Ordinance 1982-770 - Laserfiche WebLink

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Bond. This Bond s secured by an Assignment and Security Agree- ment, dated as of , 1982, and entered into between the - County and the Len er (the "Assi<gnment"), which evidences a pledge and assignment 0 revenues and receipts derived by the City pursuant to the oan Agreement and the Note of the Borrowers identified there n, as more ft:llly descr ibed in the Ordinance. The payment of principal and interest is further secured by a Deed of Trust, Assignm nt of Rents and Security Agreement, dated as of , 1982 , and entered into by and among the Borrowers the - Public Trustee of the County of Boulder, State of Colorado, and the Lender (the "Deed of Trust"). Reference is made to the Ordinance for a d scription of l:he provisions, among others, with respect to ture and exte~n t of the security, the rights, duties and oblig tions of the~ City, the rights of the Bond- holder, and the t rms on which the Bond is or may be issued and to all the provision to which the Bondholder assents, by the accep- tance of this Bon . is subject to optional prepayment by the City (on the request f the Borrowe]~s) , in whole or in part, on any interest payment date, upon pa'ymen t of the principal amoun t to be prepaid plus ccrued intere!st, without prepayment premium. The Bon is also subject to mandatory prepayment: (a) on any date, in hole, by the application of moneys received by the Lender from e proceeds of insurance or the proceeds of sale or condemnation 0 the Project upon an election by the Borrowers , any date, in whole, not to rebuild or restore the Project, (b) on by the applicati n of moneys received by the Lender from the Borrowers to prep y the Bond (i.n connection with the destruction or governmental t king of the Project) pursuant to Section 7.l(a) or (b) of the Loa Agreement, and ( c) on any date, in whole, if as a result of any c anges in the Constitution or laws of the State of Colorado or th Constitution of the United States or of legis- lative or adminis rative action (whether state or federal) or of a final decree, gment or order of any court or administrative - 13 - .. - ~ -- p--- __. _u