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paid from available moneys in the Bond Fund after the deposit of moneys described above. For <br /> purposes of acquiring any investments hereunder, the Trustee may commingle funds held by it <br /> hereunder. The Trustee may act as principal or agent in the acquisition or disposition of any investment <br /> and may impose its customary charges therefor. The Trustee or its affiliates may act as sponsor, advisor <br /> or depository with respect to any Permitted Investment. To the extent that any Permitted Investment <br /> purchased by the Trustee are registrable securities such Permitted Investment shall be registered in the <br /> name of the Trustee. The Trustee shall incur no liability for losses arising from any investments made <br /> pursuant to the Indenture. <br /> Covenants <br /> Punctual Payment. The Authority shall punctually pay or cause to be paid the principal of and <br /> interest and premium (if any) on all the Bonds in strict conformity with the terms of the Bonds and of <br /> the Indenture, according to the true intent and meaning thereof, but only out of Revenues and other <br /> assets pledged for such payment as provided in the Indenture. <br /> Extension of Payment of Bonds. The Authority shall not directly or indirectly extend or assent to <br /> the extension of the maturity of any of the Bonds or the time of payment of any claims for interest by <br /> the purchase of such Bonds or by any other arrangement,and in case the maturity of any of the Bonds <br /> or the time of payment of any such claims for interest shall be extended, such Bonds or claims for <br /> interest shall not be entitled,in case of any default under the Indenture,to the benefits of the Indenture, <br /> except subject to the prior payment in full of the principal of all of the Bonds then Outstanding and of all <br /> claims for interest thereon which shall not have been so extended. Nothing in the Indenture shall be <br /> deemed to limit the right of the Authority to issue Bonds for the purpose of refunding any Outstanding <br /> Bonds,and such issuance shall not be deemed to constitute an extension of maturity of the Bonds. <br /> Against Encumbrances, The Authority shall not create, or permit the creation of, any pledge, <br /> lien, charge or other encumbrance upon the Revenues and other assets pledged or assigned under the <br /> Indenture while any of the Bonds are Outstanding, except the pledge and assignment created by the <br /> Indenture.Subject to this limitation,the Authority expressly reserves the right to enter into one or more <br /> other indentures for any of its corporate purposes, and reserves the right to issue other obligations for <br /> such purposes. <br /> Power to Issue Bonds and Make Pledge and Assignment. The Authority is duly authorized pursuant <br /> to law to issue the Bonds and to enter into the Indenture and to pledge and assign the Revenues and <br /> other assets purported to be pledged and assigned, respectively, under the Indenture in the manner <br /> and to the extent provided in the Indenture. The Bonds and the provisions of the Indenture are and will <br /> be the legal,valid and binding special obligations of the Authority in accordance with their terms, and <br /> the Authority and the Trustee shall at all times, subject to the provisions of the Indenture and to the <br /> extent permitted by law, defend, preserve and protect said pledge and assignment of Revenues and <br /> other assets and all the rights of the Bond Owners under the Indenture against all claims and demands <br /> of all persons whomsoever. <br /> Accounting Records. The Trustee shall at all times keep, or cause to be kept, proper books of <br /> record and account, prepared in accordance with industry standards, in which complete and accurate <br /> entries shall be made of all transactions made by it relating to the proceeds of Bonds, the Revenues, the <br /> Lease Agreements and all funds and accounts established pursuant to the Indenture. Such books of <br /> record and account shall be available for inspection by the Authority and the Members, during business <br /> hours and under reasonable circumstances. <br /> No Additional Obligations. The Authority covenants that no additional bonds, notes or other <br /> indebtedness shall be issued or incurred which are payable out of the Revenues in whole or in part. <br /> Tax Covenants <br /> (a)Private Business Use Limitation.The Authority shall assure that the proceeds of the <br /> Bonds are not used in a manner which would cause the Bonds to be "private activity bonds" <br /> within the meaning of section 141(a) of the Code. <br /> Appendix A <br /> Page 11 <br />