1982-12-01 Regular Meeting - Laserfiche WebLink

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• • 1~~ u Assignment of Rents and Financing Statement, dated as of November 1, 1982 (the "Mortgage"), from the User to Edward H. LaPiair, as mortgage trustee, for the benefit of the Corporation, which was presented to the Board, the form, terms and provisions thereof being hereby authorized and approved. 4. The assignment of the Corporation's rights under the Mortgage to the Trustee for the benefit of the holders of the Bonds shall be effected pursuant to the terms and provisions of a collateral assignment and security agreement substantially in the form of the Collateral Assignment and Security Agreement, dated as of November 1, 1982 (the "Assignment"), from the Corporation to the Trustee, which was presented to the Board, the form, terms and provisions of such Assignment being hereby authorized and approved, and the President and any Vice President of the Corporation are hereby severally authorized and directed to execute and deliver such Assignment on behalf of the Corporation, and the Secretary of the Corporation is hereby authorized to attest and affix the Corporation's seal thereto, with such changes therein as the officers executing the same may approve, such approval to be con- clusively evidenced by such execution thereof. 5. The sale and delivery of the Bonds by the Corporation to Cullen Center Bank & Trust (the "Purchaser"), at the par value thereof, • is hereby authorized and approved. 6. The actions and obligations authorized in Paragraphs 1 through 5 of this resolution shall be subject to and conditioned upon the receipt by the Corporation, on th'e date of delivery and payment for the Bonds (the "Closing Date"), of (i) a letter of representation from the User, duly authorized and executed by the User, dated the Closing Date, substantially in the form of the Letter of Representation (the "Letter of Representation"), which was presented to the Board, the form, terms and provisions of such Letter of Representation being hereby authorized and approved and the President and any Vice President of the Corporation are hereby severally authorized to signify the Corporation's acceptance and confirmation of such Letter of Representation by executing the same on behalf of the Corporation in multiple counterparts; (ii) an invest- ment letter, duly authorized and executed by the Purchaser, dated the Closing Date, substantially in the form of the Investment Letter (the "Investment Letter"), which was presented to the Board, the form, terms and provisions of such Investment Letter being hereby authorized and approved; (iii) a certificate from a representative of the Texas Indus- trial Commission (the "Commission"), acting on behalf of the Commission, evidencing final approval of the Loan Agreement; (iv) the purchase price for the Bonds; and (v) such opinions, evidences, certificates, instru- ments or other documents as shall be requested by the Corporation's • -3-