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81006050
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Last modified
1/14/2010 11:27:18 PM
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1/14/2010 11:25:20 PM
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DEEDS
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81006050
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2A4 <br />81- u%f~~~,:~%W~ <br />ARTICLE IV. <br />Custody and Application of Proceeds of Bonds <br />Section 401. Bonds are Limited Obligations. The Bonds <br />herein authorized are not general obl gations of the Issuer, <br />but are limited obligations payable solely from Revenues, <br />income and other property derived from the leasing of the <br />Project and as authorized by the Act, and, as provided <br />herein, the Bonds are secured by a mortgage lien on the <br />Lease, building and equipment constituting the Project and <br />acquired or constructed with the proceeds derived from the <br />sale of the Bonds. <br />The Project has been leased by the Issuer to the <br />Company and subleased by the Company to the Sublessee under <br />the Lease and the Sublease, respectively. Basic Rent <br />payments are to be remitted directly to the Trustee for the <br />account of the Issuer and ieposited in the Bond Fund <br />(hereinafter created). The entire amount of said Basic Rent <br />payments are pledged to the payment of the principal of and <br />interest on the Bonds. <br />Section 402. Construction Fund. A special fund is <br />hereby created and designated The County of Hall, Nebraska <br />Industrial Development Construction Fund (H fi, H Partnership <br />Project) (herein sometimes called the "Construction Fund"), <br />to the credit of which such deposits shall be made as are <br />required by the provisions of Section 208 of this Indenture. <br />Any moneys received from any other source, including any <br />money provided by the Company or the Sublessee, for the <br />acquisition or construction of the Project shall be <br />deposited with the Trustee to the credit of the Construction <br />Fund. <br />The money in the Construction Fund shall be held by the <br />Trustee, in trust, and shall be applied to the payment of <br />the cost of the Project and, pending such application, shall <br />be subject to a lien and charge in favor of the holders of <br />the Bonds issued and outstanding under this Indenture and <br />for the further security of such holders until paid out or <br />t_~ansferred as herein provided. <br />All payments from the Construction Fund shall be <br />subject to the provisions and restrictions set forth in this <br />Article, and the Issuer covenants that it will not cause or <br />permit to be paid from the Construction Fund anx sums except <br />in accordance with such provisions and restrictions, <br />Section 403. Items Embraced in Cost of Fro'ect. For <br />the purposes of thas In enture, a cos o e Project <br />shall embrace the cost of acquiring and constructing the <br />same, including reimbursement to the Company for payment of <br />any costs of the Project, and, without intending thereby to <br />38 <br /> <br /> <br /> <br />
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