Agmt15 Raymond James and Assoc. Port of RWC sale of refunding bonds

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Section 4.7. Eminent Domain Proceeds. If all or any part of the Enterprise shal!be taken by eminent domain proceedings,then,subject to the following sentence and thc fol)owing paragraph,the net pr�ceeds realized by the Port therefrom shal I be deposited by the Porl with the"frustee in a sptcial fund which the Trustee shall establish as needed in trust and applied by the Port to the cost of acquiring and constructing additions,betterments,extensions or improvements to the Enterprise if(A)the Port first secures and files with the Trustee a Certificate of the Port showing(i)the loss in annual Revenues, if any, suffered,or to be suffered,by the Port by reason of such eminent domain proceedings,(ii)a general description of ihe additions,betterments,extensions or improvements to the Enterprise then proposed to be acquired and constructed by ihe Port from such proceeds,and (iii)an estimate of the additional Revenues to be derived from such additions,betterments,extensions or improvemenu;and (B) the Trustee has been furnished a Certificate of the Port certifying that such additional Revenues will sufticientlyof�'set the loss of Revenues resultingfrom such eminent domain proceedingsso that the ability of the Port to meet its obligations hereunder will not be substantially impaired, and such � Certific�te of the Port shall be finaf and conclusive�and any balance of such proceeds not required by the Port for such purpose shall be deposited in thc Revenue Fund and applied as provided in Section 3.3 heceof. If the foregoing conditions are not met, then, subject to the following paragraph, such net proceeds shall be allocated by the Trustee among the Bonds,the Contracts,and the Parity Repayment Obligations on a pro rata basis in proportion to the then outstanding principal amounts thereof. Amounts so allocated to the Eionds shall be transferred by the Trustee to the Interest Funds,Principal Punds,and Sinking E'unds from time to time so as to pay principal of and interest on the Bonds as they shall becorne due. Amounts so allocated to the Contracts or the Parity Repayment Obligations shnll be transferred by the Trustee to the obligees with respect to Contrscts and Parity Repayment Obligations from time to time so as to pay amounts payable by the PoR thereundcras they shall bccome due. Notwithstanding the prior paragraph, if such eminent domain proceedings have not had a material adverse affect upon the Revenues and the security of the Bonds,and a Certificate of the Port to such effect has been filed with the Trustee, then the Port shall forthwith deposit such proceeds in the Revenue Fund,to be applied as provided in Section 3.3 hereof: Section 4.8. Amounts of Rates,Fees and Charees. (a) The Port will, at all times while any of the Bonds remain Outstanding� fix, prescribe and collect rates, fees, tolls and charges, rentals for leases, permits and franchises, and compensation or fees for franchises and licenses,and manage the operation of the Enterprise for each Fiscal Year so as to yield Revenues at least sufficient, aRer making reasonable allowances for contingenciesand errors in the estimates,to pay the followingamountsduring such Fiscal Year: (i) All current Maintenance and Operation Costs. � (ii) 'The interest on and principal ot'and Sinking Fund lnstallments for the Bonds,the payments for the Contracts and the Repayment Obligetions and the payment ofthc SubordinateObligationsas they become due and payable. (iii) All payments required for compliance with the terms hereof,including restoration of the Reserve Fund to an amount equal to the Reserve Fund Requirement. I 2094.912293 I.0005 34