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20140025434 Page 2 of 4 <br />BK: 2718 PG: 796 <br />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 S. 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 />u14 -MM 3u <br />3vnwax RW <br />A TRUE COPY <br />CERTIFICATION ON LAST PAGE <br />.i.R. SMITH, CLERK <br />