Common use of Final Payment and Release Clause in Contracts

Final Payment and Release. Upon notice from the Financing Party that the Benefit Assessment has been satisfied and paid in full, together with all Eligible Costs and Financing Charges provided under the Finance Agreement, EIC, on behalf of the Participating Municipality, will execute a Satisfaction and Release of Benefit Assessment Lien (the “Release”) substantially in the form attached hereto as Exhibit D, and record the Release on the land records for the Participating Municipality. There shall be no charge, mortgage recording tax or other fee for recording the Release on the land records for the Participating Municipality in the same manner as if recorded by the Participating Municipality.

Final Payment and Release. Upon notice from the Financing Party that the Benefit Assessment has been satisfied and paid in full, together with all Eligible Costs and Financing Charges provided under the Finance Agreement, EIC, on behalf of the Participating Municipality, will execute a Satisfaction and Release release of the Benefit Assessment Lien (the “Release”) substantially in the form attached hereto as Exhibit D, and record the such Release on the land records for the Participating Municipality. There shall be no charge, mortgage recording tax or other fee for recording the Release of the Benefit Assessment Lien on the land records for the Participating Municipality in the same manner as if recorded by the Participating Municipality.