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amount of the'Pro3ect Bonds allocated in accordance with Section 144(a)(10)(C) of the Code to such bene- ficiary and (ii) the aggregate outstanding principal amount of any other tax-exempt obligations described in Section 144(a)(10)(B)(ii) of' the Code, wherever and whenever issued, allocated to such beneficiary does not exceed $40,000,000. (n) Less than 25~ of the proceeds of the Origi- nal Bonds were used directly or indirectly to acquire land or any interest therein, and none of the proceeds of the Original Bonds was used to provide land the use of which is for farming purposes. (o) No portion of the proceeds of the Original Bonds was used to acquire existing property or any interest therein unless such acquisition met the rehabilitation requirements of Section 147(d) of the Code. (p) The information furnished by the Company and used by the Issuer in preparing the arbitrage certifi- cation pursuant to Section 103 of the Internal Revenue Code of 1954 and the federal tax election pursuant to Section 103(b)(6)(D) of the Internal Revenue Code of 1954 was accurate and complete as of the date of issu- ance of the Original Bonds and the information used in preparing the certification pursuant to Section 148 of the Code and the information statement pursuant to Section 149(e) of the Code with respect to the Pro3ect Bonds, both referred to in the Bond Legislation for the Pro3ect Bonds, and used as a basis for making the federal tax election pursuant to Section 144(a)(4) of the Code in the Bond Legislation for the Pro3ect Bonds, is accurate and complete as of the date of the issuance of the Pro3ect Bonds. (q) In connection with any lease or grant by the Company of the use of the Pro3ect, the Company shall require that the lessee or user of any portion of the Pro3ect shall not use that portion of the Pro3ect in any manner which would violate the covenants set forth in subsections (3) and (k) above. (3) Section 2.3. Actions under Section 144(a)(4) of the Codo. The Company acknowledges that the Issuer is issuing the Pro3ect Bonds and the Issuer issued the Original Bonds pursuant to elections made by it, a~ the Company's request, under Section 144(a)(4) of the Code (or its s~atu~ory predecessor). In connection with those elections, the Company represents and covenants that: - 13 -