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Res 1997-094
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Res 1997-094
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Last modified
6/11/2007 3:43:42 PM
Creation date
6/11/2007 3:43:42 PM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Agreement
Number
1997-94
Date
6/9/1997
Volume Book
129
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<br /> Llfþ <br /> in the creditwort1ùness, ÍÌnancial condition or the results of the operations of Lessee since the date of the latest <br /> financial statements of Lessee, if any, given to Lessor. <br /> h. During the tenn of this Lease, the Equipment will be used solely for governmental purposes <br /> of the Lessee. <br /> I. Lessee has no contingent or disputed liabilities or unrealized or anticipated losses which in <br /> the aggregate are material, or any material commitments of an unusual or burdensome character. <br /> J. In addition to notices required herein, Lessee shall immediately give notice in writing to <br /> Lessor of (I) the occurrence of an Event of Default, or any condition, event or act which with the giving of <br /> .- notice, failure to cure, the passage of time, or all of the foregoing would constitute such an Event of Default; <br /> and (ii) any change in the name or nature of Lessee, any change in its fonn, management or organizational <br /> structure and any change in Lessee's address of principal location(s) of business or location(s) of the <br /> Equipment. <br /> k. No certificate, document or statement furnished to Lessor (or to be furnished to Lessor) <br /> by or on behalf of Lessee. in connection with this Lease, and none of the representations and warranties herein, <br /> contains (or will contain) any untrue statement of a material fact necessary in order to make the statements <br /> contained therein or herein not misleading. There is no fact which materially adversely affects or in the future <br /> (so far as Lessee can now foresee) may materially adversely affect the ability of Lessee to perfonn its <br /> obligations which has not been set forth herein or in a certificate or opinion of counselor other written <br /> statement furnished to Lessor by or on behalf of Lessee. <br /> 1. Lessee shall defend Lessor's right, title and interest in the Equipment against, and keep the <br /> Equipment ffee of, all levies, liens, claims and encumbrances of every kind and description, and however and <br /> whenever arising, except those, if any, which Lessor has created or to which Lessor has consented in writing. <br /> At Lessor's option, Lessee shall provide and affix to the Equipment, at Lessee's expense, labels or other <br /> physical attachments satisfactory to Lessor clearly disclosing Lessor's security interest in the Equipment. <br /> Lessee shall not allow the Equipment or any part thereof to become a fixture with respect to real property, <br /> unless consented to in advance and in writing by Lessor. <br /> m. Lessee has never failed to appropriate funds or defaulted under any bond, note, warrant, <br /> debt obligation, agreement, or under any contract similar to this Lease. Lessee anticipates having sufficient <br /> "- moneys to pay, and that will be available and used for the payment of, regardless whether moneys are hereafter <br /> budgeted therefor, an amount equal to that portion of the Base Rent set forth in Equipment Schedule when <br /> the same becomes due for the remainder of the current fiscal year of Lessee. <br /> n. Lessee has complied with all applicable procedures and requirements, including, without <br /> limitation, any legal bidding requirements, prior to the execution of this Lease. <br /> o. The representations made in the opinion of Lessee's counsel attached hereto as Exhibit "C" <br /> and incorporated herein by reference are, to the best knowledge of Lessee, true and correct. <br /> p. No official, officer or employee of Lessee will, directly or indirectly, receive any pecuniary <br /> or personal benefit ITom the transaction contemplated by this Lease. <br /> S <br />
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