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HomeMy WebLinkAbout0575 ~ ~ ~ ` . ' ~ ~ ISSUANCE, AUTHENTICATION AND NBGOTIATION OF BONDS . Thia Deed of Trust shall be a continuing lien to secure the full and ;~final paym.~nt of the principal snd interest on all bonds Which may from time {;to time be issued and delivered hereunder. and the Church, or its successors 4 ~ ~:in title, covenants and agreea with each and every bondholder that thie Deed ~ ~ ?#of Trust shall secure the payment of the principal and interest of all bonds ~ ~ ~'of the denominations and terms herein expreased which may from time to time be ' ~ :~issued thereunder, sub~ect to the following limitations and conditions: ~ ~ ~ ( ; 1. The bonde of a subsequent series shall be iasued only ` for the purpose of making additions and iaprovementa to ~ ~ land, buildings and equipment owned and operated by the Church and included or to be included in the lien of this ~ ; Deed of Trust. ~ ! ' 2e The Church is not in default under any provisioas of the ~ Deed of Trust or any of the bonde outstanding. ~ 1 . ~ ' 3. FIDELITY PLAN, INC., of East Point, Georgia~ has consented i in writing to the bonds of subsequent series being issued, ~ which consent shall not be unreasonably withheld. ~ Each subsequent bond issue shall tie suthorized by a resolution ~ ;:passed by the Church or its successor in title, showing the date, interest ~ ::rate or rates, denominations, amount and achedule of bonds, and shall be ~ i'; t ~ acknowledged by the President and Church Clerk, and a Supplemental Deed of ~ ! '•~Trust shall be drawn as evidence thereof, which Reaolution and Indenture must } . t ' :`.be recorded at the place where this instrument is recorded, and shall conform j i ' ~ I 4 ~:to all the provisions of this Deed of Trust and be considered as a eupplement ~ k ~ ( i thereto, and the bonds issued thereunder shall be secured hereby equally with ~ ~ ~ ':bonds of all other series, i ~ ~ ' These bonds shall be signed bq the President of the Church, being i ~ ' ~ ~ ,`dulq suthorized, and the corporate seal affixed and attested by the Secretary ; S ~ `:'of the Church, Each bond will be dated and the coupon attached thereto shall ~ ~ ~ ;be dated and bear interest from the date of the bond. The bonds to be issued ~ ~ I ;hereunder wfll be certified by the Treasurer as to gayment received and i ~ ~ ' authenticated by the Truatee. 's k ~ Y ' ~ All semi-annual intereat coupons shall be numbered and dated to ; ~ ~ j } ~ `'correspond with the number and date of the bond to vhich they are attached ~ I ~ and shall be executed by the printed signature of the Treasurer of the Church. ~ i i ~ ~ ~ ~ ; ~ ~ ~ -7- ~ +~IiE ~ i ; I , i ~ ~ ; _ _ ~ ~ "x' _ y ~~~3-~.~A~!'~y~ $ i ~ 'r~2?`~TS~`,~~.x. t ~+R-4~.,uP'~~ ~ _ _ . . . .