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200403826 Section 4.2. Vendor hereby confirms the appointment of Project Manager and Alternate Project Manager as set forth in the foregoing Section 4.1. Requisitions for payment for costs of the Project shall be signed by the Project Manager or Alternate Project Manager and shall be submitt ed to the Trustee for payment as provided in Article VI of the Indenture. ARTICLE V COVENANTS OF PURCHASER Section 5.1. Purchaser covenants that it is a duly organized and existing as a community college area of the State of Nebraska with full and lawful power and authority to enter into this Contract for Purchase pursuant to Section 85- 1511(4), R.R.S. Neb. 1999, as amended; that it has received written approval for the Project and its financing by contract for purchase from the Coordinating Commission for Postsecondary Education; and that it has taken all actions necessary to validly enter into this Contract for Purchase. Section 5.2. Purchaser covenants that the basic payments payable under this Contract for Purchase do not exceed any limitation imposed by law. Until the Building and Equipment Bonds and interest thereon are fully paid, Purchaser covenants and agrees to make and continue to make for so long as permitted by law an annual levy on all the taxable property within its geographical area pursuant to Section 85- 1517(2)(a), R.R.S. Neb. 1999, as amended, which will be sufficient, along with any other funds available for the purpose, to enable Purchaser to pay all basic and additional payments as and when the same become due, and to take all action required to provide funds to make basic and additional payments as herein required. Purchaser hereby covenants and warrants with respect to the capital improvement and bond sinking fund as established under Section 85 -1515, R.R.S. Neb. 1999, that (a) it has no bonds outstanding payable from such fund; (b) that in each budget year it will provide for the purposes and programs described and referred to in Section 85 -1515 (2)(a), (2)(b) and (2)(c), R.R.S. Neb. 1999, in such manner as to leave remaining in each budget year available tax levy monies from the tax levy permitted under Section 85- 1517(2), R.R.S. Neb. 1999, amounts sufficient to pay all amounts due under this Contract for Purchase (including basic payments and all other required payments) as the same fall due; (c) that the Purchaser has and will have no other obligations outstanding, bonded or otherwise, for purchasing or purchasing on contract or for constructing or improving facilities during the term of this Contract for Purchase which would cause the tax levy amounts required to be available for payments due under this Contract for Purchase to be insufficient to pay all amounts due under this Contract for Purchase (including basic payment and all other required payments) as the same fall due. The College's prior existing obligation to make similar provision for payments due under a Lease - Purchase Agreement dated as of March 1, 2003 (the "2003 Lease ") are hereby acknowledged by the parties hereto. Section 5.3. Purchaser covenants and agrees that throughout the term of this Contract for Purchase it will observe all budget, tax and spending limitations now or hereafter imposed by law in such a manner that a sufficient portion of its tax levy or other monies shall be lawfully available to make all payments due under this Contract for Purchase and the 2003 Lease. Purchaser agrees that commencing with its budget for the fiscal year 2004 -2005 it will include amounts sufficient to make basic payments as the same fall due in its annual budget and appropriations. Section 5.4. Purchaser covenants and agrees that it shall neither take any action nor omit to take such action which such action or omission would have the affect of causing interest on the Building and 0 IV