Orange County NC Website
Browse       Search
no actions, proceedings or investigations pending or threatened <br /> against or affecting the Company (or any basis therefor known to <br /> the Company) before any Court, arbitrator , administrative agency <br /> or other governmental authority, which if adversely decided would <br /> materially affect its ability to carry out any of the terms, <br /> covenants and conditions of any of the Bond Documents or this <br /> Assignment, (d) each of the Bond Documents is in full force and <br /> effect, (e) no payments due or to become due under the Loan <br /> Agreement and the Note have been prepaid, and (f) neither the <br /> Assignor nor the Company is in default in the performance of, or <br /> compliance with, any term or condition of any of the Bond Docu- <br /> ments and no off-set or claim exists against the Assignor or the <br /> Assignee with respect to any of the Bond Documents or this <br /> Assignment. <br /> ( 6) Miscellaneous <br /> This Assignment is intended to create and does create in the <br /> Assignee, as security for the payment of the principal of, <br /> premium, if any, and interest on the Bond, a security interest in <br /> all the payments due under the Loan Agreement and the Note and in <br /> all proceeds from the Security Agreement and the Deed of Trust. <br /> This Assignment is subject to the provisions of Sections <br /> 11.12 and 11. 13 of the Loan Agreement with regard to limitations <br /> on the Assignor ' s general credit and the personal or pecuniary <br /> liability of any member, officer, agent or employee of the <br /> Assignor . <br /> This Assignment shall be governed by and construed in accor- <br /> dance with the laws of the State of North Carolina. <br /> This Assignment shall be binding upon the Assignor, includ- <br /> ing its successors and assigns, and shall inure to the benefit of <br /> the Assignee, including its successors and assigns. <br /> - This Assignment may be executed in several counterparts, <br /> each of which shall be an original and all of which shall consti- <br /> tute one and the same instrument. <br /> IN WITNESS WHEREOF, the Assignor has caused this Assignment <br /> to be executed and its corporate seal to be hereunto affixed by <br /> 7 . <br />