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14-20 Cedar Glen Bond Ordinance Addendums
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14-20 Cedar Glen Bond Ordinance Addendums
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Last modified
3/18/2020 2:57:42 PM
Creation date
3/18/2020 2:55:23 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
3/23/2020
Bill Number
14-20
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Section 5.6. Negative Covenants. <br /> (a) Limitation on Liens. The Borrower shall not create, assume, incur or <br /> permit to exist or to be created, assumed or incurred, directly or indirectly, any Lien on <br /> any of the properties or assets of the Borrower whether now owned or hereafter acquired, <br /> except Permitted Liens. <br /> (b) Indebtedness. So long as no Event of Default or Default hereunder shall <br /> have occurred and be continuing, the Borrower shall be permitted to incur any <br /> Indebtedness for any Project Cost or other obligation or payment due under this <br /> Agreement, the Indenture or the Regulatory Agreement. <br /> (End of Article V) <br /> 19 <br />
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