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ARTICLE IV. <br /> COMPLETION OF THE PROJECT <br /> Section 4.1. Acquisition, Construction, Equipping and Improving of Project. It <br /> is understood that improvements made for the Project are that of the Company and any contracts <br /> made by the Company with respect thereto shall acquire,construct,equip and improve the Project. <br /> The Company shall use commercially reasonable efforts to construct the Project with all <br /> reasonable dispatch and to complete the Project by no later than the Target Completion Date in <br /> accordance with the Development Agreement and shall pay when due all fees, costs and expenses <br /> incurred in connection with that acquisition, construction, equipment, and improvement from <br /> funds made available therefor. It is further understood that any contracts made by the Company <br /> with respect to the Project,whether construction contracts or otherwise,or any work to be done by <br /> the Company on the Project are made or done by the Company on its own behalf and not as agent <br /> or contractor for the City. <br /> Section 4.2. Use of Bond Proceeds for Project. The City shall cause to be <br /> deposited all proceeds from the sale of the Bonds in the manner specified in Article III of the <br /> Indenture, and the City shall cause to be maintained such proceeds and funds in the manner <br /> specified in Article IV of the Indenture. Under the Indenture, the Trustee, on behalf of the City, <br /> is authorized and will be directed from time to time to make payments from the Project Fund to <br /> pay for Project Costs approved by the City, or to reimburse the Company for any Project Costs <br /> approved by the City, with any such disbursements to be made in accordance with the terms and <br /> conditions of the Indenture, this Agreement, and the Development Agreement. The Company <br /> shall submit disbursement requests substantially in the form at Exhibit A of the Indenture to the <br /> City, and the City agrees to direct such requisitions to the Trustee as may be necessary to effect <br /> payments out of the Project Fund for costs of the Project approved by the City, all in accordance <br /> with Section 4.3(a)of the Indenture, this Agreement and any such terms or conditions set forth in <br /> the Development Agreement. Any moneys remaining in the Project Fund after completion of the <br /> Project shall be transferred and applied in the manner provided in Section 4.3 of the Indenture. <br /> The Company hereby acknowledges receipt of a copy of the Indenture. <br /> Section 4.3. Completion Date. The Company shall notify the City and the <br /> Trustee of the Completion Date by a certificate signed by the Designated Representative stating: <br /> (a) the date on which the Project is substantially completed, which shall be <br /> evidenced by the issuance of a certificate of occupancy by the City, if the City provides such <br /> certificates of occupancy, <br /> (b) that all other facilities necessary in connection with the Project have been <br /> acquired, constructed, equipped and improved, and <br /> (c) that the acquisition, construction, equipment and improvement of the <br /> Project and those other facilities have been accomplished in such a manner as to conform <br /> with all applicable zoning, planning, building, environmental and other similar <br /> governmental regulations. <br /> - 11 - <br />