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<br />.",:--, <br /> <br />the Contractor throuqh its BV-laws, as may be modified from time <br />to time. The initial rate schedule must be approved in writing <br />by the state before any such charges are initially assessed. <br />Thereafter, the Contractor may, subject to the approval of the <br />State, make such modifications to the rate schedule as the <br />Contractor deems necessary to efficiently and economically <br />provide for the financial requirements of the system, including <br />repayment of the state, as long as the rate schedule remains <br />reasonable and non-discriminatory. <br /> <br />And the Contractor agrees that it shall: <br /> <br />9. Pursuant to its BV-laws, adjust its operating costs and <br />service charges and levy assessments from time to time as <br />necessary, upon written notice from the State, to provide <br />sufficient funds for adequate operation and maintenance, <br />emergency repair services, obsolescence reserves, and debt <br />reserves, and to assure repayment of the project loan to the <br />State as provided herein. <br /> <br />10. Pursuant to its Articles of Incorporation and to its <br />By-laws, have its Board of Directors take all necessary actions <br />consistent therewith to adopt an order or a resolution <br />authorizing the Contractor to contract this loan debt, and <br />authorizing the President and the Secretary to pay the <br />indebtedness. Such orders shall be attached hereto as Exhibit A <br />and included herein. The Contractor, through a majority vote of <br />its stockholders, shall also authorize the deed of trust as <br />security required by the State in paragraph A.l4. below. Such <br />authorization shall be attached hereto and incorporated herein <br />as Exhibit B. The above conditions must be performed by the <br />Contractor prior to the State performance under this contract. <br /> <br />11. Pursuant to its Articles of Incorporation and to its <br /> <br />Page 6. of 17 Pages <br />