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Section 4.4 Maintenance and Modification of Schoolhouse by the Company. The
<br />Company agrees that at all times during the Term of Agreement, the Company will, at the
<br />Company's own expense, maintain, preserve and keep the Schoolhouse open as a schoolhouse,
<br />or pursuant to the Lease cause the School to maintain, preserve and keep the Schoolhouse, with
<br />the appurtenances and every part and parcel thereof, open as a schoolhouse and in good repair,
<br />working order and condition and that the Company will from time to time make or pursuant to
<br />the Lease cause the School to make all repairs, replacements and renewals deemed proper and
<br />necessary by it. The Company agrees that it will administer, maintain and operate the
<br />Schoolhouse, or pursuant to the Lease cause the School to administer, maintain and operate the
<br />Schoolhouse in a manner such that the Schoolhouse is open to members of the general public,
<br />free of discrimination based upon race, creed, color, sex or national origin.
<br />In addition, the Company shall have the privilege of remodeling the Schoolhouse or
<br />making substitutions, additions, modifications and improvements to the Schoolhouse from time
<br />to time as the Company, in its discretion, may deem to be desirable for the Company's or the
<br />School's use for such purposes as shall be permitted by the Act, the costs of which remodeling,
<br />substitutions, additions, modifications and improvements shall be paid by the Company, and the
<br />same shall be the property of the Company and be included under the terms of this Agreement
<br />and the Mortgage as part of the Schoolhouse and the Mortgaged Property, respectively;
<br />provided, however, that all such remodeling, substitutions, additions, modifications and
<br />improvements shall be done in a good and workmanlike manner and in compliance with all laws
<br />and the Schoolhouse, as remodeled, improved or altered, upon completion of such remodeling,
<br />substitutions, additions, modifications and improvements made pursuant to this Section shall be
<br />of a value not less than the fair market value of the Schoolhouse immediately prior to the
<br />remodeling or the making of substitutions, additions, modifications and improvements.
<br />Notwithstanding the foregoing, if such substitution, modification, addition or improvement shall
<br />require the expenditure of an amount greater than 25% of the insured value of the Schoolhouse
<br />(determined at the time such work commences), the Company shall, prior to initiating such
<br />substitution, modification, addition or improvement, provide the Trustee with a certificate from
<br />the Company Representative to the effect that based upon a financial feasibility study prepared
<br />by the Company Representative, such substitution, modification, addition or improvement will
<br />not materially diminish the amount of Lease Revenues from the Schoolhouse received by the
<br />Company or the amount of Adjusted Pledged Revenues during the next succeeding Fiscal Year
<br />from the level received in the last preceding Fiscal Year prior to such substitution, modification,
<br />addition or improvement. Any property for which a substitution or replacement is made
<br />pursuant to this Section may be disposed of by the Company in any manner and in the sole
<br />discretion of the Company. The Company will not permit any mechanic's or other lien to be
<br />established or remain against the Schoolhouse for labor or materials furnished in connection with
<br />any remodeling, substitutions, additions, modifications, improvements, repairs, renewals or
<br />replacements so made by the Company, provided that if the Company shall first notify the
<br />Trustee in writing of the Company's intention so to do, and no event of default or event which
<br />with the passage of time would be an event of default exists, the Company may in good faith,
<br />diligently contest any mechanic's or other lien filed or established against the Schoolhouse, and
<br />in such event may permit the items so contested to remain undischarged and unsatisfied during
<br />the period of such contest and any appeal therefrom unless in the opinion of Independent
<br />Counsel by nonpayment of any such items the lien of the Indenture as to the payments will be
<br />materially endangered or the Schoolhouse or any part thereof will be subject to loss or forfeiture,
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