60-18 Bond Financing for the Community Center Project

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ARTICLE III PARTICULAR COVENANTS OF THE ISSUER AND PUBLIC LIBRARY Section 3.1. Payment of Principal and Interest; Payment of Pledged Revenues. (a) In accordance with the Indenture, the Series 20_Bonds, if and when issued, shall be payable solely and only from Pledged Revenues as pledged by the Redevelopment Commission pursuant to the TIF Pledge Resolution. Under no circumstances shall the Public Library be liable for making any payments due under the Indenture or the Series 20 Bonds, including any payment of the principal of, premium, if any, or interest on any of the Series 20_ Bonds. (b) In accordance with the terms of the Indenture, the Redevelopment Commission, on behalf of the Issuer, shall transfer to the Trustee for deposit into the Bond Fund (as defined in the Indenture), on or before each February 1 and August 1 (or on such other dates and in such manner required by the TIF Pledge Resolution), the Pledged Revenues in an amount sufficient to pay the principal of and interest due on the Series 20_Bonds on the next February 1 or August 1 together with any Annual Fees as described and defined in the Indenture. (c) Under no circumstances shall the Public Library be liable for payment of any other costs or expenses under or in connection with this Financing Agreement or the transactions contemplated by this Financing Agreement, the Indenture or the Series 20_Bonds. Section 3.2. Public Library Not Responsible for Bond Payments. Notwithstanding anything in this Financing Agreement to the contrary, the Issuer acknowledges and agrees that the Public Library is in no way (i) guaranteeing or providing credit enhancement for or supporting financially or otherwise the issuance, sale or resale, offering or reoffering, or payment of the Bonds, or (ii) guaranteeing or providing credit enhancement for or supporting financially or otherwise the payment of the principal of or premium or interest on the Bonds (or any portion thereof). The Issuer further acknowledges and agrees that the Public Library will not indemnify, • defend or hold harmless the Issuer or any City Parties against any losses, liabilities, expenses (including attorneys' and other professionals' fees and expenses), claims and damages asserted against, resulting to, imposed upon or suffered by the Issuer or the City Parties or any of them to the extent arising from or attributable to the issuance, sale or resale, offering or reoffering, or payment of the Bonds. Section 3.3. Payment of Costs of Issuance of Bonds, Other Fees and Expenses. The Issuer shall pay from the proceeds of the sale of the Bonds, as necessary, the costs of issuance of the Bonds. The Public Library is not obligated to pay (except from the proceeds of the Bonds) any costs of issuance of the Bonds or any related costs, fees or expenses in connection with the issuance, sale or offering of the Bonds; nor is the Public Library obligated to pay any fees, charges or expenses in connection with or related to the Bonds after the Bonds have been issued, which fees, charges and expenses include financial advisory and/or accounting fees, charges and expenses, Trustee and other fiduciary fees and expenses and Issuer fees and expenses (including in each instance legal fees and expenses), all of which are obligations of the Issuer. 6