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1-6 No Transfers; Provision for Releases; Grants of Easements and <br /> Similar Interests <br /> (a) The County shall not sell, transfer or encumber any interest in any <br /> Mortgaged Property, except as otherwise permitted by the Trust Agreement or this <br /> Deed of Trust. This prohibition applies whether the sale, transfer, or encumbrance is <br /> of a legal or an equitable interest, is voluntary, involuntary, by operation of law, or <br /> otherwise, and includes any encumbrance that is not a Permitted Encumbrance. BNY- <br /> M may take any action it deems appropriate to prevent or rescind any unauthorized <br /> sale, transfer or encumbrance. <br /> (b) BNY-M is required, upon the County's direction and at any time, to <br /> execute and deliver all documents necessary to effect the release of all or any <br /> portion of the Mortgaged Property from the lien of this Deed of Trust upon the <br /> County's compliance with the requirements of this Section. No consent or <br /> acknowledgment by the Deed of Trust Trustee is required for any release under this <br /> Section. <br /> (c) To obtain a release, the County must file with BNY-M a County <br /> Certificate (i) stating that (A) no Event of Default is continuing, (B) the release will <br /> not materially impair the intended use of the property remaining subject to this <br /> Deed of Trust, and (C) the release complies with the requirements of this Section, <br /> (ii) providing a copy of the proposed instrument of release, (iii) directing the <br /> execution and delivery of the instrument, and (iv) providing evidence of compliance <br /> with (v) or (vi) below. BNY-M may not release any property under this subsection <br /> (b) during the continuation of an Event of Default. <br /> (v) In the case of a proposed release of all the Mortgaged Property, the <br /> County must pay to BNY-M, or to some other fiduciary reasonably acceptable to <br /> BNY-M, an amount (A) that is sufficient to provide for the payment in full of all <br /> Bonds Outstanding and any other Obligations and (B) that is required to be used for <br /> that payment. <br /> (vi) In the case of a proposed release of a portion (but less than all) of the <br /> Mortgaged Property, the County must provide evidence to BNY-M that the <br /> appraised, taxable or insured value (and the County may provide different evidence <br /> for different portions) of that portion of the Mortgaged Property that is proposed to <br /> remain subject to the lien of this Deed of Trust will not be less than 50% of the <br />