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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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r <br />$2 ~-r~ ~~ :~ ~. ~~ <br />and aSl: e:~_~anses of such repairs and mproverne^ts, and apn1 <br />the re~.a_nder of the moneys so received by the Trustee in <br />acccrdancc :;pith the grovisans of Section 908 herecf. <br />[Ji:o.never all that is: due- upon such bons and instalir.;ents of <br />interest under the terms of this Indenture shall hU~.~e been <br />pzd, and all defaults made good, the Trustee shah. surrender <br />possess-ion ta: the Issuer, its successors and as:sigr.s, tk•_e <br />sane right of entry, hocaever, to e.ist ~z:pan any subsequent <br />event of" aQfauit_ . <br />~TIhile in possession of such property, the Trus-tee shal'_ <br />render annually ta:'~ha Issuer, to the Lessee. and to the <br />owners of the bonds at their respective registered or last- <br />knas~n addresses a surr.*arized statement. o£ inceZe ar_d ese .dtur~s <br />in connection therewith. <br />In the event of ary sue?-s default, as defined in Section <br />9Ql of this Indenture, the lien. on the Project created- and <br />vested by this Indenture may be foreclosed either by punk <br />sale or by proceedings in equity, and the Trustee or the <br />owner or owners of any of the bonds then outstanding, whether <br />ar not then in default of payment of principal or interest, <br />m2y become the purcktaser at arty foreclosure sale, i£ the <br />highest bidder. <br />In the event the Trustee purc~ases the Project at any <br />such foreclosure sale, it shall have the right and authority <br />t= manage, lease and sell the sattc an whatever terms and <br />conditions it deems to be in the 'hest interests of the . <br />e:.;ners of the bonds, including deter.E:i~aztion as to price and <br />methz:d of payment, including, the carryingbac~: of part or <br />all of t3ie purchase price by notes and mortgages. <br />Sect.oa 90~'~. Upon the occurrence of an event of default, <br />the Trustee may.., as an alternative, proceed either after <br />ent-~~ as wiu'out entry, to pursue a.ny available remedy by . <br />suit ar law or ecuity to enforce the-paymen<t of :the principal <br />cf and irer_erest on ti~~ batzds tFaen outstanding hsreurcier, ii- <br />eluding. withal>t 1i~ritation. foreclosure andman~am~us-_ <br />T~ an evc;~t ai- default' shad have occurred, and if ~t <br />srala t1a~~` hen rcyEZest4d sa tc~ do by the owners o£ tw,rer;t~- <br />_~~_ <br /> <br />
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