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201403667
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Last modified
8/19/2014 2:26:14 PM
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6/18/2014 3:48:43 PM
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DEEDS
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201403667
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4 <br />201403667 <br />prepayment of the Payments at any time and to cause such prepayments to be applied to the early <br />redemption and/or satisfaction of the Bonds. Any amount of the Payments not required for the payment <br />of principal and interest on the Bonds or the redemption and/or satisfaction thereof shall be considered <br />satisfied in full upon any payment or redemption and/or satisfaction in full of the Bonds. <br />Section IV. Deposit of Proceeds. The Corporation shall cause the net sale proceeds of the 2014 <br />Bonds, including the full amount of accrued interest, if any, to be deposited in the 2014 Escrow Fund (as <br />established in the Fourth Supplemental Indenture) and the 2014 Construction Fund (as established in the <br />Fourth Supplemental Indenture) and applied to defease the Refunded Bonds and to pay costs of issuance <br />on the 2014 Bonds, as more specifically provided in Article V of the Fourth Supplemental Indenture. <br />Section V. Continuing Disclosure. In accordance with the requirements of Rule 15c2 -12 <br />promulgated by the Securities and Exchange Commission, the College hereby agrees that it will provide <br />continuing disclosure for the Bonds as required by the College's Omnibus Continuing Disclosure <br />Undertaking, as amended. <br />Section VI. Tax Levy. The College covenants that the rentals payable under the Lease Purchase <br />Agreement do not exceed any limitation imposed by law. Until the Bonds and interest thereon are fully <br />paid, the College covenants and agrees to make and continue to make for so long as permitted by law an <br />annual levy on all the taxable property within its geographical area pursuant to Section 85 -1517, <br />R.S.Supp. 2012, which will be sufficient, along with any other funds available for the purpose, to enable <br />the College to pay all basic and additional rent as and when the same become due, and to take all action <br />required to provide funds to make rental payments as herein required. The College hereby covenants and <br />warrants with respect to the capital improvement and bond sinking fund as established under Section 85- <br />1515, R.R.S. Neb. 2008, that (a) it has no assumed or issued general obligation bonds outstanding payable <br />from such fund; (b) that in each budget year it will provide for the purposes and programs described and <br />referred to in Section 85 -1515 (2)(a), (2)(b) and (2)(c), R.R.S. Neb. 2008, in such manner as to leave <br />remaining in each budget year available tax levy monies from the tax levy permitted under Section 85- <br />1517, R.S.Supp. 2012, amounts sufficient to pay all amounts due under the Lease Purchase Agreement <br />(including lease - purchase rentals and all other required payments) as the same fall due; (c) that the <br />College has and will have no other obligations outstanding, bonded or otherwise, for purchasing or <br />purchasing on contract or for constructing or improving facilities during the term of the Lease Purchase <br />Agreement which would cause the tax levy amounts required to be available for payments due under the <br />Lease Purchase Agreement to be insufficient to pay all amounts due under the Lease Purchase Agreement <br />(including lease - purchase rentals and all other required payments) as the same fall due. <br />Section VII. Amendments to Original Lease Purchase Agreement as Amended by <br />Addendum. The Original Lease Purchase Agreement as amended by the First Addendum, the Second <br />Addendum, the Third Addendum, the Fourth Addendum and this Fifth Addendum may be amended only <br />in accordance with the terms of the Indenture. <br />
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