HomeMy WebLinkAbout1443 •
~ ~
• . ~ .
~ f
,t f.
~~1
L,
• ~
R ~
,'1 .
" ~ .
'
UCEO r~Er,n~r~ :
~ 1423 ~A~.F ~54 ~
~o~
~O1~224 lN~~Eit~~i1
r.~.re. s. a
• 5 ;
.
. option of the Conipany, be invested and reinvested in Eligible S~ecuri-
• ~ ties as deSned in the Indentnre snbject to the provisiona of the Inden-
ture. iSnch investwents shAll be rnade by the Escrow Agent as directed
` ~ind designated by the Company. All income and other gain from such ~
investments shall become a part of and be carried to the credit of the _ i
Eserow Fund and any loss resnlting from anch investmenta ahall be ~
charged to the Escro~v Fund. As and when any amonnts invested as ~
aforesaid may be needed for disbursement from the Escrow Fund, the {
Escrow Agent shall cause a su~cient amonnt of snch investments to be ;
sold or otherwise converted into cash to the credit of the Eacrow Fnnd. '
i
3. CONPEYAFOa O? LBJBaD PBEYI8E8. i
i
; (a) Date of Conveya+~ce. The conveyance to Properties of each
Leased Parcel ahall ooonr no earlier than the time of the first Closing
held in connection with the issnance of the Notes. The Company agrees ;
" to nse its best efforts to convey, within thirty bnainesa days after each ;
~
~ Closing held in aonnection with the isanance of the Notes, or, if not ~
~ practicable within snch time period, as soon thereafter prior to. ~
f December 15, 1972 as practicable, Leased Parcels 1~aving, together with t
~ all Leased Parcels previonsly conveyed to Properties, an aggregate i
~ Initial Pnrchase Price at least equal to the aggregate principal amonnt S
of Notes purchased at or prior to such Closing. ~
(b) Deeds. Each conveyance of a Leased Parcel ahall be effected
r I,y the delivery bp the Company to Properties of a full covenant and
~ warranty deed or cleeds in recordable form and in such form as ia
~ customary in the jurisdiction in ~hich the Leased Parcel is located, ~
~ ~luly e~ecuted and acknowledged, having a~ed thereto revenue stumps ~
: in the arnount (if any) required by law, and .granting to Properties a ~
G ' fec simple estate in snch Leased Parcel, limited as hereinafter provided, `
" and warranting that, subject to liena, charges, encumbrances and ~
C
~ violations permittecl by Paragraphs 3(d) and 4 the grantor has good ~
~ ~
and marketable title to ~uch Leased Parcel and that such estate is free
~ of ull other liens, charges, encumbrances and violations. Each such deed Y
} shall provide, as the sole special limitution on Properties' fee simple ~
' - estate in such Leased Parcel, that such estate sht~ll continue for only ;
~ so long as this T.e~se shall not liave been termint~ted pursuant to Para-
~ gr~ph 18(a). ~
~ ~
~
~ ~
~ i
t r
~
~11 ~~~~~442 '
:
~~.~'t . ~ ~i • . ~