Common use of Acquisition and Use of Project Facilities; Term Clause in Contracts

Acquisition and Use of Project Facilities; Term. The Corporation hereby agrees to sell the Project Facilities on an installment basis to the County in accordance with the provisions hereof. As of the date hereof, title to the Project Facilities is in the name of the Corporation. Upon each payment of Base Payments from funds other than amounts constituting Bond Proceeds (including any amounts deposited from the sale of Series 2020 Bonds as provided in Section 5.1 of the Trust Agreement and income from the investment of such amounts), title to an undivided interest in the Project Facilities equal to that percentage of the Acquisition Price represented by such payment will transfer from the Corporation to the County without further action by either party hereto. In conjunction therewith, the Corporation hereby conveys and grants to the County an undivided interest in the Project Facilities which undivided interest shall increase pro rata based on the percentage of the Acquisition Price represented by each Base Payment. At the request of the County, the Corporation agrees to execute such quitclaim or special warranty deed(s) to the County indicating the undivided interest so acquired by the County. Any prepayment of Base Payments will result in a recalculation of the Acquisition Price to take into account such prepayment and, upon the making of such prepayment, the County shall be credited with an undivided interest in the Project Facilities equal to that percentage of the total Acquisition Price, as adjusted, represented by the total of all Base Payments made, including the prepayment on such date. Subject to the provisions of Section 4.7 and Article VIII hereof, the County shall have the exclusive right to occupy and use the Real Property and the Project Facilities until this Facilities Agreement is terminated. In addition to the Lease Agreement, the County may permit agencies or instrumentalities of the State or any other political subdivision thereof to use portions of the Real Property and the Project Facilities subject to the following limitation: (i) the Real Property or Project Facilities shall not be used in any manner that interferes with the use of such property by the County for the purposes for which it was designed or is then being used; and (ii) except in the case of single event uses, the County shall have received an opinion from Bond Counsel stating that the proposed use will not adversely affect the federal income tax treatment of interest on the Series 2020 Bonds. The County shall monitor all such use to ensure continued compliance with the provisions of the Tax Regulatory Agreement and Section 5.3 hereof.

Acquisition and Use of Project Facilities; Term. The Corporation hereby agrees to sell the Project Facilities on an installment basis to the County in accordance with the provisions hereof. As of the date hereof, title to the Project Facilities is in the name of the Corporation. Upon each payment of Base Payments from funds other than amounts constituting Bond Obligation Proceeds (including any amounts deposited from the sale of Series 2020 Bonds Notes or other Obligations as provided in Section 5.1 of the Trust Agreement and income from the investment of such amounts), title to an undivided interest in the Project Facilities equal to that percentage of the Acquisition Price represented by such payment will transfer from the Corporation to the County without further action by either party hereto. In conjunction therewith, the Corporation hereby conveys and grants to the County an undivided interest in the Project Facilities which undivided interest shall increase pro rata based on the percentage of the Acquisition Price represented by each Base Payment. At the request of the County, the Corporation agrees to execute such quitclaim or special warranty deed(s) to the County indicating the undivided interest so acquired by the County. Any prepayment of Base Payments will result in a recalculation of the Acquisition Price to take into account of such prepayment and, upon the making of such prepayment, the County shall be credited with an undivided interest in the Project Facilities equal to that percentage of the total Acquisition Price, as adjusted, represented by the total of all Base Payments made, including the prepayment on such date. Subject to the provisions of Section 4.7 and Article VIII hereof, the County shall have the exclusive right to occupy and use the Real Property and the Project Facilities until this Facilities Agreement is terminated. In addition to the Lease Agreement, the The County may permit agencies or instrumentalities of the State or any other political subdivision thereof to use portions of the Real Property and the Project Facilities subject to the following limitation: (i) the Real Property or Project Facilities shall not be used in any manner that interferes with the use of such property by the County for the purposes for which it was designed or is then being used; and (ii) except in the case of single event uses, the County shall have received an opinion from Bond Counsel stating that the proposed use will not adversely affect the federal Federal income tax treatment of interest on the Series 2020 BondsNotes or other tax-exempt Obligations issued to retire or refund the Series 2020 Notes or other Obligations. The County shall monitor all such use to ensure continued compliance with the provisions of the Tax Regulatory Agreement and Section 5.3 hereof.

Acquisition and Use of Project Facilities; Term. The Corporation hereby agrees to sell the Project Facilities on an installment basis to the County City in accordance with the provisions hereof. As of the date hereof, title Title to the Project Facilities is located on the Real Property will be upon the acquisition or construction thereof in the name of the Corporation. Upon each payment of Base Payments from funds other than amounts constituting Bond Proceeds (including any amounts deposited from the sale of the Series 2020 Bonds 2018 Bond as provided in Section 5.1 of the Trust Agreement Indenture and income from the investment of such amounts), title to an undivided interest in the Project Facilities equal to that percentage of the Acquisition Price represented by such payment will transfer from the Corporation to the County City without further action by either party hereto. In conjunction therewith, the Corporation hereby conveys and grants to the County City an undivided interest in the Project Facilities which undivided interest shall increase pro rata based on the percentage of the Acquisition Price represented by each Base Payment. At the request of the CountyCity, the Corporation agrees to execute such quitclaim or special warranty deed(s) to the County City indicating the undivided interest so acquired by the CountyCity. Any prepayment of Base Payments will result in a recalculation by the Purchaser of the Acquisition Price to take into account of such prepayment and, upon the making of such prepayment, the County City shall be credited with an undivided interest in the Project Facilities equal to that percentage of the total Acquisition Price, as adjusted, represented by the total of all Base Payments made, including the prepayment on such date. Subject to the provisions of Section 4.7 and Article VIII hereof, the County City shall have the exclusive right to occupy and use the Real Property and the Project Facilities until this Facilities Agreement is terminated. In addition to the Lease Agreement, the County The City may permit other civic or charitable organizations or agencies or instrumentalities of the State or any other political subdivision thereof to use portions of the Real Property and the Project Facilities subject to the following limitationlimitations: (i) the Project Facilities or Real Property or Project Facilities shall not be used in any manner that interferes with the use of such property by the County City for the purposes for which it was designed or is then being used; (ii) any such agreement shall expressly terminate upon the occurrence of an Event of Default or an Event of Nonappropriation hereunder; and (iiiii) except in the case of single event uses, the County City shall have received an opinion from Bond Counsel stating that the proposed use will not adversely affect the federal Federal income tax treatment of interest on the Series 2020 Bonds2018 Bond. The County City shall monitor all such use to ensure continued compliance with the provisions of the Tax Regulatory Agreement and Section 5.3 hereof.

Acquisition and Use of Project Facilities; Term. The Corporation hereby agrees to sell the Project Facilities on an installment basis to the County in accordance with the provisions hereof. As of the date hereof, title to the Project Facilities is is, or will be upon the acquisition or construction thereof, in the name of the Corporation. Upon each payment of Base Payments from funds other than (i) amounts constituting Bond Proceeds (including any amounts deposited from the sale of Series 2020 2013 Bonds as provided in Section 5.1 of the Trust Agreement and income from the investment of such amounts)) or (ii) payments made from the Reserve Account, title to an undivided interest in the Project Facilities equal to that percentage of the Acquisition Price represented by such payment will transfer from the Corporation to the County without further action by either party hereto. In conjunction therewith, the Corporation hereby conveys and grants to the County an undivided interest in the Project Facilities which undivided interest shall increase pro rata based on the percentage of the Acquisition Price represented by each Base Payment. At the request of the County, the Corporation agrees to execute such quitclaim or special warranty deed(s) to the County indicating the undivided interest so acquired by the County. Any prepayment of Base Payments will result in a recalculation of the Acquisition Price to take into account of such prepayment and, upon the making of such prepayment, the County shall be credited with an undivided interest in the Project Facilities equal to that percentage of the total Acquisition Price, as adjusted, represented by the total of all Base Payments made, including the prepayment on such date. Subject to the provisions of Section 4.7 and Article VIII hereof, the County shall have the exclusive right to occupy and use the Project Facilities Real Property and the Project Facilities until this Facilities Agreement is terminated. In addition to the Lease Agreement, the The County may permit other civic or charitable organizations or agencies or instrumentalities of the State or any other political subdivision thereof to use portions of the Project Facilities Real Property and the Project Facilities subject to the following limitationlimitations: (i) the Real Property or Project Facilities shall not no agreement may be used for a term in any manner that interferes with the use excess of such property by the County for the purposes for which it was designed or is then being used; and (ii) except in the case of single event uses, the County shall have received an opinion from Bond Counsel stating that the proposed use will not adversely affect the federal income tax treatment of interest on the Series 2020 Bonds. The County shall monitor all such use to ensure continued compliance with the provisions of the Tax Regulatory Agreement and Section 5.3 hereof.one year;