11-14-01 1. INDENTURE OF TRUST - Laserfiche WebLink

Home Browse Search

WHEREAS,the Borrower has also agreed to execute and deliver to the City and cause to be assigned to the Trustee a Subordinate Combination Mortgage,Security Agreement,Fixture Financing Statement and Assignment of Leases and Rents of even date herewith(the"Subordinate Mortgage"),to secure the payment of the Subordinate Bonds,and the Borrower's obligations under the Loan Agreement with respect thereto; and WHEREAS,the execution and delivery of this Indenture and the Loan Agreement and the issuance of the Series 2001 Bonds have been in all respects duly and validly authorized by the City Council of the City pursuant to a resolution adopted by the City Council(as further described herein,the "Bond Resolution"); and WHEREAS,the execution and delivery of this Indenture have been duly authorized by the City Council,and all conditions,acts and things necessary and required by the Constitution and laws of the State of Minnesota, or otherwise,to exist,to have happened or to have been performed precedent to and in the execution and delivery of this Indenture, and in the issuance of the Series 2001 Bonds, do exist, have happened or have been performed in regular form,time and manner,and the execution and delivery of this Indenture have been in all respects duly authorized; and WHEREAS,the Trustee has accepted the trust created by this Indenture and in evidence thereof has joined in the execution; NOW,THEREFORE,THIS INDENTURE WITNESSETH: GRANTING CLAUSES To secure the payment of the principal of,premium(if any)and interest on the Bonds of all Series issued and outstanding from time to time under this Indenture and the performance and observance of all terms of the Bonds and this Indenture, and in consideration of the mutual covenants herein and of the purchase and acceptance of the Bonds of all Series from time to time by the Holders(or Beneficial Owners) thereof,and for other good and valuable consideration,the receipt whereof is hereby acknowledged,the City hereby grants,bargains,sells,assigns,transfers,conveys,pledges and sets over,unto the Trustee,and to its successor or successors in the trust hereby created and to its assigns forever and the Trustee hereby expressly accepts,the following(the "Trust Estate"): I. All of the rights and interests of the City in the Loan Agreement,the Mortgage and the Subordinate Mortgage,except for the rights of the City relating to expenses, indemnity,payment of attorneys' fees and advances of the City under Sections 4.03(b), 6.01, 6.10 and 8.10 of the Loan Agreement. II. A first lien on and pledge of all right,title and interest in the moneys and investments in any other fund or account to be created and maintained by the Trustee under this Indenture (other than the Rebate Fund). - 2 -