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provided herein. <br />The District may sell, lease or otherwise dispose of any <br />of the property comprising a substantial portion of the System in <br />the event that (a) such property is determined by resolution of the <br />Board, upon the recommendation of the general manager of the System <br />and the Consulting Engineers, to be no longer necessary or useful <br />or profitable for the System, and (b) the sale, lease or other <br />disposition of such property is determined by resolution of the <br />Board, upon recommendation of the general manager and the <br />Consulting Engineers, not to impair the ability of the District to <br />comply during the current or any future Fiscal Year with the rate <br />covenant set forth herein. <br />The proceeds derived from any sale, lease or other <br />disposition of a substantial portion of the System shall be used <br />for the retirement of outstanding Bonds. Any other proceeds <br />derived from the sale, lease or other disposition of a portion of <br />the System shall be placed in the Renewal and Replacement Fund; <br />provided, however, all or a portion of any such proceeds may be <br />used for the retirement of outstanding Bonds if authorized by <br />resolution of the Board upon the recommendation of the general <br />manager and the Consulting Engineers. The payment of such proceeds <br />into the Renewal and Replacement Fund shall not reduce the amounts <br />required to be paid into such fund by other provisions herein. <br />I. INSURANCE. For so long as any of the Bonds are <br />outstanding, the District will carry adequate fire and windstorm <br />insurance on all buildings and structures of the works and <br />properties of the System which are subject to loss through fire or <br />windstorm, will carry adequate public liability insurance, and will <br />otherwise carry insurance of all kinds and in the amounts normally <br />carried in the operation of similar facilities and properties in <br />Florida. Any such insurance shall be carried for the benefit of <br />the Registered Owners of the Bonds. All moneys received from <br />losses under any of such insurance, except public liability, are <br />hereby pledged by the District as security for the Bonds, until and <br />unless such proceeds are used to remedy the loss or damage for <br />which such proceeds are received, in such event such repairing the <br />property damaged or replacing the property destroyed shall be <br />commenced within a reasonable period after the receipt of such <br />•proceeds and shall proceed on a reasonable and continuous basis. <br />J. NO FREE SERVICE. The District will not render or <br />cause to be rendered any free use of any nature of the System, nor <br />will any preferential rates be established for users of the same <br />class. <br />K. ENFORCEMENT OF COLLECTIONS. The District will <br />diligently enforce and collect the special assessments, fees and <br />other charges for the use of the System, will take all steps, <br />actions and proceedings for the enforcement and collection thereof <br />19 <br />