R99-187 AUTHORIZING THE ISSUANCE AND SALE OF ECONOMIC DEVELOPMENT REVENUE BONDS

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(hereinafter refened to as "condemnation") or in connection with a deficiency or non-existence of the Company's title thereto or the lien or priority of the Mortgage (hereinafter referred to as a "loss of title"). � The Company shall notify the Assignee immediately in the case of damage to or ', destruction of the Project or any portion thereof resulting from fire or other casualty (hereinafter ', i referred to as a"casualty loss") or of a condemnation or loss of title. !i In the event of a casualty loss, a condemnation or a loss of title for which the Net I' Proceeds do not exceed $25,000, the Company forthwith will repair, reconstruct, restore, replace ' and improve the Project to substantially the same or any improved condition or utility value as '' � existed prior to such casualty loss or forthwith make such replacement of or repairs or improvements to the Project or portions thereof made necessary by such condemnation or loss of title. Such Net Proceeds shall be deposited in the Project Fund and applied to the extent necessary , to the payment of the costs of such repair, reconstruction, restoration, replacement and improvement. Any remaining balance not required for such purpose shall be paid to the Assignee for deposit in the Bond Fund. If such Net Proceeds exceed $25,000, such Net Proceeds shall be paid to the Assignee for disbursement as hereinafter described and the Company shall elect one of the following options by , written notice delivered to the Assignee and the Issuer within sixty (60) days of the determination of the amount of such Net Proceeds or within one hundred eighty (180) days of the occunence of such casualty loss, condemnation or loss of title, whichever occurs first: (a) Option A - Repairs and Improvements. If no Event of Default under this Loan Agreement shall then be existing and continuing, the Company may elect to use such Net Proceeds to repair, reconstruct, restore, replace and improve the Project and, in such event, such Net Proceeds shall be deposited in the Project Fund and, so long as no Event of Default under this Loan Agreement exists, shall be disbursed from time to time by the Assignee in the manner and upon receipt of the documents described in Section 4.3 of this Loan Agreement. Upon the completion of such use, any remaining balance not required for such repair, reconstruction, restoration, replacement and improvement shall be deposited in the Bond Fund and held by the Paying Agent for the benefit of all Bondholders. (b) �tion B - Redemption of Bonds. The Company may elect to have such Net Proceeds deposited in the Bond Fund provided, either (i) the Company elects to prepay, in whole or in part, the Notes pursuant to Section 9.1 and any similar provisions in Supplemental Loan Agreements respecting Additional Notes and cause all of the Bonds to be redeemed pursuant to the Bond Resolution or in any supplemental resolutions authorizing Additional Bonds at the earliest practical date, or (ii) the Company elects to prepay the Notes in whole pursuant to Section 9.2 of this Loan Agreement or in any Supplemental Loan Agreements respecting Additional Notes and cause part of the Bonds to be redeemed pursuant to the Bond Resolution and any supplemental resolutions authorizing Additional Bonds and the property suffering such casualty loss, condemnation or loss of title was not essential to the use of the Project as an "industrial project" as defined in the Act, and provided further that an Independent expert appraiser acceptable to the Assignee delivers to the Assignee its written opinion, appraisal or 31