1. MIDA Bond-Bethany on 42nd - Laserfiche WebLink

ARTICLE IV GENERAL TERMS AND COVENANTS SECTION 4.1. PAYMENT OF PRINCIPAL AND INTEREST. The Issuer shall, but only out of the Security, promptly pay the principal of, premium, (if any) and interest on the Bonds at the place, on the dates and in the manner provided herein and in the Bonds. The Issuer further shall, but only out ofthe Security, promptly pay interest on overdue principal, premium (if any) and interest (to the extent permitted by law and the terms of this Indenture) at the rate borne by the Bonds. Nothing in the Bonds or this Indenture shall be considered as pledging any other funds or assets of the Issuer. The Loan Agreement provides that the Basic Payments to be paid shall be sufficient in amount to insure the prompt payment of the principal, premium (if any) and interest on the Bonds as the same become due, and under the Loan Agreement the Basic Payments are to be remitted directly to the Trustee for the account of the Issuer, and deposited in the Bond Fund. SECTION 4.2. PERFORMANCE OF COVENANTS: AUTHORITY. The Issuer shall faithfully and punctually perform any and all of its obligations under this Indenture, in the Bonds and in the Resolution. The Issuer is duly authorized under the Constitution and laws of the State of North Dakota, in particular, the Act, to issue the Bonds and to execute this Indenture, to convey, pledge and grant the Security; that all action on its part for the issuance of the Bonds and the execution and delivery of this Indenture has been duly and validly taken and that the Bonds in the hands of the Bondholders are and will be valid and enforceable obligations of the Issuer in accordance with their terms. SECTION 4.3. PAYMENT OF TAXES. CHARGES. ETC. Under the Loan Agreement, the Company shall pay all lawful taxes, assessments and charges at any time levied or assessed upon or against the Facilities or any part thereof, subject to its right to contest the same as provided in the Loan Agreement. SECTION 4.4. MAINTENANCE. INSURANCE AND MODIFICATIONS. Under the Loan Agreement, the Company shall, at its own expense, cause the Facilities to be maintained in good condition, repair, and working order and shall, from time to time, make or cause to be made all necessary repairs, renewals, or replacements thereof, ordinary wear and tear and obsolescence excepted and shall maintain in effect or cause to be maintained in effect insurance with respect to the Facilities as provided in the Loan Agreement. Under the Loan Agreement, the Company may, at its own expense, from time to time make additions, modifications, and Improvements to the Facilities in accordance with the terms and conditions of the Loan Agreement. SECTION 4.5. INSPECTION OF FACILITIES AND BOOKS. The Facilities and all books and documents in the possession of the Issuer relating to the Facilities and the income and revenues derived from the Facilities shall at all reasonable times be open to inspection by the Trustee and its attorneys and agents. 4-1