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Resolution No 16-2024 - Related to Property Conveyance to McCormick Company Lathrop St.
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Resolution No 16-2024 - Related to Property Conveyance to McCormick Company Lathrop St.
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4/17/2025 3:39:21 PM
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5/14/2024 4:19:37 PM
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Board of Public Works
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Resolutions
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5/14/2024
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revenues receives by the Lessor from the Project, as well as <br />the Project itself, are to be assigned, pledged and mortgaged <br />as security for the payment of principal of, premium, if <br />any, and interest on the Bonds. <br />"Independent Counsel" means an attorney or a firm of <br />attorneys duly admitted to practice law before the highest <br />court of any state, which attorneys or any member of such <br />firm of attorneys are not officers or full-time employees of <br />the Lessor or the Lessee. <br />"Independent Engineer" means an engineer or engineering <br />firm qualified to practice the profession of engineering <br />under the laws of Indiana and who or which is not a full- <br />time employee of either the Lessor or the Lessee. <br />"Lease" means this agreement and any amendments and <br />supplements hereof. <br />"Lease Term" means the duration of the leasehold estate <br />created in this Lease as specified in Section 5.1 hereof. <br />"Leased Equipment" means those items of machinery, <br />equipment and related property required or permitted herein <br />to be acquired and installed in the Buildina, or elsewhere <br />on the Leased Land, with proceeds from the sale of the <br />Bonds, or the proceeds of any payment by the Lessee pursuant <br />to Section 4.6 hereof (which property is described generally <br />in Exhibit B attached hereto and made a part hereof, and <br />will be described in the instrumentsreferred to in Section <br />12.7 hereof), and any item of machinery and equipment and <br />related property acquired and installed in the Building, or <br />elsewhere on the Leased Land, in substitution therefor or in <br />addition thereto, pursuant to the provisions of Sections <br />4.1(b), 6.8, 7.1 and 7.2 hereof, less such machinery, equip- <br />ment and related property as may be released from this <br />Lease, pursuant to Section 6.8 of this Lease, or taken by <br />the exercise of the power of eminent domain as provided in <br />Section 7.2 of this Lease, all as they may at any time <br />exist, but not including the Lessee's own machinery and <br />equipment installed under the provisions of Sections 6.1 and <br />9.7 hereof. <br />All of Lessee's own machinery and equipment installed <br />under Sections 6.1 and 9.7 hereof shall be and remain identi- <br />fied as such by tags or other symbols affixed thereto. All <br />property not so indentified shall be presumed to be Leased <br />Equipment. <br />"Leased Land" means the real estate, interests in real <br />estate and other rights described in Exhibit A attached <br />hereto, and made a part hereof, and any lease supplementing <br />I-2 <br />
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