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Agenda - 11-13-2018 8-e - Nonprofit Capital Funding Loan Agreement
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Agenda - 11-13-2018 8-e - Nonprofit Capital Funding Loan Agreement
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BOCC
Date
11/13/2018
Meeting Type
Regular Meeting
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Agenda
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8-e
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Agenda - 11-13-2018 Regular Board Meeting
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\Board of County Commissioners\BOCC Agendas\2010's\2018\Agenda - 11-13-2018 Regular Meeting
Minutes 11-13-2018
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\Board of County Commissioners\Minutes - Approved\2010's\2018
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40 <br /> comply with the terms of this Deed of Trust, the Deed of Trust Trustee and the County are <br /> authorized, but not obligated, to perform or cause to be performed such obligations. All such <br /> expenditures,together with interest thereon at the rate of 8.00%per year, shall be secured as <br /> obligations under this Deed of Trust. <br /> 2-7 Maintenance and Repairs; Additions. <br /> (a) The Property Owners will keep the Mortgaged Property in good order and repair <br /> (reasonable wear and tear excepted) and in good operating condition,will not commit or permit <br /> any waste or any other thing to occur whereby the value or usefulness of the Mortgaged Property <br /> might be impaired, and will make from time to time all necessary or appropriate repairs, <br /> replacements and renewals. <br /> (b) The Property Owners from time to time may make any additions, repairs, <br /> modifications or improvements to the Mortgaged Property that it may deem desirable and that do <br /> not materially impair the effective use, nor materially decrease the value or substantially alter the <br /> intended use, of the Mortgaged Property. All such additions, repairs, modifications and <br /> improvements within the boundaries of the site shall become a part of the Mortgaged Property. <br /> The Property Owners will do, or cause to be done, all such things as may be required by law in <br /> order fully to protect the County's security. <br /> 2-8 Environmental Warranties and Indemnification. <br /> (a) The Property Owners warrant and represent to the County as follows: <br /> (i) The Property Owners have no knowledge and, after reasonable inquiry,no <br /> reason to believe (A)that any industrial use has been made of the Mortgaged <br /> Property, (B)that the Mortgaged Property has been used for the storage, <br /> treatment or disposal of chemicals or any wastes or materials that are <br /> classified by federal, State or local laws as hazardous or toxic substances, (C) <br /> that any manufacturing, landfilling or chemical production has occurred on <br /> the Mortgaged Property, or(D)that there is any asbestos or other contaminant <br /> on, in or under the Mortgaged Property. <br /> a <br /> (ii) The Mortgaged Property is in compliance with all federal, State and local <br /> environmental laws and regulations. Any hazardous materials or substances <br /> kept on the Mortgaged Property will be used in the routine maintenance and <br /> operation of the Mortgaged Property and will be used in accordance with label <br /> instructions. <br /> (iii) The Property Owner will promptly notify the County of any change in the <br /> nature or extent of any hazardous materials, substances or wastes maintained <br /> on, in or under the Mortgaged Property or used in connection therewith, and <br /> will promptly send to the County copies of any citations, orders,notices or <br /> other material governmental or other communication received with respect to j <br /> any other hazardous materials, substances, wastes or other <br /> environmentally regulated substances affecting the Mortgaged Property. <br /> (b) The Property Owner and ,NONPROFIT CORPORATION shall <br /> indemnify and hold the County and the Deed of Trust Trustee harmless from and against <br /> 5 <br />
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