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5. The Issuer recognizes that the Authority and the Commission shall be under no obligation to provide any funds to the Issuer other than the proceeds of the Bond. If,for any reason, the Issuer does not utilize the entire Bond proceeds, then in such event the Principal Amount of the Bond will be reduced to the amount actually withdrawn. Any reduction of the Bond pursuant to this provision shall result in pro rata reductions of the remaining installments of principal so that the weighted average life of the Bond immediately following any such reduction shall be substantially equal to the weighted average life of the Bond immediately prior to such reduction. The Authority agrees to accept,or cause the registered owner of the Bond to accept,a new Bond from the Issuer reflecting the revised payment schedule. 6. Subject to the terns and conditions and upon the basis of the representations herein set forth,the Authority hereby agrees to purchase the Bond from the Issuer in installments from time to time from moneys in the Revolving Loan Fund in an amount up to the Principal Amount,and the Issuer hereby agrees to sell the Bond to the Authority at a price of 100 percent of the Principal Amount of the Bond purchased from time to time.The purchase price for the Bond shall be paid in a series of advances in accordance with the provisions of paragraph 7. The initial advance of the purchase price shall take place at the Closing. At the Closing, the Issuer will deliver,or cause to be delivered,to the Authority a single typewritten bond,duly executed and authenticated,together with the other documents herein required, and the Authority will accept delivery and make the initial advance of the purchase price of the Bond by wire transfer of immediately available funds or by certified or official bank cashier's check as directed by the Issuer. If the Closing and the initial advance do not occur within 180 days from the date hereof, then the Authority's obligation to purchase the Bond is terminated. 7. So long as the Issuer is in compliance with the terms and provisions of this Agreement and the Bond Ordinance and the representations and warranties of the Issuer made herein remain true and correct, the Authority agrees to make, and the Commission agrees to approve advances of the purchase price of the Bond ("Disbursements") from moneys in the Revolving Loan Fund as follows: (a) Disbursements shall only be made based upon actual work completed; (b) The Issuer may request reimbursement for costs not more often than monthly, provided,however,during the Project performance period requests for reimbursement shall be limited to quarterly; (c) Disbursements shall be for costs incurred prior to the Disbursement Cut-Off Date,and no Disbursements shall be made following the Disbursement Cut-Off Date; (d) Disbursements shall be made for eligible work called for in the engineering services contract and in the plans and specifications approved by the Commission and Bond issuance costs eligible under Title XV of the Rules of the Commission Governing Loans for the Safe Drinking Water Fund,as now or hereafter amended("Title XV Rules");and 3