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16.1 <br />To secure performance of its obligations hereunder, K—G the Owner -Participant hereby <br />grants and conveys to the Non -Owner Participant the-Ck-a security interest in the real <br />and personal property of the Joint Use Facilities. The parties agree to execute such <br />other documents as may be reasonably necessary to perfect the security interests <br />granted herein, (e -g., deeds of trust or financing statement). The security interests <br />granted by this Agreement may be exercised in the event of default by the non - <br />defaulting Participant and shall be subordinated to security interests subsequently <br />granted by a Participant in the ordinary course of financing a Participant's ordinary <br />business. <br />17 <br />Section 17 of the Joint Use Agreement is hereby terminated and shall be of no further <br />force or effect <br />18 <br />The Owner -Participant shall determine the types, coverages, forms and amount of <br />insurance to be carried on the Facilities. K -G The Owner -Participant shall maintain <br />such insurance. The Non -Owner Participant shall be endorsed as an additional named <br />insured in any policy insuring the Joint Use Facilities. If the Joint Use Facilities are <br />added to the Owner -Participant's K G'$ insurance for its other infrastructure the K—G <br />M44, and there is a resulting increase in K C's the Owner -Participant's premium, K ---G <br />the Owner -Participant may include the amount of any premium increase in the Annual <br />O&M Budget. <br />20 <br />The condition subsequent in Section 20 of the Joint Use Agreement has been satisfied <br />so such Section 20 is hereby tenninated and shall be of no further force or effect. <br />21.1 <br />All expenses submitted to the Participants the City shall be subject to inspection, audit <br />and copying by the other Participants Gity or its audit their authorized representatives <br />during nonnal K—G business hours. K -G The Participants shall each retain all of its <br />records of Joint Use Facilities costs and expenses for not less than three years after <br />final acceptance of any contracts let or awarded for the Joint Use Facilities. <br />19 <br />44 <br />