HomeMy WebLinkAbout0004 • ~
1:9
«iEREAS, the Mortgaged Property is security for the pay-
ment of the purchase price set forth in Section 3.02 of this
Agreement and the performance by the Company of all obligations
of the Company as provided in this Agreement, and is also
security for the payment of the purchase price of an air and
watex pollution control project financed by a parity bond issue
designated St. I,ucie County Pollution Control Revenue Bonds
(TreeSweet Products Co. Project) Series 1972 (hereinafter called
the "Concurrent Parity Bonds");. ana
WHEREAS, the Trustee has accepted the trusts created by
this Agreement and in evidence thereof has joined in execution
hereof; ;
NOW, THEREFORE, in consideration of the premises, of the #
acceptance by the Trustee~of the trusts hereby created, and
of the purchase and acceptance of the Bonds by the holders ~
thereof, and also for and in consideration of the sum of Ten ;
DolZars ($10.00) to the Issuer in hand paid by the Trustee at ~
or before the execution and delivery of this Agreement, the
receipt of which is hereby acknowledged, and in order to secure
the payment of all the Bonds at any time issued and outstanding
hereunder and the interest and the redemption premium, if any,
thereon according to their tenor, purport and effect, and
in order to secure the performance and observance of all
the covenants, agreements and conditions therein and herein ~
contained, the Issuer has pledged and does hereby pledge to g
the Trustee the revenues, the proceeds and the special funds ~
of the Issuer to the extent provided in this Agreement and
the Resolution and the Issuer will at or prior to the sale ?
of the Bonds grant, bargain, sell, transfer, assign and
convey to the Trustee the Mortgage encumbering the property '
described in Exhibit A attached hereto, which Mortgage is _
described in Exhibit B attached hereto, together with all rights
of the Issuer secured by such Mortgage as security for the pay-
ment of the Bonds and the interest and the redemption premium,
if any, thereon and as security for the satisfaction of any
other obligation assumed by the Issuer or the Company in con-
nection with such Bonds, and the Issuer will, at or prior to the
sale of the Bonds, grant, bargain, sell, transfer,-assign and
convey to the Trustee the Unconditional Guaranty described in
Exhibit C attached hereto, together with all rights of the
- Issuer under such Unconditional Guaranty as a guaranty of the i
rights, duties and obligations of the Company under the Agreement,
` and as secnrity for the satisfaction of any other obligation
asswned by the Company in connection with such Bonds, and it
~ is mutually agreed and covenanted by and between the parties
f hereto, for the equal and proportionate benefit and security
~ of all and singular the present and future holders of the
! Bonds and interest coupons issued and to be issued under this
~
! Agreement, without preference, priority or distinction as to -
; lien or other~,~ise, of any one Bond over any other Bond, by
~ reason of priority in the issue, sale or negotiation thereof
or otherwise, as .follows: ;
ARTICLE I
CONSTRUCTION FUND
Section 1.01. SALE AND DELIVERY OF BONDS. In order
to provide the funds necessary for the payment of the cost of
4
2 ~O~C~~ ~
i
~ .
; .
_ - .
` ~