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200510856
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Last modified
3/4/2012 10:39:14 AM
Creation date
11/2/2005 12:06:03 PM
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DEEDS
Inst Number
200510856
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200510856 <br />Section 2.07. Each of the Building Bonds shall be executed on behalf of the <br />Corporation with the facsimile signatures of the President and Secretary and shall have the <br />Corporation's seal affixed thereto or imprinted thereon. Subject to the provisions of Section 2.11 <br />of this Article II, a supply of Building Bonds for issuance upon subsequent transfers or in the event <br />of partial redemption shall also be so executed and delivered to the Trustee. In the event that such <br />supply of bonds shall be insufficient to meet the requirements of the Trustee for issuance of <br />replacement Building Bonds upon transfer or partial redemption, the Corporation agrees to order <br />printed an additional supply of Building Bonds, and to direct their execution by manual or <br />facsimile signatures of its then duly qualified and acting President and Secretary and by having <br />affixed thereto or imprinted thereon the Corporation's seal. In case any officer whose signature or <br />facsimile thereof shall appear on any Building Bond shall cease to be such officer before the <br />delivery of such Building Bond (including any Building Bonds delivered to the Trustee for <br />issuance upon transfer or partial redemption), such signature or such facsimile signature shall <br />nevertheless be valid and sufficient for all purposes the same as if such officer or officers had <br />remained in office until the delivery of such Building Bond. Upon execution, registration and <br />authentication of the Building Bonds, they shall be delivered by the Trustee to the Underwriter <br />upon receipt of $6,876,270.96, which purchase price takes into consideration (i) original issue <br />discount in the amount of $11,165.50 allocated to the Building Bonds as set forth in the Bond <br />Purchase Agreement, (ii) Underwriter's discount in the amount of $82,250.00 and (iii) premium <br />for the Policy to be paid by the Underwriter in connection with the purchase of the Building Bonds <br />in the amount of $30,313.54. The Building Bonds have been sold to the Underwriter pursuant to <br />the terms of the Bond Purchase Agreement and upon the conditions set forth therein. The <br />Underwriter shall have the right to direct the registration of the Building Bonds and the <br />denominations thereof within each maturity, subject to the restrictions of this Indenture. <br />Section 2.08. Only such Building Bonds as shall have endorsed thereon a <br />Certificate of Authentication substantially in the form hereinabove set forth, duly executed by the <br />Trustee, shall be entitled to any right or benefit under this Indenture. No Building Bond shall be <br />valid or obligatory for any purpose unless and until such Certificate of Authentication shall have <br />been duly executed by the Trustee and such executed Certificate shall be conclusive evidence that <br />such Building Bond has been authenticated under this Indenture. <br />Section 2.09. In case any bond issued hereunder shall become mutilated or <br />destroyed or lost, the Corporation shall, if not then prohibited by law, cause to be executed, and the <br />Trustee may authenticate and deliver a new bond of like date, number, maturity and tenor in <br />exchange and substitution for and upon cancellation of such mutilated bond, or in lieu of and in <br />substitution for such lost bond, upon the holder paying the reasonable expenses and charges of the <br />Corporation and the Trustee in connection therewith, and, in case of a bond destroyed or lost, such <br />owner's filing with the Trustee evidence satisfactory to it that such bond was destroyed or lost, and <br />of such owner's ownership thereof and furnishing the Corporation and the Trustee with indemnity <br />satisfactory to them. <br />Section 2.10. The Corporation shall not issue any additional bonds or other <br />indebtedness under the terms of this Indenture or secured by the grants herein provided for, other <br />than the Building Bonds. <br />14 <br />
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