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14 <br />intended as of the date of this Contract. The County will in no event use the <br />Mortgaged Properly or any part thereof nor allow the same to be used for any <br />unlawful purpose or in violation of any certificate of occupancy or other permit or <br />certificate, or any law, ordinance or regulation. <br />4.6. Use and Operation of Facilities. (a) The County will use and <br />operate the Pledged Facilities for their intended public purposes, and for no other <br />purpose unless required by law. The County will be solely responsible for the <br />operation of the Pledged Facilities, and will not contract with any other person or <br />entity for such operation provided, however, that the County may lease that portion <br />of the Pledged Facilities described as Elementary School #10 to the School Board, <br />or may otherwise provide for the School Board's use of such facilities, but no such <br />lease or other arrangement will have any affect on the County's obligations under <br />this Financing Contract. <br />(b) Notwithstanding the provisions of subsection (a), the parties <br />acknowledge that the County intends to lease the portion of the Pledged Facilities <br />described as Elementary School #10 to The Chapel Hill-Carrboro City Board of <br />Education (the "School Board"), or may otherwise provide for the School Board's <br />.use of such portion of the Pledged Facilities. In addition, the County and the <br />School Board may agree that the School Board will assume some of the County's <br />responsibilities under this Contract, including obligations with respect to entering <br />into and monitoring construction contracts related to Elementary School #10. <br />Notwithstanding any other provision of this Contract to the contrary, the parties <br />agree that any such lease or other arrangements between the County and the School <br />Board will not violate any provision of this Contract.. No such ,lease or other <br />arrangement, however, will in any way reduce the County's responsibilities to <br />SunTrust for the Pledged Facilities under this Contract. <br />4.7. Modification of Pledged Facilities; Installation of Equipment and <br />Machinery. The County has the right to remodel the Pledged Facilities or <br />make substitutions, additions, modifications and improvements to the Pledged <br />Facilities, at its own cost and expense; provided, however, that such substitutions, <br />additions, modifications and improvements will not in any way damage the <br />Pledged Facilities or result in the use of the Pledged Facilities for purposes <br />substantially different from those initially proposed; and provided further that the <br />Pledged Facilities, as improved or altered, upon completion of such substitutions, <br />additions, modifications and improvements, will be of a value not less than the <br />value of the Pledged. Facilities immediately prior to such making of substitutions, <br />additions, modifications and improvements. <br />97562vi 14 <br />