This is a Prior instruments and Obligations form, in addition to being made subject to all conveyances, reservations, and exceptions or other instruments of record, this assignment is made and assignee accepts this assignment subject to all terms, provisions, covenants, conditions, obligations, and agreements, including but not limited to the plugging responsibility for any well, surface restoration, or preferential purchase rights, contained in any contracts existing as of the effective date of this assignment and affecting the assigned property, whether or not recorded.
Virgin Islands Prior instruments and obligations refer to legal agreements and financial commitments made by the government or entities representing the US Virgin Islands before a specified date. These instruments and obligations are typically categorized into different types, including: 1. General Obligation Bonds: These are bonds issued by the government of the US Virgin Islands backed by the full faith and credit of the government and its taxing power. General Obligation Bonds are typically used to finance various public projects, such as infrastructure development, schools, or healthcare facilities. 2. Revenue Bonds: Revenue Bonds are issued to fund specific projects or enterprises, such as public utilities, airports, or seaports. The revenue generated by the project or enterprise, rather than the full faith and credit of the government, secures these bonds. They are repaid through the revenue generated by the facility or project. 3. Pension Obligation Bonds: Pension Obligation Bonds are issued to fund pension obligations of the government or public employees' pension plans. These bonds are used to raise money upfront to pay for pension liabilities and are repaid with interest over a specific period. 4. Lease Rental Bonds: Lease Rental Bonds are issued to finance capital projects involving real estate or equipment leasing. Under these arrangements, the US Virgin Islands government leases facilities or equipment from a private entity and makes lease payments over a specified period. The bond proceeds are used to finance these lease payments. These instruments and obligations serve as means for the US Virgin Islands government to secure funding for various public projects, services, and financial obligations. They are typically issued in the form of bonds, which are subsequently bought by investors who receive periodic interest payments until the bonds reach their maturity date. It is important to note that the specific terms, conditions, and regulations surrounding Virgin Islands Prior instruments and obligations may vary based on individual financial arrangements and the governing laws of the US Virgin Islands.Virgin Islands Prior instruments and obligations refer to legal agreements and financial commitments made by the government or entities representing the US Virgin Islands before a specified date. These instruments and obligations are typically categorized into different types, including: 1. General Obligation Bonds: These are bonds issued by the government of the US Virgin Islands backed by the full faith and credit of the government and its taxing power. General Obligation Bonds are typically used to finance various public projects, such as infrastructure development, schools, or healthcare facilities. 2. Revenue Bonds: Revenue Bonds are issued to fund specific projects or enterprises, such as public utilities, airports, or seaports. The revenue generated by the project or enterprise, rather than the full faith and credit of the government, secures these bonds. They are repaid through the revenue generated by the facility or project. 3. Pension Obligation Bonds: Pension Obligation Bonds are issued to fund pension obligations of the government or public employees' pension plans. These bonds are used to raise money upfront to pay for pension liabilities and are repaid with interest over a specific period. 4. Lease Rental Bonds: Lease Rental Bonds are issued to finance capital projects involving real estate or equipment leasing. Under these arrangements, the US Virgin Islands government leases facilities or equipment from a private entity and makes lease payments over a specified period. The bond proceeds are used to finance these lease payments. These instruments and obligations serve as means for the US Virgin Islands government to secure funding for various public projects, services, and financial obligations. They are typically issued in the form of bonds, which are subsequently bought by investors who receive periodic interest payments until the bonds reach their maturity date. It is important to note that the specific terms, conditions, and regulations surrounding Virgin Islands Prior instruments and obligations may vary based on individual financial arrangements and the governing laws of the US Virgin Islands.
