Browse
Search
OTHER-2021-023 Escrow Agreement
OrangeCountyNC
>
Board of County Commissioners
>
Various Documents
>
2020 - 2029
>
2021
>
OTHER-2021-023 Escrow Agreement
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
8/27/2021 3:04:20 PM
Creation date
8/27/2021 3:02:52 PM
Metadata
Fields
Template:
BOCC
Date
5/18/2021
Meeting Type
Business
Document Type
Others
Agenda Item
8-e
Document Relationships
Agenda - 05-18-2021; 8-e - Adoption of the Final Financing Resolution Authorizing the Issuance of Installment Purchase Financing for Various CIP Projects and To Refinance Existing County Obligations
(Attachment)
Path:
\Board of County Commissioners\BOCC Agendas\2020's\2021\Agenda - 05-18-2021 Virtual Business Meeting
Agenda for May 18, 2021 Board Meeting
(Attachment)
Path:
\Board of County Commissioners\BOCC Agendas\2020's\2021\Agenda - 05-18-2021 Virtual Business Meeting
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
19
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
The Escrow Agent may resign and thereby become discharged from the duties <br /> and obligations created by this Agreement by giving written notice to the County. <br /> This resignation will take effect only upon the County's appointment of a new <br /> escrow agent. <br /> If the County fails to appoint a successor Escrow Agent within 45 days of <br /> notice from the departing Escrow Agent, the departing Escrow Agent may apply to <br /> any court of competent jurisdiction to appoint a successor Escrow Agent. The court <br /> may thereupon appoint a successor Escrow Agent after such notice, if any, as the <br /> court may deem proper. <br /> The Escrow Agent may be removed at any time by an instrument, or <br /> concurrent instruments, in writing, executed by the owners of not less than 51% in <br /> aggregate principal amount of the unpaid Refunded Obligations, such instruments to <br /> be filed with the County, and notice in writing given by such owners to the County <br /> and (unless all of the owners of the unpaid Refunded Obligations have consented to <br /> the removal) sent not less than 60 days before the removal is to take effect. <br /> The Escrow Agent may also be removed at any time for any material breach of <br /> trust or for acting or proceeding in material violation of, or for failing to act or <br /> proceed in accordance with, any provisions of this Agreement, by any court of <br /> competent jurisdiction upon the application of the County or the owners of not less <br /> than 10% in aggregate principal amount of the unpaid Refunded Obligations. <br /> Upon the appointment of any successor escrow agent, the departing Escrow <br /> Agent will execute any agreements, assignments and other documents as may be <br /> necessary to vest in the successor escrow agent all the title, rights, duties and <br /> obligations of the Escrow Agent under this Agreement and in the Escrow <br /> Investments and other funds deposited or to be deposited or received by the Escrow <br /> Agent under this Agreement, as the County may reasonably request. Upon <br /> acceptance by the successor escrow agent of the responsibilities under this <br /> Agreement, all further title, rights, duties and obligations of the departing Escrow <br /> Agent under this Agreement cease and are discharged, except for rights or liabilities <br /> accrued to or by the County or the Escrow Agent. <br /> 7 <br />
The URL can be used to link to this page
Your browser does not support the video tag.