1985-05-04-R - Laserfiche WebLink

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-6- d. The Grantee/Borrower agrees that upon ninety (90) days • written notice it will , at its own expense, issue in exchange for the Bonds held by the Government, coupon bonds of equal aggregate principal amount in denominations satisfactory to the Government maturing as provided in the Bond Specification which Bonds shall be substantially in the form required by the Government. e. Simultaneously with the delivery of any Bonds and/or Notes to the Government, the Grantee/Borrower shall furnish to the Government from Bond and/or Note Counsel satisfactory to the Government an opinion which shall express its general approval of all of the Bonds and/or Notes, and specifically and unqualifiedly the Bonds and/or Notes then being delivered to the Government and shall state that said Bonds and/or Notes have been issued pursuant to all requirements of law and that said Bonds and/or Notes, when delivered and paid for, will constitute binding and legal obligations payable and secured in accordance with the tenor thereof and the terms and conditions of this Agreement. f. The Grantee/Borrower shall include in the proceedings for the authorization, issuance, sale and security of the Bonds and/or Notes, provisions for the payment of the principal of and interest on the Bonds and/or Notes and for the security thereof of the nature required to assure such payment and to safeguard the loan hereunder, including, in case the Bonds and/or Notes are payable in whole or in part from any special sources of revenues, provisions designed to assure the pro- duction of such revenues and the application thereof to the extent required for the payment and security of the Bonds and/or Notes and interest thereon, including the maintenance of reasonable reserves. g. So long as the Government holds any of the Bonds and/or Notes , the Grantee/Borrower shall furnish operating statements for the Project, and any facilities , the revenues of which are pledged to payment of the Bonds and/or Notes, in such form and substance for such periods as may be requested by the Govern- ment. h. The Grantee/Borrower shall during construction and there- after so long as the Government holds any Bonds and/or Notes , carry insurance, and during construction require each contrac- tor and subcontractor to carry insurance, of such types and in such amounts as the Government may specify with insurance carriers acceptable to the Government. i . If required by the Government, the Grantee/Borrower will enter into a Trust Agreement designating a bank acceptable to the Government as Trustee and containing such other terms and • previsions as may be satisfactory to the Government.