1988-06-17 Resolution 5 - Laserfiche WebLink

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• retire all Bonds including all premiums payable on the redemption thereof and accrued. and unpaid interest. The remainder of such purchase price, if any, shall be paid by the Lessee to the Authority. Nothing herein contained shall be construed to provide that the Lessee shall be under any obligation to purchase the Facility, or under any. obligation in respect to any creditors or bondholders of the Authority.. If the Lessee has not exercised its option to purchase the Facility at the expiration of the term of the Lease .and upon the full discharge and performance by the Lessee of its obligations under this Lease, the Authority shall execute a deed of the Facility to the Lessee conveying good and merchantable title thereto, subject only to Permitted Encumbrances. Section 15. Utility Service. The Lessee agrees to pay or cause to be paid all charges for sewer, gas, water, electricity, light, heat or power, telephone or other utility service used, rendered or supplied upon or in connection with the Facility throughout the term of this Lease, and to indemnify the Authority and save it harmless against any liability or damages on such account. The Lessee shall also at its sole cost and expense procure any and all necessary permits, licenses, or other authorizations required for the .lawful and proper installation and maintenance upon the Facility of wires, pipes, conduits, tubes, and other equipment and appliances for use in supplying any such service to and in the Facility. Section 16. Defaults. If the .Lessee shall (a) default in the payment of any rentals or other sums payable to. the Authority hereunder, or in the payment of any other sum herein required to be paid for the Authority, (b) fail to comply with the terms set forth in the Lease Resolution, or (c) default in the observance of any other covenant, agreement or condition hereof, and such default under (c) shall continue for ninety (90) days after written notice to correct the same, then, in any of such events, the Authority may proceed to protect and. enforce its rights, either at law or in equity, by .suit, action, mandamus or other proceedings, whether for specific performance of any covenant or agreement contained herein or for the enforcement of any other appropriate legal or equitable remedy. Section 17. Notices. Whenever either. party shall be required to give notice to the other under this. Lease, it shall be sufficient service of such notice to deposit the same in the United States mail, in an envelope duly stamped, registered and addressed to the other. party at its last known place of business. A copy of any notice shall be mailed by first-class mail to the Trustee at its last known place of business. • -8-