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72 <br /> condition of the Mortgaged Property, (3) the occurrence of any damage, destruction, loss or theft of the <br /> Mortgaged Property which is not repaired or replaced and for which there are not received from insurance <br /> policies or appropriated moneys from any risk management program, (4)problems relating to the paucity <br /> of alternative uses of the facilities arising from their design, zoning restrictions, use restrictions, <br /> easements and encumbrances on the Mortgaged Property and (5) environmental problems and risks with <br /> respect to the Mortgaged Property. <br /> The Trust Agreement permits the issuance of Additional Bonds without regard to the value of the <br /> Mortgaged Property, and the Modified Deed of Trust allows for up to $200 million in principal amount of <br /> Bonds to be secured thereby. To the extent that Additional Bonds are issued and no additional property is <br /> subject to the Modified Deed of Trust, the value of the collateral as a percentage of the outstanding <br /> principal amount of Bonds should be expected to decrease,which decrease may be material. <br /> NO REPRESENTATION IS MADE AS TO THE VALUE OF, OR THE AMOUNT OF PROCEEDS THAT MAY <br /> BE REALIZED FROM, THE COUNTY'S INTEREST IN THE MORTGAGED PROPERTY IN THE EVENT OF A <br /> FORECLOSURE. <br /> UNINSURED CASUALTY <br /> If all or any part of the Mortgaged Property is damaged or destroyed by any casualty or taken by <br /> any governmental authority, the County is obligated under the Trust Agreement to apply any Net <br /> Proceeds from insurance or condemnation (1)to repair, restore or rebuild the Mortgaged Property or <br /> (2)to provide for the redemption or defeasance of all, but not less than all, of the Bonds. If the County <br /> applies any Net Proceeds to repair, restore or rebuild the Mortgaged Property and such Net Proceeds are <br /> not sufficient to repair, restore or rebuild the Mortgaged Property to its condition prior to such damage, <br /> destruction or taking, then the value of the Mortgaged Property would be reduced. The Trust Agreement <br /> requires that certain insurance be maintained with respect to the Mortgaged Property. Such insurance <br /> may not,however, cover all perils to which the Mortgaged Property is subject. <br /> OUTSTANDING GENERAL OBLIGATION DEBT OF THE COUNTY <br /> The County has issued general obligation bonds and may issue general obligation bonds and <br /> notes in the fixture. The County will pledge its faith and credit and taxing power to the payment of its <br /> general obligation bonds and notes to be issued. See Appendix A, "THE COUNTY—DEBT <br /> INFORMATION" attached hereto. FUNDS WHICH MAY OTHERWISE BE AVAILABLE TO PAY BOND <br /> PAYMENTS OR ADDITIONAL PAYMENTS OR TO MAKE OTHER PAYMENTS TO BE MADE BY THE COUNTY <br /> UNDER THE TRUST AGREEMENT MAY BE SUBJECT TO SUCH FAITH AND CREDIT PLEDGE BY THE COUNTY <br /> AND THEREFORE MAY BE REQUIRED TO BE APPLIED TO THE PAYMENT OF ITS GENERAL OBLIGATION <br /> INDEBTEDNESS. <br /> ENVIRONMENTAL RISKS <br /> A Phase I environmental site assessment was performed on the site of the Northern Campus in <br /> 2018, which revealed no recognized environmental conditions. [Is there a Phase I for the Southern <br /> Campus?] The sites of the Government Services Annex, the Emergency Operations Center and the <br /> Visitors Center have been owned by the County since 1968, 2005 and 1997,respectively. The sites of the <br /> Link Center and the District Attorney's office have been owned by the County since 1967 and 1992, <br /> respectively. [The site of the Southern Campus has been owned by the County since_]. The County is <br /> not aware of any material environmental contamination on such sites. <br /> 16 <br />