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Hutchinson Utilities, Inc. <br />September 7, 1983 <br />Page Three <br />there shall be no material adverse change in your fin2ncial <br />condition; provided, however, if for any reason (other than that <br />which shall be the fault of the Issuer) the brands are not deli- <br />vered to the ,purchaser or purchasers thereof within one year from <br />the date hereof, then the provisions of this proposal and the <br />agreement resulting from its acceptance by you will be deemed <br />cancelled. In such event, or in the event of its earlier can- <br />cellation by agreement between you and the Issuer, neither party <br />shall, have any rights against the other and no third party shall <br />have any rights against either party except: <br />(a) You will pay to the Issuer the amount of all expen- <br />ses which shall have been incurred by the Issuer in connection. <br />with the Project, and any administrative fees of the Issuer in <br />reviewing and processing your brand issuance application. <br />(b) You will assume and be responsible for all <br />contracts entered into by the Issuer at your request in connec- <br />tion with the Project; and <br />(c) You will pay the out-of-pocket expenses of offi- <br />cials and representatives of the Issuer incurred in connection <br />with the Project and will pay counsel for the Issuer and the fir,n <br />of Freeman, Richardson, Watson & Kelly, P.A., bond counsel, legal <br />fees for legal services related to the Project or the financing <br />thereof. <br />G. The Issuer shall not be obligated to pay any of the <br />bonds or the interest thereon from any funds of the Issuer <br />derived from any source Cather than the Agreement and Note, or any <br />guaranty agreement by third parties, and in no event may the <br />taxing power or other revenues of the Issuer be pledged to pay <br />any of the bonds or the interest thereon. Each bond shall con- <br />tain a statement substantially to that effect upon its face. The <br />Issuer shall not be required to incur any expense with respect to <br />the Project or the bonds unless requested to do so by you, in <br />which event you hereby agree to reimburse the full amount of such <br />expense to the Issuer; and the Issuer may require payment to it <br />of such amount as a prerequisite to its incurring any such <br />expense. In accepting this proposal, you thereby agree to indem- <br />nify and defend the Issuer and hold the Issuer harmless against <br />any and all claims, losses, liabilities or damages to property or <br />any injury or death of any person or persons occurring in connec- <br />0 <br />