Pinecrest Developments Ltd

£35,000,000 9 > PER CENT, FIRST MORTGAGE DEBENTURE STOCK DUE 2025 OF THE UNIVER SITY OF LANCASTER AND ALL FURTHER STOCK AND ALL OTHER MONIES SECURED BY THE TRUS T DEEDS AND DEEDS SUPPLEMENTAL THERETO. UNDER THE TERMS OF THE AFOREMENTIONED I NSTRUMENT CREATING OR EVIDENCING THE CHA RGE

PAYMENT OF THE PRINCIPAL OF AND PREMIUM (IF ANY) AND INTEREST ON THE £35,000,000 9 3/4 PER CENT. FIRST MORTGAGE DEBENTUR E STOCK 2025 OF THE UNIVERSITY OF LANCAS TER AND ANY FURTHER STERLING DENOMINATED FIRST MORTGAGE DEBENTURE STOCK OF THE U NIVERSITY OF LANCASTER WHICH MAY BE CREA TED PURSUANT TO THE TRUST DEED DATED 5TH APRIL, 1995 AND MADE BETWEEN THE UNIVER SITY OF LANCASTER, THE COMPANY AND THE C HARGEE AND ALL OTHER MONEYS PAYABLE BY T HE UNIVERSITY OF LANCASTER UNDER THE PRI NCIPAL TRUST DEED, THE THIRD SUPPLEMENTA L TRUST DEED AND BY THE DEEDS DATED 22.5 .95 AND 6.10.95 TO WHICH IT IS SUPPLEMEN TAL

£35,000,000

£35,000,000

£35,000,000 9 3/4 PER CENT. FIRST MORTGA GE DEBENTURE STOCK 2025 OF THE UNIVERSIT Y OF LANCASTER (THE "UNIVERSITY"), ALL F URTHER STOCK (AS DEFINED IN THE TRUST DE ED), WHETHER OR NOT OF THE SAME SERIES, AND ALL OTHER MONEYS PAYABLE BY THE UNIV ERSITY TO THE TRUSTEE (AS DEFINED IN THE TRUST DEED) UNDER THE TERMS OF THE TRUS T DEED