HomeMy WebLinkAbout2273 . . . • • . . . . i
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and all bnilding~ aad tixbuir~• er~at~d or to be •reot~ed t~haoc~on or ~pp~mrt~ia?a~
t~hsrsto. '
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?hs Irooal Antdarit, bsrsb~ dso~.arss and tolcn~a~rl~ecl~es that ~uur#~ns tb~ ixiebnod !
o! tbs Lruet hereby creatsd, t~hs P8A aad t~he Loldea~e iroa~ ti~e t~o ~iss a! t~s Bonds,
Rstt~ndiag Honda, or Pe~nb l~o~tea isswd or to bs iseued pm~ei~aa~ !o t~ prc- ~
viaions ot the Jlat~al~ CoatribuLipn~ Contiraat, havs bein gs~n~sd and ers poaaesa~d ~
o! an i~ereat ia tt~s aba~re-d~saoribed Pt~ect PrapsrW?, t~o ait: ~
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~ T~s rigbt to rsqu~irs t~hs Local Aut,hoa~itr t?o reaaia aeissd a! ~he tit~le to aaid
` p~cperty and to ret'rain lrar ~radslerrings ~~~6s aveigning, leasia8s ~i`t6d8~r
' P~a6~6, or ott~rviae euambsring or ps~ti~g or anttsriaa aa~? t,rae~eler, i
~ oo~YsncQ, aasiga~eat, ~seain6, aoa~t?eage~ Alsdgs or other enam~ba~~ras at aaid i
t ProPer't~Y or- ac~? Pert tLereod', app~m~tenanoes ~ersto, aac an~ rent, ra~em~es, in~oas,. ;
= or rsoeip~Ea there~oa or ia oaaneation there~iith, a~ aa~i o! t~Ue bsasiits or
` coAtacibutLo4e graoted to iL b~ or pnrausnt to the A~aaonal Qont~ribntiAas Contraot, or
arqr lateres~ ia ae~J o! th~s e~ams exoep4 tihat tbs Looal An~t~ori~,jr (1) ~y?. to the
eutent and ia ths ~aaer peavided ia Ssa. 31,3 0! ths ~ Oout~ribatione CoAtrao~, ~
,(a) Lsaes drrellinga aad othea~ apaoea sad lacilities in acy? Pro~eot, or ~b) aoave~ -
or otberrriee diapoas o! a~y real or peraanal ProPeY"t? ~blah ia determ~ned to be :
e~eaa to the nseda o! aqy Pr~~ect, or to) ooavey or dedioats lsr~d !or nee as
atreata, all4ys, or otd~sr pnblio right?~-o~-xa~y, sad gi~ant ease~sata tor ths _
establfstwent, operati+on, aad a~aiate~aace o~ publio nLititiee; or {2)- ~ritb tbs
appro~], oP tbs P~A, releasa Pro~soti ~thioh hae naL thsa bseA lioanoed by an
iaau~er or iasuea ot Bonds iro~ the t~cust bereby oraated; Pro~ded, that nothiUg
herein cor~ained at~all be c~oatan~sd se prohibit~ng ~ tbs ooaveyaaoe ot Zit,le to or
tha delivery or poeaeaaion o! au~ Prc~eat to the PHA ia parauance ot Seo• 501 or _
. Sea. 502 0! the Annual Contribu?tioae? Contraot.
She end~o~cse~eent ~y s d~aly auttaa~ised ott3qsr o! ~bs P8A (1) npon a~ eoa~s)anae
mads by ths Local Autharlty o! ac~ real or pereonal property ~fi3ah is detexsioed to
be exc~eaa to the nsede o! aoy Pro~eat; or ~2) upon arpr instrmeent ot oonve~aace or
dsdicatioa ot property, or a~y iatereat t~herein, !or nss aa streste, s1ley~es or
, othear publie rights-at~s,y, or tor ths est~ablish~oeat, operatiroa, and ~eainteAanoe o!
pNblic utiliti+es; or (3) ~a inetrument o! releaa~ mad~ by t~he t~oeal Ant~oo~ity
of e~? Pro~eat Which hae no~ thea besu li~aanoed by an laaue or iaeaes at Bonds ahall
~ be eiYeative to release auah parapert7 iro~a t~he ~rust bsreby orsated. ,
Nben all iadebtedneae oi the I~ocal Antho~ity to tbs PBA, ariaSng imder tbe _
' Ana~ual Contributiona Contraat, hsa beea lt~lly paid and when all t,bs Bonda, Re~ading
Bonds, and Pa~t l~otea, together Mith irrtereat tbereon, bsTe been t~11y Pa~d,
or sicniea euffioient !or t~ie p~ynisnt i~herso! 6av~e baeo depoaited in truet tor ~snab _
payment in aeoordan~e xl~h t~he reapeativs reeolut~ion o! the Locai Aut~hoa~ity, !
authoriaiag tbe isawrice o! auah Bonda, Rat~ndiag Bor~ds, and Peraane~at Na~ee, t~s
trust hereby created ahall termin~ate and ahsll no laager be atteativs. "
Nothing ~rein ooatained ~ atu~ll bs oonatxued to beatov npon tbe liolder or
twldsra ot aq~ o! the Bo~is or Rett~n~diiag Boode, or ot the oonpone e~per~ini~6
thereto, or a~? hoLder oi the Permarsent Natea (otl~sr than t~e PB~?) aip? rigbt or -
rigtrt o~ a4tLon or prooseding by whi~ch the Loeal Antbority sight be -depriv~ed o! ~
title to or poaseeeian o! ae~ Pro~eot. ~ ~ _ ~ ~
,
. ?he ~arma, "Bonds," N~~L~ Hp~~ N and NPsYaarieati 1lotee," te nssd berein -
ahall inalude Tempoeery liotea, Jldvanae ~iotse, Prelimin~o~'Y ~To~ea ~nd Prc~iaeor~!
Notea, ar other evicbnve o! indebtedueaa iesusd puraaant, to t~hs /lnthcarfty~a Ama~sl
Corrt~ci.bntLone Contr~t. _ -
Il~i ~fT~S t~s Local /?uthorit~ b~ its ottioera tbsrem4to ~1~? . ~
antmrf$ed Las aauaed t,hsas prseeats to be aigned ip its nawe aod its oorpa~rate
aeal to ~,~euato etYi~oed and stteatsd tbis dsy o! , 19.~.
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