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Home My WebLink About2634 ' PI~A-2190 , t~?RO-I:ec.1966) . - ' R ev. April 1967 ~ and at2 buildi~gs and fixtures erecLed or to be ere~ted thereon or appurten~at thereto. The Local Authority hereby declares and ackno:+ledges that during the existence of the trust hereby created, the Government and the holders from t ic~e to t ime of the Bonds~ Refunding Bonds~ or Permanent Notes issued or to be i~sued pursuant.to the provisions of the Rnnual Contributions Contract~ have beea granted and are , possessed of an interest in the ab~ve-described Project Property, to Wit: The right to require Lhe l.ocal Authority to reanafn seized of the title to said property and to refrAin from transferr3ng, conaEyiag~ assi~ning, leasi~~g, mort» gaging, pledging, or ofiherwise encumbering or permitting or suff ering any transf er, conveyance, assignnent, leasing~ mortgage, pledge or other encurobrance of said property or any part thereof ~ appurtenances therefio, or ~any ret?t-~ revenues, fncome, or receipts therefrom ar in connection thereuith~ or any of the benefits or con- tributions granted to i,t by or pursuant to the Annual Cortri~~~tions Contrect~ ~or any interest in any of the same except that the Local Authority (1) may, to the extent and in th~ manner provided in Sec. 313 of the Annval Contributions Contrect~ (a) lease dwelli~~gs and other spaces and facilities in any_ Project, or (b) convey or othprr.~ise d~sYose of any real or gersonal property which is determined to he excess~to the n~eus of any Yroject, or (c) convey or dedicate land for use as streets, alleys~ or other public rights-of-way, and grant easements for the estab- ; lishment, operation, and maintenance of public utilities, or (d) enter fnto and perEorm contracts fo: the sale of dwelling units to members of tenant families, as authorized by the United States Housin~ Act of 1937, 42 IJ.S.C. 1401, et .s~ge or (2) with the approval of the Government, re2ease any Project which has not ti?en been financed by an issue ar issues of B~nds from the trust hereby created; Provided, that nothing herein containecl shall be construed as proh £biting the conveyance of title to or the delivery or possession of any Project to the Government in p~rsuance of Sec. SO1 or Sec. 502 of the Annual Contributions Con±ract. , The endorse;aent by a duly aut::~rized off icer of the Govern:nent Cl) upon any conveyance aiade by the Local Authority of any real or ~ersonal property which is defiermined to be excess to the needs of any Project; or {2) upon any instrument of ~ ~onveyance ar dedication of property, or any interest therein~ for use as sLreets~ al leys, or o~her gub2 ic rights-of-::ay, or for the estab! ishceent, eperation, and ma intenarece oF publ ie ut il it ies; or (3 ) upon any instrument transf err ing or con- veying a dcaelling unit, or an interest therein, to a member .of a tenant far~ily; or (4) upon any in~trument of release made by the Local Anthority of any Project which has not then been financed by an issue or issues of Boads shall be effectivg to rele~se such property froa~the trust hereby created. When all indebtedness of the Local RUthority to the Government, arising un3.:r the Annual Contributions Contr~et, has been fully paid and When a22 the Bonds, ~ Refunding Bonds, and Permanent Notes~ together with interest thereon, have been fuliy paid, or monies suff.icient for the payment thereof. have i~een deposited ih trust for such payment in accordance with the respective resolution of the Local AuLhority~ authorizina the issuance of ~uch $onds~ Refunding Bonds, and Permanent Notes, the trust hereby created shall terminate and shall no longer be eff ective. Nothing herein contained shall be construeil to besto~ upon t~e fio'laer or holders of any of the Bonds or Refunding Bonds, or of the coupons appertaining thereto~ or any holder of the Permanent Notes (other than the Governme~t) any right.or right of act ion or proceeding by Which the Local Authority mfght be deprived of title to or possession of any Project. ~ ~ _ Tt~e t~r~us~ "Bafi~c3~," 'n~Ltiriaitig $ot~c3s~~~ and "Permanent Notes," as used herein ~ shall include Temporary Notes~ Advance Note.s~ Preliminary Notes and Promissory ~ Notes, or other evidence.of indebtedness issued pursuant to the Authority's Annual Contributions Contract. IN WITNcSS k'H~REOF~ the Local Authority by its off icers thereunto duly authorized has caused these presents to be sigc?ed in its name and its corporate seal•~rb'~~l~~reupto affixed and attested this yy'""1~day of ~'j~,!/~' , 19~. ~p S PI q~,'-~ ~ . Q E ~ ; ~ ~ ~ ~ iy ~ ' THS HOUSINQ~ AITPHORITY OF J~ ~ ~ ; :.~sF ~ = \ . c~ ti . _ , ;a • . ` ~ ~ ~ ' d ' ` : ' ~/IC F- Chair ' "'4 ; d~ ; • j Q ` . . • • ~ ~iy ,1j=lZy en' ' - - ~:~-,,,,r~~~~~ ~~~i66 ~2632 _ ~~.y ~ ~ _ _ . - ~ r~_. . w~: