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Res 1993-021
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Res 1993-021
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7/2/2007 2:14:31 PM
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7/2/2007 2:14:31 PM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Agreement
Number
1993-21
Date
1/25/1993
Volume Book
109
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12.2. <br /> <br />13.1 <br /> <br />any part thereof without the prior written consent, of Lessor. <br />Consent by Lessor to one or more assignments or sublettings <br />shall not operate as a waiver of Lessor's rights as to any <br />subsequent assignments and sublettings. Notwithstanding any <br />assignment or subletting, Lessee shall at all times remain fully <br />responsible and liable for the payment of the rent herein <br />specified and for compliance with all of its other obligations <br />under this Lease. <br /> <br />In the event of the transfer and assignment by Lessor of its <br />interest in this Lease and in the building on the Leased <br />Premises to a person, firm or corporation, assuming Lessor°s <br /> <br />obligations hereunder, Lessee agrees to look solely to the <br />responsibility of such successor in interest of~the Lessor. Any <br />security given by Lessee to secure performance of its <br /> <br />obligations hereunder may be assigned and transferred by Lessor <br />to such successor in interest of Lessor and Lessor shall thereby <br />be discharged of any further obligation. <br /> <br /> ARTICLE XIII. <br /> <br /> Events of Default and Remedies <br /> <br />The following events shall be deemed to be events of default by <br />Lessee under this Lease: <br /> <br />(1) Lessee fails to pay when due any rental or any other sums or <br /> charges due under this Lease. <br /> <br />(2) Lessee fails to comply with any other term, provision, or <br /> covenant of this Lease, and does not cure the failure <br /> within 30 days after written notice thereof to Lessee. For <br /> any subsequent default by the Lessee for the same or any <br /> other reason, the Lessor may terminate the lease, if that <br /> subsequent default continues for more than three (3) days <br /> after notice of the subsequent default. In all cases, the <br /> Lessee is responsible for the performance of any sublessee. <br /> <br />(3) Lessee becomes insolvent, or makes a transfer in fraud of <br /> <br /> creditors, or makes an assignment for the benefit of <br /> creditors. <br /> <br />-13- <br /> <br /> <br />
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