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5 <br />and attorneys' fees. <br />K.The Participant shall provide to the Finance Authority audited financial statements <br />of the Participant inclusive of the activities of the Participant’s utility system to be improved by <br />the Financial Assistance, commencing with financial statements for a calendar year period that <br />ends not more than two (2) years after the date of this Agreement (and for each calendar year <br />period that ends every two (2) years thereafter until the Financial Assistance has been repaid), <br />which audit (i) shall have been performed by the Indiana State Board of Accounts or by an <br />independent public accountant and (ii) shall be submitted to the Finance Authority no later than <br />nine (9) months following the end of the calendar year period to which such audit pertains. <br />ARTICLE III <br />A.The Finance Authority's obligation to make a disbursement of the Financial <br />Assistance to the Participant under this Agreement may be terminated at the option of the Finance <br />Authority, without giving any prior notice to the Participant, in the event: (1) the Participant fails <br />to undertake or perform in a timely manner any of its agreements, covenants, terms or conditions <br />set forth herein or in any paper entered into or delivered in connection herewith; or (2) any <br />representation or warranty made by the Participant as set forth herein or in any paper entered into <br />or delivered in connection herewith is materially false or misleading. Any such event shall <br />constitute an event of default. If an event of default occurs, the Finance Authority without giving <br />any prior notice, may declare the entire outstanding principal amount of the Loan, together with <br />accrued interest thereon, immediately due and payable. <br />B.Failure on the part of the Finance Authority in any instance or under any <br />circumstance to observe or perform fully any obligation assumed by or imposed upon the Finance <br />Authority by this Agreement or by law shall not make the Finance Authority liable in damages to <br />the Participant or relieve the Participant from paying any Obligating Instrument or fully <br />performing any other obligation required of it under this Agreement or the Authorizing Instrument; <br />provided, however, that the Participant may have and pursue any and all other remedies provided <br />by law for compelling performance by the Finance Authority of such obligation assumed by or <br />imposed upon the Finance Authority. Neither the Finance Authority nor any agent, attorney, <br />member, or employee of the Finance Authority shall in any event be liable for damages, if any, for <br />the nonperformance of any obligation or agreement of any kind whatsoever set forth in this <br />Agreement. <br />C.This Agreement does not create a debt or a liability of the Finance Authority under <br />the constitution of the Finance Authority or a pledge of the faith or credit of the Finance Authority <br />and does not directly, indirectly or contingently obligate the Finance Authority to levy any form <br />of taxation, or to make any appropriation, for the payment or fulfillment of any terms of this <br />Agreement. The Financial Assistance shall be funded solely from uncommitted, appropriated, and <br />available funds held in the Fund or from other sources the Finance Authority, in its sole discretion, <br />may designate. It shall be a condition precedent to the disbursement of the Financial Assistance or <br />any portion thereof, that there shall be available to the Finance Authority uncommitted funds in an <br />amount sufficient to satisfy the Finance Authority's obligations hereunder in the Fund.