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(b) It will cooperate with the Issuer in rna!;ino arrnnrie-
<br />ments for the sale <_,f tyle Bonds and shall he re-
<br />spoil,sible for co pliance wit:, all applic, ble securi-
<br />ties laws ill connection with the offering an,' sale
<br />thereof.
<br />(c) Contemporaneousl, with the delivory of the Ponds the
<br />Comn_anv will enter into the financing agreement and
<br />such other acireements and related documents as shall
<br />be rccessary or appropriate so that the Cor,pany will
<br />be q,bligated to operate, maintain and repair the
<br />Project at its own expense, to pay for the account
<br />of the Issuer sums sufficient in the aggregate to pay
<br />all of the principal of and interest and redemption
<br />pre;niums, it any, on the Ponds when and as the sawe
<br />shall becon-;e due and payable, and to pay all other
<br />costs incurred by the Issuer in connection with the
<br />financing, construction and administration of the
<br />Project, except as may be paid out of the Bond
<br />proceeds or otherwise.
<br />(d) It will take such further action and adopt such pro-
<br />ceedings as may be required to implement its under-
<br />takings hereunder.
<br />4. Genera'_ Provisions.
<br />(a) since it is anticipated that the accjuisition, con-
<br />struction, and equipping of the Project will comirence
<br />prior t0 the sale of the Bonds and the Company knows
<br />and acknowleckes that tlhe Is ::ler will. have no funds
<br />available to pay t,:e cost of the Project other t ha.:
<br />funds der lveG frons the -ci of the Bonds, the Cor pan y
<br />hark-•e<: to ��,, . ro;", ti ,o to Li,;:e all tunes necessary
<br />for "he acruisitior:, co:hwr.ructio . and equipping of the
<br />Proj :c't, and any slid, funds when so advanced shale be
<br />deeme6 funds advances. on behalf of the Issuer. To the
<br />extent that tha net proceeds derived frog,: the sale of
<br />tlhc Bonds ar,_ su-ficieni. for such purpose, the Issuer
<br />agrCBs to rei;t:burse the Com'>any from such net (=cee6s
<br />after the issuance of the Bonds for costs of the Pro-
<br />ject incurrad i y t'he Corc;pamy prior to the issuance of
<br />the ?onds (subject to any limitations iirposed by Sec-
<br />tio:: 1013(b) (6) of tho Internal Revenue Code of 1954, as
<br />amended) .
<br />(b) The Is .uer the Company ray enter into one
<br />or r..ore r.cjree:;,._•nt�; with a private lender or lendors
<br />to p Ovide te,::-Porary co:.struction financing and obtain
<br />co":::,it;e„ts for ; err:,a: c:a financiac; for the Project
<br />witihout vi.tiatin(; i.n an;Y :'anner the teri,is of this
<br />P.<iruer:ent,
<br />(c) The Issuer and the Co:;:>a:hy agree that the Co:r.pany shall
<br />act as independent contractor of the Issuer for the
<br />acquisition, equipping and completion of the Project,
<br />and that the Company shall provide all services in-
<br />cident to the acquis-Ition, construction and equipping
<br />of the Project, inciuc ing without limitation., the
<br />preparation of plans, specifications and contract
<br />documents, the award of contracts, the inspection .d
<br />SUPOrvision Of work; performed, the employment of engi-
<br />neers, architects, builders and other contractors
<br />and the provision of money to pal, the cost thereof
<br />pending reimbursement by the Issuer from the Bond
<br />proceeds, and that the Issuer shall have no responsi-
<br />bility for the provision of any such services but
<br />shall retain the richt to audit and inspect all doc.:-
<br />ments upon request.
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