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<br /> <br /> - 7 - <br />notice to, the registration with, or the taking of any other action in respect of, any federal, <br />state or other governmental authority or agency, not previously obtained or performed. <br /> This Agreement has been duly executed and delivered by Company and <br />constitutes the legal, valid and binding agreement of Company, enforceable against <br />Company in accordance with its terms, except as may be limited by bankruptcy, insolvency <br />or other similar laws affecting the enforcement of creditors’ rights in general. The <br />enforceability of this Agreement is subject to general principles of equity (regardless of <br />whether such enforceability is considered in a proceeding at law or in equity). <br /> No event has occurred and is continuing which with the lapse of time or the <br />giving of notice would constitute an event of default by the Company under the <br />Development Agreement or this Agreement. <br /> The Company reaffirms its representations and covenants made in the <br />Development Agreement. <br /> All representations, warranties and covenants and any obligations of <br />Company in this Agreement shall expire upon repayment of the Bonds. <br />(End of Article II)