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CITY-OF-BATESVILLE
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4/30/2019 1:37:16 PM
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I VAWW °*W <br />2. A certificate signed by the Mayor of the City <br />and an officer of the Lessee identifying the <br />property and stating in substance as follows: <br />(a) that the retention of such property is no <br />1cr;,-,er desirable in the conduct of the business <br />cf the City pertaining to the project or of the <br />Le4see and that the usefulness of the project <br />for `he manufacturing purposes for which designed <br />will not be impaired by its release; (b) that the <br />property is being sold or exchanged for a consid- <br />eration representing, in the opinion of the <br />signer, its fair market value which consideration <br />may be (i) cash, (ii) other property or (iii) <br />partly cash and other property and partly obliga- <br />ticzs secured by a purchase money mortgage upon <br />the property released, such consideration to be <br />set out in reasonable detail in such certificate. <br />Section 803. Any equipment placed in or on the mortgaged <br />property, whether in exchange or in lieu of any sold, removed or <br />disposed of under Section 802 hereof, or otherwise placed therein or <br />thereon at any time, except equipment, machinery and personal property <br />placed thereon by the Lessee or third parties at no expense to Lessor <br />and to which the title remains in the Lessee or third parties, shall <br />automatically become and be subject to the lien of this Indenture as <br />if specifically mortgaged hereby. The City will, however, upon <br />written request by the Trustee, convey the same to the Trustee by <br />appropriate instrument and cause the same to be recorded and filed in <br />such manner as appropriate to secure and continue the lien of this <br />Indenture thereon. <br />Section 804. Any money stated in the certificate referred <br />to in Section 802 (b) (2) above to be the consideration for any such <br />property to be released and any real and personal property of <br />whatever nature. <br />
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