1983-125 - Laserfiche WebLink

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.. The payment of the principal of, redemptinn premium, if any, and interest on the 1983 Bonds will be guaranteed by Clark Development, Inc., Jack A. Clark, Christopher A. Clark and Martin B. Clark, as guarantors (coll ectively , the "Guarantor "), pursuant to a separate Guaranty Agreement dated as of the date of the 1983 Bonds (the "Gua ra nty"). The proceeds of the sale of the 1983 Bonds shall be applied to pay the costs of the acquisition, construction and equipment of a 120-bed nursing home facility , including any necessary utilities within the jurisdictional territorial limits of the County (th e "Project"). The proceeds of the sale of the 1983 Bonds will be loaned to the Borrower to pay the costs of acquiring , constructing and eq ui pping the Project pursuant to a Loan Agreement, Mortgage and Security Agreement dated as of the date of the 1983 Bonds, between the County and the Borrower (th e "Loan Agreement"). 1.2. Sale and Purchase of Bonds; Closing. The County hereby agrees to sell to the Purchaser, subject to the terms and conditions hereof and subject to validation of the 19 83 Bonds by the Circuit Court for Indian River County, Florida, and the Purchaser, in reliance upon the r e spective representations and warranties of the County and the Borrower contained herein, hereby agrees to purchase from .the County, on the Closing Date hereinafter specified, $2,400,000 aggregate principal amount of the 1983 Bonds at a price equal to 100% of the par value thereof. The date for the delivery of the 1983 Bonds hereunder (the "Closing Date") shall be December 29, 1983, or such other business day subsequent thereto, but not later than December 31, 1983, as the County shall designate; provided , at least 5 days ' prior notice of such Closing Date shall be given to the Purchaser. On the Closing Date, the County will deliver the 1983 Bonds to the Purchaser a gainst payment ther e for by federal funds payable to the Trustee for the account of the County, at the principal office of Trustee in Jacksonville, Florida. On the Closing Date, the Co11nty shall deliver to the Purchaser one or more 1983 nonds in the aggregate principal amount specified above, registered in the name of the Purchaser or its nominee. 1.3. Representations of County. In addition to the representations of the County set forth in Section 1,2 of the Loan Agreement, upon which the Purchaser shall be entitle d to rely, the County hereby represents to the Purchaser that: -2 -