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

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1 certificate showing that the ratio of the fair market value of the Project immediately prior to the occurrence or discovery of such casualty loss, condemnation or loss of title to the principal amount of the Bonds then Outstanding is no greater than the ratio of the then fair market value of the Project to the principal amount of the Bonds to be Outstanding after the application of such , Net Proceeds and any other monies deposited in the Bond Fund by the Company for the rede- mption of Bonds. In the event such Net Proceeds do not exceed $25,000 or the Company shall elect Option A, (i) the Company shall complete the repair, reconstruction, restoration, replacement and improvement of the Project free from all liens other than Pernutted Encumbrances, whether or not such Net Proceeds are sufficient to pay for the same; (ii) the Company shall not be entitled to any reimbursement from the Issuer, the Assignee or the Bondholders or any abatement or diminution of its obligations hereunder by reason of any payments made by the Company for such purpose in excess of the Net Proceeds; and (iii) all such repairs, reconstructions, restorations, replacements and improvements shall be a part of the Project and shall be subject to the liens and security interest of the Mortgage and the Company shall take any actions which the Assignee reasonably deems necessary or appropriate to so subject them to the Mortgage. Section 5.7. Taxes. Assessments and Other Char�. The Company shall pay, on or before the due date, all taxes, assessments and charges of any kind whatsoever that may at any time be lawfully assessed or levied against or with respect to the Mortgaged Property, all utility and other charges incurred in the operation, maintenance, use, occupancy and upkeep of the Mortgaged Property and all assessments and charges lawfully made by any governmental body for public improvements that may be secured by a lien on the Mortgaged Property; provided that the Company, may, after giving notice thereof to the Assignee, at its expense, contest in good faith any such levy, tax, assessment or other charge and in such event may permit the amounts contested to remain undischarged and unsatisfied during the period of such contest and any appeal therefrom, unless the Assignee shall notify the Company that in the opinion of Counsel, by nonpayment of any such amounts, the lien or security interest of the Mortgage as to any substantial part of the Mortgaged Property may be materially endangered or the amounts or any part thereof may be subject to imminent loss or forfeiture, in which event the Company shall promptly pay or cause to be satisfied or discharged all such unpaid amounts or furnish, at the expense of the Company, security satisfactory to the Assignee. The Company shall furnish to the Assignee, upon request, proof of payment of taxes, governmental charges, utility charges, insurance premiums or other charges required to be paid by the Company under this Loan Agreement and the Mortgage. The Company will not create or permit to be created or remain, and will at its cost and expense promptly discharge all liens, encumbrances and charges on the Project or any part thereof, except for Permitted Encumbrances; provided that the Company may, after giving notice thereof to the Assignee, at its own expense and in its own name and behalf, contest in good faith any such lien, encumbrance or charge and in such event may permit the amounts so contested to remain undischarged and unsatisfied during the period of such contest and any appeal therefrom unless the Assignee shall notify the Company that in the opinion of Counsel, by nonpayment of 32