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WHEREAS, the Participant has determined to undertake a drinking water system project <br />(as more fully described herein, the "Project") and to borrow money from the Drinking Water <br />SRF Program to construct and acquire the Project; and <br />WHEREAS, the Finance Authority and the Participant desire to set forth the terms of <br />such financial assistance as hereinafter provided. <br />NOW THEREFORE, in consideration of the mutual covenants herein set forth, the <br />Finance Authority and the Participant agree as follows: <br />ARTICLE I <br />DEFINITIONS <br />Section 1.01. Definitions. The following terms shall, for all purposes of this <br />Agreement, have the following meaning: <br />"A enc "shall mean the United States Environmental Protection Agency or its <br />successor. <br />"American Recovery and Reinvestment Act" shall mean the American Recovery and <br />Reinvestment Act of 2009, and other laws, regulations and guidance supplemental thereto <br />(including the Safe Drinking Water Act), as amended and supplemented from time to time. <br />"AuthorizinE Instrument(s)" shall mean the separate trust indenture(s) of the <br />Participant entered into with a corporate trustee or the detailed resolution(s) or ordinance(s) of <br />the governing body of the Participant pursuant to which the Bonds are issued in accordance with <br />State law. <br />"Authorized Representative" shall mean the Clerk-Treasurer of the Participant or such <br />other officer, official, or representative of the Participant duly authorized to act for and on behalf <br />of the Participant as provided for herein. <br />"Bond" or "Bonds" shall mean the instrument(s) (including the 2009 Bonds and the <br />2009 BAN) which evidence(s) the Loan, as authorized by the Authorizing Instrument and <br />containing the terms set forth in Section 2.02 of this Agreement. <br />"Bond Fund" shall mean the separate and segregated fund or account established and <br />created by the Participant pursuant to the Authorizing Instrument from which payment of the <br />principal of and interest on the Bonds is required to be made by the Participant. <br />"Business Day" shall mean any day other than a Saturday, Sunday or State legal holiday <br />or any other day on which financial institutions in the State are authorized bylaw to close and to <br />remain closed. <br />2 <br />