Agenda - Council - 08/13/2013 - Laserfiche WebLink

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appropriately amended to include such site within the lien hereof; provided, that unnecessary or obsolete personal property may be removed without replacement and other personal property may be removed so long as the Company replaces such personal property with other personal property of substantially similar value or utility. Section 4.2. Grant of Easements, Liens, Etc. The Company may at any time or times grant to itself or others easements, licenses, rights of way and other rights or privileges in the nature of easements with respect to the Mortgaged Property, free from the lien of this Mortgage, or the Company may release existing easements, licenses, rights of way and other rights or privileges with or without consideration, and the Trustee will execute and deliver any instrument necessary or appropriate to confirm and grant or release any such easement, license, right of way or privilege; provided, however, that prior to any such grant or release, the Company shall provide to the Trustee a certificate from the Company to the effect that such grant or release does not adversely and materially affect the value or the operation of the Mortgaged Property or the security of the Trustee. Section 4.3. Addition of Improvements to Lien of Mortgage. All buildings, structures or improvements which may be acquired or constructed by the Company subsequent to the date hereof and which are located on the real estate described in Exhibit A hereto, all property of every kind or nature added to or installed in building, structure or improvement located on said land, and all equipment located on said land, acquired by the Company after the date hereof, shall, immediately upon the acquisition thereof by the Company, and without any further conveyance or assignment, become subject to the mortgage, lien and security interest of this Mortgage. Nevertheless, the Company, will do, execute, acknowledge and deliver all and every such further actions, conveyances and assurances as the Trustee shall require for accomplishing the purpose of this Section. Section 4.4. Release. Upon payment in full of the Bonds (so that such Bonds are no longer Outstanding under the Indenture) and all other obligations secured by this Mortgage, this Mortgage shall be released of record, and the Trustee agrees to execute a release of this Mortgage. Section 4.5. Partial Release. The Company shall have the right, in its sole discretion and at any time, to subdivide the Mortgaged Property into two or more separate parcels of land in accordance with any subdivision law in effect at the time the Company elects to subdivide, provided, (i) upon completion of the subdivision the Mortgaged Property shall be on a separate parcel that may legally be conveyed as a separate parcel (the "Mortgaged Property Parcel"), independent of the other resulting parcels. In the event the Company elects to subdivide, the Trustee shall, without expense to Trustee, (i) cooperate with that subdivision by executing any plat or consent to plat or other instrument required in connection with the subdivision process and (ii) upon completion of the subdivision process, the Trustee shall release of record all of the Mortgaged Property except the Mortgaged Property Parcel. 12 5601362v2