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13068487v2 20 ARTICLE V PROJECT FACILITIES Section 5.01 Use of Project Facilities. The Corporation will use the Project Facilities only in furtherance of its lawful purposes and will cause the Project Facilities to be used and operated as required by the Act or other applicable law. The Corporation will not use or permit any person to use the Project Facilities for any use or purpose in violation of the laws of the United States, the State of Minnesota, or any ordinance of the Issuer, and agrees to comply with all the orders, rules, regulations and requirements of the Board of Fire Underwriters and officers or boards of the City, Issuer or State or other governmental authority having jurisdiction over the Project Facilities. The Corporation shall have the right to contest by appropriate legal proceedings, without cost or expense to the Issuer, the validity of any law, ordinance, order, rule, regulation or requirement of the nature herein referred to. Section 5.02 Ownership, Maintenance and Possession of Project Facilities by Corporation. The Corporation agrees that so long as the Bonds are outstanding, the Corporation will own the Project Facilities and keep or cause to be kept the Project Facilities in good repair and good operating condition at its own cost, making such repairs and replacements as are necessary in the judgment of the Corporation. The Corporation represents that it has no present intention to sell, lease or otherwise dispose of the Project Facilities, other than to provide units to residents in the ordinary course of business. If the Corporation sells or otherwise disposes of the Project Facilities, other than to provide units to residents in the ordinary course of business, the Corporation will defease the Bonds. Section 5.03 Liens. The Corporation will pay or cause to be paid all utility charges and other charges arising from the operations at the Project Facilities which, if unpaid, would become a lien on the Project Facilities and will not permit any lien or encumbrance except Permitted Encumbrances to be established or to remain unsatisfied against the Project Facilities, including any mechanics’ liens; provided, that the Corporation may in good faith contest any mechanics’ or other liens filed or established against the Project Facilities, and in such event may permit the items so contested to remain undischarged and unsatisfied during the period of such contest and any appeal therefrom if the Corporation furnishes the Trustee with a bond or cash deposit equal to at least the amount so contested or with an opinion of Independent Counsel stating that, by nonpayment of any such items the Project Facilities or any part thereof will not be subject to loss or forfeiture. The proceeds of the bond or the cash deposit may be used by the Trustee to satisfy the liens if action is taken to enforce the lien and such action is not stayed. The bond or cash deposit shall be returned to the Corporation if the lien is successfully contested. If the corporation is unable to otherwise fails to obtain such a bond or provide such a cash deposit or such an opinion of Independent Counsel, the Corporation shall cause such unpaid items to be paid promptly. Section 5.04 Taxes and Other Governmental Charges. The Corporation will pay or cause to be paid, as the same respectively become due, any taxes, special assessments, license fees and governmental charges of any kind whatsoever that may at any time be lawfully assessed or levied against or with respect to the operations at the Project Facilities, or any improvements, equipment