8447-93 Authorizing Economic Development Revenue (P.A.I. Properties $450,000)

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ARTICLE III Particular Covenants of the Borrower Section 3 . 1. Consent to Assignments to Trustee. The Borrower acknowledges and consents to the pledges and assignments of the Series 1993 Note and the assignment of the Issuer's rights hereunder to the Trustee pursuant to the Indenture and agrees that the Trustee may enforce the rights, remedies and privileges granted to the Issuer hereunder other than the rights of the Issuer to decline to accept Additional Notes as set forth in Section 6. 1 and 6. 3 hereof, to receive payments under Section 3 . 14 and 3 . 19 hereof and to execute and deliver supplements and amendments to this Loan Agreement pursuant to Section 8. 1 hereof. Other than as set forth above the Series 1993 Note may not be assigned without the prior written consent of the Borrower. Section 3 . 2 . Payment of Principal, Premium and Interest; Payments Pledged. The Borrower will duly and punctually pay the principal of, premium, if any, and interest on the Notes at the rates and the places and in the manner mentioned in the Notes and in this Loan Agreement according to the true intent and meaning thereof and hereof. The Borrower covenants and agrees with and for the express benefit of the Issuer, the Trustee and the holders of the Bonds that all payments pursuant hereto and to the Notes shall be made by the Borrower on or before the date the same become due, and the Borrower shall perform all of its other obligations, covenants and agreements hereunder, to the extent permitted by law, without notice or demand (except as provided herein) , and without abatement, deduction, reduction, diminution, waiver, abrogation, set-off, counterclaim, recoupment, defense or other modification of any right of termination or cancellation arising from any circumstance whatsoever, whether now existing or hereafter arising, and regardless of any act of God, contingency, event or cause whatsoever, and irrespective (without limitation) of whether the Mortgaged Property or any part thereof is defective or nonexistent, or whether the Borrower's revenues are sufficient to make such payments, and notwithstanding any damage to, or loss, theft or destruction of, the Mortgaged Property or any part thereof, expiration of this Mortgage, any failure of consideration or frustration of purpose, the taking by eminent domain or otherwise of title to or of the right of temporary use of, all or any part of the Mortgaged Property, legal curtailment of the Borrower's use thereof, or whether with or without the approval of the Issuer, any change in the tax or other laws of the United States of America, the State of Indiana, or any political subdivision of either thereof, any change in the Issuer's legal organization or status, or any default of the Issuer hereunder, and regardless of the -14-