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Ordinance 2012-384
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Ordinance 2012-384
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Last modified
4/24/2012 3:13:25 PM
Creation date
4/24/2012 3:12:08 PM
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CityClerk-Ordinances
Ordinance Number
2012-384
Date (mm/dd/yyyy)
04/19/2012
Description
$10 Million Capital Improvement Revenue Refunding Bonds/Loan Agmt.
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<br />or made in writing by the City in connection herewith shall be in full force and effect from the <br />date hereof and shall continue in effect until as long as the Bond are outstanding. <br /> <br />Section 9.6. Notiees. All notices, requests, demands and other communications which <br />are required or may be given under this Agreement shall be in writing and shall be deemed to <br />have been duly given when received if personally delivered; when transmitted if transmitted by <br />telecopy, electronic telephone line facsimile transmission or other similar electronic or digital <br />transmission method (provided customary evidence of receipt is obtained); the day after it is <br />sent, if sent by overnight common carrier service; and five days after it is sent, if mailed, <br />certified mail, return receipt requested, postage prepaid. In each case notice shall be sent to: <br /> <br />If to the City: <br /> <br />City Manager and City Attorney <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br />Fax Number: 305-792-1641 <br /> <br />If to the Bank: <br /> <br />BB&T Governmental Finance <br />255 S. Orange Ave., 10th Floor <br />Orlando, Florida 3280 I <br />Fax Number: 877-320-4453 <br /> <br />or to such other address as either party may have specified in writing to the other using the <br />procedures specified above in this Section 9.6. <br /> <br />Section 9.7. Applicable Law. For purposes of this Agreement, Florida law shall <br />govern the terms of this Agreement. Venue shall be in Miami-Dade County, Florida. <br /> <br />Section 9.8. Binding Effect; Assignment. This Agreement shall be binding upon and <br />inure to the benefit of the successors in interest and permitted assigns of the parties. The City <br />shall have no rights to assign any of their rights or obligations hereunder without the prior <br />written consent of the Bank, which consent may be granted, withheld or made subject to <br />conditions in the Bank's sole discretion. <br /> <br />Section 9.9. Conflict. In the event any conflict arises between the terms of this <br />Agreement and the terms of any other Loan Document, the terms of this Agreement shall govern <br />in all instances of such conflict. <br /> <br />Section 9.10. No Third Party Beneficiaries. It is the intent and agreement of the parties <br />hereto that this Agreement is solely for the benefit of the parties hereto and no person not a party <br />hereto shall have any rights or privileges hereunder. <br /> <br />Section 9.11. Attornevs Fees. To the extent legally permissible, the City and the Bank <br />agree that in any suit, action or proceeding brought in connection with this Agreement, the Bond, <br />or the Ordinance (including any appeal(s)), the prevailing party shall be entitled to recover costs <br />and attorneys' fees from the other party. The City does not waive sovereign immunity for any <br />claim for breach of contract or for an award of prejudgment interest; provided, however, that in <br /> <br />15 <br /> <br />MIA 182.397.885vl 3-5-12 <br />
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