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OTHER-2022-024-Fourth Supplemental Trust Agreement
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OTHER-2022-024-Fourth Supplemental Trust Agreement
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Last modified
9/28/2022 10:09:28 AM
Creation date
9/28/2022 10:07:44 AM
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Template:
BOCC
Date
5/3/2022
Meeting Type
Business
Document Type
Others
Agenda Item
8-j
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NOW, THEREFORE, in consideration of the covenants contained in this <br /> Supplemental Agreement, the parties agree as follows: <br /> ARTICLE I <br /> THE 2022 BONDS <br /> Section 1.01. Provision for 2022 Bonds; Advance. (a) The County will <br /> issue, and the Trustee will authenticate and deliver, 2022 Bonds in an aggregate <br /> principal amount of$41,535,000. <br /> (b) The County acknowledges that the amount paid to it from the issuance <br /> and sale of the 2022 Bonds will be $41,535,000. The County will use the amount <br /> paid as provided in this Supplemental Agreement to pay 2022 Project Costs. <br /> Section 1.02. Bonds Constitute Installment Contracts. Each of the 2022 <br /> Bonds, together with the County's corresponding obligations under the Trust <br /> Agreement and the Deed of Trust, constitutes a separate "installment contract" <br /> within the meaning of Section 160A-20 between the County and the owner of that <br /> Bond. The County's payment obligations, and its other obligations under this <br /> Agreement and with respect to the Bonds, are secured by the lien on the Mortgaged <br /> Property created under the Deed of Trust and by the other security provided for in <br /> the Trust Agreement. <br /> Section 1.03. Agreement Supplements 2018 Agreement; 2022 Bonds <br /> Are Additional Bonds. (a) This Supplemental Agreement is a "supplemental <br /> agreement" for the issuance of Additional Bonds as provided in the 2018 <br /> Agreement, and the 2022 Bonds are "Additional Bonds" as defined in the 2018 <br /> Agreement. <br /> (b) Except as modified by this Supplemental Agreement, all terms of the <br /> Prior Agreement remain in effect and apply with respect to the 2022 Bonds to the <br /> same extent as to all Prior Bonds. <br /> Section 1.04. Form and Details; Payments. (a) The 2022 Bonds will be <br /> issued initially as two fully registered bonds. The 2022 Bonds will be in <br /> substantially the form of Exhibit C, with any changes as the Trust Agreement <br /> 2 <br />
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