1982-061 - Laserfiche WebLink

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Issuer from claims for bodily injury and death, and not less than $10,000 against claims for damage to property of others which may arise from the Issuer's operation of vehicles. All such insurance shall be carried for the benefit of the holders of the Bonds and the Notes. All money received by the Issuer by reason of insurance coverage, except liability coverage, shall be deposited to the credit of the }reserve Account and are hereby pledged by the Issuer as security for the Bonds and the Notes,, unt--d unless I annless such proceeds aro usedto remedy the loss or damage for which such proceeds are received, either by repairing the property damaged or replacing the property destroyed within 90 days from the receipt of such proceeds. The lien upon such proceeds in favor of the holders of the Bonds is junior, subordinate and inferior to the lien thereon of the holders of the Notes. (M) Maintenance of System. The Issuer will maintain the System in good condition and continuously operate the same in an efficient manner at a reasonable cost. (N) No Free Services. The Issuer will not render or cause to be rendered any free services of any nature by its System, nor will any preferential rates be established for users of the same class; and if the Issuer shall avail itself of the facilities or services provided by the System, or any part thereof, then the same rates, fees or charges applicable to other customers receiving like service under similar circumstances shall be charged to the Issuer. Such charges shall be paid as they accrue, and the Issuer shall transfer from its general funds sufficient sums to pay such charges. The revenues so received shall be deemed to be revenues derived from the operation of the System, and shall be deposited and accounted for in the same manner as other revenues derived from such operation of the System. (0) Failure of User to Pay for Services. Upon failure of any user of any product, services or facilities of the System to pay for the same within 60 days after the Issuer shall have billed such user therefor, the Issuer shall shut off the connec- tion of such user and shall not furnish him or permit him to receive from the System further service until. all obligations owed by him to the Issuer on account of services, including disconnection and reconnection charges, shall have been paid in full. This covenant shall not, however, prevent the Issuer from causing any System connection to be shut off sooner. (P) Enforcement of Collections. The Issuer will dili- gently enforce and collect the rates, fees, rentals and other -17-