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<br />maintain fire insurance on said Properties to the same extent as <br /> <br />is now being maintained. <br /> <br />9.05 In the event the Closing Date is delayed beyond ninety <br />(90) days through no fault of LCRA, and after CITY has sold bonds <br /> <br />and received the proceeds to purchase the San Marcos District <br /> <br />Electric Distribution System, LCRA shall be entitled upon demand <br /> <br />to accrued interest at six percent (6%) per annum upon the amount <br /> <br />provided in Section 5.01, which is the purchase price of the San <br /> <br />Marcos District Electric Distribution System, commencing from the <br /> <br />ninety-first (91st) day following the Closing Date. <br /> <br />ARTICLE X <br />REPRESENTATIONS AND WARRANTIES <br />, <br /> <br />10.01 LCRA represents and warrants to CITY as follows: <br /> <br />(a) <br /> <br />LCRA is a governmental agency duly created by and <br /> <br />validly operating under and pursuant to the provisions of Chapter <br /> <br />7 of the General Laws enacted by the Forty-Third Legislature of <br /> <br />the State of Texas, Fourth Called Session, as amended, and has the <br /> <br />requisite power and authority to propose, approve and adopt the <br />necessary resolution authorizing the sale of the Property <br /> <br />described in this Agreement to CITY and the execution of this <br />Agreement and the agreements substantially in the form of Exhibits <br /> <br />15 and 16 attached to this Agreement and to deliver the same and <br />perform all obligations set forth in the above described <br /> <br />agreements. <br /> <br />21. <br />