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Section 3.6 Borrower Required to Pay Costs in Event Project Fund Insufficient. If money
in the Project Fund is not sufficient to pay all Project Costs, the Borrower, nonetheless, will complete the
Project in substantial accordance with the Plans and Specifications and shall pay all such additional Project
Costs from its own funds (or from other public or private financing sources available to the Borrower). The
Borrower shall pay all costs of issuing the Bonds. The Borrower shall not be entitled to any reimbursement
for any such additional Project Costs or payment of issuance costs from the Issuer, the Trustee or any
Holder, nor shall it be entitled to any abatement, diminution or postponement of the Loan Payments.
Section 3.7 Completion Date. The Borrower shall notify the Issuer and the Trustee of the
Completion Date by the delivery of a Completion Certificate signed by the Authorized Borrower
Representative substantially in the form attached hereto as EXHIBIT B. The Completion Certificate shall
be delivered as promptly as practicable after the occurrence of the events and conditions referred to in
paragraphs (a) through (d) of the Completion Certificate.
Section 3.8 Investment of Fund Money. At the written direction of the Borrower, any money
held as part of the Bond Fund, the Project Fund, the Collateral Fund, and the Rebate Fund shall be invested
or reinvested by the Trustee in Eligible Investments as provided in Sections 5.05 and 5.09 of the Indenture.
The Borrower covenants that it will restrict that investment and reinvestment and the use of the proceeds
of the Bonds in such manner and to such extent, if any, as may be necessary, after taking into account
reasonable expectations at the time of delivery of and payment for the Bonds or subsequent intentional acts,
so that the Bonds will not constitute arbitrage bonds under Section 148 of the Code. No provision of this
Loan Agreement shall be construed to impose upon the Trustee any obligation or responsibility for
compliance with arbitrage regulations.
The Borrower acknowledges that regulations of the Comptroller of the Currency grant the Borrower
the right to receive brokerage confirmations of security transactions as they occur. The Borrower
specifically waives such right to notification to the extent permitted by law and acknowledges that it will
receive periodic transaction statements that will detail all investment transactions.
The Borrower further acknowledges that values shall be determined in accordance with the price
provided by pricing services and sources relied upon by the Trustee, and the Trustee does not have any duty
to independently value any asset or an obligation other than the price provided by pricing services and
sources relied upon by the Trustee.
Section 3.9 Rebate Fund. The Borrower agrees to make such payments to the Trustee as are
required of it under Section 5.09 of the Indenture as well as the expenses of any Independent certified public
accounting firm or qualified rebate analyst engaged in accordance with said Section. The obligation of the
Borrower to make such payments shall remain in effect and be binding upon the Borrower notwithstanding
the release and discharge of the Indenture.
Section 3.10 Remarketing of Bonds. The Borrower is hereby granted the right to (a) request a
remarketing of the Bonds in the manner and to the extent set forth in Section 4.05 of the Indenture and
(b) in consultation with the Remarketing Agent, designate the length of the Remarketing Period and the
related Mandatory Tender Date in the manner and to the extent set forth in Sections 4.03 and 4.05 of the
Indenture.
ARTICLE IV
LOAN BY ISSUER; REPAYMENT OF THE LOAN; LOAN PAYMENTS
AND ADDITIONAL PAYMENTS
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