764 - Laserfiche WebLink

Home Browse Search

4W .,rr Clic Cted to, tame t!C [?E CC:;f: 3ry steps to frAoise said !'Md:_ bcim(j utilized In any such expansion proyram from the lien of this Indenture. Furthenmore, it is recognized that the City may issue bonds (in addition to the bonds secured by this Indenture) to finance the cost of any such expansion program, and nothing in this Indenture shall be construed as prohibiting the City from issuing bonds for such purpose, from entering into a separate lease agreement with the Lessee under the Lease Agreement, or entering into a supplemental lease agreement with the Lessee under the Lease Agreement, or the Lessee's authorized successors and assigns, from pledging the rentals derived from any such separate lease agreement or any such supplemental lease solely to the payment of the bonds then being issued, from placing a first lien by mortgage on and pledging all revenues derived from any lands and improvements covered by said separate lease agreement or said supplemental lease agreement, and on any facilities, equipment and other properties purchased, constructed, or otherwise acquired out of the proceeds of the bonds then being issued, even though some of said property may be located on lands and improvements constitu- ting part of the mortgaged property under this Trust Indenture and even though some of said property may have been released from the lien of this Trust Indenture pursuant to the provisions of this Article. Also, without releasing the lien of this Indent lre, the City may place a lien upon any portion of the mortgaged property under this Trust Indenture as security for the bonds then being issued, or make a pledge of any of the revenues pledged under this Trust Indenture in favor of the bonds then being issued, so long as any such lien on the mortgaged property covered by this Trust Indenture and any such pledge is subordinate to the lien and pledge of this Trust Indenture to and in favor of the bonds secured hereby.