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the principal and interest distributable with respect to all Certificates then outstanding. See the caption <br />"RISK FACTORS AND INVESTMENT CONSIDERATIONS -- Expiration or Termination of the <br />Lease" below. <br /> <br />Maintenance and Insurance of the Leased Property <br /> <br /> The City will agree in the Lease, at its own expense, to maintain, manage and operate the Leased <br />Property in good order, condition and repair, ordinary wear and tear excepted. The City will provide or cause <br />to be provided all security service, custodial service, janitor service, power, gas, telephone, light, heating, <br />water and all other public utility services. As provided in the Lease, the Trustee and the Owners of the <br />Certificates will not have any obligation to incur any expense of any kind or character for the management, <br />operation or maintenance of the Leased Property during the term of the Lease. <br /> <br /> The Leased Property is required to be insured to the extent described in Appendix A hereto under <br />"SUMMARY OF CERTAIN PROVISIONS OF THE LEASE -- Insurance." All Net Proceeds from <br />policies of insurance or condemnation awards which are received by the Trustee are required to be deposited <br />into the Insurance Fund under the Indenture. If such Net Proceeds are sufficient to repair, restore, modify, <br />improve or replace the affected portion of the Leased Property, such Net Proceeds are to be so applied. <br /> <br /> If such Net Proceeds are insufficient to pay in full the cost of any such repair, restoration, <br />modification, improvement or replacement, the City must, within 90 days after the occurrence of the event <br />giving rise to such Net Proceeds, take one of the following actions: <br /> <br /> (1) Commence and thereafter complete the work and pay any cost in excess of the Net <br />Proceeds, in which case the City is not entitled to any reimbursement therefor from the Trustee or the <br />Owners of the Certificates, nor is the City entitled to any diminution of the Base Rentals or <br />Supplemental Rent; or <br /> <br /> (2) If the failure to repair or restore does not materially detract from the value of the <br />Leased Property, then the City may discharge its obligation to repair or replace the Leased Property <br />by causing such Net Proceeds and other money to be deposited into the Certificate Payment Fund to <br />be used for the purposes of such Fund pursuant to the Indenture; or <br /> <br /> (3) Apply such Net Proceeds to the purchase of the Trustee's interest in the Leased <br />Property, the City being required to pay the amount of any deficiency of the amount of Net Proceeds <br />for such purpose and being entitled to retain any excess of such Net Proceeds. <br /> <br />Parity Obligations <br /> <br /> Additional Certificates may be executed and delivered pursuant to the Indenture as the City may deem <br />necessary or desirable to provide funds to pay one or more of the following: (1) the costs of such additions, <br />improvements, extensions, alterations, relocations, enlargements, expansions, modifications or changes in, on <br />or to the Leased Property as the City may deem necessary or desirable and as will not reduce the fair rental <br />value of the Leased Property; (2) to refund all or part of any series of Certificates; (3) the costs relating to the <br />execution and delivery of the Additional Certificates; and (4) interest during the estimated period of <br />acquisition and construction, all as described under "SUMMARY OF CERTAIN PROVISIONS OF THE <br />INDENTURE -- Additional Certificates" in Appendix A hereto. All Additional Certificates will be <br />secured by the lien of the Indenture and will rank on a parity with the Certificates and any Additional <br />Certificates. Unless provided otherwise in a supplement to the Indenture, any Additional Certificates will be <br />in substantially the same form as the Certificates, but will bear such date or dates, bear such interest rate or <br /> <br />-10- <br /> <br /> <br />