HomeMy WebLinkAbout1828 . . ~
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~ i~acrcox 7.04. ~hould uny psrt oi th~ mortgsged pro~ea~ty be tulcea by axeroiee of the power of e~nlnent
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~ ' doniain, or ehould any governmental body at s~r tlme eaeroiee epy right wbioh it may hsve to purahaee sny ;
~ ' part of the mortgaged property, the Trustee upon Requeet ehsll releaee the gart oi the mortgaged praperty
~ . eo taken or purohaeed ewd shall be fully pmteated in doing eo upon the ~vatee baing furniahed with an
F ~ Opinon of Cowieel to the effeot tt~t euch part of ttie mortgt?ged pmperty hsa been taken by~ the oxerniee of
g . the power of emi~ent domain or purchased by n government,~?1 body in tho eaerciae of the right ~rhich it had ~
~ to purchaee the same (epecifying the amount of the awerd made therein). Cash equal to the amount of such .
s award or the se?le price of such property shall be pe?i~ to the 15rt~atee prior to or concurrently with delivery
by it of such release. Praperty shall be deemed to be taken by exeroise of the power of eminent domain if eald
4 to any~ governmenf,al body under thr~at of eminent domain.
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~ ~ 8rartox ?.05. Any caeh received pursuant to $eationa 7.03 or 7.04 hereof s1iaU be held by the Truetee
~ ~e a part of tha mortgaged property, and shall, upon Request, be repaid to th~ Co~?psny upon reoeipt by
k : . the Tnaetee of : ~
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~ (a) A certificate pursuant to ~3ection 12.05(1) evidenoing a Gross Amount of Praperty Additione equsl
L' • to 100%Q of the nnmount of auch cash; and ~
; (b) an O~cer~' Certi&c~fs stating that thera 38 no default hereunder. - .
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~ Any balance of auch moneya not repaid to the Company within two years from the date of raoeipt by the
= Truetee, or within auch period t~hereafter aa the Tiwtee may aUow, or earlier at the requeet of the Company,
. ehall be applied by the Truatee to the retirement of bond~ pm rata as between all eeriea then outatanding at the
' redemption prics thereof then in eRect and in the manner and with the ef~ect specifiod ia ~rti~le 4 hereof.
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: ~scTriox 7.08. In the event that tlie proceeda fmm the sale of any property released ahsll coneist eolely oi
' cs+~h aggregating l~es than =5,000, the Trustee ahall re]eaee the same upon reoeipt of the dooumeAte speci6ed in ~
fiection ?.03(a)~ (b) and (f) hereof and unless the Compeny ahall h~?ve theretofore deposited with the ~tee
an amount of cash, to be heid and diaposed of in accordance with t6e p~vi8ione of Seation 7.Ob°hareof, equal ~
- ; to eaid pr~oceeda of eale as aha~vn by such docum~nt$ the Company s~ull, within 120 daye after the eloee of the
~ fieeal year in which auoh releaes ia eRected, furnish to the Trustee a ce~rtificate pursuant to Seotton 12.05(1)
~ evidencing a Ciroee Amount of Property Additiona equal to eaid pmceeda of sale as shown by euch documents,
~ ~ and eaeh, to be hsW pursuant to Section ?.05 her~uf, to the extsut of any deficienay in the Groee Amount of ~ ~
Property Additior~se so evidenced.
• $~c~xoN ~,Q't, Nn nurcheser fm~on the Comnanv of any pmperty re~eased by t~e Trust,ee ourausnt to this ~
- .Arrtiiole ehall be under say duty to inquire ea to the authority of the 7Ye~atee to gi~e such. rel~e, or to eee to
{ the application of the purchaeo money.
~ ~ S~c~cox 7.08. At ~?ny time when s defsult exiab hereuader to the kna~l~e of the Z~nutee, the ~te~ i
; may, in its diacretion, permit the relesee of property a~'the withdrewal of ~aeh purausnt to the provi~ione ot
s t~hi8 Article, but ahall not be required ta do eo except in the caee of pmperty t~?]cen by eminent domain.
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. ` ! . AR7CICLS 8 -
- ~ ' ; ~ . , ~errer, Coasolidatbn Or S~Ia . .
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, .~ivrtort 8.01. ~o lon; as sny bonds o# ~ertes A remain outst~din~ t~e Compeu~r eball uo~ oot~eoJid~te ' r
F ~ merge wit~6 or into, or oonvey or tranafer nll ar subet~wtia?lly ~11 of the nwrt~ad PmpartY ~a ~?h en4r~ty ,
` ~ . say other oorporatioa, w~ee tbe Company aha11 hava prior t6ereto obtained aurd filed with tha 75ruetea e
~ writtan ooneeat of tbe holder or hol~ers oi not Zae t~uw ~0% in aggre~te priucipt?l ~nount of the bouda of
~ ~ Beriee A at t~he time out~taadiag. Subject to tha foregoing restriotion, nut.6in~g ia this indenttire oont4iaed el~all
~ , prevent any ~o~olidst~a?n or merger of t6e Conapeay ~+ith or into, or a,ny oonveyanoe or tr~fer, eubjeot to #his .
iadenture, of all or subatanti~?tly ~?Il of~ the mortBaB~ P~P~Y ws uu entiretY f,o, u?Y aorpon?tion l~wfully
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~ = ~ ~o~~ 146 E~A~E 27
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