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15 <br /> <br />Purchaser, and as will not, in the opinion of Bond Counsel, cause interest on the Project Bonds to <br />become includable in gross income for federal income tax purposes; <br />(b) that the acquisition, construction and installation of the property <br />comprising the Project has been accomplished in such a manner as to conform with all <br />applicable planning, building, environmental and other similar governmental regulations; <br />(c) that except as provided in subsection (d) of this Section, all costs of that <br />acquisition, construction and installation then or theretofore due and payable have been paid; <br />and <br />(d) the amounts which the Trustee shall retain in the Project Fund for the <br />payment of costs of the Project not yet due or for liabilities which the Borrower is contesting <br />or which otherwise should be retained and the reasons such amounts should be retained. <br />That certificate shall state that it is given without prejudice to any rights against third parties <br />which then exist or subsequently may come into being. The Authorized Borrower <br />Representative shall include with that certificate a statement specifically describing all items of <br />personal property comprising a part of the Project. The certificate shall be delivered as promptly <br />as practicable after the occurrence of the events and conditions referred to in subsections (a) <br />through (c) of this Section. <br />Section 3.7. Investment of Fund Moneys. At the written or oral request (promptly <br />confirmed in writing) of the Authorized Borrower Representative, any moneys held as part of <br />the Bond Fund (except moneys held in the Bond Fund from draws on the Letter of Credit, which <br />moneys shall be held in cash and not invested) or the Project Fund shall be invested or <br />reinvested by the Trustee in Eligible Investments. The Issuer and the Borrower each hereby <br />covenants that it will restrict that investment and reinvestment and the use of the proceeds of <br />the Project Bonds in such manner and to such extent, if any, as may be necessary, after taking <br />into account reasonable expectations at the time of delivery of and payment for the Project Bonds, <br />so that the Project Bonds will not constitute arbitrage bonds under Section 148 of the Code. <br />On the date of initial delivery of the Project Bonds, the Borrower shall provide <br />the Issuer with, and the Issuer may base its certifications on a certificate of the Borrower <br />for inclusion in the transcript of proceedings for the Project Bonds, setting forth the <br />reasonable expectations of the Borrower on such date regarding the amount and use of <br />the proceeds of the Project Bonds and the facts, estimates and circumstances on which <br />those expectations are based. <br />ARTICLE IV <br />LOAN BY ISSUER; REPAYMENT OF THE <br />LOAN; LOAN PAYMENTS AND ADDITIONAL <br />PAYMENTS <br />Section 4.1. Loan Repayment; Delivery of Notes and Letter of Credit. Upon the terms <br />and conditions of the Original Agreement as supplemented and amended by the First Amended <br />and Restated Agreement, the Second Amended and Restated Agreement and this Third Amended