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WHEREAS, the Authority represents that all acts and proceedings required by <br /> law necessary to make the Bonds, when executed by the Authority, authenticated and <br /> delivered by the Trustee and duly issued, the valid, binding and legal limited obligations of <br /> the Authority, and to constitute this Indenture a valid and binding agreement for the uses and <br /> purposes herein set forth in accordance with its terms, have been done and taken, and the <br /> execution and delivery of the Indenture have been in all respects duly authorized; <br /> NOW, THEREFORE, THIS INDENTURE WITNESSETH, that in order to <br /> secure the payment of the principal of and the interest on all Bonds at any time issued and <br /> outstanding under this Indenture, according to their tenor, and to secure the performance and <br /> observance of all the covenants and conditions therein and herein set forth, and to declare the <br /> terms and conditions upon and subject to which the Bonds are to be issued and received, and <br /> in consideration of the premises and of the mutual covenants herein contained and of the <br /> purchase and acceptance of the Bonds by the owners thereof, and for other valuable <br /> consideration, the receipt whereof is hereby acknowledged, the Authority does hereby <br /> covenant and agree with the Trustee, for the benefit of the respective owners from time to <br /> time of the Bonds, as follows: <br /> • <br /> LAI-63221.5 2 <br />