2008-11-01 - Laserfiche WebLink

Home Browse Search

© ARTICLE III THE PROJECT Section 3.1. Acquiring, Constructing and Equipping of the Project. The Company shall cause the Project to be acquired, constructed and equipped with all reasonable dispatch in order to effectuate the purposes of the Act. The Company shall have the sole responsibility under this Lease Agreement for the acquiring, constructing and equipping of the Project and may perform the same itself or through its agents,and may make or issue such contracts,orders,receipts and instructions, and in general do or cause to be done all such other things as it may in its sole discretion consider requisite or advisable for the acquiring,construction and equipping of the Project and for fulfilling its obligations under this Article III. The Company shall have full authority and the sole right under this Lease Agreement to supervise and control, directly or indirectly, all aspects of the acquiring, constructing and equipping of the Project. Title to the Project shall be placed in the Issuer. Section 3.2. Company Required to Pay in Event Proceeds of Bonds Insufficient. In the event the proceeds of the issuance and sale of the Bonds available for payment of Project Costs should not be sufficient to pay the Project Costs in full,the Company agrees to complete the Project and to pay that portion of the Project Costs in excess of the moneys available therefor from the proceeds of the Bonds. The Issuer does not make any warranty,either expressed or implied,that the proceeds of the issuance and sale of the Bonds available for payment of Project Costs will be sufficient to pay all of the Project Costs. The Company agrees that if after exhaustion of Bond • proceeds the Company should pay any portion of the Project Costs pursuant to the provisions of this Section, the Company shall not be entitled to reimbursement therefor from the Issuer or from the Trustee or from the holders of any of the Bonds,nor shall the Company be entitled to any diminution of the amounts payable under Section 5.3 hereof. Section 3.3. Revision of Scone, Plans and,Specifications. The Company may revise the scope, plans and specifications for the Project at any time and from time to time in any respect, including, without limitation, any changes therein, additions thereto, substitutions therefor and deletions therefrom;provided,however,that no such revision shall materially impair the effective use of the Project contemplated by this Lease Agreement or shall render inaccurate any of the representations contained in Section 2.2 hereof. Section 3.4. Certification of Completion Date. Promptly after the Completion Date,the Company shall submit to the Issuer and the Trustee a certificate, executed by a Company Representative,which shall specifythe Completion Date and shall state that acquisition,construction and equipment of the Project has been completed and the Project Costs have been paid or set aside for payment,except for any Project Costs which have been incurred but are not then due and payable, or the liability for the payment of which is being contested or disputed by the Company. Notwithstanding the foregoing, such certificate may state that it is given without prejudice to any rights against third parties which exist at the date thereof or which may subsequently come into being. 9