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201103788
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201103788
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Last modified
5/25/2011 8:51:18 AM
Creation date
5/20/2011 8:35:53 AM
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DEEDS
Inst Number
201103788
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201103788 <br />ARTICLE IV <br />GENERAL COVENANTS <br />Section 4.01. The Corporation covenants that it will promptly pay the principal of <br />and interest on every bond issued under this Indenture at the place, on the dates and in the manner <br />provided herein and in said bonds according to the true intent and meaning hereof. Such principal <br />and interest are payable from revenues in the Bond Fund derived from the Payments required to be <br />made by the City under the Agreement. The Corporation covenants that it will take all steps <br />necessary to enforce its rights as seller and lessor and secure the observance of all of the City's <br />obligations as purchaser and lessee under the Agreement. The Corporation further covenants to <br />perform faithfully at a11 times any and all covenants, undertakings, stipulations and provisions <br />contained in this Indenture, and that the Corporation will do, execute, acknowledge and deliver or <br />cause to be done, executed, acknowledged and delivered such indentures supplemental hereto and <br />such further acts, instruments and transfers as the Trustee may reasonably require for the better <br />assuring, transferring, pledging, assigning and confirmfng unto the Trustee the property herein <br />descn`bed and the revenues (specifically, the Payments), income and all other property pledged <br />hereby to the payment of the principal of and interest on the bonds. <br />Section 4.02. The Trustee agrees that, so long as any bonds issued hereunder and <br />payable in accordance with and secured by this Indeaiture shall be outstanding and unpaid, it will <br />keep proper books of record and account in which full, true and correct entries will be made of all <br />dealings or transactions of and in relation to the Project and the Payments. The Trustee agrees to <br />furnish to the City and the Cor�ration an accounting annua.11y, and at such other times as either <br />ma.y reasonably request, pertaining to the dealings and transactions of the Trustee in relation to the <br />Payrnents and the Project. All books and records of the Trustee relating to the Payments and the <br />Project sha11 at all times be open to inspection by representatives of the City and the Cor�ration <br />and registered owners ofthe �nds. <br />Section 4,03. The Agreement sets forth the covenants and obligations of the <br />Corporation and the City and reference is hereby made to the same for detailed statement of the <br />respective obligations. The Corporation agrees that the Trustee in its name or in the name of the <br />Corporation may enforce all rights of the Corporation with respect to the Payments for and on <br />behalf of the Bondholders. The Corporation agrees to assist the Trustee and take any actions <br />reasonably requested by the Trustee to enforce the City's obligation to make the Payments. <br />Section 4.Q4. The Corporation covenants that, so long as any of the Refunding <br />Bonds are outstanding, it will not issue additional bonds under this Indenture. The Corporation <br />further agrees tha.t it, will not incur additional indebtedness payable from sources other than the <br />Payments without the written consent and approval ofthe City. <br />Section 4.05. The Corporation for the benefit of the Bondholders hereby <br />covenants, represents and warrants that that it has receiyed determination letters from the Internal <br />Revenue Service to the effect that it is a Tax-Exempt Organization, which letters are still in full <br />force and effect; that it is a T�-Exempt Organization and that so long as any of the Refunding <br />Bonds remain outstanding under this Indenture it will maintain its status as a Tax-Exempt <br />Organization. <br />18 <br />
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