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

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Section 3 . 20. Completion of Project. (a) Borrower agrees that: (i) It will make, execute, acknowledge and deliver any contracts, orders, receipts, writings and instructions with any other persons, firms or corporations and in general do all things which may be requisite or proper, all for acquiring, installing and completing the Project, to the extent permitted by law. (ii) It will cause the Facilities to be acquired, constructed and installed. (iii) It will, upon completion of the acquisition, construction and installation of the Facilities, furnish to the Trustee final lien waivers from all contractors or suppliers who have furnished material or labor for the Project. Borrower agrees to acquire, install and construct the Facilities with all reasonable dispatch; and to use its best efforts to cause the Project to be completed by 1 or as soon thereafter as may be practicable, delays incident to force majeure only excepted; but if for any reason such acquisition, installation and construction is not completed by said date there shall be no resulting liability on the part of Borrower and no diminution in or postponement of the payments required to be paid by Borrower under this Loan Agreement or the Series 1993 Note. In the event the moneys in the Construction Fund (including moneys from the proceeds of any Additional Bonds sold to finance completion of the Project) should not be sufficient to pay in full the costs to be paid therefrom, the Borrower agrees, for the benefit of the Issuer and in order to fulfill the purposes of the Act, to complete the acquisition, installation and construction of the Project and to pay that portion of the costs therefor as may be in excess of the moneys available therefor in the Construction Fund. The Issuer does not make any warranty, either express or implied, that the moneys, which will be paid into the Construction Fund and which under the provisions of this Loan Agreement will be available for payment of the costs of the acquisition, installation and construction of the Project, will be sufficient to pay all the costs which will be incurred in that connection. The Borrower agrees that if after exhaustion of the moneys in the Construction Fund the Borrower should pay pursuant hereto any portion of the said costs of the acquisition, installation and construction, it shall not be entitled to any reimbursement therefor from the Issuer, the Trustee or the holders of any of the Bonds, nor shall it be entitled to any diminution in or abatement or postponement of the amounts payable hereunder or under the Series 1993 Note. (b) Issuer has, in the Indenture, authorized and directed Trustee to make payments from the Construction Fund to pay the Costs -24-