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payments due to be made by the Company to the Trustee fifteen ~
(15) days prior to the first day of the next succeeding month; ~
but the Trustee's failure to furnish such a statement shall ~
not affect the Company's unconditional obligation to pay ~
when due the sums required by paragraphs (A) and (B) of this
Section. If the Trustee shall fail to furnish such a statement ,
when due, the Company shall pay within thirty (30) days of `
receipt of such statement the sums required by paragraphs
(C), (D) and (E) of this Section. ~
In the event an installment payment date falls on
a non-banking day of the Trustee, the installment payment
involved shall be due and payable at the time of opening
for business on the next succeeding day that is a banking
day. +
Section 3.04. OBLIGATION TO PAY UNCONDITIONAL. So
long as any of the Bonds or interest thereon or any other
obligations of the Company hereunder shall be outstanding,
or until payment thereof has been duly provided for,_the
Company's obligation-to pay such installments upon the purchase
price shall be absolute and unconditional, and such installments
shall be payable on the dates and'at the times specified
without notice or demand (except as provided herein), without
abatement or set-off, regardless of any contingencies whatsoever,
and notwithstanding any circumstances or occurrences that
may now exist or that may hereafter arise or take place,
including but without limiting the generality of the foregoing
the following:
(A) The failure-to complete the Project by any particular
time, or at all;
(B) Damage to or destruction of the Project or the +
Mortyaged Property or any part thereof, by Act of God or
otherwise; -
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(C) Legal curtailment of the Company's use or occupancy
of the Project or the Mortgaged Property, or any part thereof,
through procedures o~ eminent domain or otherwise; °
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(D) Change in the Company's legal organization or
status;
(E) Any assignment or lease of the Project or the ;
P~lortgaged Property by t~e Company, notwithstanding a consent !
thereto by the Issuer;
(F) Any termination of this Agreement for any reason
whatsoever, including, without li.mitation, termination by
reason of a default by the Company hereunder;
(G) Failure of consideration or commercial frustration 3
of purpose; j
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(H) Failure of the Issuer's title to the Project y
~ or the interest in the Mortgaged Property or any part thereof '
- or the existence of any encumbrance, encroachment or other
defect of any nature whatsoever;
(I) Any change in the tax laws or other laws of the
United States of America or of the State of Florida or of
any political subdivision thereof, including the Issuer;
or
10
~40%~~ PACE i
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