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for federal income tax purposes, and (ii) will not take or require to be taken any actions that to <br /> the Issuer's knowledge would adversely affect that exclusion under the provisions of the Code. <br /> Section 10.02. Observance and Performance of Covenants, Agreements, Authority and <br /> Actions. The Issuer will observe and perform at all times all covenants, agreements, authority, <br /> actions, undertakings, stipulations and provisions to be observed or performed on its part under <br /> the Agreement, this Indenture, the Bond Resolution, the Regulatory Agreement and the Bonds <br /> which are executed, authenticated and delivered under this Indenture, and under all proceedings <br /> of the Issuer pertaining thereto. <br /> The Issuer represents and warrants that <br /> (a) It is duly authorized by the Constitution and laws of the State, including <br /> particularly and without limitation the Act, to issue the Bonds, to execute and deliver this <br /> Indenture, the Agreement and the Regulatory Agreement and to provide the security for <br /> payment of the Bond Service Charges in the manner and to the extent set forth in this <br /> Indenture. <br /> (b) All actions required on its part to be performed for the issuance, sale and <br /> delivery of the Bonds and for the execution and delivery of this Indenture and the <br /> Agreement have been taken duly and effectively, as advised by Bond Counsel. <br /> (c) The Bonds will be valid and enforceable special obligations of the Issuer <br /> according to their terms. <br /> Section 10.03. Enforcement of Issuer's Obligations. Each obligation of the Issuer <br /> required to be undertaken pursuant to the Bond Resolution, this Indenture, the Agreement, the <br /> Regulatory Agreement and the Bonds is binding upon the Issuer, and upon each officer or <br /> employee thereof as may have from time to time the authority under law to take any action on <br /> behalf of the Issuer which may be necessary to perform all or any part of that obligation, as a <br /> duty of the Issuer and of each of those officers and employees resulting from an office, trust, or <br /> station, providing for enforcement by writ of mandamus. <br /> (End of Article X) <br /> -62 - <br />