Laserfiche WebLink
SENT BY:KUTAKROCK 01— 4-92 + 2:32PM 2022230491.4 12192371125+#43 <br /> Rr <br /> Section 412. Final Balances,. Provided there is no event of default under the Collateral <br /> Agreement and such Collateral Agreement has not otherwise been terminated, upon final - <br /> payment of all principal of, premium, if any, and interest on the Bonds, and upon satisfaction <br /> of all claims against the Issuer and the Trustee hereunder, including the payment of all fees, • - <br /> charges and expenses of the Trustee and the Issuer that are properly due and payable hereunder, • <br /> and any other fees and charges that are properly payable under Section 4.03 hereof, or upon the <br /> making of adequate provision for the payment of such amounts, as permitted hereby, all money <br /> remaining in all funds or accounts under this Indenture (other than the Rebate Fund) shall be • <br /> paid to the Depositor. <br /> Section 413. Procedure When Funds Are Sufficient to Pay All Bonds. (a) If at any time <br /> the amounts held by the Trustee in the funds established under this Article IV are-sufficient to <br /> pay all principal of, redemption premium, if any, and interest on all Bonds then Outstanding on <br /> the next regular payment date thereof, together with any amounts due the Trustee, the Trustee <br /> shall notify the Issuer, the Mortgage Servicer and the Developer to that effect and thereafter the <br /> Trustee shall apply, subject to any applicable FHA requirements, the amounts in such funds first <br /> to the payment or prepayment of such principal and interest, and second, to the payment of any <br /> amounts due to itself, and the Trustee shall credit such payments to prepayment of the.Mortgage <br /> Note and the Mortgage, in accordance with the prepayment provisions of the Mortgage Note and <br /> Mortgage, and the redemption provisions of the Bonds. <br /> . (b) Upon payment of the principal of and interest on all Bonds Outstanding, together <br /> with any amounts clue to the Trustee; the Trustee will cancel the Mortgage Note and deliver the <br /> same to the Developer and -shall execute such instruments and take such other action as the <br /> Developer may request to satisfy and discharge the Mortgage. <br /> (End of Article IV) <br /> 3112.1 19 <br />