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85004553
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85004553
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Last modified
10/18/2011 1:01:12 AM
Creation date
4/1/2008 5:00:30 PM
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DEEDS
Inst Number
85004553
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85-, 004553 <br />are suitable for the Borrower's operation at the <br />Project as contemplated by the foregoing subsection (b) <br />of this Section. <br />(d) If the foregoing subsection (c) of this <br />Section is not applicable, payment into the Bond Fund <br />for use by the Issuer in making prepayments on the <br />Notes and prepaying Bonds under the terms of the Inden- <br />ture or, if no Bonds then remain outstanding, under the <br />terms of the Indenture, to the Borrower. <br />Unless the Borrower shall have given notice of its <br />election to exercise its option to prepay the Notes pursuant <br />the provisions of Section 7.03(b) of the Agreement, within <br />forty -five (45) days from the date of entry of a final order <br />in any eminent domain proceedings granting condemnation, the <br />Borrower shall direct the Issuer and the Trustee in writing <br />as to which of the ways specified in this Section the Bor- <br />rower elects to have the condemnation award applied. <br />Any moneys held by the Trustee under the provisions of <br />the preceding paragraph shall, at the written request of the <br />Borrower, be invested or reinvested by the Trustee as speci- <br />fied by the Borrower (by one of the authorized officers of <br />the Borrower) in such request in investments enumerated in <br />Section 3.05 of the Agreement. Any earnings or profits on <br />such investments shall be considered as part of the proceeds <br />and the Borrower shall forthwith pay to the Trustee the <br />amount of any losses on such investments. <br />Section 9. Maintenance and Repair. The Borrower <br />shall keep the Project in goad condition and repair making <br />from time to time all necessary repairs thereto and renewals <br />and replacements thereof, and not to commit or permit waste <br />thereof, and shall not remove or demolish nor alter or <br />impair the design or structural character of any building, <br />fixture, equipment or other improvements now or hereafter <br />situated upon the Project without the prior consent of the <br />Trustee, and shall not do or permit any other act or thing <br />that will damage the Project or cause the same to depreciate <br />in value. The Borrower recognizes that the Issuer shall <br />have no responsibility in these matters. <br />Section 10. Removal of Equipment. In any instance <br />where the Borrower i'n I s sound- discretion determines that <br />any item of Equipment has become inadequate, obsolete, worn <br />out, unsuitable, undesirable or unnecessary, the Borrower <br />may remove and dispose of such items of Equipment from the <br />site of the Project and sell, trade in, exchange or other- <br />wise dispose of them (as a whole or in part) without any <br />responsibility or accountability to the Issuer or the Trus- <br />tee therefor, provided that such removal or disposition will <br />-10- <br />I <br />
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