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"Project" means, collectively, the real estate at the time comprising
<br />the Project Site, and the real and personal property at the time comprising
<br />the Project Facilities, each as defined in the Agreement, together comprising
<br />a commercial office building with retail space on the ground floor containing
<br />approximately 45,800 square feet of sPace which shall be rehabilitated into
<br />first class office and retail space on the ground floor.
<br />
<br /> "Project Bonds" means the $1,780,000 Industrial Development First
<br />Mortgage Revenue Bonds (Detroit/Warren Building Project) of the Issuer autho-
<br />rized in Section 3 hereof and Section 2.02 of the Indenture.
<br />
<br /> ~Project Fund" means the Project Fund created in Section 5.01 of the
<br />Indenture.
<br />
<br /> ~Project Note" means~the nonnegotiable promissory note of the Com-
<br />pany, dated as of even date with the Project Bonds initially issued, in the
<br />form attached to the Agreement as Exhibit A and in the principal amount of
<br />$1,780,000 evidencing the obligations of the Company to make Loan Payments.
<br />
<br /> "Project Purposes~ means acquiring, improving and rehabilitating an
<br />existing office building, containing approximately 45,800 square feet of
<br />space, with retail space located on the ground floor, or any other use which
<br />may be permitted under the Agreement.
<br />
<br /> 'Revenues~ means (a) the Loan Payments, (b) all other moneys received
<br />or to be received by the Issuer or the Trustee in respect of repayment of the
<br />Loan, including without limitation, moneys and investments in the Bond Fund,
<br />(c) any moneys and investments in the Project Fund, and (d) all income and
<br />profit from the investment of the foregoing moneys.
<br />
<br />~State" means the State of Ohio.
<br />
<br /> "Supplemental Indenture" means any indenture supplemental to the
<br />Indenture entered into between the Issuer and the Trustee in accordance with
<br />Article VIII of the Indenture.
<br />
<br /> "Trustee" means Bank One, Akron, National Association, until a suc-
<br />cessor Trustee shall have become such pursuant to the applicable provisions of
<br />the Indenture, and thereafter "Trustee" shall mean the successor Trustee.
<br />
<br /> The captions and headings in this Bond Legislation are solely for
<br />convenience of reference and do not define, limit or describe the scope or
<br />intent of any provisions or Sections of this Bond Legislation.
<br />
<br /> Section 2. Determinations by Legislative Authority. This Legisla-
<br />tive Authority determines that: (t) the Project is a "project", as defined in
<br />the Act, and is consistent with the purposes of Section 13 of Article VIII,
<br />Ohio Constitution; (ii) the utilization of the Project is in furtherance of
<br />the purposes of the Act and will benefit the people of the Issuer and of the
<br />State by preserving and creating jobs and employment opportunities and im-
<br />proving the economic welfare of the people of the Issuer and of the State; and
<br />(iii) provision of the loan to finance costs of the Project, including without
<br />limitation, the financing thereof, will require the issuance, sale and deliv-
<br />ery of the Project Bonds in the principal amount of $1,780,000 and hereafter
<br />may require the Issuer's best efforts to issue, sell and deliver Additional
<br />Bonds as provided in the Indenture.
<br />
<br /> This Legislative Authority also determines that, following reasonable
<br />notice, and prior to adoption of this Bond Legislation, a public hearing was
<br />held with respect to the issuance of the Project Bonds, as required by Section
<br />103(k) of the Code.
<br />
<br /> Section 3. Authorization of Project Bonds; Additional Bonds. This
<br />Legislative Authority determines it to be necessary to, and the Issuer shall,
<br />issue, sell and deliver, as provided and authorized herein and in the Inden-
<br />ture and pursuant to the authority of the Act, $1,780,000 principal amount of
<br />
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