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40 <br />information provided by or on behalf of the Borrower, as to the <br />financial condition of the Borrower, the nature of its business <br />and the industry in which it is involved, its inherent <br />stability, the security structure for the Bonds (including the <br />Letter of Credit to be issued by the Bank and the guaranty by <br />NHC and McCarver pursuant to the Guaranty Agreement of the <br />Borrower's obligation to reimburse the Bank) and all other <br />factors determinative of the Borrower's capabilities, financial <br />and otherwise, of fulfilling its obligations consistently with <br />the purposes of the Act, the Issuer believes the Borrower to be <br />(i) financially responsible and fully capable and willing to <br />fulfill its obligations under the Loan Agreement, including the <br />obligation to make payments thereunder in the amounts and at <br />the times required pursuant to the terms of the Loan Agreement <br />and the obligation to repair and maintain the Project, and (ii) <br />desirous of serving the purposes of the Act and willing and <br />capable of fully performing all other obligations and <br />responsibilities imposed upon the Borrower pursuant to the <br />provisions of the Loan Agreement. <br />E. The appropriate local agencies in Indian River <br />County are able to cope satisfactorily with the impact of the <br />Project, and all public facilities, utilities and services that <br />will be necessary for the operation, repair and maintenance of <br />the Project and on account of any increase in population or <br />other circumstances resulting by reason of the location of the <br />Project within the area of operation of the Issuer are <br />available now or can be provided when needed. <br />F. Adequate provision is made under the provisions <br />of the Loan Agreement for the repair and maintenance of the <br />Project at the expense of the Borrower, and for the payment of <br />the principal of and premium, if any, and interest on the <br />Bonds. <br />G. The principal of and premium, if any, and <br />interest on the Bonds and all payments required under the Loan <br />Agreement and the Indenture shall be payable solely from the <br />proceeds derived by or on behalf of the Issuer under the Loan <br />Agreement or the Credit Facility. The Issuer shall never be <br />required to (i) levy ad valorem taxes on any property within <br />its territorial limits to pay the principal or purchase price <br />of and premium, if any, and interest on the Bonds or to make <br />any other payments provided for under the Loan Agreement and <br />the Indenture, or (ii) pay the same from any funds of the <br />Issuer other than those derived by or on behalf of the Issuer <br />under the Loan Agreement or the Credit Facility; and such Bonds <br />shall not constitute a lien upon any property owned by or <br />situated within the territorial limits of the Issuer except the <br />Project in the manner provided in the Mortgage. The Issuer has <br />no taxing authority. <br />-4- <br />