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8. Make the services of said project available within its capacity to all qualified persons <br /> in the Contractor's service area without discrimination as to race, color, religion, or natural <br /> origin at reasonable charges (including assessments,taxes, or fees),whether for one or more <br /> classes of service, in accordance with a schedule of such char •w; •. . adopted by the <br /> Contractor through its Board of Trustees, as may be modified ,m,* ` 'e '`+ The initial <br /> rate schedule must be approved in writing by the State •- ore any are initially <br /> assessed. Thereafter, the Contractor may, subject to t • i v of the Sta e, make such <br /> modifications to the rate schedule as the Contracto `` e >;:: n 4, fficiently and <br /> economically provide for the financial requirements of the syst ', i 1 r yment of <br /> the State, as long as the rate schedule remains reasonable and non- i c .`n' - s . <br /> 9. Pursuant to its By-Laws, adjust its operating costs and service charges and levy <br /> assessments from time to time as necessary, upon written notice from the State, to provide <br /> sufficient funds for adequate operation and maintenance, emergency repair services, <br /> obsolescence reserves, and debt reserves, and to assure repayment of the project loan to the <br /> State as provided herein. <br /> 10. Pursuant to its By-Laws, have its Board of Trustees take all necessary actions <br /> consistent therewith to adopt an order or a resolution authorizing the Contractor to contract <br /> this loan debt, and authorizing the President and Secretary to pay the indebtedness. Such <br /> orders shall be attached hereto as Exhibit A and included herein. The Contractor, by a <br /> majority vote of its Board of Trustees, shall also authorize the Deed of Trust security <br /> interest required by the State in paragraph A.14. below. Such authorization shall be <br /> attached hereto and incorporated herein as Exhibit B. The above conditions must be <br /> performed by the Contractor prior to the State performance under this contract. <br /> 11. Pursuant to its By-Laws the Contractor, through its Board of Trustees, shall take <br /> all necessary actions consistent therewith to levy assessments to raise sufficient funds to pay <br /> this contract loan debt in a timely manner and as required by the terms and conditions <br /> herein to assure repayment of the project loan to the State. In the event that the <br /> assessment(s) levied by the Contractor, or the revenues resulting therefrom, are or become <br /> insufficient to assure repayment to the State as required by the terms and conditions herein, <br /> then the Contractor, upon written notice thereof from the State, shall immediately take all <br /> necessary action consistent with its By-Laws, including but not limited to additional <br /> assessments, to raise sufficient revenue to assure repayment of the project loan to the State. <br /> 12. Provide the State with such periodic reports as the State may require and permit <br /> periodic inspections of its operations and accounts by a designated representative of the <br /> State. <br /> 13. Repay to the State the total sum of One Hundred Sixty-Six Thousand Six Hundred <br /> Eighty Dollars and Eighty Cents ($166,680.80),which includes the project loan amount with <br /> interest at the rate of five percent (5%) per annum, said repayment to be made in constant <br /> annual installments of Four Thousand One Hundred Sixty-Seven Dollars and Two Cents <br /> ($4,167.02) each, for forty (40) years, as shown in Exhibit C, attached hereto and <br /> incorporated by reference herein, which first installment shall be due and payable on the <br /> first day of the month next succeeding the month in which the State determines that the <br /> Page 4 of 11 pages <br />