Orange County NC Website
ARTICLE V <br /> REVENUE FUND; BOND FUND,MAINTENANCE RESERVE FUND; REBATE FUND 21 <br /> Section 5.01 Revenue Fund <br /> Section 5.02. Bond Fund 21 <br /> Section 5.03. Maintenance Reserve Fund 21 <br /> Section 5.04. Operating and Maintenance Fund 21 <br /> Section 5.05. Reserve Fund 22 <br /> 22 <br /> ARTICLE VI <br /> Deposit and Investment of Moneys in Funds and Accounts 23 <br /> ARTICLE VII <br /> GENERAL COVENANTS <br /> Section 7.01. Payment of Revenues and Principal and Interest, Pledge of Trust Estate; Limited Liability 24 <br /> Section 7.02. Complete the Project and any Improvements 24 <br /> Section 7.03. Use of Proceeds,Ownership,Management and Operation of Properties 24 <br /> Section 7.04. No Priority 24 <br /> Section 7.05. Punctual Payment 24 <br /> Section 7.06. Payment of Taxes and Other Charges 24 <br /> Section 7.07. Books and Accounts;Financial Statements 25 <br /> Section 7.08. Eminent Domain Proceeds 25 <br /> Section 7.09. Performance of Covenants by Corporation;Authority; Due Execution 25 <br /> Section 7.10. Recording and Filing; Instruments of Further Assurance 25 <br /> Section 7.11. Recording and Filing; Further Instruments 25 <br /> Section 7.12. No Disposition of Trust Estate 25 <br /> Section 7.13. Access to Books 26 <br /> Section 7.14. Covenants as to Corporate Existence,Maintenance of Project <br /> and any Improvements,Insurance,Etc. 26 <br /> Section 7.15. Rate Covenant. 30 <br /> Section 7.16. Operating Budgets. 30 <br /> Section 7.17. Indemnification and Nonliability of the Trustee. 31 <br /> Section 7.18. Environmental Condition of Project and any Improvements;Indemnification. 31 <br /> ARTICLE VIII <br /> Tax Covenants <br /> 33 <br /> ARTICLE IX <br /> DEFAULTS AND REMEDIES 34 <br /> Section 9.01. Events of Default 34 <br /> Section 9.02. Remedies on Default 34 <br /> Section 9.03. Owners'Right to Direct Proceedings 35 <br /> Section 9.04. Rights and Remedies of Owners 35 <br /> Section 9.05. Trustee May Enforce Rights Without Bonds 36 <br /> Section 9.06. Delay or Omission No Waiver 36 <br /> Section 9.07. No Waiver of One Default to Affect Another 36 <br /> Section 9.08. • Discontinuance of Proceedings on Default; Position of Parties Restored 36 <br /> Section 9.09. Waivers of Events of Default 36 <br /> Section 9.10. Application of Moneys 37 <br /> 11 <br /> ' l <br />