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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
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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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all arrears of Loan Payments and the reasonable eKpenses and <br />charges of the Trustee, its agents And attorneys, and all othe r <br />payments required by the Loan .'\greement which are then due and <br />payable shall be paid to the Trustee. In the performance of any <br />of the acts or duties imposed upon the Trustee under the Loan <br />Agreement, the Trustee shall have the same rights, imm unities and <br />protections as are provided for the performance of acts or duties <br />imposed upon the Trustee under this Indenture. <br />Section 9.5 Rights and Remed4es of Trustee in the 8vent <br />of Bankruptcy, Etc. In case of the pendency of any receivership, <br />insolvency, liquiJation, bankruptcy, reorganization, arrangement, <br />composition or other judicial proceeding relative to the Issuer, <br />the Dorrower, any guarantor or other Person obligated to make <br />Loan Payments, or the Trustee (irrespective of whether there has <br />been a Default under this Indenture) shall be entitled and <br />empowered, by intervention in such proceedings or other·,Jise, to <br />file and prove a claim or claims for the whole amount owing and <br />unpaid and to file such other papers or documents as may be <br />necassary or advisable in order to have the claims of the Trustee <br />(including any claim for reasonahle compensation to the Trustee, <br />its agents, attorneys anu counsel, and for reimbursement of all <br />expenses and lia'oilities incurred, and all advances inade, by the <br />Trustee except as a result of its negligence or bad faith) and of <br />the Dondholders allowed in any such judicial proceedings, and to <br />collect and receive any money or other property payable or deli- <br />verable on any such claims, and any receiver, assi3nee or <br />trustee, liquidator, seq~estrator (or other similar official) in <br />any such judicial proceeding is hereby authorized by each oE the <br />Bondholders t.o mak e pay;ne.nts to the Trustee. <br />Section 9.6 Rights of Oorrower in event of Default by <br />Issuer under this Indenture. If the Borrower is not in default <br />hereunder, and an Event of Default should occur under this <br />Indenture, the Trustee shall noti fy the [3orrower in writing of <br />the occurrence of such default , and the Borrower shall have the <br />riyht to remedy such default hereunder within 30 days after such <br />written notice; provided, the Oorrower shall pay all expenses of <br />remedying such default. The exercise of the remedies set forth <br />in Section 9 , 2 are subject to the right oE the !3orrower un<ler <br />this Section to rerneuy u Jefault as in this Section provided and <br />li:niteu. <br />Section 9.7 Application of Money Collected. Any money <br />collecte~ by the Trustee pursuant to this Article shall be ap- <br />plied in the follo·,..ing or.Jer, at tht? uate or ,lates fixed by the <br />Trustee, and, in case of the cli.strihution of such money on ac- <br />count of principal, premium, if any, or interest, upon presenta- <br />tion of the Gonds, and upon ::iurremler thereof if fully paid: <br />-56-
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