Res 2003-032 - Laserfiche WebLink

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(2) The Company may terminate this lease on giving at least thirty (30) days' notice to the City of such intention. In the event the Company elects this option, the lease will be terminated on the date designated in the Company's notice, unless the City has cured the default prior to expiration of the thirty (30) day period. Any damages, as a result of the default of the City, incurred by the Company will be fully compensated by the City to the Company. K. Cumulative Remedies. All rights and remedies of the City and the Company under this Agreement and Lease shall be cumulative, and none shall exclude any other right or remedy provided by law or by any other provision of this Agreement and Lease. All such rights and remedies may be exercised and enforced concurrently and whenever, and as often, as occasion of their exercise arises. L. Waiver of Breach. A waiver by either party of a breach of this lease by the other party does not constitute a continuing waiver or waiver of any subsequent breach of this Agreement or Lease. M. Bankruptcy of the Company. If the Company shall file a petition under any section or chapter of the United States Bankruptcy Code, as amended, or under any similar law or statute of the United States or any state thereof, or if the Company shall be adjudged bankrupt or insolvent in proceedings filed against the Company thereunder; or a petition or answer proposing the adjudication of the Company as a bankrupt or its reorganization under any federal or state bankruptcy or similar law shall be filed in any court and such petition or answer shall not be discharged or denied within sixty (60) days after the filing thereof the the City may terminate this Lease Agreement by providing 90 day written notice of the intent to terminate to the Company, unless the Company reaffirms this lease Agreement in its entirety in writing before the expiration of 90 days after the date notice of the intent to terminate is received by the Company. N. If a receiver or trustee shall be appointed for all or substantially all of the assets of the Company or any of the Company's property located on the leased premises in any proceeding, or any such receiver or trustee shall be appointed in any proceedings brought against the Company and shall not be discharged within sixty (60) days after such appointment or the Company shall consent to or acquiesce in such appointment the City may terminate this Lease Agreement by providing 90 day written notice of the intent to terminate to the Company, unless the Company reaffirms this Lease Agreement in its entirety in writing before the expiration of 90 days after the date notice of the intent to terminate is received by the Company. O. Repairs and Maintenance. The Company hereby accepts the leased premises and, provided the construction of improvements is properly completed in accordance with the plans and specifications, all improvements on the lease premises in their condition on the commencement date hereof. (1) Maintenance and Surrender by the Company. From and after the commencement date, the Company shall maintain the leased premises and keep the leased premises and all improvements on the leased premises in the same order and condition as the leased premises were on the commencement date hereof, free from waste or nuisance, including, but not limited to, making repairs necessary to maintain the leased premises and all improvements on the leased premises in such condition, reasonable wear and tear excepted. The City assigns to the Company all warranties relating to the construction of the improvements which pertain to the Company's obligations hereunder. At the termination of this lease, the Company shall surrender and deliver the leased premises and all improvements on the lease premises to the City in as good a state of repair and condition as said leased premises and improvements were in on the effective date hereof, reasonable wear and tear excepted. (2) Remedy for Failure to Maintain. in the event either party fails to perform its obligation to repair or maintain, as set forth above, after written notice from the other party of the need for such repair or maintenance and the passage of a reasonable amount of time (but in no event more than sixty ¡60] days) for performance after such written notice, the other party may make such repairs or perform such maintenance. The party obligated to repair or maintain shall reimburse the party 6 Initial as to approval: Company _ City_