2006-06-07 Resolution 158 - Laserfiche WebLink

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• done after such completion dates and such endorsement shall be retarded as an addendum to this .ease. The Authority hereby represents that it i.s possessed of , or will acquire, a goad and. indefeasible estate in fee simple or an insurable right-af-way easement subject, only to Perm~.tted Encumbrances, to the above-described real estate, and the Authority warrants and will. defend the same against all clafms whatsoever not suffered or cawed by the acts ar omissions of the Lessee. 2. Section 14 of the ,ease is amended by deleting the entire text bf said Section 14 and substituting the €ollowing as the text of Section 14; SeCtign 1.4. ~ptiOFi to Purchase. {a1 Tax Exempt Pra~ect. The Authority Hereby grants to ~ the Lessee the right and option, on are~- rental, payment date, upon thirty days' written notice to the ~-uthority, to purchase the Tax-Exempt Pko~ect at a price equal to the amount zequired to enable the Authority to provide for the redemption of all autsta~,di.nq Tax-Exempt Bonds, all premiums gayabie on the redemption thereof, and accrued and unpaid interest thereon, and to pay the cost of redeeming the Tax-Exempt Harid$ and liquidating the Authority i€ it is to be liquidated. If the Lessee exercise it option to putrchase the Tax-;dxemgt Project, the Lessee shall pay to the Trustee that portion of the purchase price which is required to provide far the payment a€ all Tax-Exempt Bonds, including all premiums payable an the redemption thereof, accrued and unpaid interest thereon and costs of redemption thereof. Such payment shall Hat be made until the Trustee gives the Lessee a written statement that such amount will be sufficient tq retire all Tax-Exempt Bonds including all premiums payable ot~ the redemption thereof and accrued and unpaid interest. The remainder of such purchase price, if any, shall be pai$ by the Lessee to the Authority. {h) Taxable Pra~ect. The Authority hereby grants to the E,essee the right and option, an any rental gaymes~t date, upon thirty days` written native to the Autfs~."ity, to gurahase all a€ a part o€ the Taxable riro~ect. If the Lessee deterrni.nes to purchase all of the Taxable Project, the purchase gricQ shall equal the amount required to enable they Authority to provide far the iedernptiot7 s~f akl outstanding Tax~Exc~pt Bonds, all. prernrums payable on the redemption thereof, and accrued and unpa~.d ~.oterest thereon, and to pay the cost of zedeemirtg the Tax-Exesupt 3onds one ,.. ,. ..,. .. ,, .: ,. Z