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82001123
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Last modified
3/9/2009 11:26:49 PM
Creation date
2/27/2009 5:00:41 PM
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DEEDS
Inst Number
82001123
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AP,TICLE v. 8.2--y;r€~1? ~?: <br />?revenues and F-.ands <br />Section. 501. The bonds herein. authorized are zior_ <br />general obligations of the Issuer, but are: limited obliga- <br />tions payable solely from revenues,. income and other pro- <br />perty derived from the leasing of the Project. and as author- <br />ized by the Act, the same having been pledged to the Trustee- <br />.hereunder. As provided herein, however, the bonds are a so- <br />secured by a Tortgage lien an portions of the Project, by a <br />security interest '_n and to certain other Aortions of the.. <br />- Project and the 1482 Bonds are also secured, to the extent <br />mentioned herein, by the Partnership Guaranty, the Corporate <br />Guaranty and the Personal Guaranty. <br />The Project has been leased to the Lessee and under the <br />Lease the hasie rent payments are to be remitted directly to <br />the Trustee for the account of the Issuer and deposited in <br />the Bond Fund hereinafter created. The Bond Fund, into <br />which said. basic rent payments will be paid, will at all <br />times have a baience sufficient ir. amount to insure the <br />- prompt payment of the principal of and interest on the bonds, <br />and the entire amount of said basic rent payments is pledged <br />to the payment of the principal of and interest on the <br />bonds. <br />Section 502, There is hereby created by the Issuer and <br />establi:s,kred with: the Trustee a segregated trust fund to be <br />called ''Ha31lReal Estate Dynamics. Ltd. Project Bond Fund" <br />(which is sometimes re*_"erred to herein as the "Bond Fund"), <br />w3aieh shall be used to pay the interest on end principal of <br />ttce brands... <br />Section 573. There shall be deposited into the Bond <br />Fund a21 accrued interest {and premium, if any} received at <br />the time of the delivery of ttie bonds. Zn addition., there <br />whe~.l be deposited into the Bond Fund as and when received. <br />(ai ail basic rent payments specified in Section 2.1 of the <br />-~5- <br />
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