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engineering counsel affecting the economical and efficient operation <br />of the Facilities and in connection with the making of capital <br />improvements and renewals and replacements of the Facilities. The <br />Issuer may, however, employ additional engineers at any time with <br />relation to specific engineering and operation problems arising in <br />connection with the Facilities. <br />The Issuer shall, at least every.two (2) years, cause to be <br />prepared by the Consulting Engineers a report or survey with respect <br />to the management of the properties thereof, the sufficiency of the <br />rates, and charges for services, the proper maintenance of the prop- <br />erties of the Facilities and the necessity for capital improvements <br />and recommendations therefor. Such a report or survey shall also <br />show any failure of the Issuer to perform or comply with the covenants <br />herein contained. <br />If any such report or survey of the Consulting Engineers <br />shall set forth that the provisions hereof or any reasonable recom- <br />mendations of such Consulting Engineers have not been complied with, <br />the Issuer shall immediately take such reasonable steps as are nec- <br />essary to comply with such requirements and recommendations. In <br />making such report or survey the Consulting Engineers shall accept <br />certified statements of the independent certified public accountants. <br />Copies of each report or survey shall be placed on file with the Is- <br />suer and shall be open to the inspection of any holder of obligations <br />or other interested parties. <br />During the period of construction of the project, the Con- <br />sulting Engineers shall determine that all phases of construction of <br />the project are being constructed pursuant to the plans and specifica- <br />tions, pian the progress of such construction, approve the form and <br />content of construction contracts signed -by the Issuer, including any <br />penalty payments required as a result of cion -performance, and the <br />performance and payment bonds required, arrange for proper permits, <br />clearance of other construction documents as may be necessary from <br />local, state or federal jurisdigtions, and approve expenditures from <br />the Construction Fund, as hereinafter provided. <br />-26- <br />NOV 21977 <br />BODS(J PAP 3- <br />I <br />