2026-35 An Ordinance Authorizing the Issuance and Sale of Revenue Bonds (Millikin University), Series 2026A of the City of Decatur, Macon County, Illinois, in an Aggregate Principal Amount not to Exceed $18,000,000; Authorizing the Execution

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in order to determine whether the Borrower has complied with the provisions of this paragraph and such right of inspection shall survive the termination of this Loan Agreement. (c) The Borrower further agrees that it will not use the Financed Property, or permit the Financed Property to be used, in such manner as would result in the loss of any exemption from federal income taxation to which interest on the Series 2026A Bonds would otherwise be entitled, as more specifically described in the Tax Agreement. (d) The foregoing notwithstanding,the Borrower need not comply with any covenant set forth in this Section 2.09 if the Borrower delivers to the Trustee and the City an Opinion of Bond Counsel to the effect that such noncompliance will not adversely affect the validity of the Series 2026A Bonds or any exemption of the interest on the Series 2026A Bonds from federal income taxation under the Code. Section 2.10. Maintenance of Properties. The Borrower covenants at its own cost and expense to preserve and keep its properties in good repair and order, reasonable wear and tear excepted, and from time to time will make all repairs, replacements, renewals and additions necessary for the efficient functioning thereof. Section 2.11. Insurance Required. The Borrower agrees, at its own cost and expense, to maintain reasonable amounts of insurance coverage with respect to its properties by financially sound and reputable insurance companies or associations, in such forms and amounts and against such hazards as are reasonable for institutions of similar size and scope of activities. Each such policy evidencing such insurance shall name the City and the Trustee as additional insureds. Each such policy evidencing such insurance shall provide that such insurance shall not be altered or cancelled without 30 days' written notice to the City, Trustee and the Initial Purchaser Representative. The Borrower shall furnish certificates of insurance to the Trustee annually. If the Borrower shall fail to maintain the full insurance coverage required by this Loan Agreement, following ten (10) days' written notice of such failure to the Borrower from the City, Trustee or Initial Purchaser Representative, the Trustee or Initial Purchaser Representative may, but shall be under no obligation to,obtain the required policies of insurance and pay the premiums on the same, and all amounts advanced therefor by the Trustee or Initial Purchaser Representative shall become an additional obligation of the Borrower under this Loan Agreement to the Trustee or Initial Purchaser Representative, as applicable, which amounts the Borrower shall pay on demand. Section 2.12. Disposition of Property. Notwithstanding anything to the contrary herein, the Borrower shall not sell, assign, transfer, convey or otherwise dispose of, or create, incur, assume or permit to exist any lien or other encumbrance upon, any portion of the Trust Estate or the Mortgaged Property, without the consent of the Majority Holders, unless: (i) such property is obsolete, worn out or no longer useful; and (ii) no Event of Default exists, or would result from such disposition. The Parties acknowledge that as of the date hereof, there exists: -11-