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Agenda - 03-02-2006-8bDTC
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Agenda - 03-02-2006-8bDTC
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Last modified
9/2/2008 1:43:24 AM
Creation date
8/29/2008 9:11:49 AM
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BOCC
Date
3/2/2006
Document Type
Agenda
Agenda Item
8bDTC
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Minutes - 20060302
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\Board of County Commissioners\Minutes - Approved\2000's\2006
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defined below. The County will construct the Pledged Facility on the real property <br />described in Exhibit A. The County is the record owner of that real property. <br />Tlus Deed of Trust is given to secure current advances under the Financing <br />Contract of [$24,000,000], as well as potential future ads-rances in the total <br />maximum principal amount of [$75,000,000]. The time during which such future <br />advances may be made is 15 years from April 1, 2006. The current scheduled date <br />for final repayment is on or about April 1, 2026. <br />NOW, THEREFORE, <br />(1) in consideration of the execution and delivery of the Financing <br />Contract and other good and valuable consideration, the receipt and sufficiency of <br />~vluch are acknowledged, <br />(2) to secure the County's performance of all its covenants under this <br />Deed of Trust and under the Financing Contract, including the repayment of <br />amounts advanced pursuant to the Financing Contract, and <br />(3) to charge the Mortgaged Property, as defined below, with such <br />payment and performance, <br />the County sells, grants and conveys to the Deed of Trust Trustee, <br />successors and assigns forever, in trust, with power of sale, the follouTing <br />{collectively, the "Mortgaged Property"): <br />(a} the property described in Exhibit A, and all real property hereafter <br />acquired by the County in replacement of, or in substitution for, all or any part of <br />such premises, together with all easements, rights, rights-of-v~Tay and <br />appurtenances belonging to any such property (the "Pledged Site"); and <br />(b) the improvements described in Exhibit S and all other improvements <br />and fixtures no~T or hereafter attached to or used in or on those improvements or <br />the Pledged Site, including {i) all renewals and replacements thereof and all <br />additions thereto, (ii) all articles in substitution thereof, and {iii} all building <br />materials for construction or repair of such impro~Tements upon their delivery to <br />the Pledged Site {collectively, the "Pledged Facility"); <br />TO HAVE AND TO HOLD the Mortgaged Property with all privileges <br />and appurtenances thereunto belonging, to the Deed of Tnist Trustee, <br />9336Uv3 2 <br />
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