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Securit Re uir�nents: <br />will consist of revenue bonds secured by a pledge of revenue from <br />S.curity other revenue required to support the loan <br />the facility being financed plus any <br />-r and sewer facility revenues. <br />including: First lien on wate <br />Title to Pro ert : <br />The Association will provide evidence of title satisfactory to the FHA for all <br />assets which will constitute security for the loan. <br />i <br />i <br />i <br />Organization: ; <br />the organized <br />The loan docket will include evidence that <br />Charter socir oraotheriactsgl <br />of enabling z <br />under state statutes such as a copy inion that the applicant has operation and maia- <br />legislation. The attorney is to provide as op <br />authority to carry the planned method of construction, <br />out { <br />,connection with the planned facility. <br />tenance and repayment in ti <br />Business Operations: <br />e that the Association <br />soon as the <br />The•bond ordinance will requirrodin the Stat establofhF as orida which is a <br />system becomes revenue <br />producing a depositary receive <br />member of the FDIC and which feretheterm ofigible ethehloan a special e laws of ifund da Qknown as <br />municipal funds and main y sewer system revenue fund." These <br />"Bd of o. Comm. Indianwater and <br />funds are to be kept separate from all other funds of the approved by thedFarme swill e <br />expended and used only as stipulated in a bond ordinance app of one - <br />Rome Administration. aA enteuntilcthisresrve taccwill bountereaches lthe amount ofated at tnone annual <br />tenth of the annual p ym <br />payment. e with the ' <br />The Association will adopt ani <br />ordnance <br />A outlining accordant.opetion procedures for Exhibit <br />fohe <br />(6) of Florida Instruction <br />facility - <br />Th <br />The Association will furnish an outline of the management proce <br />sdures for the <br />of the perso <br />facility to include the name n(s) who will operate the facility <br />with a brief agreement between the person(s) and the Association showing <br />along It <br />services to be performed and wages to be paid. <br />Insurance and Bonding: <br />Property insurance, fire and extended coverage will be required on all above- <br />ground structures including equipment and machinery in an amount equal to the <br />zineer and aDproved by <br />replacement value as ecM <br />ended No insurance the project a ance will be required on water resehrvoirs, <br />Farmers Home Administration. <br />standpipes and elevated tanks. <br />i <br />,-MAY 2 3 X973 <br />�Q� 7 94 <br />