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<br />LOAN AGREEMENT <br /> <br />TABLE OF CONTENTS <br /> <br />Page <br />ARTICLE IDEFINITIONS ................. ....... .... .......... ..... ..... ......3 <br /> <br />ARTICLE II REPRESENTATIONS, WARRANTIES <br />AND COVENANTSOF BORROWER AND COUNCIL <br />SECTION 2.01. Representations, Warranties and Covenants ......................................................10 <br />SECTION 2.02. Covenants of Borrower ................... ..... ..... ............................................ ........ .....13 <br /> <br />ARTICLE III THE LOAN <br /> <br />SECTION 3.01. The Loan ......... '" ....... ......................................... ...................... ........... ............. ..17 <br /> <br />SECTION 3.02. Evidence of Loan ...............................................................................................17 <br /> <br />ARTICLE IV LOAN TERM AND LOAN CLOSING <br /> <br />REQUIREMENTS <br />SECTION 4.01. Commencement of Loan Term ............. ............................ ............... ............. .....18 <br />SECTION 4.02. Termination of Loan Term.................................................................. .............. .18 <br />SECTION 4.03. Loan Closing Submissions....... ................ ....... ...................... ........................ .... .18 <br /> <br />ARTICLE V LOAN REPAYMENTS <br />SECTION 5.01. Payment of Basic Payments ...............................................................................20 <br />SECTION 5.02. Payment of Surety Bond Costs. .......... .................. ................................. ........ .....20 <br />SECTION 5.03. Payment of Additional Payments .......................................................................20 <br />SECTION 5.04. Credit for Interest Earnings or Investment Losses and Excess Payments..........21 <br />SECTION 5.05. Obligations of Borrower UnconditionaL....................................................... .....22 <br />SECTION 5.06. Refunding Bonds............... ................... ......... .................................................. ...22 <br /> <br />SECTION 5.07. Prepayment....... ...................................... .......................................................... ..22 <br /> <br />ARTICLE VIDEFEASANCE....... .......................... ............ .....23 <br /> <br />ARTICLE VII ASSIGNMENT AND PAYMENT BY <br /> <br />THIRD PARTIES <br /> <br />SECTION 7.01. Assignment by Council........... ...................... ...................... ............................ ...24 <br />SECTION 7.02. Assignment by Borrower................................................... ................... ......... .....24 <br />SECTION 7.03. Payments by the Bond Insurer............................................................................24 <br />SECTION 7.04. Payments by the Surety Bond Provider.................................................. ......... ...24 <br /> <br />ARTICLE VIII EVENTS OF DEFAULT AND <br /> <br />REMEDIES <br />SECTION 8.01. Events of Default Defined........ ........................................................... ............. ..25 <br />SECTION 8.02. Notice of Default............................ ................................. ............................ .......26 <br />