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(b) Performance of Covenants, Authoritv and Actions. The <br /> Issuer will at all times faithfully observe and <br /> perform all agreements , covenants, undertakings, <br /> stipulations and provisions contained in the Bond <br /> Legislation, the Agreement, the Bond Purchase <br /> Agreement, the Indenture and the Bond, and required <br /> therein to be observed and performed by the Issuer. <br /> The Issuer warrants and covenants that it is , and upon <br /> delivery of the Bond will be, duly authorized by the <br /> Constitution and laws of the State, including <br /> particularly and without limitation the Enabling <br /> Ordinance, to issue the Bond, to execute the <br /> Indenture, the Bond Purchase Agreement, the Agreement <br /> and the assignment of the Note, and to provide the <br /> security for payment of the Bond Service Charges in <br /> the manner and to the extent herein and in the <br /> Indenture set forth; that all actions on its part for <br /> the issuance of the Bond and execution and delivery of <br /> the Indenture, the Bond Purchase Agreement, the <br /> Agreement and the assignment of the Note , have been or <br /> will be dulv and effectively taken; and that the Bond <br /> will be valid, binding and enforceable special <br /> obligations of the Issuer according to the terms <br /> thereof. Each provision of the Bond Legislation, <br /> Indenture , the Bond Purchase Agreement, the Agreement <br /> and the Bond is binding upon each such officer of the <br /> Issuer as may from time to time have the authority <br /> under law to take such actions as may be necessary to <br /> perform all or any part of the duties required by such <br /> provision; and each duty of the Issuer and o� its <br /> officers undertaken pursuant to such proceedings for <br /> the Bond is established as a duty of the Issuer and of <br /> each such officer having authority to perform such <br /> duty, specifically enjoined by law and resulting from <br /> an office, trust, or station. <br /> (c) Pledged Receipts. Except as otherwise provided in the <br /> Bond Legislation, Indenture, Bond Purchase Agreement, <br /> the Reimbursement Agreement, and Agreement, the Issuer <br /> will not make any pledge or assignment of or create <br /> any lien or encumbrance upon the Construction Fund, <br /> the Bond Fund, the Letter of Credit Fund or the <br /> Pledged Receipts, other than the pledge and assignment <br /> thereof under the Bond Legislation, Indenture and <br /> Agreement. <br /> (d) Recordings and Filings. The Issuer will cause all <br /> necessary financing statements, amendments thereto, <br /> continuation statements and instruments of similar <br /> character relating to the pledges and assignments made <br /> by the Issuer to secure the Bond, to be recorded or <br /> filed in such manner and in such place as and to the <br /> extent required by law in order to fully preserve and <br /> protect the securit�� of the Bondholder and the rights <br /> 17 <br />