This notice is a revised version of the Notice of Hearing on Proposed Amendment to Lease which was originally published on August 13, 2025, solely to reflect the updated date of the meeting of the Board of School Trustees (the “Board”) of the Whitko Community School Corporation (the “School Corporation”). You are hereby notified that a public hearing will be held before the Board of the School Corporation on September 22, 2025, at the hour of 5  p.m. (Local Time) at the Whitko Career Academy Lecture Room, 710 North State Road 5, Larwill, Indiana, upon a proposed Amendment to Lease (the “Amendment”) to be entered into between Whitko High School Building Corporation (the “Building Corporation”), as lessor, and the School Corporation, as lessee. The meeting will also be available to stream live from whitko.org and/or www.youtube.com/@whitkomarketing5487.

The proposed Amendment upon which the hearing will be held amends the existing Lease Agreement originally dated as of April 17, 2023 (the “Original Lease”, and together with the Amendment, the “Lease”). The Amendment extends the term of the Original Lease, increases the rent payable under the Original Lease, and adds Whitko Career Academy (“Tract II”) to the existing Leased Premises which currently consists of a portion of Whitko Junior/Senior High School (“Tract I”) in exchange for the renovation of and improvements to the properties which are subject to the Lease (Tract I and Tract II are collectively referred to as the “Leased Premises”). Upon the completion of the renovations to the building located on Tract I, the parties agree to execute a termination of the Lease solely as to the building located on Tract II, at which time Tract II will be removed from the Lease.

The Amendment extends the term of the Lease by twelve (12) years from the date of closing on the Lessor’s Ad Valorem Property Tax First Mortgage Bonds, Series 2025, and provides for interim lease rental payments on Tract II in the amount of up to $400,000 per payment beginning June 30, 2026, through completion of the renovation of and improvements to Tract I. Thereafter, the Amendment increases the annual Lease rental by a maximum of $800,000, payable on June 30 and December 31 beginning with the completion of the renovation of and improvements to Tract I of the Leased Premises or December 31, 2027.

As additional rental, the School Corporation shall maintain insurance on the Leased Premises as required in the Lease, shall pay all taxes and assessments against such Leased Premises, as well as the cost of alterations and repairs, and shall pay rebate amounts to the United States Treasury, if necessary. After the sale by the Building Corporation of its bonds (the “Bonds”) to pay for the cost of the renovation and improvements, including any other expenses incidental thereto, the increased annual Lease rental stated above shall be reduced to an amount equal to the multiple of $1,000 next higher than the sum of principal and interest due on the Bonds in each twelve-month period ending on January 15 plus $6,000, payable in equal semiannual installments.

The Lease gives an option to the School Corporation to purchase the Leased Premises on any Lease rental payment date.

The Leased Premises consist of: (i) the Whitko Junior/Senior High School building located at 1 Big Blue Avenue, South Whitley, Indiana; and (ii) the Whitko Career Academy located at 710 North State Road 5, Larwill, Indiana, both of which are located within the boundaries of the School Corporation.

The plans and the estimates for the cost of the renovation and improvements, as well as a copy of the proposed Amendment, are available for inspection by the public on all business days, during business hours, at the Administration Building of the School Corporation, 710 North State Road 5, Larwill, Indiana.

At such hearing all persons interested shall have a right to be heard upon the necessity for the execution of the Amendment, and upon whether the increased Lease rental provided for therein to be paid to the Building Corporation is a fair and reasonable rental for the renovations to the Leased Premises. Such hearing may be adjourned to a later date or dates, and following such hearing the Board may either authorize the execution of the Amendment as originally agreed upon or may make modifications therein as may be agreed upon with the Building Corporation.

Dated this 20th day of August, 2025.

/s/ Secretary, Board of Trustees
Whitko Community School Corporation

4920-8868-8215.2