Laserfiche WebLink
. During the full term of this Lease, the Lessee will also, <br />at its own expense, maintain rental or rental value <br />insurance in an amount at least equal to the full rental <br />specified in Section 4 for the Century Center Portion <br />and the Hall of Fame Portion for a period of two (2) <br />years against physical loss or damage of the type insured <br />against pursuant to the preceding requirements of this <br />Section. Such policies shall be for the benefit of and <br />shall be made payable to the Trustee. <br />6. Section 10 of the Lease is amended to read <br />follows: <br />Section 10. Use of Insurance and Condemnation <br />Proceeds. Proceeds of insurance against damage to or <br />destruction of the Project or any portion thereof or <br />proceeds of any condemnation of the Project or any <br />portion thereof shall be paid to and held by the Trustee <br />and used to pay for reconstruction or replacement of the <br />Project in accordance with plans approved by the <br />Authority and the Lessee, unless the Lessee elects to <br />exercise its option to purchase. <br />7. Section 14 of the Lease is amended to read <br />follows: <br />• Section 14. Option to Purchase. The Authority <br />hereby grants Lessee the right and option, on any rental <br />payment date, upon thirty days' written notice to the <br />Authority, to purchase either or both of the Century <br />Center Portion or the Hall of Fame Portion of the Project <br />in whole or in part at a price equal to the amount <br />required to enable the Authority to provide for the <br />redemption of in whole or in part the outstanding Bonds, <br />all premiums payable on the redemption thereof, and <br />accrued and unpaid interest, and to pay the cost of <br />redeeming the Bonds and liquidating the Authority if it <br />is to be liquidated. <br />Upon request of the Lessee, the Authority agrees to <br />furnish an itemized statement setting forth the amounts <br />required to be paid by the Lessee on the next rental <br />payment date in order to purchase either or both portions <br />of the Project in accordance with the preceding <br />paragraph. <br />If the Lessee exercises its option to purchase, the <br />Lessee shall pay to the Trustee that portion of the <br />purchase price which is required to provide for the <br />payment of a part of or all of the Bonds, including all <br />premiums payable on the redemption thereof, accrued and <br />unpaid interest thereon and the costs of redemption <br />thereof. Such payment shall not be made until the <br />-6- <br />as <br />as <br />