1983-102 - Laserfiche WebLink

Home Browse Search

the Trustee on behalf of the Issuer to authenticate and Jeliver the Bonds to the purchaser or purchasers therein identified upon payment to the Trustee of the proceerJs of the sc1le of the nonds; (c) the original ~ate, an original executed counterpart of the Loan Agrsement and Mortgage, and a copy of the l?orrn UCC-1 Financing Statement filed to perfect the Security Interest; (d) a policy of title insurance in the form of an ALTA mortgagee's policy (or a binding commitment therefor) in an amount at least equal to the lesser , f ( i) the total cost of the Project, or (ii) the aggregate principal amount of the Bonds, which policy or co~nitment shall insure or commit to insure to the Trustee a lien on the Project, subject only to the aorrower's ri~hts hereunder and under the Loan Agreement, and to other Permitted 8ncumbrances; (e) an original signed counterpart of an opinion of counsel for the Borrower, addressed to the Issuer, the Trustee and bond counsel referred to below, with respect to the due organization and existence and good stc1nding of the Oorrower in its state of organization and its qualification to do business in the State, and to the effect that the Loan ~greement, this Indenture and other instruments and ,locuments executed and deli- vered by the narrower in connection herewith are and constitute legal, valii, binding and enforceable obligutions of the Borrower, except to ti1e extent that the enforceability thereof U\ay be limited by banl<:raptcy, reorganization or simil.lr lilws Li..11itin1 the enforceability of cretlitor's rights generally i'\nd ex:::ept that no opinion need be expressed as to the availability of ~ny discretionary e4uitable remedies; (£) an opinion of bond coun3el to the Issuer, addressed to the Issuer and to the Trustee, to the effect that the Oonds are legal and valid and that under existin1 statutes and court decisions, interest thereon is exempt fr-:Jm fe,1ar3.l income taxation, c1ssuming compliance with certain conrtitions imposed by the 'l'ax 1':quity and Fiscal Responsibility Act of 19l!2 (if not satisfied at the □on~ closing), except interest for any period during which any Dond shall be held by ct holder who is a "substantial user" of the l?rojec:t or who is a "relate<'\ person" to such user (as used in Section 103 (b) (9) of the co,la); (g) an opinion of counsel to the Guarantor, addressdd to the Issuer, the Tru~tee and bond counsel referreJ to above, with respect to the due or-.:1ani7.ation ancl existence and 100<1 stanuing of the Guar:rntur in its state of or,JcHli;'.;:J.tion, ancl to the effect that the Guar,1nty an,1 other instruments .1n,l .Joc1~ments -32-