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83000621
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Last modified
11/18/2008 12:54:50 AM
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11/18/2008 12:53:48 AM
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DEEDS
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83000621
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_.._~. . <br />~. <br />ARTICLE IV 83~ (~CJ(3b~. <br />GENERAL COVENANTS <br />Section 4.01. Payment of Principal, Premium, if any, <br />and Interest. Issuer covenants that it will promptly pay the <br />principal of and premium, if any, and interest on every Bond <br />is-sued under this Indenture at the place, on the dates and in <br />the manner provided herein and in said Sonde according to the <br />true intent and meaning thereof, but solely from the rents <br />and other amounts pledged therefor which are from time to <br />time held by Trustee in the Bond Eund. The principal of and <br />premium, if any, and interest on the Bonds are payable solely <br />from rents and other amounts derived from the lease of the <br />Project and otherwise as provided herein and in the Agree- <br />ment, which rents and other amounts are hereby specifically <br />pledged to the payment thereof in the manner and to the <br />extent herein specified, and nothing in the Bonds or in this <br />Indenture shall be construed as pledging any other funds or <br />assets of Issuer. Neither the State nor Issuer nor any <br />political subdivision of the State shall in any event be <br />liable for the payment of the principal of, premium, if any, <br />or interest on any of the Bonds or for the performance of any <br />pledge, obligation or agreement undertaken by Issuer except <br />to the extent that rents and moneys pledged herein are suffi- <br />cient therefor. <br />Section 4.02. Performance of Covenants; Issuer. Issuer <br />covenants that it will faithfully perform at all times any <br />and all covenants, undertakings, stipulations and provisions <br />contained in this Indenture and in the Agreement, in any and <br />every Bond executed, authenticated and delivered hereunder <br />and in all of its proceedings pertaining hereto. Issuer <br />covenants that it is duly authorized under the Constitution <br />and laws of the State, ircluding particularly and without <br />limitation the Act, to issue the Bonds authorized hereby and <br />to execute this Indenture, to assign the Agreement and to <br />pledge the Agreement rentals and other amounts hereby pledged <br />in the manner and to the extent herein set forth, that all <br />action on its part for the issuance of the Bonds and the <br />execution and delivery of this Indenture has been duly and <br />effectively taken, and that the Bonds in the hands of the <br />holders and owners thereof are and will be valid and enforce- <br />able obligations of Issuer according to the terms thereof and <br />hereof. <br />-20- <br />... <br /> <br />~: <br />
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