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<br />I <br /> <br />t <br /> <br />I <br /> <br />e <br /> <br />e <br /> <br />for the construction of certain specified and approved <br /> <br />sanitary sewer facilities. In accordance with the terms of <br /> <br />such grant, the District hereby covenants and agrees, within <br />a reasonable time after completion of such construction, (a) <br />to submit lias built" plans of such facilities, (b) to furnish <br />to the Development. Board a complete and accurate accounting <br />of the total cost thereof, and, if the cost of construction <br /> <br />of said facilities as estimated in the grant of financial <br />assistance exceeds the actual total cost thereof, (c) to pay <br /> <br />to the Development Board a sum of money equal to (i) the <br /> <br />amount by which the estimated cost exceeds the actual cost, <br /> <br />rounded down to the nearest multiple of $5,000 (hereafter <br /> <br />called the "Excess Cost Am~unt"), plus (ii) interest on the <br />Excess Cost Amount computed from the last interest payment <br /> <br />date on the Bonds to the date of payment of the Excess Cost <br />Amount calculated at the interest rate on the Bonds, upon <br />delivery to the District of a Bond or Bonds (with all unac- <br />crued interest coupons attached) in principal amount equal <br /> <br />to the Excess Cost Amount. <br /> <br />section 16. That this Order shal1 become effec- <br /> <br />tive and be in full force upon and after its adoption, and <br />it is so ordered. <br /> <br />PASSED AND APPROVED this 8th day of October, <br /> <br />1979. <br /> <br />President, Board of Directors <br />Spenwick Place Municipal Utility <br />District <br /> <br />ATTEST: <br /> <br />Secretary, Board of Directors <br />Spenwick Place Municipal Utility <br />District <br /> <br />. (SEAL) <br /> <br />-15- <br />