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(a) So long as no Event of Default is continuing, the Company and the <br />Deed of Trust Trustee uTill, upon the County's request and at any time, execute and <br />deliver all documents necessary to effect the release of Mortgaged Property from <br />the lien of this Deed of Trust upon the County's compliance with the requirements <br />of this Section. <br />(b} In connection with the release of a portion (but less than all) of the <br />Mortgaged Property, the Coulzty must file wTith the Company and the Deed of Trust <br />Trustee either (i) an appraisal prepared by an Appropriate Consultant, or (ii) <br />evidence of listed tax value or insured value, in any case showing that the <br />appraised value of that portion of the Mortgaged Property that is proposed as the <br />portion that is to remain subject to the lien of the Deed of Trust is not less than <br />85% of the aggregate outstanding principal component of the Installment <br />Payments. <br />(c) In the case of a proposed release of all the Mortgaged Property, the <br />County must pay to the Trustee (or other fiduciary) an amount (i) which is <br />sufficient to provide for the payment in full of all Outstanding Certificates in <br />accordance with [Article III and Article VII] (if applicable) of the Trust Agreement <br />and {ii) which is required to be used for such paymel~t. <br />(d) In any event, the County must file with the Company and the Deed <br />of Trust Trustee (i) a certified copy of a County Board resolution stating the <br />purpose for ~~jluch the County desires such release, giving an adequate legal <br />description of the portion of the Mortgaged Property to be released and requesting <br />such release, (11) a copy of the proposed instnunent of grant or release, (111} a <br />written application signed by a County Representative requesting such instrument, <br />and (iv} a certificate executed by a County Representative that no Event of Default <br />is continuing and that the grant or release will not materially impair the intended <br />use of the Pledged Facility. <br />(e) In addition to the provisions for release described above, <br />(i) The Count~J may from time to time grant easements, licenses, <br />rights-of--way and other similar rights with respect to any part of the <br />Mortgaged Property, and the County may release such interests, with or <br />without consideration. The County must send notice of any such grant or <br />release to the Company, along with a certificate that such grant or release <br />will not materially impair the intended use of the Pledged Facility. <br />93 361)v3 6 <br />