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<br />Such covenant to budget and appropriate does not create any lien upon or pledge of such
<br />Non-Ad Valorem Revenues, nor does it preclude the City from pledging in the future its Non-Ad
<br />Valorem Revenues, nor does it require the City to levy and collect any particular Non-Ad
<br />Valorem Revenues, nor does it give the Bond Holders a prior claim on the Non-Ad Valorem
<br />Revenues as opposed to claims of general creditors of the City. Such covenant to appropriate
<br />Non-Ad Valorem Revenue is subject in all respects to the payment of obligations secured by a
<br />pledge of such Non-Ad Valorem Revenues heretofore or hereafter entered into (including the
<br />payment of debt service on bonds and other debt instruments). However, the covenant to budget
<br />and appropriate in its general annual budget for the purposes and in the manner stated herein
<br />shall have the effect of making available in the manner described herein Non-Ad Valorem
<br />Revenues and placing on the City a positive duty to appropriate and budget, by amendment, if
<br />necessary, amounts sufficient to meet its obligations under this Agreement, subject, however, in
<br />all respects to the terms of this Agreement; and subject, further, to the payment of services and
<br />programs which are for essential public purposes affecting the health, welfare and safety of the
<br />inhabitants of the City or which are legally mandated by applicable law.
<br />
<br />Section 3.6 Prepayment. The City shall be entitled to prepay the Bonds prior to
<br />maturity in whole or in part at any time at a price as set forth in the form of Bond attached hereto
<br />as Exhibit "A", plus accrued interest to the date of prepayment, upon written notice to the Holder
<br />given by the City at least two (2) Business Days prior to the date fixed for prepayment.
<br />
<br />Section 3.7 Business Days. In any case where the due date of interest on or principal
<br />of the Bonds is not a Business Day, then payment of such principal or interest need not be made
<br />on such date but may be made on the next succeeding Business Day, provided that credit for
<br />payments made shall not be given until the payment is actually received by the Bank.
<br />
<br />Section 3.8 Officers and Employees of the City Exempt from Personal Liability.
<br />No recourse under or upon any obligation, covenant or agreement of this Agreement or the
<br />Bonds or for any claim based thereon or otherwise in respect thereof, shall be had against any
<br />Commissioner of the City, or any officer, agent or employee, as such, of the City past, present or
<br />future, it being expressly understood (a) that the obligation ofthe City under this Agreement and
<br />the Bonds is solely a corporate one, (b) that no personal liability whatsoever shall attach to, or is
<br />or shall be incurred by, the City Commission, or the officers, agents, or employees, as such, of
<br />the City, or any of them, under or by reason of the obligations, covenants or agreements
<br />contained in this Loan Agreement or implied therefrom, and (c) that any and all such personal
<br />liability of, and any and all such rights and claims against, every such Commissioner of the City,
<br />and every officer, agent, or employee, as such, of the City under or by reason of the obligations,
<br />covenants or agreements contained in this Loan Agreement, or implied therefrom, are waived
<br />and released as a condition of, and as a consideration for, the execution of this Loan Agreement
<br />and the issuance of the Bonds on the part of the City.
<br />
<br />Section 3.9 Bonds Mutilated. Destroyed. Stolen or Lost. In case any Bond shall
<br />become mutilated, or be destroyed, stolen or lost, the City shall issue and deliver a new Bond of
<br />like tenor as the Bond so mutilated, destroyed, stolen or lost, in exchange and in substitution for
<br />such mutilated Bond, or in lieu of and in substitution for the Bond destroyed, stolen or lost and
<br />upon the Holder furnishing the City proof of ownership thereof and indemnity reasonably
<br />satisfactory to the City and complying with such other reasonable regulations and conditions as
<br />
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