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200906255 Trustee as provided in the Indenture. Payments of additional rent specified in Section 2.2 hereof shall be made to Lessor by Lessee remitting the same directly to the respective payees for the account of the Lessor. hereunder. Section 15. Lessee may at any time prepay all or any part of the basic rent provided for ARTT("I.F. TTT ISSUANCE AND SALE OF BONDS Section 3.1. Lessor shall issue and sell, as and when determined appropriate by mutual agreement of Lessor and Lessee, after the execution and delivery of this Lease - Purchase Agreement, its Building Bonds in one or more series in the aggregate principal amount of not to exceed Twelve Million Two Hundred Thousand Dollars ($12,200,000) which shall be sold to the Underwriter for such price as set forth in the Indenture, plus accrued interest (if any) to date of delivery and payment. The terms and conditions of said Bonds are or shall be as specified in the Indenture, and Lessee, by execution and delivery of the Addendum, does approve and consent to the issuance of Bonds by Lessor as provided in said Indenture. Section 3.2. Upon receipt of the proceeds of the sale of the Building Bonds, Lessor shall promptly pay such proceeds, including the full amount of any accrued interest, if any, received upon such sale, to the Trustee with all accrued interest being deposited to the Bond Fund and the net principal proceeds to be deposited to the Construction and Acquisition Fund and applied for the payment of costs of the Corporation's acquiring the Project as provided in Article IV hereof and Article VI of the Indenture, including expenses related to the issuance of the Building Bonds. Section 3.3. Lessor shall cause the Trustee to invest and reinvest the money from time to time in the Bond Fund and Construction and Acquisition Fund in the manner and to the extent and with such application of the income therefrom as provided in the Indenture. Section 3.4. Additional bonds, including Completion Bonds, may be issued by Lessor from time to time as provided in the Indenture upon the execution and delivery of an Addendum by Lessee relating to the issuance of such Additional Bonds and the change is basic rentals payable hereunder, if any. ARTICLE IV CONSTRUCTION AND ACQUISITION OF PROJECT Section 4.1. Lessor hereby agrees to construct and acquire the Project. The proceeds of the Bonds are to be deposited in the Construction and Acquisition Fund under the terms of the Indenture. The Project shall be constructed and acquired in accordance with the requirements of the Lessee, including plans and specifications prepared by the Project Architect. In contracting for the construction of the Project, the Lessee agrees to act as agent for the Lessor and any contract now or hereafter entered into by the Lessee, in its own name or otherwise, for the construction of the Project is hereby agreed to be a contract entered into for and on behalf of the Lessor. The Lessee hereby agrees to provide any and all additional amounts required to be paid into the Construction and Acquisition Fund in order to effect the payment in full for all costs of construction and acquisition the Project by the Corporation incurred by Lessee as agent or by the Corporation in excess of the amounts deposited to and available in the Construction and Acquisition Fund. The Lessee hereby designates its College Area President as Project Manager and its College Business Officer as Alternate Project Manager. Monies in the Construction and Acquisition Fund shall be expended to pay costs 5