Agenda - 06-24-1986 - Laserfiche WebLink

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( the "Loan Agreement" ) , between the Authority and the Company, the Authority has agreed to lend the proceeds of the Bond to the Company and the Company has issued its promissory note ( the "Note" ) , bearing interest corresponding to the interest rate on this Bond with principal in the same amount payable on the same date as this Bond, to the Authority in evidence of the loan. The Bond is secured by ( i ) an Assignment, of even date here- with ( the "Assignment" ) , by the Authority pursuant to which the Authority has endorsed without recourse to the order of and pledged to the Purchaser , the Note and assigned to the Holder certain rights of the Authority under the Loan Agreement and the Security Agreement (hereinafter defined) , ( ii) a Security Agree- ment, of even date herewith ( the "Security Agreement" ) , from the Company to the Authority pursuant to which the Company has granted to the Authority a security interest in certain personal property more fully described therein, ( iii) a Deed of Trust, of even date herewith (the "Deed of Trust" ) , from the Company to , as trustee for the benefit of the Authority, relating to certain real property more fully described therein, ( iv) a Guaranty Agreement, of even date herewith (the "Company Guaranty" ) , from the Company to the Purchaser, pursuant to which the Company unconditionally guarantees the payment of the Bond and (v) a Personal Guaranty Agreement of even date herewith (the "Personal Guaranty" ) , from Mr . and Mrs. Jerome J. Richardson ( the "Personal Guarantors") to the Purchaser, pursuant to which the Personal Guarantors unconditionally guarantee the payment of the Bond. Reference is hereby made to the Bond Purchase Agreement, the Loan Agreement, the Note, the Assignment , the Security Agreement, the Deed of Trust, the Company Guaranty and the Personal Guaranty and to all amendments and supplements thereto for a description of the provisions, among others, with respect to the nature and extent of such security, the rights, duties and obligations of the Authority and the rights of the Holder with respect thereto. In the event of the prepayment by the Company of all or a portion of the unpaid balance of the payments to be made pursuant to the Note in accordance with Section 10.1 of the Loan Agreement, the Holder shall apply such moneys to the payment of all or a portion, respectively, of the unpaid principal pale on the Bond and to interest accrued thereon to the date of ypre- payment. In the event of a prepayment in part, amounts to be applied to the prepayment of installments of principal on the Bond shall be applied to payments of principal in the inverse order of their scheduled maturities. In the event of a Determination of Taxability, the Company is required to prepay the entire unpaid balance of the principal of the Note, all as provided in Section 10. 2 of the Loan Agree- A-3 Ills►