Laserfiche WebLink
1 <br /> <br /> $ <br /> <br /> 4 <br /> <br />7 <br />8 <br />9 <br />10 <br />ll <br />12 <br />1;3 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br /> <br /> 24 <br /> <br /> 26 <br /> ~-7 <br /> 28 <br /> 29 <br /> 50 <br /> <br />Trustee thereunder. <br /> <br /> SECTION ll. EMINENT DOMAIN. <br /> <br /> (a) If the whole of the Leased Premises, or so much <br />thereof as to render the remainder unusable for the purposes for <br />which the same was constructed, shall be taken under the power of <br />eminent domain, then this State Building Lease shall terminate as <br />of the day possession shall be so taken. If less than the whole <br />of the Leased Premises shall be taken under the power of eminent <br />domain, and the remainder is usable for the Project purposes, <br />then this State Building Lease shall continue in full force and <br />effect and shall not be terminated by virtue of such taking and <br />the parties waive the benefit of any law to the contrary, in which <br />event there shall be a partial abatement of the rent hereunder in <br />an amount equivalent to the amount by which the annual payments of <br />principal of, and inSerest on, the outstanding Bonds of the <br />Authority will be reduced by the application of the award in <br />eminent domain to the call of outstanding Bonds as in subsection <br />(b) of this section provided. <br /> <br /> (b) Any award made in eminent domain proceedings for <br />the taking or damaging of the Leased Premises in whole or in part <br />shall be paid to the Trustee for the direct benefit of the holders <br />of the Bonds and shall be used by the Trustee (together with any <br />other money which shall be or may be made available for such <br />purpose), to call, as nearly as may be, a principal amount of Bonds <br />in each of the remaining maturities so that as nearly as possible <br />in the discretion of the Trustee equal annual payments of principa~ <br />and interest on the outstanding Bonds remaining will be maintained <br />after said call. In the event the amount so paid to the Trustee <br />shall be more than sufficient to retire the Bonds issued under <br /> <br /> <br />