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Owners of the Bonds. The Company consents to such assignment. The Issuer hereby
<br />directs the Company and the Company hereby agrees to pay to the Trustee at the
<br />Trustee's office which is at the address shown in or pursuant to Section I3.04 of the
<br />Indenture, all payments payable by the Company pursuant to this Section 4.2(a);
<br />provided, however, that amounts transferred from the Revenue Fund to the Bond Fund
<br />pursuant to Section 5.04(a) of the Indenture shall be credited against the payments
<br />required under this Section 4.2(a).
<br />(b) Issuer Fee and Issuer's Expenses. In addition to any other payments
<br />required hereunder, the Company shall pay the following amounts to the Issuer in
<br />immediately available funds on the due date thereof (or, if there is not due date with
<br />respect to such payment, then upon demand of the Issuer): (i) all reasonable expenses
<br />paid or incurred by the Issuer in connection with the transactions contemplated by the
<br />Bonds and this Loan Agreement, including any legal, accounting, financial, or other costs
<br />paid or incurred by the Issuer; (ii) all costs and expenses, including without limitation,
<br />attorneys' fees, paid or incurred by the Issuer in connection with (A) the discussion,
<br />negotiation, preparation, approval, execution and delivery, and amendments or
<br />modifications of the Bonds, the Indenture, this Loan Agreement, and the documents and
<br />instruments related hereto or thereto, (B) the enforcement by the Issuer during the term
<br />hereof or thereafter of any of the rights or remedies of the Issuer hereunder or under the
<br />foregoing documents, or any document, instrument, or agreement related hereto or
<br />thereto, and (C) an audit, random or otherwise, by the Internal Revenue Service, the
<br />Minnesota Department of Revenue, or another department of office of the State with
<br />respect to the Bonds, the Company, the School, or the Project; and (ii) the Issuer Fee, on
<br />the Date of Issuance of the Bonds, equal to $25,000.
<br />(c) Trustee's Expenses. The Company will also pay the reasonable fees and
<br />expenses of the Trustee (including reasonable fees and expenses of counsel to the Trustee
<br />and including such reasonable fees and expenses in any Event of Default) and any paying
<br />agents under the Indenture, such reasonable fees and expenses to be paid directly to the
<br />Trustee or any paying agents for the Trustee's or any such paying agents' own account as
<br />and when such reasonable fees and expenses become due and payable, and any
<br />reasonable expenses in connection with any redemption of the Bonds.
<br />(d) Reserve Fund. In addition, the Company agrees to pay to the Trustee for
<br />deposit in the Reserve Fund an amount equal to any deficiency in the Reserve Fund, as
<br />determined by the Trustee pursuant to Section 5.12 of the Indenture, such amount to be
<br />paid (i) within 30 days after written notice from the Trustee if the deficiency is
<br />determined as a result of a determination of its Value, or (ii) if the deficiency is the result
<br />of a withdrawal for transfer to the Bond Fund or the Rebate Fund, within 90 days of such
<br />withdrawal; provided, however, that amounts transferred from the Revenue Fund to the
<br />Reserve Fund pursuant to Section 5.04(b) of the Indenture shall be credited against the
<br />payments required under this Section 4.2(d).
<br />(e) Late Payments. In the event the Company should fail to make any of the
<br />payments required in this Section, the item or installment so in default shall continue as
<br />an obligation of the Company until the amount in default shall have been fully paid, and
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