Pledge of Developer Project Cost Account. In consideration of this Agreement and other valuable consideration and for the purpose of securing payment of the amounts provided for hereunder to the Developer by the Town, according to the terms and conditions contained herein, and in order to secure the performance and observance of all of the Town's covenants and agreements contained herein, the Town does hereby grant a security interest in and pledge to the Developer the Developer Project Cost Account and all sums of money and other securities and investments therein.
Appears in 3 contracts
Sources: Credit Enhancement Agreement, Credit Enhancement Agreement, Credit Enhancement Agreement