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Agenda 10-01-19 Item 6-a - Adoption of the Final Financing Resolution Authorizing the Issuance of $37,000,000 in Installment Purchase Financing for Various CIP Projects Including Refinancing County Debt
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Agenda 10-01-19 Item 6-a - Adoption of the Final Financing Resolution Authorizing the Issuance of $37,000,000 in Installment Purchase Financing for Various CIP Projects Including Refinancing County Debt
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9/26/2019 1:13:08 PM
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BOCC
Date
10/1/2019
Meeting Type
Regular Meeting
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Agenda
Agenda Item
6-a
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Agenda 10-01-19 Regular Board Meeting
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13 <br /> (b) the property described in Exhibit A-2 and any real property later <br /> acquired by the County in exchange for, or in consideration of the exchange of, or <br /> with the proceeds from any disposition of, all or any part of any property described <br /> in this paragraph, and in all cases together with all easements, rights, rights-of-way <br /> and appurtenances belonging to any of that property (collectively, the "2019B <br /> Sites"); and <br /> (c) all buildings and other improvements and fixtures (including any <br /> "Fixtures," as defined in Section 1-4 of the 2018 Deed of Trust) now or later attached <br /> to or used in or on those improvements or the 2019B Sites, including (i) all <br /> renewals, replacements, and additions, (ii) all articles in substitution, (iii) all building <br /> materials for construction, improvement, modification or repair of improvements <br /> upon their delivery to the 2019B Sites, and (iv) all proceeds of all the foregoing in <br /> whatever form resulting from the loss or disposition of the foregoing, including all <br /> proceeds of and unearned premiums for any insurance policies covering the 2019B <br /> Sites and the improvements, proceeds of title insurance and payments related to the <br /> exercise of condemnation or eminent domain authority, and all judgments or <br /> settlements in lieu of any of the foregoing; <br /> TO HAVE AND TO HOLD the Mortgaged Property with all privileges and <br /> appurtenances belonging thereunto, to the Deed of Trust Trustee, her successors <br /> and assigns forever, upon the trusts, terms and conditions and for the purposes set <br /> out below, in fee simple in trust; <br /> SUBJECT, HOWEVER, to the encumbrances described in Exhibit B; <br /> BUT THIS CONVEYANCE IS MADE UPON THIS SPECIAL TRUST: if the <br /> County pays its "Obligations," as defined in Section 1-1 below, in full and in <br /> accordance with the Loan Documents, and the County complies with all the terms, <br /> covenants and conditions of the Loan Documents, this conveyance will be null and <br /> void and will be canceled of record at the County's request and cost, and title will <br /> revest as provided by law; <br /> BUT IF, HOWEVER, THERE OCCURS AN EVENT OF DEFAULT UNDER THE <br /> LOAN DOCUMENTS, then BNY-M will have the remedies provided for in the <br /> Modified Deed of Trust, including directing the Deed of Trust Trustee to sell the <br /> Mortgaged Property under power of sale. <br /> 4 <br />
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