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<br />or related property installed or brought by the Corporation therein or thereon, or the Loan
<br />Agreement, the Indenture, the Mortgage or the interest of the Issuer, the Trustee, or the
<br />Bondholders therein. The Corporation may, at its expense, in good faith contest any such taxes,
<br />assessments, license fees and other governmental charges and, in the event of any such contest,
<br />may permit the taxes, assessments, license fees or other charges so contested to remain unpaid
<br />during the period of such contest and any appeal therefrom if the Corporation furnishes the Trustee
<br />with a bond or cash deposit equal to at least the amount so contested or with an opinion of
<br />Independent Counsel stating that by nonpayment of any such items, the Project Facilities or any
<br />part thereof, or the revenue therefrom, will not be subject to loss or forfeiture. The proceeds of the
<br />bond or the cash deposit may be used by the Trustee to satisfy the liens if action is taken to enforce
<br />the lien and such action is not stayed. The bond or cash deposit shall be returned to the Corporation
<br />if the lien is successfully contested. If the Corporation is unable or otherwise fails to obtain such a
<br />bond or provide such a cash deposit or such an opinion of Independent Counsel, the Corporation
<br />shall cause such taxes, assessments, license fees or charges to be paid promptly.
<br />Section 5.05 Alterations to Project Buildings. The Corporation shall have the privilege
<br />from time to time at its cost and expense, of remodeling and of making additions, modifications,
<br />alterations, improvements and changes (hereinafter collectively referred to as “alterations”) in or
<br />to the Project Buildings as it, in its discretion, may deem to be desirable for its uses and purposes,
<br />subject, however, to the following:
<br />(a) All alterations to the Project Buildings shall be located within the boundary
<br />lines of the Land and shall become a part of the Project Facilities, subject to the Mortgage;
<br />(b) The alterations shall not substantially impair the structural strength, utility
<br />or market value thereof or significantly alter the character or purpose or detract from the
<br />value or operating efficiency of the Project Facilities, and, in the event that the costs of
<br />such alterations shall exceed $750,000, the Corporation shall have delivered to the Trustee
<br />a Certificate of the Authorized Corporation Representative to such effect; and
<br />(c) The alterations shall not significantly impair the revenue producing capacity
<br />of the Project Facilities, and the Corporation shall have delivered to the Trustee a
<br />Certificate of the Authorized Corporation Representative to such effect.
<br />The Trustee shall require the Corporation to furnish an opinion of an Independent Engineer,
<br />at the expense of the Corporation, as to the effect of paragraph (b) if the alterations shall exceed
<br />$750,000 in the aggregate.
<br />All work in connection with any alterations shall be done promptly and in good
<br />workmanlike manner and in compliance with the building and zoning laws of the Issuer and other
<br />governmental subdivisions wherein the Project Facilities are situated, and with all laws,
<br />ordinances, orders, rules, regulations and requirements of all federal, state and municipal
<br />governments and the appropriate departments, commissions, boards and officers thereof, and shall
<br />not violate the provisions of any policy of insurance covering the Project Facilities; and the work
<br />shall be prosecuted with reasonable dispatch, unavoidable delays excepted.
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