Ordinance 2002-162 - Laserfiche WebLink

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ARTICLE V LOAN REPAYMENTS SECTION 5.01. Payment of Basic Payments. Borrower shall pay to the order of the Council all Loan Repayments in lawful money ofthe United States of America to the Trustee. No such Loan Repayment shall be in an amount such that interest on the Loan is in excess of the maximum rate allowed by the laws of the State of Florida or ofthe United States of America. The Loan shall be repaid in Basic Payments, consisting of: (a) principal in the amounts and on the dates set forth in Exhibit D; plus (b) interest calculated at the rates, in the amounts and on the dates set forth in Exhibit D; On the fifteenth (15th) day ofthe month immediately preceding each Interest Payment Date, the Trustee shall give Borrower notice in writing ofthe total amount ofthe next Basic Payment due. The Basic Payments shall be due on each 20th and 20th, or if such day is not a Business Day, the next preceding Business Day (a "Loan Repayment Date"), commencing ,2003, and extending through 20,20_, unless the due date of the Basic Payments is accelerated pursuant to the terms of Section 8.03 hereof. SECTION 5.02. Payment of Surety Bond Costs. The Borrower recognizes that the Surety Bond Provider has provided to the Council the Surety Bond for deposit to the Reserve Fund in lieu of a cash payment or deposit by the Borrower. Therefore the Borrower hereby agrees to make deposits as set forth in subsection (c) of Section 5.03 hereof. Such Surety Bond maybe replaced by an Alternate Surety Bond issued with respect to funding the reserve fund of subsequent bonds issued by the Council whose reserve fund shall be on a parity with the Bonds, all in accordance with Section 4.08 of the Indenture. SECTION 5.03. Payment of Additional Payments. In addition to Basic Payments, Borrower agrees to pay on demand ofthe Councilor the Trustee, the following Additional Payments: (a) (i) Borrower's Proportionate Share of: the annual fees or expenses ofthe Council, if any, including the fees of any provider of arbitrage rebate calculations; the Bond Insurance Premium of the Bond Insurer (to the extent not previously paid from the Cost oflssuance Fund); the fees of the Program Administrator and the fees ofthe rating agencies (to the extent not previously paid from the Cost of Issuance Fund); and (ii) Borrower=s equal share of the annual fees of the Trustee; annual fees ofthe Registrar and Paying Agent; and the Surety Bond premium ofthe Surety Bond Provider and any related fees in connection with the Surety Bond (to the extent not previously paid from the Cost of Issuance Fund). (b) All reasonable fees and expenses of the Councilor Trustee relating to this Loan Agreement, including, but not limited to: 20