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200604217
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200604217
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Last modified
5/12/2006 1:15:29 PM
Creation date
5/12/2006 1:15:27 PM
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DEEDS
Inst Number
200604217
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<br />. T <br /> <br />200604217 <br /> <br />to be redeemed, the Company shall furnish to the Issuer and the Paying Agent a <br />certificate of a registered and qualified engineer acceptable to the Purchaser stating <br />(1) that the property forming a part of the Project that was taken by such <br />condemnation proceedings is not essential to the Company's use or occupancy ofthe <br />Project, or (2) that the Project has been restored to a condition substantially <br />equivalent to its condition prior to the taking by such condemnation proceedings, or <br />(3) that improvements have been acquired which are suitable for the Company's <br />operation at the Project as contemplated by the foregoing subsection (b) of this <br />Section; or <br /> <br />(d) if the foregoing subsection (c) of this Section is not applicable, <br />payment into the Bond Account for use by the Issuer in making prepayments on the <br />Notes and redeeming Bonds under the terms of the Agreement or, ifno Bonds then <br />remain outstanding, under the terms of the Agreement, to the Company. <br /> <br />Unless the Company shall have given notice of its election to exercise its option to <br />prepay the Notes pursuant to the provisions of Section 5.03(b) of the Agreement, within forty-five <br />(45) days from the date of entry of a final order in any eminent domain proceedings granting <br />condemnation, the Company shall direct the Issuer and the Paying Agent in writing as to which of <br />the ways specified in this Section the Company elects to have the condemnation award applied. <br /> <br />Any moneys held by the Paying Agent under the provisions of the preceding <br />paragraph shall, at the written request ofthe Company, be invested or reinvested by the Paying Agent <br />as specified by the Company (by one ofthe Authorized Company Representatives, as defined in the <br />Agreement) in such request in one or more of the investments enumerated in Section 4.10 of the <br />Agreement. Any earnings or profits on such investments shall be considered as part of the proceeds <br />and the Company shall forthwith pay to the Paying Agent the amount of any losses on such <br />investments. <br /> <br />SECTION 8. Maintenance and Repair. The Company shall keep the Project in good <br />condition and repair making from time to time all necessary repairs thereto and renewals and <br />replacements thereof, and covenants not to commit or permit waste thereof, and shall not remove <br />or demolish nor alter or impair the design or structural character of any building, fixture, equipment, <br />or other improvements now or hereafter situated upon the Project without the prior written consent <br />of the Purchaser, and shall not do or permit any other act or thing that will damage the Project or <br />cause the same to depreciate in value. <br /> <br />9 <br />
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