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� . . . �. k„ . . . <br /> 7 . � . - . . � � u ` . <br />� - C .-�.. � <br /> 1 �LOa� � . � . . . . ' . . . <br /> , � � . .. <br /> ) <br /> . .. . . . .. �. . .._. � . . .. . . .. � , . . <br /> + . . . . . . . . . ... . . . .. . <br /> ! f� <br /> f <br /> i� <br /> :� i <br /> :� � 76_ 00651:3 <br /> ;. <br /> � �� . . . . . � . <br /> `? ( f ) Accrued interest received upon the sale of the � <br /> r . Series A Bonds is to be applied to the first interest <br /> i �i due thereon . <br /> :z� <br /> � ( g ) On the basis of the foregoing , it is not f <br /> ? expected that the proceeds of the Series A Bonds wi11 <br /> u; be used in a manner that would cause the Original Bonds <br /> " to be classified as " arbitrage bonds " under Section <br /> ,� <br /> �� 103 ( c ) of the Internal Revenue Code of 1954 , as amended , <br /> �� and the regulations prescribed under that Section . <br /> h ( h ) To the best knowledge and belief of the <br /> ` Authority , there are no facts or circumstances that <br /> '' � <br /> ;,�i would materially change the foregoing conclusion . <br /> :� <br /> ., <br /> `a ARTICLE VII <br /> � � <br /> r� Remedies <br /> zs; <br /> � Section 701 . �xtension of Payment ; Penaltv . In case <br /> r:Y� the time for the paynent of principal or the interest on any <br /> � �; coupon Bonds or registered Bonds without coupons shall be ex- <br /> %; tended , whether or not such extension be by or with the consent � <br /> ' of the . Authority , such princioal or such interest so extended <br /> �' shall not be entitled in case of default hereunder to the bene - <br /> a <br /> ;i fit or security of this Indenture except sub ,ject to the prior <br /> �.` payment in full of the princioal of all Bonds then outstanding <br /> '�r and of all interest thereon the tir.:e for the • <br /> � shall not have been extended . P2,/ment of which <br /> ` � Section 702 . Events of Default . Each of the folloiaing <br /> :a events is hereby declared an event of default " , that is to say , <br /> � ;r i f : <br /> ;:; <br /> ;z <br /> ;; ( a ) payment of any installnent of interest on any <br /> ; of the Bonds shall not be made r:hen the s2.r:e shall become <br /> _ due and payable ; or <br /> ,; <br /> 1 <br /> ( b ) payment of the principal or of the reder�ption <br /> � premitwls , i£ any , of an� of the Bonds shall not be m2de <br /> ;' when the sane shall become due an3 payable , either at <br /> i maturity or by proceedings for redemotion or through <br /> 2 failure to ful £ill any pay:�ent to any Fund hereunder or <br /> ,:_�,, othervrise ; or <br /> ::; <br /> :i� <br /> ::`%;�� <br /> ; i�„ <br /> '�i <br /> i,%,.; <br /> 's,;, <br /> :.�� — 53 — <br /> ,r <br /> ��:;.�a � � � <br /> ;=;� <br /> .. ,'1 r�*.� { } <br /> ` ` i <br /> r '�' <br /> , ; N . <br /> � � <br /> �.: � �.�. . . ,',a. <br /> . ' .. � � � . � . � r �.. <br /> . . � . . � . � , . ' . . � _ . , . . . . . . . � +� <br /> v ' � . .� � � ' . <br />' � � � <br />`� <br />