My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
79-012 RES
ElkRiver
>
City Government
>
City Council
>
Council Resolutions
>
1970 - 1979
>
1979
>
79-012 RES
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
4/2/2015 3:06:45 PM
Creation date
4/2/2015 3:06:44 PM
Metadata
Fields
Template:
City Government
type
RES
date
6/18/1979
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
16
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
. All of the agreements, conditions, covenants , <br /> provisions and stipulations contained in the Mortgage, <br /> Resolution, Construction Loan Agreement, Pledge Agree- <br /> ment and Assignment of Rents and Leases are hereby made <br /> a part of this Note to the same extent and with the <br /> same force and effect as if they were fully set forth <br /> herein. If a default occurs under this Note, or under <br /> the Mortgage, Loan Agreement, Construction Loan Agree- <br /> ment, Pledge Agreement or Assignment of Rents and Leases , <br /> then the Holder may at its right and option declare imme- <br /> diately due and payable the principal balance of this Note <br /> and interest accrued thereon to the date of declaration of <br /> such default, together with any attorneys' fees incurred <br /> by the Holder in collecting or enforcing payment thereof, <br /> whether suit be brought or not, and all other sums due <br /> hereunder or under the Mortgage, Construction Loan Agree- <br /> ment, Assignment of Rents and Leases , Loan Agreement or <br /> Pledge Agreement, anything to the contrary therein not- <br /> withstanding, and payment thereof may be enforced and <br /> recovered in whole or in part, at any time by one or more <br /> of the remedies provided in the Mortgage, in this Note, in <br /> the Construction Loan Agreement, Assignment of Rents and <br /> Leases, Pledge Agreement or in the Loan Agreement. The <br /> Holder may extend the time of payment of interest or con- <br /> sent of any party liable hereon, and without releasing any <br /> • such party. <br /> This Note and the interest thereon shall never <br /> constitute a debt of the City within the meaning of any <br /> constitutional provision or statutory limitation, and <br /> shall never constitute or give rise to a pecuniary <br /> liability of the City or a charge against its general <br /> credit or taxing powers . This Note and the interest <br /> hereon are payable solely from the revenues pledged to the <br /> payment thereof pursuant to the Loan Agreement and the <br /> Construction Loan Agreement and secured by the provisions <br /> of the Mortgage, the Assignment of Rents and Leases and <br /> the Pledge Agreement, and the Holder of this Note shall <br /> never have the right to enforce payment thereof against <br /> any property of the City, and this Note does not consti- <br /> tute a charge, lien or encumbrance, legal or equitable, <br /> upon any property of the City, and the agreement of the <br /> City to perform or cause the performance of the covenants <br /> and other provisions herein referred to shall be subject <br /> at all times to the availability of revenues from the Loan <br /> Agreement, the Construction Loan Agreement, the Assignment <br /> of Rents and Leases, the Pledge Agreement or from the Mort- <br /> gage, sufficient to pay all costs of such performance or <br /> the enforcement thereof. <br /> 411 <br />
The URL can be used to link to this page
Your browser does not support the video tag.