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<br />ARTICLE 3 <br /> <br />ACQUISITION OF THE PROJECT <br /> <br />SECTION 3.01. ACOUlSITION AND EOUlPPING OF PROJECT BY CORPORATION. The <br />Issuer hereby authorizes the Corporation to provide for the acquisition, equipping and installation <br />ofthe Project without advertisement for bids as required for the acquisition and installation of other <br />municipal property and pursuant to the terms and conditions of this Article 3. Pursuant to such <br />authority, the Corporation agrees that it will: <br /> <br />(a) acquire and equip the Project; <br /> <br />(b) cause insurance to be maintained during the construction period in accordance <br />with the provisions of Article 5 hereof; and <br /> <br />( c) use its best efforts to complete the installation of the Project by July 1, 20 I O. <br /> <br />SECTION 3.02. PAYMENT OF COSTS OF THE PROJECT BY CORPORATION. The <br />Corporation agrees that it will provide promptly any and all sums of money required to complete the <br />acquisition, equipping and installation ofthe Project to the extent not paid from the proceeds of the <br />Bonds, including any and all of the following costs: <br /> <br />(a) all legal (including Bond Counsel and counsel to the Corporation, Issuer, <br />Underwriter and Trustee), abstractors', financial and accounting fees and expenses, title <br />insurance premiums, administrative, printing and engraving costs and other expenses <br />incurred and to be incurred on or before or in connection with issuance of the Bonds; <br /> <br />(b) all mortgage recording fees; and <br /> <br />(c) all fees and expenses of the Trustee. <br /> <br />The Corporation agrees to be liable and pay for any Costs of Issuance. The Corporation <br />further agrees to pay such costs from its own funds to the extent moneys on deposit in the Cost of <br />Issuance Fund are insufficient therefor; provided that in no event may Bond proceeds in excess of <br />two percent (2%) ofthe proceeds of the Bonds be used to payor reimburse for the payment of Costs <br />of Issuance. <br /> <br />SECTION 3.03. DISBURSEMENTS FROM PROJECT FuND. The proceeds of the Bonds <br />deposited in the Project Fund will be disbursed by the Trustee in accordance with the terms of this <br />Loan Agreement upon receipt of a certificate (substantially in the form of Exhibit B attached hereto) <br />signed by a Corporate Representative containing the following information: <br /> <br />3-1 <br />