Right of Trustee to Pay Taxes and Other Charges. Reference is made to Section 4.1(c) of the Facilities Agreement whereby the Corporation is authorized to advance moneys (i) to pay taxes, assessments and other governmental charges with respect to the Real Property and the Project Facilities, (ii) for the discharge of mechanic’s and other liens relating to the Real Property and the Project Facilities, (iii) to obtain and maintain insurance for the Real Property and the Project Facilities and pay premiums therefor, and (iv) generally, to make payments and incur expenses in the event that the County fails to do so as required by such Facilities Agreement. The Trustee may make those advances but shall not be required to do so (and may require indemnification) pursuant to Sections 6.1(e) (iv) and 6.2(j) hereof, but without prejudice to any rights of the Trustee as assignee of the Corporation against the County for failure of the County to do so.
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Samples: Trust Agreement, Trust Agreement, Trust Agreement
