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Section 5. Form of Bond. The Bond shall be in substantially the following form: UNITED STATES OF AMERICA NO. R-1 $ STATE OF WASHINGTON KITTITAS COUNTY LIMITED TAX GENERAL OBLIGATION REFUNDING BOND, 2020 INTEREST RATE: 1.91% MATURITY DATE: DECEMBER 1, 2030 REGISTERED OWNER: U.S. BANK NATIONAL ASSOCIATION TAX IDENTIFICATION #: . PRINCIPAL AMOUNT: AND NO/100 DOLLARS KITTITAS COUNTY, WASHINGTON (the "County"), hereby acknowledges itself to owe and for value received promises to pay to the Registered Owner identified above, or registered assigns, the Principal Amount specified above, together with interest thereon, at the Interest Rate, which interest shall be payable semi-annually on June 1 and December 1 of each year until paid, commencing on June 1, 2020. Principal shall be repaid in installments as provided on Exhibit A attached hereto. Interest shall be calculated on the basis of a 360 -day year consisting of twelve 30 -day months. Both principal of and interest on this bond are payable in lawful money of the United States of America. This bond shall bear interest on unpaid principal from its date or the most recent date to which interest has been paid. The final payment of principal of and interest on this bond shall be paid to the Registered Owner hereof upon presentation and surrender of this bond to the fiscal agent of the state of Washington, currently U.S. Bank National Association, as, authenticating agent and paying agent or such other agent as may be appointed by the Kittitas County Treasurer (the "Bond Registrar"). This bond is issued pursuant to Resolution No. 2020- (the "Bond Resolution") adopted by the Board of the County on January 21, 2020 to provide funds for the purpose of refunding certain outstanding general obligation bonds of the County. Capitalized terms used in this bond and not otherwise defined shall have the meanings given them in the Bond Resolution. This bond is not subject to prepayment. -10- 502686980 v1