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1987-139
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1987-139
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9/2/2022 9:33:01 AM
Creation date
9/1/2022 9:39:10 AM
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Resolutions
Resolution Number
1987-139
Approved Date
11/24/1987
Resolution Type
INDUSTRIAL DEVELOPMENT REVENUE REFUNDING BONDS
Subject
financing the acquisition of a Health Care Facility by Fl. Convalescent Centers, Inc.,
consisting of an 91-bed Nursing Home providing for issuance by ORC
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Any request, direction, consent or vote of the owner of any Bond <br />shall bind all future owners of such Bond in respect of anything done or <br />suffered to be done or omitted to be done by the Issuer or the Trustee in <br />accordance therewith. <br />Section 11.03. Preservation and Inspection of Documents. All <br />documents received by the Trustee from the Issuer, the Borrower, the <br />Credit Facility Provider or any Bondholders under the provisions of this <br />Indenture, the Loan Agreement, the Mortgage or the Credit Facility shall <br />be retained in its possession and shall be subject at all reasonable times <br />to the inspection of the Issuer, the Borrower, the Credit Facility <br />Provider, any Bondholder and their agents and representatives, any of whom <br />may make copies thereof. <br />Section 11.04. Moneys and Funds Field for Particular Bonds. The <br />amounts held by the Trustee or the Registrar and Paying Agent for the <br />payment of the principal or Redemption Price of and interest on, and the <br />purchase price of, any Bond due on any date shall, pending such payment, <br />be set aside and held in trust by it for the Holder of such Bond, and for <br />the purposes of this Indenture such principal or Redemption Price of and <br />interest on, or such purchase price of, such Bond shall no longer be <br />considered to be unpaid. <br />Section 11.05. No Recourse on Bonds. No recourse shall be had for <br />the payment of the principal or Redemption Price of and interest on, or <br />the purchase price of, any Bond or for any claims based thereon or on <br />this Indenture against the members of the Board of County commissioners of <br />the Issuer any officer of the Issuer of any person executing the Bonds, <br />all such liability, if any, being expressly waived and released by every <br />Holder of each Bond by the acceptance of such Bond. <br />Section 11.06. Issuer Protected in Acting in Good Faith. In the <br />exercise of the powers of the Issuer and its Board of County <br />Commissioners, officers, employees and agents under this Indenture, the <br />Loan Agreement or the Mortgage, including (without limitation) the <br />application of moneys and the investment of funds, the Issuer shall not be <br />accountable to the Trustee, the Credit Facility Provider or any Bondholder <br />for any action taken or omitted by it or by the members of the Board of <br />County Commissionsers of the issuer or any of the Issuers officers, <br />employees and agents in good faith and believed by it or them to be <br />authorized or within the discretion or rights or powers conferred. The <br />Issuer and such members of its Board of County Commissioners or any of its <br />officers, employees or agents shall be protected in its or their acting <br />upon any paper or document reasonably believed in good faith by it or them <br />to be genuine, and it or they may conclusively rely upon the advice of <br />counsel as to matters of law and may (but need not) require further <br />evidence of any fact or matter before taking any action. No recourse <br />shall be had by the Trustee, the Credit Facility Provider or any <br />Bondholder for any claims based on this Indenture, the Loan Agreement or <br />63 - <br />
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