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79005190
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Last modified
1/13/2010 3:45:29 AM
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1/13/2010 3:45:03 AM
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DEEDS
Inst Number
79005190
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~9--~Sw1.'.9~ <br />ARTICLE IV <br />Acquisition of Project <br />Section 4.7 Sublessor and Sublessee hereby acknowledge <br />that tha Lease in its Article IV provides for the acquisition of <br />the Project. Sublessee hereby consents to and approves the terms <br />of said Article and acknowledges that the plans and specifications <br />orepared by the Architects referred to in Section ~.2 of the Lease <br />have been prepared in accordance with the advice and consent of <br />Sublessee and that the Project as constructed in accordance with <br />such plans and specifications will result in a facility suitable <br />for Sublessee's purposes. Sublessee hereby approves the appoint- <br />ment of Sublessor as Construction Agent for the Authority and <br />hereby authorizes Sublessor to act on its behalf as well in taking <br />bids, executing contracts, and in performing and exercising all <br />authorities, discretions, and elections of t:~e owner under the <br />construction contracts, including the making of changes, amendments <br />and additions therein and thereto. Sublessee agrees that it shall <br />accept for subleasing hereunder the Project as it shall be com- <br />pleted in accordance with such agency and discretion of Sublessor. <br />Sublessee further agrees that it shall execute any and all security <br />agreements, financing statements and continuation statements as <br />may be requested by the Trustee pursuant to Section 4.7 of the <br />Lease. <br />Section 4.2 Sublessee agrees that if the 1979 Construc- <br />Lion Fund, as defined in the Lease, shall be insufficient to fully <br />pay all the costs of constructing and acquiring the Project and to <br />complete it lien free, Sublessee shall pay, in cash, the full <br />amount of any such deficiency by making payments on behalf of Sub- <br />lessor into said 1979 Construction Fund, or by direct payment to <br />the persons entitled thereto, provided, however, that Sublessee's <br />obligation to make such payment may be reduced to the extent that <br />Completion Bonds are issued pursuant to the Resolution. <br />to <br />
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