76005975 - Laserfiche WebLink

Browse

r: . � � � 'i'• f. � � . . . . . . .. . . , . , . . . . � . � . . . � ` � �� . � �. � � � � � �� . � � 76- Q 0 5 9 '7 5 AP.TICLE V . Revenues And Funds ' Section 501 . The Lessor covenants and agrees that it will not suffer , r� permit or take any nction or do anything or fail to take any action or fail to do anything which may result in the termination or cancellation of the 1.ease ; that it will ` fulfill its obligations and will require the Company to perform punctually its duties �k and obligations under the Lease and will otherwise Edminister the Lease in accordance x with its tena� to assure the continued operation , mnnagement , repair and mnintenance �,'- of the Demised Yremises by the Company , the Company ' s payment of the full rent thereunder R and the cosCs - � � expenses of operation , management , repair and maintenance thereof in -Fr accordance wit . �. he terms of the Lease ; that it will not cancel or terminate the Lease . ;� or cause it tc ue cancelled or terminated except in strict accordance with the terms � $ thereof ; that it will promptly notify the Trustee of any actual or alleged event of 3 defnult under or breach of the Lcase ; and will further notify the Trustee at least � Y thirty ( 30) days before the proposed date of effectiveness thereof of any proposed � :� termination , cancellaation , revision or amendment of the Lease ; that it will not give ;� �aritten notice to the Company of the termination of the Lease without the written '{ approval of the Trustee ; that it �aill give such written notice at the written request of �. the Trustee ; that it will not reenter and take possession of the Demised Pree�ises �nder kthe Lease without the prior approval of the Trustee ; that it will not execute or agree to any change , amendment or modification or supplement to the Lease , except as provided � in Sections 1� . 03 and 10 . 10 of the Lease , or except by written agreement duly executed `f by Lhe Lessor and the Company with the approval of the Trustee endorsed thereon or with � � the approval of the holders of not less [hen S1% in aggregate principal amount of the bonds then outstanding , evidenced in writing in such form as the Trustee shall prescribe and filed with the Trustee ; and that it will not agree to any abatement , reduction , = abrogation , waiver , diminution or other modification in any manner or to any extent ; whatsoever of the obligation of the Company to pay the rent as provided in the Lease ;.£ and to bear the costs of repair , maintenance , operation and insurance on the Demised . r Premises . ;� "� Section 502 . Tne Lessor covenants that in the event the Lease shall be " � terminated or cancelled or the Demised Premises shall be repossessed without termination ' of the Lease it will take prompt and reasonable action to assure that the rights and � ` interests of the holders of the bonds in the Demised Premises and Revenue are adequately � protected and will use its best efforts to enter into new leases or other agreements for the use of the Demised Premises , su6stantially similar in their terms and provisions to those of the Lease , in order to procure the maximum possible amount of Revenue ; pro- i vided , however , that any such new lease or other agreement may provide for the payment of x `i rents or charges less than the rents and charges prevailing under the Lease unless the ; Trustee shall in writing file objections thereto as being contrary to the best interest ' of the bondholders . ";� � Section 503 . A special fund is hereby created and designated "Village of Alda Industrial Development Revenue Bonds (TV Time Foods , Inc . - 1976 Project ) Bond Fnnd" . - =� The moneys in the Bond Fund shall be held in trust and applied as hereinafter provided and , pending such application , shall be subject to a lien and charge in favor f of the holders of the bonds issued and outstanding under this riortgage and for the further securiry of such holders until paid out or transferred as herein provided . ,;� � The Lessor covenants that it will cause to be paid by tne Company direc [ly < to the Trustee for deposit to the credit of the Bond Fund all accrued interest received upon sale of tlie Bonds , and all payme� ts of Basic Rent payable by the Company to the - : :z Lessor under the Lease , including sums sufficient to meet the Amortization Fequirements ry - :'_ in the years and in the amounts respectively , set forth in this .*tortgage . The Lessor `` i further covenants that • it will deposit or cause to be deposited �aith the Trustee to the credit of the Bond Fund , as received , all other moneys , such as moneys transferred : from the Construction Fund pursuant to Section 407 of this �fortgage and proceeds of ' ' ' insurance , condemnation awards , sales of property and other moneys that shall be _ available for payment of the IIonds . • The Lessor covenants that in the event of a cancellation by the Lessor of the Lease by reason of the default of the Company , all net revenues and net proceeds _ � derived by ehe Lessor from the leasing of the Uemised Yremises �o other lessees or from � �'' ' "`r � its ownership thereof , will be transmitted as received to the Trustee for deposit to t� ' ' the credit of the Bond Fund . a � �. ; � , � � t . � �-� ;� 4 �, . . . .. . . � `y . r ,'�LL�.S . � � � 4 L�