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<br />moneys, sinking, hillol ,,lone. s or the procce(_Is received
<br />from the sale of released property-, in either of W licli
<br />events Snell moneys shalt he held and disposed of by t11e
<br />Trust Company in the same manner aid upon the same
<br />conditions as is provided ill Article VIII of this Indenture
<br />with respect to the proceeds of property- released here-
<br />under. 1N'heneyer the C'onlpany shall nve deposited
<br />sufficient funds for the full and final payin ilt or re(emp-
<br />tiou of A the underlying bowls at the time outstanding,
<br />Other than th(lse held by the Trust Company hereunder,
<br />or Avhenever till of the underlying boluls at the tilue out -
<br />standing 'shall have been doposited with the Trust Com-
<br />pally llereulalo,r, tile,, and in either step eyernt the Trust
<br />(,'onlpany shall cause the underlying bonds than held here -
<br />un(ler to Ile cancelled and delivered to the Company, and
<br />the Aligviny shall fortll\v-ith take such steps as shall be
<br />necessary to procure the release and satisfaction of the
<br />underi il,- lliortgap; if upon the final release and sat-
<br />isfaction of the underlying; mort'gage, there remain ally
<br />notes in the hands of the 'Trust Company not deliverable
<br />to the Corupaily under the preceding provisinus of this
<br />Section, such notes shall he added to the notes mentioned
<br />in Section 5 of thi, _Article, and ,hall be subjec-t to eertifi-
<br />cation anld delivery in like manner as the other notes Men -
<br />tiolled ill said Section.
<br />Sr :c. 5. '1'la, remaining Niue I li n lred fifty Thwl"and
<br />Dollars (.�95(Q)(0), par value, -1' smell notes ,hall he ul-
<br />thelticatc(t and delivered from title to time, to it prin-
<br />cipal amount not meecding eighty loom,ontuul of Ow aeWnl
<br />alld 1'eil,(llliltlle c-St Ilt tll't -In- lU'llt eStell�liwls, ('1da1'ge-
<br />nleuts and additions ac((uiml -r constructed l y the Com-
<br />pany subsequent to _Auanst 1, 1914, of and to the prop -
<br />��, t,r hereafter acquired by the C'omlpanY,
<br />19
<br />indudin any additional plant or distributing system
<br />constructed or acquired, but not ineludin,, the cost of (1)
<br />any ,hare• OF stock or howls or securities, or (`?) any
<br />inipr(_lyenlents or additions neee,sary for the proper
<br />maintenance of the property- covered by the lien of this
<br />Indenture.
<br />No notes shall be certified and delivered under this
<br />Section, save and except ml account of expenditure, for
<br />the construction of all artificial seas nlanufactuKuy; phult
<br />or plant,, or the (Wargeulcnt or extension of the Com-
<br />panyls vxi,4ill,_; artificial Fill manufacturing plants, Lm-
<br />less and until the earnin,,s of the Coulpany in PxN>s of
<br />Operating expenses (including, therein ta-Nes and other
<br />loy('1 Mien Nl ebtir es. lllsuralce, rentals and a reaSOIi-
<br />ahle expenditure or allowance for repairs reneNyals and
<br />uuaint(-!nance of its plarlts a,,d properties) for twelve eon -
<br />secntiye calendar months, ending, not mo] than sixty
<br />da }', prior to the application for ill(, certification ,ind
<br />dolivery of such notes, shall have been not less than one
<br />and -ne -half timi's the annual interest char,�'e upon (1)
<br />all notes_ then ontstandin under thin Tl(r�nture aid ti-se
<br />apldied for, and (`_') all other outstanding i.ndebteduess
<br />secured by a lie,, or lien, priol• to the lieu of this Tuden-
<br />ture union all or any part -f` the lnort'-'aged property, ex-
<br />clusive, h(_m-ever, of underlying bonds held by tile 'Trust
<br />Company under this Indenture, nr held by the Trastec
<br />llld(�r the lulderlying nlortga,'e in the sinking, fund pr()-
<br />yide( for 1(y such mortgage.
<br />The notes inelitioled and referred to ill this Section
<br />( 1) shall he certified and delivered only 111-11 the (eliy-
<br />ery to the Tru:,t Company of the following':
<br />( A ) A certified copy- of a resolution of the Board of
<br />Nrectors of the Company directing, the certific�ltiorn
<br />
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