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satisfactory to the Bank. Any amount remaining after such <br />application will be applied first to a reduction of the amounts <br />owed to the Bank under the Reimbursement Agreement and then <br />shall be paid over to the Company. <br />(b) Prior to the time the Bonds secured by the Mortgage covering <br />such mortgaged property shall have been paid in full, and so <br />long as there is no fetter of Credit outstanding and no amounts <br />are owed to the Bank under the Reimbursement Agreement, all <br />condemnation proceeds shall be applied at the direction of the <br />Company, either to the redemption of Bonds oc to the <br />alteration, restoration or rebuilding of any part of the <br />mortgaged property which may have been altered, damaged or <br />destroyed as a result of any such taking or for any other <br />purpose or object satisfactory to the Trustee. <br />Transfer of Property <br />Except as specifically permitted in the Reimbursement Agreement, the <br />Company will be prohibited in each Mortgage from selling, conveying, <br />transferring, leasing or further encumbering any interest in or any part of <br />the property covered by such Mortgage without the prior written consent of the <br />Bank and, under certain circumstances, the Trustee. <br />D-12 <br />