Laserfiche WebLink
.009 <br />and (ii) covenants by such Lessee to pay,. as` addi- <br />tional rental, 'all taxes and assessments insurance <br />premiums, expenses of repairs and maintenance and. <br />fees.and expenses of the Trustee'by reason of such <br />.additions, extensions or improvements to -the Project <br />and the•issuance of such bonds of other series. <br />(f) The issuance of such bonds of other series will,iin <br />all respects, comply with the Act, with the provisions. <br />of this Mortgage -and with all federal laws and require- <br />meats. <br />(g) It shall have obtained and filed with the Trustee an <br />opinion of counsel designated by the County and satis- <br />factory to counsel for the Trustee (and which may be - <br />counselfor the County 'or the Trustee) to the effect <br />that (i) the interest upon said bonds of other series <br />will be exempt from federal income taxes, and (ii) - <br />the interest upon all prior series of bonds will!eon- <br />tinue to remain exempt from federal income taxes after <br />the issuance, sale and delivery of said bonds of other. <br />series.. <br />(h) The combined annual* net income of Lessee and <br />Guarantor (exclusive of any extraordinary items) <br />before depreciation and- amortization expense and <br />adjusted for interest expense .(net of applicable' . <br />income tax benefit) on their combined existing <br />funded debt, when averaged for any two of the <br />three preceding completed fiscal years, shall have <br />been .not less -than two times the average.annual <br />debt service requirements (adjusted for applicable <br />income., -tax benefit on interest 'expense) on "all <br />bonds then outstanding under the Mortgage, and on <br />the bonds proposed to be issued.. <br />(i)_ A supplement.to this Mortgage is entered into pursuant <br />to Article XI hereof.. <br />Section 406. Compliance with. Section 405. hereof shall be <br />evidenced by (a) a certificate signed by the Chairman of!the Board <br />of Supervisors of the County as to compliance by the County, and <br />(b) a certificate signed by Lessee as to compliance by the Lessee, <br />and (c) certificate(s) of independent certified public accountants <br />(or firms of independent certified public accountants) as to <br />compliance by Lessee with each of the financial covenants contained <br />in the Lease, and (d) an ' opinion of the County -Attorney or of <br />special 'counsel designated by the County"satisfactory to counsel for <br />the Trustee as to compliance with the legal tests for issuance of <br />bonds of other series; provided, that in giving such opinion, the <br />County Attorney or such special counsel may rely upon the.aforesaid <br />certificates as to the matters contained. therein. Each such certi- <br />ficate and opinion shall recite that the signer has read' and is <br />IV -3 <br />