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No. 0969 approving an amended and restated lease between the SBRA and the RC for the AEDA public improvement project
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No. 0969 approving an amended and restated lease between the SBRA and the RC for the AEDA public improvement project
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date of delivery of the Bonds, nor will the Lessee act in any <br />manner which would adversely affect such exclusion. The Lessee <br />further covenants that it will not make any investment or do any <br />other act or thing during the period that any Bond is outstanding <br />hereunder which would cause any Bond to be an "arbitrage bond" <br />within the meaning of Section 148 of the Code and the regulations <br />thereunder as in effect on the date of delivery of the Bonds. All <br />officers, members, employees and agents of the Lessee are <br />authorized and directed to provide certifications of facts and <br />estimates that are material to the reasonable expectations of the <br />Lessee as of the date the Bonds are issued and to enter into <br />covenants on behalf of the Lessee evidencing the Lessee's <br />commitments made herein. <br />Section 5. Abatement of Rent. In the event that all or <br />a portion of either of the Projects shall be damaged or destroyed <br />so as to render the damaged or destroyed portion of the Projects <br />unfit for its intended use, it shall then be the obligation of the <br />Authority to restore and reconstruct the damaged or destroyed <br />portion of the Projects as promptly as may be done, unavoidable <br />strikes and other causes beyond the control of the Authority <br />excepted, if, in the opinion of an independent registered <br />architect, registered engineer, construction manager or contractor <br />selected by the Lessee and acceptable to the Trustee, (i) the cost <br />of such restoration or reconstruction does not exceed the amount <br />of the proceeds received by the Authority from the insurance <br />provided for in Section 9 hereof plus other moneys available <br />therefor and (ii) such restoration or reconstruction can be <br />completed within the period of time covered by the rental value <br />insurance provided for in Section 9 hereof. If either or both <br />conditions shall not exist, the proceeds received from the <br />insurance provided for in Section 9 hereof shall be applied to the <br />option to purchase price provided for in Section 14 hereof. The <br />rental shall be abated pro rata for the period during which the <br />damaged or destroyed portion of the Projects is unfit for its <br />intended use. <br />Section 6. Net Lease. It is expressly understood and <br />agreed that this Lease shall be what is known as a net lease (i.e., <br />the rent being absolutely net to the Authority and that all other <br />expenses in connection with the Projects of any nature whatsoever <br />shall be those of the Lessee) and that during the lease term the <br />Lessee shall be obligated to pay as its expenses without <br />reimbursement from the Authority all costs of taxes and <br />assessments, if any, and maintenance, operation and use in <br />connection with or relating to the Projects, including but not <br />limited to all costs and expenses of all services, repair or <br />replacement of all parts of the Projects or improvements of the <br />Projects. <br />-6- <br />\rlhill \sthbnd\ airport\ general\ lease.amd;tmg;12- 21- 90;9:00a.m. <br />
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