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1. Punctually pay the interest on and the principal of and redemption premiums, if any, <br /> to become due on every Bond issued hereunder in strict conformity with the terms hereof and the <br /> Bonds, and faithfully observe and perform all the agreements and covenants contained in the Indenture <br /> and the Bonds; <br /> 2. Not make any pledge or place any charge or lien upon the Leased Property or any part <br /> thereof or upon the Revenues, except as permitted by the Indenture, and will not issue any bonds, notes <br /> or obligations payable from the Revenues or secured by a pledge or charge or lien upon the Revenues <br /> except the Bonds; <br /> 3. Not sell, or otherwise dispose of, or cause or permit to be sold or otherwise disposed <br /> of, any part of the Leased Property essential to its proper use or to the maintenance of Revenues, nor <br /> enter into any agreement which impairs the use of the Leased Property or any part thereof necessary to <br /> secure adequate Revenues for the me a.p y nt of interest on <br /> and principal of and redemption premiums, if <br /> any, on the Bonds, or which would otherwise impair the rights of Owners with respect to the Revenues <br /> or the use of the IPased Property. es <br /> Any real or personal property constituting <br /> P tYpart <br /> Property and the which hasLeased <br /> become nonoperative or which is not needed for the efficient <br /> Leased Property, or proper use ofe reof <br /> the <br /> p ty, which has become <br /> if such sale will not reduce the Revenues and if the neut may t proceeds of such salee sold at not less are treea the rted as ket Revenues <br /> and applied as provided in the Indenture; <br /> 4. Not use or permit the use of any proceeds of the Bonds or any funds of the Authority, <br /> direct or indirectly, to acquire any securities or obligations, and shall not take any or permit to be taken <br /> any other action or actions, which would cause any Bonds to be an "arbitrage bond" within the meaning <br /> of Section 149(b) Code or "federally guaranteed" within the meaning of the Code and any such <br /> applicable regulations promulgated from time to time thereunder and under Section 103(c)of the <br /> Internal Revenue Code of 1954, as amended. The Authority shall observe and not violate the <br /> requirements of Section 148 of the Code and any such applicable regulations. The Authority shall <br /> comply with all requirements of Section 148 and 149(b)of the Code to the extent applicable to the <br /> Bonds; <br /> 5. Comply with the provisions and procedures of the Tax Certificate; <br /> 6. Not use or permit the use of any proceeds of the Bonds or any funds of the Authority, <br /> directly or indirectly, in any manner, and shall not take or omit to take any action, that would cause <br /> any of the Bonds to be treated as the obligation not described in Section 103(a) of the Code. <br /> 7. Cause the City to, within fifteen (15) days of the receipt of any Net Proceeds, instruct <br /> the Trustee, through a Written Request of the City, as to what portion, if any, of such proceeds are to <br /> be used to redeem Bonds pursuant to the Indenture; <br /> 8. Keep proper books of record and account in which complete and correct entries shall <br /> be made of all transactions relating to the receipts, disbursements, allocation and application of the <br /> Revenues, and such books shall be available for inspection by the Trustee or the Bond Insurer, at <br /> reasonable hours and under reasonable conditions. Not more than four months after the close of each <br /> Authority Fiscal Year, the Authority shall furnish or caused to be furnished to the Trustee and the Bond <br /> Insurer a complete financial statement covering receipts, disbursements, allocation and application of <br /> Revenues for such Fiscal Year, including a profit and loss statement and balance sheet. The Authority <br /> shall also keep or cause to be kept such other information as is required under the Tax Certificate; <br /> 9. Supply to the Trustee as soon as practicable after the beginning of each City Fiscal <br /> Year, but in no event later than December 31 in each City Fiscal Year, a certificate of the City <br /> certifying that the City has made adequate provision in its annual budget for such City Fiscal Year for <br /> A-13 <br />