1983-102 - Laserfiche WebLink

Home Browse Search

5. The Issuer has represented and Joes hereby represent th~t it ~as full power and authority to issue and sell the Bonds, to i.J.:in th~ proceeds to the Borrower, to pledge the receipts from 'lnJ t:1 •.:onnection with the Loan Agreement and to assign its 1n:.er•1sts under the Loan Agreement and the Note as security for th~ :k>nJsi .1nd that the Issuer has taken all action required by l~~ to 1uthorize its officers to execute, acknowledge and deliver this ra:.lcnture and to execute and issue the Bonds. o. All things necessary to m~ke the Bonds, when authen- tic.:it~d ,:,y ti1e Trustee and issued as provided in this Indenture, th~ ·.·.-1 l 1 J, binding and legal obligations of the Issuer according to t:1e import thereof, and to make this Indenture a valid •lqret?.,1ent of the Issuer, in accordance with its terms, and a lien oa -::1e .:mct·-1aged property and a valid pledge of the proceeds deri.•J•~d from the Loan A3reement, have been done and performed, 1.nJ ':.'.h? ,:r•.?ation, execution and delivery of this Indenture, and the :re3tiJn, execution and issuance of the Bonds, subject to the t~r~s ~er~of, have in all respects been duly authorized. 7. The Trustee has duly accepted the trusts created by thi3 :~Jenture and as evidence thereof has joined in the execu- ti:in i1.:!rcof. GilAWI' Or-' TRUST ESTA'rl::: l, Por and in consideration of the premises, the mutual coven3nts of the Issuer an~ the Trustee and the purchase of the donjs ·.)1 t.he holders thereof and in order to secure the payment of the ~rincipal of, premium, if any, and interest on the Bonds, accocji.ng to their tenor and effect, and the performance and ui.Jser-1,J.ace iJy the Issuer of all the covenants expressed or implit3d herein and in the Donds, the Issuer does hereby grant, bar3~i~. sell, convey, assign, ~ortgage, grant a security inter~st. in and pledge to the Trustee and its successors and assi~ns forever all of its right, title and interest in and to ti1e f:J l lJ•,..i.ng ( the "Trust Estate"), upon the terms herein for the equal ~nJ proportionate benefit, security and protection of all nolJers and owners of the nonds, without privilege, priority or Jistinction .:1s to the lien or otherwise of any of the 13onds over .:iny ,Jths.!r :l~n<ls: (a) Th~ ,-Jote. (h) The Loan /\grcement (except for any rights of the rs;;uer ~m.ler the Loan /\greement necessary to protect the Issuer's intecests in connection with the performance of its obligations un,J,!r ~he Lo.:in Agreement .:incl the Indenture, incluc.ling the right -11-