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and all covenants, undertakings, stipulations and provisions
<br />contained in each and every Bond issued hereunder, and will duly
<br />• and punctually pay or cause to be paid the principal of said Bonds
<br />and the premium, if any, and interest thereon, at the times and
<br />places, and in the manner mentioned in said Bonds, according to the
<br />true intent and meaning thereof. Except as in this Agreement
<br />otherwise provided, the principal, interest and premiums are
<br />payable soley from Pledged Funds including the rental derived from
<br />the Project, which Pledged Funds are hereby pledged to the payment
<br />thereof in the manner and to the extent provided in this Agreement
<br />and in said Bonds.
<br />Sec. 5.02. The Authority covenants that it will promptly
<br />make, execute and deliver all agreements supplemental hereto, or
<br />otherwise, and take all such action as may be reasonably be deemed,
<br />by the Trustee or by its counsel, necessary or advisable for the
<br />better securing of any Bonds issued hereunder, or as may be
<br />required, to carry out the purposes of this Agreement.
<br />Sec. 5.03. The Authority covenants that, except as to that
<br />part of the Project which may hereafter be acquired by it, the
<br />Authority has heretofore acquired the Project, subject only to
<br />Permitted Encumbrances, defined in the Lease, and such other
<br />encumbrances as shall be permitted by the Trustee, and has good
<br />right, full power and lawful authority to make this Agreement and
<br />to pledge the lease rentals of the Project as herein provided, and
<br />that it has and will preserve all of its interest in all such
<br />property, subject to Permitted Encumbrances, as such term is
<br />defined in the Lease, and such other encumbrances as shall be
<br />permitted by the Trustee, and will warrant and defend the same to
<br />the Trustee against the claims of all persons whatsoever.
<br />Sec. 5.04. The Authority covenants that it will promptly,
<br />and before they shall become delinquent, pay or cause to be paid
<br />all lawful taxes, charges and assessments at any time levied or
<br />assessed upon or against the Project, or any part thereof, or upon
<br />the use of the same, or upon the income or profits thereof, and all
<br />license fees, franchise taxes and other like statutory charges;
<br />provided, however, that no such tax, charge or assessment shall be
<br />required to be paid so long as the validity of the same shall be
<br />in good faith contested by the Authority; further, that it will not
<br />suffer any lien or charge to be enforced or to exist against the
<br />Project or any part thereof, or upon the Lease or the Pledged
<br />Funds, except the lien and charge of the Bonds secured hereby upon
<br />such Lease and Pledged Funds, and except for Permitted
<br />Encumbrances, as such term is defined in the Lease, and such other
<br />encumbrances as shall be permitted by the Trustee; that it will not
<br />commit or suffer any waste of said property; and that it will at
<br />all times, directly or through other appropriate governmental
<br />entities, operate the property and keep and maintain said property
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