1990-05-15 Resolution 22 - Laserfiche WebLink

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Section 13. General Covenants. The Lessee shall not assign • this Lease or sublet any part of the Project herovidedschoweverltthat the prior written consent of the Authority; P the Lessee shall in no event assign this Lease or sublet any part of the Project if such assignment or sublease will resuloses ofeinterest the exclusion from gross income for federal tax purp on any obligation issued by the Authority to finance the Project. The Lessee covenants that, except for Peencumbranceuto exist~thereonl not encumber the Project, or permit any and that it shall use and maintain the Project in accord the Statetof laws and ordinances of the United overnmental meauthorities. The Indiana, and all other proper g execute Authority agrees that it will, at the request of the Lessee, and deliver to or upon the order of the Lessee such instrument or instruments as may be reasonably required by the Lessee in order to subject the Project, or the Authority's interest therein, to such encumbrances aseshrovisions eoff thisl Section rl3uort otherw se bylthe permitted by th p definition of "Permitted Encumbrances". Authorit hereby grants Section 14. Option to Purchase. Y Lessee the right and option, on any rental P rchase ahe Project at a days' written notice to the Authority, to P Y rovide price equal to the amount required to enable the Authorit to p for the redemption of all outstanding Bonds, all premiums payable on the redemption thereof, and accrued and unpaid interest, and to pay the cost of redeeming the Bonds and liquidating the Authority if it • is to be liquidated. Upon request of the Lessee, the Authority agrees to furnaid by itemized statement setting forth . tment d to in order t o purchase the the Lessee on the next rental PaY ara ra h. Project in accordance with the preceding p g P If the Lessee exercises its option to purchase, the Lessee shall pay to the Trustee that portion of the purchase price. which is required to provide for the payment of all the acc au ed lnanddlu~paid premiums payable on the redemption thereof, a ment interest thereon and the costs of redemption thereof. Such p y shall not be made until the Trustee gives to the Lessee a written statement. that such amount will be sufficient to 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 Project, or under any obligation in respect to any creditors or bondholders of the Authority. -7-