Agenda - 11-16-2010 - 4k - Laserfiche WebLink

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proposed instrument of grant or release, including a complete legal description of the property to be released, (iii) a written application signed by a County Representative requesting such instrument, and (iv) a certificate. executed by a County Representative that no Event of Default is continuing and that the grant or release will not materially impair the intended use of the Facilities. (e) In addition to the provisions for release described above, (i) The County inay from time to time grant easements, licenses, rights- of-way and other similar rights with respect to any part of the Mortgaged Property, and the County may release such interests, with or without consideration. The County must send notice of any such grant or release to the Company, along with a certificate that such grant or release will not materially impair the intended use of the Facilities. (ii) The County may dispose of any inadequate, obsolete, worn-out, undesirable or unnecessary Fixture in accordance with Section 1-3. 2. County's Payment Obligation; Company's Advances 2-1 Payment of Obligations; Compliance with Covenants. The County shall pay the Obligations as and when the same become due and payable in the manner • set forth in this Deed of Trust and in the Financing Contract, and shall comply in all respects with all of the terms, covenants, and conditions contained in this Deed of Trust, in the Financing Contract, in the Trust Agreement and in the Bonds (together, the "Documents"). 2-2 Taxes and Other Governmental Charges. The County must pay, or cause to be paid, all taxes, assessments and other governmental charges related to the Facilities as provided in the Financing Contract. 2-3 Insurance. The County must obtain and continually maintain the insurance coverages (or alternative risk coverages) required by the Financing Contract. 2-4 Net Proceeds. The Net Proceeds of (a) any payments on insurance policies arising from any damage to the Mortgaged Property or (b) any action or proceeding in condemnation or related to condemnation, as provided for in the Financing Contract in any case will be payable and applied as provided in the Financing Contract. 2-5 Payment of Costs and Attorney's Fees. If the Deed of Trust Trustee or the Company employs an attorney to assist in the enforcement or collection of any Obligations, or if the Deed of Trust Trustee or the Company voluntarily or otherwise • becomes a party or parties to any suit or legal proceeding (including a proceeding conducted under any state or federal bankruptcy or insolvency statute) to protect the Mortgaged Property, to protect the lien of this Deed of Trust, to enforce collection of the 6