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200806452
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200806452
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Last modified
7/29/2008 3:19:50 PM
Creation date
7/29/2008 3:19:46 PM
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DEEDS
Inst Number
200806452
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<br />200806452 <br /> <br />under the terms of the Indenture all of the Issuer's right, title and interest in and to the Rent <br />Payments and certain other rights under this Agreement as provided in the Indenture. <br /> <br />Section 5.04. Refunding and Redemption of Bonds. After the issuance of the Bonds, <br />the Issuer shall not refund any of the Bonds or change or modify the Bonds in any way, except as <br />provided for in the Indenture, without the prior written approval of the Authorized Company <br />Representative; nor shall the Issuer redeem any Bonds prior to their scheduled maturities except <br />upon the written direction of the Authorized Company Representative, unless such redemption is <br />required by the Indenture. <br /> <br />ARTICLE VI <br /> <br />LEASE OF PROJECT TO THE COMPANY; RENTAL PROVISIONS <br /> <br />Section 6.01. Quiet Enjoyment. Unless there has occurred and is continuing an Event of <br />Default, the Issuer hereby covenants and agrees that it will not take any action, other than pursuant <br />to Section 4.02(c) or Article VII of this Agreement, to prevent the Company from having quiet and <br />peaceable possession and enjoyment of the Project during the Lease Term and will, at the request <br />of the Company, and at the Company's cost, to the extent that it may lawfully do so, join in any <br />legal action in which the Company asserts its right to such possession and enjoyment. <br /> <br />The Issuer agrees that the Project shall be the sole property of the Company and that the <br />Company shall enjoy the sole and exclusive possession of the Project (subject to the right of the <br />Issuer and the Trustee to enter thereon for inspection and other purposes pursuant to the <br />provisions of this Agreement). The parties acknowledge that for federal and state income tax <br />purposes, the Company is intended to be the owner of the Project entitled to the related <br />depreciation deductions, that the Company's Rent Payments pursuant to Section 6.02 hereof <br />consist of interest components and a principal component for payment of the interest and <br />principal, respectively, of the Bonds with the Company as indirect obligor under the Bonds, and <br />that the Issuer will not take a position contrary to those as aforesaid. <br /> <br />Section 6.02. Rent Payments and Other Amounts Payable. <br /> <br />(a) The Company agrees to pay the Rent Payments to the Issuer as and for <br />rental and for the use of the Project on or before, but not later than, five days next <br />preceding each date provided in or pursuant to the Indenture for the payment of principal <br />of, premium, if any, or interest on the Bonds (the interest payment dates for the Bonds <br />being June 1 and December 1 of each year, commencing December I, 2008) until the <br />principal of, premium, if any, and interest on the Bonds shall have been fully paid or <br />provision for the payment thereof shall have been made in accordance with the Indenture, <br />in immediately available funds, a sum which, together with other moneys available <br />therefor in the Bond Fund, will enable the Trustee to pay the amount payable on such <br />date as principal of (whether at maturity, or upon redemption, purchase, or acceleration or <br />otherwise), premium, if any, and interest on the Bonds as provided in the Indenture. <br /> <br />It is understood and agreed that all payments payable under this Section 6.02(a) <br />by the Company are assigned by the Issuer to the Trustee for the benefit of the holders of <br /> <br />4834-8191-0786.7 <br /> <br />31 <br />
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