1. MIDA Bond-Bethany on 42nd - Laserfiche WebLink

ARTICLE III SECURITY FOR PAYMENT OF BONDS AND PERFORMANCE OF INDENTURE SECTION 3.1. SECURITY. The Bonds and the interest thereon are not a general obligation of the Issuer within the meaning of any constitutional or statutory limitation and shall never constitute nor give rise to a charge against the general credit or taxing powers ofthe Issuer, but shall be a limited obligation of the Issuer secured by and payable only from the Mortgaged Property, including the following: (a) all moneys in the Funds established by Article V hereof; (b) all of the Issuer's rights and interest in, to and under the Loan Agreement, which have been assigned to the Trustee; (c) the Mortgage and Assignment; (d) this Indenture; and (e) all of the proceeds of the foregoing, particularly investment income. The foregoing are collectively the "Security," and in consideration ofthe purchase ofthe Bonds and the obligations of the Trustee under this Indenture and to secure payment of the principal of, premium, if any, and interest on the Bonds and this Indenture, the Issuer hereby conveys, pledges, assigns and grants a security interest in the Security to the Trustee, and its successors and assigns. SECTION 3.2. DISCHARGE OF LIEN. If the Issuer shall payor provide for the payment of the entire indebtedness on all Bonds in anyone or more of the following ways: (a) by paying or causing to be paid the principal of, premium, if any, and interest on all Bonds, as and when the same become due and payable; (b) by depositing with the Trustee, in trust, at or before maturity, moneys in an amount sufficient to payor redeem (when redeemable) all Bonds (including the payment of premium, if any, and interest payable on such Bonds to the maturity or redemption date thereof), provided that such moneys, if invested, shall be invested in United States Government Obligations, the principal of, premium, if any, and interest on which when due will be sufficient to payor redeem ( when redeemable) and discharge the indebtedness on all Bonds at or before their maturity date or earlier redemption for which proper notice of call shall have been given; or (c) by delivering to the Trustee, for cancellation by it, all Bonds outstanding; 3-1