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1991-11-15 Resolution 46
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1991-11-15 Resolution 46
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levy a tax to pay the rental provided in said Lease, or take such <br />other action to enforce the Lease as is reasonably requested by the <br />• Trustee, if such rental is more than sixty (60) days in .default. <br />The Authority covenants that it will not agree to any <br />modification of the terms of said Lease which would substantially <br />impair. or .reduce the security of the holders of the Bonds described <br />herein or agree to a termination thereof, or agree to a reduction <br />of the lease- rental provided for therein which would inhibit <br />payment of debt service on the Bonds until all indebtedness secured- <br />by this Agreement is fully paid, except upon compliance with the <br />provisions of Sec. 10.02. The Authority further covenants that any <br />modification permitted by this paragraph will be made only after <br />a copy thereof has been filed with the Trustee. <br />Sec. 5.12. The Authority covenants that whenever there are <br />sufficient funds held by the Trustee in the Sinking Fund and/or <br />Operation and Reserve Fund to pay the principal, redemption <br />premiums and interest to the next interest payment date on all <br />outstanding. Bonds, it will call all outstanding Bonds for <br />redemption and hereby consents and directs the Trustee to call all <br />outstanding Bonds for redemption. <br />p,RTICi,E VI. <br />Insurance <br />Sec. 6.01. The Authority covenants that it will carry or <br />• cause to be carried: <br />(a) Insurance on the Facility against physical loss or <br />damage thereto, however caused, with such exceptions as are <br />ordinarily required by insurers of buildings or facilities of <br />a similar type,-which insurance shall be in an amount equal <br />to one hundred percent (1000 of the full replacement cost of <br />the Facility as .certified by a registered architect, a <br />registered engineer, or a professional appraisal ....engineer <br />selected by the. Authority with the approval of the Trustee, <br />on the effective date of such insurance and on or before <br />April 1 of each year thereafter (such appraisal may be based <br />on a recognized index of conversion factors); and <br />(b) Rent or rental value insurance in an amount equal <br />to the full rental value of the Facility for a period of two <br />(2) years against physical loss or damage of the type insured <br />against under Sec. 6.01(a) above. <br />Sec. 6.02. Such insurance policies shall be maintained in <br />good and responsible insurance companies satisfactory to the <br />Trustee, and shall be countersigned by an agent of the insurer who <br />is a resident of the State of Indiana. A copy of such policies, <br />. 19 <br />
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