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Home My WebLink About0929 ~ . ~ prupc~ty rouvc~•cd unJcr the Sccurity Instrument cy;ains~ such lusses in amuunt at kas~ cyu~l w ~hc sum uf the brlancc dur un Ihc uu~standiaa iwnds uercurMler. and in any evcnl. in in amutuu aol lea lha~ eiRhty prn•en~ f (80%) of ~hr fu~ muke~ value o[ the imp~ovrments locsted thercu~. SucA pulicy cx ~?olicies thiq contain a luu } payabk clau~c in f~vw uf the '1'nutee tor thc beaeCt ot the bondholden. at~d tbe or~i~l ot wch bc delivercd to the Trus~ee. tu br krpt by it uatU wch bonds are paid ia [ull. la the eveat of lw~. tbe prucecds oi inw~snce paid under wch ~,olicy or pulirie: ~?aU be delivertd to the Trwtee. and s1?~11 beap plkd by the Truatec• (1) to pay thc cwt of rePbreme~t w rcpair of the improvemeAts dsma~ed; or (Y) towardt the purcba~e ot additioasl pwpe~ty. which additional pr~e~ty shall be arnveyed by the lautt 1o ttie Tnutee by addubnal security jnstruinen~ ~ot ~he benetit uf ihe bondholders: ~x (3) for 1he cunswcl'aa oi a~Witio~al improvemeats oa the property slready heW b the 'Prustce: or (4) to c~ll and Prry?aY out:tandia~ bond~ ia the manner ss part~sl prepaymcna ue to be applied ss set forth hereinatwvc. '1'he 'IYustee sball be auiboristd to we any lou pwceeds for a c~mbiaatwo ot thae pu~ous ss w ekctcd by ihe Itwe~. VII. (~NDEMNA'1'ION Ot PROPkR'1'Y. 1. In the event sny or all of the Iswe~'s p~uperty held by the '1'rus~cc at ururity for the boadt is sou~ht to bc acquiced by aay ~vernmental asency havio~ the power oI emineat domi . i the 7Yu:tec ~ authoriscd to join with t{?e luuer ia ~iatins far the rak oI a partwn or all u! aaid p~operty. wit6out tl~e neceuity o( coademastwo pwi.~eedin~s. 1 awevcr. ~he Tru:tce is nut wthurised to join ia ~ny cun- veyancc of aU o( tAe laucr'apropcrty unks~ wtl'icieat ~uads ue to be ?eccived 'a order to psy all ot the bonds theo outstandia~. inciudicq~ aq accrued iaterc~t thercap. Y. ta the ~eat of a partial ukinR of the ~uoperty of the Iswcr. the 7'rustee is nuthorised to join wi~h the Iswc~ iu ne~otiatina wch t~nsactwn. providcd that ~e~? cuh procYe~ derived (wm such transaclion thy!! be ddivered L to the Tru:tee and applied either (1) to prepay outswndin~ bo~ds inthe saeue maaaer as putial prc{iarmcMs .re ` pw fw heYeinabovc; or to punhsse ~wlditiunal prope~ty for the issuer. which additwaa! pn~erty ~hall ! be c~yrd to the '1'rtulee u additiotuJ securily [or the boodbukkn: ur (3~ to cw~struct addi~iw~al uapruvement: ~ ~ the pwpcny slrcxdy relaiaed by thc '1'rustce xs secutity for the bor~dhok~en: ot (4) tn pay any Wher out- s~ debt exutioR +~irut ~he Is~uet's propc~ty. 'fbe Issuer stull bave the ~h1 to Rekct wbich uf the fonxuinR alternat vca it Jesires to exercise ~ad sl~ll notify thc 'frustce in vinitia~ thereoi. VIII. AUDI7'tUNAI. iWNp 155Ut:S. 1. '1'he Iswer ~all bave the rigbt to issue and ~U additiunal tx?~ds [ur the purpwe uf paYin~ uR any cxistu~q indrl,tednea :yrainsi the property of tbe luuer. or buyina additiunal pru{ierty. or makin~ ~ma4eat ia~provements to aay of thc propeny o( the Is:uer, or to es~-hanKc ot replaaY any tw~ of existinR bonikd in~ebtednes~. a~eated undcr the terms uf this 'frust Inde~turc ~ir sny w~kment thcrrto. 2. My new series ut additioaal twttids th~t ~haU herclfter be issucd to lhis '!'rust Indenture ihall be serured ~>ru r~ta by the Security Insuumeat and shall hive equal priority in {iayment with all olher teries of bonds iswcd brrr under or pursuan~ to a~y suppkmcn~ here~o. ~~rwvidcd the fuUawing condi~ions a~e met: (a) An additanal Sati•urity Inurumcnt shYq bc Rive~ by thc Issuer to the"'r~~~K roo~y~ ~y ~~w nj~ ~quired by the Iswcr. (b) 'fbc I~+c~ is no~ in def~ult with respcct to any o[ its cuven~nts under this T~~ut lndenturc and any ~nead- ~eents heteto. . IX. R~PI.ACEMF:KI' UF 130N1~1. 1. In the rvcnt +ny bond~ wilb the ccwpons tbcreto a~{~~erlaiaiag, sh~ll becume mutil~ted or defared. thc tswcr. in its disaYC~iun. may issuc, upoa a~?ruval by the Tnutec, a ncw bund uf likc kir?d. maturity aad date (includi~ unmawred coupons). ia cxcban~e aad in subslitutan tor any bonds and coupons w eoutilated or detaced, upon cancellitiun thereo(. . j 2. If1 tElt lVQpl a0y Ml~. with the cou~wns thereto appertaiai~q~. is drstroycd. Iwt or stukn. the Iswrr in its ' discretion may iswc.. upon appraval by tAr 7'rustee. ~n I~eu of anJ in wbsti~utwn for any bonds at~d rou~wns alk~ed t6 have been destroycd ur l~t. or in licu of and 'm substiwtion for any bo~ds or cou~was stulcn mure thar sa (6) moatbs priar to t6e Cd' rc[err~eJ tu below and not presented for piymeni witl~in wch pcrioit, a new lwnd of lik~c kind. maturity and date~inclu~linR uamaturcd cuupons). upon satisfactioa nf tbe foUowing reyuircmeots. F 7'!~c pur~wrted owaer ot wch bu~uls shall file with the '1'ntsttt cvidence ratisfactory to lhe Trustee ar~d to the Iswer thst Le is ihc true owner of same. that wch bondt ue in fact deslroyed. lost and with rcqxci ta stolen boads tl~a~ wch theft occurred xt kast six (6) ~eonths prior to the date o( surh fibnR. 'Che puryx~rtcd o~+•ner sh~ll al~o furni~h thc Trustee. for tler beac~t of both ~hc Iswe~ aad the Trustee. an indcmcuty bond iswcd by a re- put+bk surety comp~ny. indemnityiag thcm a~rinst I~ss fix issuinR thc substituic bw~d u rcquated. 3. All the bonds ~nd cou~~oru iswed un~ this Inden~ure shall be held Ynd' owned upon the cxp~ess cunditiun lhat thtpro visions of this f'araRra~h X are e:clusirc in res~xrt to lhc rcplwc•emcnt as wcll as `~aymrn~ of mu~ilatcd, def~cred. bat. stoka or destroyed bonds and cou~wns atwl shaU prccludc :u~y and all uthet riRhts ~ul remrdirs. aotwithst~ndia~ any law w stawte oow exis~iry~ ur herrd~c~ eu~ctnl to_ the conlrary. rc~pcctinx suafi rcplaccmrnt _ or the paymeat o[ bonds. au~a. rou~~uns. ne~tiabk iosuumca~s or o~her sccurilics withau~ thcir wrrendc~. X. 3UCCtSSOK 7'RUS'1't ES. l. !n the eveat the '1'nutee named hcreia. or any wccess~,r ~rustee. shuuld resi~n ur bt uaabk w refwe to xt. or be proh~ited by law from x~i~ as 't'rustee. thc I~uer shall have the rigfit tu ukct and naoae a subslitute su~cessor trustce. Whrncvcr a wrcc~r trustee is aErEwintcd. the Issuer shall en- tleavor to noufy sll bondhokkrs of wch f+cl by mailin~ aolicr uf wcb y~inlment to wch bontlhoWers or thcir transierees or u~ignecs at the last k~wwn addrer as ~hown un the tiooks xnd records uf tbe Issucr. such nutire ~ bcitp~ auikd by tint~Class Mail~ {w:WRe {xep+id• 71~e failurc uf any bondholder tu receive notirc of thc a~wint• ' mrnt ot s wcccs~or truttce ihap, in nu cvent. coastitule a dcfault under this instrumeet or the Sccurity Inst~umrn~ aod sha!! rnt~titute a a~en formality oaly. E XI. SAI.t UP PROPt K'IY. 1. 5hould the Iswcr drsire to cunvcy any ~~rti.~n ~i thc pruprrty scrurcd by thr _ Srcurity Instrurnent. lhc 'I'rustee is au~hwiced to execute a rckase thereuf. ~xuvidcd: (a) 'lLat the consideratioa for such conveyaace is.eyw! tv ur ~rcater tban the fa'n m~rkct value uf the prupc~t~~ at the time of sak. and that the value of the rcmainin~ praperty corered by the Security lastrumcnt is wifK•K•nt. in the opinion ot tbe 'Prustee. to ~ecurc ihe oatstandirq~ bonds hereundet. (b) 'IUat any ca~h Qrocetds derired frvm sucb cw~veywce be delivered to the 'frustee tu be ap ~lied ci~her (a) to call aad pre~~ay oub~ bondt in the samc manner +s partial prepayments ~re tu Ix a~~plie~ under thc pru- viswns oi Para~b V, w b) ~~aid iato ihe 'Prust Accoual tn tbe Bank tu be applied(i) toward the purchasc uf additionai prqxrty. +~pinst witbirh tht lauer shall gire s fint Sccurity Insttun~ent to the "frustee [or the bene(i~ ot i6e bondholden. a(ii) cwutruct additional improvements on the Qroper~y remainin~ uoder the Sccurity ln- ttrumrnt. or (iii forwud rcductioa of ao7 other ucurity insuumcnt ~ndebtcdness existi~ aR+ins~ the pn~e rty covered by tbe ~curity Instrumrnt. 'fhe lisuer. wb~ect to tbe a~proval of the 'Trustee. has the right to sckct whicb ot the above and forcgoina alternalives it deures to e:ercne. and shall notify the 'frustee. in writing. and in advaace, which altenwtive a ukcted by the Is~er. XI1. tL1.Et;AI. IN'fERliS'C ItAT}S. l. !f any imtercst rate described in this indenture or ~be bunJs ur interest coupons or in auy Security Itutrumcots e:ecuted pursuant hereto and ~•ontemporaaawsly hcrcwi~h. shall be in ezccs~ of the maxuaum IeRil nte ia the slate where thc Iswer is domicikd. the s~id interest rate ~xll be autu- maticsUy rcducod to tbe masiawm interest cate whicb is pennis:itrk under the law~ of said sts~e. :qll. DE tAUL'f AND tORtCtASURE. 1f the lw~er dcfault: in the paymen~ oI ~ny bond at mawri~v. w thc _ ~?terest un soy bond. u ame becomes ¢ue. or if tbe Iswet [aits to make tbe necestary ~kpo~+ts to the Cusaxiia~ ot t~nd~. to be paid by said Custodian orer to the ReRistrarPayinR A~cat af providod hereinaburc. or if the ' I~wer shouW fai[ w maiutain inwrance on its Propeny as requirod hereiaabove. and wcb de[wlt sfi~wW cuntinue , ~ fa aiae~Y ~90I d'+ys ~fte~ °°~ice by the Trustee. tfien. at the daaetion of the Tniuee. ths entire balance ot all > ' ot tbe bonds outaundin~~ hereunder a~ay be delared due and mar bt colkcttd in any manner provided by law. i However. the Trwtee ~ball aot be require~ as asainst its d'acrrtion to declue the entire balance due or to attemp~ , ~ Boox274 ~ 928 { ~ ~