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1 <br /> 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 charges formally adopted by the <br /> Contractor through its Board of Trustees, as may be modified from time to time. The initial <br /> rate schedule must be approved in writing by the State before any uch charges are initially <br /> assessed. Thereafter, the Contractor may, subject to the approv , Itt S ; - make such <br /> modifications to the rate schedule as the Contractor deems n ss..4 o.` r+ tl and <br /> economically provide for the financial requirements oft -.. stem, inc • ' ; p.. :tit of <br /> the State, as long as the rate schedule remains reasonab i }_ • .n criminatory. <br /> 9. ' rsuant to its By-Laws, adjust its operating costs an. s: x• h �,.s • • levy <br /> assessm:nts from time to time as necessary, upon written notice from the • ,. .r v vide <br /> sufficien funds for adequate operation and maintenance, emergency repair se •ces, <br /> obsoles -nce reserves, and debt reserves, and to assure repayment of the project loan o the <br /> State as provided herein. <br /> 10. Pursuant to its By-Laws, have its Board of Trustees take all necessary a,tions <br /> consiste 1 t therewith to adopt an order or a resolution authorizing the Contractor to co tract <br /> this boa debt, and authorizing the President and Secretary to pay the indebtedness. Such <br /> orders s all be attached hereto as Exhibit A and included herein. The Contractor by a <br /> majori vote of its Board of Trustees, shall also authorize the Deed of Trust se rity <br /> interest required by the State in paragraph A.14. below. Such authorization sh. 1 be <br /> attache. hereto and incorporated herein as Exhibit B. The above conditions m st be <br /> perfo d 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, shal take <br /> all nece sary actions consistent therewith to levy assessments to raise sufficient funds o pay <br /> this co ract loan debt in a timely manner and as required by the terms and con.itions <br /> herein o assure repayment of the project loan to the State. In the event th•t the <br /> assessm nt(s) levied by the Contractor, or the revenues resulting therefrom, are or 13,come <br /> insuffici-nt to assure repayment to the State as required by the terms and conditions -rein, <br /> then th, Contractor, upon written notice thereof from the State, shall immediately e all <br /> necess. action consistent with its By-Laws, including but not limited to add' ional <br /> assess nts, 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 1 ermit <br /> periodi inspections of its operations and accounts by a designated representative •f the <br /> State. <br /> 13. epay to the State the total sum of One Hundred Sixty-Six Thousand Six H ndred <br /> Eighty 1 ollars and Eighty Cents($166,680.80),which includes the project loan amou t with <br /> interest at the rate of five percent (5%) per annum, said repayment to be made in c• tant <br /> annual nstallments 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 heret. and <br /> incorp ili ated by reference herein, which first installment shall be due and payable •n the <br /> first da of the month next succeeding the month in which the State determines t at the <br /> Page 4 of 11 pages <br />