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No. 1694 approving a modification to and reducing the annual rentals on lease for downtown property acquisition project and approving the execution of an addendum to the lease
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No. 1694 approving a modification to and reducing the annual rentals on lease for downtown property acquisition project and approving the execution of an addendum to the lease
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10/18/2012 2:13:36 PM
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shall, nevertheless, on the written request of such successor Escrow Trustee or the Authority, execute <br />and deliver an instrument transferring to such successor Escrow Trustee all the estates, properties, <br />rights, immunities, powers, trusts, duties and obligations of such predecessor hereunder; and every <br />predecessor Escrow Trustee shall deliver all securities and moneys held by it as Escrow Trustee <br />hereunder to such successor. Should any transfer, assignment or instrument in writing from the <br />Authority be required by any successor Escrow Trustee for more fully and certainly vesting in such <br />successor Escrow Trustee the estates, properties, rights, immunities, powers, trusts, duties and <br />obligations hereby vested or intended to be vested in the predecessor Escrow Trustee, any such <br />transfer, assignment and instruments in writing shall, on request, be executed, acknowledged and <br />delivered by the Authority. <br />(e) Any corporation into which the Escrow Trustee, or any successor to it in the <br />trusts, duties and obligations created by this Agreement, may be merged or converted or with which <br />it or any successor to it may be consolidated, or any corporation resulting from any merger, <br />conversion, consolidation or reorganization to which the Escrow Trustee or any successor to it shall <br />be a party shall, if approved in writing by the Authority (which approval shall not be unreasonably <br />withheld), be the successor Escrow Trustee under this Agreement and vested with all of the title to <br />the Trust Estate and all the estates, properties, rights, immunities, powers, trusts, duties and <br />obligations of its predecessor without the execution or filing of any paper or any further act, deed <br />or conveyance on the part of any of the parties hereto, anything herein to the contrary <br />notwithstanding. <br />Section 11. Payments to Escrow Trustee. The Escrow Trustee shall be entitled <br />to payment and reimbursement for fees and for its services rendered hereunder and all advances, <br />.' <br />0 ''� <br />::ODMA\PCDOCS \SBDOCS 1\37351 \1 <br />
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