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<br /> ' aay o� tha othor Saauxity Dooumflr►to, c�olivex Co Fianaf�.�i�x�y A � �� , �
<br /> � ����er or croait (horoinaltpr dutinod� Qe�ur�l t� th� Aum af (i) thq , ',
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<br />.._._._ __... . _.. � then ou��tr�nd�ng D�bt, (iij tha Promium w,hiah w�ould �he» bo dun i�
<br /> _j �he No�a h�d been pre�Oai� and (i ii) t�hu �gr�es�gate c�um �� �he aext � .- --_----- ._.-
<br /> � � J twalve (12) mon�hly paymente ofl prinoipol ottd f����e�� ciuo ur►de�
<br /> _- -- : :° . -� th� No�a. � ; ...
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<br /> � � �n tha avonC Grantor �Mall have del�.vered tiha �,e�ter Q� � ,
<br /> � C's�edit in �a�ordsnae with eubpaxa��a�� 5�b� (��) �bave,
<br /> • l.��ne�iaiary shall lae parmit�ad �o mia3�� �a��tit��. clraws upon xhe
<br /> � �,etter oP Credit in an amount aqual �o the monChly prinaipal �nd
<br /> irtte�eat payment then du� under �the Not� on xho loth day oP eACh
<br /> af �he next suaaeeding olaven (19�) aal�ndar montha immoclla�alX
<br /> followi�g the dalivery a� tihe L����r o� Cradit. HenePiciary shall ,. .. � ,�
<br /> apply �he pr�aAads of eaah suoh draw �owr�rd til�e payment o� thc� • .
<br /> � monthly prina�pal and in�ere�� paym�nt then due. In tho event .
<br /> � asAntor ehall hdva repeid the Dabt in Pull, including �he ! ,. ,-�
<br /> � Pxemium, i� e+ny, 8t e�y tint� prior to xhe 10�h d�� of thc� �welf�h ! � •
<br /> (12th) Pul.l a�lendar m�n�h �ollow�ng t�he delivary of the Letter of �
<br /> � crec�it, BenePioiary ehe�il re�urn �rie Letter ot Credit to the � � � �
<br /> Gr��tax. Notwithe�ending �he above� in Che ovant (i) Gxantor � '
<br /> ehall heve leiled ta r�pay the Deb� in Puii, inoluding tihe Premium f
<br /> if a�ny, in lull prio� to the lOth day oP the twelPth (i2�h) Pull ;
<br /> aalenda�r month lollowing the dolivory oP th� Ldt�or aP Credit or �
<br /> (11) an Event o! pefaul� shdll have ocaurr�id anal l�e aox�tinuing ;
<br /> under this Daed oQ Trus�, �he Nd�e or� ayly o� �lia O�he� Seau�ity ; � -
<br /> � Doouments, Beneficiary ehall be permitted to immediately draw upon • '
<br /> the Letter of Credit in Pull and apply tho proaeade thoreoP to the �
<br /> paymen� oP al� eums outetanding under �he Note, this Deed oP Truati
<br /> and any Ot�ar Seaurity Doaum�nts, inaluding, without limitat�oa�, �
<br /> the Premium. Grantor acknowledgoa and agreee that �he Letter o� �
<br /> - - - t.redi� ie �o i�d �'it�Iu i�ji i 1io SaiaGi�v3oi3t a8 add3tian�3 oC33�3t}' �.^.� �- ---
<br /> the repayment oP the Debt. � •
<br /> ..--�-.. �_..-_ � Th� t�r� '�Letter �f �re��ta aha 17 mc�an a a]A�n� �
<br /> � irrevoaable, uncanditional letter of or�di� i� FoYt�, eoopa a�d �
<br /> aubatanae reasonabl7� satiafactory to Benetioiary, which lotter oP
<br /> � credit shall be iseued by a commeroial bank acaeptable to �
<br /> Benafiaiary and rated by 8tanolard & Poor'a Coxporation ar Moody's
<br /> Invea�ore 9erviae� Ina. (ao�lectively, the ��Rating Aqenay��) �'19�A°f
<br /> ar battor, shall be payable upa�n demand ta Henefioiary or oth�er
<br /> beneffcaary designated by Henoficiary upan dalivery oP an
<br /> � unoonditional aight draft to loe presented at a New York City
<br /> � ( commeroial banlc acce�table to B�neSiaiary, ehall have an
<br /> � expiration date no earlier �han fourteen (14) months fram delivery
<br /> � of suoh letter oP oredit to HonefialarX, shall provide that
<br /> � 8enefioiary shall be permitted �o make as many partial drawa as it
<br /> daema neceaaary, and shall aontain a apeoiPia waiver by �he iasuer
<br /> � o� any right to a waiting peri��i Ariaing under the New York
<br /> . UniPorm Commeraial Gode or the �n�form Cuetam and Praotice �or
<br /> Doaumentary Credite.
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