Wed 11/09/2022 17:07 PM
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American Dream Mall PILOT bond trustee U.S. Bank, with the consent of a majority of PILOT bondholders, has amended the PILOT bond trust indenture to establish a special litigation fund and clarify that late payments by the developer will replenish reserves instead of paying down principal, according to a notice posted to EMMA on Tuesday, Nov. 8. The amendment is dated Oct. 31, the notice says.

The amendment changes the provisions of the “reserve account” that, under...
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