HomeMy WebLinkAbout2434 ~ - - - - . . . _ ~ _ . . _ _ _
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a~! e~il, buiidiag~ aad ~'ixtvres er~at~d os to bs ~reoted t~heo~soa or app~rtbnwt
~srsto. ~ . ~
?ha Local Aattarity bs~csb~ dsalarea aad aalcr~o+rl+~dges tbat ~uring ~he exiete~os
o~ tbs ~ruaL hsraby arsat~ed, t~hs P8A and t~he Loldsre lra~ ~ias to tins o! ths Bonds,
Ret~oding Bonda, or Pez~eaaent l~t.ea issvrd or ~o be lsausd pa~raua~nt ~o t.~s pro- .
~l.eioas o! the Aonua2~ Couti~ribntiona Oon~raot, batrs 'bs•n grant?ed an~ ars poaassssd
ot aa i~ersa~ ia ths abo~ra-dsoorlbsd Pro~so~ Fropsrt~y, t~o viti: ~
~s right to requirs t~s Loo s~. AutihoarlL y to rea~ia aeised o! the tit,le to asid
property aad to reh~ain ira~ ~ra~t'erria6i conmeT~6s aeaig~ning, ]reaaing, a~:'t6a~iner
pledging, or otbervies ena~mbeacing or pe~itting or en~ftering aa7 tiracmler. ~ .
. a~Y~, a~~t, ~~06~ ~t?6+~ie, F~~ o~r ot~hsr encvunb~anae ~o! aaid
PY'oPa~1? or eapr ~art t?bereof, appmrtenanaes ~erst?o, aor aay rer~t, reven~se, laoaee, .
or reosipts t~~eratrom or in oounsation tbs~re~itli, ca~ aQY o! tbe beastita or
~nt~s~b~utLoAa granted to i~ by or p4rauant t~o the A~a1 Con~ributions Contraot, or
F a~ intereat ia aq~ ot ths ea~ee sxoep~ that tbs T~oaal Atxthorlty (1) ma~p, tA the
~ extent ~nd ia ~?~e ~ee~aner peovided in Sea. 31,3 at the Aanu~l Contributioae ContnoL,
E~ (a) leses d~ellioga and ot~er apaaee sad laa~litise in aa~y Pro3act, or (b) oom?s7
. or othe~rui.es dieposs 'o~ aoy real or personal propsrt~ ifiieh ia deLermiried to be
exoeea t,o ths z~ede ot e~ay Pro~e~, or (a) ~o~vey o~ dsdiaat,e lsnd ior nas as
etreata, ~ alleya, or ot.t~sr pnblio ri~ta-o!'-~+a~r, anci 6rant easemeata !o~ tbs
~ establiabiment, operati~on~ and aai~ate~oe ot p~blio ntilitiea; or (2) ~rith tbe -
appTOral oY ths PBA, release acyr Pro~eet ~h hae no~ tbett beeA linanoed by a4
iasue or lasuea ot Boade ts~n the tiruat hsreby orsated; Prov3ded, that nothia8
bereia cor~slned aball bs ~ a~aatYVUSd ae probibiting tbs coaveYance o! title to or
tt~e d~e].i~verr or poesesaion o! aiq? Pro~eat to f~s P8A in purauaAas ot Seo• 501 °r
. Sea. 502 0! ths Annual Contribnt~loos 0ontraot.
~ shs ~ eado~csament by a dnl~ aut~is~d otfi,oer o! tbs P~l (1) upoa a~? convsy~nae
made by the I.ocal Autharity o! aqy real or pereonal prq~erty tifila6 ia dste~ioed to
be eaceea to the neede ot aay Pro3eot; or (2) npon sny ioatrament ot ooav~e~ance or
dedieation o! property, or aoy iatereat thereia~s_ tor nee aa atrsetes a]1sYa, or
~ other pnblic rights-ol-ray, or !or the eatablia~aoeut, operatioa, and ~ai~?teaa°o° o! _
~ pnblia utilities; or (3~ ~n azq? inst~tvment of rsleaae m~ads by t~e Local Authoacity .
o! aup? Pro~eat ~hiah bae nati tlyaa bee~4 !'inanesd by an isaute or lee~nse at Hondr~ aha?S
be etYeative to releaae aveh gropert7 lrop tbe trnet Lereby.oreated._
i~16en all indebtsdneas o! the ?~oaal Autbority ~o ths PHA, aris~n6 wxie~ tbs
A~al Con~ribut.ions Contraat, hss bAen i1~119 Pe?id and ~rhen all ths Bor~das Ret~ndin8 ~
Bonds, and Pe~~ Notea, togethar ~i.th intereat t,~sreo~, baie beea tu13~? P~s -
or mcni~ee auffiaient tor t~e p~yDent therso! have baea ciepoaited ia trnet !or aoah -
psya~eat 1u aeoordance vith t,be reepeotiv~e ro~o].vrt~.on ot t~e Local Autboaritt~11?s
authoMsing the issuance o! eueh Bonda, Rat~ind~.t~g Boads, aAd Per~e~neat Aatea, tt~s
traat hex~eby created ahall terminats and aha11 no l,o~ager be elteetivs.
Nothi~g herein oont.ained,aball be oouatrned to beston upaa tbe holder or
hol~era oi ai~ ot the Horda or Ret~nding Bonda, or ot tbe covpoAe apPsrtai4ia8
~ t.bersto, or aryt talder ot ttbe Permaaent ~To~L~a (other then tt~e P8A) a~t rigbt or
E right o! aati~on or porooeeding b~ ~ich ~he Local Antbority aight be deprived ot
~ title to or poesess#~oa o! any Pro~sot. ,
~ ?bs '~erm~s, "Bonda," "~etba~diog Bonde," sad "Peroanent Notea," ss uasd bsrein .
~ ahall inolnde Te~paeary 11o~tea,~ /ldvaace ~totsa, Preli~ninary ~totea aod Pro~i~o='7 <
~ Notes, or ot,b~er evideAOe o! 3rx~ebtedneaa ieeusd ptzrauant to t?he Aatt~ity~a Amaws
= ContribntLona Contr~at.
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E ~i IiIT~iBSS i~RE~+, f,bs Local Ibnt.bority br its ottiosre t,hsrsnato ~a1T
> auLtarized hsa a4uaed t~sss paresents to be aigned Sa its ~es and itis oorpo~ats . .
~ eeal toy,~ to aiYized a~d atteatAd this 15th d~y o! ~ne , 19~~ a
~ ,~~~~~~``~t 11~~.
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