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83-152 Ordinance
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83-152 Ordinance
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1/11/2014 12:36:21 PM
Creation date
12/26/2013 9:40:45 AM
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North Olmsted Legislation
Legislation Number
83-152
Legislation Date
12/20/1983
Year
1983
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<br />? <br />to or continuation statement or instrument of similar character relating <br />to any of the pledges and assignments made in the Note Legislation or <br />the Note Documents or any filing, registration or recording of the Note <br />Documents, or any amendment or supplement thereto, the Issuer will cause <br />to be delivered to the Mortgagee evidence satisfactory to the Mortgagee, <br />that such filing, registration or recording has been duly accomplished <br />and setting forth the particulars thereof. <br />(f) Inspection of Project Books. All books and documents in the <br />Issuer's possession relating to the Pro3ect or to the Pledged Receipts <br />shall at all times be open to inspection by such agents of the Mortgagee <br />as the Mortgagee may from time to time designate. <br />(g) Maintenance of Note Documents. The Issuer shall take all <br />actions necessary to comply with its obligations, duties and responsi- <br />bilities under the Note Documents and will take all actions within its <br />authority to maintain the Note Documents in effect in accordance with <br />the terms thereof and to enforce and protect the rights of the Issuer <br />thereunder. <br />(h) Arbitrage Provisions. The Issuer will restrict the use of <br />the proceeds of the Project Note in such manner and to such extent, if <br />any, as may be necessary, after taking into account reasonable expecta- <br />tions at the time the Project Note is delivered to the Original Pur- <br />chaser, so that it will not constitute an arbitrage bond under Section <br />103(c) of the Code and the regulations prescribed under that section. <br />The Fiscal Officer, the Executive Officer, any member of the Legislative <br />Authority or any other officer having responsibility with respect to the <br />issuance of the Notes, is suthorized and directed, alone or in conjunc- <br />28
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