86-064 Ordinance - Laserfiche WebLink

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i. (c) Pledged Receipts. Except as otherwise provided in the Bond Legislation, Indenture, Bond Purchase Aqreement and Agreement, tne Issuer will not make any pledqe or assiqnment ot or create any lien or encumbrance upon trie Project Fund, the Bond Fund, the Reserve Fund or the Pledged Receipts, other than the pledge and assignment thereor under the Bond Legislation, Indenture and Aqreement. (d) Recordings and Filings. The Issuer will cause all necessary financing statements, amendments thereto, continuation statements and instruments of similar character relating to the pledges and assignments made by the Issuer to secure the Bonds, to be recorded or tiled in such manner and in such places as and to the extent required by law in order to fully preserve and protect the security of the Bondholders and the riqhts of the Trustee under the Indenture; and in pursuance hereof the Borrowers have covenanted to cause to be delivered to the Trustee certain opinions of counsel, all as set forth in the Agreement. (e) Inspection of Project Books. All books and documents in the Issuer's possession relating to the Project or to the Pledged Receipts shall at all reasonable times be open to inspection by such employees, accountants or other aqents of the Trustee as the Trustee may from time to time designate. (t) Maintenance of Agreement. The Issuer shall do all tnings and take all actions on its part necessary to comply with the obligations, duties and responsi- bilities on the part of the Issuer under the Agreement, and will take all actions within its authority to maintain the Aqreement in effect in accordance with the terms thereof and to enforce and protect the rights of the Issuer thereunder, including actions at law and in equity, as may be appropriate. (g) Rights under Agreement. The Trustee, in its name or in the name of the Issuer, may, for and on behalf of the Bondholders, enforce all rights of the Issuer and all obligations of the Borrowers under and pursuant to the Agreement, whether or not the Issuer is in default of the pursuit or enforcement of such rights and obligations. (h) Arbitrage Provisions. The Issuer will restrict the use of the proceeds of the Bonds in such manner and to such extent, if any, as may be necessary, so that they will not constitute arbitrage bonds under Section 103(c) of the Code and the applicable regulations prescribed under that section. The Executive, Fiscal Otficer or any other officer navinq responsibility -19-