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40 <br />•0 <br />Hutchinson Utilities, Inc. <br />September 7, 1983 <br />Page four <br />tion with the construction, equipment and operation of the: <br />Project, or in any way growing out of or resulting frcm this pro- <br />posal (upon its becoming an agreement, if accepted) including, <br />without limitation, all costs and expenses of the Issuer, <br />including reasonable attorneys' fees, incurred in the enforcement <br />of any of your agreements herein contained. This indemnity shall <br />be superseded by a similar indemnity in the Agreement and, in the <br />event the bonds are not delivered, this indemnity shall survive <br />the termination of the agreement resulting from your acceptance <br />of this proposal. <br />7. If it becomes evident at any time, in the opinion of <br />bond counsel to the Issuer, that the interest on the bonds will <br />not be exempt from federal income taxation on the proposed date <br />of delivery of the bands, and/or that you are or will be inca- <br />pable of or unwilling to perform your obligations under the <br />Agreement and Note, when executed and delivered, this proposal, <br />if accepter] by you, may be terminated at the option of the Issuer, <br />and neither party shall have any rights against the other and no <br />third party shall have any rights against either party except as <br />provided in paragraphs 5(a), (b) and (c) of this proposal. <br />$. The Issuer has not undertaken any definitive review <br />of your financial statements, nor has it received from you a com- <br />mitment from a lending institution in regard to the financing for <br />the Project. The Issuer expressly reserves the right to review <br />such statements anti/or commitment and to decline to issue the bonds <br />unless the Issuer finds that you are financially responsible and <br />fully capable and willing to fulfill your obligations under the <br />proposed Agreement and Note. <br />If this proposal shall be satisfactory to you, please <br />execute and date the acceptance statement below, and provide an <br />accepted copy to the Issuer, whereupon this proposal will consti- <br />tute an agreement in principle with respect to the matters herein <br />contained. <br />(SEAL) <br />Yours very truly, <br />INDIAN RIVER COUNTY, FLORIDA, <br />By G_-. <br />Chairman, Board of County <br />©nets <br />