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<br />validity and enforceability of this Agreement and (3) litigation <br /> <br />matters. <br /> <br />The form of such counsel's opinion is marked as Exhibit <br /> <br />14 attached to this Agreement and incorporated herein by <br /> <br />reference. <br /> <br />(e) <br /> <br />CITY shall have obtained passage by CITY'S eligible <br /> <br />voters of the July 26, 1986 Bond Election authorizing issuance of <br /> <br />$17,100,000.00 Electric System Revenue Bonds binding CITY to <br /> <br />expend sufficient proceeds of such bonds to buy the System and <br />shall have further obtained on reasonable terms satisfactory to it <br /> <br />the net proceeds from the issuance and sale of its bonds or notes <br /> <br />adequate to finance the payment of the total amount estimated to <br /> <br />be paid by it to LCRA under this Agreement and there shall have <br /> <br />been no contest of said election. <br /> <br />(f) <br /> <br />CITY shall have received from LCRA an executed <br /> <br />original of each of the following: the Conveyance of the Property <br /> <br />to be sold in the form of an instrument marked as Exhibit 7 to <br /> <br />this Agreement, the Bill of Sale in the form of Exhibit 8 and <br /> <br />Transfers and Assignment in the forms of Exhibits 9 and 11. <br /> <br />(g) <br /> <br />CITY shall have reasonably determined that the <br /> <br />condition of title to the property to be conveyed, transferred <br /> <br />and assigned by LCRA to CITY is acceptable to CITY. <br /> <br />Exceptions to <br /> <br />title may be considered as a basis for dissatisfaction with the <br /> <br />condition of title and LCRA shall within fifteen (15) days take <br /> <br />steps to cure any title defects which can be remedied. <br /> <br />17. <br />