HomeMy WebLinkAbout0061 WHEREAS, the Act permits and the part~es intend that
the Project be financed by the Issuer as provided in the
Act and be constructed by the Company as independent contractor
of the Issuer on the site of the Project set forth in Exhibit ;
A hereto, which site has been or, prior to the issuance of j
the Bonds will be, mortgaged to the Issuer (hereinafter called
the "Mortgaged Property"); and ~
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WHEREAS, the Mortgaged Property is security for the
payment 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 industriaZ addition to the Company's citrus processing
plant, such addition financed by a parity bond issue designated
St. Lucie County Industrial Development Revenue Bonds (TreeSweet
Products Co. Project) Series 1972 (hereinafter called the
"Concurrent Parity Bonds"); and
WHEREAS, the Trustee has accepted the trusts created
by this Agreement and in evidence thereof has joined in execution
hereof; ~
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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 Dollars ($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 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 set forth in Exhibit B attached hereto, together
with all rights of the Issuer secured by such Mortgage as
security for the payment of the Bonds and the interest and
the reder~ption premium, if any, thereon and as security for
the satisfaction of any other obligation assumed by the Issuer
or the Company in connection 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 set forth in Exhibit C attached hereto, together
with all rights of the Issuer under such Unconditional Guaranty
as a guaranty of the rights, duties and obligations of the
Company under the Agreement, and as security for the satisfaction
~ of any other obligation assumed by the Company in connection
with such Bonds, and it is mutually agreed and covenanted
by and between the parties hereto, tor 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 otherwise, of any one Bond over
any other Bond, by reason of priority in the issue, sale
or negotiation thereof or otherwise, as follows:
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