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

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dates are outstanding, any such income designated for application to the payment of the installments of the Notes shall be ratably applied and credited to such installments in proportion to the amounts thereof. The Issuer and the Borrower covenant that they will not, and will not cause the Trustee to, make any investment or do any other act or thing during the period that any Bonds are outstanding under the Indenture which would cause any of the Bonds to become or be classified as arbitrage bonds or federally guaranteed obligations within the meaning of Sections 148 and 149 (b) , respectively, of the Code and the regulations thereunder now or hereafter proposed or published in the Federal Register or as promulgated in final form. It is further understood and agreed that the Trustee shall not be required at any time to make any such investment or to do any such act. Section 3 . 18. Other Amounts Payable by the Borrower. The Borrower agrees to pay directly to the Trustee from time to time as long as there are Bonds outstanding (i) an amount equal to the annual fee of the Trustee for the ordinary services of the Trustee, as trustee, rendered and its ordinary expenses, including reasonable attorney' s fees, incurred under the Indenture, as and when the same becomes due, (ii) the reasonable fees, charges and expenses of the Trustee, as Bond Registrar and paying agent, and any other paying agent on the Bonds for acting as paying agent as provided in the Indenture, as and when the same become due, (iii) the reasonable fees, charges and expenses of the Trustee for the necessary extraordinary services rendered by it and extraordinary expenses incurred by it under the Indenture, as and when the same become due. Notwithstanding anything in this Section 3 . 18 to the contrary, the Borrower may, without creating an event of default as herein defined, contest in good faith the necessity for any such services, fees, charges or expenses of the Issuer or the Trustee. Section 3 . 19. Credits on Notes. Notwithstanding any provision contained in this Loan Agreement or in the Indenture to the contrary, in addition to any credits on the Notes resulting from the payment or prepayment thereof from other sources: (a) any moneys deposited by the Trustee in the Bond Fund for payment on the Notes shall be credited against the obligation of the Borrower to pay the principal of, premium, if any, and interest on, the Notes as the same become due; and (b) the principal amount of Bonds of any series and maturity acquired or prepaid in whole or in part by the Borrower and delivered to the Trustee, or acquired or prepaid in whole or in part by the Trustee and cancelled, shall be credited against the obligation of the Borrower to pay the principal of the Note evidencing the loan made by the Issuer with the proceeds of the sale of Bonds of such series maturity on the and maturity. -23-