Res 2007-044 - Laserfiche WebLink

Home Browse Search

Lease. The Lessee agrees to reimburse the City for any expenses the City incurs in effecting compliance with the Lessee' obligations under this Lease, within 30 days of the City's issuance of a statement for the expenses to the Lessee. The City and its officers, agents and employees shall not be liable for any damages or injuries that result to the Lessee from any action taken under this paragraph, whether caused by the negligence of the City or otherwise. The City ? s pursuit of any of these remedies will not preclude pursuit of any other remedies provided under this Lease or by law, nor will pursuit of any remedy constitute a waiver of any rent due to the City orof any damages caused to the City by any violation of this Lease by the Lessee. Any failure by the City to enforce a remedy upon an event of default shall not be deemed to constitute a waiver of the default or of the City's right to insist on strict compliance with this Lease. 11.03. If it becomes necessary for the City to employ an attorney to enforce or defend any of the City's rights or remedies because of any breach or default by the Lessee under this Lease, the Lessee agrees to pay all reasonable attorney's fees incurred by the City, within 30 days of the City ? s issuance of a statement for the fees to the Lessee. Article 12. Landlord's Lien 12.01. The Lessee grants to the City a valid first security interest upon all of the Lessee's goods, chattels, furniture, fixtures and property upon the Leased Premises to secure all rents and other sums due or to become due to the City. The Lessee expressly waives all exemption laws in favor of this security interest; and it is agreed that this express security interest shall be in addition to, and not as a waiver of or substitute for any statutory or other liens of the City. In connection with this security interest, it is agreed that in the event of a breach or default by the Lessee, the City shall be entitled to exercise all rights and remedies provided to a secured party after default under the Uniform Commercial Code ("UCC"}, as adopted and amended in Texas, with respect to all such property, including, without limitation, the righttotake and retain possession ofthe property and to sell it at public or private sale, or to use it in any other manner authorized or provided in the UCC. Upon request by the City, the Lessee agrees to execute and deliver UCC Financing Statements to the City as the City deems necessary to perfect the City's security interest in the property, and proceeds thereof under the provisions of the UCC. Article 13. Lessee's Mortgage of Leasehold Interest 13.01. The City grants permission to the Lessee for the mortgaging of the Lessee's leasehold interest in the Leased Premises for the sole purpose of obtaining funding for permanent improvements to the Leased Premises. The Lessee will provide written notification to the City of each such mortgage within ten days after it is executed. The City agrees that any lien in its favor arising under this Lease as to any such improvements will be subordinate to the lien of the mortgagee under each such mortgage. This clause is self operative and no further instrument of subordination need be required by any mortgagee of the Lessee. The mortgaging by the Lessee of its leasehold interest for any other purpose, however, shall require the advance written approval of the City. Article 14. Operation of the Airport; City's Access to Leased Premises COSM Form 1/99 8