Ordinance 1818-91 - Laserfiche WebLink

(d) $ shall be held for payment of punch list items in accordance with the instructions and conditions set forth in the Construction Contract. (e) The remaining $ shall be applied to pay Capitalized Financing Costs, if any, as set forth in Exhibit C hereto. ARTICLE III AUTHORIZATION OF CERTIFICATES Section 3 . 01. Authorization of Certificates. Pursuant to this Trust Agreement, Underwriter authorizes and directs the Trustee to issue one series of Certificates in an aggregate principal amount equal to the outstanding principal balance of all Lease Payments due or to become due under the Lease ($1, 500, 000) and to act as Paying Agent and Registrar of the Certificates. Each Certificate shall evidence an undivided proportionate ownership interest in all right, title and interest of Lessor in the principal and interest components of the Lease Payments. The Certificates shall be issued in fully-registered form; shall be dated as of October , 1991; shall be in denominations representing $5, 000 increments of the principal component of such Lease Payments or any integral multiple thereof, except that no Certificate shall represent more than one principal maturity; shall be numbered separately in such manner and with any additional designation as the Trustee or its agent deems necessary for purposes of identification. The principal components of the Lease Payments, as represented by the Certificates, shall be in such amounts, shall bear interest at such rates (calculated on a 360- day year of twelve 30-day months) payable on each Interest Payment Date, and shall be due on October 1 of such years as set forth below: Maturity Year (October 1) Principal Amounts Interest Rates 1992 $ 65, 000 1993 70, 000 1994 75, 000 1995 75, 000 1996 80, 000 1997 85, 000 1998 90, 000 1999 95, 000 2000 100, 000 2001 110, 000 2002 115, 000 -8- D0T437 91/09/24