200510856 - Laserfiche WebLink

Browse

200510856 order to provide for and secure the payment of the principal of and interest on the bonds issued as herein provided according to their tenor and the performance of all the covenants expressed or implied herein and in the bonds, does hereby grant, grant security interest in, bargain, sell, assign, convey, mortgage and pledge unto the Trustee, as trustee, and unto its successors in trust, and to them and their assigns forever, for the securing of the performance of the obligations of the Corporation hereinafter set forth, the following property, whether now owned or hereafter acquired: 1. the Project, including all right, title and interest of the Corporation in the Site (specifically the Corporation's easement rights with respect to the Site as provided for in the Agreement) and all buildings and improvements now or hereafter located on the Site and all rights with respect to buildings, equipment and facilities included therein or as a part thereof, together with all tenements, hereditaments, appurtenances, rights, privileges and immunities thereto belonging or appertaining; 2. the Agreement and all revenues and income derived by the Corporation from the Project or the Agreement, including, without limitation, all rentals received by the Corporation from the leasing of the Project, and in particular the rentals and profits received under and pursuant to the Agreement, pursuant to the terms of which the Payments (as defined in the Agreement and also below) are to be forwarded directly to the Trustee for the account of the Corporation and deposited in the account of the Corporation herein designated as the "Bond Fund "; 3. any and all other property of every name and nature from time to time hereafter by delivery or by writing of any kind conveyed, mortgaged, pledged, assigned or transferred, as and for additional security hereunder by the Corporation or by anyone in its behalf (or with its written consent) to the Trustee, which is hereby authorized to receive any and all such property at any and all times and to hold and apply the same subject to the terms hereof; provided that such transfer, sale and assignment of the Payments is hereby declared by the parties hereto to be absolute and unconditional to provide for the payments of principal and interest on the bonds herein authorized and not merely as security. TO HAVE AND TO HOLD all the same with all privileges and appurtenances hereby conveyed and assigned, or agreed or intended so to be, to the Trustee and its respective successors in said trust and to them and their assigns forever, and the Corporation hereby binds itself, its successors and assigns, to warrant and forever defend title of said property unto the Trustee, its successors and assigns and against all persons now or hereafter claiming the same or any part thereof or interest therein; IN TRUST, NEVERTHELESS, upon the terms and trusts herein set forth for the equal and proportionate payment, benefit, security and protection of all holders of bonds issued under and secured by this Indenture without privilege, priority or distinction as to the lien or 2