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BUT IF, HOWEVER, THERE OCCURS AN EVENT OF DEFAULT UNDER THE <br /> "DOCUMENTS," as defined below, then BNY-M will have the remedies provided for <br /> in this Deed of Trust, including directing the Deed of Trust Trustee to sell the <br /> Mortgaged Property under power of sale. <br /> THE COUNTY COVENANTS AND AGREES with the Deed of Trust Trustee and <br /> BNY-M (and their respective heirs, successors and assigns), in consideration of the <br /> foregoing, as follows: <br /> 1. Warranties of Title: Security Provided by this Deed of Trust <br /> 1-1 Warranties of Title. The County covenants with the Deed of Trust <br /> Trustee and BNY-M that the County is seized of and has the right to convey the <br /> Mortgaged Property in fee simple, that the Mortgaged Property is free and clear of <br /> all liens and encumbrances other than Permitted Encumbrances (as defined in the <br /> Trust Agreement), that title to the Mortgaged Property is marketable, and that the <br /> County will forever warrant and defend title to the Mortgaged Property (subject to <br /> the Permitted Encumbrances) against the claims of all persons. <br /> 1-2 Security for Payment and Performance. The County is delivering <br /> this Deed of Trust (a) to secure the County's payment, as and when the same <br /> become due and payable, of all amounts payable by the County (the "Obligations") <br /> under (i) the Trust Agreement, (ii) this Deed of Trust, (iii) the Bonds, and (iv) any <br /> Additional Bonds, as defined in the Trust Agreement, as may be executed and <br /> delivered pursuant to the Trust Agreement (together, the "Documents"), and (b) to <br /> secure the County's timely and full compliance with all terms, covenants and <br /> conditions of the Documents. <br /> 1-3 Present and Future Advances. This Deed of Trust is executed to secure <br /> all the County's present and future obligations to the Trustee related to amounts <br /> advanced to the County or owed by the County under the Documents. The making of <br /> future advances is subject to the terms and conditions of the Trust Agreement and <br /> this Deed of Trust. The amount of the present obligations secured by this Agreement <br /> is [$45,000,000] and the total amount, including present and future obligations, that <br /> may be secured by this Deed of Trust at any one time is $200,000,000. The period <br /> within which future obligations may be incurred is 30 years from June 1, 2021. <br /> 4 <br />