HomeMy WebLinkAbout0273_0088to received ant hold by the Tr astoe and shall to turns&
over by it to the City at any time Vsreafter,, upon pro-
sentationn to the THUSTES of a certificate signed by its
Mayor and City Treasurer,, showing the expenditure ty the City
of an equal amount in rebuilding or renee+al of the property
destroyed# or for additions or improvements to the mortbaged
property#
SYCTIL N be That it will at all time maintain, pre-
serve and 'beep the mortgaged property, arrd every part thereof,,
with the appartenanees azd every part and parcel thereof, in
thorough repair, working order and condition, and from time to
time sake all needful and proper repairs,, so that at all time
the value of the security for the bonds issue& hereunder and the
effeaiency of the plant and property hereby mortgaged shall be
fully preserved and. maintainet*
17MON dt That if it shall fail to perfbra arW of
the oovenants sontainek in Sections S, 4, and b,, of Article It.
the TRWIM may make advaxmes to perform the same in its be'halfe,
but shall not be required so to dot and all sums so advanced shall
be at ones repuyable 'by the Citye and shall bear interest at din
rer Centum (6'0) per anmm until paldv and shall be secured hereby,,
having the benefit tf the lien hereby created in priority to the
indebtednoss evisi once& by said bonds,, but no such a&vaxme shall
be teemed to relieve the City from any default hereunder. '
Te That a Spe pial YWA,, WhIOh is hereby
created and d.asi,"tt& as "SFMM ELECTRIC II RT RMT,= BOND
FUS * shall be sot aside out of the net operating revenues of
the said light plant and paver system, and %hlah Special i'vid
shall to used for the payment of principal and interest of said
bonds; at zaturfty,, and TRUSTEE'S e*Wsnsation, is event of forest
collection, as not forth in said IMENTMM., and. for Ao otbor
purpose t and that to *rest* said Spe offal Fund a sufficient amount
of all income and revensss of said elaotrie light plant and. pover
8y