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The Bonds are limited obligations of the City, payable <br />solely from payments of principal, premium, if any, and interest <br />made by the User pursuant to the Loan Agreement, except to the extent <br />that the principal of, premium, if any, and interest on the Bonds may <br />be paid out of money attributable to Bond proceeds or from temporary <br />investments, or from other moneys, if any, accruing to the Trustee <br />for the benefit of the bondholders. The Loan Agreement shall equally <br />and ratably secure all outstanding Bonds, except that so long as <br />there is no event of default under the Agreement, payments by the <br />User shall be used by the Trustee to make like payment of principal <br />of, or premium or interest on, the Bonds. <br />By the Indenture, the City will assign to the Trustee the <br />City's rights under the Agreement, including the right of the City <br />to receive payments thereunder, all as security for the payment of <br />the Bonds. The Bonds will be secured as provided in the Agreement, <br />Indenture and Guaranty and the terms of said instruments are adopted <br />herein by reference and by approval of the instruments. <br />The Loan Agreement and documents executed thereunder will con- <br />stitute the sole security for the Bonds. The Bonds and the interest <br />thereon shall be a valid claim of the respective holders only against <br />the Bond Fund created under the Indenture and other moneys held by <br />the Trustee. The City will have no ownership interest in the Project. <br />The Bonds do not and shall never constitute an indebtedness <br />of, or a charge against the general credit or taxing power of the <br />City. <br />Section 6. Additional Bonds: The City may authorize the <br />issuance of Additional Bonds upon the terms and conditions provided <br />in the Indenture and the Agreement. All Additional Bonds shall be <br />of the same rank as the original Bonds, but shall bear such date <br />or dates, bear such interest rate or rates, have such maturity dates, <br />redemption dates and redemption premiums, and be issued at such <br />prices as shall be approved in writing by the City and the User. <br />-5- <br />