1983-102 - Laserfiche WebLink

Home Browse Search

-::eeds .)f ~.!1e i3onds and the income fr.om investment of funds under and co the extent provided in the Indenture, and the revenues and rccr.:iipts ,lerived by the Issuer from or in connection with the rep.iy;;icnt ::if .i loan ( the "Loan") from the Issuer to the Borrower for the iinancing of the Project, including payments received under the Loan Agreement. The i3onc1s are additionally secured by .1 security interest in and a mortgage upon the Project, all as :norc p,uticu l.arly set forth in the Indenture. [~ull payment of the pri~ci~al of and premium, if any, and interest on the Bonds has been :ully guaranteed by Clark D0::velopment, Inc., Jack A., ~l~r~, Christopher A, Clark and Martin B. Clark (collectively, the "Guar.'.l nt:ir"l pursuant to a Guaranty Agreement dated as of the dat.e hereof, between the Guarantor, the Issuer and the Trustee. :;ei:::"'ler this Bond nor the premium, if any, nor the interest there0n shall. be or constitute a general obligation of the Issuer or ,-i lien uron any property owned by or situated within the JurisJicL~onal territorial limits of the Issuer, except upon the !)rop~rti..~s secured under the Indenture. The holder of this 13ond shall ~~t. i1ave the right to compel any exercise of the ad valor.em taxing power of the State of Florida or of any political sub- .livision of such State to pay this Bond or the interest. thereon. Th~ Issuer shall not be obligated to pay this □ond or the i.;-it<.?rest thereon except from the proceeds of the Bonds and invr:i~t.nent. income under the Indenture ,1nd the revenues and receipts Jerived from the Loan Agreement. The Bonds are issuable in the form of fully registered 3onJs, ~ithout coupons, in denominations of $1,000 or any inte')r.:il r.mltiple of ~1,000. The holder of any Bond or 13onds may surr~nu.?r t.he same, at the Corporate Trust Office of the Trustee, i~ exchan1e for an equal aggregate principal amount of fully registerl.?J Done.ls of any authorized denomination, in the manner, subj~ct to the conditions and upon the pa~nent of the charges ~rovided in the [ndenture. In like manner, subject to such con- diLiC>n5 and upon the payment of such charges, the holder of any bond may !HJrrender the sarne (together with a written instrument of transfer satisfactory to the Trustee duly executed by the re~istered owner or his attorney duly authorized in writing), in ex.chan3e for ;:i,n equal aggrega.te rrincipal amount of full.y re1ist~rad ilonds, without coupons, of any authorized denomina- tions, registered in the name of the trannferee, 'l'he .JanJs are subject to mandatory redemption, in some circumstances with a rremium, only as follows: (a) the Oonds shall be redeemed by the Issuer as a whole on any date at the price of the unpaid princi!:)a l. amount thereof plus accrueJ i~tecest to the Jate fixed for reJemption, upon the discon- tinu.ince iJy the Borrower of its operations at the ['roject and the -5-