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Item 10
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Vol. 1- City of Santa Ana Financing Authority (Police Admin. and Holding Facility)
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Item 10
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So long as 95% or more of the proceeds of the 1994 Bonds deposited in the Acquisition Fund have <br /> been spent with respect to the Project, upon delivery of a Certificate of Completion and the issuance by the City <br /> of a certificate of occupancy with respect to the Project, all real property and improvements, other than Parcel <br /> A and the Project, shall be released from the leasehold hereunder and all right, title and interest in and to such <br /> Leased Property shall vest in the City. <br /> Quiet Enjoyment. The City and the Authority mutually covenant that the City, so long as it observes <br /> the agreements, conditions, covenants and terms required to be observed or performed by it contained in the <br /> Lease and is not in default under the Lease, will at all times during the term of the Lease peaceably and quietly <br /> have, hold and enjoy the Leased Property without suit, trouble or hindrance from the Authority. <br /> Assignment by Authority. The City and the Authority understand that certain of the rights of the <br /> Authority, as assignee under the Lease, will be assigned to the Trustee pursuant to the Indenture, and <br /> accordingly the City agrees to make all payments due under the Lease to the Trustee, notwithstanding any <br /> claim, defense, setoff or counterclaim whatsoever (whether arising from a breach hereof or otherwise) that the <br /> City may from time to time have against the Authority or the Trustee. The City agrees to execute all <br /> documents, including notices of assignment and chattel mortgages or financing statements which may be <br /> reasonably requested by the Authority or the Trustee to protect their interests in the Leased Property during the <br /> term of the Lease. <br /> Assignment by City. The Lease and the interest of the City in the Leased Property may not be <br /> assigned or encumbered by the City except as provided in the Lease. <br /> Title to Property. During the term of the Lease, the Authority shall have a leasehold interest in the <br /> Leased Property, and any and all additions which comprise fixtures, repairs, replacements or modifications <br /> thereof, except for those fixtures, repairs, replacements or modifications which are added thereto by the City <br /> and which may be removed without damaging the Leased Property. Upon the termination or expiration of the <br /> Lease (other than as provided in the Lease), all right, title and interest in and to the Leased Property will vest in <br /> the City. Upon any such termination or expiration, the Authority will execute such conveyances, deeds and <br /> other documents as may be necessary to effect such vesting of record. <br /> Acquisition of Additional Property. The City covenants to use its best efforts to acquire such <br /> additional real property as may be necessary as appropriate for the acquisition, instruction and equipping or <br /> operation of the Project, and, by executing appropriate amendments, to lease such property to the Authority <br /> pursuant to the ground Lease and to sublease such property from the Authority pursuant to the Lease. <br /> A-25 <br />
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