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0 <br />the books, records and accounts relating to the entire water and <br />sewer system of the County, including the System, to be audited by <br />a independent firm of certified public accountants. A copy of such <br />annual audits shall be furnished to any Registered Owner of the <br />Bonds who shall have requested in writing that a copy of such <br />audits be furnished him. <br />H. NO MORTGAGE OR SALE OF THE SYSTEM. The County will <br />not sell, mortgage, pledge or otherwise encumber the System or any <br />part hereof, or any Surcharges to be derived therefrom, except as <br />herein provided, and will not sell, lease or otherwise dispose of <br />any substantial portion of the System, except as provided herein. <br />The County 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 <br />System, who may be an employee of the County, and the Consulting <br />Engineers, to be no longer necessary or useful or profitable for <br />the System; and (b) the sale, lease or other disposition of such <br />property is determined by resolution of the Board, upon <br />recommendation of the general manager and the Consulting Engineers, <br />not to impair the ability of the County to comply during the <br />current or any future Fiscal Year with the rate covenant set forth <br />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 an appropriate fund of the County <br />relating to the renewal or replacement of the System or the water <br />and sewer system of the County in general; provided, however, all <br />or a portion of any such proceeds may be used for the retirement of <br />outstanding Bonds if authorized by resolution of the Board upon the <br />recommendation of the general manager and the Consulting Engineers. <br />I. INSURANCE. For so long as any of the Bonds are <br />outstanding, the County will carry adequate fire and windstorm <br />insurance on all buildings, structures other appropriate properties <br />of the System which are subject to loss through fire or windstorm, <br />will carry adequate public liability insurance, and will otherwise <br />carry insurance of all kinds and in the amounts normally carried in <br />the operation of similar facilities and properties in Florida. Any <br />such insurance shall be carried for the benefit of the Registered <br />Owners of the Bonds. All moneys received from losses under any of <br />such insurance, except public liability, are hereby pledged by the <br />County as security for the Bonds, until and unless such proceeds <br />are used to remedy the loss or damage for which such proceeds are <br />received, in such event such repairing the property damaged or <br />replacing the property destroyed shall be commenced within a <br />reasonable period after the receipt of such proceeds and shall <br />17 <br />