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issuance by FDFC of its Revenue Bonds (the "Bonds") pursuant to this Interlocal Agreement, the <br /> proceeds of which will be loaned to Allied Fiber, LLC and/or one or more of its affiliates, <br /> subsidiaries or related entities, including without limitation, Allied Fiber-Florida, LLC, for the <br /> purpose of financing or refinancing the acquisition, construction, equipping and development <br /> activities associated with laying and installing fiber optic cable along the east coast of Florida. <br /> Section 2. Costs and Indebtedness <br /> The FDFC will be solely responsible for all indebtedness, liabilities, costs or expenses of the <br /> FDFC as permitted pursuant to the Act. The County will not be responsible for any indebtedness, <br /> liabilities, costs or expenses of the FDFC. All recording fees relating to the recording of this <br /> Agreement shall be the exclusive responsibility of FDFC. <br /> Bonds,notes or other indebtedness issued by FDFC: <br /> a. will not constitute and will not be construed as a debt, liability, or obligation of <br /> the County, the State or any subdivision thereof; <br /> b. will not constitute and will not be construed as a pledge of the faith and credit or <br /> any taxing power of the County or the State or any subdivision thereof-, and <br /> C. will be limited obligations of the FDFC payable solely from and secured by a <br /> pledge of payments made by the FDFC and other funds provided therefore; <br /> d. will not reference in any context, except for geographic purposes, the political <br /> •- subdivision of the State known as Indian River County on or within said bond, <br /> note or other form of indebtedness. <br /> Section 3. Notification to County <br /> The FDFC shall notify the County Administrator and the County Economic Development <br /> Council within twenty (20) days of receipt of an application for financing pursuant to the Act for <br /> projects located in the County. <br /> Section 4. FDFC Operations <br /> The FDFC will be responsible for administering its own affairs pursuant to the Act and <br /> this Agreement and will not be required to obtain any further approval, consent or authorization <br /> from the County, except as the Act or any other provision of applicable law or this Agreement <br /> may provide. <br /> Section 5. Effective Date of Agreement <br /> This Agreement is effective upon being filed with the Clerk of the Circuit Court of <br /> Indian River County, as required by law. <br /> 2 <br /> 48145009-5638.3 <br /> 39753/0042 WA <br /> 229 <br />