Res 2003-122 - Laserfiche WebLink

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VI. TERM OF THE LEASE This Lease Agreement shall commence on September 1, 2003 and continue until August 31, 2008, a term of five calendar years. This Lease may be extended for one additional five year period, provided all terms and conditions shall remain in full force and effect except for the lease period being extended. This option, if exercised, is to be executed in the form of a letter of agreement, to be issued no sooner than 90 days prior to expiration of this Lease, nor later than the final day of the lease period. This option to renew requires the mutual agreement of both parties. Refusal by either party to exercise this option to extend, shall cause this Lease to expire on the original or mutually agreed upon date. The total period of this Lease, including all extensions as a result of exercising this option, shall not exceed a maximum combined period of 10 years. VII. RENT The total yearly lease fee of $10,800.00 for the first year is due and payable upon the execution of this Lease Agreement. Subsequent total yearly payments will be made on anniversary date of each subsequent year. VIII. SUB-LEASE OR LEASE TRANSFER It is expressly understood and agreed that the Lessee may not sub-lease any part of the leased property nor may the Lessee transfer the Lease Agreement to another party without the prior written consent of the Lessor. Consent to such sub-lease or transfer may be given by Lessor only if the third party agrees, in writing, to accept and abide by all of the provisions of this Agreement. IX. DEFAULT AND/OR RECAPTURE A. It is understood and agreed that the United States Government has certain rights with respect to the property leased, and that it is possible that a situation may arise in which, through no fault of either party, it may be necessary that this Agreement be terminated. In such event, Lessor shall refund to Lessee the prorata share of any prepaid lease money on the property involved. With regard to any provision of this Agreement, it is understood that the United States Government has an interest in the property leased, and that a national emergency or some other unforeseen condition may require that the possession of the property be surrendered to the United States Government or to an agency of the government, prior to the end of the term of this Agreement. In such termination, Lessor shall make reasonable efforts on behalf of Lessee to secure payment for the value of investments and/or of growing crops from the United States Government. B. This Agreement and all provisions shall be subject and subordinate to all the terms and conditions of the instruments and documents under which the Lessor acquired said property from the United States of America, and shall be given such effect and construction as will not conflict or be inconsistent with such terms or conditions. C. In the event either party should violate any term or provision of this Agreement, the party not in default shall give the defaulting party notice, and if such default complained of shall, in fact, constitute default, and unless the same is'not corrected within 15 days after the date of receipt of such written notice, then the party not in default shall have the option to terminate this Agreement, and in the event of such termination, Lessee shall return the leased premises to Lessor in as good a condition as it was at the beginning of this Agreement except for any changes brought about by weather conditions, harvesting of crops and other conditions beyond Lessee's control, in the event Lessor terminates this Agreement under the provisions of this paragraph, Lessor shall account to Lessee for the fair market value, as determined by the Lessor, of any agricultural products growing at the time of such termination less any damages or expenses incurred by Lessor in tending, harvesting and marketing same, such accounting to occur at the time any such crops are marketed, and Lessor agrees to market crops as 3