Laserfiche WebLink
from the sale of the Bonds in accordance with subparagraph (b) below. <br />In connection with the issuance of the Bonds, the Borrower shall not be <br />required to submit plans and specifications for the Projects to the <br />Issuer for approval. Nothing herein shall be construed as an approval <br />by the Issuer of any plans and specifications or as a waiver of any right <br />of the Issuer with respect thereto or estoppel by the Issuer from <br />asserting any rights or responsibilities it may have in that regard. <br />(b) Costs and expenses for which the Borrower may claim <br />reimbursement from the net proceeds derived from the sale of the <br />Bonds, include, but are not limited to, costs and expenses related to the <br />preparation of plans and specifications for the Projects, the acquisition, <br />construction, renovation and equipping of the Projects and all <br />components thereof, architectural, engineering and supervisory <br />services used with respect to the Projects, acceptance fees of any trusts <br />established in connection with the issuance and sale of the Bonds, <br />legal, accounting and financial advisory fees and expenses, <br />underwriting fees, costs of retiring indebtedness, the proceeds of which <br />financed costs of acquisition, construction, renovation and equipping of <br />the Projects or portions thereof, including any swap termination fees <br />due with respect thereto, filing fees and printing and engraving costs <br />incurred in connection with the authorization, sale and issuance of the <br />Bonds, the execution and filing of a trust agreement, if any, to be <br />hereafter executed by the Issuer and a trustee to be named therein, <br />and such other agreements as may be required by the initial purchaser <br />or purchasers of the Bonds, fees, costs and expenses disbursed or <br />incurred in connection with or related to this Memorandum of <br />Agreement, and the Bonds, the acquisition, construction, renovation <br />and equipping of the Projects, labor, services and materials used or <br />furnished in site improvement for the site of the Projects, and the <br />equipping of the Projects, and all other fees and expenses disbursed or <br />incurred by the Borrower in connection with the Projects or the Bonds <br />and properly allowable under the Act and the Internal Revenue Code <br />of 1986, as amended (the "Code"). All such costs shall be reimbursed to <br />the Borrower in accordance with the terms of the Act and the Code. <br />(c) If the net proceeds derived from the sale of the Bonds <br />shall be less than the cost of the Projects, the Borrower agrees to <br />complete the Projects at the Borrower's expense. The Borrower shall <br />be entitled to reimbursement from the Issuer for such cost overruns <br />only to the extent of the net proceeds received from the sale of such <br />additional bonds as the Issuer, in its sole discretion, may authorize, <br />sell and deliver. The Issuer does not make any warranty, either <br />expressed or implied, that the funds derived from the sale of the Bonds <br />will be sufficient to pay all of the costs incurred in connection with the <br />4 <br />