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<br />assignee, a sum equal to two (2%) per cent. on the par value of bonds exchanged hereunder, the
<br />amount due to be evidenced by certificates issued to First Party by the-Clerk-af the Board of
<br />County Commissionerssetting, forth the bondsexchanged. and . amount.,..due.,..which,,:certiticate the
<br />said Clerk is authorized and directed to issue by the execution_of this-d-ontract.-Said certi-
<br />ficates shall be.paid out of the interest and sinking.fund-of the issuing units oUt of funds
<br />available each six months after interest them due has been paid.
<br />Section 10. That general provisions shall.apply to.this-contract.as followst
<br />(A) That, for a period of three years from date hereof, First Party is granted ex-
<br />clusive authority to act for and on behalf of Section Party in all matters connected with, or
<br />relating to, the exchange of the presently.outstanding securities for Refunding Bonds, provided
<br />First Party has, within one year from date hereof, obtained the consent of the holders of seven-
<br />ty-five (75%) per cent., or more, of the bonds proposed to be refunded hereunder to partici-
<br />pate in the plan of refunding set forth herein.
<br />(B) That any judgments entered on any securities subject to refunding hereunder
<br />shall be considered as subject to refunding as if said judgments had not been obtained.
<br />(C) That the parties hereto will jointly use their best effortsto induce holders of
<br />the presently outstanding bonds included within the scope hereof to participate in the refund-
<br />ing program set forth herein, and, until otherwise mutually agreed upon, subject to the limi-
<br />tations herein set forth, the plan herein set forth shall constitute the exclusive refunding
<br />program for said Second Party.
<br />(D) That whenever and as often as the First Party shall request in writing to be in-
<br />formed as to the financial sffi rs of the Second Party, such as the amount of tax k vies, toll- 7
<br />ections, delinquencies, the amount of revenue and income_ available from sources other than from
<br />ad valorem taxes, the amount 'of bonds issued, outstanding or retired, or the.status or amount of
<br />interest or sinking fund, Second Party agrees to furnish such information promptly, and to give
<br />due consideration to any recommendations of the First Party with regard to such financial af�-:.,
<br />fairs.
<br />(E) That, if, during the life of this contract, any of the outstanding bonds subject
<br />to refunding, or coupons appurtenant thereto or clipped therefrom, shall be presented for pay-
<br />ment, or suit instituted thereon or in respect thereto, Second Party agrees that the First
<br />Party will be notified before any terms of settlement are agreed upon between Second Warty and
<br />any such bondholder.
<br />(F) That, unless otherwise hereafter mutually agreed upon between the parties hereto,
<br />no payments shall be made by Second Party to First Party under the terms of Section 9 hereof,
<br />until the consent of the owners of seventy-five per cent. (75%), or more, of the securities pro-
<br />posed to be refunded hereunder has been obtained to participate in said plan of refunding.
<br />IN WITNESS WHEREOF, First Party has executed this instrument -in duplicate, under its
<br />hand and seal, and Second Party has caused this instrument to be executed in duplicate in its
<br />name under due authority and has caused the same to be signed by the Chairman of the Board of
<br />County Commissioners of Indian River County, Florida, and the deal of said Board to be duly
<br />affixed hereto, attested by the Clerk of said Board, all as of the 7th day of December, A. D.
<br />193?.
<br />(SEAL)
<br />ATTEST
<br />E. Richardson
<br />E. Richardson
<br />Secretary
<br />(SEAL)
<br />R. E. CRUMM & COMPANY
<br />By_ Hewen A. Lasseter
<br />Hewen A. Lasseter
<br />Vice President
<br />FIRST PARTY
<br />WABASSO BRIDGE DISCTRICT
<br />in.Indian River County, Florida
<br />
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