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•J <br /> 080384/45311 <br /> shall survive issuance of the Bonds and continue during the <br /> life of the Bonds , and as provided in the Loan Agreement . <br /> 12 . Purpose and Effect . The Bonds are to be issued, sold <br /> and delivered under authority of the Act and all related ac- <br /> tions and documents shall be in conformity therewith. The <br /> Issuer intends this Agreement to Issue Bonds to be its official <br /> binding commitment , pursuant to the terms hereof , to use its <br /> best efforts to issue the Bonds up to $5, 000 , 000 aggregate <br /> principal amount . <br /> The Issuer considers this Agreement to be an official ac- <br /> tion of the Issuer , acting by and through the Board of Direc- <br /> tors , toward the issuance of the Bonds in accordance with the <br /> purposes of the Act and Section 1 . 103-8(a) ( 5) ( iii) of the Fed- <br /> eral Income Tax Regulations . <br /> INDUSTRIAL DEVELOPMENT CORPORATION <br /> OF THE PORT OF EVERETT <br /> [SEAL] By <br /> Alan W. Johnson <br /> President <br /> Attest : <br /> By <br /> James M. Hayes <br /> Secretary <br /> NORTON INDUSTRIES , INC. <br /> By <br /> John B. Schack <br /> President <br /> -9- <br />