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HomeMy WebLinkAbout0009 1:9 Section 2.06. WARRANTIES EXTEND TO TRUSTEE AND COMPANY. It is agreed that all vendors' warranties received in connection with all machinery and equipment purchased for the Project, together with all warranties given by contractors, manufacturers or service organizations who.perform construction work or install any machinery and equipment for the Project, sha21 extend to both the Trustee and the Company. If requested, the Issuer and the ~ Company shall execute and deliver appropriate instruments to accomplish the intent of this Section; provided, however, ~ that neither the Issuer nor the Company shall have any responsi- ~ bility or liability for the effectiveness of such instruments i or the enforceability of such warranties. ~ . ; Section 2.07. COVENANT TO CONVEY. The Company hereby- ~ covenants that it will grant to the Issuer in trust as aforesaid, a mortgagee's interest in the Mortgaged Property described in Exhibit A attached hereto, free from a11 encumbrances other than permitted encumbrances, which shall mean as of any particular time: ~ (A) liens for ad valorem taxes not then delinquent, ~ ~ (B) utility, access and other easements and rights of way and encroachments that the Company certifies will-not materially interfere with or materially impair the operations ~ of the Project, and {C) such minor defects, irregularities, encumbrances, easements, rights of way and clouds on title as normally exist , with respect to properties similar in character to the Mortgaged Property; all as do not, in the opinion of the Issuer and the Trustee, materially impair the property affected thereby for ; the purpose for which it is intended within the intent of this ; Agreement. ~ Section 2.08. ESTABLISHMENT OF COMPLETION DATE. The Gompany shall be required to establish the Project's completion date, which shall be evidenced by the Company's furnishing to the Trustee within 30 days following said Completion Date, with a copy of each to the Issuer, the following: (A) A certiticate signed by the president or a vice : president of the Company and an architect, engineer or company ~ official acting as such engineer for the Project at that time employed or retained by the Company (hereinafter called the "Consultant") stating that: (1) construction of the improvements have been completed substantially in accordance with said pZans and . specifications and all labor, services, inaterials and supplies used in such construction have been paid; ' (2) all equipment and other facilities necessary ; in connection with the Project have been constructed or acquired and installed substantially in accordance with the plans and ~ specifications and all costs and expenses incurred in connection therewith have been paid; and (3) the equipment so installed is in proper operating order and is suitable and sufficient for the efficient operation of the project for the purposes for which it is intended; ~ ' ~ ~~'i3~~ ~ - , a , . ~~.y ~ r _ , _ v, _ r~ .