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and executing such other releases and documents as may be
necessary, release to the Company all of the Issuer's ar~d
Trustee's rights, title and interest in the Mortgaged Property ~
described in Exhibit A attached hereto and-the Project situated ~
upon the Mortgaged Property, and all additional~lands and ,
addi~ions to the Project serving as security and encumbered ~
by the Mortgage or any security agreement as provided in ~
Section 4.Ol.and 5.03 hereof.
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Section 3.02. THE PURCHASE PRICE. The purchase price
to be paid by the Company for the Project is the aggregate
principal amount of the Bonds, the interest thereon (at the
rate or rates specified in the Bonds) and the reasonable ~
fees, expenses and expenditures of the Trustee, which purchase
price shall be paid in installments in such amounts as provided
in Section 3.03 hereof, by the Company remitting the same
directly to the Trustee for deposit by the Trustee in the
trust account provided for in the Resolution and designated
"St. Lucie County Industrial Development Revenue Bonds (TreeSweet ~
Products Co. Project) Series 1972 Bond Fund," (hereinafter
called the "Bond Fund"), to be used by the Trustee in the
manner provided in the Resolution. The Trustee shall furnish
to the Company, the Issuer and any bondholder who shall so
request in writing of the Trustee, at reasonable intervals
not less than annually, an accounting of the funds expended ;
out of and remaining on deposit in the Bond Fund.
Section 3.03. PURCHASE PRICE PAYABLE IN INSTALLMENTS.
Commencing May 15, 1973, and at least fifteen (15) days before
June 1 and December 1 of each year until the principal of
and interest on the Bonds shall have been fully paid or provision
for the payment thereof shall have been made in accordance ;
with the Resolution, the Company shall pay to the Trustee, ~
in the manner provided in Section 3.02 above, an amount equal
i to the sum of the following: ~
~
~ (A) The principal amount of outstanding Bonds maturing
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on tne first day of the next succeeding month; and
(B) The amount of interest becoming payable on the ~
outstanding Bonds on the first day of such next succeeding
;
month; and `
;
(C) The amount of all reasonable fees and expenses ;
of the Trustee named in the Bonds which may be charged in :
connectiori with the performance of their duties and services ~
with respect to such current payments of principal and interest, {
or either, and as otherwise required or indicated by the
Resolution and this Agreement; and
(D) The amount of all reasonable expenditures and
expenses not previously reimbursed, made and incurred by
the Issuer by reason of any advances made pursuant to Section
4.0_6 hereof, or made or incurred by the Issuer pursuant to
Section 7.07 hereof by reason of default on the part of the
Company hereunder, and
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(E) The amount of deficiencies in prior payments
~ due hereunder.
Not later than each May 1 and November 1 the Trustee
shall furnish to the Company an itemized statement of the
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