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7. the Obligations must include a provision requiring the City to use any loan proceeds from <br />the Obligations that are determined to be surplus funds remaining after completion of the <br />project for the following purposes as approved by the Executive Administrator: (1) to <br />redeem, in inverse annual order, the Obligations owned by the TWDB; deposit <br />interest or <br />the Interest and Sinking Fund or other debt service account for the payment <br />principal on the Obligations owned by the TWDB; or (3) eligible project costs as <br />authorized by the Executive Administrator; <br />8. the Obligations must contain a provision that the Obligations may that restricts or lemes <br />available to it in law or equity, and any provision of the <br />the TWDB's full exercise of these remedies shall be of no force and effect; <br />9. loan proceeds are public funds and, as such, the Obligations must include a provision <br />requiring that these proceeds shall be held at a designated state depository institution or <br />other properly chartered and authorized institution 56 and the Public ands Collates! Act <br />Investment Act, Government Code, Chap , <br />Government Code, Chapter 2257; <br />10. loan proceeds shall not be used by the City when sampling, testing, removing or <br />disposing of contaminated soils and/or media at the project site. The Obligations shall <br />include an environmental indemnification provision wherein the City agrees to <br />indemnify, hold harmless and protect the TWDB from any and all claims, causes of <br />+� action or damages to the person or property of third parties arising from the sampling, <br />analysis, transport, storage, treatment and disposition of any contaminated sewage sludge, <br />contaminated sediments and/or contaminated media that may be generated by the City, its <br />contactors, consultants, agents, officials and employees as a result of activities relating <br />to the project to the extent permitted by law; <br />11. prior to closing, the City shall submit documentation evidencing the adoption and <br />implementation of sufficient system rates and charges or, if applicable, the levy of an <br />interest and sinking tax rate sufficient for the repayment of all system debt service <br />requirements; <br />12. prior to closing, and if not previously provided with the application, the City shall submit <br />executed contracts for engineering, and, if applicable, financial advisor and bond counsel <br />contracts, for the project that are satisfactory to the Executive Administrator. Fees to be <br />reimbursed under the contracts must be reasonable in relation to the services performed, <br />reflected in the contract, and acceptable to the Executive Administrator, <br />or in <br />13. prior to closing, when any portion of the financial assistance is to be held in escrow form and <br />trust, the City shall execute an escrow or trust agreement, approved <br />substance by the Executive Administrator, and shall submit that executed agreement to <br />the TWDB; <br />14. the Executive Administrator may require that the City execute a separate financing <br />agreement in form and substance acceptable to the Executive Administrator; <br />TWDB Contract No. LF1000351 <br />Exhibit A, Page 4 of 9 <br />