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1999-07-12 Resolution 133
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1999-07-12 Resolution 133
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7/16/2008 2:36:45 PM
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7/16/2008 2:28:12 PM
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The remainder of such purchase price, if any, shall be paid by the Lessee to the <br />• Authorit . Nothin herein contained shall be construed to provide that the Lessee shall be under any <br />Y g <br />obligation to purchase the Project, or under any obligation in respect to any creditors or bondholders <br />of the Authority. <br />Lessee may assign its option to purchase to a sublessee, which may exercise the <br />option in accordance with the provisions of this Section 12. <br />If the Lessee, or sublessee, as applicable, has not exercised its option to purchase the <br />Project at the expiration of the term of the Lease and upon the full discharge and performance by the <br />Lessee of its obligations under this Lease, the Authority shall execute a deed of the Project to the <br />Lessee or its designee conveying good and merchantable title thereto, subject only to Permitted <br />Encumbrances. <br />• 3. The Lease is amended to include the following as Exhibit C: <br />Exhibit C <br />LEASE PAYMENT SCHEDULE <br />DOWNTOWN PROPERTY ACQUISITION PROJECT <br />Semi-Annual Total Annual <br />Payment Rental Rental <br />Date Payment Payment <br />7/25/99 27,016.50 27,016.50 <br />1/25/00 52,290.00 <br />7/25/00 52,290.00 104,580.00 <br />1/25/01 52,290.00 <br />7/25101 52,290.00 104,580.00 <br />1/25/02 52,290.00 <br />7/25/02 52,290.00 104,580.00 <br />1/25/03 152,290.00 <br />7/25/03 152,290.00 304,580.00 <br />• 1/25/04 146,790.00 <br />:ODMA\I'CDOCS\SBDOCSI\38682\1 - 4 - <br />
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