OR SOLD
                       OR OTHERWISE TRANSFERRED EXCEPT IN
                        COMPLIANCE WITH THE 1933 ACT AND
                      THE RULES AND REGULATIONS THEREUNDER.

                             MCI O'FALLON 1999 TRUST

            ____% SERIES B SENIOR SECURED NOTE Due September 1, 2009

No.________                                                           [  Date  ]
$____________________                                                 PPN_______

         MCI O'Fallon 1999 Trust, a Delaware business trust (herein, together
with its successors and assigns, called "MAKER"), for value received hereby
promises to pay to [___________________________], a [______________________], or
registered assigns, the principal sum of [___________________________] DOLLARS
($____________________), as provided herein, together with interest (computed,
in arrears, on the basis of a 360-day year of twelve 30-day months) (a) on the
unpaid balance thereof, at the rate of__% per annum (the "INTEREST RATE") from
the date hereof to and including the date paid, and (b) on any due and unpaid
payment (including any due and unpaid required or optional prepayment) of
principal, and to the extent permitted by law, any due and unpaid payment of
interest and any due and unpaid payment of any Make Whole Premium (as defined in
the Indenture referred to below), at the rate of the greater of (x)_____% per
annum or (y) 2% over the prime rate announced by The Chase Manhattan Bank (in
either case, the "OVERDUE RATE").

         This Note is one of Maker's _____% Series B Senior Secured Notes Due
September 1, 2009 (herein called the "NOTES") issued pursuant to the Indenture,
dated as of August 31, 1999 (herein called the "INDENTURE") from Maker, as the
Borrower, to State Street Bank and Trust Company of Missouri, N.A., a national
banking association, as Indenture Trustee for the benefit of the Noteholders,
and purchased pursuant to the Note Purchase Agreement dated as of August 31,
1999 (herein called the "NOTE PURCHASE AGREEMENT"), by and among Maker and the
Purchasers listed on Schedule A thereto (herein called the "PURCHASERS").
Capitalized terms used herein without definition shall have the meanings set
forth in Annex A to the Participation

                                      S-1

<PAGE>

Agreement, dated as of August 31, 1999 (herein called the "PARTICIPATION
AGREEMENT"), among MasterCard International Incorporated, a non-stock membership
corporation organized under the laws of the State of Delaware (herein called the
"LESSEE"), Maker, Wilmington Trust Company, BMO Global Capital Solutions, Inc.
(herein called the "INVESTOR"), the Indenture Trustee and the Purchasers. The
rules of usage set forth in such Annex A shall apply hereto.

         As used herein, the term "HOLDER" means [____________________] and each
person (if any) to which such named Holder sells or otherwise transfers this
Note or any Notes issued in exchange, substitution or replacement herefor in
accordance with the terms of the Indenture.

         SECTION 1. SECURITY. This Note is secured by a first priority Lien on
the Collateral. In addition, this Note shall also have the benefit, equally and
ratably, of guarantees by and undertakings of (i) the Guarantor to the extent
provided in the Guarantee, (ii) the Construction Agent, to the extent provided
in Article VIII of the Facility Agency Agreement and (iii) the Insurer to the
extent provided in (x) the Residual Value Policy and (y) the Construction
Termination Policy. Reference is hereby made to the Security Documents, the
Guarantee, the Residual Value Policy and the Construction Termination Policy for
a description of the security and insurance thereby granted, the nature and
extent of the security for the Notes, and the nature and extent of the
assignment and the rights of Holder and Maker in respect of the security or
otherwise.

         SECTION 2. PAYMENTS. Maker shall make all payments with respect to the
Notes to the Indenture Trustee as provided in Schedule B to the Indenture.
Except as provided in Section 2.2(d) of the Indenture, the principal of,
premium, if any, and interest on this Note shall be payable by the Indenture
Trustee to the holder of such Note at the payment offices of the Indenture
Trustee, located at State Street Bank and Trust Company, 2 Avenue de Lafayette,
5th floor, Boston, Massachusetts 02111-1724, Attention: Corporate Trust
Department, in lawful money of the United States of America, against
presentation of such Note for notation of the payment or prepayment made thereon
or, in the case of a payment or prepayment which shall discharge all
Indebtedness of the Borrower evidenced thereby, against surrender or assignment
thereof. Interest on this Note will be due and payable semiannually, on the
first day of September and March in each year, commencing on_________________,
and ending on the Maturity Date. The entire amount of unpaid principal, accrued
and unpaid interest and all other amounts payable under the Operative
Agreements, if any, will be due and payable in a final payment on the Maturity
Date or such earlier date as is provided for herein. The Indenture Trustee will
apply each payment made in respect of this Note in the manner and for the
purposes specified in the Indenture. Upon full payment of the entire
Indebtedness represented by this Note, the Holder will, at the option of Maker,
either (i) mark this Note "PAID IN FULL" and surrender this Note to the
Indenture Trustee for cancellation, or (ii) assign this Note to Maker's designee
without recourse to Holder. The outstanding principal and interest shown on the
books and records of the Indenture Trustee or the Holder will constitute prima
facie evidence of the principal and interest owing and unpaid under this Note.
However, any failure to record on the books or records of the Indenture Trustee
or Holder the date or amount of any disbursement or advance under any of the
Operative Agreements will not limit or otherwise affect Maker's obligation to
repay the principal

                                      - 2 -

<PAGE>

amount of such disbursements and advances, together with all interest accruing
thereon, as provided for in the Operative Agreements.

         SECTION 3. PREPAYMENT. This Note is subject to prepayment from time to
time only under the circumstances and in compliance with the terms and
conditions set forth in Article 7 of the Indenture.

         SECTION 4. LIMITATION ON INTEREST. If, upon the payment of any portion
of the Indebtedness represented by this Note, such payment would result in the
payment of any interest in excess of the maximum rate permitted by law, the
portion of such payment that would otherwise constitute such interest will be
deemed to constitute an involuntary prepayment of principal (to be applied in
inverse order of maturity and with respect to which no premium will be charged
and no prepayment notice will be required) as of the date paid. Upon notice of
such principal prepayment, the Indenture Trustee will reapply all subsequent
payments made in respect of the Indebtedness represented by this Note to
principal (to be applied in inverse order of maturity and with respect to which
no premium will be charged and no prepayment notice will be required) and
interest to give effect to the maximum interest rate then permitted by law. Upon
each such partial prepayment of principal, all payments of principal and
interest which are thereafter due and payable on this Note will be in such a
manner that upon the due payment of all remaining payments of principal and
interest in respect hereof there will have been paid to the Holder hereof the
entire unpaid principal balance of this Note, together with accrued interest
thereon.

         SECTION 5. REGISTER; TRANSFER AND EXCHANGE OF NOTES. This Note is
issuable only as a fully registered Note. Maker will deem and treat the person
in whose name this Note is registered on the Register as the absolute owner
hereof (whether or not this Note is overdue) for the purpose of receiving
payments of principal, premium and interest and for all other purposes, and
Maker will not be affected by any notice to the contrary. In accordance with the
provisions of the Indenture, this Note may be transferred only on the Register
at the Indenture Trustee's Office, and exchanged for a note or notes of other
denominations only of the same Series.

         SECTION 6. DEFAULTS; REMEDIES. Upon the occurrence of an Indenture
Event of Default, the Indenture Trustee, acting on behalf of Holder and the
other holders of Notes as provided in the Indenture, may (but shall not be
obligated to in the absence of directions from the Noteholders) exercise any and
all of the rights and remedies provided for under any and all of the Operative
Agreements or otherwise available at law or in equity. The Operative Agreements
provide, among other things, that upon an Indenture Event of Default the
Indenture Trustee may, among other things, accelerate the Maturity Date and
foreclose on the Collateral and in connection therewith the entire Indebtedness
represented by this Note, including, without limitation, the Make Whole Premium,
will automatically become due and payable by Maker.

         SECTION 7. COLLECTION COSTS. Should any Indebtedness represented by
this Note be collected at law or in equity, or in bankruptcy or other
proceedings, or should this Note be placed in the hands of attorneys for
collection after default, the undersigned agrees to pay, in addition to the
principal, Make Whole Premium, if any, and interest due and payable hereon, all
costs of

                                      - 3 -

<PAGE>

collecting or attempting to collect this Note, including reasonable attorneys'
fees and expenses (including those incurred in connection with any appeal),
whether or not any dispute as to the validity or enforceability of any provision
of the Notes or any of the Operative Agreements results in litigation and
whether or not any such litigation is prosecuted to judgment, unless judgment is
entered for Maker in any such enforcement or collection effort.

         SECTION 8. JOINT AND SEVERAL LIABILITY; WAIVER. Except as limited by
the provisions of Section 9, the undersigned and each other person that is or
becomes liable (whether voluntarily or by operation of law) for any obligation
of Maker under this Note hereby: (a) assumes liability for each obligation of
Maker under the Operative Agreements; and (b) waives all homestead and other
exemption rights, all valuation and appraisal rights, demand, presentment,
notice of nonpayment or dishonor, protest and lack of diligence or delay in
enforcement or collection of the Notes or any performance or payment obligation
of Maker under the Operative Agreements.

         SECTION 9. NONRECOURSE LIABILITY. (a) Notwithstanding any provision in
the Operative Agreements to the contrary, except as provided in clauses (b) and
(c) of this Section), it is expressly understood and agreed that if any suit is
instituted on this Note, any judgment obtained thereby shall be satisfied solely
out of the foreclosure and sale of the Collateral and/or suit on the Guarantee,
the Facility Agency Agreement, the Residual Value Policy and the Construction
Termination Policy. If a lesser sum is realized from such foreclosure, sale
and/or suit, neither Holder nor the Indenture Trustee will institute any action,
suit, claim or demand in law or equity against the other assets of Maker or
against Maker's managers, officers, directors, employees or the Investor, for or
on account of the deficiency or for any other matter with respect to Maker's
obligations hereunder or under any of the other Operative Agreements.

                  (b)      Nothing contained in clause (a) above will in any way
affect or impair: (i) the Lien of the Security Documents securing the entirety
of all amounts due under the Bonds, this Note and under the Indenture; (ii) the
Holder's rights under the Guarantee (including upon acceleration to receive the
entirety of all amounts due under this Note and under the Indenture), the
Facility Agency Agreement, the Residual Value Policy or the Construction
Termination Policy; (iii) Maker's liability for its obligations as landlord
under the Lease; (iv) Maker's liability for its obligations under Section
8.2(a), (d), (f), (i) and (1) of the Participation Agreement; or (v) the
Holder's and the Indenture Trustee's rights pursuant to the Lease, the
Assignment of Leases or any other Operative Agreement to institute actions,
suits, claims or demands in law or equity against the Lessee.

                  (c)      Further, the following, (x) in the case of clauses
(iii), (iv), (v), (vii), (ix) or (xi), if liability imposed thereby results from
any action of the Borrower directed by the Investor, and (y) in the case of all
other clauses, as provided therein, are excluded from the provisions of clause
(a), and the Indenture Trustee or Holder, as appropriate, may recover personally
against the other assets of Maker (but not against any assets of any manager,
officer, director or employee of the Borrower or the Investor or their personal
assets) for the following as aforesaid:

                                      - 4 -

<PAGE>

                           (i)      all actual losses, damages or liabilities
that the Noteholders suffer arising out of any fraud or willful or intentional
misrepresentation by Maker in connection with: (A) Maker's performance or
fulfillment of any of the conditions to or requirements for any advance of the
Indebtedness under the Senior Secured Notes; (B) the execution and delivery by
Maker of any of the documents evidencing or securing the Indebtedness under the
Senior Secured Notes; (C) the making of any representations or warranties by
Maker contained in the Operative Agreements; or (D) Maker's performance of any
of its obligations under the Operative Agreements;

                           (ii)     all rents and other revenues, payments or
reimbursements of any kind whatsoever (including all payments by the Lessee)
derived from the Facility and received by Maker at any time after Maker becomes
aware of any Indenture Event of Default (unless waived or cured pursuant to the
Indenture) or on deposit on the date Maker becomes so aware in one or more
accounts used by Maker or Maker's agents or representatives in connection with
the Facility, except to the extent permitted under the Indenture or otherwise
properly applied (as documented by evidence reasonably satisfactory to the
Required Holders) to the normal and customary expenses and operations of the
Facility, in each case pursuant to the Lease and the Security Documents;

                           (iii)    all security or other deposits and advance
rents collected by Maker and not properly applied in due course (as documented
by evidence reasonably satisfactory to the Required Holders);

                           (iv)     the replacement cost of any items of
personalty or any fixtures removed from the Facility by Maker and not replaced,
unless obsolete or permitted to be removed by the terms of the Lease, at any
time after Maker becomes aware of any Indenture Event of Default (unless waived
or cured pursuant to the Indenture);

                           (v)      all actual losses, damages and liabilities
that the Noteholders suffer arising from any acts of commission or omission by
Maker that result in waste upon the Collateral;

                           (vi)     any Net Proceeds that are misapplied by the
Borrower contrary to the terms hereof and of the Lease;

                           (vii)    all actual losses, damages and liabilities
that the Noteholders suffer arising from any of Maker's obligations as landlord
under the Lease;

                           (viii)   any amendment, modification, waiver or any
termination of the Bond Sublease, the Lease, the Residual Value Policy, the
Construction Termination Policy or the Facility Agency Agreement without the
consent of the Required Holders;

                           (ix)     any act or omission of Maker that vitiates
any coverage, or reduces any amount that might otherwise be payable, under (x)
any property (hazard) insurance policy required under the Operative Agreements
with respect to the Facility, (y) any provision for self-insurance or (z) the
Residual Value Policy or the Construction Termination Policy;

                                      - 5 -

<PAGE>

                           (x)      any Lien, other than Permitted Liens,
resulting from the action or inaction of Maker that is not required to be
indemnified by the Lessee;

                           (xi)     any environmental liability of Maker that is
not required to be indemnified by the Lessee; and

                           (xii)    the failure of Maker to conduct its business
in a manner sufficient to avoid consolidation with any of its Affiliates, except
with respect to the filing of consolidated Tax returns in accordance with the
Code and except as imposed by law under ERISA.

         SECTION 10. SEVERABILITY. If any provision of this Note shall be held
to be invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other provision hereof, and
this Note shall be construed as if such invalid, illegal or unenforceable
provision had never been contained herein.

         SECTION 11. CHOICE OF LAW; PERSONAL JURISDICTION. This Note shall be
governed by the laws of the State of New York excluding all choice of law and
conflict of laws rules that would apply the law of any other state. Maker hereby
consents and will submit to the jurisdiction and venue of New York courts and
the United States District Court for the Southern District of New York in
connection with any action or proceeding arising out of or relating to the
Notes.

         SECTION 12. AUTHENTICATION. This Note shall not be valid unless the
certificate of authentication hereon shall have been signed by the Indenture
Trustee.

                            [SIGNATURE PAGE FOLLOWS]

                                      - 6 -

<PAGE>

         IN WITNESS WHEREOF, Maker has caused this ____% Series B Senior Secured
Note due September 1, 2009 to be duly executed and delivered.

                              MCI O'FALLON 1999 TRUST, a Delaware
                              business trust

                              By: Wilmington Trust Company,
                                  a Delaware banking corporation, not in its
                                  individual capacity, but solely as Owner
                                  Trustee

                                  By:    _______________________________________
                                  Name:
                                  Title:

                                      S-1

<PAGE>

                                    EXHIBIT B

                          CERTIFICATE OF AUTHENTICATION

              STATE STREET BANK AND TRUST COMPANY OF MISSOURI, N.A.

         This is one of the 7.36% Series A Senior Secured Notes due September 1,
2009 issued by MCI O'Fallon 1999 Trust, a Delaware business trust, described in
the within-mentioned Indenture.

                                           STATE STREET BANK AND TRUST
                                           COMPANY OF MISSOURI, N.A.
                                           as Indenture Trustee

                                           By: _________________________________
                                                 Name:
                                                 Title: Authorized Signatory

                                      - 1 -

<PAGE>

                                     ANNEX A

                         DEFINITIONS AND RULES OF USAGE

                                     - 1 -

<PAGE>

                                                                         Annex A

                         RULES OF USAGE AND DEFINITIONS

                                 Rules of Usage

                  The following rules of usage shall apply to this Annex A and
the Operative Agreements (and each appendix, schedule, exhibit and annex to the
foregoing) unless otherwise required by the context or unless otherwise defined
therein:

                  (a)      Except as otherwise expressly provided, any
         definitions defined herein or in any other document shall be equally
         applicable to the singular and plural forms of the terms defined.

                  (b)      Except as otherwise expressly provided, references in
         any document to articles, sections, paragraphs, clauses, annexes,
         appendices, schedules or exhibits are references to articles, sections,
         paragraphs, clauses, annexes, appendices, schedules or exhibits in or
         to such document.

                  (c)      The headings, subheadings and table of contents used
         in any document are solely for convenience of reference and shall not
         constitute a part of any such document nor shall they affect the
         meaning, construction or effect of any provision thereof.

                  (d)      References to any Person shall include such Person,
         its successors and permitted assigns and transferees.

                  (e)      Except as otherwise expressly provided, reference to
         any agreement means such agreement as amended, modified, extended or
         supplemented from time to time in accordance with the applicable
         provisions thereof.

                  (f)      Except as otherwise expressly provided, references to
         any law includes any amendment or modification to such law and any
         rules or regulations issued thereunder or any law enacted in
         substitution or replacement therefor.

                  (g)      When used in any document, words such as "hereunder",
         "hereto", "hereof" and "herein" and other words of like import shall,
         unless the context clearly indicates to the contrary, refer to the
         whole of the applicable document and not to any particular article,
         section, subsection, paragraph or clause thereof.

                  (h)      References to "including" means including without
         limiting the generality of any description preceding such term and for
         purposes hereof the rule of ejusdem generis shall not be applicable to
         limit a general statement, followed by or referable to an enumeration
         of specific matters, to matters similar to those specifically
         mentioned.
<PAGE>

                  (i)      Each of the parties to the Operative Agreements and
         their counsel have reviewed and revised, or requested revisions to, the
         Operative Agreements, and the usual rule of construction that any
         ambiguities are to be resolved against the drafting party shall be
         inapplicable in the construction and interpretation of the Operative
         Agreements and any amendments or exhibits thereto.

                                   Definitions

                  "Acceleration Date" shall have the meaning specified in
         Section 8.2(b) of the Indenture.

                  "Affiliate" of any Person shall mean, (a) any Person (other
         than a Subsidiary) which, directly or indirectly, is in control of, is
         controlled by, or is under common control with such Person, or (b) any
         Person who is a director or officer (i) of such Person, (ii) of any
         Subsidiary of such Person, or (iii) of any Person described in clause
         (a) above. For purposes of this definition, control of a Person shall
         mean the power, direct or indirect, either to (A) vote 10% or more of
         the securities having ordinary voting power for the election of
         directors of such Person, or (B) direct or cause the direction of the
         management and policies of such Person whether by contract or
         otherwise; provided however, that the Trust Company shall not be deemed
         to be an Affiliate of the Trust, the Indenture Trustee, the Investor or
         the Lessee.

                  "After Tax Basis" shall mean, with respect to any payment to
         be received, the amount of such payment increased so that, after
         deduction of the amount of all Taxes required to be paid by the
         recipient (less any tax savings realized and the present value of any
         tax savings projected to be realized by the recipient as a result of
         the payment of the indemnified amount) with respect to the receipt by
         the recipient of such amounts, such increased payment (as so reduced)
         is equal to the payment otherwise required to be made.

                  "Agency Agreement Event of Default" shall have the meaning
         specified in Section 5.1 of the Facility Agency Agreement.

                  "Amendment" with respect to the Indenture, shall have the
         meaning specified in Section 8.10(f)(i) of the Indenture.

                  "Appraisal" shall mean, with respect to the Facility, an
         appraisal, prepared by a reputable independent appraiser reasonably
         acceptable to the Indenture Trustee, the Required Holders and the
         Investor, of the Facility as if improved in accordance with the Plans
         and Specifications for the Facility, which in the judgment of counsel
         to the Noteholders, as of the Closing Date, complies with all of the
         provisions of the Financial Institutions Reform, Recovery and
         Enforcement Act of 1989, as amended, the rules and regulations adopted
         pursuant thereto, and all other applicable Legal Requirements. The
         appraisal shall state the amount of the Projected Completion Value of
         the Facility and an estimate of the value thereof at the end of the
         Term of the Lease.

                                      - 2 -

<PAGE>

                  "Appraisal Procedure" shall have the meaning set forth in
         Section 10.6 of the Lease.

                  "Appurtenant Rights" shall mean (i) all agreements, easements,
         rights of way or use, rights of ingress or egress, privileges,
         appurtenances, tenements, hereditaments and other rights and benefits
         at any time belonging or pertaining to the Land or the Improvements,
         including, without limitation, the use of any streets, ways, alleys,
         vaults or strips of land adjoining, abutting, adjacent or contiguous to
         the Land and (ii) all permits, licenses and rights, whether or not of
         record, appurtenant to the Land.

                  "Arranger" shall mean Chase Securities Inc.

                  "Assignment of Bond Lease" shall mean the Assignment of Bond
         Lease, Rents and Profits, dated as of August 31, 1999, in the form of
         Exhibit B-1 to the Participation Agreement, from the Board to the Bond
         Trustee for the benefit of the Bondholders.

                  "Assignment of Bond Sublease" shall mean the Assignment of
         Bond Sublease, Rents and Profits, dated as of August 31, 1999, in the
         form of Exhibit B-1 to the Participation Agreement, from the Bond
         Sublessor to the Bond Trustee for the benefit of the Bondholders.

                  "Assignment of Lease" shall mean the Assignment of Lease,
         Rents and Profits, dated as of August 31, 1999, in the form of Exhibit
         B-1 to the Participation Agreement, from the Lessor to the Bond Trustee
         for the benefit of the Bondholders.

                  "Bankruptcy Code" shall mean the Bankruptcy Reform Act of
         1978, as amended.

                  "Basic Rent" shall mean, the sum of (i) the Series A Basic
         Rent, (ii) the Series B Basic Rent, if any, and (iii) the Investor
         Yield, calculated as of the applicable date on which Basic Rent is due.

                  "Board" shall have the meaning specified in Section 1 of the
         Participation Agreement.

                  "Bond Deed of Trust" shall mean the Deed of Trust, dated
         August 31, 1999, in the form of Exhibit E to the Participation
         Agreement, made by the Board to the trustee named therein for the
         benefit of the Bond Trustee.

                  "Bond Default" shall mean any event or condition which, with
         the lapse of time or the giving of notice, or both, would constitute a
         Bond Event of Default.

                  "Bond Documents" shall mean the Bond Indenture, the Bonds, the
         Bond Lease, the Bond Sublease, the Memorandum of Bond Lease, the
         Memorandum of Bond Sublease, the Assignment of Bond Lease, the
         Assignment of Bond Sublease, the Assignment of Lease, the Bond Deed of
         Trust, the Leasehold Deeds of Trust, the Bond Trustee Financing
         Statements and all other documents, instruments and certificates

                                      - 3 -

<PAGE>

         executed and delivered in connection with any of the foregoing.

                  "Bond Event of Default" shall mean any event or condition
         defined as an "Event of Default" in Section 901 of the Bond Indenture.

                  "Bondholder" shall mean a Person in whose name a Bond is
         registered in the register of Bonds maintained by the Bond Trustee
         pursuant to the Bond Indenture.

                  "Bond Indenture" shall mean the Trust Indenture, dated as of
         August 31, 1999, from the Board to the Bond Trustee.

                  "Bond Lease" shall mean the Bond Lease, dated as of August
         31, 1999, between the Board and the Bond Sublessor.

                  "Bonds" shall have the meaning specified in Section 1 of the
         Participation Agreement.

                  "Bond Sublease" shall mean the Bond Sublease, dated as of
         August 31, 1999, between the Bond Sublessor and the Lessor.

                  "Bond Sublessor" shall mean the O'Fallon Public Facilities
         Authority, a non-profit corporation organized under the laws of the
         State of Missouri.

                  "Bond Trustee" shall mean State Street Bank and Trust Company
         of Missouri, N.A., a national banking association, as the trustee under
         the Bond Indenture, or any successor trustee appointed in accordance
         with the terms of the Bond Indenture.

                  "Bond Trustee Financing Statements" shall mean UCC financing
         statements appropriately completed and executed for filing in the
         appropriate state and county offices in the State of Missouri and each
         other jurisdiction in which any part of the collateral for the Bonds is
         located, in order to perfect a security interest in favor of the Bond
         Trustee, for the benefit of the Bondholders, in the Equipment, the Bond
         Documents or any other part of the collateral for the Bonds.

                  "Borrower" shall mean the Lessor, in its capacity of borrower
         under the Note Documents.

                  "Budget" shall mean the estimated Facility Costs to be
         incurred in connection with the development and construction of the
         Facility, attached as Schedule I to the Facility Agency Agreement, as
         modified from time to time in accordance with the terms of the Facility
         Agency Agreement.

                  "Business Day" shall mean any day other than a Saturday,
         Sunday or other day on which commercial banks in New York City, Boston,
         Massachusetts, Wilmington, Delaware or St. Louis, Missouri are
         authorized or required by law to close.

                                      - 4 -

<PAGE>

                  "Capital Lease" shall mean, as applied to any Person, any
         lease of any property (whether real, personal or mixed) by that Person
         as lessee which, in conformity with GAAP, is, or is required to be,
         accounted for as a capital lease on the balance sheet of that Person.

                  "Capitalized Lease Obligations" shall mean all obligations
         under Capital Leases of any Person, in each case taken at the amount
         thereof accounted for as liabilities in accordance with GAAP.

                  "Casualty" shall mean any damage or destruction of all or any
         portion of the Facility as a result of fire or other casualty.

                  "CERCLA" shall mean the Comprehensive Environmental Response,
         Compensation, and Liability Act of 1980, 42 U.S.C.Sections 9601 et
         seq., as amended by the Superfund Amendments and Reauthorization Act of
         1986.

                  "Certificate" shall mean a certificate issued pursuant to the
         Trust Agreement to evidence an investment in the beneficial ownership
         of the Trust Estate, and shall include any certificate issued in
         exchange therefor or replacement thereof.

                  "Certifying Party" shall have the meaning specified in Section
         14.8 of the Lease.

                  "Claims" shall mean any and all actions, suits, penalties,
         claims, demands, liabilities, losses, costs and expenses (including
         reasonable attorney's fees and expenses) of any nature whatsoever.

                  "Closing" shall have the meaning specified in Section 4(a) of
         the Series A Note Purchase Agreement.

                  "Closing Date" shall mean August 31, 1999.

                  "Code" shall mean the Internal Revenue Code of 1986, as
         amended from time to time.

                  "Collateral" shall mean all assets of the Lessor and the
         respective right, title and interest of the Lessor, the Board and the
         Bond Sublessor in the Facility, all Appurtenant Rights, all proceeds
         thereof and all other amounts derived therefrom, whether now owned or
         hereafter acquired, and all other property upon which at any time a
         Lien is created or purported to be created by the Security Documents.

                  "Commonly Controlled Entity" an entity, whether or not
         incorporated, which is under common control with the Lessee within the
         meaning of Section 4001 of ERISA or is part of a group which includes
         the Lessee and which is treated as a single employer under Section 414
         of the Code.

                  "Completion" shall mean, with respect to the Improvements to
         be constructed on

                                      - 5 -

<PAGE>

         the Land, together with all infrastructure and appurtenances, which are
         to form the Facility, as contemplated by the Operative Agreements, the
         substantial completion of the Facility in accordance with the Plans and
         Specifications and in compliance with all Facility Requirements and the
         Facility Agency Agreement, as evidenced by the delivery of
         certifications to the Indenture Trustee by the Construction Agent, the
         Lessee and the architects and engineers for the Facility, together with
         such other documents as the Indenture Trustee may reasonably request.

                  "Completion Date" shall mean the date on which Completion has
         occurred.

                  "Condemnation" shall mean any taking or sale of the use,
         access, occupancy, easement rights or title to the Facility or any part
         thereof, wholly or partially (temporarily or permanently), by or on
         account of any actual eminent domain proceeding or other taking of
         action by any Person having the power of eminent domain, including an
         action by a Governmental Authority to change the grade of, or widen the
         streets adjacent to, the Facility, or alter the pedestrian or vehicular
         traffic flow to the Facility so as to result in a change in access to
         the Facility, or by or on account of an eviction by paramount title or
         any transfer made in lieu of any such proceeding or action, but
         excluding the creation of US40/61 Interchange and outer road access to
         the Facility by the Missouri Highway and Transportation Commission
         ("MHTC") in accordance with the Cooperation Agreement, dated August 31,
         1999, by and between the Board and MHTC.

                  "Confidential Information" shall have the meaning specified in
         Section 12.10 of the Series A Note Purchase Agreement.

                  "Consent to Assignment" shall mean the Lessee's Consent to
         Assignment, dated as of August 31, 1999, in the form of Exhibit B-1 to
         the Participation Agreement, from the Lessee to the Bond Trustee.

                  "Consent to Bond Lease Assignment" shall mean the Lessee's
         Consent to Bond Lease Assignment, dated as of August 31, 1999, in the
         form of Exhibit B-1 to the Participation Agreement, from the Bond
         Sublessor to the Bond Trustee.

                  "Consent to Bond Sublease Assignment" shall mean the Lessee's
         Consent to Bond Sublease Assignment, dated as of August 31, 1999, in
         the form of Exhibit B-1 to the Participation Agreement, from the Lessor
         to the Bond Trustee.

                  "Consent to Facility Contracts Assignment" shall mean (a) with
         respect to the Construction Contract, the Construction Manager's
         Consent to the Facility Contacts Assignment, dated as of August 31,
         1999, from the Construction Manager to the Indenture Trustee, and (b)
         with respect to any other Facility Contract, consent of the parties
         thereto, dated as of the date of such Facility Contract, to the
         Facility Contracts Assignment.

                  "Consent to Leasehold Deed of Trust" shall mean (a) the
         Board's Consent to

                                      - 6 -

<PAGE>

         Leasehold Deed of Trust with respect to the Bond Lease, dated as of
         August 31, 1999, from the Board to the Bond Trustee, or (b) the Bond
         Sublessor's Consent to Leasehold Deed of Trust with respect to the Bond
         Sublease, dated as of August 31, 1999, from the Bond Sublessor to the
         Bond Trustee, in each case in the form of Exhibit B-2 to the
         Participation Agreement, or both, as the context requires.

                  "Consolidated Net Income" shall mean, for any period, the net
         income or net loss of the Lessee for such period, determined in
         accordance with GAAP on a consolidated basis, as reflected in the
         financial statements furnished to the Indenture Trustee in accordance
         with Sections 9.1 (a) and 9.1 (b) of the Guarantee.

                  "Consolidated Net Worth" shall mean, with respect to any
         Person and as of any date of determination, all items which in
         conformity with GAAP would be included under shareholders' equity on a
         consolidated balance sheet of such Person at such date.

                  "Construction Agent" shall mean MasterCard International
         Incorporated, a non-stock membership corporation organized under the
         laws of the State of Delaware, as construction agent under the Facility
         Agency Agreement.

                  "Construction Commencement Date" shall mean the date on which
         construction of the Improvements to be built on the Land commences.

                  "Construction Contract" shall mean the Construction Agreement
         dated as of August 31, 1999 between the Construction Agent and Paric
         Corporation, a Missouri corporation, as Construction Manager
         thereunder.

                  "Construction Period" shall mean the period commencing on the
         Closing Date and ending on the earlier to occur of (i) the Completion
         Date and (ii) the Outside Completion Date.

                  "Construction Termination Amount" shall mean, as of the date
         on which the Construction Agent shall pay the Construction Termination
         Amount to the Indenture Trustee pursuant to Section 8.2(b) of the
         Facility Agency Agreement, 89.99% of the excess of (x) the Facility
         Costs over (y) Non-Capitalized Transaction Expenses, in each case,
         incurred through, and including, such date.

                  "Construction Termination Policy" shall mean a Construction
         Termination Policy, dated as of August 31, 1999, in the form of Exhibit
         F-3 to the Participation Agreement, issued by the Insurer to the
         Indenture Trustee for the benefit of the Noteholders.

                  "Contingent Obligations" shall mean, as to any Person, any
         obligation of such Person guaranteeing or in effect guaranteeing any
         Indebtedness, leases, dividends or other obligations ("primary
         obligations") of any other Person (the "primary obligor") in any
         manner, whether directly or indirectly, including, without limitation,
         any obligation of such Person, whether or not contingent (a) to
         purchase any such primary obligation or any property constituting
         direct or indirect security therefor, (b) to advance or supply

                                      - 7 -

<PAGE>

         funds (i) for the purchase or payment of any such primary obligation or
         (ii) to maintain working capital or equity capital of the primary
         obligor or otherwise to maintain the net worth or solvency of the
         primary obligor, (c) to purchase property, securities or services
         primarily for the purpose of assuring the owner of any such primary
         obligation of the ability of the primary obligor to make payment of
         such primary obligation or (d) otherwise to assure or hold harmless the
         owner of any such primary obligation against loss in respect thereof;
         provided, however, that the term Contingent Obligation shall not
         include endorsements of instruments for deposit or collection in the
         ordinary course of business. The amount of any Contingent Obligation
         shall be deemed to be an amount equal to the stated or determinable
         amount (based on the maximum reasonably anticipated net liability in
         respect thereof as determined by such Person in good faith) of the
         primary obligation or portion thereof in respect of which such
         Contingent Obligation is made or, if not stated or determinable, the
         maximum reasonably anticipated net liability in respect thereof
         (assuming such Person is required to perform thereunder) as determined
         by such Person in good faith.

                  "Contractual Obligation" shall mean, as to any Person, any
         provision of any security issued by such Person or of any agreement,
         instrument or other undertaking to which such Person is a party or by
         which it or any of its property is bound.

                  "Default" shall mean any event or condition which, with the
         lapse of time or the giving of notice, or both, would constitute an
         Event of Default.

                  "Disbursement Request" shall have the meaning specified in
         Section 5(a) of the Escrow Agreement.

                  "Dollars" and "$" shall mean dollars in lawful currency of the
         United States of America.

                  "Employee Benefit Plan" shall mean an employee benefit plan
         (within the meaning of Section 3(3) of ERISA, including any
         multiemployer plan (within the meaning of Section 3(37)(A) of ERISA)),
         or any "plan" as defined in Section 4975(e)(1) of the Code and as
         interpreted by the Internal Revenue Service and the Department of Labor
         in rules, regulations, releases or bulletins in effect on the Closing
         Date.

                  "Environmental Audit" shall mean a Phase I environmental audit
         of the Facility and such additional environmental studies or audits
         recommended by such Phase I, prepared by the Environmental Engineer.

                  "Environmental Engineer" shall mean Environmental Operations,
         Inc., a Missouri corporation.

                  "Environmental Law" shall mean, whenever enacted or
         promulgated, any federal, state, county or local law, statute,
         ordinance, code, rule, regulation, license, permit, authorization,
         approval, covenant, administrative or court order, judgment, decree,

                                      - 8 -

<PAGE>

         injunction, code or requirement or any agreement with a Governmental
         Authority applicable to the Facility:

                  (x)      relating to pollution (or the cleanup, removal,
         remediation or encapsulation thereof, or any other response thereto),
         or the regulation or protection of human health, safety or the
         environment, including air, water vapor, surface water, groundwater,
         drinking water, land (including surface or subsurface), plant, aquatic
         and animal life, or

                  (y)      concerning exposure to, or the use, containment,
         storage, recycling, treatment, generation, discharge, emission, Release
         or threatened Release, transportation, processing, handling, labeling,
         containment, production, disposal or remediation of any Hazardous
         Substance, Hazardous Condition or Hazardous Activity,

         in each case as amended and as now or hereafter in effect, and any
         common law or equitable doctrine (including, without limitation,
         injunctive relief and tort doctrines such as negligence, nuisance,
         trespass and strict liability) that may impose liability or obligations
         for injuries (whether personal or property) or damages due to or
         threatened as a result of the presence of, exposure to, or ingestion
         of, any Hazardous Substance, whether such common law or equitable
         doctrine is now or hereafter recognized or developed. Applicable laws
         include CERCLA; the Resource Conservation and Recovery Act of 1976,42
         U.S.C. Section 6901 et seq.; the Federal Water Pollution Control Act,
         33 U.S.C. Section 1251 et seq.; the Clean Air Act, 42 U.S.C. Sections
         7401 et seq.; the National Environmental Policy Act, 42 U.S.C. Section
         4321; the Refuse Act, 33 U.S.C. Sections 401 et seq.; the Hazardous
         Materials Transportation Act of 1975,49 U.S.C. Section 1801-1812; the
         Toxic Substances Control Act, 15 U.S.C. Section 2601 et seq.; the
         Federal Insecticide, Fungicide, and Rodenticide Act, 7 U.S.C. Sections
         136 et seq.; the Safe Drinking Water Act, 42 U.S.C. Sections 300 f et
         seq.; and the Occupational Safety and Health Act of 1970, and their
         state and local counterparts or equivalents.

                  "Environmental Violation" shall mean any activity, occurrence
         or condition that violates or results in non-compliance with any
         Environmental Law or results in a written complaint or other written
         claim from a Governmental Authority with respect to any applicable
         Environmental Law.

                  "Equipment" shall mean equipment, apparatus, furnishings,
         fittings and personal property of every kind and nature whatsoever
         purchased, leased or otherwise acquired by using the proceeds of the
         Notes or the Investor Contribution and now or subsequently attached to,
         contained in or used or usable in any way in connection with any
         operation or letting of the Facility, including all screens, awnings,
         shades, blinds, curtains, draperies, artwork, toilets, carpets, rugs,
         storm doors and windows, shelving, furniture and furnishings, heating,
         electrical, and mechanical equipment, lighting, switchboards, plumbing,
         ventilation, air conditioning and air-cooling apparatus, refrigerating
         and incinerating equipment, escalators, elevators, loading and
         unloading equipment and

                                      - 9 -

<PAGE>

         systems, stoves, ranges, laundry equipment, cleaning systems (including
         window cleaning apparatus), telephones, communication systems
         (including satellite dishes and antennae), televisions, computers,
         sprinkler systems and other fire prevention and extinguishing apparatus
         and materials, security systems, motors, engines, machinery, pipes,
         pumps, tanks, conduits, appliances, fittings and fixtures of every kind
         and description.

                  "ERISA Affiliate" shall mean, with respect to any Person, each
         entity required to be aggregated with such Person pursuant to the
         requirements of Section 414(b) or (c) of the Code.

                  "ERISA" shall mean the Employee Retirement Income Security Act
         of 1974, as amended from time to time.

                  "Escrow Account" shall have the meaning specified in Section
         2.1 of the Escrow Agreement.

                  "Escrow Agent" shall mean State Street Bank and Trust Company
         of Missouri, N.A., a national banking association, in its capacity as
         Escrow Agent under the Escrow Agreement.

                  "Escrow Agreement" shall mean the Escrow Agreement, dated as
         of August 31, 1999, in the form of Exhibit A-1 to the Participation
         Agreement, among the Escrow Agent, the Indenture Trustee and the
         Lessor.

                  "Escrowed Funds" shall have the meaning specified in Section
         2.1 of the Escrow Agreement.

                  "Event of Default" shall mean a Lease Event of Default, an
         Indenture Event of Default, an Agency Agreement Event of Default, a
         Bond Event of Default and any default by the Guarantor under the
         Guarantee.

                  "Event of Loss" shall mean, with respect to the Facility (a) a
         Total Loss or (b) a Total Condemnation.

                  "Excepted Payments" shall mean:

                  (a)      all indemnity payments (including indemnity payments
         made pursuant to Section 11 of the Participation Agreement) to which
         any Indemnified Person is entitled;

                  (b)      any amounts (other than Basic Rent, Termination
         Value, Construction Termination Amount or Maximum Residual Guarantee
         Amount) payable under any Operative Agreement to reimburse the Trust
         Company, the Investor, or any of their respective Affiliates (including
         the reasonable expenses of the Trust Company and the Investor incurred
         in connection with any such payment) for performing or complying with
         any of the obligations of the Lessee under and as permitted by any
         Operative

                                     - 10 -

<PAGE>

         Agreement;

                  (c)      any amount payable to the Investor by any transferee
         of the interest of the Investor as the purchase price of the Investor's
         interest in the Trust Estate (or a portion thereof);

                  (d)      any insurance proceeds (or payments with respect to
         risks self-insured or policy deductibles) under liability and title
         policies other than such proceeds or payments payable to the Lessee or
         the Indenture Trustee;

                  (e)      any insurance proceeds under policies maintained by
         the Trust Company or the Investor;

                  (f)      Transaction Expenses or other amounts or expenses
         paid or payable to or for the benefit of the Board, the Bond Sublessor,
         the Trust Company or the Investor;

                  (g)      all right, title and interest of the Board, the Bond
         Sublessor, the Investor or the Trust Company to the Facility, any
         portion thereof or any other property to the extent any of the
         foregoing has been released pursuant to the Indenture from the Liens of
         the Security Documents and not otherwise purchased by the Lessee or a
         third party pursuant to the terms of the Lease;

                  (h)      any payments in respect of interest to the extent
         attributable to payments referred to in clauses (a) through (g) above;
         and

                  (i)      any rights of the Investor or the Trust Company to
         demand, collect, sue for or otherwise receive and enforce payment of
         any of the foregoing amounts.

                  "Excepted Rights" shall mean the rights retained by the
         Borrower pursuant to Section 8.10 of the Indenture.

                  "Expansion Notes" shall have the meaning specified in the
         recitals to the Indenture.

                  "Expiration Date" shall mean the final day of the Term.

                  "Facility" shall mean the Land as more particularly described
         on Schedule A to the Participation Agreement, together with all of the
         Improvements at any time located on or under such Land and all
         Appurtenant Rights at any time belonging or pertaining to the Land or
         the Improvements.

                  "Facility Agency Agreement" shall mean the Facility Agency
         Agreement, dated as of August 31, 1999, in the form of Exhibit A-3 to
         the Participation Agreement, between the Construction Agent and the
         Lessor.

                                     - 11 -

<PAGE>

                  "Facility Beneficiaries" shall have the meaning specified in
         Section 1.1 of the Facility Agency Agreement.

                  "Facility Contracts Assignment" shall mean the Assignment of
         Facility Contracts, dated as of August 31, 1999, in the form of Exhibit
         C to the Participation Agreement, from the Construction Agent to the
         Indenture Trustee for the benefit of the Noteholders.

                  "Facility Contracts" shall have the meaning specified in
         Section 2.2 of the Facility Agency Agreement.

                  "Facility Costs" shall mean all costs and expenses of any kind
         or character incurred by the Construction Agent or otherwise expended
         by the Lessor or on its behalf in connection with the acquisition and
         development of the Land and the design and construction of the
         Improvements, including all professional fees, survey and title costs,
         real estate taxes, insurance premiums and other soft costs incurred in
         connection therewith, Transaction Expenses and other pre-closing and
         closing costs (but excluding any upfront fees payable to the Investor)
         in connection with the transactions contemplated by the Operative
         Agreements, and capitalized interest on the Senior Secured Notes and on
         the Bonds and capitalized Investor Yield during the Construction
         Period, as the same are reflected in the Budget prepared from time to
         time in accordance with the Facility Agency Agreement; provided that,
         as of any date of determination, (i) during the Construction Period,
         Facility Costs will not be less than the aggregate amount of the
         Escrowed Funds disbursed under the Escrow Agreement on or prior to such
         date and (ii) during the remainder of the Term, Facility Costs will not
         be less than the aggregate principal amount of the Bonds then
         outstanding.

                  "Facility Requirements" shall have the meaning specified in
         Section 1.1 of the Facility Agency Agreement.

                  "Fair Market Sales Value" shall mean the amount, which in any
         event shall not be less than zero, that would be paid in cash in an
         arms-length transaction between an informed and willing purchaser and
         an informed and willing seller, neither of whom is under any compulsion
         to purchase or sell, respectively, for the ownership of the Facility.
         Fair Market Sales Value shall be determined based on the assumption
         that, except for purposes of Section 10.6 of the Lease, the Facility is
         in the condition and state of repair required under Section 5.1 of the
         Lease, that the Lessee is in compliance with the other requirements of
         the Operative Agreements and that the Facility is not subject to the
         Lease, the Bond Lease, the Bond Sublease or Lien of the Bond Deed of
         Trust and the Leasehold Deeds of Trust.

                  "Federal Reserve Board" shall mean the Board of Governors of
         the Federal Reserve System of the United States.

                  "First Offer" shall have the meaning specified in Section 11.1
         (a) of the Series A Note Purchase Agreement.

                                     - 12 -

<PAGE>

                  "Fixtures" shall mean all fixtures relating to the
         Improvements, including all components thereof, located in or on the
         Improvements, together with all replacements, modifications,
         alterations and additions thereto.

                  "Force Majeure Event" shall mean any event beyond the control
         of the Construction Agent, other than a Total Loss or Total
         Condemnation, including strikes, lockouts, adverse soil conditions,
         acts of God, adverse weather conditions, inability to obtain labor or
         materials, governmental activities, civil commotion and enemy action
         and delays in obtaining necessary permits and approvals from any
         Governmental Authority; but excluding any event, cause or condition
         that results from the Construction Agent's own actions, omissions to
         act, financial condition or failure to make any payment when due.

                  "GAAP" shall mean generally accepted accounting principles in
         the United States of America in effect from time to time.

                  "Governmental Action" shall mean all permits, authorizations,
         registrations, consents, approvals, waivers, exceptions, variances,
         orders, judgments, written interpretations, decrees, licenses,
         exemptions, publications, filings, notices to and declarations of or
         with, or required by, any Governmental Authority, or required by any
         Legal Requirement, and shall include all environmental and operating
         permits and licenses that are required for the development,
         construction, zoning and full use, occupancy and operation of the
         Facility.

                  "Governmental Authority" shall mean any nation or government,
         any state or other political subdivision thereof and any entity
         exercising executive, legislative, judicial, regulatory or
         administrative functions of or pertaining to government.

                  "Guarantee" shall mean the Guarantee, dated as of the August
         31, 1999, in the form of Exhibit F-1 to the Participation Agreement,
         from the Guarantor to the Indenture Trustee for the benefit of the
         Noteholders.

                  "Guarantor" shall mean MasterCard International Incorporated,
         a non-stock membership corporation organized under the laws of the
         State of Delaware.

                  "Hazardous Activity" shall mean any activity, process,
         procedure or undertaking that directly or indirectly (i) produces,
         generates or creates any Hazardous Substance, (ii) causes or results in
         the Release of any Hazardous Substance into the environment (including
         air, water vapor, surface water, groundwater, drinking water, land
         (including surface or subsurface), plant, aquatic and animal life);
         (iii) involves the containment or storage of any Hazardous Substance,
         or (iv) would be regulated as hazardous waste treatment, storage or
         disposal within the meaning of any Environmental Law.

                  "Hazardous Condition" shall mean any condition that violates
         or that results in noncompliance with any Environmental Law.

                                     - 13 -

<PAGE>

                  "Hazardous Substance" shall mean any of the following: (i) any
         petroleum or petroleum product, explosives, radioactive materials,
         asbestos, formaldehyde, polychlorinated biphenyls, lead and radon gas;
         or (ii) any substance, material, product, derivative, compound or
         mixture, mineral, chemical, waste, gas, medical waste or pollutant that
         would support the assertion of any claim under any Environmental Law,
         whether or not defined as hazardous as such under any Environmental
         Law.

                  "Holder" shall have, with respect to any Note, the meaning
         specified in the third paragraph of such Note.

                  "Impositions" shall mean, except to the extent described in
         the following sentence, any and all liabilities, losses, expenses and
         costs of any kind whatsoever for Taxes (including (i) real and personal
         property taxes, including personal property taxes on any property
         covered by the Lease that is classified by Governmental Authorities as
         personal property, and real estate or ad valorem taxes in the nature of
         property taxes; (ii) sales taxes, use taxes and other similar taxes
         (including rent taxes and intangibles taxes); (iii) any excise taxes;
         (iv) real estate transfer taxes, conveyance taxes, stamp taxes and
         documentary recording taxes and fees; (v) taxes that are or are in the
         nature of franchise, income, value added, privilege and doing business
         taxes, license and registration fees; and (vi) assessments on the
         Facility, including all assessments for public improvements or benefits
         (whether or not such improvements are commenced or completed within the
         Term), and in each case all interest, additions to tax and penalties
         thereon, which at any time prior to, during or with respect to the Term
         or in respect of any period for which the Lessee shall be obligated to
         pay Supplemental Rent, may be levied, assessed or imposed by any
         federal, state, city, county or local authority upon or with respect to
         (a) the Facility or any part thereof or interest therein; (b) the
         financing, refinancing, demolition, construction, renovation,
         substitution, subleasing, assignment, control, condition, occupancy,
         servicing, maintenance, repair, ownership, possession, activity
         conducted on, delivery, insuring, use, operation, improvement, transfer
         of title, return or other disposition of the Facility or any part
         thereof or interest therein; (c) the Notes, the Certificates or other
         Indebtedness with respect to the Facility or any part thereof or
         interest therein; (d) the rentals, receipts or earnings arising from
         the Facility or any part thereof or interest therein during the Term;
         (e) the Operative Agreements or any payment made or accrued pursuant
         thereto; (f) the income or other proceeds received with respect to the
         Facility or any part thereof or interest therein upon the sale or
         disposition thereof; (g) the issuance of the Notes or the Certificates;
         or (h) otherwise in connection with the transactions contemplated by
         the Operative Agreements.

                  The term "Imposition" shall not mean or include:

                  (i)      Taxes and impositions (other than Taxes that are, or
         are in the nature of, sales, use, rental (other than Taxes imposed on
         net rental income), value added, transfer or property taxes) that are
         imposed on a Tax Indemnitee by the United States federal government
         that are based on or measured by the gross or net income (including
         taxes based on capital gains and minimum taxes and withholding on
         payments of interest

                                     - 14 -

<PAGE>

         income) or any replacement of net income tax of such Person; provided
         that this clause (i) shall not be interpreted to prevent a payment from
         being made on an After Tax Basis if such payment is otherwise required
         to be so made;

                  (ii)     Taxes and impositions (other than Taxes that are, or
         are in the nature of, sales, use, rental, value added, transfer or
         property taxes) that are imposed by any state or local jurisdiction or
         taxing authority within any state or local jurisdiction and that are
         based upon or measured by the gross or net income or gross or net
         receipts from rental (including any minimum taxes, withholding taxes or
         taxes on or measured by capital, net worth, excess profits or items of
         tax preference or taxes that are capital stock, franchise or doing
         business taxes); provided that this clause (ii) shall not be
         interpreted to prevent a payment from being made on an After Tax Basis
         if such payment is otherwise required to be so made;

                  (iii)    any Tax or imposition to the extent, but only to such
         extent, it relates to any act, event or omission that occurs after the
         termination of the Lease (but not any Tax or imposition that relates to
         any period prior to the termination of the Lease);

                  (iv)     any Tax or imposition for so long as, but only for so
         long as, it is being contested in accordance with the provisions of the
         Participation Agreement;

                  (v)      any interest or penalties imposed on a Tax Indemnitee
         as a result of the failure of such Tax Indemnitee to file any return or
         report timely and in the form prescribed by law or to pay any Tax or
         imposition required to be indemnified by the Lessee under Section 11.2
         of the Participation Agreement; provided that this clause (v) shall not
         apply (x) if such interest or penalties arise as a result of a position
         taken (or requested to be taken) by the Lessee in a contest controlled
         by the Lessee under Section 11.2(f) of the Participation Agreement or
         (y) to any such interest or penalties that result from such Tax
         Indemnitee's complying with the reporting procedures set forth in
         Section 11.2(d) of the Participation Agreement;

                  (vi)     any Taxes or impositions imposed on a Tax Indemnitee
         that are a result of such Indemnified Person not being considered a
         "United States person" as defined in Section 7701(a) (30) of the Code;

                  (vii)    any Taxes or impositions that are enacted or adopted
         as a substitute for any Tax that would not have been indemnified
         against pursuant to the terms of Section 11.1 of the Participation
         Agreement;

                  (viii)   any Taxes which are imposed on a Tax Indemnitee as a
         result of a breach of a covenant or representation by such Tax
         Indemnitee in any Operative Agreement (unless caused by the Lessee's
         breach of its representations, warranties and covenants) or is a result
         of the gross negligence or willful misconduct of such Tax Indemnitee
         itself (as opposed to gross negligence or willful misconduct imputed to
         such Tax Indemnitee), but

                                     - 15 -

<PAGE>

         not Taxes imposed as a result of ordinary negligence of such Tax
         Indemnitee;

                  (ix)     any Taxes or impositions to the extent that such
         Taxes are actually reimbursed to the Lessor by another Person other
         than an Affiliate of the Lessor;

                  (x)      any Taxes or impositions imposed upon the Lessor with
         respect to any voluntary transfer, sale, financing or other voluntary
         disposition by the Lessor (other than a transfer contemplated and
         permitted by the Operative Agreements, including any transfer in
         connection with (1) the exercise by the Lessee of its Purchase Option,
         (2) the occurrence of a Lease Event of Default or an Indenture Event of
         Default (to the extent not arising from an Independent Event of
         Default), or (3) a Casualty or Condemnation affecting the Facility) of
         any interest in the Facility or any interest in, or created pursuant
         to, the Operative Agreements or any voluntary transfer of any interest
         in the Lessor (other than in connection with the existence of a Lease
         Event of Default or an Indenture Event of Default (to the extent not
         arising from an Independent Event of Default)) or any involuntary
         transfer of any of the foregoing interests resulting from the
         bankruptcy or insolvency of the Lessor (other than in connection with
         the existence of a Lease Event of Default or an Indenture Event of
         Default not arising from an Independent Event of Default);

                  (xi)     any gift, inheritance, franchise or estate Taxes;

                  (xii)    any Taxes or impositions imposed on a Tax Indemnitee,
         to the extent such Tax Indemnitee actually receives a credit (or
         otherwise has a reduction in a liability for Taxes) in respect thereof
         against Taxes that are not indemnified under the Operative Agreements
         (but only to the extent such credit is not taken into account in
         calculating the indemnity payment on an After Tax Basis);

                  (xiii)   any Tax or imposition to the extent that such Tax or
         imposition is imposed on a Tax Indemnitee in respect of a transaction
         or business in the jurisdiction imposing such Tax other than the
         transactions arising out of the Operative Agreements; or

                  (xiv)    any Tax or imposition imposed on a direct or indirect
         transferee, successor or assign of a Tax Indemnitee to the extent of
         the excess of such Taxes over the amount of such Taxes that would have
         been imposed had there not been a transfer by the original Tax
         Indemnitee of an interest arising under the Operative Agreements;
         provided that there shall not be excluded under this clause (xiv) any
         such Tax or imposition if such direct or indirect transferee, successor
         or assign of the Tax Indemnitee acquired its interest as a result of a
         transfer in connection with a Lease Event of Default or an Indenture
         Event of Default (to the extent not arising from an Independent Event
         of Default); provided, further, that there shall not be excluded under
         this clause (xiv) any amount necessary to make any payment on an After
         Tax Basis; or

                  (xv)     any Tax or imposition imposed as a result of any fees
         paid to the Trust

                                     - 16 -
<PAGE>

         Company, the Lessor, the Indenture Trustee, the Noteholders or the
         Investor in connection with the transactions contemplated by the
         Operative Agreements.

         Any Tax or imposition excluded from the defined term "Imposition" in
         any one of the foregoing clauses (i) through (xv) shall not be
         construed as constituting an Imposition by any provision of any other
         of the aforementioned clauses.

                  "Impositions Indemnitee" shall mean each Person entitled to
         the indemnification under Section 11.2 of the Participation Agreement.

                  "Improvements" shall mean a 414,000 square foot office space,
         an approximately 114,000 square foot data and energy center providing
         and utilizing reliable, redundant energy and communications sources and
         parking for approximately 1,751 cars and all other buildings,
         structures, Fixtures, Equipment, Modifications and other improvements
         of every kind existing at any time and from time to time on or under
         the Land, together with any and all appurtenances to such buildings,
         structures or improvements, including sidewalks, utility pipes,
         conduits and lines, parking areas and roadways, and including all
         additions to or changes in the Improvements at any time.

                  "Indebtedness" of any Person shall mean, at any particular
         date and without duplication, (a) all indebtedness of such Person for
         borrowed money or for the deferred purchase price of property or
         services (other than current trade payables or liabilities and deferred
         payment for services to employees or former employees incurred in the
         ordinary course of business and payable in accordance with customary
         practices), (b) the face amount of all letters of credit issued for the
         account of such Person and, without duplication, all drafts drawn
         thereunder, (c) all liabilities secured by any Lien on any property
         owned by such Person, to the extent attributable to such Person's
         interest in such property, even though such Person has not assumed or
         become liable for the payment thereof, (d) Capitalized Lease
         Obligations of such Person, (e) all indebtedness of such Person arising
         under acceptance facilities and (f) all Contingent Obligations of such
         Person; but excluding (y) customer deposits and interest payable
         thereon in the ordinary course of business and (z) trade and other
         accounts and accrued expenses payable in the ordinary course of
         business in accordance with customary trade terms and in the case of
         both clauses (y) and (z) above, which are not overdue for a period of
         more than 120 days or, if overdue for more than 120 days, as to which a
         good faith dispute exists and adequate reserves in conformity with GAAP
         have been established on the books of such Person.

                  "Indebtedness under the Notes" or "Indebtedness under the
         Senior Secured Notes" shall mean principal of and interest and any
         applicable Make Whole Premium on the Senior Secured Notes and all other
         amounts owing to the Indenture Trustee, the Escrow Agent and the
         Noteholders under the Senior Secured Notes and the other Operative
         Agreements.

                                     - 17 -

<PAGE>

                  "Indemnified Person" shall mean the Trust Company, the
         Indenture Trustee, the Escrow Agent, the Lessor, the Noteholders, the
         Board, the Bond Sublessor, the Bond Trustee and their respective
         successors, assigns, directors, shareholders, partners, officers,
         employees, agents and Affiliates.

                  "Indenture Default" shall mean any event or condition which,
         with the lapse of time or the giving of notice, or both, would
         constitute an Indenture Event of Default.

                  "Indenture Event of Default" shall mean any event or condition
         defined as an "Event of Default" in Section 8.1 of the Indenture.

                  "Indenture Payment Default" shall mean, with respect to the
         Indenture, a default in the payment of Rent, or other amounts payable
         by the Lessee to the Indenture Trustee, the Borrower, any third party
         on behalf of the Borrower or to any indemnitee under the Lease.

                  "Indenture Trustee's Liens" means, with respect to the
         Indenture, such Liens against the Collateral that result from (i) acts
         of, or any failure to act by, or as a result of claims against, the
         Indenture Trustee, unrelated to the transactions contemplated by the
         Operative Agreements or (ii) acts of the Indenture Trustee in direct
         violation of the express terms of the Operative Agreements.

                  "Indenture Trustee's Office" shall mean, the office of
         Indenture Trustee designated from time to time by the Indenture Trustee
         to the parties.

                  "Indenture Trustee" shall mean State Street Bank and Trust
         Company of Missouri, N.A., a national banking association, as the
         Indenture Trustee for the Noteholders under the Indenture, or any
         successor indenture trustee appointed in accordance with the terms of
         the Indenture.

                  "Indenture Trustee Financing Statements" shall mean UCC
         financing statements appropriately completed and executed for filing
         in the appropriate state and county offices in the State of Missouri
         and each other jurisdiction in which the Lessor is located or transacts
         business or any part of the Collateral is located, in order to perfect
         a security interest in favor of the Indenture Trustee, for benefit of
         the Noteholders, in the Equipment, the Bond Documents or any other part
         of the Collateral.

                  "Indenture" shall mean the Indenture, dated August 31, 1999,
         from the Borrower to the Indenture Trustee for the benefit of the
         Noteholders.

                  "Independent Default" shall mean, with respect to the
         Indenture, an Indenture Default not caused by or attributable to (a) a
         Lease Default (except for any such default caused by or attributable to
         the Borrower), (b) an Agency Agreement Default, (c) any default under
         the Guarantee, (d) any default described in Section 8.1(k) of the
         Indenture caused by the Lessee's vitiation of any coverage, or
         reduction of any amount that might otherwise be payable, under the
         Residual Value Policy or the Construction Termination

                                     - 18 -

<PAGE>

         Policy and (e) any event of default under the Escrow Agreement (except
         for any such default caused by or attributable to the Borrower).

                  "Independent Event of Default" shall mean, with respect to the
         Indenture, an Indenture Event of Default not caused by or attributable
         to (a) a Lease Event of Default (except for any such default caused by
         or attributable to the Borrower), (b) an Agency Agreement Event of
         Default, (c) any default under the Guarantee, (d) any default described
         in Section 8.1(k) of the Indenture caused by the Lessee's vitiation of
         any coverage, or reduction of any amount that might otherwise be
         payable, under the Residual Value Policy or the Construction
         Termination Policy and (e) any event of default under the Escrow
         Agreement (except for any such default caused by or attributable to the
         Borrower).

                  "Insolvency" shall mean, with respect to a Multiemployer Plan,
         the condition that such Plan is insolvent within the meaning of such
         term as used in Section 4245 of ERISA.

                  "Institutional Investor" means (a) any Purchaser, (b) any
         holder of a Senior Secured Note holding more than five percent (5%) of
         the aggregate principal amount of the Notes then Outstanding, and (c)
         any bank, trust company, savings and loan association or other
         financial institution (or affiliate thereof), any pension plan, any
         investment company, any insurance company, any broker or dealer, or any
         other similar financial institution regardless of legal form.

                  "Insurance Requirements" shall mean all terms and conditions
         of any insurance policy required by the Indenture to be maintained by
         the Lessor, by the Facility Agency Agreement to be maintained by the
         Construction Agent or by the Lease, the Bond Lease or the Bond Sublease
         to be maintained by the Lessee and, in each case, all requirements of
         the issuer of any such policy.

                  "Insurer" shall mean RVI America Insurance Company, a
         Connecticut insurance company.

                  "Interest Rate" shall have, with respect to any Senior Secured
         Note, the meaning specified in the first paragraph of such Senior
         Secured Note.

                  "Investment Company Act" shall mean the Investment Company Act
         of 1940, as amended, together with the rules and regulations
         promulgated thereunder.

                  "Investor Contribution" shall have the meaning specified in
         Section 2 of the Participation Agreement.

                  "Investor Premium" shall mean, with respect to the Investor
         Contribution as at any date, (a) an amount equal to the present value
         of the remaining scheduled payments of capital and Investor Yield on
         the Investor Contribution assuming that the entire remaining
         outstanding capital amount of the Investor Contribution will be paid on
         the

                                     - 19 -

<PAGE>

         Maturity Date at par and using a discount factor equal to the Treasury
         Rate plus 0.50%, less (b) the capital amount of the Investor
         Contribution outstanding as at the day of determination; provided,
         however, that in no case shall the Investor Premium be less than zero.
         For purposes of this definition, the "Treasury Rate" shall mean a rate
         equal to the then current yield to maturity on the most actively traded
         U.S. Treasury security having a maturity equal to the remaining average
         life of the Investor Contribution (as if the payments of Investor Yield
         and the capital of the Investor Contribution scheduled in respect
         thereof were payments of interest and principal). In the event there
         are not actively traded U.S. Treasury securities with a maturity equal
         to such remaining average life, then the yield to maturity shall be
         determined by linear interpolation using the closest, but shorter,
         maturity for actively traded U.S. Treasury securities and the closest,
         but longer, maturity for actively traded U.S. Treasury maturities.

                  "Investor Yield" shall mean a return on the unreturned balance
         of the Investor Contribution, accruing at the rate of 8.57% per annum
         and calculated on the basis of a 360-day year of twelve 30-day months.

                  "Investor" shall mean BMO Global Capital Solutions, Inc., a
         Delaware corporation.

                  "Land" shall mean the parcel of real property located in the
         City of O'Fallon, Missouri described in Schedule A to the Participation
         Agreement and all Appurtenant Rights attached thereto.

                  "Lease" shall mean the Lease, dated as of August 31, 1999, in
         the form of Exhibit A-4 to the Participation Agreement, between the
         Lessor and the Lessee.

                  "Lease Default" shall mean any event or condition which, with
         the lapse of time or the giving of notice, or both, would constitute a
         Lease Event of Default.

                  "Lease Event of Default" shall mean an event or condition
         defined as an "Event of Default" in Section 11.1 of the Lease.

                  "Lease Payment Date" shall have, with respect to the Lease,
         the meaning specified in Section 8.10(a) of the Indenture.

                  "Leasehold Deed of Trust" shall mean (a) the Leasehold Deed of
         Trust, dated as of August 31, 1999, made by the Bond Sublessor to the
         Bond Trustee for the benefit of the Bondholders with respect to the
         Bond Lease or (b) the Leasehold Deed of Trust, dated as of August
         31, 1999, made by the Lessor to the Bond Trustee for the benefit of the
         Bondholders with respect to the Bond Sublease, in each case in the form
         of Exhibit B-2 to the Participation Agreement, or both, as the context
         requires.

                  "Legal Requirements" shall mean (a) all federal, state,
         county, municipal and other governmental statutes, laws, rules, orders,
         regulations, ordinances, judgments, decrees and injunctions affecting
         the Facility or any other part of the Collateral (including

                                     - 20 -

<PAGE>

         The Missouri Development Finance Board Act, Sections 100.250 to
         100.297, inclusive, of the Revised Statutes of Missouri, as amended) or
         the demolition, construction, renovation, use or alteration thereof,
         whether now or hereafter enacted and in force, including any that
         require repairs, modifications or alterations in or to the Facility or
         in any way limit the use and enjoyment thereof (including all building,
         zoning and fire codes and the Americans with Disabilities Act of
         1990,42 U.S.C. Section 12101 et seq. and any other similar federal,
         state or local laws or ordinances and the regulations promulgated
         thereunder) and any that may relate to environmental requirements
         (including all Environmental Laws), and all permits, certificates of
         occupancy, licenses, authorizations and regulations relating thereto,
         and all covenants, agreements, restrictions and encumbrances contained
         in any instruments which are either of record or known to the Lessee
         affecting the Facility, the Appurtenant Rights and any easements,
         licenses or other agreements entered into pursuant to Section 9.4 of
         the Lease and (b) as to any Person, the certificate of incorporation
         and by-laws or other organizational or governing documents of such
         Person or determination of an arbitrator or a court or other
         Governmental Authority, in each case applicable to or binding upon such
         Person or any of its property or to which such Person or any of its
         property is subject.

                  "Lessee" shall mean MasterCard International Incorporated, a
         non-stock membership corporation organized under the laws of the State
         of Delaware, as lessee under the Lease.

                  "Lessee Leasehold Deed of Trust" shall mean the Leasehold Deed
         of Trust, dated as of August 31, 1999, in the form of Exhibit B-3 to
         the Participation Agreement, made by the Lessee to the Lessor.

                  "Lessor" shall mean the Trust.

                  "Lessor Deed of Trust" shall mean the Lessor Deed of Trust,
         dated as of August 31, 1999, in the form of Exhibit B-4 to the
         Participation Agreement, from the Lessor to the Indenture Trustee for
         the benefit of the Noteholders.

                  "Lessor Financing Statements" shall mean UCC financing
         statements appropriately completed and executed for filing in the
         appropriate state and county offices in the State of Missouri in order
         to protect the Lessor's interest under the Lease to the extent the
         Lease is a security agreement and under the Lessee Leasehold Deed of
         Trust.

                  "Lessor Lien" shall mean any Lien, true lease or sublease or
         disposition of title arising as a result of (a) any claim against the
         Lessor or the Trust Company, not resulting from the transactions
         contemplated by the Operative Agreements, (b) any act or omission of
         the Lessor or the Trust Company, which is not required by the Operative
         Agreements or is in violation of any of the terms of the Operative
         Agreements, (c) any claim against the Lessor or the Trust Company, with
         respect to Taxes or Transaction Expenses against which the Lessee is
         not required to indemnify the Lessor or the Trust Company pursuant

                                     - 21 -

<PAGE>

         to the Participation Agreement or (d) any claim against the Lessor
         arising out of any transfer by the Lessor of all or any portion of the
         interest of the Lessor in the Facility, the Trust Estate or the
         Operative Agreements other than the transfer of title to or possession
         of the Facility by the Lessor pursuant to and in accordance with the
         Lease, the Indenture or the Participation Agreement or pursuant to the
         exercise of the remedies set forth in Article 11.3 of the Lease.

                  "Lien" shall mean, with respect to any asset, (a) any
         mortgage, deed of trust, lien, pledge, encumbrance, charge or security
         interest in or on such asset, (b) the interest of a vendor or a lessor
         under any conditional sale agreement, capital lease or title retention
         agreement relating to such asset and (c) in the case of securities, any
         purchase option, call or similar right of a third party (excluding
         rights of first refusal) with respect to such securities.

                  "Make Whole Premium" shall mean, with respect to any Senior
         Secured Note as at any date, (a) an amount equal to the present value
         of the remaining scheduled payments of principal and interest on such
         Senior Secured Note assuming that the entire remaining outstanding
         principal amount of such Senior Secured Note will be paid on the
         Maturity Date at par and using a discount factor equal to the Treasury
         Rate plus 0.50%, less (b) the principal amount of such Senior Secured
         Note outstanding as at the day of determination; provided, however,
         that in no case shall the Make Whole Premium be less than zero. For
         purposes of this definition, the "Treasury Rate" shall mean a rate
         equal to the then current yield to maturity on the most actively traded
         U.S. Treasury security having a maturity equal to the remaining average
         life of the subject note. In the event there are not actively traded
         U.S. Treasury securities with a maturity equal to the remaining average
         life of the subject note, then the yield to maturity shall be
         determined by linear interpolation using the closest, but shorter,
         maturity for actively traded U.S. Treasury securities and the closest,
         but longer, maturity for actively traded U.S. Treasury maturities.

                  "Maker" shall have, with respect to any Senior Secured Note,
         the meaning specified in the first paragraph of such Senior Secured
         Note.

                  "Marketing Period" shall mean, if the Lessee has not given the
         Maturity Date Election Notice in accordance with Section 10.2 of the
         Lease, the period commencing on the date twelve months prior to the
         Maturity Date and ending on the Maturity Date.

                  "Material Adverse Effect" shall (a) a material adverse effect
         on the business (including prospects), assets, operations, properties
         or condition (financial or otherwise) of the Lessee, (b) a material
         impairment of the ability of the Lessee, the Guarantor, the
         Construction Agent and the Insurer to perform their respective
         obligations under any of the Operative Agreements, or (c) a material
         impairment of the rights of or benefits available to the Bondholders or
         the Noteholders under any of the Operative Agreements, including with
         respect to the value or use of any material part of the Collateral or
         the priority or enforceability of any Lien under the Security
         Documents.

                                     - 22 -

<PAGE>

                  "Maturity Date Election Notice" shall have the meaning
         specified in Section 10.2 of the Lease.

                  "Maturity Date Purchase Option" shall mean the Lessee's
         Purchase Option to purchase the Facility on the Maturity Date in
         accordance with Section 10.2 of the Lease.

                  "Maturity Date" shall mean September 1, 2009.

                  "Maximum Residual Guarantee Amount" shall mean, with respect
         to the Senior Secured Notes, 85.15% of the Facility Costs.

                  "Memorandum of Bond Lease" shall have the meaning specified in
         Section 15.13 of the Bond Lease.

                  "Memorandum of Bond Sublease" shall have the meaning specified
         in Section 15.12 of the Bond Sublease.

                  "Memorandum of Lease" shall have the meaning specified in
         Section 14.9 of the Lease.

                  "Modifications" shall have the meaning specified in Section
         7.1 of the Lease.

                  "Moody's" means Moody's Investors Service, Inc., or if such
         company shall cease to issue ratings, another nationally recognized
         statistical rating company selected in good faith by the agreement of
         the Indenture Trustee and the Guarantor.

                  "Multiemployer Plan" shall mean a Plan which is a
         multiemployer plan as defined in Section 4001(a)(3) of ERISA.

                  "NAIC" shall have the meaning specified in Section 7.2(a) of
         the Series A Note Purchase Agreement.

                  "Net Proceeds" means, when used with respect to any insurance
         or condemnation award with respect to the Facility, the gross proceeds
         from the insurance or condemnation award with respect to which that
         term is used remaining after payment of all expenses (including
         attorneys' fees, trustee's fees and any extraordinary expenses of the
         Lessor and the Indenture Trustee) incurred in the collection of such
         gross proceeds.

                  "Net Sale Proceeds Shortfall" shall mean the amount by which
         the proceeds of a sale of the Facility described in Section 10.4 of the
         Lease (net of all expenses of sale) are less than the Non-Guaranteed
         Residual Amount for the Facility.

                  "Non-Capitalized Transaction Expenses" shall mean Transaction
         Expenses that may not be capitalized in accordance with GAAP; provided
         that Non-Capitalized Transaction Expenses shall not at any time exceed
         $6,000,000 in the aggregate.

                                     - 23 -

<PAGE>

                  "Non-Guaranteed Residual Amount" shall mean, with respect to
         the Senior Secured Notes, an amount equal to the Facility Costs
         determined as of a date on which the Construction Termination Amount or
         the Maximum Residual Guarantee Amount, as the case may be, is payable
         less, as the case may be, (a) upon the date, if any, on which the
         Construction Termination Amount is payable, the Construction
         Termination Amount or (b) upon the date, if any, on which the Maximum
         Residual Guarantee Amount is payable, the Maximum Residual Guarantee
         Amount.

                  "Note Documents" shall mean the Indenture, the Note Purchase
         Agreements, the Notes, the Guarantee, the Facility Agency Agreement,
         the Residual Value Policy, the Construction Termination Policy, the
         Lease and the Security Documents and all documents, instruments and
         certificates executed and delivered in connection therewith.

                  "Note Purchase Agreements" shall have the meaning specified in
         Section 1 of the Participation Agreement.

                  "Noteholder" shall mean, with respect to any Senior Secured
         Note, at any given time, a Person in whose name such Senior Secured
         Note is then registered in the Register.

                  "Notes" shall have the meaning specified in Section 1 of the
         Participation Agreement.

                  "Notices" shall have the meaning specified in Section 11.5 of
         the Indenture.

                  "Offered Notes" shall mean (i) any Series B Notes proposed to
         be issued in accordance with Section 1 of the Participation Agreement
         and offered for purchase by the Noteholders pursuant to Article 11 of
         the Series A Note Purchase Agreement and (ii) any Series of Expansion
         Notes proposed to be issued pursuant to Section 2.1 (d) of the
         Indenture and offered for purchase by the Noteholders pursuant to
         Article 11 of the Series A Note Purchase Agreement (and any comparable
         provision of the Series B Note Purchase Agreement or any note purchase
         agreement with respect to any Series of the Expansion Notes then
         Outstanding).

                  "Offeree" shall have the meaning specified in Section 11.l(a)
         of the Series A Note Purchase Agreement.

                  "Officer's Certificate" shall mean a certificate signed by any
         individual holding the office of vice president or higher, which
         certificate shall certify as true and correct the subject matter being
         certified to in such certificate.

                  "Operative Agreements" shall mean the following:

                  (a)      the Participation Agreement;

                  (b)      the Senior Secured Notes;

                  (c)      the Bond Deed of Trust;

                  (d)      the Bond Lease and the Memorandum of Bond Lease;

                                     - 24 -

<PAGE>

                  (e)      the Bond Sublease and the Memorandum of Bond Sublease

                  (f)      the Lease and the Memorandum of Lease;

                  (g)      the Assignment of Bond Lease;

                  (h)      the Assignment of Bond Sublease;

                  (i)      the Assignment of Lease;

                  (j)      the Consent to Bond Lease Assignment;

                  (k)      the Consent to Bond Sublease Assignment;

                  (1)      the Consent to Assignment;

                  (m)      the Leasehold Deeds of Trust;

                  (n)      the Consents to Leasehold Deeds of Trust;

                  (o)      the Lessor Deed of Trust;

                  (p)      the Lessee Leasehold Deed of Trust;

                  (q)      the Pledge Agreement;

                  (r)      the UCC Financing Statements;

                  (s)      the Indenture;

                  (t)      the Note Purchase Agreements;

                  (u)      the Bond Indenture;

                  (v)      the Bonds;

                  (w)      the Facility Contracts Assignment;

                  (x)      the Facility Agency Agreement;

                  (y)      the Consents to Facility Contracts Assignment;

                  (z)      the Guarantee;

                  (aa)     the Residual Value Policy;

                  (bb)     the Construction Termination Policy;

                  (cc)     the Escrow Agreement;

                  (dd)     the Trust Agreement;

                  (ee)     the Certificates;

and all documents, instruments and certificates executed in connection with each
of the foregoing.

                  "Original Notes" shall have the meaning specified in the
         recitals to the Indenture.

                  "Outside Completion Date" with respect to the Facility shall
         mean the date which is thirty (30) months after the Closing Date, as
         such date may be extended by up to a total of six (6) months because of
         a delay in the Completion Date caused by one or more Force Majeure
         Events, in each case of which the Lessor and the Construction Agent
         shall have promptly given the Indenture Trustee notice, describing in
         reasonable detail each such Force Majeure Event and the actions being
         taken to mitigate its effects.

                  "Outstanding" means, with respect to any Senior Secured Notes,
         as of any particular time, all Senior Secured Notes theretofore issued
         pursuant the applicable Note Purchase Agreement, except (i) Senior
         Secured Notes theretofore canceled by the Indenture Trustee or
         surrendered to the Indenture Trustee for cancellation, (ii) Senior
         Secured Notes theretofore paid in full or Senior Secured Notes required
         to be prepaid in

                                     - 25 -

<PAGE>

         full within thirty (30) days thereafter; provided that, in the case of
         Senior Secured Notes so to be prepaid, cash sufficient for such
         prepayment thereof shall theretofore have been deposited with, or shall
         then be held by, the Indenture Trustee in accordance with the
         provisions of the applicable Note Purchase Agreement, (iii) Senior
         Secured Notes in exchange or substitution for which other Senior
         Secured Notes shall theretofore have been issued pursuant to the
         applicable Note Purchase Agreement, and (iv) for the purposes of
         determining whether the Noteholders of the requisite principal amount
         of Senior Secured Notes have given any consent, waiver, direction
         authorization or notice, Senior Secured Notes registered in the name of
         or held by the Borrower, the Lessee or any nominee or Affiliate of any
         thereof and, with respect to the Borrower and the Lessee, any successor
         in interest to their respective interests in the Facility, unless in
         the case of this clause (iv) no other Senior Secured Notes are
         outstanding under the Note Purchase Agreement.

                  "Overdue Interest" shall have the meaning specified in Section
         8.2(a) of the Indenture.

                  "Overdue Rate," shall mean, (a) with respect to the Series A
         Basic Rent, Series B Basic Rent, Supplemental Rent and any other amount
         owed under or with respect to the Series A Notes, the Series B Notes,
         the Indenture, the Lease (other than with respect to the Investor Yield
         and the Investor Contribution) or the Security Documents, the rate set
         forth in the first paragraph of the Series A Notes or Series B Notes,
         as applicable, and (b) with respect to the Investor Yield and the
         Investor Contribution, 2% in excess of the Investor Yield.

                  "Participation Agreement" shall mean the Participation
         Agreement, dated as of August 31, 1999, among the Lessee, the Lessor,
         the Trust Company, the Investor, the Indenture Trustee and the
         Purchasers.

                  "Payment Date" shall mean (a) each day on which a scheduled
         payment of interest on the Senior Secured Notes or the Investor Yield
         on the Certificates is due pursuant thereto or, if all amounts due
         under the Indenture have been paid in full and the Indenture has been
         terminated, each day on which a scheduled payment of Basic Rent is due
         pursuant to the Lease and (b) during the Construction Period, each day
         on which interest on the Notes or the Investor Yield is disbursed
         pursuant to Section 5(b) of the Escrow Agreement.

                  "PBGC" shall mean the Pension Benefit Guaranty Corporation
         established pursuant to Subtitle A of Title IV of ERISA.

                  "Permitted Exceptions" shall mean: (i) Liens of the types
         described in clauses (i), (v) and (viii) of the definition of Permitted
         Liens; (ii) Liens for Taxes not yet due; and (iii) all non-monetary
         encumbrances, exceptions, restrictions, easements, rights of way,
         servitudes, encroachments and irregularities in title, other than Liens
         that (in the assessment of the Purchasers) materially impair, or could
         be reasonably expected to so

                                     - 26 -

<PAGE>

         impair, the use or operation of the Facility for its intended purpose.

                  "Permitted Insurers" shall have the meaning specified in
         Section 6.1 of the Facility Agency Agreement.

                  "Permitted Investments" shall mean (a) with respect to
         Escrowed Funds, any "Permitted Investment" under Section 2.2 of the
         Escrow Agreement and (b) with respect to any other funds, (i)
         obligations of the United States of America, or fully guaranteed as to
         interest and principal by the United States of America, maturing not
         more than six months from the date such investment is made, (ii)
         certificates of deposit having a final maturity of not more than thirty
         (30) days after the date of issuance thereof of any commercial bank
         incorporated under the laws of the United States of America or any
         state thereof or the District of Columbia, which bank (a "Qualifying
         Bank") is a member of the Federal Reserve System and has a combined
         capital and surplus of not less than $500,000,000 and with a senior
         unsecured debt credit rating of at least A or its equivalent by S&P or
         Moody's, (iii) commercial paper, rated A-l or its equivalent (or
         better) by S&P or Moody's, and having a remaining term until maturity
         of not more than ninety (90) days from the date such investment is made
         and (iv) investments in shares of a money market fund or investment
         fund the assets of which consist only of the types of investments
         described in (i) above and repurchase agreements in respect thereof and
         which fund is rated AAA or its equivalent by S&P or Moody's.

                  "Permitted Liens" shall mean: (i) the respective rights and
         interests of the parties to the Operative Agreements as provided in the
         Operative Agreements; (ii) the rights of any sublessee or assignee
         under a sublease or an assignment expressly permitted by the terms of
         the Lease; (iii) Liens for Taxes that either are not yet due or are
         being contested in accordance with the provisions of Section 11.2 of
         the Participation Agreement; (iv) Liens arising by operation of law,
         materialmen's, mechanics', workmen's, repairmen's, employees',
         carriers', warehousemen's and other like Liens relating to the
         construction of the Improvements or in connection with any
         Modifications or arising in the ordinary course of business for amounts
         that either are not more than 30 days past due or are being diligently
         contested in good faith by appropriate proceedings, so long as such
         proceedings shall not involve any material danger of the sale,
         forfeiture or loss, and shall not interfere with the use, of the
         Facility or the payment of Rent; (v) Liens of any of the types referred
         to in clause (iv) above that have been bonded for not less than the
         full amount in dispute (or as to which other security arrangements
         satisfactory to the Lessor have been made), which bonding (or
         arrangements) shall comply with applicable Legal Requirements, and
         shall have effectively stayed any execution or enforcement of such
         Liens; (vi) Liens arising out of judgments or awards with respect to
         which appeals or other proceedings for review are being prosecuted in
         good faith and for the payment of which adequate reserves have been
         provided as required by GAAP or other appropriate provisions have been
         made, so long as such proceedings have the effect of staying the
         execution of such judgments or awards and satisfy the conditions for
         the continuation of proceedings to contest Taxes set forth in Section
         11.2 of the Participation Agreement; (vii) Permitted Exceptions; (viii)
         easements, rights of way and other encumbrances on

                                     - 27 -

<PAGE>

         title to real property pursuant to Section 9.4 of the Lease; and (ix)
         the Tax Forbearance Agreement.

                  "Person" shall mean an individual, partnership, corporation,
         limited liability company, business trust, joint stock company,
         unincorporated association, joint venture, Governmental Authority or
         other entity of whatever nature.

                  "Plan" shall mean an Employee Benefit Plan.

                  "Plans and Specifications" shall mean the plans and
         specifications for the Improvements to be constructed on the Land to
         form the Facility, as such Plans and Specifications may be amended,
         modified or supplemented from time to time in accordance with the terms
         of the Operative Agreements.

                  "Pledge Agreement" shall mean the Pledge and Security
         Agreement, dated as of August 31, 1999, in the form of Exhibit D to the
         Participation Agreement, from the Lessor to the Indenture Trustee for
         the benefit of the Noteholders.

                  "Projected Completion Value" shall mean the estimated value of
         the Facility assuming the Improvements are completed in accordance with
         the Plans and Specifications and the Facility Requirements, as
         established by an Appraisal.

                  "Proportionate Share," with respect to any Noteholder that is
         an Offeree of any Offered Notes, shall mean that principal amount of
         Offered Notes that bears the same relationship to the aggregate
         principal amount of such Offered Notes as the principal amount of the
         Outstanding Senior Secured Notes (to which the right of first offer set
         forth in Article 11 of the Series A Note Purchase Agreement (or any
         comparable provision of the Series B Note Purchase Agreement or any
         note purchase agreement with respect to any Series of the Expansion
         Notes then Outstanding) applies) held by such Noteholder bears to the
         aggregate principal amount of all Outstanding Senior Secured Notes (to
         which the right of first offer set forth in Article 11 of the Series A
         Note Purchase Agreement (or any comparable provision of the Series B
         Note Purchase Agreement or any note purchase agreement with respect to
         any Series of the Expansion Notes then Outstanding) applies) held by
         all Offerees.

                  "Purchase Notice" shall have the meaning specified in Section
         10.1 of the Lease.

                  "Purchase Option" shall have the meaning specified in Section
         10.1 of the Lease.

                  "Purchase Option Price" shall have the meaning specified in
         Section 10.1 of the Lease.

                  "Purchasers" shall have the meaning specified in the preamble
         to the Participation Agreement.

                  "QPAM Exemption" means Prohibited Transaction Class Exemption
         84-14

                                     - 28 -

<PAGE>

         (issued March 13, 1984 and amended October 10, 1985).

                  "Qualifying Bank" shall have the meaning specified in the
         definition of "Permitted Investments".

                  "Register" shall have the meaning specified in Section 2.3 of
         the Indenture.

                  "Release" shall mean any release, pumping, pouring, emptying,
         injecting, escaping, leaching, dumping, seepage, spill, leak, flow,
         discharge, disposal or emission of a Hazardous Substance.

                  "Rent" shall mean, collectively, the Basic Rent and the
         Supplemental Rent, in each case payable under the Lease.

                  "Reorganization" shall mean with respect to any Multiemployer
         Plan, the condition that such plan is in reorganization within the
         meaning of Section 4241 of ERISA.

                  "Reportable Event" shall mean any of the events specified in
         Section 4043(b) of ERISA or the regulations thereunder.

                  "Requesting Party" shall have the meaning specified in Section
         14.8 of the Lease.

                  "Required Holders" shall mean the holders of more than 50% in
         principal amount of the Senior Secured Notes at the time Outstanding.

                  "Residual Value Policy" shall mean the Residual Value
         Insurance Policy, dated as of August 31, 1999, in the form of Exhibit
         F-2 to the Participation Agreement, issued by the Insurer to the
         Indenture Trustee for the benefit of the Noteholders.

                  "Responsible Officer" shall mean (a) with respect to the
         Lessee, the chief executive officer or the chief operating officer of
         the Lessee or, with respect to financial matters, the chief financial
         officer or controller of the Lessee, (b) with respect to Indenture
         Trustee, any officer in the Corporate Trust Administration Department
         of the Indenture Trustee who is duly authorized by appropriate
         corporate action to execute any Operative Agreement and (c) with
         respect to the Borrower, any officer of the Borrower or the Trust
         Company who is duly authorized by appropriate action to execute any
         Operative Agreement.

                  "S&P" shall mean Standard & Poor's Ratings Services, or if
         such company shall cease to issue ratings, another nationally
         recognized statistical rating company selected in good faith by the
         agreement of the Indenture Trustee and the Guarantor.

                  "Securities Act" shall mean the Securities Act of 1933, as
         amended, together with the rules and regulations promulgated
         thereunder.

                                     - 29 -

<PAGE>

                  "Security Documents" shall mean the collective reference to
         the Bond Deed of Trust, the Leasehold Deeds of Trust, the Pledge
         Agreement, the Bond Lease, the Memorandum of Bond Lease, the Assignment
         of Bond Lease, the Bond Sublease, the Memorandum of Bond Sublease, the
         Assignment of Bond Sublease, the Lease, the Memorandum of Lease, the
         Assignment of Lease, the Facility Contracts Assignment, the Escrow
         Agreement, the Lessor Deed of Trust, the Lessee Leasehold Deed of
         Trust, the UCC Financing Statements and all other security documents
         hereafter delivered to the Bond Trustee or the Indenture Trustee,
         granting, or purporting to grant, a Lien on any asset of any Person to
         secure the obligations and liabilities of the Board under the Bonds and
         the Bond Indenture or of the Lessor under the Senior Secured Notes and
         the Indenture.

                  "Senior Secured Notes" shall have the meaning specified in the
         recitals to the Indenture.

                  "Series" shall have the meaning specified in Section 2.1(d) of
         the Indenture.

                  "Series A Basic Rent" shall mean the interest due on the
         Series A Notes on any Payment Date pursuant to the Indenture (but not
         including interest on overdue amounts under Section 8.2 of the
         Indenture).

                  "Series A Bonds" shall have the meaning specified in Section 1
         of the Participation Agreement.

                  "Series A Note Purchase Agreement" shall mean the Note
         Purchase Agreement, dated as of August 31, 1999, between the Borrower
         and the purchasers of Series A Notes listed on Schedule A thereto.

                  "Series A Notes" shall have the meaning specified in the
         recitals to the Indenture.

                  "Series B Basic Rent" shall mean the scheduled interest due on
         the Series B Notes, if and when issued, on any Payment Date pursuant to
         the Indenture (but not including interest on overdue amounts under
         Section 8.2 of the Indenture or otherwise).

                  "Series B Bonds" shall have the meaning specified in Section 1
         of the Participation Agreement.

                  "Series B Note Purchase Agreement" shall have the meaning
         specified in Section 1 of the Participation Agreement.

                  "Series B Notes" shall have the meaning specified in the
         recitals to the Indenture.

                  "Shared Rights" shall mean the rights retained by the Lessor,
         but not to the exclusion of the Indenture Trustee, pursuant to Section
         8.10(a) of the Indenture.

                  "Single Employer Plan" shall mean any Plan which is covered by
         Title IV of

                                     - 30 -

<PAGE>

         ERISA, but which is not a Multiemployer Plan.

                  "Source" shall have the meaning specified in Section 7.2 of
         the Series A Note Purchase Agreement.

                  "Specified Lease Event of Default" shall mean any Lease Event
         of Default other than a Lease Event of Default arising solely out of
         (a) any Independent Event of Default, wherever referenced in any
         Operative Agreement, (b) a Lease Event of Default described in Section
         11.1 (h) of the Lease or (c) a Lease Event of Default described in
         Section 11.1(b) of the Lease but only to the extent it is attributable
         to the Lessee's breach of its covenants in any Operative Agreement
         other than the Lease.

                  "Subsidiary" as to any Person, any corporation, partnership or
         other entity of which shares of stock of each class or other equity
         interests having ordinary voting power (other than stock having such
         power only by reason of the happening of a contingency) to elect a
         majority of the board of directors or other managers of such
         corporation, partnership or other entity are at the time owned by such
         Person or by one or more Subsidiaries of such Person or by such
         Person and one or more Subsidiaries of such Person. A Subsidiary shall
         be deemed wholly-owned by a Person who owns all of the voting shares of
         such Subsidiary except for directors' qualifying or similar shares.

                  "Supplemental Indenture" shall mean a supplement to the
         Indenture entered into pursuant to Article 10 of the Indenture.

                  "Supplemental Rent" shall mean all amounts, liabilities and
         obligations (other than Basic Rent) that the Lessee assumes or agrees
         to pay to the Lessor or any other Person under the Lease or under any
         of the other Operative Agreements (other than the Guarantee made by the
         Guarantor in favor of the Indenture Trustee for the benefit of
         Noteholders).

                  "Tax Forbearance Agreement" shall have the meaning specified
         in Section 1.1 of the Lease.

                  "Tax Indemnitee" shall mean the Lessor, the Investor, the
         Trust Company, the Board, the Bond Sublessor, the Bond Trustee, the
         Indenture Trustee and each Noteholder.

                  "Taxes" shall mean any tax, assessment, or other charge or
         levy and any liabilities with respect thereto, including all penalties,
         additions to tax, fines or interest thereon, imposed by or on behalf of
         any Governmental Authority or any taxing authority thereof.

                  "Term" shall mean the period commencing on the Closing Date
         and ending on September 1, 2009, or such earlier date, as provided for
         in the Operative Agreements.

                  "Termination Date" shall have the meaning specified in Section
         3.6 of the Lease.

                  "Termination Notice" shall have the meaning specified in
         Section 3.6 of the

                                     - 31 -

<PAGE>

         Lease.

                  "Termination Value" shall mean, as of any determination date,
         an amount equal to the sum of (without duplication) (i) the aggregate
         outstanding principal amount of the Senior Secured Notes, accrued and
         unpaid interest on the Senior Secured Notes, any applicable Make Whole
         Premium and all other amounts (including fees and expenses) owing to
         the Indenture Trustee and/or the Noteholders or to the Lessor for the
         benefit of the Indenture Trustee and/or the Noteholders under the
         Operative Agreements, plus (ii) the aggregate outstanding principal
         amount of the Bonds, accrued and unpaid interest on the Bonds, any
         applicable premium and all other amounts (including fees and expenses)
         owing to the Bond Trustee and/or the Bondholders under the Bond
         Documents, plus (iii) the aggregate outstanding amount of the Investor
         Contribution, all accrued and unpaid amounts on account of the Investor
         Yield, any applicable Investor Premium and all other amounts owing to
         the Investor under the Operative Agreements.

                  "Title Company" shall mean Lawyers Title Insurance Company.

                  "Total Condemnation" shall mean a Condemnation that in the
         reasonable, good faith judgment of the Lessee (as evidenced by an
         Officer's Certificate) either (a) renders the Facility unsuitable for
         continued use as commercial property of the type contemplated by the
         Operative Agreements or (b) is such that restoration of the Facility to
         substantially its condition as existed immediately prior to such
         Condemnation would be impracticable or impossible.

                  "Total Loss" shall mean any loss or damage resulting from a
         Casualty that in the reasonable, good faith judgment of the Lessee (as
         evidenced by an Officer's Certificate) either (a) renders the Facility
         unsuitable for continued use as commercial property of the type
         contemplated by the Operative Agreements or (b) is so substantial in
         nature that restoration of the Facility to substantially its condition
         as existed immediately prior to such Casualty would be impracticable or
         impossible.

                  "Transaction Expenses" shall mean:

                  (a)      the reasonable expenses, disbursements and costs
         (including reasonable counsel fees and expenses) of the Indenture
         Trustee, the Noteholders, the Bond Trustee and the Arranger incurred in
         connection with the consummation of the transactions contemplated by
         the Operative Agreements;

                  (b)      the reasonable fees and expenses of the Trust
         Company in connection with the transactions contemplated by the
         Operative Agreements, including the initial and annual Trust Company's
         fee and all reasonable fees and reasonable out-of-pocket expenses of
         the Trust Company and any necessary co-trustees (including reasonable
         counsel fees and expenses) or any successor trustee, for acting as
         trustee under the Trust Agreement;

                                     - 32 -

<PAGE>

                  (c)      any and all fees payable to, and reasonable
         out-of-pocket expenses (including reasonable counsel fees and expenses)
         of, the Investor, the Board and the Bond Sublessor;

                  (d)      all Taxes (to the extent provided in Section 11.2 of
         the Participation Agreement) and fees incurred in recording or filing
         any Operative Agreement or any other transaction document or any deed,
         declaration, deed of trust, security agreement, notice or financing
         statement with any public office, registry or governmental agency in
         connection with the transactions contemplated by the Operative
         Agreements;

                  (e)      real estate brokers' fees and all stamp, transfer and
         other similar taxes, fees and excises, if any, including any interest
         and penalties, that are payable in connection with the acquisition of
         the Facility;

                  (f)      all reasonable costs and expenses incurred in
         connection with the enforcement or preservation of any rights under the
         Operative Agreements, including the fees and expenses of counsel
         (including the allocated fees and expenses of in-house counsel) to the
         Indenture Trustee, each Noteholder, the Investor, the Board, the Bond
         Sublessor and the Bond Trustee;

                  (g)      all expenses relating to the Appraisal;

                  (h)      all costs and expenses related to the issuance of the
         Residual Value Policy and the Construction Termination Policy;

                  (i)      all reasonable costs and expenses incurred in
         connection with any amendment, supplement or modification to the
         Operative Agreements requested by the Lessor, the Lessee or the
         Guarantor and any other documents prepared in connection therewith, and
         the consummation and administration of the transactions contemplated
         thereby, including the reasonable fees and expenses of counsel to the
         Noteholders and the Investor; and

                  (j)      all reasonable costs and expenses (including
         reasonable counsel fees and expenses) incurred by the Lessor, the
         Board, the Bond Sublessor, the Lessee, the Investor, the Noteholders,
         the Indenture Trustee or the Bond Trustee in connection with any
         purchase of the Facility by the Lessee pursuant to the Lease.

                  "Trust" shall mean MCI O'Fallon 1999 Trust, a Delaware
         business trust.

                  "Trust Agreement" shall mean the Trust Agreement, dated as of
         August 31, 1999, in the form of Exhibit H to the Participation
         Agreement, between the Investor and the Trust Company.

                  "Trust Company" shall mean Wilmington Trust Company, in its
         individual capacity and any successor or replacement trustee expressly
         permitted under the Trust

                                     - 33 -

<PAGE>

         Agreement and the other Operative Agreements.

                  "Trust Estate" shall have the meaning specified in Section 2.2
         of the Trust Agreement.

                  "Trust Indenture Act" means the Trust Indenture Act of 1939
         and any similar or successor Federal statute, as amended from time to
         time, together with the rules and regulations of the Securities and
         Exchange Commission thereunder.

                  "Trustee" shall mean Wilmington Trust Company, not in its
         individual capacity, but solely as trustee of the Trust.

                  "UCC Financing Statements" shall mean collectively the
         Indenture Trustee Financing Statements, the Bond Trustee Financing
         Statements and the Lessor Financing Statements.

                  "Uniform Commercial Code" and "UCC" shall mean the Uniform
         Commercial Code as in effect in any applicable jurisdiction.

                                     - 34 -

<PAGE>

                                   SCHEDULE A

                               DESCRIPTION OF LAND

                                      - 1 -

<PAGE>

                                   SCHEDULE B

                              PAYMENT INSTRUCTIONS

              State Street Bank and Trust Company of Missouri, N.A.

                       State Street Bank and Trust Company
                                   Boston, MA
                                 ABA # 011 000 028
                          BNF: Corp. Trust - St. Louis
                                 A/C# 9903 9620
                   FFC: MasterCard International, Incorporated

                                      - 1 -<PAGE>

                                                                    EXHIBIT 10.4

================================================================================

                         CITY OF KANSAS CITY, MISSOURI,
                                   AS LESSOR,

                                       AND

                         MASTERCARD INTERNATIONAL, LLC,
                                    AS LESSEE

                                 ---------------

                                 LEASE AGREEMENT

                            DATED AS OF APRIL 1, 2003

                                 ---------------

                                  RELATING TO:

                            NOT TO EXCEED $45,000,000
                          CITY OF KANSAS CITY, MISSOURI
                        TAXABLE INDUSTRIAL REVENUE BONDS
                       (MASTERCARD INTERNATIONAL PROJECT)
                                  SERIES 2003D

================================================================================

The interest of the City of Kansas City, Missouri (the "City"), in this Lease
Agreement has been pledged and assigned to UMB Bank, N.A., as Trustee under the
Trust Indenture dated as of April 1, 2003, between the City and the Trustee.

<PAGE>

                                 LEASE AGREEMENT

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                            Page
                                                                                                            ----
<S>                                                                                                         <C>
                                    ARTICLE I
                                   DEFINITIONS

Section 1.1.      Definitions of Words and Terms........................................................     2
Section 1.2.      Rules of Interpretation...............................................................     3

                                   ARTICLE II
                                 REPRESENTATIONS

Section 2.1.      Representations by the City...........................................................     4
Section 2.2.      Representations by the Company........................................................     5

                                   ARTICLE III
                               GRANTING PROVISIONS

Section 3.1.      Granting of Leasehold Estate..........................................................     6
Section 3.2.      Lease Term............................................................................     6
Section 3.3.      Possession and Use of the Project.....................................................     7
Section 3.4.      Title to the Project..................................................................     7

                                   ARTICLE IV
                          ACQUISITION, IMPROVEMENT AND
                          INSTALLATION OF THE PROJECT

Section 4.1.      Issuance of the Bonds.................................................................     8
Section 4.2.      Acquisition, Improvement and Installation of the Project..............................     8
Section 4.3.      Project Costs.........................................................................     9
Section 4.4.      Payment for Project Costs.............................................................     9
Section 4.5.      Establishmentment of Completion Date..................................................    10
Section 4.6.      Surplus or Deficiency in Project Fund................................................     11
Section 4.7.      Project Property of City..............................................................    11
Section 4.8.      Machinery and Equipment Purchased by the Company......................................    11

                                    ARTICLE V
                                 RENT PROVISIONS

Section 5.1.      Basic Rent............................................................................    12
Section 5.2.      Additional Rent.......................................................................    12
</TABLE>

<PAGE>

<TABLE>
<S>                                                                                                         <C>
Section 5.3.      Obligations of Company Absolute and Unconditional.....................................    13
Section 5.4.      Prepayment of Basic Rent..............................................................    14
Section 5.5.      Redemption of Bonds...................................................................    14

                                   ARTICLE VI
                        MAINTENANCE, TAXES AND UTILITIES

Section 6.1.      Maintenance and Repairs...............................................................    14
Section 6.2.      Taxes, Assessments and Other Governmental Charges.....................................    15
Section 6.3.      Utilities.............................................................................    16
Section 6.4.      Property Tax Exemption................................................................    16

                                   ARTICLE VII
                                    INSURANCE

Section 7.1.      Casualty Insurance....................................................................    17
Section 7.2.      Public Liability Insurance............................................................    17
Section 7.3.      Blanket Insurance Policies ...........................................................    18
Section 7.4.      Workers Compensation Insurance........................................................    18
Section 7.5       Failure to Provide Insurance..........................................................    18

                                  ARTICLE VIII
                            ALTERATION OF THE PROJECT

Section 8.1.      Additions, Modifications and Improvements of the Project..............................    19
Section 8.2.      Permits and Authorizations............................................................    19
Section 8.3.      Mechanics' Liens......................................................................    19
Section 8.4.      Additional Improvements on Project Site...............................................    20
Section 8.5.      Removal of Parts of Project...........................................................    20

                                   ARTICLE IX
                      DAMAGE, DESTRUCTION AND CONDEMNATION

Section 9.1.      Damage and Destruction................................................................    22
Section 9.2.      Condemnation or Insured Deficiency of Title...........................................    23
</TABLE>

<PAGE>

<TABLE>
<S>                                                                                                         <C>
                                    ARTICLE X
                                SPECIAL COVENANTS

Section 10.1.     No Warranty of Condition or Suitability by the City; Exculpation and Indemnification..    23
Section 10.2.     Surrender of Possession...............................................................    23
Section 10.3.     City's Right of Access to the Project.................................................    24
Section 10.4.     Permitted Encumbrances; Leasehold Deeds of Trust......................................    24
Section 10.5.     Financing Documents...................................................................    24
Section 10.6.     Indemnification of City and Trustee...................................................    27
Section 10.7.     Depreciation, Investment Tax Credit and Other Tax Benefits............................    27
Section 10.8.     Company to Maintain its Corporate Existence...........................................    27
Section 10.9.     Security Interests....................................................................    28
Section 10.10.    Environmental Matters.................................................................    28
Section 10.11.    Obligatons under Indenture............................................................    29
Section 10.12.    Equal Opportunity in Employment.......................................................    29
Section 10.13.    Sales Taxes...........................................................................    29

                                   ARTICLE XI
                  OPTION AND OBLIGATION TO PURCHASE THE PROJECT

Section 11.1.     Option to Purchase the Project........................................................    29
Section 11.2.     Conveyance of the Project.............................................................    30
Section 11.3.     Relative Position of Option and Indenture.............................................    31
Section 11.4.     Obligation to Purchase the Project....................................................    31

                                   ARTICLE XII
                              DEFAULTS AND REMEDIES

Section 12.1.     Events of Default.....................................................................    31
Section 12.2.     Remedies on Default...................................................................    32
Section 12.3.     Survival of Obligations...............................................................    34
Section 12.4.     Performance of the Company's Obligations by the City..................................    34
Section 12.5.     Rights and Remedies Cumulative........................................................    35
Section 12.6.     Waiver of Breach......................................................................    35
Section 12.7.     Notice of Defaults Under Section 12.1; Opportunity of Company to Cure Defaults........    35
Section 12.8.     Trustee's Exercise of the City's Remedies.............................................    36
</TABLE>

<PAGE>

<TABLE>
<S>                                                                                                        <C>
                                  ARTICLE XIII
                             ASSIGNMENT AND SUBLEASE

Section 13.1.     Assignment; Sublease..................................................................    36
Section 13.2.     Assignment of Revenues by City........................................................    37
Section 13.3.     Restrictions on Sale or Encumbrance of Project by City................................    37

                                   ARTICLE XIV
                      AMENDMENTS, CHANGES AND MODIFICATIONS

Section 14.1.     Amendments, Changes and Modifications.................................................    37

                                   ARTICLE XV
                            MISCELLANEOUS PROVISIONS

Section 15.1.     Notices...............................................................................    37
Section 15.2.     City Shall Not Unreasonably Withhold Consents and Approvals...........................    39
Section 15.3.     Net Lease.............................................................................    39
Section 15.4.     No Pecuniary Liability................................................................    39
Section 15.5.     Governing Law.........................................................................    39
Section 15.6.     Binding Effect........................................................................    39
Section 15.7.     Severability..........................................................................    40
Section 15.8.     Execution in Counterparts.............................................................    40

         Signatures.....................................................................................   S-1
         Acknowledgements...............................................................................   S-2

         EXHIBIT A - PROJECT SITE
         EXHIBIT B - PROJECT IMPROVEMENTS AND EQUIPMENT
         EXHIBIT C - FORM OF REQUISITION CERTIFICATE
         EXHIBIT D - PILOT SCHEDULE
</TABLE>

<PAGE>

                                 LEASE AGREEMENT

         THIS LEASE AGREEMENT, dated as of April 1, 2003 (the "LEASE"), between
the CITY OF KANSAS CITY, MISSOURI, a constitutional charter city and municipal
corporation organized and existing under the laws of the State of Missouri (the
"CITY"), as lessor, and MASTERCARD INTERNATIONAL, LLC, a Delaware limited
liability company (the "COMPANY"), as lessee;

                                   WITNESSETH:

         WHEREAS, the City is authorized and empowered under Article VI, Section
27 of the Missouri Constitution, as amended, and Sections 100.010 to 100.200,
inclusive, of the Missouri Revised Statutes, as amended (the "ACT") to issue
revenue bonds to provide funds for the carrying out of a "project" under the Act
and to sell, lease or mortgage to private persons, partnerships or corporations
the facilities purchased, constructed or extended by the City for manufacturing,
commercial, warehousing and industrial development purposes pursuant to the Act;
and

         WHEREAS, pursuant to the Act, the governing body of the City adopted
Resolution No. 021333 on November 7, 2002, expressing the intent of the City to
issue industrial development revenue bonds in the principal amount not to exceed
$45,000,000 for the purpose of acquiring, improving and equipping the data
processing facility and associated real estate in the City (the "PROJECT SITE"
as described on Exhibit A attached hereto), and the acquisition, construction,
renovation and installation of certain real and personal property, including,
without limitation, the "PROJECT IMPROVEMENT" AND "PROJECT EQUIPMENT" (as
defined in the Indenture and on Exhibit B attached hereto), and together with
any additions, alterations, replacements, substitutions thereto, now or
hereafter acquired and installed within the facility located on the Project Site
by the Company (the "PROJECT") and authorizing the City to lease the Project to
the Company; and

         WHEREAS, the governing body of the City has heretofore passed an
ordinance (the "ORDINANCE"), authorizing the City to issue its Taxable
Industrial Revenue Bonds (MasterCard International, LLC, Project) Series 2003D,
in the maximum principal amount not to exceed $45,000,000 (the "BONDS"), for the
purpose of financing the costs of the Project, and authorizing the City to lease
the Project to the Company; and

         WHEREAS, pursuant to such Ordinance, the City is authorized to enter
into a Trust Indenture of even date herewith (the "INDENTURE"), with UMB Bank,
N.A., as Trustee (the "TRUSTEE"), for the purpose of issuing and securing the
Bonds, as therein provided, and to enter into this Lease with the Company under
which the City will improve and equip the Project and will lease the Project to
the Company in consideration of rental payments by the Company which will be
sufficient to pay the principal of and interest on the Bonds; and

<PAGE>

         WHEREAS, pursuant to the foregoing, the City desires to lease the
Project to the Company and the Company desires to lease the Project from the
City, for the rentals and upon the terms and conditions hereinafter set forth;

         NOW, THEREFORE, in consideration of the premises and the mutual
representations, covenants and agreements herein contained, the City and the
Company do hereby represent, covenant and agree as follows:

                                    ARTICLE I

                                   DEFINITIONS

         SECTION 1.1. DEFINITIONS OF WORDS AND TERMS. In addition to any words
and terms defined elsewhere in this Lease and the words and terms defined in
Section 101 of the Indenture which definitions are hereby incorporated herein by
reference, and terms defined, the following words and terms as used in this
Lease shall have the following meanings:

         "ADDITIONAL RENT" means the additional rental described in Sections 5.2
and 6.2 of this Lease.

         "BASIC RENT" means the rental described in Section 5.1 of this Lease.

         "CLOSING DATE" means April 17, 2003

         "COUNTY" means Platte County, Missouri.

         "EVENT OF DEFAULT" means any Event of Default as described in Section
12.1 of this Lease.

         "FINANCING DOCUMENTS" means any Leasehold Deed of Trust, Assignment of
Rents and Leases and Security Agreement relating to the Project and any other
leasehold mortgage or deed of trust document permitted pursuant to the
provisions of Sections 10.4 hereof.

         "FULL INSURABLE VALUE" means the actual replacement cost of the Project
less physical depreciation.

         "INDENTURE" means the Trust Indenture, dated as of April 1, 2003,
between the City and the Trustee, as from time to time amended and supplemented
in accordance with the provisions thereof.

                                      -2-

<PAGE>

         "LEASE" means this Lease Agreement, between the City and the Company,
as from time to time amended and supplemented in accordance with the provisions
of this Lease and Article XII of the Indenture.

         "LEASEHOLD DEED OF TRUST" means any leasehold deed of trust relating to
the Project permitted pursuant to the provisions of Section 10.4(b) hereof.

         "LEASE TERM" means the period from the Closing Date until the
expiration thereof pursuant to Section 3.2 of this Lease.

         "NET PROCEEDS" means, when used with respect to any insurance or
condemnation award with respect to the Project, the gross proceeds from the
insurance or condemnation award with respect to which the term is used remaining
after the payment of all expenses (including attorneys' fees, trustee's fees and
any extraordinary expenses of the City and the Trustee) incurred in the
collection of such gross proceeds.

         "PERMITTED ENCUMBRANCES" means, as of any particular time (a) liens for
ad valorem taxes and special assessments not then delinquent, (b) the Indenture,
(c) this Lease, (d) any Leasehold Deed of Trust permitted by Section 10.4(b),
(e) such minor defects, irregularities, encumbrances, easements, mechanic's
liens, rights-of-way and clouds on title as normally exist with respect to
properties similar in character to the Project and as do not in the aggregate
materially impair the property affected thereby for the purpose for which it was
acquired or is held by the City, and (f) any other lien, encumbrance, lease,
easements, restrictions or covenants consented to in writing by the Owner of
100% of the outstanding principal amount of the Bond.

         "PILOTS" means the payments in lieu of tax to be made by the Company
pursuant to Section 6.4 hereof.

         "PROJECT" means the Project Site, Project Equipment and Project
Improvements.

         "PROJECT EQUIPMENT" means all items of personal property, including,
without limitation, furniture, fixtures, machinery, equipment or other personal
property acquired or installed or acquired or to be acquired for installation in
the Project Improvements or elsewhere on the Project Site pursuant to Article IV
of this Lease and paid for in whole or in part from the proceeds of the Bonds,
as described in Exhibit B attached hereto, and all replacements thereof and
substitutions therefor made pursuant to this Lease.

         "PROJECT IMPROVEMENTS" means all buildings, structures, improvements
and fixtures located on or to be purchased, constructed and other improved on
the Project Site.

         "PROJECT SITE" means all of the real estate described in Exhibit A
attached hereto.

                                      -3-

<PAGE>

         SECTION 1.2. RULES OF INTERPRETATION.

         (a)      Words of the masculine gender shall be deemed and construed to
                  include correlative words of the feminine and neuter genders.

         (b)      Unless the context shall otherwise indicate, words importing
                  the singular number shall include the plural and vice versa,
                  and words importing persons shall include firms, associations
                  and corporations, including governmental entities, as well as
                  natural persons.

         (c)      Wherever in this Lease it is provided that either party shall
                  or will make any payment or perform or refrain from performing
                  any act or obligation, each such provision shall, even though
                  not so expressed, be construed as an express covenant to make
                  such payment or to perform, or not to perform, as the case may
                  be, such act or obligation.

         (d)      All references in this instrument to designated "Articles,"
                  "Sections" and other subdivisions are, unless otherwise
                  specified, to the designated Articles, Sections and
                  subdivisions of this instrument as originally executed. The
                  words "herein," "hereof," "hereunder" and other words of
                  similar import refer to this Lease as a whole and not to any
                  particular Article, Section or other subdivision.

         (e)      The Table of Contents and the Article and Section headings of
                  this Lease shall not be treated as a part of this Lease or as
                  affecting the true meaning of the provisions hereof.

                                   ARTICLE II

                                 REPRESENTATIONS

         SECTION 2.1. REPRESENTATIONS BY THE CITY. The City makes the following
representations as the basis for the undertakings on its part herein contained:

         (a)      The City is a constitutional charter city and municipal
                  corporation duly organized and validly existing under the laws
                  of the State of Missouri. Under the provisions of the Act, the
                  City has lawful power and authority to enter into the
                  transactions contemplated by this Lease and to carry out its
                  obligations hereunder. By proper action of its governing body,
                  the City has been duly authorized to execute and deliver this
                  Lease, acting by and through its duly authorized officers.

                                      -4-

<PAGE>

         (b)      The City proposes to provide, or cause to be provided, funds
                  for the acquisition, construction renovation and installation
                  of the Project. The City proposes to lease the Project to the
                  Company and sell the Project to the Company if the Company
                  exercises its option to purchase the Project, all for the
                  purpose of furthering the public purposes of the Act, and the
                  governing body of the City has found and determined that the
                  acquisition, construction, renovation and installation of the
                  Project will further the public purposes of the Act.

         (c)      To finance the costs of the Project, the City proposes to
                  issue the Bonds which will be scheduled to mature as set forth
                  in Article II of the Indenture and will be subject to
                  redemption prior to maturity in accordance with the provisions
                  of Article III of the Indenture.

         (d)      The Bonds are to be issued under and secured by the Indenture,
                  pursuant to which the Project, including all rents, revenues
                  and receipts to be derived by the City from the leasing or
                  sale of the Project, will be pledged and assigned to the
                  Trustee as security for payment of the principal of and
                  interest on the Bonds.

         (e)      The City will not mortgage the Project or pledge the revenues
                  derived therefrom for any bonds or other obligations other
                  than the Bonds except with the written consent of the
                  Authorized Company Representative.

         (f)      The City shall, during the Lease Term, have no authority to
                  operate the Project as a business or in any other manner
                  except as the lessor thereof.

         (g)      The acquisition, improvement and installation of the Project
                  and the leasing of the Project by the City to the Company will
                  further the public purposes of the Act.

         (h)      No member of the governing body of the City or any other
                  officer of the City has any significant or conflicting
                  interest, financial, employment or otherwise, in the Company
                  or in the transactions contemplated hereby.

         (i)      The Project is located wholly within the corporate limits of
                  the City of Kansas City, Missouri.

         SECTION 2.2. REPRESENTATIONS BY THE COMPANY. The Company makes the
following representations as the basis for the undertakings on its part herein
contained:

         (a)      The Company is a limited liability company duly formed,
                  validly existing and in good standing under the laws of the
                  State of Delaware and is

                                      -5-

<PAGE>

                  qualified to do business and is in good standing under the
                  laws of the State of Missouri.

         (b)      The Company has lawful power and authority to enter into this
                  Lease and to carry out its obligations hereunder, and by
                  proper corporate action the individual who executes and
                  delivers this Lease on behalf of the Company is and shall be
                  duly authorized to do so and the same shall constitute the
                  valid, binding obligation of the Company.

         (c)      The execution and delivery of this Lease, the consummation of
                  the transactions contemplated hereby, and the performance of
                  or compliance with the terms and conditions of this Lease by
                  the Company will not conflict with or result in a material
                  breach of any of the terms, conditions or provisions of, or
                  constitute a material default under, any mortgage, deed of
                  trust, lease or any other corporate restrictions or any
                  agreement or instrument to which the Company is a party or by
                  which it or any of its property is bound, or the Company's
                  Certificate of Formation or Limited Liability Company
                  Agreement or any order, rule or regulation applicable to the
                  Company or any of its property of any court or governmental
                  body, or constitute a material default under any of the
                  foregoing, or result in the creation or imposition of any
                  prohibited lien, charge or encumbrance of any nature
                  whatsoever upon any of the property or assets of the Company
                  under the terms of any instrument or agreement to which the
                  Company is a party.

         (d)      The estimated costs of acquiring, improving and installing the
                  Project are in accordance with sound engineering, management
                  and accounting principles.

         (e)      The Company's operation of the Project will comply with all
                  presently applicable building and zoning, health,
                  environmental and safety ordinances and laws and, to the best
                  of its knowledge, without independent investigation, with all
                  other applicable laws, rules and regulations.

         (f)      The Project shall be located wholly within the corporate
                  limits of the City.

                                   ARTICLE III

                               GRANTING PROVISIONS

         SECTION 3.1. GRANTING OF LEASEHOLD ESTATE. Effective as of the Closing
Date, the City hereby rents, leases and lets the Project to the Company, and the
Company

                                      -6-

<PAGE>

hereby rents, leases and hires the Project from the City, subject to Permitted
Encumbrances, for the rentals and upon and subject to the terms and conditions
herein contained.

         SECTION 3.2. LEASE TERM. This Lease shall have an initial term (the
"LEASE TERM") commencing on the Closing Date and terminating December 31, 2013,
subject to sooner termination pursuant to the provisions of this Lease.

         SECTION 3.3. POSSESSION AND USE OF THE PROJECT.

         (a)      The City covenants and agrees that as long as neither the City
                  nor the Trustee has exercised any of the remedies set forth in
                  Section 12.2(b) or 12.2(c) following the occurrence and
                  continuance of an Event of Default, the Company shall have
                  sole and exclusive possession of the Project (subject to
                  Permitted Encumbrances and the City's and the Trustee's right
                  of access pursuant to Section 10.3 hereof) and shall and may
                  peaceably and quietly have, hold and enjoy the Project during
                  the Lease Term. The City covenants and agrees that it will not
                  take any action, other than expressly pursuant to Article XII
                  of this Lease, to prevent the Company from having quiet and
                  peaceable possession and enjoyment of the Project during the
                  Lease Term and will, at the request and expense of the
                  Company, cooperate with the Company in order that the Company
                  may have quiet and peaceable possession and enjoyment of the
                  Project and will defend the Company's enjoyment and possession
                  thereof against all parties.

         (b)      Subject to the provisions of this Section, the Company shall
                  have the right to use the Project for any lawful purpose
                  allowed by law and contemplated by the Act. The Company shall
                  comply with all statutes, laws, ordinances, orders, judgments,
                  decrees, regulations, directions and requirements of all
                  federal, state, local and other governments or governmental
                  authorities, now or hereafter applicable to the Project or to
                  any adjoining public ways, as to the manner of use or the
                  condition of the Project or of adjoining public ways. The
                  Company shall also comply with the mandatory requirements,
                  rules and regulations of all insurers under the policies
                  carried under the provisions of Article VII hereof. The
                  Company shall pay all costs, expenses, claims, fines,
                  penalties and damages that may in any manner arise out of, or
                  be imposed as a result of, the failure of the Company to
                  comply with the provisions of this Section. Notwithstanding
                  any provision contained in this Section, however, the Company
                  shall have the right, at its own cost and expense, to in good
                  faith contest or review by legal or other appropriate
                  procedures the validity or legality of any such governmental
                  statute, law, ordinance, order, judgment, decree, regulation,
                  direction or requirement, or any such requirement, rule or
                  regulation of an

                                      -7-

<PAGE>

                  insurer, and during such contest or review the Company may
                  refrain from complying therewith.

         SECTION 3.4. TITLE TO THE PROJECT. The City shall be the sole owner of
the Project; provided, however, that the Company alone shall be entitled to
deduct all depreciation on the Project on the Company's income tax returns, and
the City agrees to provide reasonable cooperation with the Company, at the
expense of the Company, in obtaining favorable federal or state income tax or
sales tax treatment of the lease, sale or repurchase of the Project.

                                   ARTICLE IV

            ACQUISITION, IMPROVEMENT AND INSTALLATION OF THE PROJECT

         SECTION 4.1. ISSUANCE OF THE BONDS.

         In order to provide funds for the payment of the Project Costs, the
City agrees that it will issue, sell and cause to be delivered to the purchaser
thereof the Bonds in accordance with the provisions of the Indenture and the
Bond Purchase Agreement. The proceeds of the sale of the Bonds, when received,
shall be paid over to the Trustee for the account of the City. The Trustee shall
promptly deposit such proceeds, when received, as provided in the Indenture, to
be used and applied as hereinafter provided in this Article and in the
Indenture.

         SECTION 4.2. ACQUISITION, IMPROVEMENT AND INSTALLATION OF THE PROJECT.
The City and the Company agree that the City will (and the Company as the agent
of the City shall), but solely from the Project Fund, proceed with the
acquisition, improvement and installation of the Project as follows:

         (a)      The City will acquire full and complete absolute title in and
                  to the Project at the execution hereof which the Company
                  desires to convey to the City and from time to time will
                  acquire additional improvements and equipment to be installed
                  at the Project. The Company will, on behalf of the City, cause
                  the Project Improvements to be made in the Project on the
                  Project Site.

         (b)      Prior to or concurrently with the execution of this Lease a
                  bill of sale and any other necessary instruments of transfer
                  will be delivered to the City. An additional bill of sale for
                  Project Equipment acquired after the Closing Date will be
                  delivered to the City from time to time along with the
                  requisition seeking reimbursement pursuant to Section 4.4
                  hereof or upon completion of the acquisition of the Project on
                  behalf of the City. The City and the Company recognize that
                  the Project Equipment is subject to change pursuant to the
                  provisions of this Lease, and agree that the definitive list
                  of the Project

                                      -8-

<PAGE>

                  Equipment shall be the list maintained by the Trustee pursuant
                  to Section 10.9 of this Lease.

         (c)      The Company agrees that it will use its best efforts to cause
                  the Project to be completed as soon as practicable with all
                  reasonable dispatch. In the event the acquisition and
                  installation of Project commences prior to the receipt of
                  proceeds from the sale of the Bonds, the Company agrees to
                  advance all funds necessary for such purpose.

         (d)      The Project Site, all Project Improvements and all Project
                  Equipment shall be owned by the City and the Company agrees to
                  execute and deliver to the City all deeds, bills of sale and
                  any other necessary instruments of transfer to vest title to
                  the Project Site, the Project Improvements and the Project
                  Equipment in the City.

         (e)      The City will (i) cooperate with the Company so that any
                  applicable sales tax will apply to the equipment as purchased
                  rather than through taxation of lease payments, (ii) sign
                  exemption certificates for those portions of the Project
                  exempt from sales tax and (iii) cooperate with the Company
                  with respect to any audit by any taxing authority in
                  connection with the Project but solely at the expense of the
                  Company.

         SECTION 4.3. PROJECT COSTS. The City hereby agrees to pay for, but
solely from moneys available therefor in the Project Fund, and hereby authorizes
and directs the Trustee to pay for, but solely from moneys available therefor in
the Project Fund, all Project Costs upon receipt by the Trustee of a certificate
pursuant to Section 4.4 hereof.

         SECTION 4.4. PAYMENT FOR PROJECT COSTS. Subject to Section 503 of the
Indenture, all Project Costs as specified in Section 4.3 hereof shall be paid by
the Trustee from the Project Fund. The City hereby authorizes and directs the
Trustee to make disbursements from moneys available therefor in the Project
Fund, upon receipt by the Trustee of certificates in substantially the form
attached hereto as Exhibit C, signed by an Authorized Company Representative:

         (a)      requesting payment of a specified amount of such funds and
                  stating the name and address of the person, firm or
                  corporation to whom such amount shall be paid or has been paid
                  in the event the Company is requesting reimbursement;

         (b)      describing in reasonable detail each item of Project Costs for
                  which payment is being requested;

         (c)      stating that each item for which payment is requested is or
                  was necessary and appropriate in connection with the
                  acquisition, improvement and installation of the Project, has
                  been properly incurred and is a proper charge against the

                                      -9-

<PAGE>

                  Project Fund, that the amount requested either has been paid,
                  or is justly due, and has not been the basis of any previous
                  requisition certificate from the Project Fund;

         (d)      stating that, except for the amounts, if any, stated in said
                  certificate, to the best of their knowledge there are no
                  outstanding statements which are then due and payable for
                  labor, wages, materials, supplies or services in connection
                  with the acquisition and installation of the Project which, if
                  unpaid, might become the basis of a vendors', mechanics',
                  laborers' or materialmen's statutory or other similar lien
                  upon the Project or any part thereof, unless such lien is
                  being contested pursuant to Section 8.3(b) hereof; and

         (e)      having attached thereto for the purpose of proper direction of
                  payment a bill of sale or other written evidence of the
                  acquisition.

         The Trustee may rely conclusively on any such certificate delivered by
the Company pursuant to this Section and shall not be required to make any
independent investigation in connection therewith. The Trustee may rely
conclusively upon each such bill of sale or written evidence so presented and
shall have no duty or responsibility to determine the accuracy, adequacy or
appropriateness thereof or to identify the items of personal property to which
such may apply.

         The Company shall deliver to the Trustee all bills of sale or other
written evidence of the acquisition of the Project on behalf of the City at the
time of delivery of such requisition certificates.

         Notwithstanding the foregoing, at any time the Company is the sole
Bondowner, if the Bondowner advances funds directly for the Project Costs in
connection with the Company's expenditures, the City and the Company acknowledge
that such funds shall not be required to be deposited into the Project Fund, but
shall be deemed to be nonetheless a deposit by the Bondowner into the Project
Fund and shall be an Additional Payment within the meaning of Section 5.02 of
the Indenture, and a draw equal to such sums therefrom, as provided in this
Section 4.4, upon which the Trustee may conclusively rely, based upon the
Company's delivery to the Trustee of a requisition certificate otherwise
conforming to the requirements contained in this Section 4.4 that confirms the
amount of such advances by the Bondowner.

         SECTION 4.5. ESTABLISHMENT OF COMPLETION DATE. The Completion Date
shall be evidenced to the Trustee by a certificate signed by the Authorized
Company Representative stating (a) that the Project has been completed,
$45,000,000 of Project has been acquired pursuant to this Lease, or the Lease
Term has expired, (b) that all costs and expenses incurred in the Project have
been paid except costs and expenses the payment of which is not yet due or is
being retained or contested in good faith by the Company, (c) amounts to

                                      -10-

<PAGE>

be retained by Trustee with respect to item (b) above, and (d) an itemized
descriptive list of all Project Costs. Notwithstanding the foregoing, such
certificate shall state that it is given without prejudice to any rights against
third parties which exist at the date of such certificate or which may
subsequently come into being. The Company and the City agree to cooperate in
causing such certificate to be furnished to the Trustee.

         SECTION 4.6. SURPLUS OR DEFICIENCY IN PROJECT FUND.

         (a)      Upon receipt of the certificate described in Section 4.5
                  hereof, the Trustee shall, as provided in Section 504 of the
                  Indenture, transfer any remaining moneys then in the Project
                  Fund to the Bond Fund, and the Company agrees to cooperate
                  with the Trustee and take all required action necessary to
                  redeem a portion of the Bonds.

         (b)      If the Project Fund shall be insufficient to pay fully all
                  Project Costs and to complete the acquisition and installation
                  of the Project lien free, the Company shall pay to the Trustee
                  for deposit in the Project Fund the full amount of such
                  deficiency for disbursement by the Trustee pursuant to the
                  procedures set forth in Section 4.4 hereof, and the Company
                  shall save the City and the Trustee whole and harmless from
                  any obligation to pay such deficiency.

         SECTION 4.7. PROJECT PROPERTY OF CITY. The Project at the execution
hereof and which the Company purchases hereafter, and all additions to the
Project are deemed to be, or constitute part of the Project, and the Project as
repaired, rebuilt, rearranged, restored or replaced by the Company under the
provisions of this Lease, except as otherwise specifically provided herein,
shall immediately when purchased become the absolute property of the City,
subject only to this Lease and the Indenture. The Company shall deliver to the
City and the Trustee by April 1 of each year, a detailed listing of all of the
Project as required by Section 10.9, certified to the City and the Trustee by
the Authorized Company Representative and this listing may be conclusively
relied upon by the Trustee. The City shall have the right to request and review
such reasonable supporting documentation from the Company with respect to such
Project. The inadvertent failure by the Company to include or exclude an item in
such list shall not constitute an Event of Default under this Lease.

         SECTION 4.8. MACHINERY AND EQUIPMENT PURCHASED BY THE COMPANY. Except
for the Project, any other personal property, including without limitation,
furniture, fixtures, machinery or equipment, the entire purchase price of which
is paid for by the Company with the Company's own funds, and no part of the
purchase price of which is paid for from funds deposited pursuant to the terms
of the Indenture or this Lease in the Project Fund, or from funds provided by
the City pursuant to Section 4.3 of this Lease, shall be the property of the
Company.

                                      -11-

<PAGE>

                                    ARTICLE V

                                 RENT PROVISIONS

         SECTION 5.1. BASIC RENT. The Company covenants and agrees to pay to the
Trustee in same day funds for the account of City during this Lease Term, for
deposit in the Bond Fund on or before 10:00 A.M., Trustee's local time, on or
before each February 1 during the Lease Term commencing February 1, 2004, and in
the appropriate amounts, the next occurring payments of principal and the
interest on the Bonds in accordance with the provisions of the Indenture, as
Basic Rent for the Project, in an amount which, when added to any collected
funds then on deposit in the Bond Fund and available for the payment of
principal on the Bonds and the interest thereon on such payment date, shall be
equal to the amount payable on such payment date as principal of the Bonds and
the interest thereon as provided in the Indenture. All payments of Basic Rent
provided for in this Section shall be paid directly to the Trustee, or as
otherwise provided in Section 204 of the Indenture, and shall be deposited in
accordance with the provisions of the Indenture into the Bond Fund and shall be
used and applied by the Trustee in the manner and for the purposes set forth in
this Lease and the Indenture.

         Subject to the other provisions of this Agreement and the Indenture, at
any time that the Company is the sole Bondowner, the Company may at its option
make principal and/or interest payments of Basic Rent by tendering a portion of
the principal amount of the Bonds and interest thereon equal to such principal
payment and interest thereon to the Trustee for cancellation.

         SECTION 5.2. ADDITIONAL RENT. The Company shall pay to the appropriate
party as Additional Rent the following amounts:

         (a)      all reasonable fees, costs, charges and expenses, including,
                  without limitation, agent and counsel fees, of the Trustee and
                  the Paying Agent incurred under the Indenture, as and when the
                  same become due after the Company's receipt of an invoice
                  therefor;

         (b)      all reasonable fees, charges, expenses and costs including,
                  without limitation agent and counsel fees, incident to the
                  issuance of the Bonds and the payment of the principal of and
                  interest on the Bonds as the same becomes due and payable,
                  including all costs and expenses in connection with the call,
                  redemption and payment of all outstanding Bonds;

         (c)      all reasonable fees, charges, costs and expenses (including,
                  without limitation, attorney's fees and expenses) reasonably
                  incurred in connection with the enforcement of any rights
                  against the Company or the Project

                                      -12-

<PAGE>

                  under this Lease or the Indenture by the City, the Trustee or
                  the Bondowners after the Company's receipt of an invoice
                  therefor;

         (d)      An amount sufficient to reimburse the City for all expenses
                  reasonably incurred by the City hereunder and in connection
                  with the performance of its or the Company's obligations under
                  this Lease or the Indenture;

         (e)      The PILOTs required by Section 6.4 hereof; and

         (f)      All other payments of whatever nature which the Company has
                  agreed to pay or assume under the provisions of this Lease.

         In each instance in which this Lease, whether in this Section 5.2 or
         elsewhere, provides for compensation, reimbursement or indemnification
         of the Trustee, such provision shall be deemed to provide for, whether
         or not expressly so stated, the payment of all reasonably related fees,
         costs, charges, advances and expenses of the Trustee (including,
         without limitation, attorney's fees and expenses), unless the context
         shall clearly indicate otherwise.

         SECTION 5.3. OBLIGATIONS OF COMPANY ABSOLUTE AND UNCONDITIONAL.

         (a)      The obligations of the Company under this Lease to make
                  payments of Basic Rent and Additional Rent on or before the
                  date the same become due, and to perform all of its other
                  obligations, covenants and agreements hereunder shall be
                  absolute and unconditional, without notice or demand, and
                  without abatement, deduction, set-off, counterclaim,
                  recoupment or defense or any right of termination or
                  cancellation arising from any circumstances whatsoever,
                  whether now existing or hereafter arising, and irrespective of
                  whether the Project shall have been started or completed, or
                  whether the City's title thereto or to any part thereof is
                  defective or nonexistent, and notwithstanding any damage to,
                  loss, theft or destruction of, the Project or any part
                  thereof, or any failure of consideration or frustration of
                  commercial purpose, the taking by eminent domain of title to
                  or of the right of temporary use of all or any part of the
                  Project, legal curtailment of the Company's use thereof, the
                  eviction or constructive eviction of the Company, any change
                  in the tax or other laws of the United States of America, the
                  State of Missouri or any political subdivision thereof, any
                  change in the City's legal organization or status, or any
                  default of the City hereunder, and regardless of the
                  invalidity of any action of the City, and regardless of the
                  invalidity of any portion of this Lease.

         (b)      Nothing in this Lease shall be construed to release the City
                  from the performance of any agreement on its part herein
                  contained or as a waiver by the Company of any rights or
                  claims the Company may have against

                                      -13-

<PAGE>

                  City under this Lease or otherwise, but any recovery upon such
                  rights and claims shall be had from the City separately, it
                  being the intent of this Lease that the Company shall be
                  unconditionally and absolutely obligated to perform fully all
                  of its obligations, agreements and covenants under this Lease
                  (including the obligation to pay Basic Rent and Additional
                  Rent) for the benefit of the Bondowners. The Company may,
                  however, at its own cost and expense and in its own name or in
                  the name of the City, prosecute or defend any action or
                  proceeding or take any other action involving third persons
                  which the Company deems reasonably necessary in order to
                  secure or protect its right of possession, occupancy and use
                  hereunder, and in such event the City hereby agrees to
                  cooperate fully with the Company and to take all action
                  necessary to effect the substitution of the Company for the
                  City in any such action or proceeding if the Company shall so
                  request.

         SECTION 5.4. PREPAYMENT OF BASIC RENT. The Company may at any time
prepay all or any part of the Basic Rent provided for hereunder in accordance
with Section 302(a) of the Indenture. The Company shall prepay the amount of
Basic Rent provided for hereunder to cause the mandatory redemption of all or
part of the Bonds in accordance with the provisions of Section 302(b) of the
Indenture.

         SECTION 5.5. REDEMPTION OF BONDS. If the Company is not in default in
the payment of Basic Rent, the City and the Trustee, at the written direction of
the Company, at any time that the aggregate moneys in the Bond Fund are
sufficient for such purposes, shall (a) if the same are then redeemable under
the provisions of Article III of the Indenture, take all steps that may be
necessary under the applicable redemption provisions of the Indenture to effect
the redemption of all or such part of the then Outstanding Bonds as may be
specified by the Company, on such redemption date as may be specified by the
Company, (b) cause such moneys in the Bond Fund or such part thereof as the
Company shall direct, to be applied by the Trustee as is reasonably possible,
pursuant to the written direction of the Company, for the purchase of Bonds in
the open market for the purpose of cancellation at prices not exceeding the
principal amount thereof plus accrued interest thereon to the date of delivery
for cancellation, or (c) a combination of (a) and (b) as provided in such
direction.

         The Bonds shall be subject to mandatory redemption upon the termination
or expiration of the Lease.

                                   ARTICLE VI

                        MAINTENANCE, TAXES AND UTILITIES

         SECTION 6.1. MAINTENANCE AND REPAIRS. Throughout the Lease Term the
Company shall, at its own expense, keep the Project in as reasonably safe
condition as the

                                      -14-

<PAGE>

operation thereof will permit, and keep the Project in good repair and in good
operating condition ordinary wear and tear and damage by fire or other casualty
excepted, making from time to time all necessary repairs thereto and renewals
and replacements thereof.

         SECTION 6.2. TAXES, ASSESSMENTS AND OTHER GOVERNMENTAL CHARGES.

         (a)      The Project is expected to be exempt from ad valorem taxes as
                  more fully described in Section 6.4 hereof. The Company shall
                  promptly pay and discharge, as the same become due, all taxes
                  and assessments, general and special, and other governmental
                  charges of any kind whatsoever that may be lawfully taxed,
                  charged, levied, assessed or imposed upon or against or be
                  payable for or in respect of the Project, or any part thereof
                  or interest therein (including the leasehold estate of the
                  Company therein) or the income therefrom or Basic Rent and
                  other amounts payable under this Lease, including any new
                  taxes and assessments not of the kind enumerated above to the
                  extent that the same are lawfully made, levied or assessed in
                  lieu of or in addition to taxes or assessments now customarily
                  levied against real or personal property, and further
                  including all utility charges, assessments and other general
                  governmental charges and impositions whatsoever, foreseen or
                  unforeseen, which if not paid when due would impair the
                  security of the Bonds or encumber the City's title to the
                  Project; provided that with respect to any special assessments
                  or other governmental charges that are lawfully levied and
                  assessed which may be paid in installments, the Company shall
                  be obligated to pay only such installments thereof as become
                  due and payable during the Lease Term.

         (b)      The Company shall have the right, in its own name or in the
                  City's name, to contest the validity or amount of any tax,
                  assessment or other governmental charge which the Company is
                  required to bear, pay and discharge pursuant to the terms of
                  this Article by appropriate legal proceedings instituted on
                  the later of (1) the day that is at least 10 days before the
                  tax, assessment or other governmental charge complained of
                  becomes delinquent and (2) the expiration date of the
                  applicable contest period, if and provided (i) the Company,
                  before instituting any such contest, gives the City written
                  notice of its intention so to do, (ii) the Company diligently
                  prosecutes any such contest, at all times effectively stays or
                  prevents any official or judicial sale therefor, under
                  execution or otherwise, and (iii) the Company promptly pays
                  any final judgment enforcing the tax, assessment or other
                  governmental charge so contested and thereafter promptly
                  procures record release or satisfaction thereof. The City
                  agrees to cooperate fully with the Company in connection with
                  any and all administrative or judicial proceedings related to
                  any tax, assessment or other governmental charge. The Company
                  shall hold the

                                      -15-

<PAGE>

                  City whole and harmless from any costs and expenses the City
                  may incur related to any of the above.

         SECTION 6.3. UTILITIES. All utilities and utility services used by the
Company in, on or about the Project Site shall be paid for by the Company and
shall be contracted for by the Company in the Company's own name, and the
Company shall, at its sole cost and expense, procure any and all permits,
licenses or authorizations necessary in connection therewith.

         So long as the Company is not in default under this Lease, all
easements, leases and license agreements that comprise a part of the Project
shall insure to the benefit of and be a burden upon the Company. The Company is
authorized to exercise all rights and perform all obligations under all such
easements, leases and license agreements in the Company's own name at the
Company's sole cost. The City shall provide the Company with such confirmation
of the foregoing authority as reasonably may be required from time to time.

         SECTION 6.4. PROPERTY TAX EXEMPTION.

         (a)      The City and the Company agree that while the Project is owned
                  by the City and is subject to this Lease, the Project is
                  expected to be exempt from ad valorem taxes by reason of such
                  ownership. Notwithstanding the foregoing, the Company will
                  annually pay to the City and the County the PILOTs with
                  respect to the Project in accordance with the terms and
                  provisions and in the amounts set forth on Exhibit D. Each
                  PILOT shall be paid no later than December 31st of each year
                  commencing December 31, 2004, in which the Company would be
                  required to pay real and personal property taxes if the
                  Project had not been owned by the City. The amount of PILOTS
                  to be paid hereunder shall be reduced in any year by any
                  amounts paid by the Company on account of ad valorem taxes on
                  the Project and/or personal property taxes levied against the
                  Company's interest in the Project (including its leasehold
                  interest), except for special assessments.

         (b)      The City and the Company intend that at least 25 jobs shall be
                  created by the Project. The Company shall certify to the City
                  the number of new jobs created by the Project on the date that
                  the PILOT is paid as provided in subsection (a) of this
                  Section. If the number of new jobs created by the Project is
                  less than 25 or the aggregate salary for the new jobs is less
                  than $837,500, the Company shall pay the City an additional
                  PILOT payment ("Additional PILOT") according to the "Clawback"
                  schedule set forth on Exhibit D attached hereto. The
                  Additional PILOT payment shall be made on the date that the
                  PILOT payment is made. The Company agrees to

                                      -16-

<PAGE>

                  apply for, and submit to the City, a withholding tax
                  identification number exclusively for the Project Site.

         (c)      The Company agrees to pay to the City to the City Treasurer on
                  each January 1st after the Company's receipt of an invoice
                  therefor, commencing on January 1, 2004, an annual
                  administrative fee of $1,500 to reimburse the City for all
                  expenses reasonably incurred by the City in connection with
                  the performance of its obligations under this Lease and the
                  Indenture.

         (d)      In the event the PILOTs, are not paid by the due date,
                  December 31 of the applicable year as provided in subsection
                  (a) of this Section, the PILOTS shall bear interest commencing
                  on their due date at 1 1/2% per month until paid.

                                   ARTICLE VII

                                    INSURANCE

         SECTION 7.1. CASUALTY INSURANCE. The Company shall at its sole cost and
expense obtain and shall maintain throughout the Lease Term, a policy or
policies of insurance on an all-risk policy form to keep the Project constantly
insured against loss or damage by fire, lightning and all other comparable
insurable risks in an amount equal to the replacement value thereof (subject to
loss deductible provisions no greater than $100,000 without the prior written
consent of the Bondowner). The insurance required pursuant to this Section shall
be maintained at the Company's sole cost and expense and shall be maintained
with generally recognized responsible insurance company rated A or higher by AM
Best and authorized to do business in the State of Missouri as may be selected
by the Company. Certificates of insurance for the policies required under this
Section, each bearing notations evidencing payment of the premiums or other
evidence of such payment, shall be delivered by the Company to the Trustee on
the date of execution of this Lease and not less than ten days prior to the
expiration date of each insurance policy. All such policies of insurance
pursuant to this Section, and all renewals thereof, shall name the City, the
Company and the Trustee as insureds as their respective interests may appear,
and shall state that the carrier will endeavor to notify the certificate holder
of any cancellations by the insurer with at least thirty (30) days' prior
written notice to the City, the Company and the Trustee.

         SECTION 7.2. PUBLIC LIABILITY INSURANCE.

         (a)      The Company shall at its sole cost and expense maintain or
                  cause to be maintained at all times during the Lease Term
                  commercial general accident and public liability insurance
                  (including but not limited to

                                      -17-

<PAGE>

                  coverage for all losses whatsoever arising from the ownership,
                  maintenance, operation or use of any automobile, truck or
                  other motor vehicle), properly protecting and indemnifying the
                  Company, the City and the Trustee, in an amount not less than
                  $3,000,000 combined single limit for bodily injury (including
                  death) and property damage for each occurrence (subject to
                  reasonable loss deductible clauses not to exceed $500,000).
                  All such policies of insurance pursuant to this Section, an
                  all renewals thereof, shall name the City, the Company and the
                  Trustee as additional insured and state that the carrier will
                  endeavor to notify the certificate holder of any cancellations
                  by the insurer with at least thirty (30) prior written notice
                  to the City, the Company and the Trustee. Certificates of
                  insurance shall be furnished to the Trustee.

         (b)      In the event of a public liability occurrence, the Net
                  Proceeds of liability insurance carried pursuant to this
                  Section shall be applied toward the extinguishment or
                  satisfaction of the liability with respect to which such
                  proceeds have been paid.

         SECTION 7.3. BLANKET INSURANCE POLICIES. The Company may satisfy any of
the insurance requirements set forth in this Article by using blanket policies
of insurance, provided each and all of the requirements and specifications of
this Article respecting insurance are unfulfilled.

         SECTION 7.4. WORKERS COMPENSATION INSURANCE. The Company will maintain
workers compensation insurance in accordance with the laws of the State of
Missouri at all times during the Lease Term and shall deliver certificates
demonstrating such to the Trustee.

         SECTION 7.5. FAILURE TO PROVIDE INSURANCE. Unless the Company provides
the evidence of insurance coverage required by this Lease, the City or the
Trustee may purchase insurance at the expense of the Company to protect the
interests of the City, the Trustee and the Bondowners in the Project. Prior to
purchasing the insurance notice shall be given to the Company of such failure to
provide evidence of insurance coverage and Company shall have three business
days after receipt of such notice to provide evidence of such insurance. This
insurance may, but need not, protect the interests of the Company. The coverage
that the City or the Trustee purchase may not pay any claim that the Company may
make or that is made against the Company in connection with the Project. The
Company may later cancel or cause to be cancelled any insurance purchased by the
City or the Trustee, but only after providing evidence to the City and the
Trustee that the Company has obtained insurance as required by this Lease. If
the City or the Trustee purchase insurance relating to the insurance coverage
required by this Lease, the Company will be responsible for the costs of that
insurance, including the insurance premium, interest and any other charges that
the City or the Trustee may impose in connection with the placement of the
insurance, until the effective date of the cancellation

                                      -18-

<PAGE>

or expiration of the insurance. The costs of the insurance may be added to the
total balance or obligation due hereunder. The costs of the insurance may be
more than the cost of insurance that the Company may be able to obtain on its
own.

                                  ARTICLE VIII

                            ALTERATION OF THE PROJECT

         SECTION 8.1. ADDITIONS, MODIFICATIONS AND IMPROVEMENTS OF THE PROJECT.
The Company shall have and is hereby given the right, at its sole cost and
expense, to make such additions, modifications and improvements in and to any
part of the Project as the Company from time to time may deem necessary or
desirable for its business purposes. All additions, modifications and
improvements made by the Company pursuant to the authority of this Section shall
(a) be made in workmanlike manner and in compliance with all laws and ordinances
applicable thereto, (b) when commenced, be prosecuted to completion with due
diligence, and (c) when completed, be deemed a part of the Project.
Notwithstanding the foregoing, all severable items of machinery and equipment
installed in the Project by the Company not purchased or acquired from funds
deposited with the Trustee (or funds deemed deposited with the Trustee if the
Company is the sole Bondowner pursuant to Section 4.4 hereof) shall remain the
property of the Company and may be removed by the Company.

         SECTION 8.2. PERMITS AND AUTHORIZATIONS. The Company shall not do or
permit others under its control to do any work on the Project related to any
repair, rebuilding, restoration, replacement, modification or addition to the
Project, or any part thereof, unless all requisite municipal and other
governmental permits and authorizations shall have been first procured. All such
work shall be done in a good and workmanlike manner and in compliance with all
applicable building, zoning and other laws, ordinances, governmental regulations
and requirements and in accordance with the requirements, rules and regulations
of all insurers under the policies required to be carried under the provisions
of Article VII hereof.

         SECTION 8.3.  MECHANICS' LIENS.

         (a)      Neither the City nor the Company shall do or suffer anything
                  to be done whereby the Project, or any part thereof, may be
                  encumbered by any mechanics' or other similar lien. Whenever
                  and as often as any mechanics' or other similar lien is filed
                  against the Project, or any part thereof, purporting to be for
                  or on account of any labor done or materials or services
                  furnished in connection with any work in or about the Project,
                  the Company shall discharge the same of record within sixty
                  (60) days after the date the Company receives written notice
                  of filing. Notice is hereby given that the City and the
                  Trustee shall not be liable for any labor or

                                      -19-

<PAGE>

                  materials furnished the Company or anyone claiming by, through
                  or under the Company upon credit, and that no mechanics' or
                  other similar lien for any such labor, services or materials
                  shall attach to or affect the reversionary or other estate of
                  the City in and to the Project or any part thereof.

         (b)      Notwithstanding paragraph (a) above, the Company shall have
                  the right to contest any such mechanics' or other similar lien
                  if within said 60-day period stated above it notifies the City
                  and the Trustee in writing of its intention so to do, and
                  provided the Company diligently prosecutes such contest, at
                  all times effectively stays or prevents any official or
                  judicial sale of the Project, or any part thereof or interest
                  therein, under execution or otherwise, and pays or otherwise
                  satisfies any final judgment enforcing such contested lien
                  claim and thereafter promptly procures record release or
                  satisfaction thereof. The Company shall hold the City and the
                  Trustee whole and harmless from any loss, costs or expenses
                  the City or the Trustee may incur related to any such contest.
                  The City shall cooperate fully with the Company in any such
                  contest.

         SECTION 8.4. ADDITIONAL IMPROVEMENTS ON THE PROJECT SITE. The Company
shall have and is hereby given the right, at its sole cost and expense, to
construct on unimproved portions of the Project Site such additional buildings
and improvements as the Company from time to time may deem necessary or
desirable for its business purposes. All additional buildings and improvements
constructed on the Project Site by the Company pursuant to the authority of this
Section shall, during the Lease Term, remain the property of the Company and may
be added to, altered or razed and removed by the Company at any time. The
Company covenants and agrees (a) to make any repairs and restorations required
to be made to the Project because of the construction of, addition to,
alternation or removal of such additional buildings or improvements, (b) to keep
and maintain such additional buildings and improvements in good condition and
repair, ordinary wear and tear excepted, and (c) to promptly and with due
diligence either raze and remove in a good and workmanlike manner, or repair,
replace or restore any of such additional buildings and improvements as may from
time to time be damaged by fire or other casualty.

         SECTION 8.5. REMOVAL OF PARTS OF PROJECT. The Company shall have the
right, provided the Company is not in default in the payment of Basic Rent or
Additional Payments hereunder, to remove and (on behalf of the City) sell,
exchange or otherwise dispose of, without responsibility or accountability to
the City or the Trustee with respect thereto, any items of Project Equipment and
which have become inadequate, obsolete, worn out, unsuitable, undesirable or
unnecessary or which, in the sound discretion of the Company, are otherwise no
longer useful to the Company in its operations conducted on the Project Site;
provided that with respect to the proposed removal of such Project Equipment
that originally cost $1,000,000 or more, the Company shall either:

                                      -20-

<PAGE>

         (a)      Prior to any such removal, deliver to the Trustee a
                  certificate signed by the Authorized Company Representative
                  (i) containing a complete description of the Project Equipment
                  which it proposes to remove, (ii) stating the reason for such
                  removal, (iii) stating what disposition of the Project is to
                  be made by the Company after such removal and the names of the
                  party or parties to whom such disposition is to be made and
                  the consideration to be received by the Company therefor, if
                  any, and (iv) setting forth the proposed sale price (or
                  trade-in credit to be received) and the fair market value
                  (original cost of such machinery or equipment less
                  depreciation at rates calculated in accordance with generally
                  accepted accounting principles) of such Project Equipment; and
                  pay the greater of (i) the proceeds from the sale of such
                  Project (or trade-in credit received therefor) or (ii) the
                  fair market value of such Project Equipment as set forth in
                  said certificate to the Trustee for deposit in the Bond Fund;
                  and deliver to the City a bill of sale for such Project
                  Equipment to be executed and delivered by the City upon
                  deposit of such sale proceeds in the Bond Fund; or

         (b)      Promptly replace any such Project Equipment so removed with
                  Project Equipment of the same or a different kind but with a
                  value equal to or greater than the fair market value of the
                  Project Equipment so removed, and such Project Equipment shall
                  be deemed a part of the "Project"; and within thirty (30) days
                  after any such replacement, deliver to the Trustee a
                  certificate signed by the Authorized Company Representative
                  (i) setting forth a complete description, including make,
                  model and serial numbers, if any, of the Project Equipment
                  which the Company has acquired to replace the Project
                  Equipment so removed by the Company, (ii) stating the cost
                  thereof, and (iii) stating that the Project Equipment
                  described in said certificate are fully paid for and have been
                  installed as a part of the Project.

         The Trustee shall amend the list of the Project maintained by it
pursuant to Section 10.9 hereof upon receipt of any such certificate. All
machinery and equipment which replaces machinery and equipment so removed by the
Company pursuant to paragraph (b) of this Section shall become and be deemed a
part of the Project.

         In all cases, the Company shall pay all the costs and expenses of any
such removal and shall immediately repair at its expense all damage to the
Project Equipment caused thereby. The Company's rights under this Section to
remove machinery and equipment constituting a part of the Project is intended
only to permit the Company to maintain an efficient operation by the removal of
machinery and equipment which is no longer suitable to the Company's use for any
of the reasons set forth in this Section, and such right is not to be construed
to permit a removal under any other circumstances and specifically is not to be
construed to permit the Company to make a wholesale removal of the Project
Equipment. The Company will not remove (i) all or part of the Project Equipment
except as provided in

                                      -21-

<PAGE>

this Section 8.5 and (ii) cease or substantially reduce the level of its
operations at the Project during the Lease Term.

         It is understood and agreed that the Company intends to purchase
additional Project Equipment and/or other components of the Project to replace
Project Equipment and/or other components of the Project which have become
obsolete, and to pay and retire the applicable principal amount of Bonds
associated with the obsolete Project Equipment and/or other components of the
Project upon its disposal.

                                   ARTICLE IX

                      DAMAGE, DESTRUCTION AND CONDEMNATION

         SECTION 9.1.  DAMAGE AND DESTRUCTION.

         (a)      If during the Lease Term, the a portion of the Project is
                  damaged or destroyed, in whole or in part, by fire or other
                  casualty, to such extent that the claim for loss (including
                  any deductible amount pertaining thereto) resulting from such
                  damage or destruction is greater than $250,000, the Company
                  shall promptly notify the City and the Trustee in writing as
                  to the nature and extent of such damage or loss and whether it
                  is practicable and desirable to rebuild, repair, restore or
                  replace such damage or loss.

         (b)      If the Company shall determine that such rebuilding,
                  repairing, restoring or replacing is practicable and
                  desirable, the Company shall proceed promptly with and
                  complete with reasonable dispatch such rebuilding, repairing,
                  restoring or replacing of the property damaged or destroyed so
                  as to place the Project in substantially the same condition as
                  existed prior to the event causing such damage or destruction,
                  with such changes, alterations and modifications (including
                  the substitution and addition of other property) as may be
                  desired by the Company and as will not impair the operating
                  unity or productive capacity of the Project or the character
                  of the Project. If the Net Proceeds of casualty insurance
                  required by Article VII hereof are not sufficient to pay in
                  full the costs of such replacement, repair, rebuilding or
                  restoration, the Company shall nonetheless complete the same
                  and shall pay the costs thereof in excess of the Net Proceeds.

                                      -22-

<PAGE>

         (c)      If the Company shall determine that rebuilding, repairing,
                  restoring or replacing some portion of the Project is not
                  practicable and desirable, any Net Proceeds of casualty
                  insurance required by Article VII hereof received with respect
                  to such damage or loss shall be paid into the Bond Fund
                  pursuant to Section 602 of the Indenture and shall be used to
                  redeem Bonds on the earliest practicable redemption date or to
                  pay the principal of any Bonds as the same become due. The
                  Company agrees to be reasonable in exercising its judgment
                  pursuant to this subsection (c). If the Company is the
                  Bondowner, the Bondowner may waive the payment of Net Proceeds
                  of casualty insurance into the Bond Fund.

         (d)      The Company shall not, by reason of its inability to use all
                  or any part of the Project during any period in which the
                  Project is damaged or destroyed or is being repaired, rebuilt,
                  restored or replaced, nor by reason of the payment of the
                  costs of such rebuilding, repairing, restoring or replacing,
                  be entitled to any reimbursement from the City, the Trustee or
                  the Bondowners or to any abatement or diminution of the Basic
                  Rent by the Company under this Lease or of any other
                  obligations of the Company under this Lease except as
                  expressly provided in this Section.

SECTION 9.2. CONDEMNATION OR INSURED DEFICIENCY OF TITLE.

         (a)      If during the Lease Term, (i) title to, or the temporary use
                  of, all or any part of the Project shall be condemned by or
                  sold under threat of condemnation to any authority possessing
                  the power of eminent domain, or (ii) title to all or any part
                  of the Project shall be found to be deficient or nonexistent,
                  or such extent that the claim or loss resulting from such
                  condemnation or loss of title is greater than $25,000, the
                  Company shall, within ninety(90) days after the date of entry
                  of a final order in any eminent domain proceedings granting
                  condemnation, or the date of sale under threat of
                  condemnation, proceedings determining such loss of title,
                  notify the City and the Trustee in writing as to the nature
                  and extent of such condemnation or loss of title and whether
                  it is practicable and desirable to acquire or construct
                  substitute improvements.

         (b)      If the Company shall determine that such substitution is
                  practicable and desirable, the Company shall proceed promptly
                  with and complete with reasonable dispatch the acquisition or
                  construction of such substitute improvements, so as to place
                  the Project in substantially the same condition as existed
                  prior to the exercise of the power of eminent domain or loss
                  of title, including the acquisition or construction of other
                  improvements suitable for the Company's operations in
                  connection with the Project and available for use and
                  occupancy by the Company without the payment of any rent other
                  than herein provided, to the same extent as if such other
                  improvements were specifically described herein and demised
                  hereby; provided, that such

                                      -23-

<PAGE>

                  improvements will be acquired by the City subject to no liens,
                  security interests or encumbrances prior to the lien and/or
                  security interest afforded by the Indenture other than
                  Permitted Encumbrances.

(c)               If the Company shall determine that it is not practicable and
                  desirable to acquire or construct substitute improvements, any
                  Net Proceeds of condemnation awards or title insurance
                  received by the Company shall be paid into the Bond Fund
                  pursuant to Section 602 of the Indenture and shall be used to
                  redeem bonds on the earliest practicable redemption date or to
                  pay the principal of any Bonds as the same become due. The
                  Company agrees to be reasonable in exercising its judgment
                  pursuant to this subsection (c).

(d)               The Company shall not, by reason of its inability to use all
                  or any part of the Project during any such period of
                  restoration or acquisition nor by reason of the payment of the
                  costs of such restoration or acquisition, be entitled to any
                  reimbursement from the City, the Trustee or the Bondowners or
                  to any abatement or diminution of the Basic Rent by the
                  Company under this Lease nor of any other obligations
                  hereunder except as expressly provided in this Section.

(e)               The City agrees to cooperate fully with the Company in the
                  handling and conduct of any prospective or pending
                  condemnation proceedings with respect to the Project or any
                  part thereof, and shall, to the extent it may lawfully do so,
                  permit the Company to litigate in any such proceedings in the
                  name and on behalf of the City. In no event will the City
                  voluntarily settle or consent to the settlement of any
                  prospective or pending condemnation proceedings with respect
                  to the Project or any part thereof without the prior written
                  consent of the Company.

                                    ARTICLE X

                                SPECIAL COVENANTS

         SECTION 10.1. NO WARRANTY OF CONDITION OR SUITABILITY BY THE CITY;
EXCULPATION AND INDEMNIFICATION. The City and the Trustee make no warranty,
either express or implied, as to the condition of the Project or that it will be
suitable for the Company's purposes or needs. The Company releases the City and
the Trustee from, agrees that the City shall not be liable for and agrees to
hold the City and the Trustee harmless against, any loss or damage to property
or any injury to or death of any person that may be occasioned by any cause
whatsoever pertaining to accrual of the City's right of re-entry because of the
Company's default hereunder or upon the Project or the use thereof; unless such
loss is the result of the City's gross negligence or willful misconduct.

                                      -24-

<PAGE>

         SECTION 10.2. SURRENDER OF POSSESSION. Upon the cancellation or
termination of this Lease for any reason (after any applicable cure period
provided in this Lease or in the Indenture) other than the Company's purchase of
the Project pursuant to Article XI hereof, the Company shall peacefully
surrender possession of the Project to the City in good condition and repair,
ordinary wear and tear excepted; provided, however, the Company shall have the
right within ninety (90) days or such later date as the City may agree to) after
the termination of this Lease to remove from the Project Site any buildings,
improvements, furniture, trade fixtures, machinery and equipment and
restorations of the Project required to be made because of such removal shall be
made by and at the sole cost and expense of the Company, and during such 90-day
(or extended) period the Company shall bear the sole responsibility for and bear
the sole risk of loss for such buildings, improvements, furniture, trade
fixtures, machinery and equipment. All buildings, improvements, furniture, trade
fixtures, machinery and equipment owned by the Company and which are not so
removed from the Project prior to the expiration of such period shall be the
separate and absolute property of the City.

         SECTION 10.3. CITY'S RIGHT OF ACCESS TO THE PROJECT. The Company agrees
that the City and the Trustee and their duly authorized agents shall have the
right at reasonable times during business hours, subject to the Company's usual
safety and security requirements, to enter upon the Project Site (a) to examine
and inspect the Project without interference or prejudice to the Company's
operations, (b) as may be reasonably necessary to cause to be completed the
acquisition provided for in Section 4.2 hereof, and (c) performing such work in
and about the Project made necessary by reason of the Company's default under
any of the provisions of this Lease.

         SECTION 10.4. SECTION 10.4. PERMITTED ENCUMBRANCES; LEASEHOLD DEEDS OF
TRUST.

         (a)      If no Event of Default under this Lease shall have happened
                  and be continuing, the Company may at any time or times (i)
                  grant easements, licenses, rights-of-way (including the
                  dedication of public highways) and other rights or privileges
                  in the nature of easements that are for the direct use of the
                  Project, or part thereof, by the grantee, (ii) release
                  existing easements, licenses, rights-of-way and other rights
                  or privileges, all with or without consideration and upon such
                  terms and conditions as the Company shall determine, or (iii)
                  incur Permitted Encumbrances. The City agrees that it will
                  execute and deliver and will cause and direct the Trustee to
                  execute and deliver any instrument necessary or appropriate to
                  confirm and grant or release any such easement, license,
                  right-of-way or other right or privilege or any such agreement
                  or other arrangement, upon receipt by the City and the Trustee
                  of: (A) a copy of the instrument of grant or release or of the
                  agreement or other arrangement, (B) a written application
                  signed by an Authorized Company Representative requesting such
                  instrument, and (C) a certificate executed by an Authorized
                  Company Representative stating that

                                      -25-

<PAGE>

                  such grant or release is not detrimental to the proper conduct
                  of the business of the Company, will not impair the effective
                  use or interfere with the efficient and economical operation
                  of the Project, and will not materially adversely affect the
                  security intended to be given by or under the Indenture. If
                  the instrument of grant shall provide that any such easement
                  or right and the rights of such other parties thereunder shall
                  be superior to the rights of City and the Trustee under this
                  Lease and the Indenture and shall not be affected by any
                  termination of this Lease or default on the part of the
                  Company hereunder then such easement shall not have any effect
                  whatsoever without the written consent of the City. If no
                  Event of Default shall have happened and be continuing beyond
                  any applicable grace period, any payments or other
                  consideration received by the Company for any such grant or
                  with respect to or under any such agreement or other
                  arrangement shall be and remain the property of the Company,
                  but, in the event of the termination of this Lease or during
                  the continuation of an Event of Default, all rights then
                  existing of the Company with respect to or under such grant
                  shall inure to the benefit of and be exercisable by the City
                  and the Trustee.

         (b)      The Company may grant a Leasehold Deed of Trust on the
                  leasehold estate created by this Lease, without the City's
                  consent, provided and upon condition that:

                  (i)      a duplicate original or certified copy or photostatic
                           copy of each such Leasehold Deed of Trust, and the
                           note or other obligation secured thereby, is
                           delivered to the City and the Trustee within thirty
                           (30) days after the execution thereof; and

                  (ii)     such Leasehold Deed of Trust shall contain a covenant
                           to the effect that the net proceeds of all insurance
                           policies and the condemnation award shall be held,
                           used and applied for the purposes and in the manner
                           provided for in this Lease.

         (c)      Notwithstanding anything contained to the contrary in this
                  Lease, (i) the Company shall have the right to assign its
                  interest in this Lease and any subleases to any beneficiary of
                  the Leasehold Deed of Trust or to the designee or nominee of
                  such beneficiary of the Leasehold Deed of Trust, without the
                  consent of the City, and (ii) if the beneficiary of the
                  Leasehold Deed of Trust or its designee or nominee shall
                  acquire ownership of the leasehold estate, either following
                  foreclosure of such Leasehold Deed of Trust or in liquidation
                  of the indebtedness and in lieu of foreclosure thereof, the
                  beneficiary of the Leasehold Deed of Trust or its designee or
                  nominee shall have the further right to further assign this
                  Lease and any subleases, with the consent of the City and such
                  assignee shall enjoy all

                                      -26-

<PAGE>

                  rights, powers and privileges granted herein to beneficiaries
                  of leasehold deeds of trust.

         (d)      If (i) the Company shall execute and deliver a Leasehold Deed
                  of Trust, and (ii) the provisions and conditions of subsection
                  (b) above shall have been fully complied with and observed
                  with respect to such Leasehold Deeds of Trust, and (iii) the
                  Company or the beneficiary of such Leasehold Deeds of Trust
                  shall have notified the City and the Trustee in writing of the
                  making thereof and of the name and address of beneficiary of
                  such Leasehold Deed of Trust; then:

                  (i)      this Lease may not be modified, amended, canceled or
                           surrendered by agreement between the City and the
                           Company, without the prior written consent of
                           beneficiary of such Leasehold Deed of Trust;

                  (ii)     there shall be no merger of this Lease or of the
                           leasehold estate created hereby with the fee title to
                           the Project Site, notwithstanding that this Lease or
                           said leasehold estate and said fee title shall be
                           owned by the same person or persons, without the
                           prior written consent of beneficiary of such
                           Leasehold Deed of Trust;

                  (iii)    the City shall serve upon each beneficiary of the
                           Leasehold Deed of Trust a copy of each notice of
                           default and each notice of termination given to the
                           Company under this Lease, at the same time as such
                           notice is served upon the Company. No such notice to
                           the Company shall be effective unless a copy thereof
                           is thus served upon each beneficiary of the Leasehold
                           Deed of Trust;

                  (iv)     each beneficiary of the Leasehold Deed of Trust shall
                           have the same period of time after the service of
                           such notice upon it within which the Company may
                           remedy or cause to be remedied the default which is
                           the basis of the notice plus ninety (90) days; and
                           the City shall accept performance by such beneficiary
                           of the Leasehold Deed of Trust as timely performance
                           by the Company;

                  (v)      such beneficiary of the Leasehold Deed of Trust shall
                           not be required to continue possession or continue
                           foreclosure proceedings under paragraph (vii) of this
                           subsection if the particular default has been cured;

                  (vi)     the City may exercise any of its rights or remedies
                           with respect to any other default by the Company
                           occurring during the period of such forbearance
                           provided for under paragraph (viii), subject to the

                                      -27-

<PAGE>

                           rights of the beneficiary of the Leasehold Deed of
                           Trust under this Section as to such other defaults;

                  (vii)    in case of default by the Company under this Lease,
                           other than a default in the payment of money, the
                           City shall take no action to effect a termination of
                           this Lease by service of a notice or otherwise,
                           without first giving to such beneficiary of the
                           Leasehold Deed of Trust a reasonable time within
                           which either to obtain possession of the Project and
                           to remedy such default in the case of a default which
                           is susceptible of being cured when such beneficiary
                           of the Leasehold Deed of Trust has obtained
                           possession of the Project, or to institute and with
                           reasonable diligence to complete foreclosure
                           proceedings or otherwise acquire the Company's
                           leasehold estate under this Lease in the case of a
                           default which is not so susceptible of being remedied
                           by such beneficiary of the Leasehold Deed of Trust,
                           provided that the Leasehold Deed of Trust shall
                           deliver to the City within thirty (30) days after the
                           expiration of the grace period applicable to the
                           particular default, an instrument unconditionally
                           agreeing to remedy such default other than a default
                           not susceptible of being remedied by the beneficiary
                           of such Leasehold Deed of Trust. The City's right to
                           terminate this Lease by reason of a default which is
                           not susceptible of being remedied by such beneficiary
                           of the Leasehold Deed of Trust shall end with respect
                           to such default when the beneficiary of the Leasehold
                           Deed of Trust obtains possession of the Project as
                           aforesaid, which possession shall be deemed to
                           include possession by a receiver;

                  (viii)   if this Lease shall terminate prior to the expiration
                           of the Lease Term, the City shall enter into a new
                           lease for the Project (which shall be deemed to have
                           continued or been reinstated as if this Lease had
                           never been terminated), with any such beneficiary of
                           the Leasehold Deed of Trust or its designee or
                           nominee, for the remainder of the term, effective as
                           of the date of such termination, at the same rent and
                           upon the same terms, covenants and conditions
                           contained herein, except that such new lease shall
                           not guarantee possession of the Project to the new
                           tenant as against the Company and/or anyone claiming
                           under the Company, and the City, simultaneously with
                           the execution and delivery of such new lease, shall
                           turn over to the new tenant all monies, if any, then
                           held by the City under this Lease on behalf of the
                           Company, on condition that:

                                      -28-

<PAGE>

                           (A)      such beneficiary of the Leasehold Deed of
                                    Trust shall make written request for such
                                    new lease within thirty (30) days after the
                                    date of such termination, and

                           (B)      on the commencement date of the term of the
                                    new lease, such beneficiary of the Leasehold
                                    Deed of Trust shall cure all defaults of the
                                    Company under this Lease (susceptible of
                                    being cured by such beneficiary of the
                                    Leasehold Deed of Trust) which remain
                                    uncured on that date, and shall pay or cause
                                    to be paid all unpaid sums which at such
                                    time would have been payable under this
                                    Lease but for such termination, and shall
                                    pay or cause to be paid to the City on that
                                    date all expenses, including reasonable
                                    counsel fees, court costs and disbursements,
                                    incurred by the City in connection with any
                                    such default and termination as well as in
                                    connection with the execution and delivery
                                    of such new lease;

                  (ix)     if such beneficiary of the Leasehold Deed of Trust or
                           its designee or nominee shall become the owner of
                           this Lease either following foreclosure of such
                           Leasehold Deed of Trust or in liquidation of the
                           indebtedness and in lieu of foreclosure thereof and
                           such Leasehold Deed of Trust or its designee or
                           nominee shall have assigned this Lease, such
                           beneficiary of the Leasehold Deed of Trust or its
                           designee or nominee so assigning shall be released
                           from all liability accruing from and after the date
                           of such assignment.

         If more than one beneficiary of the Leasehold Deed of Trust shall
request such new lease, such new lease shall be made with and delivered to the
beneficiary of the Leasehold Deed of Trust (or its nominee or designee) whose
deed of trust is prior in lien to those of any others. The opinion of a
reputable title insurance company, licensed to insure title to real property in
the State of Missouri, setting forth the order of priority of such mortgage
liens, may be relied on by the City as conclusive evidence of such priority.

         SECTION 10.5. FINANCING DOCUMENTS. The Company, from time to time, may
request the City to (i) pledge, assign or otherwise hypothecate all or a portion
of its interest in and to the Project in connection with any financings which
the Company may undertake with respect to the Project ("Project Financing"),
and/or (ii) acknowledge any Project Financing and the rights and remedies of any
Project Equipment Lender, as hereinafter in this Section defined, thereunder.
Subject to the terms and conditions of this Section 10.5, the City promptly
shall execute and deliver, at the Company's request, all UCC financing
statements, security documents, acknowledgements, assignments and other
Financing Documents securing, evidencing or otherwise pertaining to the Project

                                      -29-

<PAGE>

Financing; provided, however, that the City and the Trustee shall not be liable
for any of the indebtedness evidencing the Project Financing or for any other
obligations of the Company, as borrower, under the Financing Documents in the
Company's own name or as the authorized agent for the City even if such agency
is not specified. No separate signature or authorization from the City shall be
required for the execution and delivery of any such Financing Documents. All
third parties entering into any Financing Documents or other documents executed
in connection therewith or receiving delivery of or the benefit from any
Financing Documents or other such documents ("PROJECT EQUIPMENT LENDER") shall
be entitled to rely upon the same as having been executed by the Company as the
agent for the City, unless the Project Equipment Lender has actual notice that
the agency granted herein has been terminated because of an uncured Event of
Default hereunder. The City hereby names, appoints and constitutes the Company
as its irrevocable attorney-in-fact, coupled with and interest, to execute and
deliver on behalf of the City each and every of the Financing Documents, subject
to the limitation of liability set forth above.

         In the event that the Company consummates a Project Financing with
respect to the Project and collateralizes all or a portion of the Project under
the Financing Documents, then the following provisions shall be applicable in
addition to, but not exclusive of, the Financing Documents or any additional
documents to which the City becomes a party with respect to the Project
Financing:

         (a)      This Lease may not be modified, amended, cancelled or
                  surrendered by agreement between the City and the Company,
                  without the prior written consent of the Project Equipment
                  Lender of which the City and the Trustee have received written
                  notice;

         (b)      There shall be no merger of title between the leasehold estate
                  created under this Lease and the ownership interest held by
                  the City in and to the Project notwithstanding that this Lease
                  or said leasehold estate and ownership interest shall be owned
                  by one and the same person or persons, without the prior
                  written consent of the lender providing financing for the
                  Project (the "Project Lender");

         (c)      Provided that the mailing address of the Project Lender is
                  provided to the City and the Trustee in writing, the City
                  shall send each Project Lender a copy of each notice of
                  default and each notice of termination given to the Company
                  under this Lease at the same time as such notice is sent to
                  the Company. No such notice to the Company shall be effective
                  unless a copy thereof is served upon each Project Lender;

         (d)      Each Project Lender shall have the same time period which the
                  Company has after service of any required notice upon it,
                  within which to remedy or cause to be remedied, any payment
                  default under this Lease plus thirty

                                      -30-

<PAGE>

                  (30) days, and the City shall accept performance by the
                  Project Lender as timely performance by the Company.

         (e)      Such Project Lender shall not be required to continue
                  possession or continue foreclosure proceedings hereunder if
                  the particular default has been cured.

         (f)      The City may exercise any of its rights or remedies with
                  respect to any other default by the Company, subject to the
                  rights of Project Lender;

         (g)      In the case of default by the Company under this Lease, other
                  than a default in the payment of money, the City shall take no
                  action to effect termination of this Lease by service of a
                  notice or otherwise, without first giving notice to the
                  Project Lender and a reasonable time within which either to
                  obtain possession of the Project and to remedy such default or
                  to institute and to prosecute diligently foreclosure
                  proceedings or otherwise acquire the Company's leasehold
                  estate under this Lease, provided, however, that the City's
                  right to terminate this Lease by reason of a default which is
                  not susceptible to being remedied by the Project Lender shall
                  be null and void and not effective against the Project Lender,
                  its designee, or a purchaser in foreclosure that acquires
                  title to all or a portion of the Project;

         (h)      If this Lease shall terminate prior to the expiration of the
                  Lease Term, the City may in its sole and absolute discretion
                  enter into a new lease for the Project with the Project Lender
                  or its designee, for the remainder of the Lease Term effective
                  as of the date of termination, upon the same terms and
                  conditions as contained in this Lease, except that such new
                  lease shall not guarantee possession of the Project to the new
                  tenant as against the Company or anyone claiming by or through
                  the Company, and the City, simultaneous with the execution and
                  delivery of such new lease, shall turn over to the new tenant
                  all monies, if any, then held by the City under the Lease on
                  behalf of the Company, on condition that:

                  (i)      The Project Lender shall make written notice of its
                           election to enter into such new lease within thirty
                           (30) days after such termination; and

                  (ii)     On the commencement date of the term of the new
                           lease, the new tenant shall cure all defaults of the
                           Company under the Lease susceptible being cured by
                           the payment of money by the Project Lender and shall
                           pay or cause to be paid to the City and the Trustee
                           on that date all reasonable fees, costs, charges and
                           expenses, including reasonable counsel fees and
                           expenses, court costs and

                                      -31-

<PAGE>

                           disbursements, incurred by the City and the Trustee
                           in connection with any such default and termination
                           as well as in connection with the execution and
                           delivery of such new lease;

         (i)      If the Project Lender, its designee or purchaser in
                  foreclosure shall become the new tenant either following
                  foreclosure or in liquidation of the indebtedness, or in lieu
                  of the foreclosure, and thereafter the Project Lender, its
                  nominee or purchaser in foreclosure shall assign its interest
                  in this Lease or any new lease, the same shall be released
                  from all liability occurring from and after the date of such
                  assignment with the express written consent of the City.

         In the event that the City or the Trustee engages counsel to review any
Financing Documents in connection with any request for the City to execute any
of the Financing Documents or otherwise collateralize the Project, then the
Company shall reimburse the City or the Trustee for its reasonable counsel fees
and expenses incurred in connection with such review.

         SECTION 10.6. INDEMNIFICATION OF CITY AND TRUSTEE. The Company shall
indemnify and save the City and the Trustee harmless from and against all
claims, demands, liabilities and losses by or on behalf of any person, firm or
corporation arising from the conduct or management of, or from any work or thing
done in, on or about, the Project during the Lease Term, and against and from
all claims arising during the Lease Term from (a) any condition of the Project
caused by the Company, (b) any breach or default on the part of the Company in
the performance of any of its obligations under this Lease, (c) any contract
entered into in connection with the improvement and installation of the Project,
(d) any act of negligence of the Company or of any of its agents, contractors,
servants, employees or licensees, (e) any act of negligence of any assignee or
sublessee of the Company, or of any agents, contractors, servants, employees or
licensees of any assignee or sublessee of the Company, and (f) ownership of the
Project by the City. The Company shall indemnify and save the City and the
Trustee harmless from and against all fees, penalties, costs, claims, demands,
liabilities, losses and expenses including but not limited to, those items
referenced in Sections 6.2(b) and 8.3(b) of this Lease (except those which have
arisen from the willful misconduct or gross negligence of the City or the
Trustee) incurred in or in connection with any action or proceeding brought
thereon, to this Lease, the Indenture and the Bonds, and upon notice from the
City or the Trustee, the Company agrees to defend them or any of them in any
such action or proceeding (except those which have arisen from the willful
misconduct or gross negligence of the City or the Trustee). The Trustee shall
notify the Company in writing within 14 days after receipt of any claim
described in this Section. Provided that neither the City or the Trustee shall
suffer any loss, cost or liability, the Company shall have complete control of
any payment in settlement or compromise of a claim or satisfaction of a judgment
resulting from a claim described in this Section. This Section 10.6 shall
survive the expiration or other termination of this Lease.

                                      -32-

<PAGE>

         SECTION 10.7. DEPRECIATION, INVESTMENT TAX CREDIT AND OTHER TAX
BENEFITS. The City agrees that any depreciation, investment tax credit or any
other tax benefits with respect to the Project or any part thereof shall be made
available to the Company, and the City will fully cooperate with the Company in
any effort by the Company to avail itself of any such depreciation, investment
tax credit or other tax benefits.

         SECTION 10.8. COMPANY TO MAINTAIN ITS CORPORATE EXISTENCE. The Company
agrees that until the Bonds are paid or payment is provided for in accordance
with the terms of the Indenture, it will maintain its existence, and will not
dissolve or otherwise dispose of all or substantially all of its assets;
provided, however, that the Company may, without violating the agreement
contained in this Section, consolidate with or merge into another domestic
entity (i.e., an entity formed and existing under the laws of one of the states
of the United States) or permit one or more other domestic entities to
consolidate with or merge into it, or may sell or otherwise transfer to another
domestic entity all or substantially all of its assets as an entirety and
thereafter dissolve, provided, the surviving, resulting or transferee entity
expressly assumes in writing all the obligations of the Company contained in
this Lease; and, further provided, that the surviving, resulting or transferee
entity, as the case may be, has a consolidated net worth (after giving effect to
said consolidation, merger or transfer) at least equal to or greater than that
of the Company immediately prior to said consolidation, merger or transfer and
there shall be delivered to the City and the Trustee a certificate of an
independent certified public accountant to such effect or the surviving or
transferee entity is otherwise reasonably acceptable to the City, such
acceptability being evidenced to the Trustee by a certificate of the City for
such effect. The term "net worth", as used in this Section, shall mean the
difference obtained by subtracting total liabilities (not including as a
liability any capital or surplus item) from total assets of the Company and all
of its subsidiaries. Merger or consolidation with an affiliate of the Company
shall not require compliance with this Section 10.8. In any such consolidation,
merger or transfer the Company shall comply with the provisions of Section 13.1
hereof to the extent applicable.

         SECTION 10.9. SECURITY INTERESTS. The City and the Company agree to
enter into all instruments (including financing statements and statements of
continuation) necessary for perfection of and continuance of the perfection of
the security interests of the City and the Trustee in the Project. The City
shall cause to be filed all such instruments which the Owner of the Bonds shall
deem necessary to be filed and the Trustee shall continue or cause to be
continued the liens of such instruments for so long as the Bonds shall be
Outstanding. The City and the Company shall cooperate with the Trustee in this
regard by executing such continuation statements and providing such information
as the Trustee may require to renew such liens. Additionally, the Trustee shall
maintain a file showing the description of all machinery and equipment
constituting a part of the Project, said file to be compiled from the
certificates furnished to the Trustee pursuant to Section 4.4, Section 4.7 and
Section 8.5 hereof and upon which certification the Trustee may conclusively
rely.

                                      -33-

<PAGE>

         If, at any time during the term of this Lease, the Company changes its
state of formation, changes its form of organization, changes its name, or takes
any other action which could affect the proper location for filing of Uniform
Commercial Code financing statements or continuation statements or which could
render existing filings seriously misleading or invalid, the Company shall
immediately provide written notice of such change to the City and the Trustee,
and thereafter promptly deliver to the City or the Trustee such additional
information or documentation regarding such change as the City or the Trustee
may reasonably request for the purpose of amendment and/or refilling, at the
expense of the Company, as may be reasonably determined to be necessary by City
or the Trustee, and their respective attorneys.

         SECTION 10.10. ENVIRONMENTAL MATTERS. The Company covenants, represents
and warrants to the City and the Trustee, and their respective successors and
assigns, that the Project Site and its existing uses have at all times during
the period the Company and/or the City has owned the Project Site complied with,
and the Project shall comply with, and the Company is not in violation and shall
not violate, in connection with the ownership, use, maintenance or operation of
the Project and the conduct of the business related thereto, any applicable
"Environmental Law", as hereinafter defined, relating to "Hazardous Materials",
as hereinafter defined. The term "Environmental Laws" shall mean all Federal,
State and local environmental, land use, zoning, health, chemical use, safety
and sanitation laws, statutes, ordinances and codes relating to the protection
of the environment or governing the use, storage, treatment, generation,
transportation, processing, handling, production or disposal of Hazardous
Materials and the rules, regulations, policies, guidelines, interpretations,
decisions, orders and directives of federal, state and local governmental
agencies and authorities with respect thereto, including without limitation, the
Comprehensive Environmental Response, Compensation and Liability Act of 1980, as
amended, the Hazardous Materials Transportation Act, as amended, the Resource
Conservation and Recovery Act, as amended, the Toxic Substances Control Act, as
amended, the Clean Air Act, the Federal Water Pollution Control Act of 1972, and
the Superfund Amendments and Reauthorization Act of 1986. The term "Hazardous
Materials" shall mean any flammable explosives, radon, radioactive materials,
asbestos, urea formaldehyde foam insulation, polychlorinated biphenyls,
petroleum, petroleum-based products, methane, hazardous materials, hazardous
wastes, hazardous or toxic substances or related materials as set forth in any
Environmental Law or other materials which may or could pose a hazard to the
health and safety of the occupants of the Project or the occupants and/or owners
of property near the Project. Without limiting the generality of the foregoing:

                                      -34-

<PAGE>

         (a)      The Company, its agents, employees and independent
                  contractors, (i) have and shall operate the Project and have
                  and at all times will receive, handle, use, store, treat,
                  transport and dispose of all Hazardous Materials in strict
                  compliance with all applicable Environmental Laws and other
                  health or safety statutes, ordinances, orders, rules,
                  standards, regulations or requirements, and (ii) have removed
                  from the Project any Hazardous Materials that do not comply
                  with the foregoing;

         (b)      There are no existing or pending statutes, orders, standards,
                  rules or regulations relating to environmental matters
                  requiring any remedial actions or other work, repairs,
                  construction or capital expenditures with respect to the
                  Project, nor has the Company received any notice of any of the
                  same;

         (c)      No Hazardous Materials have, to the knowledge of the Company,
                  been or will be released into the environment, or have been
                  spilled, discharged, or disposed of at or on the Project Site
                  except as previously disclosed in writing to City by or on
                  behalf of Company, nor has the Project Site been, or will it
                  be, used at any time by any person as a landfill or a disposal
                  site for Hazardous Materials or for garbage, waste or refuse
                  of any kind;

         (d)      There are no electrical transformers, except as disclosed in
                  the environmental report provided to the City and the Trustee,
                  or other equipment containing dielectric fluid containing
                  polychlorinated biphenyls located in the Project, on or under
                  the Project Site, nor is there any friable asbestos contained
                  in the Project, nor will the Company permit the installation
                  of same;

         (e)      There are no underground storage tanks under the Project Site
                  nor, to the knowledge of the Company, have any been removed
                  from the Project Site;

         (f)      No notices of any violation of any of the matters referred to
                  in the foregoing sections relating to the Project Site or the
                  Project or their use have been received by the Company, and
                  there are no writs, injunctions, decrees, orders or judgments
                  outstanding, and to the knowledge of the Company no lawsuits,
                  claims, proceedings or investigations pending or threatened,
                  relating to the ownership, use, maintenance or operation of
                  the Project, nor is there any basis for any such lawsuit,
                  claim, proceeding or investigation being instituted or filed;
                  and

         (g)      The Project Site is not listed in the United States
                  Environmental Protection Agency's National Priorities List of
                  Hazardous Waste Sites nor any other log, list, schedule,
                  inventory or record of Hazardous Materials or Hazardous Waste
                  sites whether maintained by the United States, or any state or
                  local governmental unit.

                                      -35-

<PAGE>

         The Company agrees to indemnify and reimburse the City and the Trustee,
and their respective successors and assigns, for any breach of these
representations and warranties and from any loss, damage, expense or cost
arising out of or incurred by the City or the Trustee which is the result of a
breach of, misstatement of or misrepresentation of the above covenants,
representations and warranties, or for any loss, damage, expense or cost
sustained as a result of there being located on the Project any Hazardous
Materials or dangerous, toxic or hazardous pollutants, chemicals, wastes or
substances, together with all attorneys' fees incurred in connection with the
defense of any action against the City, the Trustee or the Company arising out
of the above. These covenants, representations, warranties and indemnities shall
be deemed continuing covenants, representations, warranties and indemnities
running with the land for the benefit of the City and the Trustee, and their
respective successors and assigns, including any purchaser at a foreclosure
sale, any transferee of the title of the City or the Trustee or any subsequent
purchaser thereof at a foreclosure sale, and any subsequent owner of the Project
claiming through or under the title of the City or the Trustee and shall survive
any acquisition of title of the City or the Trustee. The amount of all such
indemnified loss, damage, expense or cost, shall bear interest thereon at the
Prime or Base Rate of the Trustee plus two percent (2%), and shall become
immediately due and payable in full on demand of the City or the Trustee and
their respective successors and assigns. The Company shall be notified in
writing of any event requiring indemnification hereunder and the Company shall
have the right to defend the City or the Trustee with counsel approved by the
City or the Trustee, as the case may be.

         SECTION 10.11. OBLIGATIONS UNDER INDENTURE. The Company will perform
the obligations assigned to it in the Indenture.

         SECTION 10.12.  EQUAL OPPORTUNITY IN EMPLOYMENT.

         (a) General. The Company will refrain from any unlawful employment
practice as presently defined in the Code of Ordinances of the City. The Company
will post at its office of employment notices of the provisions of Section
38-132 of the Code of Ordinances of the City. The Company will implement the
Certificate of Compliance or Affirmative Action Program submitted to the City.
The Company is bound by the terms of Sections 38-81 through 38-82 and Rules and
Regulations promulgated for the administration of these sections.

         (b)      Access to Information. Upon request, the Company will permit
                  the Director of Human Relations of the City, or his designee,
                  to preview documents as necessary to ascertain compliance at
                  the Project Site with the Affirmative Action Program required
                  in connection with this Lease.

         (c)      Failure to Comply. If the Company shall fail or refuse to
                  comply with the terms of this Article, the Company will be
                  subject to the enforcement provisions of Section 38-83 of the
                  Code of Ordinances of Kansas City, Missouri and the Rules and
                  Regulations promulgated thereunder.

                                      -36-

<PAGE>

         (d)      Transmittals. HRD Form 1016-026 will be fully executed and
                  submitted prior to issuance of the Bonds.

         SECTION 10.13. SALES TAX OBLIGATION. Notwithstanding any provision to
the contrary contained in this Lease, if any taxing authority shall deny the
City's exemption from the payment of sales tax on any Project, the Company may,
at its costs, contest such denial and if it is ultimately determined that the
contested sales tax is due on the Project then the Company shall pay all
applicable sales tax on such Project.

                                   ARTICLE XI

                  OPTION AND OBLIGATION TO PURCHASE THE PROJECT

         SECTION 11.1. OPTION TO PURCHASE THE PROJECT. The Company or its
successors under this Lease shall have, and is hereby granted, the option to
purchase all or a portion of the Project at any time, prior to the expiration of
the Lease Term upon payment in full of all or a portion of the Bonds then
outstanding or provision for their payment having been made pursuant to Article
XIII of the Indenture. To exercise such option the Company shall give written
notice to the City and to the Trustee, if any of the Bonds shall then be unpaid
or provision for their payment shall not have been made in accordance with the
provisions of the Indenture, and shall specify therein the date of closing such
purchase, which date shall be not less than thirty (30) nor more than 180 days
from the date such notice is mailed, and in case of a redemption of the Bonds in
accordance with the provisions of the Indenture the Company shall make
arrangements satisfactory to the Trustee for the giving of the required notice
of redemption. The purchase price payable by the Company in the event of its
exercise of the option granted in this Section shall be the sum of the
following:

         (a)      an amount of money which, when added to the amount then on
                  deposit in the Bond Fund (or the amount deemed then on deposit
                  in the Bond Fund if the Company is the sole Bondowner), will
                  be sufficient to redeem all the then outstanding Bonds on the
                  earliest redemption date as defined in Article III of the
                  Indenture next succeeding the closing date of the purchase,
                  including, without limitation, principal and interest to
                  accrue to said redemption date and redemption expense; plus

         (b)      an amount of money equal to the Additional Rent due for the
                  remaining Lease Term; plus

         (c)      an amount of money equal to the Trustee's and the Paying
                  Agent's agreed to and reasonable fees and expenses under the
                  Indenture accrued and to accrue until such redemption of the
                  Bond; plus

                                      -37-

<PAGE>

         (d)      the sum of $100.00 for the purchase of all the Project.

         At its option, to be exercised at least five (5) days prior to the date
of closing such purchase, the Company may deliver to the Trustee for
cancellation Bonds not previously paid, and the Company shall receive a credit
against the purchase price payable by the Company in an amount equal to 100% of
the principal amount of the Bonds so delivered for cancellation.

         SECTION 11.2. CONVEYANCE OF THE PROJECT. At the closing of the purchase
of the Project pursuant to this Article, the City will upon receipt of the
purchase price deliver to the Company the following:

         (a)      If the Indenture shall not at the time have been satisfied in
                  full, a release from the Trustee of the Project from the lien
                  and/or security interest of the Indenture, in such form as
                  reasonably requested by the Company.

         (b)      Documents, in such form as reasonably requested by the
                  Company, conveying to the Company or its successors under this
                  Lease legal title to the Project, as it then exists, subject
                  to the following: (i) those liens and encumbrances, if any, to
                  which title to the Project was subject when conveyed to the
                  City; (ii) those liens and encumbrances created by the Company
                  or to the creation or suffering of which the Company
                  consented; (iii) those liens and encumbrances resulting from
                  the failure of the Company to perform or observe any of the
                  agreement on its part contained in this Lease; (iv) Permitted
                  Encumbrances other than the Indenture and this Lease; and (v)
                  if the Project or any part thereof is being condemned, the
                  rights and title of any condemning authority.

         SECTION 11.3. RELATIVE POSITION OF OPTION AND INDENTURE. The options
and obligation to purchase the Project granted to the Company in this Article
shall be and remain prior and superior to the Indenture and may be exercised
whether or not the Company is in default under this Lease, provided that such
default will not result in nonfulfillment of any condition to the exercise of
any such option.

         SECTION 11.4. OBLIGATION TO PURCHASE THE PROJECT. The Company or its
successors under this Lease hereby agrees to purchase, and the City hereby
agrees to sell, all of the Project for the sum of $100.00 at the expiration or
termination of the Lease Term following full payment of the Bonds or provision
for payment thereof having been made in accordance with the provisions of the
Indenture. As a result, the City shall not sell, transfer or convey an interest
in the Project except as provided in this Article XI.

                                      -38-

<PAGE>

                                   ARTICLE XII

                              DEFAULTS AND REMEDIES

         SECTION 12.1. EVENTS OF DEFAULT. If any one or more of the following
events shall occur and be continuing, it is hereby defined as and declared to be
and to constitute an "Event of Default" or "default" under this Lease:

         (a)      Default in the due and punctual payment of Basic Rent on the
                  date due or failure to pay Additional Rent within ten (10)
                  days after the Trustee has given the Company written notice of
                  a default in the payment of Additional Rent; or

         (b)      Default in the due observance or performance of any other
                  covenant, agreement, obligation or provision of this Lease on
                  the Company's part to be observed or performed, which default
                  shall continue for thirty (30) days after the City or the
                  Trustee has given the Company's written notice specifying such
                  default (or such longer period as shall be reasonably required
                  to cure such default; provided that (i) the Company has
                  commenced such cure within said 30-day period, and (ii) the
                  Company diligently prosecutes such cure to completion);

         (c)      The Company shall: (i) admit in writing its inability to pay
                  its debts as they become due; or (ii) file a petition in
                  bankruptcy or for reorganization, arrangement, composition,
                  readjustment, liquidation, dissolution or similar relief under
                  the Bankruptcy Code as now or in the future amended or any
                  other similar present or future federal or state statute or
                  regulation, or file a pleading asking for such relief; or
                  (iii) make an assignment for the benefit of creditors; or (iv)
                  consent to the appointment of a trustee, receiver or
                  liquidator for all or a major portion of its property or shall
                  fail to have the appointment of any trustee, receiver or
                  liquidator made without the Company's consent or acquiescence,
                  vacated or set aside; or (v) be finally adjudicated as
                  bankrupt or insolvent under any federal or state law; or (vi)
                  be subject to any proceeding, or suffer the entry of a final
                  and nonappealable court order, under any federal or state law
                  appointing a trustee, receiver or liquidator for all or a
                  major part of its property or ordering the winding-up or
                  liquidation of its affairs, or approving a petition filed
                  against it under the Bankruptcy Code, as now or in the future
                  amended, which order or proceeding, if not consented to by it,
                  shall not be dismissed, vacated, denied, set aside or stayed
                  within sixty (60) days after the day of entry or commencement;
                  or (vii) suffer a writ or warrant of attachment or any similar
                  process to be issued by any court against all or any
                  substantial portion of its property, and such writ or warrant
                  of attachment or any similar process is not contested, stayed,
                  or is not released within sixty (60) days after the final

                                      -39-
<PAGE>

                  entry, or levy or after any contest is finally adjudicated or
                  any stay is vacated or set aside; or

         (d)      The Company shall vacate or abandon the Project, or shall have
                  been ejected from the Project or any portion thereof by reason
                  of a defect in title to the Project, and the same shall remain
                  uncared for and unoccupied for a period of sixty (60) days.

         SECTION 12.2. REMEDIES ON DEFAULT. If any Event of Default referred to
in Section 12.1 hereof shall have occurred and be continuing beyond the
applicable cure period, then the City may at the City's election (subject,
however, to any restrictions against acceleration of the maturity of the Bonds
or termination of this Lease in the Indenture), then or at any time thereafter,
and while such Event of Default shall continue, take any one or more of the
following actions:

         (a)      cause all amounts payable with respect to the Basic Rent and
                  Additional Rent for the remainder of the term of the Lease to
                  become due and payable, as provided in the Indenture thirty
                  (30) days after written notice of its intention to do so; or

         (b)      give the Company written notice of intention to terminate this
                  Lease on a date specified therein, which date shall not be
                  earlier than thirty (30) days after such notice is given, and
                  if all defaults have not then been cured, on the date so
                  specified, the Company's rights to possession of the Project
                  shall cease and this Lease shall thereupon be terminated, and
                  the City may re-enter and take possession of the Project; or

         (c)      having terminated the Lease pursuant to Section 12.2(b)
                  hereof, direct the Trustee to sell the Project; all proceeds
                  from any such sale shall be applied in accordance with Section
                  908 of the Indenture; or

         (d)      without terminating this Lease, take possession of the Project
                  pursuant to legal proceedings or pursuant to any notice
                  provided for by law, and having elected to take possession of
                  the Project without terminating this Lease, the City shall use
                  reasonable diligence to relet the Project, or parts thereof,
                  for such term or terms and at such rental and upon such other
                  terms and conditions as the City may deem advisable, with the
                  right to make alterations and repairs to the Project, and no
                  such taking of possession of the Project by the City shall be
                  construed as an election on the City's part to terminate this
                  Lease, and no such taking of possession by the City shall
                  relieve the Company of its obligation to pay Basic Rent or
                  Additional Rent (at the time or times provided herein), or of
                  any of its other obligations under this Lease, all of which
                  shall survive such taking of possession, and the Company shall
                  continue to pay the Basic Rent and Additional Rent provided
                  for in this

                                      -40-

<PAGE>

                  Lease until the end of the Lease Term, whether or not the
                  Project shall have been relet, less the net proceeds, if any,
                  of any reletting of the Project after deducting all of the
                  City's reasonable expenses in or in connection with such
                  reletting, including without limitation all repossession
                  costs, brokerage commissions, legal expenses, expenses of
                  employees, alteration costs and expenses of preparation for
                  reletting. Said net proceeds of any reletting shall be
                  deposited in the Bond Fund.

Having elected to take possession of the Project without terminating this Lease
under (d) above, the City may (subject, however, to any restrictions against
termination of this Lease in the Indenture), by notice to the Company given at
any time thereafter while the Company is in default in the payment of Basic Rent
or Additional Rent or in the performance of any other obligation under this
Lease, elect to terminate this Lease on a date to be specified in such notice,
which date shall be not earlier than thirty (30) days after taking possession
under (d) above, and if all defaults shall not have then been cured, on the date
so specified this Lease shall thereupon be terminated. If in accordance with any
of the foregoing provisions of this Article the City shall have the right to
elect to take possession of the Project, the City may, subject to the provisions
of Section 11.4 hereof, in accordance with local law, enter the Project and
remove any portion of the Project without being guilty of any manner of trespass
and without prejudice to any remedies for arrears of rent or preceding breach of
covenant. The City may take whatever action at law or in equity including
causing the appointment of a receiver or receivers for the Company and/or its
assets which may appear necessary or desirable to collect rent then due and
thereafter to become due, or to enforce performance and observance of any
obligation, agreement or covenant of the Company under this Lease.

         In the enforcement of any remedy provided in this Section, the Trustee
may treat all expenses of enforcement, including reasonable legal, accounting
and advertising fees and expenses, as Additional Rent then due and payable by
the Company.

         Any amount collected pursuant to action taken under this Section shall
be paid to the Trustee and applied, first, to the payment of any costs, expenses
and fees incurred by the City or the Trustee as a result of taking such action
and, next, any balance shall be used to satisfy any payment then due by payment
into the Bond Fund and applied in accordance with the Indenture and, then, to
satisfy any other Additional Rent then due or to cure any other Event of
Default.

         SECTION 12.3. SURVIVAL OF OBLIGATIONS. The Company covenants and agrees
with the City and Bondowners that its obligations under this Lease shall survive
the cancellation and termination of this Lease, for any cause, and that the
Company shall continue to pay the Basic Rent and Additional Rent and perform all
other obligations provided for in this Lease, all at the time or times provided
in this Lease; provided, however, that upon the payment of all Basic Rent and
Additional Rent required under Article V hereof, and upon the satisfaction and
discharge of the Indenture under

                                      -41-

<PAGE>

Section 1301 thereof, the Company's obligation under this Lease shall thereupon
cease and terminate in full, except that obligations with respect to Section
11.4 hereof, compensation and indemnification of the City and the Trustee
required hereunder or in the Indenture shall not so terminate until fully
discharged.

         SECTION 12.4. PERFORMANCE OF THE COMPANY'S OBLIGATIONS BY THE CITY. If
the Company shall fail to keep or perform any of its obligations as provided in
this Lease in the making of any payment or performance of any obligation, then
the City, or the Trustee in the City's name, may (but shall not be obligated so
to do) upon the continuance of such failure on the Company's part for thirty
(30) days after written notice of such failure is given the Company by the City
or the Trustee, and without waiving or releasing the Company from any obligation
hereunder, as an additional but not exclusive remedy, make any such payment or
perform any such obligation, and all reasonable sums so paid by the City or the
Trustee and all necessary incidental reasonable fees, costs and expenses
incurred by the City or the Trustee in performing such obligations shall be
deemed Additional Rent and shall be paid to the City or the Trustee on demand,
with interest thereon at the prime rate of the Trustee plus two percent (2%) per
annum, and if not so paid by the Company, the City or the Trustee shall have the
same rights and remedies provided for in Section 12.2 hereof in the case of
default by the Company in the payment of Basic Rent.

         SECTION 12.5. RIGHTS AND REMEDIES CUMULATIVE. The rights and remedies
reserved by the City and the Company hereunder and those provided by law shall
be construed as cumulative and continuing rights. No one of them shall be
exhausted by the exercise thereof on one or more occasions. The City and the
Company shall each be entitled to specific performance and injunctive or other
equitable relief for any breach or threatened breach of any of the provisions of
this Lease, notwithstanding availability of an adequate remedy at law, and each
party hereby waives the right to raise such defense in any proceeding in equity.

         SECTION 12.6. WAIVER OF BREACH. No waiver of any breach of any covenant
or agreement herein contained shall operate as a waiver of any subsequent breach
of the same covenant or agreement or as a waiver of any breach of any other
covenant or agreement, and in case of a breach by the Company of any covenant,
agreement or undertaking by the Company, the City may nevertheless accept from
the Company any payment or payments hereunder without in any way waiving City's
right to exercise any of its rights and remedies provided for herein with
respect to any such breach or breaches of the Company which were in existence at
the time such payment or payments were accepted by the City.

                                      -42-

<PAGE>

         SECTION 12.7. NOTICE OF DEFAULTS UNDER SECTION 12.1; OPPORTUNITY OF
COMPANY TO CURE DEFAULTS.

         (a)      Anything herein to the contrary notwithstanding, no default
                  specified in Section 12.1(b)(c) or (d) shall constitute an
                  Event of Default until actual notice of such default by
                  registered or certified mail shall be given by the Trustee or
                  by the Owners of twenty-five percent (25%) in aggregate
                  principal amount of all Bonds Outstanding to the Company and
                  the Company shall have had thirty (30) days after receipt of
                  such notice to correct said default or cause said default to
                  be corrected, and shall not have corrected said default or
                  caused said default to be corrected within such period;
                  provided, however, if any such default shall be such that it
                  cannot be corrected within such period, it shall not
                  constitute an Event of Default if corrective action is
                  instituted by the Company within such period and diligently
                  pursued until the default is corrected.

         (b)      With regard to any alleged default concerning which notice is
                  given to the Company under the provisions of this Section, the
                  Company hereby grants the City full authority for account of
                  the Company to perform any covenant or obligation, the
                  nonperformance of which is alleged in said notice to
                  constitute a default, in the name and stead of the Company,
                  with full power to do any and all things and acts to the same
                  extent that the Company could do and perform any such things
                  and acts in order to remedy such default.

         SECTION 12.8. TRUSTEE'S EXERCISE OF THE CITY'S REMEDIES. Whenever any
Event of Default shall have occurred and be continuing, the Trustee may, but
except as otherwise provided in the Indenture shall not be obliged to, exercise
any or all of the rights of the City under this Article, upon notice as required
of the City unless the City has already given the required notice. In addition,
the Trustee shall have available to it all of the remedies prescribed by the
Indenture.

                                  ARTICLE XIII

                             ASSIGNMENT AND SUBLEASE

         SECTION 13.1. ASSIGNMENT; SUBLEASE. The Company may assign this Lease
in whole or in part, and may sublease the Project as a whole or in part, without
the necessity of obtaining the consent of the Trustee, subject, however, to each
of the following conditions:

         (a)      The prior written consent of the City, which consent shall not
                  be unreasonably withheld; provided, however, the consent of
                  the City shall

                                      -43-

<PAGE>

                  not be required for a sublease by and between the Company and
                  Ameritrade or an assignment or sublease to or with any
                  successor to the Company or any entity owned by or under
                  common ownership with the Company;

         (b)      Except upon prior written consent of the City, no assignment
                  or sublease shall relieve the Company from primary liability
                  for any of its obligations hereunder, and in the event of any
                  such assignment or sublease the Company shall continue to
                  remain primarily liable for payment of the Basic Rent and
                  Additional Rent specified in Sections 5.1 and 5.2 hereof and
                  for performance and observance of the other covenants,
                  warranties, representations and agreements on its part herein
                  provided to be performed and observed by it to the same extent
                  as though no assignment or sublease had been made.

         (c)      Any assignee shall assume the obligations of the Company
                  hereunder to the extent of the interest assigned;

         (d)      The Company shall, at least thirty (30) days prior to such
                  assignment or sublease, furnish or cause to be furnished to
                  the City and to the Trustee a true and complete copy of each
                  such assignment and assumption of obligations or sublease, as
                  the case may be, unless such assignment or sublease is to or
                  with any successor to the Company or any entity owned by or
                  under common ownership with the Company.

         SECTION 13.2. ASSIGNMENT OF REVENUES BY CITY. The City shall assign and
pledge any rents, revenues and receipts receivable under this Lease, to the
Trustee pursuant to the Indenture as security for payment of the principal of,
interest and premium, if any, on the Bonds and the Company hereby consents to
such pledge and assignment.

         SECTION 13.3. RESTRICTIONS ON SALE OR ENCUMBRANCE OF PROJECT BY CITY.
During this Lease Term, the City agrees that, except to secure the Bonds to be
issued pursuant to the Indenture, it will not sell, assign, encumber, mortgage,
transfer or convey the Project or any interest therein.

                                   ARTICLE XIV

                      AMENDMENTS, CHANGES AND MODIFICATIONS

         SECTION 14.1. AMENDMENTS, CHANGES AND MODIFICATIONS. Except as
otherwise provided in this Lease or in the Indenture, after the date hereof and
prior to the payment in full of the Bonds (or provision for the payment thereof
having been made in accordance with the provisions of the Indenture), this Lease
may not be effectively

                                      -44-

<PAGE>

amended, changed, modified, altered or terminated without the prior written
consent of the Trustee, given in accordance with the provisions of the
Indenture.

                                   ARTICLE XV

                            MISCELLANEOUS PROVISIONS

         SECTION 15.1. NOTICES. All notices, certificates or other
communications required or desired to be given hereunder shall be in writing and
shall be deemed duly given when (a) mailed by registered or certified mail,
postage prepaid, or (b) sent by overnight delivery or other delivery service
which requires written acknowledgment of receipt by the addressee, addressed as
follows (except that notices, certificates or communications to the Trustee
shall be effective upon receipt):

         (a)      To the City:

                           City of Kansas City, Missouri
                           414 East 12th Street, 1st Floor
                           Kansas City, Missouri 64106
                           Attn: City Treasurer
                           Telecopier Number: (816) 513-1020

                  and to:

                           City of Kansas City, Missouri
                           City Hall
                           Law Department, 28th Floor
                           414 East 12th Street
                           Kansas City, Missouri 64106
                           Attn: City Attorney
                           Telecopier Number: (816) 513-3133

         (b)      To the Company:

                            MasterCard International, LLC
                            2200 MasterCard Boulevard
                            O'Fallon, MO 63366
                            Attention: Michael Manchisi,
                            Senior Vice President - Global Operations
                            Administration and Finance
                            Telecopier Number: (636) 722-6714

                                      -45-

<PAGE>

         (c)      To the Trustee:

                           UMB Bank, N.A.
                           2401 Grand Boulevard, Suite 200
                           Kansas City, Missouri 64108
                           Attn: Corporate Trust Department
                           Telecopier Number: (816) 860-3021

         Except as provided above, all notices given by certified or registered
mail as aforesaid shall be deemed fully given as of the date they are so mailed.
A duplicate copy of each notice, certificate or other communication given
hereunder by the City or the Company to the other shall also be given to the
Trustee. The City, the Company and the Trustee may from time to time designate,
by notice given hereunder to the others of such parties, such other address to
which subsequent notices, certificates or other communications shall be sent.

         SECTION 15.2. CITY SHALL NOT UNREASONABLY WITHHOLD CONSENTS AND
APPROVALS. Wherever in this Lease it is provided that the City shall, may or
must give its approval or consent, or execute supplemental agreements or
schedules, the City shall not unreasonably, arbitrarily or unnecessarily
withhold, refuse to give or delay such approvals or consents or refuse to
execute or delay the execution of such supplemental agreements or schedules.

         SECTION 15.3. NET LEASE. The parties hereto agree (a) that this Lease
shall be deemed and construed to be a net lease, (b) that the payments of Basic
Rent are designed to provide the City and the Trustee funds adequate in amount
to pay all principal of and interest accruing on the Bonds as the same become
due and payable, (c) that to the extent that the payments of Basic Rent are not
sufficient to provide the City and the Trustee with funds sufficient for the
purposes aforesaid, the Company shall be obligated to pay, and it does hereby
covenant and agree to pay, upon demand therefor, as Additional Rent, such
further sums of money, in cash, as may from time to time be required for such
purposes, and (d) that if after the principal of and interest on the Bonds and
all costs incident to the payment of the Bonds have been paid in full and the
Trustee or the City holds unexpended funds received in accordance with the terms
hereof such unexpended funds shall, after payment therefrom of all sums then due
and owing by the Company under the terms of this Lease, and except as otherwise
provided in this Lease and the Indenture, become the absolute property of and be
paid over forthwith to the Company.

         SECTION 15.4. NO PECUNIARY LIABILITY. No provision, covenant or
agreement contained in this Lease, the Indenture or the Bond, or any obligation
herein or therein imposed upon the City, or the breach thereof, shall constitute
or give rise to or impose upon the City a pecuniary liability or a charge upon
the general credit or taxing powers of the City of Kansas City or the State of
Missouri. Nothing herein will preclude a proper party in interest from seeking
and obtaining, to the extent permitted by law, specific

                                      -46-

<PAGE>

performance against the City for any failure to comply with any term, condition,
covenant or agreement herein or in the Indenture; provided, that no costs,
expenses or other monetary relief will be recoverable from the City.

         SECTION 15.5. GOVERNING LAW. This Lease shall be construed in
accordance with and governed by the laws of Missouri.

         SECTION 15.6. BINDING EFFECT. This Lease shall be binding upon and
shall inure to the benefit of the City and the Company and their respective
successors and assigns.

         SECTION 15.7. SEVERABILITY. If for any reason any provision of this
Lease shall be determined to be invalid or unenforceable, the validity and
enforceability of the other provisions hereof shall not be affected thereby.

         SECTION 15.8. EXECUTION IN COUNTERPARTS. This Lease may be executed
simultaneously in several counterparts, each of which shall be deemed to be an
original and all of which shall constitute but one and the same instrument.

         IN WITNESS WHEREOF, the parties hereto have caused this Lease to be
executed in their respective corporate names and their respective corporate
seals to be hereunto affixed and attested by their duly authorized officers, all
as of the date first above written.

             [The remainder of this page intentionally left blank.]

                                      -47-

<PAGE>

         THIS LEASE AGREEMENT is hereby executed as of the date first
hereinabove written.

                                          CITY OF KANSAS CITY, MISSOURI

                                          By:   /s/ Kevin Riper
                                              ----------------------------------
                                                  Director of Finance

[SEAL]

ATTEST:

By:   /s/ Linda F. Becker
    -----------------------------
        City Clerk

<PAGE>

         THIS LEASE AGREEMENT is hereby executed as of the date first
hereinabove written.

                                              MASTERCARD INTERNATIONAL, LLC

                                              By:     /s/ Frantz Vincent
                                                  ------------------------------
                                              Name:     Frantz Vincent
                                              Title:    Vice President

(SEAL)

ATTEST:

By:    ______________________________________________
Name:  ______________________________________________
Title: ______________________________________________

<PAGE>

                                 ACKNOWLEDGMENT

STATE OF MISSOURI   )
                    ) SS.
COUNTY OF JACKSON   )

         On this _____ day of April, 2003, before me, a Notary Public in and for
said State, personally appeared Kevin Riper who acknowledged himself to be the
Director of Finance of the CITY OF KANSAS CITY, MISSOURI, and Linda Becker, who
acknowledged herself to be the City Clerk of the CITY OF KANSAS CITY, MISSOURI,
a constitutional charter city and municipal corporation organized and existing
under the laws of the State of Missouri, and that they, as such Director of
Finance and City Clerk are authorized to do so, executed the foregoing
instrument for the purposes therein contained by signing the name of the City by
themselves as Director of Finance and City Clerk.

         IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial
seal the day and year last above written.

                                          ______________________________________
                                                       Notary Public

My Appointment Expires:

______________________________

<PAGE>

                                 ACKNOWLEDGMENT

STATE OF _________  )
                    ) SS.
COUNTY OF ________  )

         On this _____ day of April, 2003, before me, the undersigned, a Notary
Public, appeared _______________________, to me personally known, who, being by
me duly sworn, did say that he/she is the _______________________ of MasterCard
International, LLC, a Delaware limited liability company, and that said
instrument was signed in behalf of said company by authority of its sole member,
and said ____________________acknowledged said instrument to be executed for the
purposes therein stated and as the free act and deed of said company.

         IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial
seal the day and year last above written.

                                          ______________________________________
                                                       Notary Public

My Appointment Expires:

______________________________

<PAGE>

                                    EXHIBIT A

                                  PROJECT SITE

TRACT 1: (THE ESTATE OR INTEREST IN THIS TRACT WHICH IS FEE SIMPLE)

All of LOT 2, T.W.A. ADMINISTRATIVE CENTER, a subdivision in Kansas City, Platte
County, Missouri, according to the recorded plat thereof, filed in Flat Book 17,
Page 88, described as follows: Commencing at the Northwest corner of the
Southeast 1/4 of Section 23, Township 52, Range 34; thence South 89 degrees 42
minutes 46 seconds East along the North line of said Southeast 1/4, 237.97 feet
to the Northwest corner of said LOT 2, said point being the point of beginning
of the tract to be described herein; thence South 89 degrees 42 minutes 46
seconds East, along the North line of said LOT 2, 1087.49 feet to the Westerly
Right-of-Way line of Ambassador Drive; thence South 00 degrees 16 minutes 50
seconds West along said Right-of-Way line, 30.00 feet; thence North 89 degrees
42 minutes 46 seconds West, parallel with the North line of said LOT 2,574.65
feet; thence South 00 degrees 16 minutes 50 seconds West, parallel with the West
line of said Ambassador Drive 626.92 feet; thence North 89 degrees 42 minutes 46
seconds West, parallel with the North line of said Lot 2,493.19 feet to the
Easterly Right-of-Way line of interstate No. 29, said line also being the West
line of said Lot 2; thence Northerly along said line, on a curve to the left,
having a radius of 11,589.16 feet and an Initial tangent bearing of North 00
degrees 11 minutes 33 seconds East, an arc distance of 657.31 feet to the point
of beginning, located as shown on that certain Survey prepared by Robert L.
Buford Land Surveyors under seal of Charles E. Kutz, Missouri Registered Land
Surveyor #2379, dated August 22, 2002, last revised October 16, 2002 and
referred to as Job No. P-02117.

TRACT 2: (THE ESTATE OR INTEREST IN THIS TRACT IS EASEMENT)

A non-exclusive, perpetual appurtenant easement for Ingress and Egress and
Parking established in Document No. 14289, in Book 670, Page 517, as amended by
the instrument recorded May 5, 1993, as Document No. 6108, in Book 790, Page 89,
and as amended by the instrument recorded April 29, 1994, in Book 811, Page 904,
as Document No. 7138, over the following described property: Commencing at the
Northwest corner of said Southeast 1/4; thence South 89 degrees 42 minutes 46
seconds East, along the North line of said Southeast 1/4, 750.81 feet to the
point of beginning of the easement to be described herein; thence South 89
degrees 42 minutes 46 seconds East, continuing along said North line, 149.00
feet; thence South 00 degrees 16 minutes 50 seconds West, parallel with the East
line of Lot 1, T.W.A., ADMINISTRATIVE CENTER 498.65 feet; thence South 89
degrees 42 minutes 46 seconds East, parallel with the North line of said
Southeast 1/4, 425.65 feet to the West right-of way line of Ambassador Drive;
thence South 00 degrees 16 minutes 50 seconds West, along said right-of-way
line, 50.00 feet; thence North 89 degrees 42 minutes 46 seconds West, parallel
with the North line of said Southeast 1/4, 494.65 feet; thence South 00 degrees
16 minutes 50 seconds West, 180.00 feet; thence North 89 degrees 42 minutes 46
seconds West 80.00 feet; thence North 00 degrees 16 minutes 50 seconds East
71.73 feet to the Southeast corner of Lot 2, T.W.A. ADMINISTRATIVE CENTER;
thence North 00 degrees 16 minutes 50 seconds East along the Easterly line of
said lot 2 and its Northerly

<PAGE>

prolongation, 656.92 feet to the point of beginning, located as shown on that
certain Survey prepared by Robert L. Buford Land Surveyors under seal of Charles
E. Kutz, Missouri Registered Land Surveyor #2379, dated August 22, 2002, last
revised October 16, 2002 and referred to as Job No. P-02117.

TRACT 3: (THE ESTATE OR INTEREST IN THIS TRACT IS EASEMENT)

Sanitary sewer easement established in Document No. 14290, in Book 670, Page
518, described as follows: a strip of land 10.00 feet in width in the Southeast
1/4 of Section 23, Township 52, Range 34, Kansas City, Platte County, Missouri,
lying 5.00 feet on each side of the following described centerline: Commencing
at the Northwest corner of the Southeast 1/4 of said Section 23; thence South 89
degrees 42 minutes 46 seconds East along the North line of said Southeast 1/4,
750.81 feet; thence South 0 degrees 16 minutes 50 seconds West, 601.42 feet to
the true point of beginning oE the centerline to be herein described; thence
South 59 degrees 35 minutes 51 seconds East, 57.27 feet to the point of
termination, located as shown on that certain Survey prepared by Robert L.
Buford Land Surveyors under seal of Charles E. Kutz, Missouri Registered Land
Surveyor #2379, dated August 22, 2002, last revised October 16, 2002 and
referred to as Job No. P-02117

TRACT 4: (THE ESTATE OR INTEREST IN THIS TRACT IS EASEMENT)

Gas line easement established by the instrument recorded May 5, 1993, as
Document No. 6111, Book 790, Page 92. and as amended and restated ay that
certain instrument recorded April 29, 1994. in Book 811, Page 903, as Document
No. 7137, described as follows: A Strip of land 15 feet in width, over and
across Lot 1, T.W.A. ADMINISTRATIVE CENTER, a subdivision of land in Kansas
City, Platte County, Missouri, according to the recorded plat of such
subdivision, recorded in Deed Book 17, Page 88, Platte County, Missouri,
records, lying 7.5 feet on either side of the following described centerline:
Beginning at a point on the North line of said Lot 1, said point being North 89
degrees 42 minutes 46 seconds West along said North line, 276.34 feet from the
Southeast corner of Lot 2, said T.W.A. ADMINISTRATIVE CENTER; thence South 00
degrees 17 minutes 14 seconds West 127.20 feet; thence North 89 degrees 42
minutes 46 seconds West, 217.17 feet to a point on the West line of said Lot 1,
and the point of termination of said centerline. Said centerline and the Gas
line easement being located as shown on that certain Survey prepared by Robert
L. Buford Land Surveyors under seal of Charles E. Kutz, Missouri Registered Land
Surveyor #2379, dated August 22, 2002, last revised October 16, 2002 and
referred to as Job No. P-02117.

TRACT 5: (THE ESTATE OR INTEREST IN THIS TRACT IS EASEMENT)

Storm sewer easement established by the instrument recorded May 5, 1993, as
document No. 6113, Book 790, Page 94, and as amended and restated by the certain
instrument recorded April 29, 1994, in Book 811, Page 902, as Document No. 7136,
across a portion of Lot 1. T.W.A. Administrative Center, as more specifically
described therein, and located as shown on that certain Survey prepared by
Robert L. Buford Land Surveyors under seat of Charles E. Kutz, Missouri
Registered Land Surveyor #2379, dated August 22, 2002, last revised October 16,
2002 and referred to as Job No. P-02117.

<PAGE>

TRACT 6: (THE ESTATE OR INTEREST IN THIS TRACT IS EASEMENT)

Electric line easement established by the instrument recorded May 5, 1993, as
Document No. 6112, Book 790, Page 93, corrected by the instrument recorded
August 12, 1993, as Document No.12098 in Book 796, Page 56, and as amended and
restated by the certain instrument recorded April 29, 1994, in Book 811, Page
905, as Document No. 7139, described as follows: A strip of land 15 feet in
width, over and across Lot 1, T.W.A. Administrative Center, a subdivision of
land in Kansas City, Platte County, Missouri, according to the recorded plat of
such subdivision, recorded in Deed Book 17, Page 88, Platte County, Missouri
records, lying 7.5 feet on either side of the following described centerline;
Beginning at a point on the North line of said Lot 1, said point being 50.35
feet East from the Northwest corner of said Lot 1 and the Southwest corner of
Lot 2, T.W.A. Administrative Center, recorded in the aforesaid plat of
subdivision; thence South 11 degrees 15 minutes 27 seconds West, 226.24 feet to
a point located 8.12 feet from the West line of said Lot 1, at the point of
termination of said centerline, said point of termination being shown as Manhole
No. 8, which Manhole No. 8, together with centerline and the Electric Line
Easement all being located as shown on that certain Survey prepared by Robert L.
Buford Land Surveyors under seal of Charles E. Kutz, Missouri Registered Land
Surveyor #2379, dated August 22, 2002, last revised October 16, 2002 and
referred to as Job No. P-02117.

TRACT 7; (THE ESTATE OR INTEREST IN THIS TRACT WHICH IS LEASEHOLD)

The leasehold estate created by the Conduit Lease executed by Trans World
Airlines, Inc., to Worldspan, L.P. a Delaware limited partnership, for a term of
years commencing May 1,1993 and ending April  30, 2092 (or upon such earlier
date as provided therein) recorded in Book 811, Page 910, as Document No. 7144,
in and to the Tenant Conduits (as defined in such Conduit Lease) and the
electrical lines therein contained located in the Duct Bank (as defined in such
Conduit Lease) such Duct Bank being located in a tract of land being 7.5 feet on
either side of the following described centerline: A strip of land 15 feet in
width, over and across Lot l, T.W.A. Administrative Center, a subdivision of
land in Kansas City, Platte County, Missouri, according to the recorded plat of
such subdivision, recorded in Deed Book 17, Page 88, Platte County, Missouri
records, lying 7.5 feet on either side of the following described centerline:
Beginning at a point on the North line of said Lot 1, said point being 50.35
feet East from the Northwest corner of said Lot 1 and the Southwest corner of
Lot 2, T.W.A. Administrative Center, recorded in the aforesaid plat of
subdivision; thence South 11 degrees 15 minutes 27 seconds West, 226.24 feet to
a point located 8.12 feet from the West line of said Lot 1, at the point of
termination of said centerline, said point of termination being shown as Manhole
No. 8, on that certain Plat of Survey dated May 4, 1993, last revised July
20,1993, prepared for PARS Service Partnership by Anderson Survey Company, (the
"Anderson Survey"), together with a strip of land 15 feet in width, over and
across Lot 2, T.W.A., Administrative Center, a subdivision of land in Kansas
City, Missouri, according to the aforesaid recorded plat, lying 7.5 feet on
either side of the following described centerline: Beginning at a point on the
South line of said Lot 2, said point being 50.35 feet East from the Southwest
corner of said Lot 2 and the Northwest corner of Lot 1, as described above;
thence in a Northeasterly direction to Manhole 8A as described and shown on the
Anderson Survey, together with a strip of land 15 feet in

<PAGE>

width, over and across Lot 1, T.W.A. Administrative Center, Interstate Rte. 29,
N.W. 115th Street and property known as Kansas City International Airport, being
7.5 feet on either side of the following described centerline: Commencing at
Manhole No. 8 as described above on such Lot 1; thence over and across such Lot
1, Interstate Rte. 29, N.W. 115th Street and Kansas City International Airport
the courses and distances shown and set forth on the Anderson Survey along the
Strip of land being thereon identified as the "underground duct bank", to the
point of termination, said point of termination being shown on the Anderson
Survey as the Switch Gear Building. The aforesaid centerlines, and the location
of the Tenant Conduits and the Duct Bank being more particularly described and
shown on the Anderson Survey

<PAGE>

                                    EXHIBIT B

                   PROJECT IMPROVEMENTS AND PROJECT EQUIPMENT

         All buildings, structures, improvements, equipment and machinery
located on or to be acquired or purchased for the construction and improvement
and equipping of the project Site pursuant to Article IV hereof and paid and all
personal property, including, without limitation, furniture, fixtures,
machinery, equipment and parts or other personal property installed or acquired
or to be acquired for installation on the Project Site pursuant to Article IV
hereof and paid for in whole or in part from the proceeds of Bonds and all
replacements thereof and substitutions therefor made pursuant to the Lease.

<PAGE>

                                    EXHIBIT C

                         FORM OF REQUISITION CERTIFICATE

                                                       Requisition No. _________
                                                       Date: __________________

                             REQUISITION CERTIFICATE

TO:      UMB Bank, N.A., AS TRUSTEE UNDER A TRUST INDENTURE DATED AS OF April 1,
         2003, BETWEEN THE CITY OF KANSAS CITY, MISSOURI, AND THE TRUSTEE, AND
         LEASE AGREEMENT DATED AS OF, BETWEEN THE CITY OF KANSAS CITY, MISSOURI,
         AND MasterCard International.

         The undersigned hereby requests that a total of $_____________ be paid
for Project Costs (as defined in said Lease) in such amounts, to such payees and
for such purposes as set forth on Schedule 1 attached hereto.

         We hereby state and certify that: (a) the amounts requested are or were
necessary and appropriate in connection with the acquisition, improvement and
installation of the Project, have been properly incurred and are a proper charge
against the Project Fund, and have been paid by or are justly due to the persons
whose names and addresses are set forth on Schedule 1, for the Project Equipment
detailed on Schedule 2 and have not been the basis of any previous requisition
from the Project Fund; (b) as of this date, except for the amounts referred to
above, there are, to the best of our knowledge, no outstanding statements which
are due and payable for labor, wages, materials, supplies or services in
connection with the acquisition and installation of the Project which, if
unpaid, might become the basis of a vendors', mechanics', laborers' or
materialmen's statutory or similar lien upon the Project or any part thereof,
unless any such lien is being contested pursuant to Section 8.3(b) of the Lease;
and (c) no part of the several amounts paid or due as stated above has been or
is being made the basis for the withdrawal of any moneys from the Project Fund
in any previous or pending application for payment made pursuant to said Lease.

         For any payee which is the Company the undersigned hereby instructs the
Trustee to make such payment by electronic transfer to the following account:
Bank Name: ____________________, Bank Location: __________________, ABA No.
________________, Credit Account No. __________________, Account Name
_________________, ([______________]), Contact Person:
______________________________.

                                         MasterCard International, LLC

                                         By: ___________________________________
                                         Name: _________________________________
                                               Authorized Company Representative

<PAGE>

                      SCHEDULE 1 TO REQUISITION CERTIFICATE

<TABLE>
<CAPTION>
Amount          Payee and Address          Description
------          -----------------          -----------
<S>             <C>                        <C>
</TABLE>

<PAGE>

                                   SCHEDULE 2

                                PROJECT EQUIPMENT

<PAGE>

                                    EXHIBIT D

                             [Insert PILOT Schedule]

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