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exgersse of additional title insurance~~~~rF~~® in the amaunt of proceeds of such bonds of other series attributable to the ~ac~uisition of additional land and acquisition ox` c:ossstr~ction of improve- ments nn 3.and oovered'or to be covered:: ~y the ;•sartgage and any supplements there+~o . ~. The issuance of. such bends of other series will in all respects comply with the act, the provisions of the Mortgage anal all federal laws and requirements and' the issuance of such- bonds of other series shall in no manner affect. adversely the: exemption of interest on the bonds-then outstanding fmm federal income tax:. f. The average annual Net Earnings of the Company, plus the amount deducted or provided for federal and state income taxes in arriving at the-Net Earnings, when averaged. for any two of the last three completed fiscal years: pzor to Ilse issuance of such bonds of other series, shall be not less than tyro times the combined average Frncgal and Inter- est 12er3uireme is an the bonds then out- standing under the Mortgage (but exclud- ing principal anal interest requirements on bonds to be retired from the proceeds of such bonds of other series) and the bonds of other series graposed to be issued pl;~s the. average-annual debt .service (principal and interest} require- menu on a3;1 other Funded. Debt of the Company during the periods used.. for computing such average-. g. The aggregate grincipal amount of the Funded Uebt of the CompanyP including Fundet3 Debt arising bSr reason of the issuance of the:. proposed bonds of other series, shall not exceed the sum of the Net Worth of the Company glue- Subordi- nated Debt of the Company. For purposes:. of subsections' f axzd g above>, the terms °Func~ed Debt", °Net Wortki"' and "Subordinated Deb t'° shall have rite ,same. meanings as such teams are defined in Section l~.li(d? of the E'irst Amendment-to Lease and agreement. Section lo> The County 2sereby elects that the. pea- visions caf Section 203 {b~ {~~ (D} of ttse Internal l2evensue Code s,tal apg3y to flee Series. B: Bonds. ARTICLE IIi iteder.,l~ticr, of Series B s3onds Before Maturity Section ~, Sub;ect to the eoric?itzon ttaat if and? Ser.ie.~ B Soars are redeemed gricr tc? maturity, Scrie~ 1# Sor,~'s tY.~~t outsta~tcs;_n~ s :a l? be cencu-renzl,y redeemed an- a gra r3c~ }a::sis bc3se~3 up:psi rite :~crc-eq~te prnci;^a~ amutaztt L~,~ S~w~.'+.3:i :=~ LiCr;1 a 8i ( Je~Y IE?°, ~ »---73"f ~J~ `_r1¢n t^L:iC.~Lu ,i ..1'Y~> ..ly-