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1999-07-12 Resolution 133
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1999-07-12 Resolution 133
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7/16/2008 2:36:45 PM
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7/16/2008 2:28:12 PM
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applied by the escrow agent in accordance with the terms of an escrow agreement to be entered into <br />by the Authority and any such escrow agent. <br />AGREEMENT <br />NOW, THEREFORE, in consideration ofthe premises set forth in the Recitals above <br />and the mutual covenants and agreements herein contained, the Authority and the Escrow Trustee <br />agree as follows: <br />Section 1. Definitions. In addition to the terms heretofore or hereinafter defined, <br />the following terms mean: <br />(a) "Agreement" means this Escrow Agreement. <br />(b) "Downtown Property Acquisition Project Principal and Interest Account" <br />means the account established by the Commission within the Redevelopment District Bond Fund, <br />as hereinafter defined, created by the Commission in order to receive certain revenues which have <br />been designated for payment of Lease rentals. <br />(c) "Escrow Fund" means the fund established and held by the Escrow Trustee <br />pursuant to this Agreement, in which the Commission shall deposit Lease rentals for payment of the <br />Note. <br />(d) "Fiscal Agent" means Chase Manhattan Bank, formerly known as Chemical <br />Bank, as trustee under that certain .Trust Agreement, dated January 1, 1995, by and between <br />Chemical Bank (now known as Chase Manhattan Bank), as trustee, and the Secretary of Housing <br />and Urban Development, and supplements or amendments thereto, or such successor trustee as may <br />be appointed pursuant to the terms thereof. <br />LJ <br />-3- <br />::ODMA\PCDOCS\SBDOCS 1\37351\1 <br />
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