1983-102 - Laserfiche WebLink

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LO;\,~ AGREEMENT, MORTGAGE AND SECURITY AGREEMENT r ~IIS LOAN AGREEMENT, MORTGAGE AND SECURITY AGREEMENT lated -,----.,...,..---T-' 1983, is between INDIAN RIVER COUNTY, FLORIJA, ~ pol1t1cal subdivision of the State of Florida (the "Issuer"), and FLORIDA HEALTH FACILITIES CORP. (OF INDIAN RIVER COUNTY), -.l corporation organized and existing under the laws of tile 3Llt.e of Florie.la ( the "Borrower"·. BACKGROUND FACTS: 1. The Issuer is authorized under Chapter 159, Part II, f loricla -5t::itutes, and other applicable provisionn of law, to make and ~xecute financing agreements, contracts, deeds and other instrum~nts necessary or convenient for the purpose of facili- tati.n3 ~he financing of certain projects, including machinery, equi?mBnt, land, rights in land and other appurtenances and faci- lities related thereto, to the end that the Issuer may be able to promot-.? the ,~conomic development of the State of Florida, increase opportunities for gainful employment and otherwise aid in improvi~3 the prosperity and welfare of the State and its inhabita nts; and to provide such financing through the issuance of industrial development revenue bonds. 2. The Issuer has duly authorized the financing of the acquisition, construction and equipment of industrial facilities consisting of a 120-bed nursing home, including any necessary utilities, all within the jurisdictional territorial limits of the Issuer (the "Project" as hereinafter defined), to be ac~uire<l, constructed and equipped by and at the expense of the Uorrowar on the terms and conditions hereinafter set forth: and the Issuer has further authorizeJ the issuance and sale of not exceeuing ~2,400,000 aggregate principal amount of its Industrial Development Revenue Bond s, Series 1983 (Plorida Health li'acilit.ies Project), the "Bonds" as h e reinafter defined, the proceeds of the salo::! o f .,..hich will be loaned to the Borrower to pay the costs of acquiring, constructing anJ equipping the Project. J. The Bonds are issued under and securetl by a Tru5t Indenture, Jated as of the date hereof (the "Indenture'' as here- inafter defined), by am1 between the Issuer and Barnett Banks Trust Campany, ~.A., Jacksonville, Plorida, as Trustee {the "Trustee" as hereinafter defined), whereby the Issuer and the Trustee have agreed that the Trustee shall receive the proceeds f ram the sale of the Bonds anu disburse the same for the cost of the ac~uisition, construction and equipment of the Project. -1-