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1983-102
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1983-102
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Last modified
3/28/2023 3:08:25 PM
Creation date
3/28/2023 3:04:57 PM
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Resolutions
Resolution Number
1983-102
Approved Date
10/19/1983
Subject
Providing for the financing of the acquition construction & equipment of a
120 Bed Nursing Home Facility located on 37th Street, Providing for Industrial
Development Revenue Bonds (Florida Health Facilities Project)
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( e) The default by the Borrower for failure to make any <br />payment of the principal of, premium, if any, or interest on any <br />other obligation for money borrowed or received as an advance {or <br />any obligation under conditional sale or other titl& retention <br />agreement, any obligation under any lien or security interest <br />encumbering the Project or any part thereof, whether or not per- <br />mitted hereby, any oblig=ltion issued or assumed as full or par- <br />tial payment for property whether or not secured by purchase <br />money mort-:1aqe, or any obligation under notes payable or drafts <br />accepted representing extensions of credit) or in the performance <br />of any other condition contained in a ·_y agreement under which any <br />such obligation is created or by which it is evidenced, beyond <br />any period of grace provided with respect theretor provided, that <br />such default, in the opinion of the Trustee, will materially and <br />adversely affect the ability of the Borrower to perform its obli- <br />gations hereunder. <br />( f) Any representation or ·.-1arranty made by the Borrower <br />her~in or in any writing furnished in connection with or pursuant <br />to this Agreement shall be false in any material respect on the <br />date as of which made. <br />( g) 'l'he foregoing provisions of this Section 9. l are <br />subject to the following limitations: If by reason of acts of <br />God; strikes, lockouts or other industrial disturbances; acts of <br />public enemies; orders of <lny kind of the government of the <br />Unite<l States or of Lite State or any depart~ent, agency, politi- <br />cal subdivision or official of either of them, or any civil or <br />1nilitary authority; insurrections; riots; epidemics; landslides; <br />lig htning; earthquakes; fires; hurricanes; storms; floods; <br />washouts; droughts; arrests; restraint of government and peo~le; <br />civil disturbances; explosions: breakage or accident to <br />machinery; partial or entire failure of utilities; or any cause <br />or event not reasonably within the contrrJl of the Borrower, the <br />norrower is unable in whole or in part to carry out its <br />agreements herein contained, other than the obligations on the <br />part of the Borrower contained in S e ctions 4.2 and 8.4 hereof, <br />the Borrower shall not be de~ne<l in <lefault Juring the con- <br />tinuance of such inability. The 13orrower agrees, however, to use <br />its best efforts to remedy with all reasonable dispatch the c.:iuse <br />or cause~ preventing it from carrying out its agreements: <br />proviJetl, that the settlement of strikes, lockouts and other <br />industi:-ial disturbances shall be entirely witllin the discretion <br />of the Borrower, and the Borrower shall not be required to make <br />settlement of strikes, lockouts and other industrial disturbances <br />by accedinrJ to the demands of the opposing par.-ty O'C p,'lrties 1-1hen <br />such course is in the judgment ,Jf the Oorrower unfavorable to the <br />i3ori:-ower. :~ot1-1ithstnlllling the foregoing, any failure of the <br />-41-
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