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such bands bo be issued against unfunded net property addiHo~ as pro-
vided 'm Article N o~ the Original Indenture, as ameaded.
S~c~nox 10. T'6e Company agrees that a) it will at all ~ main-
tain, pre~rve and keep the mortgaged and pledged pmperty, vvith the
aPPurtena'°cas and every part and parcel thereof, in good repair. vv~o~rk-
iag a~de~ and oondition and equipped wtth suitable equipameat and ap-
plisnces and m aa.~ordance with tl~e accepted standards and require-
ments of the Pt~blic Service Commissiou of Florida; (b) upo~~ writtea
request by hold~rs of ar least 25l6 in pcincip*~ amaunt of Series N bonds
- thea outscanding ( during a three-year period beginning neo~nnber 1,
. 1970) the Company will have its properties inspected by. an ~
cr a firm af eng~neers ( sele~.ted by the Bo~rd af Dlrectaars and
acceptable to tbe Treistee) who will, at the Company's ezpenae, file a ~
wrttten report with the Trustee, stating the estent to whieh the
Co~npany's gmperties have been mainmined in eoamplianoe vvitL tLis
oaveaant Copies ~ tbe repo~rt w~ll be mailed to each o~ tbe Sm~ies N
boandhol~ders withm 10 days after tLe report is ffied with the 15~osbee,
The provjsions of tLis Sec.•tion 10 shall apply in respect of ra~uii+~ts
relatmg M Series N bonclrt' while any bonds of sueh ~ ac+e outstaad-
mg hereunder and shall be instead and in lieu of any other require~meat
f~ the applicaHon of revenues for the maintenan~e, repair, rez~e~val and
replaoement of mortgaged and pledged property which may othervvise
be required under Section 40 of the Original Indentune. ~
S~crtorr 11. The Company shall be authorized to declaze and pay clivi- -
dends to its stocicholders of reQOrd provided that the sum of ( a). cash ~
divicie~da an capital stock subsequent to December 31, 1996 aad (b)
net redemptions of capital ~ stock subsequent to Deoember 10, 1970, shall
not esoeed tLe sam of net inc;ome accn~ed subeequent to Deoemnber 31,
1999, p}us ;750,000.00. Provided, however, ihat notwithstaa?ding the fare-
goiug limi~a, the company may, in any year, bnt no# ez~oeeding two
(S) years in the aggregate, pay dividends on preferred stock at any tiine
outttanding from income .earned priar to Dec~ember 31, 19~. . -
4-~ ~ `~1~~2152
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