SECTION 4.08. Compliance with Law. Al: of the Company's properties and ail of its
Operations, are in compliance in ail material respects with 2] Laws. Without limiting the foregoing, al!
property owned or leased by the Company, all property proposed fo be acquired with the proceeds of the
Promissory Note and Supplement, and ali operations conducted thereon on al! such property, are in
compliance in ail material respects with ali Laws relating to the environment
SECTION 4.09. Environment. Except as disclosed in any application submitted in
connection with the Promissory Note and Supplement: (A) no property owned or leased by the Company
is being used. or to its knowledye, has been used for the disposal, treatment, storage, processing or
handling of hazardous waste or materials (as defined under any applicable environmental Law); (B) no
investigation, clam, litigation, proceedings, order, judgment, decree, settlement, Lien or the like with
respect ta any environmental matter is praposed, threatened, anticipated or in existence with respect to
the properties or eperations af the Company; and (C)no environmental contamination or condition
currently exists on any property of the Company which could delay the sale or other disposition of such
property or could havc, or already has had, en adverse effect an the value of such property.
SECTION 4.10, ERISA, All plans (“ERISA Plans”) of a type deseribed in Section 343) of
ERISA in respect of which Company is an “Iimployer”, as defined in Section 3(5) of FRISA, are, ic the
best knowledge of the Company, in substantial compliance with ERISA, and none of such ERISA Plans
's insolvent or in reorganization, or has an accumulated or waived funding deficiency within the meaning
cf Section 412 of the Internal Revenue Code. The Company has not incurred any material lability
{including any material contingent frability) to or on account af any such ERISA Plan pursuant to
Sections 4062, 4063, 4064, 4201 or 4204 of ERISA. No proceedings have been instituted to terminate
any such ERISA Pian.
SECTION 4.11. Consents and Approvals. Except for such as shall have been obtained and
are in full force and cffect. no consent, permission, authorization, order or license of any governmental
authority or of any party to any agreement to which the Company is a party or by which it or any of its
property may be bound or affected, is necessary in connection with: (A) the execution, delivery,
performance or enforcement of the Loan Documents; and (B} the project, acquisition, or other activity
being financed by the Promissory Note and Supplement.
SECTION 4.12. Conflicting Agreements. None of the Loan Documents canflicts with, or
constitutes (with or without the giving of notice and’or the passage of time andor the occurrence of any
other condition) a default under, any other agreement to which the Company is or expects to become a
party or by which the Company or any of its properties may be bound or affected, and do not conflict
with any provision of the articles of incorporation, bylaws, or other organizational documents of the
Company.
SECTION 4.13. Compliance and No Default. (he Company is operating its business in
compliance with all of the terms of the Loan Documents, and no Default or Event of Default exists.
SECTION 4.14, Applications. Each representation and warranty and all tnformation set
forth in the application submitted in connection with, or to induce CoBank to enter into, the Promissory
Note and Supplement is correct in all material respects.
SECTION 4.15. Budgets, Etc. Al! budgets, projections, feasibiliry studies, and other
goecumentation submitted by or on behalf of the Company te CeBank in connection with, or to induce
CoBank ta enter into, the Promissory Note and Supplement, are based upon assumptions that are
