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200403826
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Last modified
10/16/2011 3:00:55 PM
Creation date
10/21/2005 12:45:10 AM
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DEEDS
Inst Number
200403826
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20040'3826 <br />ARTICLE XVI <br />REMEDIES TO BE CUMULATIVE <br />(No Implied Waiver) <br />To the fullest extent provided by applicable law (including principles of equity), Vendor and <br />Purchaser shall each be entitled to specific performance and injunctive or other equitable relief for any breach <br />or threatened breach of any of the provisions of this Contract for Purchase, notwithstanding the availability of <br />an adequate remedy at law, and each party hereby waives the right to raise such defense in any proceeding in <br />equity. The specific remedies provided for in this Contract for Purchase, to the fullest extent permitted by <br />applicable law, are cumulative and not exclusive of any other remedy. The failure of any party to insist in <br />any one or more cases upon strict performance shall not be construed as a waiver or relinquishment for the <br />future. No acceptance of payments with knowledge of any default shall be deemed a waiver of such default. <br />ARTICLE XVII <br />ASSIGNMENT OF CONTRACT FOR PURCHASE — AMENDMENTS - REMEDIES OF TRUSTEE <br />Purchaser accepts notice that this Contract for Purchase has been assigned and pledged to the <br />Trustee, and that the basic and additional payments payable to Vendor under this Contract for Purchase have <br />likewise been assigned to the Trustee to provide payment for and as security for the Building and Equipment <br />Bonds issued by Vendor; and Purchaser consents and agrees for the benefit of the Trustee and the registered <br />owners of said Bonds, that until payment of all said Bonds and interest thereon or until funds sufficient for <br />such payments have been duly provided, this Contract for Purchase may not be effectively amended, changed <br />or modified except as permitted by the Indenture, and that the Trustee has and may exercise all rights and <br />remedies of Vendor provided for in this Contract for Purchase, either in its own name or in the name of the <br />Vendor. <br />ARTICLE XVIII <br />TRANSFER TO PURCHASER <br />On the termination of this Contract for Purchase, if the Purchaser has paid all the basic <br />payments due to Vendor under the terms of this Contract for Purchase, title to the Project (not including the <br />Accessions which are governed as to matters of title by the provisions of Section 1.1 of Article I hereof) will <br />transfer to Purchaser, without further act of instrument, and, upon request by Purchaser, Vendor agrees by <br />good and sufficient instrument of transfer to confirm such transfer of title. Title to the Project, upon any such <br />payment in full of the basic payments due hereunder, shall be free and clear of all liens and encumbrances, <br />except any encumbrances caused by default of Purchaser hereunder or agreed to by Purchaser, and such <br />transfer shall be made without payment by Purchaser of any additional amounts or other consideration <br />therefor. In the event that Purchaser prepays basic payments in full as permitted under Article II in such <br />manner that all Bonds (including the Building and Equipment Bonds and any additional bonds) issued <br />pursuant to the Indenture have been fully satisfied and any and all additional payments then due have also <br />been paid in full prior to the expiration of the term of this Contract for Purchase, this Contract for Purchase <br />will thereupon be terminated and the Project shall transfer to the Purchaser in the same manner and on the <br />same conditions as above provided upon termination of this Contract for Purchase. <br />13 <br />
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