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O <br />ARTICLE III <br />TAXES AND ASSESQNIENTS IMPOSITIONS <br />Section 301. Subject to the provisions of Section 302, Lessee <br />shall pay all taxes and assessments, general and specific, if any, levied <br />and assessed on the leased premises during the term, and all water and <br />sewer charges, assessments, and other governmental charges and impositions <br />whatsoever, foreseen and unforeseen, ,which if not paid when due, would <br />impair the lien of the Trust Indenture on the leased premises or the security <br />of the bonds, or encumbar Lessor's title, all of which are herein called <br />"impositions"; provided, however, that any imposition relating to a fiscal <br />period of the taxing authority, part of which extends beyond the term, shall <br />be apportioned as of the expiration of the term. Lessor shall promptly forward <br />to Lessee any notice, bill or other statement received by Lessor concerning <br />any imposition. Lessee may pay any imposition in installments if so payable <br />by law, whether or not interest accrues on the unpaid balance. <br />Section 302. The parties hereto recite knowledge of the decision <br />of the Supreme Court of the State of Arkansas in Wayland M. Snapp, 232 Ark. <br />57, 334 S.W.2d 633, concerning the exemption of properties owned by <br />municipalities and used for securing and developing industry under and <br />pursuant to the provisions of Act No. 9. The Lessor covenants that it will <br />not part with title to the leased premises or any part thereof during the term <br />or take any other affirmative action which may reasonably be construed as <br />tending to cause or induce the leer or assessment of ad valorem taxes on the <br />leased premises. <br />The Lessor and the Lessee acknowledge that (a) under their and <br />other interpretations of present law, no part of the leased premises will be <br />