1983-102 - Laserfiche WebLink

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~f .!efault ~f any contractor or subcontractor under any contract ::ia,:..! •JY i-:. for acquisition, construction or equipment of any ?art Ji the ~roject, the Dorrower will promptly oroceed (subject t~ ~ha :ru~tde's advice to the contrary), either separately or in conJunction with others, to exhaust the remedies of the Borrower •l':Jul:-ist the contractor or subcontractor so in default a nd against hi~ ~urc~y. if any, for the performance of such contract. The 3on:-owcl'." ,.,ill advise t~1e Trustee of the steps it intends to take i.n .::onnection with any such default. Any amounts recovered by way of J,1::1,'l•Jc?s, refunds, adjustments O"." otherwise in connection with ~he e~reyojng shall be paid into the Project Fund. Section 3. 6 Comol.etion of the Pi::-oject, Promptly upon -::,,m,1!,?tion of the Project, the Authorized Borrower Representative ~hall ~xccutc and deliver to the Trustee a certificate stating tJ,at (,1) ,1.cquisition, oonstruction and equipment of the Project hils !)~~n ...:~;-;ipleted in accordance with the Plans and Specifications, (b) ~ll Labor, services, materials, equipment, machinery and supplies in connection with such construction, acquisition and insc1LL1tion i1ave been paid, (c) all facilities necessary in con- necti.)n with the Project have been constructed, acquired and Lnsc~Llcd and all costs and expenses incurre d in connection t:-iet'•~with ilolve been paid, and (d) the Equipment has been acquired an.J 1:-ist ~lled to the satisfaction of the Borrower, and all costs anJ aX?enses incurred in the acquisition and installation of the ~~uir~enc lnd such other machinery, equip~ent or other personal pr.:i9,~rty ivwe been paid. Notwithstanding the foregoing, such cer- tif lc ~ta shall state that it is given without prejudice to any ri~hts 3Jainst any contractor or other person not a party to this ,\qr•Je::ienc ...-hich exist at the date of such certificate or which may suosc•-1uently come into being. The Issuer aml the Borrower '-"ill cooperolte one with the other in causing such certificate to be fur:iisheJ to the Trustee, Upon the delivery of the certificate to the Trustee, the 'I'cu1atee .sha.11 transfer all money remaining in the Proj e ct E'uncl to t.he ilcuc~ption 1\ccount in the Donel Funtl, to b e used to purchase or ceJecm 8on1s at their earliest possible date in accordance with Section 4.5 of the Indenture. Until used, such fund s shall not be i.nve~c~l ilt a yield exceeding the yield on the Oonds. -18-