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[FORM OF SERIFS "A" OOUPON BOND]
- ST. I ~~!E LLtlNTT. ~L~RIDA EAST COAST RAILWAY COMPANY
~ a
Second Mortgage B~ 96 Convertible Income Bond, Series "A"
No Due January 1, 2011 No
FIARIDA EAST COAST RAILWAY COMPANY, s corporation or-
ganized and existing under the lava of the State of Florida (hereinafter
referred to as "The Company ), for value received, hereby promises to
pay to the bearer, or if thin Bond be registered as to p~ incipal, then to the
registered holder, on January~l,~Al1~ (; )
(unless previously called for Redemptian and payment thereof duly pro-
vided for) in such coin or currency of the United States of America as at
the time of payment shall be legal tender for the payment of public and
private debts, and to pay, as and to the extent provided in the Indenture
hereinafter referred to, in like coin or currency, contingent interest on
said principal amount from January 1, 1961, until payment of said princi-
pal amount, at the rata of 5~~;°'o per anru.^.i, payable with respect to each
Sethi-annual Accounting Period, on the September 1 or March 1 next suc-
ceeding the close of such Period (herein called Interest.-payment dates)
until Maturity hereof but only upon presentation and surrender of the
interest coupons attached hereto, and only if and to the extent that Avail-
able Net Income earned during such Period is sufficient therefor, except
that (1) if Available Net Income earned during such Period plus Unpaid
Earned Interest is less than 2sy496 of the aggre;ate principal amount of the
Company's Second Mortgage b~9b Convertible Income Bonds Series "A"
outstanding at the close of said Period, The Company may, at its election,
withhold payment of any interest with respect to such Period, but, in such
event, the Unpaid Earned Interest shall ~ be carried over and added to the
amount of interest payable on the next Interest-payment date; and (2)
interest ~~ respect to the Semi-annual Accounting Period ending on
December 31, 2010, shall be payable on January 1, 2011 to the extent that
Available Net Income earned during the period May 1, 2010 to and includ-
ing October 31, 2010, plus the Unpaid Earned Interest, if any, is sufficient
therefor. ZJnearual Iu%vFes`. (excluoi:~s of LTnp~'d FArn!~1 interest) shall
be cumulative up to an amount not exceeding, at any one time, 16t,/Q qo of
the principal amount hereof, and will be paid, Prior to the Maturity hereot,
if and to the extent Available Net Income is sufficient therefor, and, in
any event, at the Maturity hereof. No interest shall accrue on either Un-
paid Earned Interest or Unearned Interest unless-and then only during
the period Z"he Company is in Default hereunder or under the Indenture
hereinafter referred to. Principal and interest on this Bond is payable at
the office of The Company, or its agents; :n the Borough of Manhattan,
City and State of New York, or in Jacksonville, Florida.
This Bond is one of the Second Mortgage Bonds of The Company
(hereinafter sometimes referred to as the "Bonds") issued and issuable
under, and rat:.'~',~ secured by, an indenture of mortgage and deed of
trust (which, together with all indentures supplemental thereto being
hereinafter referred to as the "Indenture"), dated as of January 1, 1961,
executed by The Company to Manufacturers Trust Company and Pan
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