1981-142 CRA - Laserfiche WebLink

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. , . . I . . . : Thi s Note and the interest and .other charges hereon are payable from, and are secured by a charge and lien .on, certain Revenues and c.ollateral as contemplated by the Resolution. This Note is a special obligation of the Agency and is not a lien or charge against the property or funds of the Agency, except to the extent contemplated by the Resolution. This Note is not a debt of the City of Santa Ana, the State .of California, or any of its political subdivisions and neither sa.id City, said State, n.or any of its political subdivisions is liable hereon nor in any event shall this Note be payable out .of any funds or properties .other than the Revenues and collateral therefor, as contemplated by the Resolution. The faith and credit of the Agency is not pledged to the payment of the principal of or interest on this Note. This Note does not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction. If an Event of Default (as defined in the Resolution) shall occur, all or part of the principal amount of this Note may be declared due and payable upon the conditions, in the manner and with the effect provided in the Reso lut i on but such dec 1 arati on and its consequences may be resc i nded and annuled by the holder hereof as further provided in the Resolution. Th is Note may be transferred by the ho 1 der hereof by endors i ng hereon (or on a paper attached hereto) the amount of principal paid hereon as of the date of transfer. Notification of such transfer shall be promptly given to the Agency for entry on the Note register maintained by the Agency pursuant to the Resolution, of the name and address of the transferee. The Agency may treat the registered owner hereof as the absolute owner hereof f.or- all purposes. Any holder of this Note subsequent t.o its original purchaser is hereby placed on notice of all payments of b.oth principal and of interest on this Note prior to its transfer to such holder and all such subsequent h.olders hereby acknowledge that they have ascertained the actual unpaid principal balance of this Note as of the date of transfer of this Note to them and hereby release the Agency from all obligati.on as to all principal and interest paid by the Agency prior to such date. It is hereby certified that all of the things, conditions and acts required to exist, to have happened and to have been performed precedent to and in connection with the issuance of this Note do exist, have happened and have been performed in due time, form ard manner, and that the amount .of this Note, together with all other indebtedness of the Agency, does not exceed any limit prescribed by any laws of the State of California, and is not in excess of the amount of the Note permitted to be issued under the Resolution.