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4) <br /> <br />That the entering into and performance of this Agreement will not violate any judgment, order, <br />law or regulation applicable to Lessee, or result in any breach of, or constitute a default under, or <br />result in the creation of any lien, charge, security interest or other encumbrance upon any assets <br />5>f the Lessee, or oh the Equipment pursuant to any indenture, mortgage, deed of trust, bank loan <br />or credit agreement or other instrument to which the Lessee is a par~y, or by which it or its assets <br />may be bound. <br /> <br />6) <br /> <br />There are no actions, suits or proceedings pending or to the knowledge of the Lessee or the <br />undersigned, threatened against or affecting Lessee in any court or before any governmental <br />commission, board or authority which, if adversely determined, will have a materially adverse <br />effect on the ability of Lessee to perform its obligation under the Agreement. <br /> <br />The Lessee has been allotted funds and sufficient funds have been appropriated lawfully and in <br />accordance with ail procedures applicable thereto fur the payment of' lease payments during the <br />first fiscal period of said Lease. <br /> <br />7) <br /> <br />Under existing regulations of the Internal Revenue Code, the indebtedness of Lessee is not an <br />arbitrage bond within the meaning of Section I48 of the Internal Revenue Code of 1986, as <br />amended. <br /> <br />8) <br /> <br />The Lease is not a private activity bond within the meaning of Section 141 of the ]Internal <br />Revenue Code of 1986 and the Lease has been designated by the Lessee as a qualified tm'{ <br />exempt obligation for purposes of Section 265 (b) (3) of the Internal Revenue Code of 1986. <br /> <br />Very truly yours, <br /> <br />.Counsei ~'o~ Lessee <br /> <br /> <br />