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

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become effective until the following items have been submitted to the Trustee: (a) A copy of the said amendment as executed; (b) A certificate of the Borrower approving said amendment and stating that the Borrower is not in default under any of the provisions of this Loan Agreement; (c) A certificate of Borrower dated not more than sixty (60) days prior to the date of the release, stating that the part of such Mortgaged Property proposed to be released is not required for the Borrower's business operations; (d) Either (1) a deposit of an amount of money equal to the value of such Mortgaged Property as determined by an appraisal furnished to the Trustee and prepared by an appraiser satisfactory to the Trustee, which amount shall be placed by the Trustee in the Bond Fund; or (2) the Borrower may, in said amendment, subject to the lien of this Loan Agreement equipment of equivalent value and utility to the equipment to be released, the value of such equipment to be determined by an appraisal furnished to the Trustee and prepared by an appraiser satisfactory to the Trustee; (e) An opinion of Counsel stating that in his opinion all of the legal requirements necessary for such release have been met. If all of the conditions of this Section are met, the Trustee shall release any such part of the Mortgaged Property from the Indenture. No release effected under the provisions of this Section shall, except to the extent provided in subsection (d) hereof, entitle the Borrower to any abatement or diminution of the payments to be made hereunder. Section 3 .22 . Substitution of Mortgaged Property. The Borrower may from time to time substitute Mortgaged Property which constitutes equipment if the Mortgaged Property so substituted shall be of equivalent value and utility to that replaced. Any such substituted equipment shall be identified in writing by the Borrower to the Trustee and shall become a part of the Mortgaged Property and be included under the terms of this Loan Agreement, and the equipment for which substitution has been made shall become the property of the Borrower free and clear of any claims of the Issuer, the Trustee or the Bondholders therein or thereto. Section 3 .23 . Right of Access to the Facilities. Borrower agrees that the Issuer, the Trustee and their or either of their duly authorized agents shall have the right at all reasonable times during business hours, subject to Borrower's safety and security -26-