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the same shall become due, according to the tenor hereof and thereof,
<br />and the faithful performance of all the covenants and agreements •
<br />contained in said Bonds and in this Agreement, and in performance of
<br />the authority of every kind and nature which said Authority has or
<br />may have, has executed and delivered this Agreement and has pledged
<br />and assigned and by these presents does hereby pledge and assign unto
<br />First Interstate Bank of Northern Indiana, N.A., as Trustee and to
<br />its successors in said trust and to its assigns, the Lease (as
<br />hereinafter defined) and the Pledged Funds (as hereinafter defined)
<br />subject to the provisions of this Agreement requiring or permitting
<br />the application thereof for the purposes and on the terms set forth
<br />in this Agreement.
<br />The pledge herein made is and shall be subject to the provisions
<br />of this Agreement for the equal and proportionate benefit, security
<br />and protection of all holders of the Bonds issued or to be issued
<br />under and secured by this Agreement, without preference, priority or
<br />distinction as to lien or otherwise by reason of the date of maturity
<br />thereof, or for any other reason whatsoever, subject to the
<br />provisions of this Agreement.
<br />PROVIDED, HOWEVER, that if the Authority, its successors or its
<br />assigns, shall well and truly pay, or cause to be paid, the principal
<br />of the Bonds and the premium, if any, and the interest due or to
<br />become due thereon, at the times and in the manner as set forth in
<br />said Bonds in accordance with the terms hereof, and shall well and
<br />truly keep, perform and observe all covenants and conditions pursuant
<br />to the terms of this Agreement to be kept, performed and observed by •
<br />the Authority, and shall pay to the Trustee all sums of money due, or
<br />to become due to it, in accordance with the terms and provisions
<br />hereof, then this Agreement and the rights hereby granted shall
<br />cease, determine and be void, but otherwise, this Agreement shall
<br />remain in full force and effect.
<br />All Bonds issued and secured hereunder are to be issued,
<br />authenticated and delivered, and all property hereby pledged is to be
<br />dealt with and disposed of under, upon and subject to the terms,
<br />conditions, stipulations, covenants, agreements, trusts, uses and
<br />purposes as hereinafter expressed; and the Authority has agreed and
<br />covenanted, and does hereby agree and covenant, with the Trustee and
<br />with the respective owners, from time to time, of the said Bonds or
<br />any part thereof, as follows:
<br />ARTICLE I.
<br />Definitions
<br />Sec. 1.01. The terms: defined in this Article I shall, for all
<br />purposes of this Agreement, and any agreement supplemental hereto,
<br />have the meanings herein specified, unless the context otherwise
<br />•
<br />IV-4
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