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Compensation and Liability Act of 1980 ("CERCLA"), or the Federal Resource
<br /> Conservation and Recovery Act of 1976 ("RCRA") or the Minnesota Environmental
<br /> Response and Liability Act, Minn. Stat. Chapter I I5A ("MERLA"), or any other federal,
<br /> state or local environmental laws, statutes, regulations, requirements and ordinances
<br /> ("Hazardous Materials"); (ii)that, except as disclosed to the Trustee in writing on or prior
<br /> to the Bond Closing, there have been no investigations or reports involving the School or
<br /> the School Facilities (while previously occupied by the School) by any governmental
<br /> authority which in any way pertain to Hazardous Materials; (iii) that the operation of the
<br /> School Facilities by the School has not violated, is not currently violating, and will not
<br /> violate any federal, state or local law, regulation, ordinance or requirement governing
<br /> Hazardous Materials; (iv) that the School Facilities are not listed in the United States
<br /> Environmental Protection Agency's National Priorities List of Hazardous Waste Sites nor
<br /> any other list,schedule,log,inventory or record of Hazardous Materials or hazardous waste
<br /> sites,whether maintained by the United States Government or by any state or local agency;
<br /> and (v) that the School Facilities do not contain any urea formaldehyde foam or asbestos,
<br /> except as disclosed in a phase one environmental assessment prior to the Bond Closing.
<br /> The Company covenants and agrees that, except for uses in compliance with applicable
<br /> environmental laws, it will not use or permit the School Facilities to be used, whether
<br /> directly or through contractors, agents or tenants, for the generating, transporting, treating,
<br /> storage, manufacture, emission of, or disposal of any Hazardous Materials, or in violation
<br /> of any federal, state or local law, regulation, ordinance or requirement governing
<br /> Hazardous Materials. The Company agrees to indemnify and reimburse the Trustee and its
<br /> respective successors and assigns, for any loss, damage, expense or costs resulting from a
<br /> breach of these representations and warranties and from any loss, damage, expense or cost
<br /> arising out of or incurred by the Issuer or the Trustee which is a result of a breach,
<br /> misstatement of or misrepresentation of the above covenants, representations and
<br /> warranties, together with all attorneys' fees incurred in connection with the defense of any
<br /> action against the Trustee arising out of the above. These covenants, representations and
<br /> warranties are for the benefit of the Trustee and any other successor or assign of the
<br /> Trustee, and shall be deemed to survive termination of this Agreement and any resignation
<br /> or removal of the Trustee.
<br /> (k) No "Event of Default" or any event which, with the giving of notice or the
<br /> lapse of time, or both, would constitute an "Event of Default" under the Indenture, has
<br /> occurred or is continuing.
<br /> (1) There is not pending any suit, action, or proceeding against the Company
<br /> before or by any court, arbitrator, administrative agency, or other governmental authority
<br /> which materially and adversely affects the validity, as to the Company, of any of the
<br /> transactions contemplated by this Loan Agreement, or the ability of the Company to
<br /> perform its obligations hereunder or thereunder or as contemplated by this Loan
<br /> Agreement.
<br /> (m) The proceeds of the Series 2022 Bonds shall be applied to the payment of
<br /> capital and other costs of the 2022 Project, as required by the Act.
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