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Assumption Compliance Agreement to the Issuer and the Qualified Empowerment Zone prior to <br />the Transfer. <br />(b) Except - as provided in Sections 3(f) hereof, the covenants contained in this <br />Compliance Agreement shall bind, and the benefits shall inure to, respectively, the Owner and its <br />successors and assigns and all subsequent owners of the Project or any interest therein, and the <br />Issuer and the Qualified Empowerment Zone and their successors and assigns, until the <br />termination of this Compliance Agreement as provided in Section 3 herein. <br />(c) The Owner hereby declares its understanding and intent that the burden of the <br />covenants set forth herein touch and concern the land in that the Owner's legal interest in the <br />Project is rendered less valuable thereby. The Owner hereby further declares its..uriderstanding <br />and intent that the benefit of such covenants touch and concern the land by furthering the public, <br />purposes for which the Bonds were issued. Notwithstanding the foregoing or any other <br />provision of this Compliance Agreement, no person, other than the parties hereto and any <br />intended beneficiaries identified in Section 13(f) hereof, shall have any rights of enforcement of <br />this Compliance Agreement. <br />Section 12. Certification to Secretary. The Owner (or other Principal User) represents, <br />covenants and warrants that it shall submit to the Secretary any certification the Secretary shall <br />prescribe to meet the requirements of Section 1394 of the Code. The Owner shall <br />simultaneously send copies of such certifications to the Issuer and the Qualified Empowerment <br />Zone (or any Compliance Agent). The Owner acknowledges that failure to file such <br />certification shall subject the Owner to any penalties provided by the Secretary. <br />Section 13. Enforcement. <br />(a) Upon the receipt of reasonable notice, the Owner shall permit any duly authorized <br />representative of the Issuer and the Qualified Empowerment Zone (or any Compliance Agent) to <br />inspect any books and records of the Owner regarding the Project and compliance with the <br />provisions of this Compliance Agreement and Section 1394 of the Code and the Treasury <br />Regulations. <br />(b) The Owner agrees to pay all actual and reasonable costs and expenses of the <br />Issuer and the Qualified Empowerment Zone (or any Compliance Agent) in connection with any <br />actions taken pursuant to this Compliance Agreement. <br />(c) In addition to all information provided for elsewhere in this Compliance <br />Agreement, the Owner shall submit any other information, documents or certifications requested <br />by the Issuer and the Qualified Empowerment Zone (or any Compliance Agent) which the <br />Issuer or the Qualified Empowerment Zone (or any Compliance Agent) deem reasonably <br />necessary to substantiate the Owner's continuing compliance with the provisions of this <br />Compliance Agreement and Section 1394 of the Code and the Treasury Regulations. <br />(d) The Issuer, the Qualified Empowerment Zone and the Owner each covenants that <br />it will not knowingly take or permit any action that it knows would adversely affect the exclusion <br />from gross income for federal income tax purposes of interest on the Bonds. Moreover, the <br />Issuer, the Qualified Empowerment Zone and the Owner each covenants and agrees to cooperate <br />06-4514.05 9 <br />