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Ordinance 1858-92
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Ordinance 1858-92
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5/2/2017 10:41:42 AM
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Ordinances
Ordinance Number
1858-92
Date
2/12/1992
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NOW, THEREFORE, for good and valuable consideration, receipt <br /> of which is hereby acknowledged, the Seller hereby assigns and <br /> transfers, conveys and warrants to Security Pacific Bank <br /> Washington, N.A. as Trustee ("Trustee") under that certain Trust <br /> Agreement dated , between the Trustee and the <br /> Underwriter: <br /> A. All of Contractor's Seller's right, title and interest <br /> in, under and the certain Amended and Restated-the Ground Lease a <br /> memorandum of which 13 mid um4er Snehem-i3h County Auditor's <br /> Reference No. , subject to the City's rights <br /> therein. <br /> B. All of Contractor's Seller's right, title and interest <br /> in the Improvements constructed on the Property and in that certain <br /> including Amendment No. thereto, but <br /> said construction and Imprevemento which arc retained by and shall <br /> • <br /> rights therein. The street address of the Improvements is as <br /> follow3: <br /> 36th Street and Rucker Avenue, Everett, Washington <br /> C. All of Contractor's Seller's right, title and interest <br /> in, under and to the Amended and Restated Lease by and between City <br /> and Seller dated , a memorandum of which is recorded under <br /> Snohomish County Auditor's Reference No. _ , subject to the <br /> City's rights therein. <br /> D. In the event the Amended and Restated Lease is ever <br /> deemed by a court of proper jurisdiction or otherwise to evidence <br /> a sale of the Improvements and the retention by Seller of a <br /> security interest in said Improvements, all of Seller's right, <br /> title and interest in said security interest. <br /> The Improvements, Amended and Restated Ground Lease and <br /> Amended and Restated Lease as assigned shall be held under the <br /> Trust Agreement for the benefit of the owners from time to time of <br /> the Certificates delivered pursuant to the Trust Agreement by and <br /> between Trustee and Underwriter under ' date of <br /> Trustee hereby agrees to and accepts such Assignment and Deed and, <br /> in addition, expressly assumes and agrees to keep, perform and <br /> fulfill all of the terms, covenants, obligations and conditions <br /> required to be kept, performed and fulfilled by Contractor under <br /> or with respect to the Amended and Restated Ground Lease and <br /> Amended and Restated Lease from and after the date hereof. The <br /> assignment hereunder to the Trustee is solely in its capacity as <br /> B-E-2 <br />
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