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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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:i.:1nt;5 tt1..lt. it ,..ill defend its interest in the Trust Estate for <br />the h~nofit 0f the owners of the Bonds against the claims and <br />Jt?manJs af c.111 Person~ lot'homsoever. The Issuer covenc1nts that it <br />,..tll ~ake such further actions as the Trustee may reasonably <br />require :or the better assuring, pledging, assigning and con- <br />Eir~Ln1 ~o the Trustee, all and singular the rights assigned <br />hare-□ y ·:o the payment of the principal of, pc-emium, if any, and <br />intt?C"~st on the Bonus. The Issuer covenants and agrees that, <br />e xce!Jt. .1s hec-ein and in the Loan Agreement pC"oV ided, it will not <br />sell, convey, mortgage, encumber' or othenvise dispose of any pac-t <br />~i t~s lntec-est and rights in the Note, the Revenues, the Loan <br />~gc-~~ment, or-any other-portion of the Trust Estate, <br />7he Issuer ~ill cause this Indenture and any and all <br />~Jdi~ion~l instruments executed pursuant to the provisions hereof <br />at dll times to be recoc-ded and filed and kept recoc-detl and filed <br />in such ~ublic offices as may be necessary or required by law in <br />OC"Jt?r ~ully to preserve, continue and rrotect the security of the <br />!3onJs .:i:iJ the C"ight.s and remedies of the Trustee. The Issuer <br />·,Hll :ully comply with all the C"equirements of any and every <br />recorJLn1 law or-any other law affecting the due recording and <br />filing ,Jf this Indenture or of any such additional instruments. <br />::'ht! [ssller ·..Jill also cause the Loan Agreement {or-the Mortgage <br />J.nJ ,1n 'l['pe"opriate financing statement), and any supplements <br />ch~r~to to be filed and recorded in like manner. <br />Section o.6 Rights Under Loan Agreement. The Loan <br />A]C"~eraent sets foe-th the covenants and obligations of the <br />Issuer 1nJ the uorrolot'er, and reference is hereby made to the Loan <br />,\,3r,~ement tor a detailed statement of such covenants ancl <br />ool iy:itions. The Issuer-agrees that the Trustee in its name oe" <br />La thl.l name of the Issuer .nay enforce all rights of the Issuer <br />.llld ,lll rJbligations of the Oorro,.,.er under and pursuant to the <br />i,.::,a.n .\,Jree::ient, for and on behalf of the Bon<.lholders, whether or <br />not the rssuer is in DefJult hereunder. <br />Section 6.7 Insurilnce, Repuirs anu 'r.i.xes. The Issuer <br />sh.i.11 c~use the ilore"ower at its cost and expense to insue"e the <br />i:'r:JJ•~ct, t.o kee!? the Project in good oruer and repair anu to pay <br />all L~wiul taxes, assessments and chae"ges at any time levied or <br />.1GS1hi5ed upon or-agilinst the Project or any part. thee"eof which <br />:ni 1ht. i:apair or prejtH..lice the lien or pri0cit.y of this Indenture, <br />.11.1 ,1s ,)roviclt?d in the Loan Agreement. The Issuer shall also <br />cause the Ooc-c-ower to ~eposit lot'ith the Tc-ust.ee all policies of <br />Lnsur.1nce cequired to be maintainecl un<ler the Loan Agreement or a <br />cert.i(i~~~e or cec-tificat.es of the c-espective insuc-ers ~ttesting <br />the tact that ~uch insurance is in full Eorce and effect. Prior <br />to the expiration ilnd cancellation of any such policy, the Issuer
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