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executed, and delivered, this Loan Agreement, this Loan Agreement constitutes, and the <br /> Governmental Agency Bond when delivered to the Authority will constitute, the legal, valid and <br /> binding obligations of the Governmental Agency in accordance with their respective terms; and <br /> the information contained under "Description of the Loan" on Exhibit B attached hereto and <br /> made a part hereof is true and accurate in all material respects. <br /> (b) Full Disclosure <br /> There is no fact that the Governmental Agency has not disclosed to the Authority in <br /> writing on the Governmental Agency's application for the Loan or otherwise that materially <br /> adversely affects the properties, activities, prospects, or condition (financial or otherwise) of the <br /> Governmental Agency or the System, or the ability of the Governmental Agency to make all <br /> Loan Repayments, or the ability of the Governmental Agency otherwise to observe and perform <br /> its duties, covenants, obligations, and agreements under this Loan Agreement and the <br /> Governmental Agency Bond. <br /> (c) Pending Litigation <br /> Except as disclosed to the Authority in writing, there are no proceedings pending, or, to <br /> the knowledge of the Governmental Agency threatened, against or affecting the Governmental <br /> Agency, in any court or before any governmental authority or arbitration board or tribunal that, if <br /> adversely determined, would materially adversely affect the properties, activities, prospects, or <br /> condition (financial or otherwise) of the Governmental Agency or the System, or the ability of <br /> the Governmental Agency to make all Loan Repayments, or the ability of the Governmental <br /> Agency otherwise to observe and perform its duties, covenants, obligations, and agreements <br /> under this Loan Agreement and the Governmental Agency Bond. <br /> (d) Compliance with Existing Laws and Agreements <br /> The authorization, execution, and delivery of this Loan Agreement and the Governmental <br /> Agency Bond by the Governmental Agency, the observance and performance by the <br /> Governmental Agency of its duties, covenants, obligations, and agreements thereunder, and the <br /> consummation of the transactions provided for in this Loan Agreement and in the Governmental <br /> Agency Bond; the compliance by the Governmental Agency with the provisions of this Loan <br /> Agreement and the Governmental Agency Bond; and the undertaking, completion, and operation <br /> of the Project will not result in any breach of any of the terms, conditions, or provisions of, or <br /> constitute a default under, or result in the creation or imposition of any lien, charge, or <br /> encumbrance upon, any property or assets of the Governmental Agency pursuant to any existing <br /> 6 <br />