HomeMy WebLinkAbout01772any subsequent lease of the Leased System or any permitted modi-
fication thereof required to be kepi and performed by the lessee;
that in the event any lessee under the Lease or any modification
thereof or any subsequent lease or any modification thereof of
the Leased System shall fail to perform any of the terms, conditions
and covenants of such lease, within thirty days of such default
it will notify the Trustee in writing of the date and nature of
such default.
(c) In the event the Lease is terminated and the city
resumes possession and control of the Leased System, or if Crown
Zellerbach Corporation defaults in any of its semiannual_ rental
payments, the city will use its best efforts to again lease the
Leased System at such rentals that will be sufficient to pay the
principal of and interest on the Bonds out-atsnc ng as the same
shall become due or to sell the Leased System at a price that
will provide sufficient money to redeem all of the Bonds outstanding
at the times and prices as provided for herein, or will operate
such Leased System in such a manner that: will provide .ufticient
money to pay "he principal of and interest on the Bonds outstanding
as the same shall become due.
(d) That it will not sell the Leased System unless pro-
vision is made for payment Into the 1956 Bond Redemption Fund of a
sum sufficient to pay the principal of and interest on all the
Bonds outstanding in accordance with the terms thereof.
(e) That it will duly and punct:aally pay or cause to be
paid to the several holders of the Bonds the principal thereof
and the interest thereon as the same small become due and payable.
(f) No new lease or modification of the Lease or a future
lease may be made without the written consent of the Trustee or any
ouccessor trustee first had and obtained.
Section 15. The city hereby irrevocably appoints the
21.