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will carry adequate public liability insurance, and will otherwise carry <br />insurance of all kinds and in the amounts normally carried in the operation of <br />similar facilities and properties in Florida. Any such insurance shall be <br />carried for the benefit of the Registered Owners of the Bonds. All moneys <br />received from losses under any of such insurance, except public liability, are <br />hereby pledged by the County as security for the Bonds, until and unless such <br />proceeds are used to remedy the loss or damage for which such proceeds are <br />received, in which event the repairing of the property damaged or the replacement <br />of the property destroyed shall be commenced within a reasonable time after the <br />receipt of such proceeds and shall proceed on a reasonable and continuous basis. <br />J. NO FREE SERVICE. The County will not render or cause to be rendered <br />any free use of any nature of the System, nor will any preferential rates be <br />established for users of the same class. <br />K. ENFORCEMENT OF COLLECTIONS. The County will diligently enforce and <br />collect the Revenues and any other receipts and revenues pledged hereunder, will <br />take all steps, actions and proceedings for the enforcement and collection <br />thereof as the same shall become delinquent to the full extent permitted or <br />authorized by law, and will maintain accurate records with respect thereto. All <br />such Revenues and other charges shall, as collected, be held in trust to be <br />applied as herein provided and not otherwise. <br />L. REMEDIES. Any Registered Owner may by suit, action, mandamus or other <br />proceedings in any court of competent jurisdiction, protect and enforce any and <br />all rights, including the right to the appointment of a receiver, existing under <br />the laws of the State of Florida, and may enforce and compel the performance of <br />all duties required hereunder or by any applicable statutes to be performed by <br />the County or by any officer thereof. <br />Nothing herein, however, shall be construed to grant to any Registered <br />Owner any lien on any property of or in the County. <br />M. OPERATING BUDGET. On or before the last day of each Fiscal Year, the <br />County shall adopt an annual budget for the System for the ensuing Fiscal Year, <br />which shall include a budget for Operating Expenses. The Operating Expenses <br />incurred in any Fiscal Year will not exceed the reasonable and necessary amounts <br />required therefor and the County will not expend any amount or incur any <br />obligation for the operation, maintenance and repair of the System in excess of <br />the amount provided for the purpose in the annual budget for the then current <br />Fiscal Year except upon resolution of the Board declaring that such expenses are <br />necessary for the operation and maintenance of the System. <br />If the budget discloses that the estimated Revenues and other revenues, <br />funds and receipts pledged hereunder, if any, will be insufficient during such <br />Fiscal Year, after payment of the Operating Expenses, to meet the rate covenant <br />set forth herein, the County shall forthwith revise the rates, fees and charges <br />imposed with respect to the System in order to cure such estimated deficiency and <br />to comply with the rate covenant. There shall be included in the budget amounts <br />necessary to provide for the orderly replacement of the depreciable capital <br />assets of the System. <br />N. CONSULTING ENGINEERS. The County will annually retain the Consulting <br />Engineers for the purpose of providing the County with competent engineering <br />counsel with respect to the economical and efficient operation of the entire <br />water and sewer system of the County and in connection with the making of capital <br />24 <br />