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<br />ARTICLE 4 <br /> <br />THE LOAN, BASIC PAYMENTS AND ADDITIONAL PAYMENTS <br /> <br />SECTION 4.01. THE LOAN. The Issuer agrees, upon the terms and conditions herein <br />specified, to lend to the Corporation the proceeds received by the Issuer from the sale of the Bonds, <br />excluding any accrued interest, by causing such proceeds to be deposited with the Lender for <br />disposition as provided herein and in the Resolution. The amount of the Loan shall also be deemed <br />to include any "discount" or any other amount by which the aggregate price at which the Issuer sells <br />the Bonds to the Lender is less than the aggregate principal amount of the Bonds, plus accrued <br />interest; and the obligation of the Issuer to make the Loan shall be deemed fully discharged upon <br />so depositing the proceeds of the Bonds with the Lender. <br /> <br />SECTION 4.02. BASIC PAYMENTS. During the term of this Loan Agreement, as and for Basic <br />Payments the Corporation will pay to the Lender for deposit in the Bond Account on or before each <br />Payment Date (whether at maturity, or by redemption or acceleration as provided in the Bonds, by <br />declaration or otherwise), an amount equal to the principal of, premium, if any, and interest due on <br />the Bonds. <br /> <br />If on any Payment Date the balance in the Bond Aecount is insufficient to make the required <br />payments of principal of, premium, if any, and interest on the Bonds, the Corporation shall <br />immediately upon demand by the Lender pay all amounts to the Lender and the Lender shall deposit <br />any such deficiency into the Bond Aceount. Any moneys on deposit in the Bond Aecount on any <br />Payment Date in excess of the amount required for payment of principal of, premium, if any, and <br />interest on the Bonds shall be credited to the Corporation's next payment then due under Seetions <br />4.02 and 4.03 hereof. <br /> <br />All Basic Payments shall be made directly to the Lender at its principal office or at such <br />other office agreed to by the Lender, for the account of the Issuer. Overdue Basic Payments shall <br />bear interest at the rate then borne by the Bonds, payable to the Lender for the aceount of the Issuer. <br /> <br />The Corporation may, pursuant to Section 8.0 I hereof, prepay all or part of the Basic <br />Payments required under this Section 4.02. Such prepayments shall not in any way alter or suspend <br />any obligations of the Corporation under this Loan Agreement except to the extent the same result <br />in a credit against Basic Payments as provided in this Section 4.02 or the payment and retirement <br />of Bonds in accordance with the Resolution. <br /> <br />SECTION 4.03. ADDITIONAL PAYMENTS. The Corporation agrees to pay to the Issuer, upon <br />demand, as Additional Payments under this Loan Agreement, all reasonable expenses incurred by <br />the Issuer in relation to the Facilities which are not otherwise required to be paid by the Corporation <br />under the ternlS of this Loan Agreement, including all permit and license fees required under <br />regulations or codes of the Issuer, provided that the Corporation or the Lender shall have given <br />written approval to the incurring of sueh expenses. <br /> <br />4-1 <br />