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"Series 2013 Bonds" has the meaning set forth in the Indenture. "Trustee" means U.S. Bank National Association, or such other Trustee designated pursuant to the Indenture. "2006 Installment Purchase Contract" means the Installment Purchase Contract, dated as of February 1,2006,between the City and the Authority. "2007 Installment Purchase Contract" means the Installment Purchase Contract, dated as of May 1,2007, between the City and the Authority. "Water Service" means the service made available or provided by the Enterprise. ARTICLE II ACQUISTTION OF THE PROJECT Section 2.01. Purchase and Sale of the Project. The City represents and wairants that it is the owner of certain interests in the Project. The Authority hereby purchases from the City, and the City hereby sells to the Authority, the Project in accordance with the provisions of this Installment Purchase Contract. All right, title and interest in the Project shall immediately vest in the Authority on the Closing Date without further action on the part of the Authority or the City. On the Closing Date, the • Authority shall pay to the City, as and for the purchase price of the Project, the amount of $26,870,000,which amount shall be paid from the proceeds of the Bonds. The City hereby purchases from the.Authority, and the Authority hereby sells to the City, the Project in accordance with the provisions of this Installment Purchase Contract. Upon the Closing Date, all of the Authority's remaining interest in the Project, if any, shall be transferred to and vest in the City, without the necessity of any additional document or transfer. Nothing herein shall require the Authority to perform any obligations of any purchaser with respect to any contract or purchase order with respect to the Project. The City acknowledges and agrees that the Authority makes no representation or warranty, express or implied, as to the Project, except as expressly set forth in this Installment Purchase Contract. The City acknowledges that all risks relating to the Project or the transactions contemplated hereby or by the Indenture are to be borne by the City, and the benefits of any and all implied warranties and representations of the Authority are hereby waived by the City. Section 2.02. f Reservedl. Section 2.03. Indemnification and Expenses of Authori�. To the extent permitted by law, the City does heFeby assume liability for, and agrees to defend, indemnify, protect, save and keep hazmless the Authority and its directors, 6 338529_I.DOC