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ARTICLEI DEFIl�TITIONS ...........................................................................................................1 <br />SECTION 1.01. Definitions ................................................................................................1 <br />SECTION 1.02. Rules of Construction ...............................................................................6 <br />ARTICLE II LOAN TERMS; SENIOR DEBT; PARITY DEBT; DISBURSEMENT; <br />ADDITIONAL PAYMENTS ....................................................................................6 <br />SECTION 2.01. Authorization ...........................................................................................6 <br />SECTION 2.02 Terms of Loan; Interest Rates; Interest Only Period; Bond Date .............6 <br />SECTION 2.03. Prepayment and Reduction in Loan Funds ..............................................7 <br />SECTION 2.04. Encumbrance of Loan Funds ...................................................................8 <br />SECTION 2.05 Senior Debt ..............................................................................................8 <br />SECTION 2.06. Parity Debt ...............................................................................................8 <br />SECTION 2.07. Borrower's Payment of Project Costs ....................................................10 <br />SECTION 2.08. Validity of Loan Agreement ..................................................................10 <br />SECTION 2.09. Project Description .................................................................................10 <br />SECTION 2.10. Reasonable Cost of Eligible Project .......................................................10 <br />SECTION 2.11. Withholding of Loan Funds ...................................................................10 <br />SECTION 2.12. Disbursement; Additional Payments ......................................................1 l <br />ARTICLE III PLEDGE OF PLEDGED TAX REVENUES; APPLICATION OF FUNDS .......13 <br />SECTION 3.01. Pledge of Pledged T� Revenues and Special Fund ..............................13 <br />SECTION 3.02. Special Fund and 2002 Loan Special Fund; Deposits; Limitation on <br />Optional Prepayments of Senior Debt ................................................................................13 <br />SECTION 3.03. Amounts Payable from the 2002 Loan Special Fund ............................14 <br />SECTION 3.04. Commingling of Accounts .....................................................................14 <br />ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE BORROWER ...............14 <br />SECTION 4.01. Organization; Authority .........................................................................14 <br />SECTION 4.02. Agreement Valid and Binding; Approval by City .................................14 <br />SECTION 4.03. No Conflict in Execution of Agreement ................................................14 <br />SECTION 4.04. No Litigation ..........................................................................................15 <br />SECTION 4.05. No Breach or Default .............................................................................15 <br />SECTION 4.06. No Consent, Approval or Permission Necessary ...................................15 <br />SECTION 4.07. Pledged Funds; Limited Obligation .......................................................15 <br />SECTION 4.08. Pledge and First Lien .............................................................................15 <br />SECTION 4.09. Information Submitted to the CIEDB ....................................................15 <br />SECTION 4.10. Financial Statements of the Borrower ....................................................16 <br />SECTION 4.11. Establishment ofProject Area ................................................................16 <br />SECTION 4.12. Project Completion ................................................................................16 <br />SECTION 4.13. Existing Obligations ........................ <br />.......................................................16 <br />ARTICLE V AFFIRMATIVE COVENANTS OF THE BORROWER ......................................16 <br />SECTION 5.01. Punctual Payment ...................................................................................16 <br />SECTION 5.02. Payment of Claims .................................................................................17 <br />SECTION 5.03. Books and Accounts; Financial Statements ...........................................17 <br />SECTION5.04. Reserved .................................................................................................18 <br />SECTION 5.05. Notification to the CIEDB .....................................................................18 <br />SECTION 5.06. Protection of Security and Rights ..........................................................18 <br />SECTION5.07. Reserved .................................................................................................18 <br />SECTION 5.08. Tax Covenants ........................................................................................18 <br />