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and assigns forever, upon the trusts , terms and conditions and for the purposes set <br /> out below, in fee simple in trust ; <br /> SUBJECT , HOWEVER, to the encumbrances described in Exhibit B ; <br /> BUT THIS CONVEYANCE IS MADE UPON THIS SPECIAL TRUST : if the <br /> County pays its " Obligations , " as defined in Section 1 - 1 below, in full and in <br /> accordance with the Loan Documents, and the County complies with all the terms , <br /> covenants and conditions of the Loan Documents , this conveyance will be null and <br /> void and will be canceled of record at the County' s request and cost, and title will <br /> revest as provided by law , <br /> BUT IF , HOWEVER , THERE OCCURS AN EVENT OF DEFAULT UNDER THE <br /> LOAN DOCUMENTS , then BNY - M will have the remedies provided for in this <br /> Modified Deed of Trust, including directing the Deed of Trust Trustee to sell the <br /> Mortgaged Property under power of sale , <br /> The County covenants with the Deed of Trust Trustee and BNY - M that the <br /> County is seized of and has the right to convey the Mortgaged Property in fee simple , <br /> that the Mortgaged Property is free and clear of all liens and encumbrances other <br /> than Permitted Encumbrances , as defined in Section 2 - 2 , that title to the Mortgaged <br /> Property is marketable , and that the County will forever warrant and defend title to <br /> the Mortgaged Property (subject to the Permitted Encumbrances ) against the claims <br /> of all persons . <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 /> Security Pi ovided <br /> _ 1 Security for Payment and Performance . The Modified Deed of <br /> Trust secures the County' s payment, as and when the same become due and <br /> payable , of all amounts payable by the County under the Loan Documents (the <br /> " Obligations " ) and the County ' s timely compliance with all terms , covenants and <br /> conditions of ( a ) the Loan Documents and (b ) any Additional Bonds , as defined in <br /> and as may be executed and delivered pursuant to the 2021 Agreement, as <br /> supplemented from time to time . <br /> 4 <br />