Agenda - 06-24-1986 - Laserfiche WebLink

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ARTICLE III ACQUISITION OF THE PROJECT Section 3. 1 . Agreement as to Acquisition of the Project. The Authority and the Company hereby agree that the Company shall complete the Acquisition of the Project with all reasonable dispatch, delays incident to strikes, riots, acts of God or the public enemy or any delay beyond its reasonable control only excepted, in accordance with the Plans and Specifications ; provided, however , that if completion of such Acquisition is delayed for any reason, there shall be no diminution in or postponement of the payments to be made by the Company pursuant to the Note. Section 3 . 2. Company to Obtain Approvals Required for the Project. The Company shall obtain all necessary permits and approvals for the Acquisition, operation and maintenance of the Project and shall comply with all lawful requirements of any governmental body regarding the use or condition of the Project. The Company may, however, contest any such requirement in good faith by an appropriate proceeding diligently prosecuted. Section 3. 3. Plans and Specifications. The Company shall maintain a set of Plans and Specifications at the Project which shall be available to the Authority and the Holder for inspection and examination during the Company 's regular business hours, and the Authority, the Holder and the Company agree that the Company may supplement, amend and add to the Plans and Specifications, and that the Company shall be authorized to omit or make sub- stitutions for components of the Project, without the approval of the Authority and the Holder, provided that no such change shall be made which shall be contrary to (1) subsections (c) , (d) , (f) or (h) of Section 2.2, or (2) any of the representations and warranties set forth in Exhibit C hereto, and provided further that if any such change would render materially incorrect or inaccurate the description of the initial components of the Project as set forth in Exhibit B to this Agreement, the Company, the Holder and the Authority shall amend such Exhibit B to reflect such change, and the Company shall cause to be furnished to the Authority and the Holder an opinion of bond counsel that such change will not cause interest on the Bond to be subject to federal income tax. No approvals of the Authority and the Holder shall be required for the Acquisition of the Project or for the solicitation, negotiation, award or execution of contracts relating thereto. 13.