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4 <br />C.The Project is expected to be completed not later than three (3) years after the date <br />to this Agreement. In the event (1) physical construction of the Project has not commenced <br />pursuant to a duly bid and awarded construction contract within six (6) months after the date to <br />this Agreement or (2) the Finance Authority, in its discretion, shall determine that construction of <br />the Project has been abandoned by the Participant, upon notice given to the Participant by the <br />Finance Authority, any further disbursement of Financial Assistance may be terminated. <br />D.The Participant will use the Financial Assistance and acquire, construct, and equip <br />the Project, in accordance with all applicable laws. The Participant will maintain and operate the <br />Project in accordance with the applicable laws. <br />E.The Participant will report to the Finance Authority on the Participant's expenditure <br />of the Financial Assistance and the status of the Project on the first day of January following the <br />date of this Agreement, and on the first day of every January thereafter until the Participant <br />expends all the Financial Assistance and completes the Project, whichever is later. At the time the <br />Participant completes the Project, the Participant will provide promptly to the Finance Authority <br />a final report (the “Final Report”). All reports to the Finance Authority will be in form and <br />substance satisfactory to the Finance Authority. <br />F.The Finance Authority and its agents, officers and employees will have ready <br />access at the Participant's offices to the Participant's agents, officers and employees, and its books <br />and records, at all reasonable times from the date of this Agreement to and including the third <br />anniversary of the day the Participant submits to the Finance Authority its Final Report. Upon the <br />Finance Authority's written request therefor, the Participant will promptly provide to the Finance <br />Authority, at no cost to the Finance Authority, certified copies of the Participant's books and <br />records or any portion thereof. <br />G.The Participant will own, operate, and maintain (in good condition) the Project for <br />its useful life (or cause it to be so operated and maintained). <br />H.The Participant will establish, adjust, and maintain rates and charges at levels <br />adequate to maintain sufficient revenues to operate and maintain (in good condition) the Project <br />and to repay all the Participant's indebtedness, including the Loan as evidenced by the Obligating <br />Instrument and the Authorizing Instrument. <br />I.Except as permitted by the Authorizing Instrument, the Participant will not incur <br />additional indebtedness on parity with the Obligating Instrument in connection with or related to <br />the Project, including any utility or other works to which the Project is a part, without the prior <br />written consent of the Finance Authority. <br />J.To the extent permitted by law, the Participant agrees to indemnify, defend and <br />hold harmless the Finance Authority and its agents, officers and employees from any and all claims <br />and actions of any nature arising out of this Agreement (or any action taken hereunder), the <br />Financial Assistance or the Project (or the planning, design, acquisition, construction or equipping <br />or operating of the Project), from all judgments or recoveries resulting therefrom and for all costs <br />in defending or appealing such claims or actions or judgments or recoveries, including court costs