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<br />t <br /> <br />9 ~;:-- (p <br /> <br />County's M~rtgages and Indentures of Trust; and <br /> <br />~ <br /> <br />WHEREAS, the items of real and personal property of the projects were <br /> <br />~ <br /> <br />leased to Chief Indust~ies, Inc; and <br /> <br />WHEREAS, the lease and agreement between the County of Hall, as <br /> <br />lessor, and Chief Industries, Inc., as lessee, granted lessee 'the option to <br /> <br />purchase the project property upon deposit with the trustee, National Bank <br /> <br />of Commence Trust and Savings Association, the sum of One Dollar ($1.00) <br /> <br />plus such additional amount which, with all other funds available <br /> <br />therefore, would be sufficient to provide for payment in full of all bonds <br /> <br />in conformity with the mortgages and all other obligations incurred or to <br /> <br />be incurred by the County in connection with the project property and under <br /> <br />the mortgage and lease; and <br /> <br />WHEREAS, Chief Industr ies, Inc. has given notice of its election to <br /> <br />exercise its option to purchase the project property, and <br /> <br />WHEREAS, Chief Industries, Inc. has arranged with the trustee National <br /> <br />Bank of Corcanerce Trust and Savings Assocation to deposit with' the, trustee a <br /> <br />sum sufficient to redeem and pay the principal and interest on all bonds <br /> <br />now outstanding and to pay such other expenses as set forth in the Mortgage <br /> <br />and Lease. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF HALL <br /> <br />COUNTY, NEBRASKA, that, finding that Chief Industries, Inc. has elected to <br /> <br />exercise its option to purchase the property of the projects and, <br /> <br />contingent upon sufficient funds being deposited with the trustee for the <br /> <br />redemption and payment of such bonds, the Chairman of the County Board of <br /> <br />SUpervisors and the County Clerk are hereby each authorized ,and directed, <br /> <br />for and in the name and on the behalf of Hall County, to execute such <br /> <br />deeds, ti t~le of sale, and UCC termination statements as are necessary to <br /> <br />convey, transfer and dispose of the' real property of the proj ects, as <br /> <br />described in exhibit A which is attached hereto and incorporated herein, <br /> <br />and the personal property of the projects to the lessee, Chief Industries, <br /> <br />Inc. <br /> <br />PASSED AND APPROVED THIS 14th DAY OF JANUARY, 1992. <br /> <br />BOARD OF SUPERVISORS OF <br />HALL COUNTY, NEBRASKA, <br /> <br /> <br /> <br />By: <br /> <br />~ <br /> <br />I <br />t <br />, <br />; <br />I <br />I <br />J <br /> <br />I <br />I <br />