Res 1995-083 - Laserfiche WebLink

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f (. ':fIt \ , (e) In the event any payment by Lessee hereunder is received by Lessor or its assignee later than ten (10) days from the due date, Lessee shall pay Lessor on demand as a late charge, ten percent (10%) of such overdue amount, limited, however, to the maximum amount S;Uowed by law. In addition, Lessee will remain liable for all covenants and lawfully-permitted indemnities under this Lease and for all legal fees and other costs and expenses, including court costs, incurred by Lessor with respect to the enforcement of any of the remedies listed above or any other remedy available to Lessor. 22. SECURITY AGREEMENT - To secure the payment of the Payments due and any and all liabilities, direct, indirect, absolute, contingent, due or to become due or existing or hereafter arising of Lessee to Lessor, Lessee grants to Lessor as the Secured Party a security interest in and to all Equipment described in Exhibit A. together with all additions, attachments, accessions, substitutions and proceeds with respect thereto. Lessee agrees, if requested by Lessor or its assignee, to execute and deliver to Lessor or its assignee fInancing statements or other similar instruments furnished by Lessor or its assignee. 23. TERMINATION PROCEDURE. Lessee shall, upon any termination hereof pursuant to Section 5 hereof with respect to which Lessee is voluntarily relinquishing the Equipment to Lessor, make available the Equipment , to Lessor unencumbered and in at least as good condition and repair as when delivered to Lessee, Ordinary wear and tear resillting from proper use alone excepted. In the event Lessor is entitled under the provisions of this Lease to obtain possession of the Equipment due to a voluntary relinquishment thereof by Lessee, Lessee agrees to (i) fully cooperate with Lessor in all respects in effecting a timely and orderly redelivery of the Equipment to Lessor; (ü) execute and deliver to Lessor, or at Lessor's directions, all documents necessary to transfer legal and beneficial title to the Equipment in possession thereof to Lessor and to evidence the termination of Lessee's interest in the Equipment. < 24. AUTHORITY. Lessee is dilly charged with the authority for executing this Lease between Lessee and Lessor and does hereby certify as follows: (a) No portion of the gross proceeds of the Lease will be used to make or fInance loans to persons other than governmental units or be used in any trade or business carried on by any person other than a governmental unit. (b) LESSEE CERTIFIES THAT IT HAS DESIGNATED THE OBLIGATION CREATED BY THIS LEASE AS A QUALIFIED TAX-EXEMPT OBLIGATION IN ACCORDANCE WITH SECTION 265(b)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, AND FURTHER IT HAS NOT DESIGNATED MORE THAN $10,000,000 OF OBLIGATIONS AS QUALIFIED OBLIGATIONS IN ACCORDANCE WITH SUCH SECTION FOR THE CALENDAR YEAR 1995 AND REASONABLY ANTICIPATES THAT THE TOTAL AMOUNT OF QUALIFIED OBLIGATIONS TO BE ISSUED BY LESSEE DURING THE CALENDAR YEAR 1995 WILL NOT EXCEED $10,000,000. IN THE EVENT SUCH ACTION HAS NOT BEEN TAKEN, LESSEE CERTIFIES THAT IT WILL TAKE SUCH ACTION TO DESIGNATE THIS OBLIGATION AS QUALIFIED WITHIN 30 DAYS OF THE EXECUTION HEREOF, UNLESS OTHERWISE NOT PE&\1ITI'ED BY OTHER COVENANTS OF LESSEE WITH RESPECT TO ITS EXEMPT OBLIGATIONS. 25. NOTICES. All notices to be given under this Lease shall be made in writing and mailed by certified mail to the other party at its address set forth herein or at such address as the party may provide in Writing from time to time. Any such notices shall be deemed to have been received five (5) days subsequent to mailing. 26. REPRESENTATIONS: (a) In authorizing and executing this Lease, Lessee has complied with all public bidding laws and other state and Federal laws applicable to the Lease and the acquisition of the Equipment. (b) Lessee will use the Equipment for essential governmental functions. (c) Lessee will not make or allow any use ofthe Equipment or any portion thereof that woilld cause the agreement