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ARTICLE V COVENANTS OF THE CITY Section 5.01. Punctual Payment. The City will punctually pay or cause to be paid (but only out of Revenues as herein provided) the principal and interest to become due in respect of the Note, in strict conformity with the terms of the Note and of this Resolution, and it will faithfully observe and perform all of the conditions, covenants and requirements of this Resolution and all Supplemental Resolutions and of the Note. Nothing herein contained shall prevent the City from making advances of its own moneys howsoever derived to any of the uses or purposes referred to herein. Section 5.02. Against Encumbrances. The City will not encumber, pledge or place any charge or lien upon any of the Revenues superior to or on a parity with the pledge and lien herein created for the benefit of the Note, except as permitted by this Resolution. Section 5.03. Preservation of Revenuesl Amendment of Agreement, Promissory Note and Deed of Trust. The City shall cause to be collected promptly all amounts due from the Participating Party under the Agreement and the Promissory Note as the same become due, and shall promptly and vigorously enforce all of its rights under the Agreement, the Promissory Note and the Deed of Trust. Without the written consent of the Bank the City shall not amend, modify or terminate, or agree or consent to amend, modify or terminate, the Agreement, the Promissory Note or the Deed of Trust; but, with the written consent of the Bank, the City may consent to amendments or modifications thereof. The Bank may give such written consent, and may itself take any such action or consent to an amendment or modification, only {i) if, in the opinion of the Bank such action or such amendments or modifications will not adversely affect the interests of the Bank or result in any impairment of the security hereby given for the payment of the Note, and (ii) such amendments or modifications will not have the effect of extending the time for payment or reducing the amount due and payable by the Participating Party pursuant to the Agreement and the Promissory Note. Section 5.04. Accountin9 Records and Reports. The Bank shall keep proper books of record and account in which complete and correct entries shall be made of all transactions relating to the receipt, disbursement, allocation and application of the Revenues and the proceeds of the Note. The Bank, on or before January 1 of each year, beginning january l, 1983, shall furnish to the City a complete financial statement covering receipts, disbursements, allocation and application of Revenues and Note proceeds for the twelve months ending on the preceding December 1. Section 5.05. Compliance with Resolution. The City shall not suffer or permit any default to occur under this Resolution, but shall faithfully observe and perform all the covenants, conditions and requirements hereof. 12