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1994-06-21 Minutes
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1994-06-21 Minutes
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such manner and in such places as may be required by law in order <br />to preserve and protect fully the security of the holders of the <br />Bonds and the Credit Facility Issuer and the rights of the Trustee <br />and the Credit Facility Issuer hereunder. <br />Section 715. Bond Register. The Trustee shall keep on <br />file at its Principal Office the Bond Register relating to the <br />Bonds indicating the names and addresses of the owners of the Bonds <br />and the serial numbers of such Bonds held by each of such owners. <br />At reasonable times and under reasonable regulations established <br />by the Trustee the Bond Register may be inspected and copied by the <br />Authority, the Trustee, the Tender Agent, the Credit Facility <br />Issuer, the Authority, the Remarketing Agent or the authorized <br />representative of any owner or owners of 150 or more in principal <br />amount of the Bonds then outstanding, such ownership and the <br />authority of any such designated representative to be evidenced to <br />the satisfaction of the Trustee. The Trustee may designate the <br />Tender Agent to serve as Registrar or designate a Co-Registrar by <br />a notice in writing delivered to the Authority and the Remarketing <br />Agent in which case the references herein to Trustee shall be <br />deemed to refer exclusively to the Tender Agent or to also refer <br />to such Co-Registrar, as the case may be. <br />ARTICLE VIII <br />• INSURANCE <br />Section 801. The Authority covenants that during the <br />construction of the Project, it will carry or will cause other <br />persons to carry for its benefit the following kinds of insurance: <br />(a) Builder's risk insurance in the amount of one <br />hundred percent (100%) of the insurable value of the Project <br />against physical loss or damage thereto, however caused, with such <br />exceptions as are ordinarily required by insurers of buildings or <br />facilities of a similar type. Such insurance shall be carried in <br />completed value form. <br />(b) Bodily injury and property damage insurance naming <br />the Authority as an insured against claims for damages for bodily <br />injury, including accidental death, as well as claims for property <br />damages which may arise from such construction. Such insurance <br />shall be carried for not less than the following limits of <br />liability for the policies indicated: <br />Combined bodily injury insurance, including accidental <br />death, and property damage insurance in an amount not less than One <br />Million Dollars ($1,000,000) on account of one occurrence; or, in <br />the alternative: <br /> <br />71 <br />
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