1. MIDA Bond-Oak Grove School - Laserfiche WebLink

ARTICLE 7 CORPORATION'S COVENANTS SECTION 7.01. COVENANTS FOR BENEFIT OF LENDER AND HOLDERS OF BONDS. The Corporation recognizes the authority of the Issuer to assign its interest in and pledge monies receivable under this Loan Agreement (other than certain payments required to be made to the Issuer under Sections 4.03, 7.03 and 9.04 hereof) to the Lender as security for the payment of the principal of and interest and redemption premiums, if any, on the Bonds, and the payment of all fees and expenses of the Lender. Each of the terms and provisions ofthis Loan Agreement is a covenant for the use and benefit of the Lender so long as any principal or interest due on the Bonds shall remain outstanding; but upon payment in full of the Bonds all references in this Loan Agreement to the Bonds and the Lender shall be ineffective, and the Lender shall not thereafter have any rights hereunder, save and except those that shall have theretofore vested. SECTION 7.02. INSPECTION AND ACCESS. The Corporation agrees that the Lender, and its duly authorized agents shall have the right at all reasonable times to examine and inspect the Facilities, and shall have such rights of access thereto as may reasonably be necessary in order to satisfy it that the provisions of this Loan Agreement are being complied with, and further, to have access thereto sufficient to cause the Facilities to be properly maintained in accordance with Article 5 in the event of failure by the Corporation to perform its obligations thereunder. SECTION 7.03. INDEMNITY. The Corporation will pay, and will protect, indemnify, and save the Issuer and Lender and their officers, agents, employees and any person who controls the Issuer or Lender within the meaning of the Securities Act of 1933, harmless, from and against all liabilities, losses, damages, costs, expenses (including attorneys ' fees), causes of action, suits, claims, demands, and judgments of any nature arising from: (a) any injury to or death of any person growing out of or connected with the use, non-use, or condition of the Facilities or a part thereof; including any and all acts or operations relating to the construction or installation of property or the Project. The foregoing indemnification obligations shall not be limited in any way by any limitation on the amount or type of damages, compensation or benefits payable by or for the Corporation, customers, suppliers or affiliated organizations under any Workers' Compensation Acts, Disability Benefit Acts or other employees benefit acts; (b) the Issuer; violation of any agreement or condition of this Loan Agreement, except by (c) violation of any contract, agreement, or restriction by the Corporation relating to the Facilities which shall have existed at the commencement of the term of this Loan Agreement; 7-1