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79005189
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Last modified
1/13/2010 3:45:03 AM
Creation date
1/13/2010 3:44:28 AM
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DEEDS
Inst Number
79005189
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<br />and a surety company or companies as s~.:~rety, and that such borflds <br />sha31 in all respects comply with the provisions of Section 52-118, <br />Reissue Revised Statutes of Nebraska, 1943, and shall name the <br />Authority a.s an obligee. All payments received under such bonds <br />shall become a part of and be deposited in the 1979 Construction <br />Fund. Any and ail amounts received by the Puthority or Lessee <br />from any of the contractors or other suppliers of machinery or <br />equipment by way of breac2-~ of contract, refunds or adjustments <br />shall become a part of and be deposited in the 1979 Construction <br />Fund. <br />Section 4.7 Moneys remaining in the 1979 Construction <br />Fund after providing for the cost of constructing the Project may <br />be expended for the purpose of purchasing furniture and equipment <br />for and as a part of the Project, provided, however, the Trustee <br />shall not disburse funds for any item of furniture or equipment <br />until it has received a document evidencing and confirming title <br />to such item of furniture or equipment to be in the Authority and <br />subject to the terms of this Lease Agreement, together with evidence <br />of filing of an appropriate U.C.C. financing statement or state- <br />u~ents covering such item. In addition, Lessee shall execute and <br />cause to be executed by Region III, from time to time as may be <br />requested by Trustee any such security agreements: financing <br />state.~ents, ..,..w continuation state:~ents relating to such ite_..s of <br />furniture and equipment as the Trustee may request. <br />Section 4.8 If the 1979 Construction fund shall be insuf- <br />ficient to fully pay all the costs of constructing and acquiring <br />the Project and to complete it lien free, Lessee covenants and agrees <br />to pay (or cause to be paid), in cash, the full amount of any such <br />deficiency by making payments into the 1979 Construction Fund, or <br />by direct payment to the persons entitled thereto, of funds suf- <br />ficient t© make the required payments to the contractors and sup- <br />pliers of furniture and equipment as the same shall become due. <br />If Lessee is unable to perform {or cause to be performed) the fore- <br />:: going-covariant, Authority agrees, upon the specific request of <br />Lessee, to use its' best efforts to issue and sell Completion Eonds <br />-12- <br />
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