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<br />RESOLUTION NO. 83-7-IDA <br />Page Four <br /> <br />12. Loan Agreement. The Authority shall, on or <br />prior to the date of sale of the Bonds to the initial <br />purchasers, authorize or direct the execution, by the <br />appropriate officers of the Authority, of the Loan Agreement <br />between the Authority and the Company. The Loan Agreement <br />shall (1) provide the loan of Bond proceeds by the Authority <br />to the Company, (2) provide for repayment of such loan by the <br />Company to the Trustee at times and in amounts sufficient to <br />pay debt service on the Bonds as it becomes due, (3) provide <br />for mandatory or optional prepayment under such other <br />circumstances and in such manner as shall correspond to any <br />respective provisions of the Supplemental Resolution for <br />mandatory or optional redemption of the Bonds, (4) require the <br />Company to execute, deliver and record the Deed of Trust, (5) <br />state the unconditional and absolute nature of the Company's <br />obligations thereunder, (6) specify insurance requirements, <br />and (7) contain such other necessary or desirable terms and <br />provisions as may be appropriate to the financing. <br /> <br />13. Supplemental Resolution. The Authority shall <br />approve a Supplemental Resolution on or before the date of <br />sale of the Bonds to the initial purchasers, providing the <br />form of the Bonds and such additional terms and provisions of <br />the Bonds as the Authority shall deem advisable and which are <br />not inconsistent with the provision hereof. Such terms and <br />provisions may include, but are not limited to, any of the <br />following: <br /> <br />1. <br /> <br />provisions for the transfer and exchange of <br />Bonds; <br /> <br />2. provisions for the establishment and <br />application of funds for the allocation of <br />revenues derived from the Project; <br /> <br />3. provisions for the investment of funds held by <br />the Trustee; <br /> <br />4. provisions with respect to the exemption of <br />interest on the Bonds from federal or State of <br />California income taxation; <br /> <br />5. <br /> <br />provisions for the amendment of this Resolution <br />or the Supplemental Resolution with or without <br />the consent of the holders of the Bonds; <br /> <br />6. <br /> <br />provisions with respect to the rights and <br />obligations of the Trustee and any paying <br />agents; <br /> <br />7. Definition of events of default and provisions <br />for acceleration and other remedies in any such <br />event of default; and <br /> <br />8. <br /> <br />Such other necessary and desirable terms and <br />provisions as may be appropriate to the <br />financing. <br /> <br />~ <br /> <br />J <br /> <br />..., <br /> <br />J <br /> <br />~ <br />