83-110 Ordinance - Laserfiche WebLink

Home Browse Search

restricting transfer) and shall express on purpose for which they are issued and such or legends as may be advisable or required Project Bonds shall be transferable by the completion of the form of assignment attacl Bonds and the concurrent assignment to the Assignment. their f ace the other statements by law. The Bondholders by Zed to the Proj ect assignee of the Notwithstanding anything to the contrary contained herein, any payment to be made to the Bondholders pursuant to the provisions hereof shall be deemed made if paid to Capital. Upon final payment of principal and interest on the Project Bonds, the Project Bonds shall be surrendered by the Bondholders to the Fiscal Officer, for cancellation, at the principal office of the Issuer. The Project Bonds shall be executed on behalf of the Issuer by the Executive and by the Fiscal Officer, provided that either or both of such signa- tures may be facsimiles, and shall bear the seal of the Fiscal Officer or a f acsimile thereof. Section 4. Payment of and Security for the Pro'ect Bonds. The Project Bonds shall be (a) payable, as set forth in the Project Bonds, solely from the Pledged Receipts and from proceeds from any security for the Project Bonds, and (b) secured by the Mortgage, the Assignment and the Assign- ment of Rents,and Leases. Anything in this Bond Legislation or the Project Bonds to the contrary notwithstanding, nei- ther this Bond Legislation, the Note, the Bond Purchase Agreement, the Assignment, the Project Bonds, nor the Agree- ment shall constitute a debt or a pledge of the faith and credit of the Issuer, and the obligations of the Company to make Loan Payments and other payments under Section 4.1 of the Agreement and, pursuant to the Note under Section 4.2 of the Agreement, and any other payments to be made by and obligations of the Company under this Bond Legisl ation, the Note, the Mortgage, the Agreement, the Assignment of Rents and Leases, the Assignment, the Bond Purchase Agreement and the Project Bonds shall be satisfied entirely from (i) the Mortgaged Property, as defined in the Mortgage, (ii) the Assignment of Rents and Leases and (iii) any other security securing the Project Bonds. Neither the Company nor any partner of the Company, whether general or limited, shall have any personal liability, and no deficiency or other personal judgment, nor any order or decree of specific performance shall be rendered against the Company or its partners or its or their successors, transferees or assig ns, as the case may be, in any action or proceeding brought on- the Note, the Project Bonds, this Bond Legislation, the Agreement, the Assignment, the Mortgage, the Bond Purchase 14