1983-022 - Laserfiche WebLink

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66� " Florida Health Facilities Corp. (of Indian River County) March 16, 1983 Page 2 hereby makes the following proposal: 1. The Issuer will. issue its industrial development revenge bonds in an aggregate principal amount not to exceed $3,500,000 for the purpose of paying the cost of the acquisition, construction and equipment of rhe Project, pursuant to preliminary general plans and specifications relpting to such facilities which are on file in the office of the Clerk of the Governing Body. The bonds will be issued in such aggregate principal amount, mature at such times, bear interest at such rates and be subject to such other terms as shall be agreed upon among you and the Issuer and the bondholders. 2. You and the Issuer will enter into a Loan Agreement, Mortgage and Security Agreement (the "Agreement") which shall pro- vide for a loan of bond proceeds by the Issuer to you for the purpose of the acquisition, construction and equipment of the Project, and you will execute and deliver a promissory note (the "Note") evidencing the loan. The Agreement shall he assigned either to a bank trustee for the benefit and protection of the bondholders, or to the bondholders. The installment payments to be made by you pursuant to the Agreement and Note shall be pledged to the payment of the principal of, interest on and redemption premium, if any, applicable to the bonds and the fees and expenses of: the trustee, if any. The aggregate principal amount of the bonds shall. only be fully sufficient to pay the cost of the Project, the cost and expenses of financing the same and the expenses of you, the trustee, if any, and the Issuer related thereto. 3. The Issuer will cooperate in the preparation of the Agreement, the Note, the trust indenture, if any, and the neces- sary resolutions for the authorization and sale of the bonds. 4. Upon delivery of the bonds, the provisions of this proposal and the agreement resulting from its acceptance by you shall have no further effect, and in the event of any inconsis- tency between the terms of this proposal and the terms of the Agreement and the Note in the form in which they shall be finally approved by resolution of the Governing Body, the provisions of. the Agreement and Note as so approved shall control. 5. Upon acceptance by you of this proposal, the Issuer shall keep open and outstanding this commitment and inducement to you for a reasonable time so long as you shall be proceeding with appropriate efforts toward conclusion of any arrangements neces- sary to the Project, and (after finding the Borrower financially