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83000621
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83000621
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Last modified
11/18/2008 12:54:50 AM
Creation date
11/18/2008 12:53:48 AM
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DEEDS
Inst Number
83000621
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_.._.__ <br />83-- ~C~O~~-~: <br />arE to be remitted directly to Trustee for the account of <br />Issuer and deposited in the Bond Fund. Such rental payments, <br />sufficient in amount to insure the prompt payment of the <br />principal of and premium, if any, and interest on the Bonds, <br />are pledged to such payment. <br />Section 5.02. Creation of Bond Fund. There is hereby <br />created by Issuer and ordered established with Trustee a <br />trust fund to be designated "The County of Aa11, Nebraska <br />Industrial Development Revenue Bond Fund, Diamond Plastics <br />Corporation Project," which shall be used to pay when due the <br />principal of and premium, if any, and interest on the Bonds. <br />Section 5.03. Payments into Bond Fund. There shall be <br />deposited into the Bond Fund all accrued interest received, <br />if any, at the time of the issuance, sale and delivery of the <br />Bonds. In addition, there shall be deposited into the Bond <br />Fund, as and when received, (a) any amount in the Construc- <br />tion Fund directed to be paid into the Bond Fund in accord- <br />ance with the provisions of Section 4.5 of the Agreement; (bj <br />all rent payments specified in Section 5.2(a) of the Agree- <br />ment; and (c) all other moneys received by Trustee under and <br />pursuant to any o£ the provisions of the Agreement which are <br />required or which are accompanied by directions that such <br />moneys are to be paid into the Bond Fund. Issuer hereby <br />covenants and agrees that so long as any of the Bonds issued <br />hereunder are Outstanding it will deposit, or cause to be <br />paid to Trustee for deposit in the Bond Fund for its account, <br />sufficient sums from rents and other amounts derived from the <br />Project, whether or not under and pursuant to the Agreement, <br />promptly to pay when due the principal of and premium, if <br />any, and interest on the Bonds as the same become due and <br />payable. <br />Section 5.04. Use of Moneys in Bond Fund. Except as <br />provided in Sections 5.09 and S.lI 'rereof, moneys in the Bond <br />Fund shall be used solely for the payment of the principal of <br />and premium, if any, and interest on the Bonds and for the <br />redemption of the Bonds prior to maturity. <br />Section 5.05. Custody o*" Bond Fund. The Bond Fund <br />shall be in the custody of Trustee but in the name of Issuer, <br />and Issuer hereby authorizes and directs Trustee Lo withdraw <br />sufficient funds from the Bond Fund to pay the principal of <br />and premium, if any, and interest on the Bonds as the same <br />become due and payable, which authorization and direction <br />Trustee hereby accepts. <br />Section 5.06. Construction Fund. There is hereby <br />created and established with Trustee a trust £und in the name <br />-23- <br /> <br />
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