HomeMy WebLinkAbout1808 . . r
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{ BvsJaar To euah r~rvatione and exoeptions ~ are more ~peoifie~lly eet forth.iu~sohedule Par~"I, ~
~ •het~eof, inotuding leaaee, if an~r~ existing at the date hereof, and to auaf~ liens and enoumbranoe~ ss are of ths
oharaater epeoi6ed in 8eotion 3.09 hereof; .
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4 , ~ BUT ~P~OITIC1iLLY R~T~RVIN4 AND ERaEPTINQ ItOIII ~18~~~leg~lllB B~t~ • : • . '
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; . A. All cAah, notes, bille and acoounts reoeivable not speoifieally pjedged hareunder; ~
B. All atocke, bonde and eeauriti~es not apeoi6aa,Ily pledged hereunder; ~
C. All consumable materiala and euppliea aad merchandiee held for reeale; •
. D. The last day of the term of each leasehold estate; and
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i ~ ~ E. All automotive equipment, o~ce furniture and equipment and toola. ~ , , ~
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~ ~ Paovm~n, HowEtr~x, that if the Truetee, or any reoeiver appointed hereunder, sba1Z enter iutc?. podeea~3on
~ of the mortgaged property such 'I~ustee shall thereupon be entitled to talce po~eeesion of aad use aqy of f~
; e~cept~l propsrty t,han on hand and, so long as suah poeeession ahall c,ontinue, thie indent,ure ebull be a lisn
on.all such property, subject to auch 14en8 and enoumbrancea as n4a,y thsn e~rist thereon. •
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s PROVIDED '~TRTHER~ that the parties heteto rec~agnize that the terme of the FHA Z~t Deed vest naked j
; f~e ~imple f,itle to the properiy therein'described (and identified a~ Paroele 7A aad 7B in Part II of 8chedule B) in ~
tbe FHA 1~ustee which has joined in the executian of this Indenture at tLe request of the Company for tt~
purpose of aecuring payment of the principal of, interest on, and premium~ if any, of the bonde eubject to
= the expresa unclerstanding that such FHA Z~ruatee is not peraonally liable for any euch paym~ents, it being
understood that if the FHA 'I~uetEe takes over the operation of the propertiea aubject ta the FHA ~t
Deed sa therein pmvided and pernutted, the holdere of 66~% of the bonda at tl~e time outstanding, or tha .
; Trustee, may forthwith desiguate a substitute ta operate such propertiea, in which event the FHA 1~rustee
; agrees to reaign and to accept such substitute named by the bondholdera or tha Truatee. . '
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. To H~vE ~rr~ To Hor.n the mortgaged property unto the ~uatee and ita succ5essore in saSd trust and °
aasign8 forever, bu.t in tricst s~vertheless for the purpoee~ hereinafter eet forth and upon the ternae voutained ~
~ : herein; : . - . -
: PaovtD~n, How~vES, that if the Company, its auccesaora or asaigne, ehall pay or cause to be gaid ~coord-
i~ ing to their tenor and eff€x: the boncis and °.:l1 oum4. d::; t~°viwII'.~ wa+~ °aj'uw°~u vu~oca
~v °wii ~iwv v~a
iwTawiaio w:a~
} aonditions hereof, tbis indenture ehall, pureuant to the provisions of Article 11 hereof~ be vo~, but otherwiae • ~
a. sliall rewain in fuD force and effect. .
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~ AND IT I8 FQ$T~Trft COVENANTED~ declared, snd agreed as folbwe: .
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t . ~ . . . ~ ARTICLS 1 : . . , ,
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~ ~ . . , - - The ~Bon~s F: . " . ~ ' . 1 . . ;
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~ 8sortoH l.Ol. Tbe ~ggregAte prinoipal wnount of bond~ whioh mny be iee~~ed bereunder is limited to ttie :
~ : iaitbsl ies~ue of Series A 6onda, and to the ~ddttion~l ~ie~~nce of boacia of other eeri~ per~nitted by Artiale 8, ,
~ ~ ' ` ~ exoept ae to ~ranefere, eubatitutior~s ~rrd exchnnges of bonds provided tor bereln. ' ' ' . . .
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~ i: ,~~vtzoH.1.02. Tbe ba~ sh~?11 be generully ~ignat~ed t~be Compsuy's "Fint .Marlgsge Bonds,~' and = ~
€ ~ j; ' shnil be ie~ued in euoh appmpriately deaigaut,ed eeri~e aa the Board of Direotora ~~11, from time to #,faae,
~ ~ ~ cletermine. - . . . . • - . ~ .
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