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Home My WebLink About1818 A ~ . ~ • ~ ~ ~ ' ~ ` . ' • }[L ~ • ' • ? • ' ~ p . . , ~ Y. . ~ ~ , • ~ ' • ~ , . i ~ . . . • . ' • ' i ' ~ ~ . ~ . . • . ~ . ' . ~ S ~ ~ • ~ . . . . . . . ~ C ' . . ~ , ~ ' . ~ • . . • • ~ti s y,: i s.1~,.4ti: ..~~~i:.~~i:iS~"~iii~r' ~~.;r~ i~~ '.~i ~L~i~4.s-.~= t::s_' L.~ ttfL ;~i' tt3)•'• t~~.a~'. ; ti s~ r-=r~~t~~y i•~. ~~t : s 3 1 ? ~ ! ~ r. ~ ~ v.,~ , ~ t - , ~ j ~ s ~ ~ ~ F ~ ~scriox 3.15. The Company H•ill car~y on aud eftiaiently oonduot tho bueinc~ss of a ga9~ ~vater ~nd eewer # utili~y and bueinee~ incidental to ~nd in furtherance theroof, and will not engage in any other bue~ine~ except ~ ~ that of diapoeing of ite pc+esently owned non-utility pmperty; the Company will at alt timee h~?ve and main- • E. tsin a eouroe or eources of gas and wat,er aupply And fsuilitiee snd equip~nent to obt~?in euch gas and w~ter ' , sdequste to eerve the reASOntibly antieipated requirpment,g of ita cuetomara; all property, plante, applianc~e, ; systems and equipn~ent of tlie Com an useful and necessar in the car g y, y ryuig on of its buainesa will be kept in thorough repair aud maintained in a atate of high: operating efficiency corresponding to the progress of the = industry. In the event that the examination and repbrt in respect ta the maintenance of the phyeical property = of the Company as pravided for in Section 3.14 indicatea thst expe~iditure~ for tha maintenance of the phyaical ~ property have been inadequate, the Company oovenanta that it will forth~sith, but in any event within 12 ~ ~ months from the date of the report, expend on its~property an amaunt which is required to elin~inate the ~ deficiencies as found by the examining engineer and thereafter will expend annually for maintenance suoh a aum • ~ : or aums as witl lxj requued to prevent a recurrence of a condition of under-maintena~ice as found in the examina- ~ ± tion made pursuant to Section 3.14. The Company' now ha,e camplete and lawful authority and privilege to i maintain and operate its entire plants aiad progertiea, and none of its rights, franehi~es or privileges will be ~ altovred to lspse or be forfeited so loug as the sama ~all bc necessa~ry for the carrying on of its bueineas; pro- ] vided, however, that (a) the expiration by lapse of ti~ae of any right, franchise or privilt~ge ehall not constitute a ~ violation of thia covenant, but the Company will exeruise ita best endeavora and any and every proper meana to procure exteneion or renewal of each and every gucb, right, fre?nchiso or privilege ~o expiring and neoe~sary or deeirable for the ma~intenance of any of its plante, pibpertiee or systeme, and (b) that any fotfeiture Bhall not ~ constitute a violation of thia covenant if the same i~ being contested by the Compauy in goosi faith and the ~ Company shall continue to render eervice and colleat ita rat~ee and charges therefor. The Company wiU duly observe ~nd conform to all valid requiremcnts of any governmentat authority relative ta any of the mortgaged pmperty and all covenants, terma and conditions upon ar ander whieh any progerty rights Qr franchieee covered ~ hereby are held, provided that the Company in good faith may contest the validity oi any suoh governmen- tal requirements. : ~ • ~ S~ertox 3.18. The Company will keep or will cause to be lcept the mortgaged property ineured against ~ ; deatruetiou or damage by fire or othQr accident or haaard, t~? the extent and in the manner usually ineured by ' ' compani~es operating ~imilar properties, to it$ reaaoi~able ineurable value in reapoc~ible insuranoe oompanies, ' loeses, if any, to be made payable to the Z`rusteE ae it$ intereat may appe~r. in c~e o~ any default by t.he Com- pany in fulfilling ite oovenant to ineure, the Truatee tnay at its option ei~ect such inswrawoe in the nana8 af the i. Company or in ths nune of the ~ustte:ee and sll r~onsy paid by tlie Trustee gor such insuranoe shall be repaid by ~ the Comgany on demand and if nat eo paid shall become a lien prior to the lien of f.hia indentura aud i~e paid oay << of the procE,eds of any sale of said mortgaged propeirty. Upon the hsppening of any loes or dernage oovered f. by i~,surance, the Compa~iy ahall make due proof of Ioas containing a power of attorney in fsvar of the Tn~stea ~ ta endoree alI draf~ drawn for the p ayment thereaf to the order of the Trustee and to aign receipts therefor ~ and a6ali tio all thing,s n~ry or d~irable to cauee the inauring compaxuee to make p~yment in full direcWy r to t~he Trustee, whiah payment to the Truetee ia herQby authorized. Tn caee of any loss covere~i by a,uy poliey I of inaurauce any appraieement or adjvstment of eue~ loes, and eettlement ancl pe3rmeut of indeaanity thereior ? w}uch ehall be ~?greed upon between the i.nsured s~d the ipsurance oompany sball be acoepted by the ~uatee ; and the Tn~atee aball in no way be liabls for the adj(~stmsnt of sueh ~ea. The Z~ustea shalt not be under ~uy ; duty witJ~ respect to the maintenance of any insuranoe of the charaoter mentioned in thie eection ar the voUeu- ; tion or disposition of the pmc~eed$ thereof: , ~ ~ S~[ox 3.17. Any moneye in ezoees of ib,000 in s?ny one caae paid or paysb~e in reepeo~ of any I~ettt of the mortgaged property ~a insurauce proc~eds frora any iasurer of aueh property or a~ conapensatioa frotn sny municip~l or governmentAl autttoritY i?cquiring or damsging auch property, shsll 6e paid tq the Trustee ~ and held ae part of the morten8~ ProPertY ~ e~, u~~ Re9~,~ ~~P+~ ~o tho Companq: ' ~ ~ . . ' (a) to r~nburae the Compaqy for th~ r~eonsbJe oat of replaciag or r8pniru~g sueh ProP~Y~ ~n ~ ~ receipt of au Officaers' Cer~ificate atating that suoh replsoeraents or repaira bave beau mnde, the aotw?1 ~a$b1 5 ~ . ~ . ' 's: : 12 . . : . ~ . . R, . ~ ~.os F~F ~7 . ~ . _ . ._..f-.~...~.. . _ . _ _ , . . . ~.-:a~., .:~e~~r -.'la'Y. :t- '!t: ~ - ~.~N~21~i2}4~