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(iv) The City shall file with the Authority and the Trustee an amended Exhibit B <br /> to this Lease Agreement which adds thereto a description of such Substitute Facility and <br /> deletes therefrom the description of the Former Facility; <br /> (v) The City shall certify in writing to the Authority and the Trustee that such <br /> Substitute Site and/or Substitute Facility serve the purposes of the City, constitutes <br /> property that is unencumbered (or the portion of such property to be to substituted is <br /> unencumbered),subject to Permitted Encumbrances,and constitutes property which the <br /> City is permitted to lease under the laws of the State; <br /> (vi) The City delivers to the Trustee and the Authority evidence that the <br /> Substitute Site and/or Substitute Facility (or the portions to be to substituted), together <br /> with the portions of the Site and/or Facility not to be substituted,are of equal or greater <br /> value than the then Outstanding principal component of Bonds allocable to the City; <br /> (vii) The Substitute Site and/or Substitute Facility shall not cause the City to <br /> violate any of its covenants,representations and warranties made herein; <br /> (viii) The City shall obtain an amendment to the title insurance policy required <br /> pursuant to Section 5.6 hereof which adds thereto a description of the Substitute Site <br /> and deletes therefrom the description of the Former Site; <br /> (ix) The City shall certify that the Substitute Site and/or the Substitute Facility is <br /> of the same or greater essentially to the City as was the Former Site and/or the Former <br /> Facility;and <br /> (x) The City shall obtain the prior written consent of the Municipal Bond Insurer <br /> of such substitution and notice of such consent shall be given by the City to any rating <br /> agency then rating the Bonds. <br /> Notwithstanding the foregoing and with no conditions precedent thereto, the City shall, <br /> within 60 days of the Closing Date, take all action necessary to substitute the Site and the <br /> Facility with (1) the City Maintenance Yard, located at 8071 Page Street, Buena Park, and the <br /> site thereof, and (2) Fire Station#61, located at 8081 Western Avenue, Buena Park, and the site <br /> thereof. <br /> (b)Release of Site. The City shall have, and is hereby granted,the option at any time and <br /> from time to time during the Term of the Lease Agreement to release any portion of the Site, <br /> provided that the City shall satisfy all of the following requirements which are hereby declared <br /> to be conditions precedent to such release: <br /> (i) The City shall file with the Authority and the Trustee an amended Exhibit A <br /> to the Site and Facility Lease which describes the Site,as revised by such release; <br /> (ii) The City shall file with the Authority and the Trustee an amended Exhibit A <br /> to this Lease Agreement which describes the Site, as revised by such release; <br /> (iii) The City delivers to the Trustee and the Authority evidence that the Site, as <br /> revised by such release, together with the Facility, has a total at least equal to the <br /> portion of the Bonds then outstanding which are allocable to the City; <br /> (iv) The City shall obtain an amendment to the title insurance policy required <br /> pursuant to Section 5.6 hereof which describes the Site,as revised by such release;and <br /> -19- <br />