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2. Monitoring Private Business Use. <br />a. Prior to releasing Proceeds of Obligations for expenditure, analyze any <br />Private Business Use of Financed Facilities and, for each series of Obligations, determine <br />whether the 10% limit on Private Business Use (or 5% in the case of "unrelated or <br />disproportionate" Private Business Use) may be exceeded. <br />b. Before entering into any new management, service, or research <br />agreements described in Sections 2(d)(iii) and (iv), below, engage Bond Counsel to <br />review the agreements to determine whether they result in Private Business Use. <br />C. Analyze any Private Business Use of Financed Facilities to determine <br />whether the 5% or 10% limitation, as applicable, on Private Business Use of Proceeds is <br />exceeded. Contact Bond Counsel if this limit is exceeded. <br />d. Maintain copies of all of the following contracts or arrangements (or, if no <br />written contract exists, maintain detailed records of the following contracts or <br />arrangements) with a Private Person: <br />(i) Sales of Financed Facilities. <br />(ii) Leases of Financed Facilities. <br />(iii) Management or service contracts relating to Financed Facilities. <br />(iv) Research contracts under which a Private Person sponsors research <br />in Financed Facilities. <br />(v) Any other contracts involving "special legal entitlements" (such as <br />naming rights or exclusive provider arrangements) granted to a Private Person <br />with respect to Financed Facilities. <br />Each of the foregoing contracts or arrangements may result in Private Business <br />Use of the Financed Facilities. Consult with Bond Counsel to undertake any necessary <br />remedial actions, discussed below, in respect of "nonqualified bonds" of the Obligations. <br />PART II - REMEDIAL ACTION <br />I. Deliberate Action. A deliberate action ( "Deliberate Action") is any action taken after <br />the Issuance Date by the City that is within the City's control and that causes: <br />a. more than 5% or 10 %, as applicable, of the Proceeds to be used for a <br />Private Business Use (the "Private Business Use Limit "), and more than 5% or 10 %, as <br />applicable, of either the principal of or interest on the Obligations to be secured by or <br />derived, directly or indirectly, from Private Security or Payments (collectively with the <br />Private Business Use Limit, the "Private Business Limits "); or <br />9 <br />