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

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(a) Assignment of Rights under Financing Contract. The Company • transfers and absolutely assigns to the Trustee, for the benefit of the Owners and without recourse against the Company, all of the Company's rights under the Financing Contract, including, without limitation, (i) the right to receive and collect all of the Installment Payments, (ii) the right to take all actions and give all consents under the Financing Contract, and (iii) the right to exercise such rights and remedies conferred on the Company pursuant to the Financing Contract as may be necessary or convenient (A) to enforce payment of the Contract Payments and any other amounts required to be deposited in any Fund established under this Trust Agreement, or (B) otherwise to protect the Owners' interests if the County defaults under the Financing Contract. Any Installment Payments collected or received by the Company will be deemed to be held and to have been collected or received by the Company as the Trustee's agent, and if received by the Company at any time will be deposited by the Company with the Trustee within one Business Day after receipt. (b) Assignment of Rights under Deed of Trust. The Company transfers and absolutely assigns to the Trustee, for the benefit of the Owners and without recourse against the Company, all of the Company's rights as beneficiary under the Deed of Trust. (c) Assignment of Moneys and Investments. The Company absolutely assigns to the Trustee, for the benefit of the Owners and without recourse against the Company, • all moneys and investments thereof held by the Trustee in the Funds and Accounts under this Trust Agreement. The Trustee will hold all such moneys in trust and will apply the same to the purposes specified in this Trust Agreement. The foregoing assignments are absolute and not for the purpose of security. Notwithstanding the foregoing assignments, the Company will retain its rights to notices, indemnification and payment of costs under the Financing Contract and the Deed of Trust. Section 5.02. Limited Obligation. Each Bond will evidence a proportionate and undivided ownership interest in Installment Payments. The Bonds are payable solely from Installment Payments as, when and if the same are received by the Trustee, except to the extent payable from the proceeds of the Bonds, income from investments, and Net Proceeds as provided in this Trust Agreement and the Financing Contract, which Installment Payments and other moneys are pledged as provided herein to secure payment of the Bonds. ARTICLE VI • INVESTMENT OF MONEYS IN FUNDS Section 6.01. Investments Authorized. 15