2008-03-13 Resolution 165 - Laserfiche WebLink

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payable in advance in semiannual installments on February 1 and August 1 of each year in the amounts set forth at Schedule I attached hereto and incorporated herein. The semiannual installments may be reduced by the Lessee to the extent that the amount on deposit with the Trustee in the Excess Funds Account of the Operation and Reserve Fund of the Trust Agreement, when added to the amount on deposit in the Debt Service Reserve Fund of the Trust Agreement, is in excess of the amount necessary as of each August 1 to pay all lease rental payments payable in the 12-month period beginning on July 1 of the following calendar year. Such excess amount shall be deposited in the Sinking Fund of the Trust Agreement by the Trustee and the Lessee may reduce its next following semiannual lease rental installment by such excess amount. The last semiannual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the amount specified above for the applicable semiannual period prorated from the date such installment is due to the date of the expiration of this Lease (without taking into account any subsequent early termination of this Lease pursuant to Section 2 hereof). The Lessee will not take any action or fail to take any action that would result in the loss of the exclusion from gross income for federal tax purposes of interest on the Bonds pursuant to Section 103(a) of the Internal Revenue -Code of 1986, as amended (the "Code"), as in effect on the date of delivery of the Bonds, nor will the Lessee act in any manner which would adversely affect such exclusion. The Lessee further covenants that it will not make any investment or do any other act or thing during the period that any Bond is outstanding hereunder which would cause any Bond to bean "arbitrage bond" within the meaning of Section 148 of the Code and the regulations thereunder as in effect on the date of delivery of the Bonds. All officers, members, employees and agents of the Lessee are authorized and directed to provide certifications of facts and estimates that are material to the reasonable expectations of the Lessee as of the date the Bonds axe issued and to enter into covenants on behalf of the Lessee evidencing the Lessee's commitments made herein. 3. The Lease is further amended to provide that the schedule attached hereto as Schedule I shall similarly be attached to the Lease as Schedule I. 4. The parties hereto acknowledge that all remaining terms, covenants and conditions as set forth in the Lease shall remain in full force and effect. ****~ BDDBOI 5153675v1 - 2