Laserfiche WebLink
11' <br /> II <br /> 8. Appointment of Registrar and Assignment. Barnett Bank, N.A., the <br /> Purchaser, is appointed initial Registrar with respect to the Bonds with the duties set <br /> forth in the Loan Agreement. The Purchaser will be the initial owner of Bonds and the <br /> Issuer's rights under the Loan Agreement, the Mortgage, the Guaranty, and the other <br /> Loan Documents will be assigned to the Purchaser as security for payment of the <br /> amounts owned by the Issuer under the Bonds. The Bonds and the rights of the <br /> Purchaser hereunder and under the Loan Agreement,the Mortgage, the Guaranty and <br /> the other Loan Documents may be transferred or assigned by the Purchaser or any <br /> subsequent holder of such Bonds and rights. All payments due on the Bonds shall be <br /> made directly to the Purchaser or its assignee by the Borrower on behalf of the Issuer. <br /> div The Bonds is issued in registered form. In the event of transfer of the Bonds by the <br /> Purchaser,the Purchaser shall continue to maintain the registration books with respect <br /> to the Bonds and shall notify the Borrower and the Issuer in writing of the name and <br /> address of any transferee. No transfer shall be valid unless noted upon the <br /> registration books for the Bonds. All payment of the principal and interest on the <br /> Bonds shall be made to the registered holder of the Bonds at the address indicated in <br /> such registration books. <br /> 9. No Personal Liability. No covenant, stipulation, obligation or agreement <br /> contained in this Resolution or contained in the Loan Agreement, the Bonds, the <br /> Assignment, the Loan Documents or any other instrument will be deemed to be a <br /> covenant, stipulation, obligation or agreement of any officer, member, agent or <br /> employee of the Issuer in his or her individual capacity, and no member of the Board <br /> of the Issuer executing the Bonds or other documents mentioned will be liable <br /> personally or be subject to any personal accountability by reason of the issuance or <br /> execution of each document. <br /> 10. No Third Party Beneficiaries. Except as provided in this Resolution or any <br /> Loan Documents, nothing in this Resolution or in the documents, express or implied, <br /> is intended or will be construed to confer upon any person other than the Issuer, the <br /> Borrower and the owner of the Bonds any right, remedy or claim, legal or equitable, <br /> under and by reason of this Resolution or any provision of this Resolution or of the <br /> Loan Documents; this Resolution and the Loan Documents being intended to be and <br /> being for the sole and exclusive benefit of the described parties and their successors <br /> and assigns. <br /> 11. Prereauisites Performed. All acts, conditions and things relating to the <br /> passage of this Resolution and required by the Constitution or laws of the State of <br /> Florida to happen, exist and be performed precedent to and in the passage of this <br /> Resolution have happened, exist and have been performed as required. <br /> 12. General Authority. The Chairman or Vice Chairman and the members of <br /> the governing body of the Issuer and the Clerk or the Chief Deputy Clerk of the Circuit <br /> Court of the Issuer are authorized to do all acts and things required of them by this <br /> Resolution,the Loan Agreement or the Assignment or desirable or consistent with the <br /> -5- <br />