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L <br /> 2 . Undertakings on the Part of the Municipality. The <br /> Municipality agrees as follows: <br /> ( a) That when requested by the Company, it will <br /> authorize and take, or cause to be taken, the necessary steps to <br /> issue revenue bonds under the Act in the aggregate principal <br /> amount necessary to furnish the permanent financing of all or any <br /> part of the Project Costs. In this regard, it is estimated at this <br /> .time that the cost of accomplishing the Project will be in the <br /> amount of approximately $3, 500, 000 but bonds will be issued in <br /> such amount as shall be requested by the Company whether that <br /> amount is more or less than $3 , 500, 000 (the "Bonds" ) . <br /> (b) That it will, at the proper time and subject in all <br /> respects to the recommendation and approval of the Company, have <br /> the Bonds underwritten and will adopt, or cause to be adopted, <br /> such proceedings and authorize the execution of such documents as <br /> may be necessary and advisable for the authorization, sale and <br /> issuance of the Bonds, the acquiring, constructing and equipping <br /> of the Project and the loan of the proceeds of the Bonds to the <br /> Company for that purpose, all in conformity with the Act and any <br /> AP other applicable federal and state laws and upon terms and <br /> conditions mutually satisfactory to the Municipality and the <br /> Company. <br /> (c) That the aggregate basic payments (i . e . , the <br /> paym-nts to be used to pay the principal of, premium, if any, and <br /> interest on the Bonds) payable under the loan agreement between <br /> the Municipality and the Company shall be sufficient to pay the <br /> principal of, premium, if any, and interest on the Bonds when due. <br /> (d) That it will take or cause to be taken such other <br /> action and adopt such further proceedings as may be required to <br /> implement the aforesaid undertakings or as it may deem appropriate <br /> in pursuance thereof. <br /> 3 . Undertakings on the Part of the Company. The <br /> Company agrees as follows: <br /> (a) That it will cooperate with the Municipality in the <br /> sale and issuance of the Bonds to the end of achieving timely and <br /> favorable marketing thereof. <br /> (b) That it will enter into such loan agreement or <br /> other appropriate agreement with the Municipality as the Company <br /> and the Municipality determine to use, under which the Company <br /> will obligate itself to pay to the Municipality payments <br /> sufficient to pay the principal of, premium, if any, and interest <br /> on the Bonds when due. <br /> 2 <br />