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L9 <br />Page 20 <br />rn <br />insurance policies are to be taken with companies approved by the Trustee, <br />are to carry a clause making them payable to the Trustee as its interest may <br />appear, and are either to be placed in the custody of the Trustee or satisfactory <br />evidence of said insurance shall be filed with the Trustee. In the event of loss, <br />the proceeds of such insurance shall be applied solely toward the reconstruction, <br />replacement or repair of the System, and in such event the City and the Sewer <br />Committee will, with reasonable promptness, cause to be commenced and com- <br />pleted the reconstruction, replacement and repair work. If such proceeds are <br />more than sufficient for such purposes, the balance remaining shall be deposited <br />to the credit of the Sewer Fund and if such proceeds shall be insufficient for <br />such purposes, the deficiency shall be supplied, first, from moneys in the Sewer <br />Depreciation Fund, and second, from moneys in the Sewer Operation and Maintenance <br />Fund, and third, from available moneys in the Sewer Fund. Nothing herein shall <br />be construed as requiring the City to expend any funds for operation and mainte- <br />nance of the Sewer System or for premiums on its insurance which are derived <br />from sources other than the operation of the Sewer System, but nothing herein <br />shall be construed as preventing the City from doing so. <br />Section 18. That the City and the Sewer Commiteee covenant and <br />agree that so long as any Sewer Revenue Bonds are outstanding, that they will <br />not mortgage, pledge or otherwise encumber the Sewer System, or any part thereof <br />or any revenues derived from the operation thereof, except as herein specifically <br />provided, and will not sell, lease or otherwise dispose of any substantial <br />portion of the same. <br />Section 19. That the Sewer Committee shall keep or cause to be kept <br />proper books of accounts and records (separate from all other records and accounts <br />of the City) in which complete and correct entries shall be made of all trans- <br />actions relating to the construction of the herein authorized extensions, better- <br />