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(19) "Senior Revenue Debt" shall mean the following debt obligations: <br />(a) City of Casselberry, Florida, Utility System Refunding Revenue Bonds, Series 2011, <br />issued in the amount of $5,400,000, pursuant to Resolution No. 02-1381, amended and <br />supplemented by Resolution 11-2282. <br />(b) Any refunding bonds issued to refund the obligations identified above provided such <br />bonds shall not increase annual debt service during the repayment period of this Loan. <br />(20) "Sewer System" shall mean all facilities owned by the Project Sponsor for collection, <br />transmission, treatment and reuse of wastewater and its residuals. <br />(21) "Water System" shall mean all facilities owned by the Project Sponsor for supplying <br />and distributing water for residential, commercial, industrial, and governmental use. <br />1.02. CORRELATIVE WORDS. <br />Words of the masculine gender shall be understood to include correlative words of the <br />feminine and neuter genders. Unless the context shall otherwise indicate, the singular shall <br />include the plural and the word "person" shall include corporations and associations, including <br />public entities, as well as natural persons. <br />ARTICLE II - WARRANTIES, REPRESENTATIONS AND COVENANTS <br />2.01. WARRANTIES, REPRESENTATIONS AND COVENANTS. <br />The Project Sponsor warrants, represents and covenants that: <br />(1) The Project Sponsor has full power and authority to enter into this Agreement and to <br />comply with the provisions hereof. <br />(2) The Project Sponsor currently is not the subject of bankruptcy, insolvency, or <br />reorganization proceedings and is not in default of, or otherwise subject to, any agreement or any <br />law, administrative regulation, judgment, decree, note, resolution, charter or ordinance which <br />would currently restrain or enjoin it from entering into, or complying with, this Agreement. <br />(3) There is no material action, suit, proceeding, inquiry or investigation, at law or in <br />equity, before any court or public body, pending or, to the best of the Project Sponsor's <br />knowledge, threatened, which seeks to restrain or enjoin the Project Sponsor from entering into or <br />complying with this Agreement. <br />(4) The Project Sponsor knows of no reason why any future required permits or <br />approvals associated with the Project are not obtainable. <br />(5) The Project Sponsor shall undertake the Project on its own responsibility, to the <br />extent permitted by law. <br />3 <br />