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<br />Al~TIC:LE x~T <br />PARTIAL RELEASE t3F LA:dD AND <br />GRANTING OF EASEME23TS <br />Section 15,1 If no default under this Lease Agreement <br />shall have happened and be continuing, Lessee may, with the approval <br />of the Authority at ar.1 time or times (a) grant easements, licenses, <br />rights of way (including the dedication. of public highways) and <br />- other rights or privileges in the nature of easements with respect <br />to any property included in the Project free from any rights of the <br />P.uthority or the bondholders or the "_'rustee, or (b} release existing <br />easements, licenses, rights of way, and other rights or privileges, <br />all with or without consideration. and upon such terms and conditions <br />as Lessee and Region III shall determine, and the Authority agrees <br />that i*_ will execute and deliver and wi?_1 cause and direct the <br />Trustee to execute and deliver any instrument necessary or appropriate <br />to confirm and grant or release any such easement, license, right <br />of way or other right nr privilege or any such agreement or other <br />arrangement, upon receipt by the Authority and the Trustee of: (i) <br />a copy of the instrument of grant or release or of the agreement <br />or other arrangement; (ii) a written application signed by an <br />officer of Lessee requesting such instrument; and (iii} a <br />certified copy of a Resolution of the Board of Directors of <br />Lessee finding and determining that the grant or release wil3 <br />not impair the effective use or interfere with the efficient <br />and economical operation of the Project and will not materially <br />adversely affect the security of the bondholders; (iv} a certi- <br />fied copy of a Resolution of the Executive Board of _°.egion III, <br />also finding and determining that the grant or release will not <br />impair the effective use or interfere with the efficient and <br />economical operation of the Project and will not materially <br />adversely affect the security of the bondholders. P.ny such <br />easement or right shall be superior to the rights of the '~.uthority <br />under this Lease Agreement and shall not be affected by any <br />termination of this Lease Agreement or default on the part of <br />-33- <br />